The "business" of cards

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Posted By: Cat

As I am reviewing the December SMR page by page, I notice a PSA 8 M101-5 Babe Ruth card up for sale in the December Mile high Card Co auction (page 12). When I get back to Sotheby's/Sports Cards Plus advertisement, which identifies the prices witnessed from the most recent auctions, I see the same PSA 8 M101-5 Babe Ruth card (page 156). I faintly remember the auction when this particular card sold and I am quite sure that it was some time in this calendar year (my point being that it was recently sold and bought). That auction ended at $120,000 for that card. I point this out only by way of example. Some years ago, I used to believe that the high demand/high dollar cards were purchased and archived into collections and those cards were never seen again until one of us died. It just seams that a lot of the high demand/high dollar items are actually bought/flipped and bought/flipped and bought/flipped.

Any comments as to why I see this so often lately is appreciated.

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Posted By: pete

greed...

my best pitch was the one that made it to the plate!

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Posted By: Jim F

There are also people out there that bite off more than they can chew!!

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Posted By: Judge Dred (Fred)

You can only buy and flip a card so many times before you've reached the end of the line. If you happen to be the last one holding the card then you're not a flipper anymore, you're a collector (unless you want to take a bath on the card)...

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Posted By: Lee Behrens

I personally am a collector that uses my knowledge of the hobby as an investment. I buy and sell cards as an investment, which I am very happy with, the biggest probably I have is sometimes selling the cards because I like them so much. I do not have unlimited funds so if I over spend something must go.
I have also found that most if not all the cards I buy and sell are replacable, so if I am too bummed about selling a card I can always get another one (hopefully close to the price or lower than what I sold the other one for).
The hobby would not be a "business" if there were not dollar signs attacted to the cards.

Lee

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Posted By: Anson

I will flip things or trade things to get the cards I need for the things I collect. While this may leave a path of buy/flip/buy/flip, it helps we complete my want list quicker.

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Posted By: davidcycleback

It's not uncommon for a collector to win a group lot for one or two items in the lot, and resell the other items.

It is common practice for a big dealer to buy a large lot or collection and resell the items singly. This is a useful service to the average collector, as the average collector only wants and can afford 1 Mickey Mantle signed 8x10, not 200.

If you purely a collector and you are buying and winning cards, you can't tell me you just assumed that those thousands of people selling and auctioning cards were doing it for purely non-financial reasons. They are doing it to make money. If there weren't all those people selling cards for $$$, there would be no cards for the pure as snow collectors to buy. Even in the 1950s, kids were buying card from for profit stores and card makers.

As noted earlier, it is possible that the Mile High winner won more lots than he could afford and has to resell the Ruth. Many people bidding early in MastroNet will say "If I win all these lots I'm high bidder on, I'm in big trouble."