Collecting on a Limited Budget: How do you do it?

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Posted By: James Feagin

I'm a fairly young collector (if you consider 30 young), with a wife and baby daughter on the way. We both have our first "real" jobs and are doing our darndest to make it with mortgage, taxes, baby stuff, etc. Like I said in another thread, at the end of the day I have about $800-1000 a year to spend on cards. I know there are others on board who are in the same boat, and would like their ideas on building a pre-war collection on a budget. Ideally I like to get cards in VG or better shape with some exceptions. I REALLY am interested in how it works for you and any ideas or tips would be very welcomed.

James/Jim

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Posted By: steve f

Hi James/Jim,

Coincidence, I am also a young collector (47... or 48). Lately I would try to buy raw and graded vintage (pre 1970) lots on ebaY, keep a fraction (HOFs and hi quality stars) then sell off the remainder. It's more work, but I have fun with it.

This method "generally" lowered the overall costs if purchased seperately. After a while, so I tell the missus, I have broken even and still have a decent collection to leave my heirs. You may need to plead tactfully with yours that you need money to make money/investment.

Do your research before bidding online. There are more than a few counterfeiters.

I'm sure you've initiated a college fund prior to buying card. Good luck

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Posted By: Jpaol99

I am really a young collector at 22. I don't have the extra expense that children bring as of yet, (will happen sooner than later if my future wife has anything to say about it). I agree with Steve buying lots and selling everything but a few you want helps to cover some cost. Also trading, and even selling off some items to afford other cards that that you want more. It is hard to collect on a budget but it can be done.

Justin

my collection

http://imageevent.com/jpaol99

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Posted By: tbob

Steve has the right idea but I'd like to add 2 more suggestions:
1) Be on the lookout for bargain cards, even if they are something you don't collect as you can flip them and make money, either keeping them "raw" or spending $10 to slab them if they are nice and could get a good grade. They are also useful traders down the road.
2) Upgrade, upgrade, upgrade. Many times you'll buy a lower condition card and then find one in better shape and buy it, then turn around and sell the lower condition one for more than you paid for the higher grade card. Don't scoff, I have done this many, many times.
Good luck with your collection,
Bob

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Posted By: Jim Novotny

James
As a relative newbie to vintage collecting, who has 3 pre-college kids and a wife who monitors my spending I have two tips:

1) Stay focused on what you are collecting. From time to time I get very distracted by some great looking cards or sets. But I know that if I go after that set I wont have money for the current sets Im building. I would love to collect everything, but right now I live through the bi-monthly who-got-what thread. Right now I am working on 2 vintage sets, one from the 60s and favorite players that my son likes....there is probably more but I wont admit it.

2) Stay disciplined in how much you spend. Know how much you want to spend and dont get caught up bidding wars. Also dont feel bad if you lose an item that goes for a ridiculous price. Just keep plugging away at the price level you want to spend and your collection will grow. Ive done well with my T206s this way. With the exception of the HOFers, most of my commons were purchased for less than $20 ungraded and after grading they mostly fell in the PSA2-3 range which is fine for me.
Jim

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Posted By: Anonymous

Two words: slush fund.

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Posted By: jay behrens

finding lots at a good price and flipping most of them is a good route to go and is generally what I do when I have money. Last year, I picked up a a group of t206s for $12/card that included and Matty black cap. Another trick to buying a very limited budget is try to go after sets that seem undervalued. I'd tell what I think these are, but then I'd have to kill you Also, learning to love beaters is a good way to get a lot of bang for the buck. The Fogle cards are impressive, but for me personally, high grade cards like his look very sterile and lack character. No one carried them around in their pocket to show off to their friends, flipped them or did anything with them most kids did with their cards.

Jay

I've just reached Upper Lower Class. I am now officially a babe magnet for poor chicks.

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Posted By: davidcycleback

One can collect not-exactly Pre-War baseball card items and related non-baseball items. For example:

Some Pre-War baseball player autographs are affordable. Modern signed photos of folks like Bill Terry and Bob Hubbell are very affordable. You could buy an augoraphed 1933 Goudey or Play Ball common player at an affordable price, perhaps $20 or $30 price if the card is rough. Obviously, you want to find the right seller and know who are reputable authenticators.

News service photos of Pre-War players. Nice collectables, and a nice photo of Hank Greenburgh or other HOFers can be found at affordable prices.

Pre-War non baseball cards, like Old Judge and Newsboy actors or boxing cards.

Pre-1950 Team Issue Pic Pacs are affordable and nice, and include vintage examples of top stars like Joe DiMaggio, Ted Williams and Satchell Paige.

Pre-War other sport or college/high school sport items, like college football or hockey postcards or early high school baseball cabinets. There are a lot of interesting and affordable vintage sports postcards out there.

Pre-War Post Gazzette Suppliments are high quality, and afford many multi-sport stars including Ty Cobb, Walter Johnson, Christy Mathewson, Jim Thopre and boxing stars. Baseball Magazine Premiums are of lesser quality, but are also affordable and include all the big strars like Ruth and Gehrig.

1800s Harper's and Leslie's Woodcuts. These are affordable, vintage and feature the major 19th century stars including Anson, King Kelly, Al Spalding, Blly Sunday and even the entire 1869 Cincinnati Reds. Can't beat these for display value.

Many Pre-War card collectors also buy photos, programs, woodcuts and postcards to go with their T206s and Plow Boys.

As a collector, some of my all time favorite items were inexpensive and many of the most expensive items were not my favoties. Most of those expensive items are long gone, and many 'cheapos' I still have.

I can promise that the majority of collectors on eBay and elewhere are not like Marshell Fogel or Leon. To the majority of collectors, $500 for a card or group lot is a lot of money to be spending.

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Posted By: Josh K.

A slush fund is definitely the way to go. I have a dependent care flex plan at work - I max it out (5k per year is the maximum amount that you can have w/held tax free from your pay). This provides a little over $400 per month in flex reimbursements but does not take 400 out of your monthly pay after tax.

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Posted By: dd

Establishing an ebay ID and selling random items of regional interest can be profitable. This could increase your card budget.

Buying card lots cheap and selling off the scraps may also assist your collecting endeavor.

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Posted By: Dan Koteles

that is the way it is , until you graduate to the
next level. Is their something you would like help with ???....their are so many people that can out-
bid everyone at any cost....RIGHT PLACE-RIGHT TIME !

Nothing can be done until you graduate prosperesly.

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Posted By: James Feagin

Thanks for the tips everyone. I'm always on the lookout to flip some cards. However, I never knew larger lots could be so fun or profitable! Perhaps, I will look into it.

J--

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Posted By: Mike Ernst

I think that the previous posts were with great merit. Just a dimension to add:
When I was younger, I had less money and more time and energy.
I now have more disposable income and less energy and more expectations on my time.
In order to accomplish what you want to accomplish, you need to determine what you have in the way of non-financial assets (time, energy, good memory, etc.) and utilize those to the maximum.
I learned to make the hobby marginally profitable back in the early 70's, not because I saw the future and the potential value of the cards, but because that's the only way that I could pursue the hobby. Now it's become second nature.
Great question--good thoughts--good luck!
In addition--throughout my 9 years of college, I paid tuition. In the hobby, in order to learn, I paid "tuition". I have cards that have no greater value now than when I acquired them 25-30 years ago. You'll never progress if you don't take some calculated risks--and some will not pay off--charge them off as "tuition."

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Posted By: Genaro

My wife doesn't care what I spend as long as it is not the family money as she likes to say. I work side jobs and weekends and that's is what she said I cant spend. I did a roof last 2 weekends so I could bid on a Cobb. She thinks I am insane but as long as its my side money she is OK with it. I've tried buying lots and selling the scraps just hasn't worked out for me. What I do often do is when a better grade card comes available Ill bid on it and if I win I sell off my dupes. So if I upgrade from a 2 to a 3 or a 4 to a 5 its not a lot of money difference.

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Posted By: Jason

Buy reprints

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Posted By: rp60

For pre-war vintage, just three things 1) Keep banging away on line 2) Go to any local shows and get to know your dealers, and 3) Keep in contact with fellow collectors and buy/sell/trade with them..You will save some money in the short and long run..

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Posted By: robert a

James,
Go to Reno more often and find more e94s for rediculously cheap prices. That would help.

Also, keep in mind that you have to be patient. Next year, the cards you have now might be well sought after.

Besides that, I have found other issues that are still inexpensive. These are sometimes non-sports issues.

Collect postcards.

Rob

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Posted By: nbrazil

i set a budget and stick with it. i remind myself that if i spend too much on cards, i'll be dirt poor. i try to spread out my purchases throughout the year. i do a lot of card collecting activities (like research, posting on this forum, etc) to tide me over. and i do a lot of research of raw cards...because those tend to be undervalued.

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Posted By: identify7

Jim: $800-$1000 per year is a lot more money than many collectors spend on our hobby. I do not think that Net54 participants represent (nor try to) a crossection of the prewar collector universe.

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Posted By: James Feagin

Point well taken. To clarify, the vast majority of that $800-1000 comes from selling cards I don't need anymore or from flipping. Every now and again, my wife will give me an allowance for such things.

J--

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Posted By: Sean

Come on men! We must put on some pants and tell our wives/girlfriends, "can I please have $20 for the card show this weekend? You can go shopping with your girlfriends if you like...oh sure you can use the credit card sweetie !"

That usually works for me. So I guess I spend about $240 a year on cards...I don't want to think what my wife does on clothing, jewelery, shoes & purses.

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Posted By: barry arnold

I spend only the money from my evening moonlighting doing therapy.

none from my 'professoring'.

best

Barry

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Posted By: Cardtarget

CardTarget.com was made for guys like you... check it out. Unless you're one of those people who likes having their cards in their closet. =)

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Posted By: leon

Most folks on this board would rather own the card rather than a piece of paper saying you own part of a card.....makes no sense to most of us. Good luck in your endeavor. Also, Mr. Cardtarget, let's don't hijack this thread. If you want to respond please start a new thread and get some comments. There has been a recent thread about your site already. thanks....moderator dude (leon)

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Posted By: James Feagin

I'm not sure why I am offended, because it usually is hard for me to get so. However, I think this Card Target is a joke. My collection is intentionally small, and is neither in a closet, and is very much watched. I would rather buy a $10 pack of crappy modern cards than have a "share" of a card I'll never see.

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Posted By: warshawlaw

If I have a good month, I give my wife an allowance for extras like home improvements, decorating, etc., and I give myself a chunk of change for cards. If I don't get to it right away, it will be gone and I'll be damned if I'm going to let her consume a windfall in purchasing wallpaper, paint and throw-pillows Just kidding, if you are reading this, honey, I never, ever take a dime for my hobby, it all comes from card flipping. Yeah, that's the ticket.

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Posted By: howard

One hobby fuels the other. Whatever I win playing backgammon I put into baseball cards. If I lose I take a break from the cards until I'm winning again. It won't get me a Wagner card but I bought a Mantle recently.

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Posted By: jay behrens

ahhh, the joys and the curse of the doubling cube.

Jay

I've just reached Upper Lower Class. I am now officially a babe magnet for poor chicks.