Resisting the Urge to Sell

[CardsFan999]

You have a nice card or autograph already slabbed by a TPG so it's easy to sell on eBAY.

You really should keep this card for your PC, but you see other cards that
you want and having graded cards is almost as good as cash.

How do you resist that temptation, so that six months later you're not
saying "damn I shouldn't have sold it"?

So far the only remedy that I've found is to keep cards in my safety deposit box. Not a very practical everyday solution.

What do you do to counteract the urge for a new favorite toy without decimating your existing collection?

[ullmandds]

make more money...don't sell...accumulate!

[jp1216]

Whenever I have to need or urge to sell a particular card - I usually do it. Certain cards in my collection are 'untouchable' - no matter the value. If I consider parting with a card - it usually means I don't really 'want' it. Make sense? But sometimes - if something amazing becomes available - it may be worth it to shrink my 'untouchable' lot....

[Sean1125]

It is up to you whether you want to keep the item or get the others, but if you are able to get a decent or significant profit I think you should put it into other items as long as you think they will maintain their value at a minimum.

[freakhappy]

Originally Posted by jp1216

Whenever I have to need or urge to sell a particular card - I usually do it. Certain cards in my collection are 'untouchable' - no matter the value. If I consider parting with a card - it usually means I don't really 'want' it. Make sense? But sometimes - if something amazing becomes available - it may be worth it to shrink my 'untouchable' lot....

I feel the same way Jon does. I have an "untouchable" list, but sometimes there are cards that supercede that list and that may mean I have to sell one or two of those cards to step up one level. But in the end, it's up to you what you feel comfortable with selling. Most of my cards are easily attainable down the line, but have a feeling I would spend my cash on other wants, rather than going buying back cards I sold...so I usually keep them because they mean a lot to me.

But yeah...if you can get more cash, do so! And then tell me how you did it

[atx840]

Originally Posted by jp1216

Whenever I have to need or urge to sell a particular card - I usually do it. Certain cards in my collection are 'untouchable' - no matter the value.

+1

[bigwinnerx]

I still consider myself in accumulation stage. Looking for good buys, etc. Some on the BST have been well funded in this regard.

I've tried to branch a bit, look at different sets, but, invariably, if I do sell, those are the first cards to go. (Virginia T210s easiest example)

And upgrades do get the move out the door, too.

[Exhibitman]

It's just stuff; everything in my collection is for sale, at the right price. Of course, if the item is really rare and I really like it a lot, the asking price will give the buyer a nosebleed. I've rarely sold an item at my asking price and been sorry later; I've nearly always regretted selling things for less. As for the OP question, don't resist it. The fact that you are considering it probably means the items really aren't all that important to you.

[ullmandds]

I'm with Adam...at this point in my life...I'm 43...have been collecting things all of my life...everything is for sale for the right place...very few "things" in life are irreplaceable!!!

[mybuddyinc]

"Someone asked me if my club was for sale. What a ridiculous question. Of course it is for sale. So is my hat and my overcoat, and my watch. Anyone who wants them can have them at a price." --- H. Harrison Frazee, owner Boston Red Sox, 1917

[CardsFan999]

Originally Posted by Exhibitman

The fact that you are considering it probably means the items really aren't all that important to you.

I suppose what you're saying is true to a certain extent. None of the items I've sold off to acquire others are particularly hard to come by and they can all be re-acquired.

Cash flow has been the major issue. I recently started using Paypal's "Bill Me Later" feature. It's really nothing more than a line of credit, but it's hooked into Paypal and my limit is intentionally low. Perhaps it will help me resist my temptation to sell off items to raise quick cash for buying others.

[Exhibitman]

My rule of thumb is that if I don't have the cash to pay for something hobby-related I should not be buying it. If I was to bid on something at auction that required me to draw on a LOC to pay for it, I would do so only with the understanding between me and my CPA, er, wife, that I would liquidate other items to pay down the credit line and any accrued interest. My feeling is that when you start taking on debt to cover hobby stuff it has turned from a hobby into an addiction.

[ullmandds]

I'd follow Adam's advice...he's a smart cookie!!!! I totally agree...they're just cards...you can't eat them...or live within them...many things in life more important than old cardboard...and certainly not a good thing to go into debt over?!

[Ladder7]

Once you've put away five years worth of your household's salaries and are contributing generously to your 401k and own a home. Then it may be okay to play with baseball cards... Damnit, forgot about college tuition

Easier said than done, I know. Try to focus on one niche that makes you happy. Hunt for bargains and resist overpaying for something that may reappear. Mine niche is htf Boston items now. Everything else in our shoebox is tradeable in order to fill holes. No appreciable value lost, or gained. But I enjoy it a lot more. I'll be on a fixed income shortly. So our collection is as valuable as it'll ever be in my financial lifetime.

[CardsFan999]

Originally Posted by Exhibitman

My rule of thumb is that if I don't have the cash to pay for something hobby-related I should not be buying it.

That used to be my rule of thumb as well and most of the time it's very good advice. The problem is timing. In cases where I might have the Paypal funds to cover it in two or three days, but I don't have it today, it is helpful. If an auction is ending shortly, and buy it now pay immediately, there is no reason to lose out on a good deal on an item because you don't have the money right this second. Definitely not a good approach for people that have problems with credit cards but that is not me.

[cubsfan-budman]

Originally Posted by CardsFan999

If an auction is ending shortly, and buy it now pay immediately, there is no reason to lose out on a good deal on an item because you don't have the money right this second.

I don't mean to hurt your feelings or particularly offend you, but this is a child's attitude and not one that is going to hold you in good stead in the years to come.

What if you accrue debt vs. hobby stuff and then lose your job? Or if your partner or you gets sick. I sincerely hope nothing bad happens to your or yours, but prioritizing hobbies over practicality and self-reliance is a recipe for bad things

[ullmandds]

you can lead a horse to water...

[conor912]

if you have to borrow the money, it's not a good deal

[CardsFan999]

Originally Posted by cubsfan-budman

I don't mean to hurt your feelings or particularly offend you, but this is a child's attitude and not one that is going to hold you in good stead in the years to come.

What if you accrue debt vs. hobby stuff and then lose your job? Or if your partner or you gets sick. I sincerely hope nothing bad happens to your or yours, but prioritizing hobbies over practicality and self-reliance is a recipe for bad things

You probably have money buried in the back yard in case we have another depression. No wonder everybody in this forum collects pre-war cards -- their brains are stuck in the pre-war mode too.

[HRBAKER]

If I even consider buying a card "on time" (meaning paying for credit) then shoot me since my brain is stuck in the pre-war mode too. Of course I'm 53 so what do I know.
Now if I am in the business and I am investing in inventory, maybe.

[beachhead2]

Your collection and finances are personal so ultimately there is no answer we can provide. Are you flipping cards to (hopefully) make money or buying and keeping? I am definitely the latter. What I buy goes into my display. As laughable as it might sound, I'm working toward completing the collection. There's an endgame. Do you have a goal or do you own cards for a while, get tired of them, and then sell them?

[HRBAKER]

Originally Posted by CardsFan999

You probably have money buried in the back yard in case we have another depression. No wonder everybody in this forum collects pre-war cards -- their brains are stuck in the pre-war mode too.

Is this the perception you have of people who choose to live debt free?

[Jewish-collector]

As I'm figuring out which direction I want my collection to go, there have been times that I'll buy a card on ebay, but then a day or two after receiving it, decide I don't want it so I just sell it (usually for the same amount).

[Exhibitman]

I'm not really deriding short term debt that will be covered with cash flow from a pending card sale. I get that from time to time when I've sold something and another item pops up.

I run all my household expenses through my CC for the cash back to my kid's 529 account, but I pay off the CC every month in full. I never accrue a rolling debt for a card.

The problem with using a CC for cards is that it is like a drug. The first hit is painless, but before you know it you are chipping at it all the time and you have a big debt to pay down. I did that one month when I decided to put my card buys on the CC and I was horrified with the result. Maybe you have better credit discipline than I do, but I could not trust myself to ebay with a CC. I have to give myself a cash allowance and stick to it. Unless, as noted in my first post, I need help to cover a major purchase for the short term via a dedicated credit line that I would then pay down with card sales.

[rainier2004]

Huh...touchy subject.

I followed "if I don't have the money, I cant buy it" for years with everything.

Last fall I broke it...while outta work. I had been hired but had a couple weeks before I started my new job. The opportunity came along to get the CJ Jax as a beautiful mid-grade for the price Id expect to pay for a rough poor one. So I talked to the wife, she begrudgingly said pull the trigger and I did. The plan was to have it paid off by the end of march...I actually borrowed against myself at 0.25% monthly penalties...that was 4 months ago, life has really gotten in the way and I still owe most of my debt. Ive sold more of my cards than I ever planned, w/o regret. But I will never do this again, ever ever ever. I just don't like the feeling of "owing", especially for cardboard. My penalty for this decision will only cost me a couple hundred dollars in the end, but I absolutely hate it...plus you're not in the hobby anymore as you're in debt. To buy cards now, I have to sell cards (I'm just about to sell my t205s and t206s...cards I didn't think Id ever sell). I love my card but have debated selling many times to end this...but it looks very nice in its display. To each their own, be careful, attitudes change.

[HRBAKER]

The problem with using a CC for cards is that it is like a drug. The first hit is painless, but before you know it you are chipping at it all the time and you have a big debt to pay down. I did that one month when I decided to put my card buys on the CC and I was horrified with the result.

Amen to that. I have always been of the opinion you don't fund a "hobby" with debt. That is better left for things that you can't live without - like a house, education, etc. That may sound a little "Stone Age" to some here.

[Leon]

I have a problem. I am a card addict. I live vicariously through my cards and many times, while funding things to resell, I get down to the dregs in my bank account. I just finished refinancing my house yesterday. In order to do that I guess I am doing something ok, as my rate will save me around $600-$700 a month in less (pure) interest. The charges will be paid back in around 6-7 mos so it made financial sense.
Last week I walked into Sam's and they counted out 15 one hundred dollar bills and 3 twenties. That was how much I made, in profit, from using my CC last year (by the cash back program). I had less than $100 in finance charges in total...as I did some card purchases for a month or two instead of paying the card. I hate anything financed except my house.
All in all it's a fun game you just need some discipline (and a wife that doesn't ask questions)....regards

edited to add, in regards to the original question, almost everything is for sale but I try to keep my core collection in tact. That being said, when I could use a bit of money I will sometimes sell something. Not a big deal. And most of my valuable stuff is at a safe deposit box but that doesn't stop me if I want to sell. I drive by it almost daily anyway.

[HRBAKER]

Point well taken, but the management of short term debt takes a great deal of discipline. Technically, I use a CC for almost all of my card purchases as my PP acct is tied directly to a CC and not a bank account. But it is paid off every month so essentially it is a short term interest free loan of sorts.

Sadly in my experience, I know a lot more folks who are managed by their debt as opposed to the other way around.

I don't think that most cash-only hobby folks have money buried in their backyard. Could be wrong.

Of course when I find a seller that will let me pay over time with no charge, then that's a bonus too.

[Leon]

Originally Posted by HRBAKER

Point well taken, but the management of short term debt takes a great deal of discipline. Technically, I use a CC for almost all of my card purchases as my PP acct is tied directly to a CC and not a bank account. But it is paid off every month so essentially it is a short term interest free loan of sorts.

Sadly in my experience, I know a lot more folks who are managed by their debt as opposed to the other way around.

I don't think that most cash-only hobby folks have money buried in their backyard. Could be wrong.

Of course when I find a seller that will let me pay over time with no charge, then that's a bonus too.

Some people can manage short term debt and others don't do as well with it. I would rather exploit debt and take advantage of it. I think it comes from my heritage (my grandparents) as they did fairly well with modest means. I watched them when they were still around (RIP) and learned a lot.....I also read a lot of articles about debt too so I have an idea what makes fiscal sense. No interest charges are generally the best unless I can pay $50 in interest and make several hundred off of the debt I incur. (as stated before). When something is for my collection I am sort of messed up because then it becomes a long term asset and hurts cash flow. But that is ok too as I would rather have a card than a CD (this is not what most people should do and I don't recommend it).

[Exhibitman]

I agree but my wife doesn't always see it that way so I need to generate cash flow from my collecting to fund my collecting as much as possible. Which means that when I win a nice lot at auction I usually have to break it down and sell it [mostly] off to recoup my investment and try to make a profit for later use. Believe me, I'd rather keep everything, but life doesn't work that way for me...yet.

[Jlighter]

Originally Posted by Leon

But that is ok too as I would rather have a card than a CD (this is not what most people should do and I don't recommend it).

With rates so low, CDs/Cash/Cards are basically interchangeable, one makes a little money, one loses a little money, and one can fluctuate. Cards are also less liquid then the other two. If rates were to go up over 3%, not likely in the near term, I would sell a few of my cards and buy a bunch of 10 years.

[Runscott]

Originally Posted by jp1216

Whenever I have to need or urge to sell a particular card - I usually do it. Certain cards in my collection are 'untouchable' - no matter the value. If I consider parting with a card - it usually means I don't really 'want' it. Make sense? But sometimes - if something amazing becomes available - it may be worth it to shrink my 'untouchable' lot....

Same here. The only problem is that there are items that should have been on that list, but I didn't realize it until I had sold them