Day job/budgeting for cards

[Leon]

Originally Posted by travrosty

dont collect as investments, buy best quality you can afford, other people have super great collections because they can afford it. make a lot of money and then get whatever you want. otherwise save for one nice thing at a time.

dont worry about investments when you collect , collect for FUN.

warren buffet invests as good as anyone, and i have never heard of him buying cards or sports memorabilia. its too much of a carp shoot.

Don't shoot carp, they are fish too!!

[mattsey9]

Originally Posted by Leon

Don't shoot carp, they are fish too!!

Carp are people too!

[dabigyankeeman]

I use a credit card, but never let it go over $1000 balance, and when it gets near there, I knock it down to about half that or less before putting more on it.

[Shoele$$]

Originally Posted by Leon

Don't shoot carp, they are fish too!!

Lolz! Nice catch

[queencitysportscards]

I would like to think that the cards I collect will appreciate in value over time, but that is not always the case, so collect for the fun first, investments second. Pre-War has certainly appreciated in value over the last 10 plus years and one can assume that they will continue to go up or hold steady over time in value. I specifically collect vintage because I appreciate and respect the history, but I also know if I ever want to sell, I should at the very least come close to getting my money back.

I try and reward myself with a few cards a month that I am trying to get to complete my collection (I am currently putting a T206 Reds set together). I have kids, a family and a business to run, so I can't spend all my money on cards (unfortunately).

Collect within your means and don't overspend. Look for deals, search eBay and other auction sites (big and small), and stop by a local card show (if there is one near you) and look at the BST forum on Net54...I have picked up a few good finds in the last few weeks and have had nothing, but smooth transactions with various members. There are still some good bargains out there.

Decide on what you want to collect, graded cards, raw, high end etc and that will determine what your budget will be on obtaining cards.

Happy Collecting!

[cubsfan-budman]

imho, half the fun is collecting things you like/are proud of on a budget. sounds silly, but if i could buy whatever i wanted, i'd end up buying a ton of crap all at once, then i'd be bored. gathering slowly has its charms.

[queencitysportscards]

Originally Posted by cubsfan-budman

imho, half the fun is collecting things you like/are proud of on a budget. sounds silly, but if i could buy whatever i wanted, i'd end up buying a ton of crap all at once, then i'd be bored. gathering slowly has its charms.

Well said cubsfan!

[abothebear]

Here is a few bits from my experience getting back into it over the last 3 years:

On the Money Side-
Set a budget that is reasonable.
Stick to it.
Skimp on a month or two to build a budget surplus that will free you up if that moment comes when you've got to have a card out of your usual budget range.
Don't get into any card that you can't get out of with minimal loss. At the same time, if you are buying cards you love, that value should also be considered. There are a few cards I have that I would still love even if they became worthless overnight.

On the Card Side-
Take your time to figure out what your focus is. Since you can't get them all, what would you be most eager to get? It takes a while, when you have a smaller budget, and even when you don't, to make progress on a particular strategy and it is easy to lose interest in that strategy, and add a second, and third, and fourth focus. And pretty soon you don't really have a focus anymore.

[smrtn240]

Originally Posted by abothebear

Here is a few bits from my experience getting back into it over the last 3 years:

On the Money Side-
Set a budget that is reasonable.
Stick to it.
Skimp on a month or two to build a budget surplus that will free you up if that moment comes when you've got to have a card out of your usual budget range.
Don't get into any card that you can't get out of with minimal loss. At the same time, if you are buying cards you love, that value should also be considered. There are a few cards I have that I would still love even if they became worthless overnight.

On the Card Side-
Take your time to figure out what your focus is. Since you can't get them all, what would you be most eager to get? It takes a while, when you have a smaller budget, and even when you don't, to make progress on a particular strategy and it is easy to lose interest in that strategy, and add a second, and third, and fourth focus. And pretty soon you don't really have a focus anymore.

Thanks for the advice everyone... this pretty much sums up what I think happened, I lost focus. Hate to say it but what brought me back in to collecting was when I was laid off from my job and started buying higher end $500+ cards to flip and make a few bucks to pay some bills. I quickly got that warm feeling back(you all know what I'm talking about I'm sure) from owning such cards and found myself getting attached to them again. I need to re-focus and learn to budget better now I guess. Thanks all.. You are a great bunch!

[conor912]

Start with small goals then build on them over time. Follow as many sales and auctions as you can, regardless or your intent to buy or not. This will give you a solid base of knowledge as to what's out there and what the going rate for it is.

You also have time on your side. The lions share of collectors are white men ages 40 to 65 with not as many new collectors entering the market as are leaving it (due to retirement/downsizing/dying). When all of the supply and all of the demand come from one group of people, it's just a matter of time before the market will get flooded. With more collections for sale and less people buying them, prices will drop considerably. This will be great for future purchases, but not so much for past ones. This is obviously all speculation and MHO.

[I Only Smoke 4 the Cards]

Originally Posted by cubsfan-budman

imho, half the fun is collecting things you like/are proud of on a budget. sounds silly, but if i could buy whatever i wanted, i'd end up buying a ton of crap all at once, then i'd be bored. gathering slowly has its charms.

I totally agree. I am building a T-206 collection in part because of the time and discipline it will take. If I obtained it all at once I wouldn't appreciate nearly as much.

[T206Collector]

You can buy small groups of pre-war cards over time and build a substantial and valuable collection. I was able to afford Lionel Carter's T206 Plank because I sold 400 T206 cards that I had accumulated over a 10 year period.

[markf31]

Originally Posted by cubsfan-budman

imho, half the fun is collecting things you like/are proud of on a budget. sounds silly, but if i could buy whatever i wanted, i'd end up buying a ton of crap all at once, then i'd be bored. gathering slowly has its charms.

Originally Posted by I Only Smoke 4 the Cards

I totally agree. I am building a T-206 collection in part because of the time and discipline it will take. If I obtained it all at once I wouldn't appreciate nearly as much.

Agreed. Most of us are collectors, not just buyers of cardboard.

And I would also suggest, try not to get caught up in cardboard envy. I dislike registries for this reason. Don't worry about comparing your collection to that of others, or wondering how you can one day have an astonishing collection yourself. These are hollow goals that will rob you of the enjoyment of collecting and make it more a burden than anything.

[conor912]

Originally Posted by markf31

I would also suggest, try not to get caught up in cardboard envy. I dislike registries for this reason. Don't worry about comparing your collection to that of others, or wondering how you can one day have an astonishing collection yourself. These are hollow goals that will rob you of the enjoyment of collecting and make it more a burden than anything.

great advice.