Day job/budgeting for cards

[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!

[steve B]

Lots of good advice.

Collecting to me is something where taking the long view is workable. It's one thing to have a decent size budget and focus on one set aiming to finish it in a particular time. It's much more challenging to look at cards overall and collect a broader range assuming you might never finish most sets.

Heading for 50, I wish I'd bought more cards when I was 20. 30 years from now there will probably be at least a few people with the same thought. But if I'd bought more cards I'd have missed out on some stuff that's more important in the long run, like ski trips with my friends. (Next year we'll be taking a camping trip 30 years after the one we took in 83, and 93, Skipped in 03 since the camping area had some serious crime problems.)
Going into any sort of debt fora collection is pretty silly unless you look at it as a thing you'll sell that's a sure thing (If I found a Wagner for 50,000 I'd take the loan, but not for most normal stuff)

Collecting without a big budget comes down to knowledge and luck. Knowing you've found a good deal when you see it makes a big difference

Steve B

[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.

[ullmandds]

Many on this board...myself included starting collecting when these cards weren't terribly expensive...or valuable. Over time values of some cards exploded enabling the collectors to "re-invest" some profits on higher $ cards...myself included. This combined with having more disposable income than I had when I was younger...enables me to acquire some sweet cardboard.

While I am certainly a collector by nature...and at heart...I do consider my bb card collection as an asset when tabulating my net worth...but not really an investment?!