What are some tips on making money in this hobby?

[savedfrommyspokes]

Originally Posted by tcalca24

Looking for some ideas on how to flip and make a few extra dollars fueling my passion for vintage cards. I see avid “hobby” collectors at shows and wonder how they do it. Not looking for trade secrets but just some tips to make some discrentary spending money through hard work. I do the hobby for fun but realize i need up my game if I’m ever to own the big boy cards. Thanks Ted

For a quicker return on your investment, and if you have the time, buying lots/groups of cards and breaking them down will in many cases yield a reasonable profit based on your initial investment. I have built a near complete run of Topps sets for a minimal cost using this method.

[bensie]

What you propose is a very difficult thing to accomplish reliably. The number one advice I'd give is to establish a relationship with an auction house and negotiate favorable rates. If you don't or can't, auction fees will eat up all of your profits and then some.

I've had a small amount of success flipping, but it's a real grind. I would routinely put in over $100k worth of bids on cards only to come up empty or to get a card that would flip for a couple hundred bucks. I did that for a couple months, but it's not fun nor is it worth the time. I went back to simply buying cards I like.

When I talk to people about it, I liken it to card counting in blackjack. When I was young, I was pretty decent at counting cards and could reliably make money. However, I was spending full days in the casino and it was boring as hell. I then decided to give it up and just get a real job since the time investment was about the same and the money wasn't much different. Same story with cards. Gave up the flipping and am focused on other ways to make money.

To put it succinctly: there's no free lunch.

[oldjudge]

1. Apprentice with a card doctor
2. Shill your consignments in online auctions
3. Buy online and immediately relist your winnings with a higher BIN. If it doesn't sell reneg on the original purchase

[bnorth]

Originally Posted by TUM301

I`ve got one word for you son, P L A S T I C S !

^^This is easily #1^^ Not is the buying/selling/trading of cards already in plastic. Getting raw high grade cards into those magic plastic holders is the real money maker.

Originally Posted by oldjudge

1. Apprentice with a card doctor
2. Shill your consignments in online auctions
3. Buy online and immediately relist your winnings with a higher BIN. If it doesn't sell reneg on the original purchase

^These are by far the most common ways^

[swarmee]

1) Don't get into group breaks of modern product or bust cases. Good way to go broke fast. Sure, some people hit big, but they do in Vegas too. Modern card buying is like buying lottery tickets.
2) Read my primer on COMC here:
https://www.blowoutforums.com/showthread.php?t=1211826
3) Buy low, real low. Don't buy gigantic lots and pay market price. Make sure you have enough meat on the bone to not get eaten up by eBay fees, shipping costs, etc.
4) Make sure you know what your cards are worth, and where best to sell them. eBay is good, but if you don't describe your cards right, you'll just be feeding the flippers on eBay and not making the money for yourself.
5) Read the COMC flipping thread:
https://www.blowoutforums.com/showthread.php?t=807253
Shows how some can take cards and turn them into profits by finding diamonds in the rough, see which cards sell for premiums, etc. I am a fan of Topps error/variation cards listed in PSA master sets.
6) Learn how to grade cards, learn the graded card market, and send your submissions to PSA on bulk specials.
7) Figure out how to tell real cards from reprints.

[doug.goodman]

Your original question is a contradiction.

Doug

[iwantitiwinit]

Originally Posted by doug.goodman

Your original question is a contradiction.

Doug

Exactly.

[Snapolit1]

Originally Posted by doug.goodman

Your original question is a contradiction.

Doug

Why can't a person make money with a hobby? Seems to me people have been doing that forever. My grandmother knit sweaters in the 30s and sold them to families in the neighborhood. My dad collected coins and traded some for profit. People rebuild cars and happily sell them.

[Vintageismygame]

Originally Posted by savedfrommyspokes

For a quicker return on your investment, and if you have the time, buying lots/groups of cards and breaking them down will in many cases yield a reasonable profit based on your initial investment. I have built a near complete run of Topps sets for a minimal cost using this method.

I second this method as I have a collection that has an appraised/insured value of over $600,000 that I about $25,000 of actual out of pocket.