What is the most important lesson you've learned through collecting?

[Leon]

Saying Mr. Kendrick has the best collection is a bit naive, imo. He has some great looking high grade cards for sure. But there are other collections which are far more valuable and with a much greater breadth....

and something learned would probably be ...to be patient.

Originally Posted by Jdoggs

+1
Yes someone always has a better card collection.
Unless you are ken Kendrick he has the best collection.

[ksfarmboy]

Take a break from the chase to enjoy what you have and share your collection with others. Don’t beat yourself up over the losses something else will come along.

[ls7plus]

Originally Posted by Leon

Saying Mr. Kendrick has the best collection is a bit naive, imo. He has some great looking high grade cards for sure. But there are other collections which are far more valuable and with a much greater breadth....

and something learned would probably be ...to be patient.

+1. Who has the best collection will almost always depend on one's perspective.

Sincerely,

Larry

[topcat61]

Originally Posted by ls7plus

+1. Who has the best collection will almost always depend on one's perspective.

Sincerely,

Larry

Larry, I have found that no one will ever appreciate the time, energy and knowledge you put onto your collection more than you.

[jchcollins]

Cool topic for a post - as it really made me think. I like a lot of what I have read here! The below are just for me personally and may not apply to everyone - but in 32 years of buying cards off and on since I opened that first Topps pack at age 9 - here is what I would say:

1. Don't sweat it when you have to sell something: First off, I don't have hidden hoards of disposable income in the closet or my safety deposit box down at the bank, and second - I'm married, so even if I did... when I want to add something substantial to my collection - like some of the rest of you, it sometimes requires me to sell something that I already have to finance said purchase. I've learned the hard way over the years that I will ponder and deliberate in frustration for hours up to days about selling whatever it is...but then whenever it is done and after I've put the card in the mail - 9 out of 10 times I don't think about it ever again after a few days. I know many people have regrets selling cards like this - but strangely and even for some pretty hefty expensive and/or important vintage cards - this does not happen to me. I'm always able to move on to whatever I just bought or other pieces of my collection.

2. Don't forget about something as soon as it's in hand and move on only in the spirit of the chase: No disrespect to those of you that do this, but I've never understood the type of collector who will brag to others about having this or that fantastic card, "Oh, but I haven't seen it in 10 years because it's locked-up down at the bank." Huh? I guess I can see that point with ultra expensive cards, but to me this totally defeats the purpose of having a nice collection. I LOOK at my favorite cards - daily, hell I've been known sometimes to take a few with me to work or on trips. Jefferson Burdick has a quote about cards being able to lift you from your present concerns - "work-a-day cares" or something like that. How are you going to do that if you never look at your cards?

3. Participate in the hobby in some way: Do something other than just stockpiling cardboard. I don't have the time or luxury to drive anymore to go to shows, and all the LCS's in the area have forsaken me and closed as well - but only after that was when I found Net54. Just talking about the hobby and reflecting on the various topics that come up here has been tremendously enjoyable to me over the past 3+ years now. Truth be told, I probably get more out of the Net54 board interaction than I do from the cards themselves. I've always been a bit of a nerdy introvert with the hobby - I don't have a lot of hobby friends I see in person (sorry, for me this is mostly about cards, less about people...er, at least in person) and I generally tend to it when my wife and kids are doing other things. But I will say that the advent of the internet opened up another whole world to me in terms of finding a place to talk about the hobby.

4. As others have said: Collect what you like and don't be swung to do something just because it's popular for others you admire or in the hobby in general. The classic example for me is set collecting. I don't know how many times I've tried to be a set collector just because it seems like the thing I should be doing, but I can tell you I've failed every single time. Even with beautiful vintage sets like '67 Topps - there will come a point where I get tired of spending money on common cards. I simply don't care that much about them. At the end of the day for an additional card, I'd rather have a HOFer out of a set that I'm NOT collecting, than a 1967 Topps Herman Franks just because - well...I guess I need him because I'm doing the set. I've also realized as I came to terms with the set collecting issue - that it's incredibly liberating to NOT need certain random cards just because of the set. Technically now I don't "need" anything - each additional card I get because I want it, and only because I want it. And there is no next step or required piece. I may buy 50 more cards this year, or I may be done. It doesn't matter because there is no goal line.

5. Let it be a hobby, but not an obsession. If any decision around collecting or about a purchase becomes too stressful or difficult, let it go. The cards are what I go to ostensibly to escape the real world. If they are suddenly a source of stress themselves, well then something ain't right...

I could go on...but wiill leave these as my thoughts for now. Thanks!

[pitchernut]

Due diligence, one reason I don't care for tpg's.

[T205Cub]

For me, it's a few things:

1. Patience. If it's something that comes along pretty often, don't rush to overpay or settle for something you aren't happy with just because you want it now. Another will be along. That said, if it's something harder to come by and you're ready to buy, pounce when when it comes along assuming you're satisfied with it. It's OK to overpay a little IMO (within reason) for something scarce that you really want.

2. Finish what you start. When I was younger I found that I kept selling off stuff I'd started to fund the next obsession. I was having fun but my collection was going nowhere. I finally found the discipline in later years to stick with something until it's done, and now I have a nice collection. Also don't spread yourself too thin and have too many irons in the fire. Stay focused. Especially if you're a set builder. I guess this all goes back to patience, too.

3. Have fun and collect what you like. It doesn't have to be expensive, high grade, or what everyone else likes. If you don't enjoy the hobby then you're doing it wrong.

[Exhibitman]

Many interesting thoughts in this thread but they are all 'growed up' ones. I found the most profound lessons I learned from collecting were learned as a kid:

1: Negotiations 101: Card collecting was great preparation for business life. I got ripped off quite a bit when I first started collecting. A couple of older kids in my neighborhood took advantage of my naivete as a 6-9 year old. But those were early, cheap lessons in the psychology and the nuts and bolts of deal making: how to maintain a poker face, how to facilitate a negotiation, bundling items for trade or sale, how to approach discounting, etc. By the time I was a tween I was a card shark, so to speak, and by the time I got to professional practice as a lawyer, analyzing and negotiating settlements in civil litigation was second nature to me because of all the negotiating I did as a kid card collector.

2: The value of information: I devoured everything I could find on cards and collecting. As a result I developed better knowledge of rare and esoteric issues than many others, even dealers. One of the reasons I've always gravitated to oddball issues is that relative information advantage. It is one reason why I spend so much time at the National going through random accumulations of stuff: there's gold in them thar piles, if you know how to look at them. That lesson has served me well in life too.

3: STFU and listen: You have two ears and two eyes and one mouth, so you should probably speak 20% of the time and listen and watch 80% of the time. People will reveal so much about themselves, if you shut your cakehole and pay attention.

4: When it comes to old stuff, don't just assume something is trash: a variant on information value. There have been quite a few times in my collecting life that I have stumbled across something that isn't in my collecting wheelhouse but that seemed interesting and worth saving, and I have rarely regretting saving it. My greatest find was literally saved from the garbage: I salvaged thousands of pieces of Academy Awards memorabilia from the trash when I was hired to clear out 50 or so old file cabinets at my father's public relations company during spring break one year in college. I didn't even know there was a market for the stuff but it was so cool that I kept everything that looked interesting, and selling it over the years paid for a lot of baseball cards.

5: Your word is all you have: should be self-explanatory but unfortunately isn't. You have one reputation so you best not destroy it with shady practices.

[oldjudge]

Originally Posted by Leon

Saying Mr. Kendrick has the best collection is a bit naive, imo. He has some great looking high grade cards for sure. But there are other collections which are far more valuable and with a much greater breadth....

and something learned would probably be ...to be patient.

Leon is exactly right. Kendrick probably has the finest, or close to finest, copy of every card he has. Unfortunately, he does not have a lot of diversity in his collection. There are at least two board members who have both better, and more valuable, collections (not me, lol).

[drcy]

That you are an expert in one area doesn't make you an expert in another area. Approach a new area realizing there is much you don't know.

[Jdoggs]

Originally Posted by oldjudge

Leon is exactly right. Kendrick probably has the finest, or close to finest, copy of every card he has. Unfortunately, he does not have a lot of diversity in his collection. There are at least two board members who have both better, and more valuable, collections (not me, lol).

Wow so that means at least 2 board members have each in excess of 30 to 40 million dollars worth of strictly cards.

[MikeGarcia]

Originally Posted by Jdoggs

Wow so that means at least 2 board members have each in excess of 30 to 40 million dollars worth of strictly cards.

Please use discretion ; sometimes TheWidowGarcia reads these boards...I'd just as soon she didn't know some things...

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