Is it all about the chase?

[Hankphenom]

So much psychology at work in all aspects of the "hobby," as in our (more or less) free-market economy in general. As a dealer, I was always tempted to think I had underpriced an item that flew off my table right away, and overpriced items that sat there through several shows, neither of which was necessarily true at all. As the saying goes, timing is everything. Something that has always intrigued me is the reality that every item in every auction has a stopping point, and I wonder why, when there are so many collectors who could afford to buy every entire auction every year and never come close to feeling it financially. If you're sitting on 35 billion dollars and you want something you know will make you happy and you also know you will probably never have the chance to acquire it again, what could possibly make you stop short of getting it? The answer is not wanting to feel stupid, I guess. But if another person has just outbid you, doesn't that validate your bidding, no matter what level it's gotten to?

[timzcardz]

Originally Posted by Hankphenom

. . . . . If you're sitting on 35 billion dollars and you want something you know will make you happy and you also know you will probably never have the chance to acquire it again, what could possibly make you stop short of getting it? The answer is not wanting to feel stupid, I guess. But if another person has just outbid you, doesn't that validate your bidding, no matter what level it's gotten to?

If you're sitting on $35 billion you likely did not get to that point by paying more than you value something at (which is not to say that someone else doesn't have a higher valuation).

Not likely that you would suddenly change your approach.

[jchcollins]

I've been unable to find it recently, but I once saw an excerpt from a book about the psychology of collecting on Google which mentioned how few collectors of sportscards regularly go back and look at, admire, page through albums of their collection, etc. etc. - after they are finally able to acquire what in many cases took so long to chase after. Indeed we know many truly high end collectors have items stashed away in safety deposit boxes which rarely see the light of day, and some even at the mythical PWCC "Vault" where the security of their items meshed with the ostensible prestige of such a service must evoke an entirely different type of psychological pride.

I'm a nerd and look at my cards all the time, hell even take them on vacations sometimes. Yep, I'm the world's biggest 44 year-old third grader. But I know that what that book described is far more common for many collectors than what I do. I would agree there is tremendous value in our heads tied to the chase only.

Originally Posted by jchcollins

I've been unable to find it recently, but I once saw an excerpt from a book about the psychology of collecting on Google which mentioned how few collectors of sportscards regularly go back and look at, admire, page through albums of their collection, etc. etc. - after they are finally able to acquire what in many cases took so long to chase after. Indeed we know many truly high end collectors have items stashed away in safety deposit boxes which rarely see the light of day, and some even at the mythical PWCC "Vault" where the security of their items meshed with the ostensible prestige of such a service must evoke an entirely different type of psychological pride.

I'm a nerd and look at my cards all the time, hell even take them on vacations sometimes. Yep, I'm the world's biggest 44 year-old third grader. But I know that what that book described is far more common for many collectors than what I do. I would agree there is tremendous value in our heads tied to the chase only.

Me too. My wife calls me her man child. LOL. I have all of my collections out to enjoy and "play with". Binders/card displays, toy displays/dioramas and my man cave car garage. I swore to my self years ago I would never collect plastic tubs full of unseen collectibles like many of my collector friends do. I even pare down from time to time with my toys to just keep the ones I truly love. Haven't paired down any cards yet.

[timzcardz]

Sitting down in the evening with a little single malt and a binder of cards is a great way to relax at the end of week.

Writing that, I may just have a date tonight with my '58 set.

[jchcollins]

Originally Posted by timzcardz

Sitting down in the evening with a little single malt and a binder of cards is a great way to relax at the end of week.

Writing that, I may just have a date tonight with my '58 set.

A great way to enjoy cards, although drinking and access to a computer has frequently led to me unintentionally improving my collection.

[Hankphenom]

Originally Posted by timzcardz

If you're sitting on $35 billion you likely did not get to that point by paying more than you value something at (which is not to say that someone else doesn't have a higher valuation). Not likely that you would suddenly change your approach.

Kind of by definition, does anybody ever pay more than they value something at? I think it's more accurate to say that nobody wants to feel that they're being stupid. Also, an enormous amount of money is inherited, so your answer wouldn't apply there.

[egri]

In the Heritage auction that just ended, a signed 1953 Topps Mickey Mantle went for just under $20,000. There is one sitting on eBay right now for $9,000. It's not in as nice shape, but the condition difference alone isn't $11,000.

[Bigdaddy]

Dad used to tell the story of the time he was working in the local hardware store back in the early 1950s. They would have a display of paint brushes or screwdrivers that were not moving, so the owner would mark them up and put a 'Sale' sign on the display and they would fly out the door.

#getemwhileyoucan