How do you mentally adjust on pricing?

[hcv123]

I've been at this for 30+ years. Rewind (insert # of years) and I can relate to the sentiment many times over. In general prices of all goods go up over time. Do you stop buying your favorite food which has increased in price ( I understand food is a necessity, but not any specific food)? I collect/buy/sell what I enjoy. Hindsight has proven 1 thing - it is the cards I didn't buy at any point in time over the past 30 years that "hurt" a lot more than any that I did.

[bbcard1]

Over the last year I have bought very little as I have not been able to get my head around the pricing. I even flirted with selling my collection, but it really is my retirement job to liquidate it. I did pick up a 1952 Bowman near set that I thought was priced well and I had a mantle already so I finished that up. I have bought a couple of Oh rookies which I think are still nicely priced, but I'm mostly sitting on the sidelines. I have peceived a weakening in the market to an extent, but I don't think it will settle back where it was a couple of years ago.

[obcbobd]

Nice post. I've been struggling with the same thing.

Regarding the comparison with the S&P 500, I treat that as an investment, the price rises over time and that is fine as the value of my portfolio is also rising and eventually I will start selling at what I hope is at a the higher price.

For cards, I am definately a collector and not an investor. I purchase a card to own it; likely forever. I would rather the card than the money. For example, about 25 years ago the $300 I spent on a raw Ruth (PSA2?) seemed reasonable. I knew I would get more joy out of the Ruth than the $300. Now that I am close to retirement and have the cash, I've thought of upgrading that card, but to pay $25k or so to upgrade doesn't make sense. $2k yes, but to be honest I'd rather the $25k. The fact that my $300 card is now worth $6000 brings me no joy as I have no plan to sell.

I've come to the realization that there are cards I will never own due to their high price. Hank Aaron rookie etc. I will adjust my collecting focus accordingly. It seems I am buying a lot less, sitting on the sideline. I am thinking of narrowing my focus, perhaps giving up some sets, selling or trading those cards to finance higher purchases on cards in sets I am working on. I'll be missing that National this year but will hit the big local show later in the year (Shriner's). Hopefully, this will reenergize me. Not sure what I will do if $1 cards are $5 and $5 cards are $20.

[Johnny630]

Mentally Prepare By Accepting it or Not Buying. Sadly I’m priced out of almost every card I want in the shape I collect. I won’t collect lesser shape just to buy something. I’m just going to give up and be happy with what I have :-), if it comes down and I can buy again great if not I’m fine too.

It’s no longer A Blue Collar Hobby For Me.

[bbcard1]

I do have to admit that my buying power has increased a lot over the last couple of years, but even before the runup I was struggling with where to go next in my collection. I have complete sets back to 1961 and have done several vintage sets.

I'll probably do a shoebox collection 1957 set next. I did the same with a 1959 a couple years ago and it was fun, not too financially taxing.

[Exhibitman]

Will I pay $3200 for a vg Aaron RC? Nope. The common stuff will come back down some from its peaks. Patience is the key. There's enough of it that it will be around. Prices are already falling from the late winter/early spring peak. The real rare stuff (not that BS condition rarity but actual numerical rarity) isn't affected one way or the other. Just grab it when you find it and be glad you could. If you are monetarily-oriented, buy what's not hot, like memorabilia.