Follow up - Buying Vintage Cards – Buy Now or Buy In 12 Months

[anchorednw]

What you buy is more important then when you buy it if you can hold for a long time.

+1 This.

[Peter_Spaeth]

Asking whether to buy now or later is trying to time the market. Good luck with that. The world is littered with people who have been burned trying to figure out where markets are going. Why ask, all you're going to get is either people being smart and saying I have no idea, or people pontificating as if they know something.

[parkplace33]

Originally Posted by Peter_Spaeth

Asking whether to buy now or later is trying to time the market. Good luck with that. The world is littered with people who have been burned trying to figure out where markets are going. Why ask, all you're going to get is either people being smart and saying I have no idea, or people pontificating as if they know something.

I enjoy seeing opinions and obtaining information from these types of posts.

[Peter_Spaeth]

Originally Posted by parkplace33

I enjoy seeing opinions and obtaining information from these types of posts.

You know what they say about opinions.

[Exhibitman]

Trying to time it is fun, especially if it isn't a giant piece of a portfolio and you can indulge yourself. For me, the more important thing is to have an exit strategy and not let the greed overwhelm it. If I want to have a card until I die, that's one thing, but if I don't, I prefer to set a price level I will be happy with, get out when it hits, and put the proceeds into the next deal, preferably something that has not risen lately or that has a proven track record. The odds are that a mainstream card that skyrockets in value for some reason (HOF election, documentary, etc.) will come back down, so I can cash in now and then wait to reacquire it. My favorite basketball player as a kid was Dr. J, Julius Erving. I bought an Erving rookie card before the price run on basketball, watched it soar during the craze for basketball cards, and pulled the trigger on a sale when it was over $5,000. It eventually crested over $9,000 a few months later. I have zero regrets that I didn’t hold on longer and eke out that remaining profit. I made crazy money that I reinvested into vintage cards because they were stagnant at the time. At this point, the card has steadily declined to about $2,000, which is still about 2x its starting price. If I wanted to reacquire it now, given the trends I would wait and see for a few more months. Worst case, I pay about what it costs now, but best case, I buy it for half that.

[toothcutter]

Originally Posted by Peter_Spaeth

You know what they say about opinions.

Please explain

[Exhibitman]

Opinions are like good advice

Good advice costs nothing, and it's worth the price
I sincerely doubt
That the world could do without
My good advice

[Peter_Spaeth]

Originally Posted by toothcutter

Please explain

Opinions are like certain body parts, everyone has one.

[Exhibitman]

Back to the OP. I'd say waiting a bit on mainstream cards is not a bad idea. Prices have definitely been slipping the last several months. Something that doesn't come up for sale too often, well, you more or less have to grab it while the item is there to grab.