In today's economy, with reference to collecting, I am ...

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Posted By: JimCrandell

Jeff,

True--it affects most.

If I only would have sold some stock though--

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Posted By: Frank L.

Buying low, especially HOF's pre 1930.
No selling

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Posted By: Rick McQuillan

I don't have a ton of money in my 401k, but all of it is in relatively stable investments so my losses have been minimal compared to others. I have been buying much more in the past 3 months. I have added quite a few cards to my lower grade T205 and T206 collections, and when I see a bargain on the bay or the bst I take advantage of the lower prices. I am seeing more collections of newer cards for sale, and at the moment I am bargaining on 4 separate collections, which I hope to flip and make a few bucks so I can blow more money on my T206's.

Lower grade T206 HOF'ers seem to have dropped a bit, with Good and VG Cobb's down a couple of hundred bucks.

Rick

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Posted By: Cat

I've made the decision to sell off some easier to find cards (mostly non-vintage), and a couple duplicates or cards that don't fit my collection. Some cards I will take a loss on, but I would rather sell the easy to find items at a loss than the hard to find items for a gain. Similar to the stock market, in times like these, you will come out ahead by selling the dogs for a loss than the winners for a gain, since the winners will have tremendous upside in the future.

I'll take the proceeds from the cards and put it in a mutual fund. I believe that 20 years from now the stock market will be right where it would have been anyway, without the sub-prime/financial/automaker meltdown, so this has essentially provided a buy-in opportunity.

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Posted By: Jeff Lichtman

"I believe that 20 years from now the stock market will be right where it would have been anyway, without the sub-prime/financial/automaker meltdown, so this has essentially provided a buy-in opportunity."

Cat, I hope you're right, though I'm not as hopeful at the moment. I keep thinking back to the Nasdaq in April of 2000. It was at 5050 then; today it stands at around 1500, 8 1/2 years later.

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Posted By: Bob

The economy has slowed down not only my buying but also selling as I am not going to give cards away but rather will sit on them and sell when things get a little better. Luckily my buying focus has become narrower and because few of the cards I am really after are available for sale, I don't find that I am buying much lately.

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Posted By: leon

I agree. I am painfully aware of where the Nasdaq was and where it is..Every time I look at it I say to myself "And that used to be over 5000 7-8 years ago"....now, it teeters on a 3rd of that or less.....

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Posted By: JimCrandell

Think more that before Reaganomics kicked in the Dow was in the 600s--

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Posted By: Rick McQuillan

I know I'm old, but I remember watching the Dow in the late 60's when it was in the 500 range. The thinking back then was that the Dow would never reach 1000.

Rick

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Posted By: Jeff Lichtman

Rick, give it time -- it may get there yet!

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Posted By: Dan Paradis

If you have the $$, now is definitely the time to buy!

I remember 1 year ago thinking "I'll never find a Bottomley RC 23 Maple Crispette". If I did fine one, I was prepared to pay at least $1500 for a low grade card. Last month I bought a raw (now SGC20) Bottomley RC on eBay for $361. My snipe was $1200. Maybe now I can start making up for all the overpaying I've been doing in the last three years!

Dan