Resisting the Urge to Sell

[Exhibitman]

My rule of thumb is that if I don't have the cash to pay for something hobby-related I should not be buying it. If I was to bid on something at auction that required me to draw on a LOC to pay for it, I would do so only with the understanding between me and my CPA, er, wife, that I would liquidate other items to pay down the credit line and any accrued interest. My feeling is that when you start taking on debt to cover hobby stuff it has turned from a hobby into an addiction.

[ullmandds]

I'd follow Adam's advice...he's a smart cookie!!!! I totally agree...they're just cards...you can't eat them...or live within them...many things in life more important than old cardboard...and certainly not a good thing to go into debt over?!

[Ladder7]

Once you've put away five years worth of your household's salaries and are contributing generously to your 401k and own a home. Then it may be okay to play with baseball cards... Damnit, forgot about college tuition

Easier said than done, I know. Try to focus on one niche that makes you happy. Hunt for bargains and resist overpaying for something that may reappear. Mine niche is htf Boston items now. Everything else in our shoebox is tradeable in order to fill holes. No appreciable value lost, or gained. But I enjoy it a lot more. I'll be on a fixed income shortly. So our collection is as valuable as it'll ever be in my financial lifetime.

[CardsFan999]

Originally Posted by Exhibitman

My rule of thumb is that if I don't have the cash to pay for something hobby-related I should not be buying it.

That used to be my rule of thumb as well and most of the time it's very good advice. The problem is timing. In cases where I might have the Paypal funds to cover it in two or three days, but I don't have it today, it is helpful. If an auction is ending shortly, and buy it now pay immediately, there is no reason to lose out on a good deal on an item because you don't have the money right this second. Definitely not a good approach for people that have problems with credit cards but that is not me.

[cubsfan-budman]

Originally Posted by CardsFan999

If an auction is ending shortly, and buy it now pay immediately, there is no reason to lose out on a good deal on an item because you don't have the money right this second.

I don't mean to hurt your feelings or particularly offend you, but this is a child's attitude and not one that is going to hold you in good stead in the years to come.

What if you accrue debt vs. hobby stuff and then lose your job? Or if your partner or you gets sick. I sincerely hope nothing bad happens to your or yours, but prioritizing hobbies over practicality and self-reliance is a recipe for bad things

[ullmandds]

you can lead a horse to water...

[conor912]

if you have to borrow the money, it's not a good deal

[CardsFan999]

Originally Posted by cubsfan-budman

I don't mean to hurt your feelings or particularly offend you, but this is a child's attitude and not one that is going to hold you in good stead in the years to come.

What if you accrue debt vs. hobby stuff and then lose your job? Or if your partner or you gets sick. I sincerely hope nothing bad happens to your or yours, but prioritizing hobbies over practicality and self-reliance is a recipe for bad things

You probably have money buried in the back yard in case we have another depression. No wonder everybody in this forum collects pre-war cards -- their brains are stuck in the pre-war mode too.

[HRBAKER]

If I even consider buying a card "on time" (meaning paying for credit) then shoot me since my brain is stuck in the pre-war mode too. Of course I'm 53 so what do I know.
Now if I am in the business and I am investing in inventory, maybe.

[beachhead2]

Your collection and finances are personal so ultimately there is no answer we can provide. Are you flipping cards to (hopefully) make money or buying and keeping? I am definitely the latter. What I buy goes into my display. As laughable as it might sound, I'm working toward completing the collection. There's an endgame. Do you have a goal or do you own cards for a while, get tired of them, and then sell them?

[HRBAKER]

Originally Posted by CardsFan999

You probably have money buried in the back yard in case we have another depression. No wonder everybody in this forum collects pre-war cards -- their brains are stuck in the pre-war mode too.

Is this the perception you have of people who choose to live debt free?

[Jewish-collector]

As I'm figuring out which direction I want my collection to go, there have been times that I'll buy a card on ebay, but then a day or two after receiving it, decide I don't want it so I just sell it (usually for the same amount).

[Exhibitman]

I'm not really deriding short term debt that will be covered with cash flow from a pending card sale. I get that from time to time when I've sold something and another item pops up.

I run all my household expenses through my CC for the cash back to my kid's 529 account, but I pay off the CC every month in full. I never accrue a rolling debt for a card.

The problem with using a CC for cards is that it is like a drug. The first hit is painless, but before you know it you are chipping at it all the time and you have a big debt to pay down. I did that one month when I decided to put my card buys on the CC and I was horrified with the result. Maybe you have better credit discipline than I do, but I could not trust myself to ebay with a CC. I have to give myself a cash allowance and stick to it. Unless, as noted in my first post, I need help to cover a major purchase for the short term via a dedicated credit line that I would then pay down with card sales.

[rainier2004]

Huh...touchy subject.

I followed "if I don't have the money, I cant buy it" for years with everything.

Last fall I broke it...while outta work. I had been hired but had a couple weeks before I started my new job. The opportunity came along to get the CJ Jax as a beautiful mid-grade for the price Id expect to pay for a rough poor one. So I talked to the wife, she begrudgingly said pull the trigger and I did. The plan was to have it paid off by the end of march...I actually borrowed against myself at 0.25% monthly penalties...that was 4 months ago, life has really gotten in the way and I still owe most of my debt. Ive sold more of my cards than I ever planned, w/o regret. But I will never do this again, ever ever ever. I just don't like the feeling of "owing", especially for cardboard. My penalty for this decision will only cost me a couple hundred dollars in the end, but I absolutely hate it...plus you're not in the hobby anymore as you're in debt. To buy cards now, I have to sell cards (I'm just about to sell my t205s and t206s...cards I didn't think Id ever sell). I love my card but have debated selling many times to end this...but it looks very nice in its display. To each their own, be careful, attitudes change.