Valuation

[rainier2004]

Originally Posted by Hankphenom

The wealthy know that it pays to buy the best, but the problem comes in having the wherewithal to do that. The rest of us are stuck with the reverse--and more difficult--proposition: buy low, sell high.

Then there's the buy low, don't sell model...I like that one better.

[Snapolit1]

Originally Posted by rainier2004

Then there's the buy low, don't sell model...I like that one better.

Buy low sell high is a beautiful thing. My experience has been that buy high sell higher is a lot more common.

[Snapolit1]

Really just a variation on the old adage “buy the best house you can afford”.

[drcy]

Disagree with the sentiments in this thread. The way to wealth isn't via overpaying. Rather a silly notion if you ask me.

[Snapolit1]

When I was a kid I used to hound my old man about buying the inverted Jenny airmail stamp. (You may know what it is, US airmail stamp with airplane upside down.) In 1971 some lunatic bought a plate block (4) of them for $150,000. At the time it was considered sheer insanity. There were headlines in the paper about the craziness of it. Today it's probably worth north of 5 million. During the same period of time thousands of US stamps that are hoarded away by folks have stayed flat or gone down in value. I am sure the same thing is true with baseball cards.

It's not about overpaying. It's about paying more than anyone else for something that is a genuine scarcity and having the vision that demand for it will grow over time.

[drcy]

Whenever the topic of what cards are good investments comes up, I mention that it's not just the card but what you pay for it. Paying more than market price, or even at market price, is bad investing practice.

I also think asking "what is a good investment?" is a sign of myopic financial thinking, but that's another topic.

[conor912]

Originally Posted by drcy

Paying more than market price, or even at market price, is bad investing practice.

I'd like to hear more about all these investments you're getting at below market price.

[mechanicalman]

Originally Posted by drcy

Disagree with the sentiments in this thread. The way to wealth isn't via overpaying. Rather a silly notion if you ask me.

I don’t believe this thread is about the “way to wealth” through baseball cards.

[rainier2004]

Originally Posted by mechanicalman

I don’t believe this thread is about the “way to wealth” through baseball cards.

Yeah, I didn't read that was the topic of the thread either.

Drcy - sometime you simply have to "overpay" according to the market, if I feel its worth it that I am just paying market value. When there are 6 or examples that exist of a card, buying something privately can actually save money as it can blow up in an auction. Glad we disagree...

[jbsports33]

education is the key to everything, even this hobby!

Jimmy