Funding your hobby...

Ricky · #1 02-12-2019, 02:13 PM

I just sneak money out of my wife's purse...

ALBB · #2 02-12-2019, 02:20 PM

I think many guys stay glued to Ebay in that hope of - Wow, I steal that ..and I can turn it around for a profit. Most times when you add the shipping and now this annoying" state sales tax "or some other add on.....it doesnt work out..especially when - after all is said and done..that 57T Drysdale which cost you $ 29, you barely sell it for $34 a month later !

Also, when an item it bought off ebay..and then attempted to be sold on Net54....dont you think most passionate collectors have seen it..maybe even bid on it

jchcollins · #3 02-12-2019, 09:58 PM

Quote:

Originally Posted by ALBB

..especially when - after all is said and done..that 57T Drysdale which cost you $ 29, you barely sell it for $34 a month later !

This story sounds very familiar, except with me it was a '57 Koufax in about VG condition 15 or so years ago - that I bought for $50 and probably sold for $40.

jchcollins · #4 02-12-2019, 02:28 PM

Quote:

Originally Posted by Ricky

I just sneak money out of my wife's purse...

I wish. Right now my collection is kind of a revolving door. Essentially the only "new" money I spend on cards each year is Christmas and birthday money, things like that. There is certainly no category in the family budget for my card habit. If I splurge on something later which is not tied to that, I usually have to wind up selling something from my collection to make up the difference. This actually usually works out; I sometimes tire of certain things and it keeps my interest in the cards new and usually somewhat varied.

Ricky · #5 02-12-2019, 03:05 PM

Quote:

Originally Posted by jchcollins

I wish. Right now my collection is kind of a revolving door. Essentially the only "new" money I spend on cards each year is Christmas and birthday money, things like that. There is certainly no category in the family budget for my card habit. If I splurge on something later which is not tied to that, I usually have to wind up selling something from my collection to make up the difference. This actually usually works out, I sometimes tire of certain things and it keeps my interest in the cards new and usually somewhat varied.

I get too attached to my cards to do this, even though it's a smart way to operate. If I sold any of my vintage cards, as soon as I did, I know I'd want them back...

Vintageismygame · #6 02-12-2019, 03:14 PM

I picked up a property management client on the side that pays north of $3k/month. I might have 15 hours a month invested in actually being at the property.

I fund my Roth IRA first, put $10k in my regular investment account and the rest is spent on my choosing (aka cardboard).

DHogan · #7 02-12-2019, 03:17 PM

My father in-law accused me of stealing my wife's money. He knew I collected sports cards. I told him that's how I pay for my card collection. He likes me a whole lot less now.

Luke · #8 02-12-2019, 03:30 PM

If you understand the market for the items you collect extremely well, you can start doing this today. You just need to know instantly when you see something what it's value is. If you don't know any sets/issues/players, etc this well, then you either need to spend a lot of time studying, or just decide to not worry about it. I'm sure there are tons of people on the board who keep their eye out for things they collect and occasionally buy something they don't need just because they come across it and it's a good deal.

AGuinness · #9 02-12-2019, 05:05 PM

I've primarily funded things the same way, year-end bonuses, gifts, etc.
After I got back into the hobby, one thing that appealed to me was buying some of the important cards that were big when I was growing up but could never afford. Part of my idea was that I could potentially hold them for a while, sell at a profit and put the money back into other cards. And at times, it worked nicely - other times, not so much.
One of the cards I got early on was a T206 Speaker (Sweet Cap back), which opened the door to learning a whole lot more about T206s and pre-war stuff. That made me rethink things and started me on my T206 journey I'm still on now. I sold that first Speaker to help with my T206 project (not done yet!), and now I find it challenging to put the money I get from selling stuff into other cards I plan on selling because my PC has so much stuff I want to fill in.
A couple quick thoughts:
COMC is a great place to flip and learn lessons about flipping. I've tried various strategies (modern rookies, autos, slabs, buying wax, etc.) and figured out a few things that I prefer. While I've made plenty of dumb mistakes, I've also learned a lot and been able to cycle through funds there, reinvesting some and using some for purchases. I haven't put in any money in years, but have bought plenty of cards that now reside in my PC.
One of the biggest/best pieces of advice I took to was to buy things that you'll appreciate or like even if they lose value. In other words, if it's something you end up not being able to sell for bupkis, but you still can enjoy, that's going to be a good buy no matter what.
I do think that selling things helps with buying things, as the process helps build appreciation for what attributes matter most, certain downsides to specific cards (such as common print defects that might not be calculated into a grade) and in knowing the cost and work going into a sale.

Rhotchkiss · #10 02-12-2019, 06:54 PM

Quote:

Originally Posted by Ricky

I get too attached to my cards to do this, even though it's a smart way to operate. If I sold any of my vintage cards, as soon as I did, I know I'd want them back...

This x10

Jobu · #11 02-12-2019, 07:26 PM

Ryan, I am going to request one exemption.

Quote:

Originally Posted by Rhotchkiss

This x10

savedfrommyspokes · #12 02-12-2019, 07:43 PM

I have built my entire collection off of buying/selling for a profit. My comment to anyone considering this method to fund their collection is I realize the greatest profits from sellers I regularly buy from.

JollyElm · #13 02-12-2019, 07:57 PM

Virtually every single card I buy is bought 'knowing' I could turn a profit on it were I to sell it...but, let's be honest, I know for damn sure that I am wrong with regard to 99.9% of them.

jchcollins · #14 02-12-2019, 10:01 PM

Quote:

Originally Posted by Ricky

I get too attached to my cards to do this, even though it's a smart way to operate. If I sold any of my vintage cards, as soon as I did, I know I'd want them back...

I often get this feeling too, but 95% of the time it's what I call "pre-" seller's regret. In that I think about and agonize over which cards I really want to sell before I actually do it, but then a large majority of the time after they are gone, I don't think twice about it and am able to move on. I have a few passive regrets on cards that got away years ago - I remember getting rid of them and occasionally wish I hadn't - but it's nothing that keeps me up at night.

jchcollins · #15 02-12-2019, 10:12 PM

Thanks all for the encouraging replies here. I think at a minimum I'm going to check out COMC more in-depth. I've always heard about them, but have never taken the time to really learn what it's all about. As for the rest, I feel like I have as good a shot as anyone to be at least marginally successful in flipping cards for profit if I really took that approach. I already fund "most of" my new purchases with card sales, but I could stand to get more efficient and proactive about it rather than always acting after the fact.

doug.goodman · #16 02-12-2019, 10:50 PM

I sell my services to others for money to fund my hobby.

Directly · #17 02-12-2019, 11:21 PM

Open your eyes, look around--many collectors aren't interested in just buying baseball cards.

Diversify--look around!

This week I bought a antique sign and some other artifacts for $305.00
Sold the lot for $1050---

Purchase a raw 1968 Ryan RC a 1958 Gibson RC and a 1972 Munson RC for $550 sent to PSA sold for 1550.00

One time I bought a piece of jade for 25.00-sold too cheap for 500.00

Bought a Civil War belt buckle for $100 sold too cheap for 800.00

--Buy-sell-trade--if you think someone might pay more-buy it--!

tschock · #18 02-13-2019, 11:09 AM

Quote:

Originally Posted by doug.goodman

I sell my services to others for money to fund my hobby.

LOL
D0ug G00dM@n, Card Prostitute!

(said in the spirit and voice of Dan Aykroyd's character, Fred Garvin)

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