Funding your hobby...

[Peter_Spaeth]

Keep in mind paypal transactions are now reported to the IRS, in case that's a factor for you.

[jchcollins]

Originally Posted by Peter_Spaeth

Keep in mind paypal transactions are now reported to the IRS, in case that's a factor for you.

Yeah but only if over $20K or more than 200 payments in a year, I think.

[packs]

I always keep an eye open for a deal. I buy cards all the time that I have no interest in but am able to pick up on the cheap for resale only.

[x2drich2000]

It is definitely possible to do. The big question is how much time and effort do you want to put into it and how long are you willing to hold an item to get the price you want. I believe knowledge and patience are the keys. I'm a firm believer you could make money selling 88 Donruss, if you buy them at the right price.

DJ

[thatkidfromjerrymaguire]

Originally Posted by x2drich2000

I'm a firm believer you could make money selling 88 Donruss, if you buy them at the right price.

DJ

Haha...I'm pretty much with you, however I don't think anyone in history has ever made money selling 88 Donruss (except maybe my local card shop owner circa 1988 selling me boxes of that stuff at full price when I was chasing that Roberto Alomar Rated Rookie and those Diamond Kings).

[thatkidfromjerrymaguire]

Great question John. I've bought cards strictly for resale a couple times, but I keep coming back around to just trying to enjoy my cards without over thinking the profit side of it. Trying to buy and sell cards for profit suddenly starts to feel like too much work

That's another cool aspect about this hobby...you absolutely CAN use it to generate a little extra cash, and it appears that there are some people on this board that are making a living out of it. And that's awesome!

But I've realized I personally have more fun acquiring cards I like in slightly lesser condition to look at them in my albums, research the players, etc. I do try and be sure not to overspend on the cards I buy, because I'd love to be able to at least sell my cards for near the same price I bought them if I ever quit enjoying them.

[Throttlesteer]

Originally Posted by Peter_Spaeth

Keep in mind paypal transactions are now reported to the IRS, in case that's a factor for you.

That explains 5he guys in black suits in the blacked out Suburban parked across the street from my house