Funding your hobby...

Luke · #1 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 · #2 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.

mechanicalman · #3 02-12-2019, 05:09 PM

Personally, I find that putting my time and energy into non-baseball card ventures affords me more disposal income to spend on baseball cards.

vintagetoppsguy · #4 02-12-2019, 06:45 PM

I'll buy anything that I think I can make a profit on. I have several different selling platforms - eBay, neighborhood website, bulletin board at work (we have 5000+ employees), Craigslist, etc. That's how I fund most of my card purchases.

Anybody need a Chi cordless curling iron? I just picked up a lot of 10 brand new in the box. Seriously.

BeanTown · #5 02-12-2019, 06:54 PM

When investing, its always good to diversify and put your money in something you have a little knowledge about. Its always good to invest in yourself than other people companies. Do your research, ask questions, and keep buying cardboard I say!

#6 02-12-2019, 11:27 PM

Yes, I flip. Couldn�t afford to collect the cards I have without doing so. Currently have about $12k invested in a modest collection worth between $75-$80k.

pokerplyr80 · #7 02-13-2019, 01:23 AM

I've bought a few cards I felt were under valued and sold later for a profit. And have sold others to help fund new purchases. I've come out ahead more often than not. But I primarily just buy cards I enjoy owning and hold onto them for a while.

AGuinness · #8 02-13-2019, 11:52 AM

Quote:

Originally Posted by jchcollins

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.

Quick add-on about COMC: they changed their fees structure as of Jan. 1 in part to try and make higher-priced cards move easier. In the past, COMC has definitely been a place where many people had museum prices for items, even low-grade/high demand cards with low eye appeal. It remains to be seen if the new fees structure will bring those prices down, but from my experience, COMC is somewhere to go for lower priced items for my PC.

Quote:

Originally Posted by Directly

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--!

That's impressive! I'd definitely love to do this, but I barely have the time to enjoy researching the cards/sets that I want and keep an eye out for the examples I can afford. Maybe when we become empty-nesters in 12 years I'll take up finding other stuff to flip!

Quote:

Originally Posted by Gobucsmagic74

Yes, I flip. Couldn�t afford to collect the cards I have without doing so. Currently have about $12k invested in a modest collection worth between $75-$80k.

Well done! I think for me, at some point, I'd pull out the cash I initially put in and enjoy the hobby without any real skin in the game!

bmattioli · #9 02-12-2019, 07:02 PM

I metal detect, scrap metal, turn in cans and bottles etc.. anything to make a buck for my Flea market hunts from Apr-Dec.. I'm in redraws..

Rich Falvo · #10 02-12-2019, 07:25 PM

I try to stick with only spending money that I earned from selling off other stuff. Not always successful. I�m getting better at selling stuff from sets that I will never finish or stuff that I never take out to look at. I�ve been selling most of my coin stuff to fund baseball cards because I�m enjoying the cards more.

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