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mchenrycards
Featured Contributor, Vintage Corner, Senior Membe
Setting aside prospecting.....Does anyone "invest" in sportscards and had a decent return
So I got to thinking about future investments such as stocks, bonds and other well known investment strategies but I know next to nothing about these options. I have always been told to educate myself before investing but when one is younger, many times that advice is in one ear and out the other. As I get older and look towards retirement I have been looking at other ways to expand the little bit of retirement income I have and I got to thinking about what I know and that is sports cards.
Let's just throw out prospecting as there is too much volatility there and of course, one needs to study who is coming up in the minors and basically do your homework like you would on stocks. I am not talking about pack ripping as this certainly IS a gamble. What I am talking about is buying raw and flipping once the card is graded. Or buying raw at a good price and flipping it for a profit as a raw card. Basically using your hobby knowledge, trying to find those great deals in which you can make some money and actually going out there and doing it. I am a baseball card collecting purist but as I age I have more knowledge and less desire to collect a mountain of cards my kids will not likely want anyway so I thought I would use that knowledge to make some money on the side. Has anyone done this with any great success over a period of time or has it been not worth the time or effort as the profit that has been made is not significant.
I would love to hear others thoughts and experiences.
So I got to thinking about future investments such as stocks, bonds and other well known investment strategies but I know next to nothing about these options. I have always been told to educate myself before investing but when one is younger, many times that advice is in one ear and out the other. As I get older and look towards retirement I have been looking at other ways to expand the little bit of retirement income I have and I got to thinking about what I know and that is sports cards.
Let's just throw out prospecting as there is too much volatility there and of course, one needs to study who is coming up in the minors and basically do your homework like you would on stocks. I am not talking about pack ripping as this certainly IS a gamble. What I am talking about is buying raw and flipping once the card is graded. Or buying raw at a good price and flipping it for a profit as a raw card. Basically using your hobby knowledge, trying to find those great deals in which you can make some money and actually going out there and doing it. I am a baseball card collecting purist but as I age I have more knowledge and less desire to collect a mountain of cards my kids will not likely want anyway so I thought I would use that knowledge to make some money on the side. Has anyone done this with any great success over a period of time or has it been not worth the time or effort as the profit that has been made is not significant.
I would love to hear others thoughts and experiences.