Under what circumstances would you part with your collection?
goodriddance189
Posts: 2,388 ✭✭
i figure most of the guys on here are collectors, or at least have collections of their own, so i must ask- what kind of events in your life would sway you to part with your collection? whether its medical, financial, or other, let me know what circumstances would be drastic enough to force you to sell your collection.
the reason i ask this is because im faced with a similar dilemma. i'm in college, i have no job, and i basically live off $700 a month from my mom. my ability to save or invest is pretty much limited to buying cards. i figure cards are a better "investment" than stocks or anything of that nature, because i have interest in cards and collecting. in the past 2 years since ive switched to collecting vintage, i've probably amassed a $7500 collection. luckily, most of the cards i;ve bought have since risen in value, so i stand to make about $2500 if i do decide to sell. this is pretty much my only long term savings, save for a few race cars i own. i always figured that it would take nothing short of a financial disaster to force me to sell off my collection. well, i've come across a nice financial disaster- marriage! i'm seriously debating popping the question to my girlfriend when we graduate. i never bothered to think that an engagement ring would cost upwards of $3 grand (i always thought they were pretty cheap because of that stupid "2 months salary can last a life time" commercial- based on my current salary, that would price em at about $50 bucks).
while this marriage idea is still several months away, odds are i'll be faced with selling off part of my collection to finance it, unless i wanna pop the question using a ring from a Cracker Jack box. i've given thought to NOT buying cards and saving for several months, but then i sobered up and realized that'll never happen.
the reason i ask this is because im faced with a similar dilemma. i'm in college, i have no job, and i basically live off $700 a month from my mom. my ability to save or invest is pretty much limited to buying cards. i figure cards are a better "investment" than stocks or anything of that nature, because i have interest in cards and collecting. in the past 2 years since ive switched to collecting vintage, i've probably amassed a $7500 collection. luckily, most of the cards i;ve bought have since risen in value, so i stand to make about $2500 if i do decide to sell. this is pretty much my only long term savings, save for a few race cars i own. i always figured that it would take nothing short of a financial disaster to force me to sell off my collection. well, i've come across a nice financial disaster- marriage! i'm seriously debating popping the question to my girlfriend when we graduate. i never bothered to think that an engagement ring would cost upwards of $3 grand (i always thought they were pretty cheap because of that stupid "2 months salary can last a life time" commercial- based on my current salary, that would price em at about $50 bucks).
while this marriage idea is still several months away, odds are i'll be faced with selling off part of my collection to finance it, unless i wanna pop the question using a ring from a Cracker Jack box. i've given thought to NOT buying cards and saving for several months, but then i sobered up and realized that'll never happen.
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If you know someone in the jewelry business or know someone who knows someone, see if you can get an "inside" deal. Jewelry is about the biggest ripoff out there, especially those stores in the malls. Do some research first and you might be surprised. You might only have to save for a month or so.
Then again, she might be the type that "requires" a 5 carat "rock"!
Good luck in whatever you decide.
JEB.
I would say that buying an engagement ring is a pretty good reason to sell your cards. There are a number of things more important than cardboard...one of them is your spouse (or future spouse).
Cards will always be around....guys like us will always be buying and selling to feed our addiction. My advice would be to put your financial efforts into advancing your personal life, graduating college, reducing debt (if any), buiding a career and then resume your hard-core collecting when you have your ducks in order.
Dont worry...we will still be here to welcome you back.
John
edited: syntax
Check around. My grandmother gave me a diamond for my engagement. Are there any family (hers or yours) heirlooms that might work? She would probably love to get something that came from one of your families. My wife's engagement ring came from my grandmother (the diamond) and her wedding band has 3 very very small diamonds that came from her mother.
Also- just remember that your cards, no matter how much they mean to you are just cardboard. Your future wife (presumably) is much more important to you than your cardboard.
Also if you have $7500 in cards, it sounds like you might only need to sell 1/3 of them to pick up a nice ring for her.
Good luck. This is a great time in your life. Enjoy it!
The 2 month figure is put out by the people that sell rings. tYou shold tave some discussions with the woman that you plan on having as a partner in your finacial future with and find out how she feels about buying something that you can not afford at this point in time.
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That is the best advise that you could give goodriddance. It was a little harsh, but right on.
1954
Addition by subtraction can be a fun experience, and the cards will always be available.
Being in the replacement door and window business, I can only say that you made a very wise choice.
I proposed soon after grad school with a ring that my mom had received from her mom on her wedding day. My wife LOVES the ring.
When I finished grad school, I sold my cards on Beckett online and eBay once it got started to pay for weekly 'dates' with her. I recently sold a ton of my PSA sets (#1 73 '53 reprints set, an almost complete 1950 Bowman FB PSA 8 set, and a bunch of my high end 1950 Bowman PSA 7s and 8s) to pay for my downpayment.
Like the other guys have said, this is an addiction that will always be around. Cards are just cards and the chase is usually what keeps us around. Sell what you can part with and get her something she'll love for the rest of her life. If you don't end up putting her first on your list... you'll be having this discussion a few years down the line after you get married!!
Yup, we beat UCLA last week in hoops, but lost to Kansas... oh well. Hopefully we can make it to the big dance this year!
Nick
Reap the whirlwind.
Need to buy something for the wife or girlfriend? Check out Vintage Designer Clothing.
One good thing about your collection, the bulk of it is high grade vintage hockey so you would be able to sell it by emailing ten people and you could likely have your money in 7 days.
Randy
Anyhow the only reason I'd part with my collection is because it's financially irresponsible for me to keep it with the recent disaster that I'm legally responsible to pay for for the next couple years.
On a good note however,I'm really enjoying getting to know a little more about the cards in the set,scanning the pop report,constantly looking at the cards and learning something new about them.
Not to mention - chatting with a handfull of folks who are interested in building the set.
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Steve P.
"bauerfan"
<< <i>I think koby has hit the nail on the head with his analysis. >>
Thanks Vargha. I just didn't want the young man to lose sight of what's really important.
<< <i>Don't sell your collection. It sounds like your mother is very generous with the $700 per month. See if you can get a ten month advance from mom and purchase a nice ring for your fiance. Father of the bride will pay for the extravagent wedding where your friends and relatives will shower you with tons of gift including some cash. Use the cash to purchase more cool cards for your collection. When you have children, you may be entitled to some government assistance because you do not have a job. More money for your card collection. Where there is a will there is a way. THe msot important thing is that you never part with your sportscards. Best of luck to you and congratulations on the beginning of a fantastic collection! >>
koby, i think you are misunderstanding me. i dont have a job and no source of income other than my mom's monthly allowance because i'm in college. i don't plan on being a financial drain on the government and society when i graduate. i'm going to college to get an education and a good job. i've never had anything other than random summer jobs because my dad (when he was alive) wanted me to focus on school and such. my parents are well off, and they can afford to give me a monthly allowance. this isn't just free spending money, it goes to clothes/food/gas/etc. i rarely have more than $100 or so extra to spend. most of my card money comes from selling on ebay, sports gambling, and racing my car. the only reason i mentioned selling off the collection is because i refuse to ask my mom for assistance. i like being financially independant. in fact, if i could balance a job and school at the same time, i probably would refuse to take any money from her. it would just be difficult coming up with $2000 plus on the spot, other than selling some cards or stock (neither of which i want to sell).
I hear you loud and clear. You don't want to sell your stocks and you do not want to sell you sportscards. Here is another idea:
Apply for a Stafford loan. Interest doesn't start accruing until six months after graduation. By then you will have a high paying job and no money worries.
I think Stafford loans are up to $8000 per semester. One semester loan should be more than enough money to purchase a nice ring for your fiance. The leftover money can be used for betting on the Super Bowl or modifications to your car or more sportscards..... the choice is yours.
Just thinking of ways in which you can keep your collection. Best of luck to you!
Koby