Anyone Else Try to Build a High Grade Vintage Set on the Cheap?

gemint

I'm building a 1961 PSA 8 or better set and trying to do so by buying most below SMR (with very few exceptions). That includes factoring shipping and handling into the cost for eBay purchases. So far I've managed to get to over 60% with a GPA near 8 and I've arrived there at more than $1500 below SMR for the cards purchased, including many stars. Around 10% of the set was built from raw purchases I submitted for grading while the rest are from purchases of PSA 8's on eBay. The few that are below PSA 8 are from my submissions which didn't make the grade. Also, the few 9's, including the Bunning were from my submissions. I'm fully aware of the looming Gibbon, Cerv, WS cards and others that never sell below SMR but I'm saving them for last. I did pick up a nice Pirates Team card for about 3x SMR which was one of the few exceptions I made to my below SMR purchasing rule. So even if I need to spend big $ for the low pops, I should be far enough below SMR that I'll still be able to finish it off at below SMR. I'm also only selecting cards with good eye appeal, particularly for centering. I think a PSA 8+ set with all well centered cards would go for SMR+ in Mastro. I may end up having to buy a partially graded set and flip the dupes to get some of the tough cards. I've used that approach with success in getting my 1971 set close to completion and filling in some tough low pop cards.

Has anyone else been successful with this approach?

RayBShotz

gemint - This approach has worked for me in the past. It is especially useful if you ever have to turn around and sell your efforts on the set to finance some other card project. Your lesser outlay puts you in a good position to get all your money back out.

I currently spend more time in the pre-war world now, and find the same sort of diligent approach still useful. The upside to paying up for some cards here is that; invariably, the overpayment on any card today becomes the market value of tomorrow and a bargain level price the day after that. Pre-war's escalation factor is a huge component of the value.

So, diligence and patience and trying not to get too over enthusiastic (this parts tough) make execution of your strategy successful.
I've always admired your sets.
RayB

RonBurgundy

Yes. I buy at 70% SMR for most graded cards. I try to find at least 50% of the low pops raw, then submit, which allows me to buy stars and other low pops at or above SMR.

markj111

I just completed the 61 set this week. You can get the high pops, even many of the stars, at well below SMR. I just sold a well centered Maris for $495. I am not really sure why the Cerv is so tough. The population is not that low. It is one of 20 cards I have in 7. The Gibbon and WS Game 1 are the really tough ones. I will probably never spring for the $500 or so it takes to get them in an 8.

ChrisC

I just started a 54 Bowman football set and right now I am paying just about 20% over SMR for PSA 7's, this includes shipping. I am going to get more patient but I wanted to get the set started. This will be a fairly slow build for me. The POP's for 7's are OK so i should not have to pay to much over SMR except for some SP's. I am not going to buy raw from ebay and submit because I dont like my chances. My local card shop only carries modern cards with the exception of some EX 70's cards.

Aaronman

Gemmint,

I have a couple of questions if you don't mind

1.) How long has it taken you to get to 60%
2.) If you take out the cards you graded yourself how close to SMR would you be.

I am working on several football sets by grading the cards myself. My closest set to completion is the 1967 Topps set. I need one more card to make it all 8 or better. Assuming I buy the last card graded that will by my 5th card purchased out of the 132. Three of those five were nines that I upgraded my self graded 8's. In this particular case I would be way below SMR. I am applying the same methodogy to a few baseball sets (1958 & 1966). It works but it takes a long, long time.

Doug

gemint

Thanks for the replies. Some comments:

Ray - Thanks. I enjoyed discussing the 1969 set when you were actively building it.

markj - Congrats on completing the set. I just picked up my Maris for $500, also well centered. I think the Cerv goes for big money because it's relatively tough (though not low pop), it's a '61 Yankee and it's a high number. I can foresee the price coming down on it evenutually since more 8's seem to be appearing.

Doug - Well, I wasn't seriously building it until late last year. I was more opportunistic before that and had built the set to about 10% entirely with my own submissions. Actually I should rephrase, the $1500 below SMR is based on eBay purchases of already graded cards. I'm sure I'm in much better shape if I factor in my own submissions. I only have $25 in the Bunning PSA 9. It will be a bit tougher to calculate those purchases because I don't have good records of what I paid for each of the raw cards.

You are right in that this approach takes a long time. When I get up to 80% to 90%, I'll probably refocus on something else and then continue to look for nice raw cards or bottom feed on eBay until I fill in the remainder. When I get down to the last 5-10 really tough ones, then I'll probably bite the bullet and anty up to get them.