Is it considered a trade....

Jakt

I am in the process of building a few raw sets. Ideally I would like to not have to spend any money and accomplish this through trades.

My question is this: If I sell part of my collection and then use those proceeds to buy pieces of the sets that I am building, did I break the "rule" of not spending money? It is sorta like a trade, only there was a step in between.

Ironmanfan

what difference does it make?

IMF

Jakt

That is exactly my question. DOES it make a difference? If I were to use money from my job as opposed to selling part of my collection, THAT would make a difference.

My goal is to consolidate as much of my collection as possible and bring it down to only stuff that I would consider my "core collection" without the "other stuff" that we all have.

The thread that asked about goals for the new year got me thinking about this. I would've discussed this in that thread, but didn't want to hijack it.

Ideally, I do not want to invest any new money into what I have, but if I transfer stuff into money and then use that money to focus on my sets, then everything is okay. My fear/problem is that I will use said money for other things besides cards. I guess it comes down to discipline. Okay, that is going to be my goal for my future projects.

I needed that rant to work this out. Who knew that discipline would be so difficult?

llafoe

You're trading cards for money and the money you traded for cards for new cards... sounds like semantics to me!

Dboneesq

I understand what you are saying. To answer your question ... I say YES it's a trade.

Unfortunately I am still in a position that I do not have extra money to buy cards. So what I do is sell some of the items I have that do not mean as much to me anymore and use some of that money to purchase items that I do enjoy.That way, IMO, I am not putting any "new" money into my collection. Kind of like trading ... no?

thunderpower

The IRS and other taxing agencies would consider it a sale I am sure.

Jakt

<< <i>Unfortunately I am still in a position that I do not have extra money to buy cards. So what I do is sell some of the items I have that do not mean as much to me anymore and use some of that money to purchase items that I do enjoy.That way, IMO, I am not putting any "new" money into my collection. Kind of like trading ... no? >>



That is exactly my point/dilemma.


What about this monkey wrench: As a side thing, I do consignment selling (kinda like Probstein, but with MUCH MUCH less of a following). If I use the commissions from those sales, is that buying or trading?

frankhardy

<< <i>

<< <i>Unfortunately I am still in a position that I do not have extra money to buy cards. So what I do is sell some of the items I have that do not mean as much to me anymore and use some of that money to purchase items that I do enjoy.That way, IMO, I am not putting any "new" money into my collection. Kind of like trading ... no? >>



That is exactly my point/dilemma.


What about this monkey wrench: As a side thing, I do consignment selling (kinda like Probstein, but with MUCH MUCH less of a following). If I use the commissions from those sales, is that buying or trading? >>



In my ever so humble opinion, that is buying. The commissions is income, therefore would normally be applied to a household budget.

Dboneesq

<< <i>What about this monkey wrench: As a side thing, I do consignment selling (kinda like Probstein, but with MUCH MUCH less of a following). If I use the commissions from those sales, is that buying or trading? >>



In my ever so humble opinion, that is buying. The commissions is income, therefore would normally be applied to a household budget. >>


I agree ... this is not money from the sale of part of your collection. No different, IMO, than if you used money from your primary job to purchase new items for your collection.

dennis07

You could add another twist. Take on another job with the sole intent of using money earned minus taxes, expenses, etc. for nothing but your
collection. This could be considered trading time out of your life for adding to your collection.

Josh22

i think selling spare parts to fund what you really want can absolutely be considered trading. bartering if you will. im no accountant or businessman, but if i remember correctly there is a provision that if you take your old 401k, and roll it into an ira within 60 days, there are no tax repercussions, maybe think of it like that.

now, as ive said in previous threads im just getting back into this, and havent completed a trade over the internet since the old sports cards chat room on AOL, but i imagine one still has to pay for shipping and insurance. if you are wrapped up in where the money is coming from, and actually having to pay that money, does anyone consider this expenditure?

Jakt

I figured that the consignment sales would not fall into the trade category. My rationalization was that it was ebay related and therefore could be grandfathered into the trade clause.



<< <i>You could add another twist. Take on another job with the sole intent of using money earned minus taxes, expenses, etc. for nothing but your collection. This could be considered trading time out of your life for adding to your collection. >>



This would be my consignment business. It's not nearly enough to pay my real bills, but can finance some decent cardboard.

KbKards

Congratulations! You've passed all the qualifications to run a consignment business. Where do we send our cards? How do your fees compare to Probstein and PWCC? In lieu of fees would you accept trade. It's just like money, only not money.

billwaltonsbeard

put me down for a preemptive safety bid

handyman

I dont know. Did you buy the cards in the first place with money found, or was this money earned from your job?
Seems like a really tough question.
JK
If this is what you are worried about in life I think you are doing a ok.

Jakt

<< <i>Congratulations! You've passed all the qualifications to run a consignment business. Where do we send our cards? How do your fees compare to Probstein and PWCC? In lieu of fees would you accept trade. It's just like money, only not money. >>



Not sure if this is a sarcastic joke or a legitimate attack. For the record, I was and am not trying to "advertise" a consignment business, but was putting an idea out there that I sometimes ponder.

WalterSobchak

<< <i>If this is what you are worried about in life I think you are doing a ok. >>


+1

Jakt

<< <i>I dont know. Did you buy the cards in the first place with money found, or was this money earned from your job? Seems like a really tough question. >>



Until you pointed this out I had never thought of that.





<< <i>If this is what you are worried about in life I think you are doing a ok. >>



This one I cannot argue. I've been pretty lucky recently not to have anything too heavy weigh on my mind.

CDsNuts

My question is this: If I sell part of my collection and then use those proceeds to buy pieces of the sets that I am building, did I break the "rule" of not spending money?


So you want us to answer a question regarding the technicalities of breaking or not breaking a rule you invented for yourself?

CDsNuts

<< If this is what you are worried about in life I think you are doing a ok. >>


Actually, I would think the exact opposite.

itzagoner

<< <i>Who knew that discipline would be so difficult? >>



pretty sure it was the Almighty and a serpent.

WalterSobchak

<< <i><< If this is what you are worried about in life I think you are doing a ok. >>


Actually, I would think the exact opposite. >>

Jakt

<< <i><< << If this is what you are worried about in life I think you are doing a ok. >> Actually, I would think the exact opposite. >> >>



In hindsight I think I this thread makes me look slightly neurotic. I'm really not crazy.

mcadams

15 minutes of my life I'll never get back.

JHS5120

<< <i>15 minutes of my life I'll never get back. >>



It took you 15 minutes to read this?

mcadams

<< <i>

<< <i>15 minutes of my life I'll never get back. >>



It took you 15 minutes to read this?

>>



31 minutes gone! i forgot how bad the thread was and re-read it from the beginning again.

RipublicaninMass

<< <i>

<< <i><< << If this is what you are worried about in life I think you are doing a ok. >> Actually, I would think the exact opposite. >> >>



In hindsight I think I this thread makes me look slightly neurotic. I'm really not crazy. >>



The crazy ones never think so, it's when you doubt your saneness

digicat

Can someone really collect sports cards like we do and not be "neurotic" in some way?

I think the wrestling card collectors are a little more so than others, but still.

scashaggy

I think if you 'buy' new cards with any money other than with the money you made selling your old cards, you are buying.

If you trade in your old 1994 car to get an 2013 vehicle, was that a trade? No, because you traded in to reduce the value of the total purchase. You are still out-of-pocket for the amount above the trade-in value.

Example (the way I see it):

You sell old card(s) for $100

You buy new card(s) for $125

You bought $25 worth of cards and traded $100 worth of cards.

Dboneesq

<< <i>Example (the way I see it):
You sell old card(s) for $100
You buy new card(s) for $125
You bought $25 worth of cards and traded $100 worth of cards. >>