Sports cards collection is a hobby that’s gained momentum, and you could be headed there too. It’s a great investment that could turn into a fortune if carefully thought of. The sports card collection is a fluid market, and right now, it’s hot. But there’s a misconception that card collecting is another “get rich quick” scheme or it’s as easy as ABC. If that’s what you think, then you’re in a for a rude shock. It’s not a business you get into and buy whatever you see on the Tweets from reliable sources.
Firstly, sports card collection was meant to be a hobby and not a business, and therefore your aim of getting to this business should be for fun and not to make money.
Consider the following before you go spending on a sports card
Flipping cards to make money is not easy
If you see the wave in the market, you’d think that the card collecting hobby is another money minting business. But the truth is, it’s not easy to turn a buck here. You will certainly make money if you’re consistent, but that will take lots of time, research, and the knowledge and skill to overcome the challenges. The market is pretty volatile, and today it could be lucrative, but that could change in a month to a worse scenario.
There are fees to pay
Fees charged per transaction when buying and selling sports cards can be high. If you buy the card online, you’ve to pay tax and shipping. When selling, you also pay for the transaction fees and the credit card processing fees when buying and selling through card shows through social platforms like Facebook and Discord Chat. When purchasing cards through PayPal, use goods and services to get buyer protection.
Take note of the shipping costs.
Before you buy the card, check out the shipping prices, so you make an informed decision. When you buy cards online, say through sites like eBay, you could easily focus on the card price and overlook the shipping cost, and crooked sellers know how to play with this and charge you high fees for shipping. If you’re not careful, they’ll eat into the profit you make when reselling them.
Confirm the price history of the card
This is a fundamental rule on the list, and most sports card investors mess with it. Never buy a card unless you’ve checked its price on platforms like eBay. Even when purchasing at card shows, it’s prudent that you step back and confirm before you commit yourself.
Negotiate
This is a hobby, and everyone expects negotiations. If you have an opportunity to make an offer, why hit the buy button blindly? Most of the sellers list their cards on eBay at more than 200% of the market price. That means there’s room for negotiation. Buying the card for less than the offer amount is saving, and if you’ve several to buy, you’ve enough saved for a new card.
As you think of investing in a sports card, consider the history of the card in terms of price and, most importantly, its demand in the market.
