One of My Dealing Mistakes and The Lesson to Be Learned From It
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- Опубліковано 3 січ 2021
- Link to The Personal Finance Dad: / @thesportscarddad
The story of one of my big mistakes as a dealer. Missed out on some very nice profits on 2009 Topps Steph Curry Rookie cards. Also discuss the lesson I learned from this and how I use that lesson in my overall strategy today.
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t206 Wagner, 1952 topps mickey mantle, 1933 goudey, 1989 upper deck, 1986 fleer jordan, 2003 exquisite, 2003 topps chrome refractor, National Treasures, 2012 panini prizm, PSA, Beckett, BGS, SGC, GEM MINT 10, Goldin auction, Heritage auction, Pwcc, probstein123, COMC, starstock, bowman chrome xfractor, Rookie card, RPA
I would love to see a video of your long term investment box
Yes me too
If he was smart he would be selling now
@@gordhonkey2874 yup
Another great lesson ! Thanks Chris :)
Thanks for the shout out Chris, you’re the man! And yes it’s mind boggling looking at what prices used to look like previously for some of these star players rookie cards
Thanks again, Dustin!
We all make mistakes my digital friend but we also learn from them as well but in the end we will always prosper. Good stuff as always.
Yeah mistakes are a part of the journey, important to learn from them
i should have bought bitcoin in 2009 instead of steph curry
Haha thats actually true :)
now you've got another chance to get in early, "NBA top shot" 🤫.
I shouldn’t have spent all of my bitcoin in 2009 on drugs from Silk Road 😜
I can only assume you have a good buy average in on bitcoin. I called them "Shitcoins" from 2009 to 2015 and then seen in 2016 it did magnificent in retracement mode stating upside was coming so I'm happy the last time I bought bitcoin for fiat currency was $900 Bitcoin in 2017. Don't need to anymore as it's been a fun ride for me last year 4 years plus years.
But it's up 35% or so from January so I can only assume you got in by them. I like other coins like Theta better :)
Should bought some 1st edition Pokémon booster boxes. Lol.
this is why this guy's channel is epic .. he's honest, he tells it as it is .. mistakes and all. and great info that helps people like me who just dabbles in sports cards.
Your honesty is refreshing on UA-cam
A wise man once said "Don't look back if you made a profit"
said a wise and poor man
@@25xcards41 the poorest are always the wisest
@@Collin.Hughes not always lol plenty of very wise wealthy people.. I see what ur saying tho
Really well thought out and it makes sense with the smaller value purchases. Assuming of course these trends continue.
Still waiting on that time machine...
The time machine companies are backed up like the grading companies, I put in my order a while ago.
Brilliant analysis. Makes total sense because this is something i’ve thought a lot about and have come to the exact same conclusion. I always sell my lesser cards one at a time and then decide what to keep when i get to the best that are left.
Great analogy, it's always tough knowing when to buy and sell, and thinking you know who the next big star is going to be. Who would of thought that prices for cards would be astronomical, we are all just thankful that there are always buyers for the cards we have when we want to sell them. Looking back we all have had cards we wish we would have held onto.
I like that attitude, and yes, the astronomical prices, who could have seen that coming!
This video!!!! Great job as always and awesome insight on investing. I will definitely be adding this strategy moving forward.
Love your content.
I love how calm you are man, I bought a Kobe 1996 Topps Chrome PSA 10 for 100 Jan 2020. Before Covid sold it for $500 in March 2020. I'm still broken up about it, but listening to you actually made me feel better:)
Appreciate that. No way to have foreseen the Kobe price explosion so really nothing to feel bad about there.
I love hearing your stories on past card deals. Youre really good at telling us what went down. It's cool to look bad and see how much they went for back then
Appreciate that. These stories have been really fun to tell and relive
This makes so much sense. Love the channel
What I liked about this story is that it can be assessed for any player, sport, or country cards are sold in.
Diversify into several small but promising cards and research trends over time is the lesson.
Appreciate this video, bro. Shows your humbleness. I’ve made mistakes like this in this hobby everyday and still learning. Channels like yours have definitely provided a lot of valuable wisdom. Just remember the most successful people have had multiple failures in life. It’s the hustle that keeps us going 🤙🏽
Definitely. No way to avoid mistakes and failures. But have to be able to learn from them
@@collectorinvestordealer The year 2020 has taught us 😳
It's easy to look back at big mistakes with hindsight but this is a valuable lesson you've shared for everyone when dealing in a fluctuating market
There was no way for you to know this was going to happen and you actually did very well on selling those cards. It's really crappy to look back and see what could have been but don't forget you still won. That's not an L.
Exactly. I sold my 2011 Update Trout cognac when it hit 200. And don’t even get me started on all the Brady rookies I sold pre 2018.
There are a lot of people who got back into cards in 2020 who *need to watch this. This is just great sound investment advice across multiple assets. New fan to the channel!
Thank you for taking us through your deal, as you did. You did what probably most would have done, made something, and changed your strategy to what I assume has been an even more positive one for you. Great stuff all around
Appreciate that. Yeah I think its important to learn from mistakes and be flexible to adjusting your strategy as you go.
great stuff..i have sold quite a few too early this past year and this year already..awesome advice..ty ,,much apprciated..
Props to you. It's not easy to talk about moments you messed up.
Thanks for sharing. You're awesome.
Also just wanted to say I love your honesty. This happens with all investments. I sold my bitcoin a week ago. I will be dreaming of that for years. Being honest to yourself is the key to learning from mistakes.
Totally agree, mistake are unavoidable, super important to learn from them
Maybe not so bad now! If you make a profit, don’t regret what could be! Always another day and another deal.
Great information. I haven't started to sell any of my cards from my PC. But that time is coming because we can't take this stuff with us. And this is a good lesson. Thank you for sharing.
Thanks for all the great videos!
Love your videos honest and not cocky
very good advice for many people...thanks for sharing and making things clear with the use of your graphs
Great story / case study! PREACH!!
This is how I was approaching buying cards back in 2019 and 2020. Buy 3-4 of the same card, keep one long term and send some for grading. Now, I’m not grading and just holding the cards, because I used discretionary money to buy them. I will wait to see if these players pan out. Thanks for sharing.
Had the chance to buy multiple 2001 Upper Deck Tiger Woods PSA 8s a few months ago at $50 a piece... They are selling for $150-200 a piece now. Had no idea this documentary was a thing!
I have so many unforseen price explosions this year! Tiger is a recent one
Kudos on the numbers, I know that took a while to do and I appreciate hearing your strategy. Very thorough. Thank you
Thanks for that. It did take a while but it was fun
I like that concept, it may not have the quick turnaround, but you're not kicking yourself for missing out.
This is great advice across all investment classes, including when it comes time to sell equities in retirement. It's basically dollar cost averaging for selling. It hedges your bets and allows you to stay in the market if it goes up, while taking profits if it goes down.
This strategy is golden thanks!
Amazing wisdom thank you🙏
The prices for his Topps chrome rookie cards are even more ridiculous. So, don't feel so bad partner.
Very true on that!
Hey Chris, HNY - This is a great lesson learned thanks for sharing. I used this method a few times when buying up Hanger Boxes of Prizm Basketball & Football 2019 2020 (10 boxes each) - I sold a few then waited to see where the prices were going. Then relisted a few more, I made my money back on the initial purchase and saved the rest of the boxes which I still have (unopened) waiting to see how the hobby reacts to them? Always a pleasure to tune in and see what you have to offer - thanks for sharing. Stay safe - Cheers buddy.
Ah very cool! I didnt consider the strategy for wax, but yeah that would certainly work for that as well. You stay safe as well!
This was a really helpful video. Thanks so much for sharing. Remember Curry had ankle issues early in his career which gave reason to many to not to invest in his cards long-term.
True on the ankle thing, good point
Pokemon collector here. I love your calm and logical approach. I am enjoying learning from you!
Happy to hear that, appreciate it
Hind sight is always 2020 man, lesson learned in the hobby. WE've all been here!
Love watching your videos So great to hear your past stories thank you.⚾️🏈🏀👍
very interesting! Thanks for the video
Good video. Love the honesty. I definitely would have kept at least 1 or 2 of them.
Appreciate that. Yeah I definitely wish I had held on to a couple
TY 4 another great video. I learn something from every video you post.
Very easy to understand and great lesson
My new favorite channel, Chris, keep up the great work!
Thank you and welcome to the channel!
Great content and story as always !
Thanks for sharing, Chris
What a GREAT channel for collectors! So glad I found you 😎 I just brought home a box of 2020 Topps Chrome Black. Paid $145. Ouch. I looked at the same box last week and easily passed. This week I was just happy it was still there because it was about all I could afford 😥 The market is out of control and due for a crash, IMO.
Yeah a crash could certainly be coming. Hoping that it doesnt!
Id love to see a video of your top 10 cards you regret selling and what they would be worth today!!! Great vids thx for sharing
I can relate to this so much. I eneded up getting the Chiefs in a case break of 2017 Prizm for $10. Ended up with 8 base Mahomes RCs, an Orange /275 and an auto /99. Ended up selling all before he even played a game for around $400. Wishing I would have sat on a some a little longer.
Yeah thats tough. I definitely did not see him becoming this big a superstar. Appreciate you sharing.
Wow that was a great outcome of the break. Sorry to hear you sold them all
That’s unreal. A nice chunk there but you just never know!
Replace card with the word stocks and that's exactly how you should do it, great lesson
Another excellent video for card hobbyists. Thanks Chris! Keep up the great work
Appreciate that!
I wish I would have had that piece of wisdom around 2000 before the dot-com bubble exploded. Having had sold chunks of the rising stocks (rather than hoping for them to continue to rise to the moon and beyond) certainly would have been a decent strategy back then. A very valuable (and true) contribution, Chris.
This was insanely helpful. Thank you
Thoroughly enjoyed the video. As a collector, I'm often torn on when to sell a particular card but for now I'm holding most cards for long term. I wish I'd have bought into basketball a few years ago also but I missed the window on most of those cards. I did recently pick up a Curry Upper Deck at a good price because Topps is out of my price range. Thank you for your sharing of your experience and I'm sure this video will help others.
Appreciate that, glad you enjoyed!
Thanks for the videos Chris, they are really helpful. Learning a lot from them as I get back into the hobby!
Glad to hear that!
I did the same thing with Mahomes. I sold two of his Optic Rated Rookies Silver Holos for 75 a piece... months go by and they shoot up. There's one raw right now bid up over 700 on ebay. You live and learn. Great video
Live and learn, exactly
Excellent video, great learning curve story, thanks for sharing.
What a story and lesson indeed! The way I look at it is the percentage profit you made off of your investment. No one knew this boom in the market was coming. Like you said at that time in 2015, a 3X increase in value over night would be crazy for any kind of card
Yeah that essentially never happened, whereas in 2020 in happens all the time
Thanks, Chris. I really needed this video as this is a mistake I have made several times in the past.
Same here, I have lots of these type stories :)
Great advice. I love the visuals you do. You do a great and interesting job. Thanks
Thank you for saying that
I have been collecting over 40 years and just started grading. I'll send in at least 2 of each card and sell one to cover my grading costs and keep one for my PC
That is a awesome strategy! Great job as per usual!
Great video and great advice. Thanks for this, Chris.
We call that “dollar cost averaging out of a holding” in stock market investing; I learned that the smart money does that early in my career as a financial advisor. They don’t wait for a hopeful top or do the all at once strategy that amateur stock traders do. Good for you for discovering that! I only do that with my favorite cards that I think will be stars and superstars. Others, yeah I’ll just blow out of them :-)
Ah interesting, thanks for that info. I wasnt aware that was a standard strategy in the stock market but it of course makes a lot of sense.
I prefer to look back at the Rookies I sold for a profit only to see them bomb. That way I avoid the temptation to open my veins...
Haha good strategy :)
Haha don't open your veins for any reason bro .
@@tonymoretti2347 facts
Wtf?
Thank you for the info
I love your honesty . I see people throwing Thier hits in people's faces . You are very humble & are very intelligent when it comes 2 the Hobby 👍👍👍
There you go, having 10 gave you options...
Glad you said it, pleasantly surprised.
It is what the guy who had the Gamestop Stocks did, he hedged the bet
Thanks for the lesson. This was very helpful for me.
I'm glad I've held my Steph Curry
GREAT advice. I recently used this strategy by purchasing a bunch of Tiger Woods PSA 8 rookies for less than $50. ea. They more then doubled in value BEFORE they even arrived in the mail. Hold a few, sell a few. That is the plan.
Ah very nice! Only in 2020 could a card double in value before they arrived in the mail :)
I did the opposite. Dale Murphy is my favorite player to collect and I bought his Topps RC for $73 when he was hot in the hobby. His card is worth $10 - $15 today.
Ah yeah I have a bunch of these stories as well. (Dale Murphy is undervalued in my opinion)
Can't tell you how much I appreciate this video RIGHT NOW. I got back into the hobby about 18 months ago when I bought an entire car load at a garage sale for $50. Mostly junk wax era, but lots of decent stuff, including sealed hobby boxes which I've long since sold, and was ahead of the 2020 surge in the hobby. I've recouped my $50 investment many times over. My approach has been to buy for the fun of the chase. Rip and sell... I'd been wanting to get a Herbert Silver Prizm, bought into ONE break, and got the card I was coveting. It arrived in the mail today. Before it arrived, I'd been anticipating sending it in to PSA, but now seeing it in hand, it has one notable surface defect. I think the best I could hope for is an 8 from PSA. Herbert's stock is high, and I think it will continue to increase, especially if he wins ROY.
I only have the one Herbert silver Prizm, and I'm only into it for about $140.
Thoughts on how you'd proceed?
Very cool to hear that you've come back to the hobby!
I can't predict what will happen with Herbert short term... he could explode further, or people could lose interest when the season ends and it drops, or anything in between. For a long-term hold, I would generally recommend cards that are high grade.
Great lesson, Chris!
Great info and seems like it taught you a valuable lesson/guided you into a more effective strategy for many years to come!
Appreciate it. Im a big believer of its fine to make mistakes (and even good) if you learn from them.
You did great on that show!!
Thanks!
You are indirectly hitting on a few eco / finance concepts. The same applies when buying (dollar cost averaging). You also might be interested to learn about behavioral finance. It looks at some of the irrational behaviour people tend to have. For example holding on to losers too long and selling winners too fast. In a way what you are proposing is a way to slow yourself down to reduce these impacts.
Oh very interesting, I have minimal experience in financing (took finance classes in college but that was long ago) but would love to learn more. Any intro-videos to point me at?
@@collectorinvestordealer When I was studying this stuff UA-cam wasn't around yet. I'm sure there are some great videos but I didn't have too much luck with a quick search. This one might be a good start as it explains some of the concepts ua-cam.com/video/wEwGBIr_RIw/v-deo.html&ab_channel=PracticalPsychology. And this one might relate to the current card market as it focuses on some concepts around bubbles ua-cam.com/video/ERDEozGpV74/v-deo.html&ab_channel=BerkeleyHaasAlumniNetwork.
I think both are worth watching but I wouldn't call either definitive. If they interest you though and you want to dive deeper, I'd be happy to do a bit more digging to find more.
Ah thank you for that. Really appreciate the links, will check them out.
Very smart advice, thanks.
Great story that I overall agree with. The way cards are now I could see owning a bunch of RC's of mid-level prospects that I would want to sell through quicker. Now a days, all it takes is 1 great play or a solid game or 2 for a card to go crazy. With platforms like cardstock, you could do those staggered sales over the course of 1 game instead of over a couple weeks or months. The more faith I have in the player, the longer I'd be willing to be staggering prices.
Haha that is so true... you could do staggered sales over the course of one game!
Haha, these vids are killing it! I love it. Going all in on Bichette, Alvarez and Soto this year.
I like it. I have some invested in Soto as well. Fingers crossed!
🤞🏼🤞🏼🤞🏼for sure.😁 oh yea, I say alvarez too because I was lucky enough to nab a bunch of his stuff on the cheap right after he got hurt.
Thank you for the lesson!
Thanks for sharing this. Good stuff.
Great job.
Hope you are having a lovely day as well! Thanks for the 📹 video! 😃
Back in 2009 i was collecting Griffin jennings rubio didnt knew about curry so i left my oppened topps cards in my moms garage for More than five years one day i threw the packs AND one year later i found out about curry went back AND found just 2 curry rc AND every other star at least 9 so i almost cried.
Thank you!
Before watching the video, I correctly predicted the topic. Great video!
Always great episodes!
Very good advice and strategy Chris. I like your podcasts where you relate some of your career experiences. Very interesting.
I appreciate that. I finding these types of videos very fun to make
Thank you on a great information. The hobby is an up and down chance. Great video sir.
Have a great day sir.
A great day to you as well!
Great content!
After an insightful video like that I think I have to subscribe. When it became pretty clear that Lebron was going to win it all last year and make history with Finals MVP on a 3rd team, I employed a similar strategy. Instead of buying 1 or 2 cards for around $1,000 total, I decided to buy Around 500 cards in the $1-$5 range. Buying singles on COMC and lots on Ebay I was able to score some really nice deals. Many cards that were only a dollar or two raw are selling for around $50-$100 in BGS 9.5 . They take forever to come back at the Economy\Standard levels, but at only $10 to grade a card it's almost impossible to lose.
Thanks Chris
Dudes super smart. Appreciate the knowledge
I did this with Mahomes in May 2020. I had 3 Rated Rookies (donruss), 3 inserts (Elite Series, Optic (illusions insert), and a donruss rookie of the year contender).
I knew the price of the raw rated rookies had reached $60 in early March 2020, and was surprised to see it hit over $100 at the end of April 2020. Went ahead and listed the 3 Rated Rookies raw for $159.99 in May 2020 they all sold within a week. (Those are selling for $175-$190 now) Happy with my sale. However I decided to hold my inserts, thinking sometime during the season they would be worth more because eyes would be on football. That worked, I sold them the Saturday before the super bowl.
Elite Series - May 2020 - approx. $180-$200 - Feb. 2021 sold $511
Optic (Illusions) - May 2020 - $150-$175 - Feb. 2021 sold $212
Rookie of the Year Contender - May 2020 $90 - Feb. 2021 sold $148
Hedging is a great way to cover potential losses and ensure median gains.
(I opened these 6 cards in 2017 out of clearance packs at Walmart, how the times have changed)
Nice! Appreciate you sharing that, good info to learn from.
I really like your videos. One of the best !!
Thank you!
I like the videos when u talk about deals you have made those are mad lit💯