It’s so fulfilling to build a personal sports card collection that showcases your love for the hobby. However, it can be much more than a hobby as buying sports cards can turn into a high-return investment.
But, just like any investment, there may also be some risks. You can minimize that risk using a few basic but crucial tips.
1. Go For the Legends
One of the essential factors while collecting or investing in sports cards is the star player you decide to buy. You need to purchase legends, and there’s a simple reason: They have established an everlasting reputation and place in history.
Legends cannot lose a championship, their fitness levels, or their position in history. Therefore, legends will always be in demand. On the other hand, speculative players often make the news and constantly affect their pricing.
2. Don’t Follow the Masses
It’s usually not a good idea to buy into the hype. Too often, when a player experiences a good stint, people rush to buy his rookie card at any cost. That’s a terrible investment strategy because those good runs usually don’t last enough for the rookie card to have any significant value.
You should never purchase a player’s card when they are on a roll, such as during a playoff run. You want to buy when the player’s doing well but not really hot in the market. This should prevent a value drop once the hype has faded.
3. Patience is Key
Some people buy sports cards with a “buy-and-flip” approach. In other words, they buy a card and expect to take advantage of short-term price movements. While this technique may occasionally work in some markets, it carries enormous risk in the sports cards industry.
The biggest risk of this approach is getting stuck with many bad cards during market peaks and losing a lot of value in a short period. This strategy may force you to sell speculative cards at a significant loss or keep them far longer than you originally wanted.
Bottom Line
Using all three of these strategies can drastically lower your investment risk. Of course, you can occasionally break these rules, particularly if a super rare card is available or a speculative player is close to making it as a legend.
By following these rules, you can get your hands on some cards that should offer high returns, giving you more resources to expand your collection. Once you have some hot cards, you need a reliable platform to sell them at a great price, and we at American Legends can help you. Our team is available and ready to help.
