If you have passion and risk management skills, investing in sports cards can be a great way to enjoy your hobby and make money. But, like all investments, you need to learn about the trade. Here are some tips for successful investing in sports cards.
1. Flip Cards
Flipping sports cards involves buying a card and then reselling it quickly, usually within a few months, at a higher price. This strategy can be very effective, especially if you discover a player soon gaining popularity.
2. Invest Long-term
Instead of trading sports cards quickly, you can buy and keep them for a year or more. The extended holding period is the main difference between the first and second approaches.
The most significant advantage of this strategy is that it encourages you to think long-term. With this approach, you ask yourself, “Will this player still be important in a few years?” If so, that’s an excellent card to keep.
3. Determine Your Budget
You only need $20 to start investing in sports cards because even the most prominent stars have affordable sports cards on the market. Of course, the flip side is that you can invest as much as you want in your sports card collection.
While it’s tempting to go big, you must realize that, just like any investment, sports cards involve a degree of risk. So, it’s best only to spend what you can afford to lose.
4. Decide on a Card
Typically, the ideal kind of card to buy is a rookie card. Rookie cards are commonly traded among sports card collectors and attract the best prices in the market. There is no such thing as a “best” rookie card to buy. It all comes down to personal style and budget. In-demand and affordable rookie cards are usually the best starting point for investing in sports cards.
5. Discover Your Card’s Value
One of the easiest and most effective ways to discover your card’s value is by checking its transaction price on significant websites like eBay. You can enter the exact name of your card there and see the historical price levels. Be sure to look at “sold listings,” as people can ask whatever they deem the card to be worth, and the sold listings will give you a real-time card value.
Bottom Line
It’s great to make some extra money doing something you enjoy. But to get consistent results, you need to treat it as an investment opportunity, do research, and know where to sell your valuable items.
At American Legends, we can give you all the information you need to maintain your collection, find the right cards, evaluate cards, and also help you sell your collection. Just get in touch with us, and let’s get started.
