OK, this article is not quite about sport, but almost 🙂
Today, many people are getting into collecting and investing in sports cards as their value continues to rise. Some would rather have a rookie card of their favorite player and hold it for the value to increase than buy fine art. You need to know different specifics when investing in sports cards, such as the risks involved, different sports card buying strategies, types of cards to collect, and card value variables.
Here are some specifics to know when it comes to buying sports cards.
Determine your financial goals with the hobby
Before you start collecting sports cards, decode your financial goals. First, it is crucial to have a budget so that you don’t spend more than you can afford. You can set aside the amount you are willing to spend on sports cards. Also, ask yourself if you are interested in collecting or looking for valuable returns. Then define your strategy. For instance, the financial strategy for someone collecting sports cards to hold them as they increase in value is different from those looking to make money in a few months from the sports cards.
Collecting sports cards
Collecting sports cards started as a hobby, and it still is. Many people like to collect cards of a particular player because they like them and that is great. However, you can make the hobby more interesting by collecting to flip the sports cards or long-term investment.
Long term investing in sports cards
Collecting sports cards for a long-term investment requires more than collecting them for short-term purposes. If you are after the long-term value of sports cards, think about it generationally. That means you are not thinking about a player playing a good game today and tomorrow but generational icons. You need to think more about the players with the best legacies than the short-term implications of one season. Sports cards for generational icons have more value and carry fewer risks.
Flipping sports cards
Fliping sports cards means buying them at a lower value today and selling them for a higher value in the next week, months or year depending on the player’s overall value. If you are interested in flipping sports cards, you must have an in-depth understanding of the sport you want to trade and the risks involved. For instance, Derrick Rose was once the face of the NBA, but today we have the likes of Lebron James and Michael Jordan.
A good tip for flipping sports cards is to assess the player’s cards depending on their current status. Ask yourself questions like: which players could get through an incredible game and surprise everyone? Are there outstanding players not getting the attention they deserve just because they are in a bad team? Can they be traded to a better team and get more recognition? How fast can you move if anything changes? Generally, get educated first before flipping sports cards.
Gambling through sports cards
If you love sports betting, you can gamble by flipping sports cards. For instance, you can bet on a player to win the rookie of the year by buying their card and flipping it after the win.
Take your time to learn the best sports cards to collect.