Mistakes Collectors Make While Purchasing Sports Memorabilia
If you are like me, you discover satisfaction in collecting sports memorabilia and sports cards which few additional hobbies may offer. It is a rewarding and enjoyable pastime for individuals like us, yet it is oftentimes both filled up with uncertainty, and may be home to people searching to make a fast buck off earnest investors and collectors like us. Too many will learn their lesson the hard way, yet I'll assist you in steering clear of these typical mistakes.
1. Using online sites, eBay, ‘book' prices or auction houses to value items: Most new investors and collectors are tempted to leap in head first and bid upon auctions. As a matter of fact, they oftentimes base their probable profits upon auction sale costs. The fact of the matter is that most auctions end up being overpriced... particularly for star autographs and additional memorabilia. Be certain to study each item prior to placing your bid. Know what the going cost is for the target auctions.
Thoroughly read auction descriptions, study all photographs, and pay attention to a seller's eBay feedback from past sales. Is the seller's rating mostly positive? If not, do not waste your effort and time on that said auction – it isn't worth the potential hassle or risk. Rather, look for an additional seller, and if you see that reputable sellers are challenging to come by upon any website, search for a different website that has more reputable sellers.
2. Emotionally purchasing a collection or item: Allowing emotion to creep too far into the process of bidding rapidly can boost prices, and decrease your profits. It is a typical investor's pitfall that you need to avoid. You easily can sidestep the pitfall with a bit of patience. If you practice self-discipline, and always take one step away prior to leaping into any purchase, you will discover more success... and fewer heartaches.
3. Purchasing a fad: An additional mistake I have witnessed most collectors make is purchasing into a fad. You must do your best to assess any product you are bidding upon as a possible fad then steer carefully through the process of bidding if you think that it is. Say to yourself, "Will this ‘trendy product' pass? Should I wait until the demand dies down?"
Does anybody recall Beanie Babies? It's an ideal fad collectible example. Thousands purchased those stuffed animals as if they were extinct. A lot of money traded hands with those even purchasing them as a retirement investment!
Now, fast forward years later... and they're worthless, because of a lethal mixture of loss of interest and overproduction. The costs dipped for all but a few of the little creatures, leaving most people disappointed.
In the future, there'll absolutely be more Beanie Babies-esque trends, yet with some patience you either can remain safely upon the sidelines, or discover yourself upon the winner's side. Merely applying a common investment strategy will do the trick - if everybody is purchasing fad collectibles, you ought to be selling them!
1. Using online sites, eBay, ‘book' prices or auction houses to value items: Most new investors and collectors are tempted to leap in head first and bid upon auctions. As a matter of fact, they oftentimes base their probable profits upon auction sale costs. The fact of the matter is that most auctions end up being overpriced... particularly for star autographs and additional memorabilia. Be certain to study each item prior to placing your bid. Know what the going cost is for the target auctions.Thoroughly read auction descriptions, study all photographs, and pay attention to a seller's eBay feedback from past sales. Is the seller's rating mostly positive? If not, do not waste your effort and time on that said auction – it isn't worth the potential hassle or risk. Rather, look for an additional seller, and if you see that reputable sellers are challenging to come by upon any website, search for a different website that has more reputable sellers.
2. Emotionally purchasing a collection or item: Allowing emotion to creep too far into the process of bidding rapidly can boost prices, and decrease your profits. It is a typical investor's pitfall that you need to avoid. You easily can sidestep the pitfall with a bit of patience. If you practice self-discipline, and always take one step away prior to leaping into any purchase, you will discover more success... and fewer heartaches.
3. Purchasing a fad: An additional mistake I have witnessed most collectors make is purchasing into a fad. You must do your best to assess any product you are bidding upon as a possible fad then steer carefully through the process of bidding if you think that it is. Say to yourself, "Will this ‘trendy product' pass? Should I wait until the demand dies down?"
Does anybody recall Beanie Babies? It's an ideal fad collectible example. Thousands purchased those stuffed animals as if they were extinct. A lot of money traded hands with those even purchasing them as a retirement investment!
Now, fast forward years later... and they're worthless, because of a lethal mixture of loss of interest and overproduction. The costs dipped for all but a few of the little creatures, leaving most people disappointed.
In the future, there'll absolutely be more Beanie Babies-esque trends, yet with some patience you either can remain safely upon the sidelines, or discover yourself upon the winner's side. Merely applying a common investment strategy will do the trick - if everybody is purchasing fad collectibles, you ought to be selling them!
