Baseball card addiction

[DaddyDom]

I would say this is as bad as any drug or gambling addiction in some ways. I've been struggling with it for years and am still trying to get out of the debt it put me in. At one point I opened up two new credit cards and maxed them, took out a bank loan, etc..

 

1) High PSA graded vintage HOF'ers are extremely expensive. So you're spending a fortune. I mean we're talking five figures per card in some cases.

 

2) You're in a social circle with enablers and opportunists. It's tough because you love having that common bond and camaraderie. But often people either encourage you to buy so they can live vicariously, or they know who you collect and shove it in your face with what they're selling. Even when they know you have a problem.

 

3) There is always some new card to chase, deal to get, or rare card that doesn't come around that often. It is like you're constantly treading water.

 

4) It's tied in deep to your childhood nostalgia.

 

Now the one bright side is in 20-30 years when I do sell my collection, I will be set for life retirement wise. But in the short term it puts you into major debt and turns your life upside down. I've gotten much better finally being able to say "no" to cards, staying off EBay regularly, accepting that you can't have it all, etc.. But day to day, I still get the itch to build my collection.

[preraph]

That's the thing. You have to get used to the idea of selling some as you go along. I mean, if you already have one and find a deal on the same thing, buy the extra and sell one of them. Keep the money turning over. And do give serious thought to just keeping your sentimental favorites and cashing in on the rest.

[MetallicHue]

I’m not sure if you’re saying in 20-30 years by that time cards will be so valuable or they’re that valuable now. But regardless you cannot predict how much something will be - look at house prices for example. I would just sell it all off now and move on. I would invest in something else. But that’s just me.

 

I can definitely relate to addiction as I blew through half my college fund on gambling. That was a huge mistake. But that was not an addiction that had any benefits. I would say give up on it but be careful because addictive behaviors can translate to other aspects of life.

[preraph]

You have to sell memorabilia when it's hot. Only the classics hold value forever, but lots of them would have value if you sell at the right time, I would imagine.

[major_merrick]

You can get addicted to anything. I would say that most people have some kind of addiction. The trick is to get an addiction that is at least somewhat healthy and won't break the bank. And one that you can keep sort of in moderation. Drugs, alcohol, gambling...not so good. Baseball cards - unless you are losing tons of money or spending all your time on it to the exclusion of relationships, I suspect it is pretty benign. Only you (or your therapist) can judge that.

 

I would say I have an addiction to purchasing antique firearms and driving classic cars. Much, much better than the drugs and drinking I used to do. At least what I buy holds value, and doesn't alter my mind or body. Just make sure you buy low and sell high, and get out and meet people. Find ways to moderate the habit, and make it profitable.

[Happy Lemming]

Personally, I would calculate the interest on the credit cards and bank loans and compare that against the increase value of the baseball cards.

 

Interest is a very powerful force...

 

Perhaps after you see the end result of the calculation, you may be able to take away the "investment" aspect of the equation, as the interest cost will wipe out the potential gain.

 

If your calculation shows you are wasting money, then sell the collection and pay off the debt.

 

Would you borrow money at 15% interest on a personal loan or a credit card at 19% to make 5% - 8% in an IRA account, of course not.

 

So unless the increase value of the baseball cards far exceeds the amount of interest you are paying on the loans, you are at a net loss on this memorabilia.

 

Look... I understand wanting items. Keep a few and only pay for new ones with disposable cash. Make a budget and stick to it.

 

Just my two cents.

[Mr. Lucky]

I would say this is as bad as any drug or gambling addiction in some ways. I've been struggling with it for years and am still trying to get out of the debt it put me in. At one point I opened up two new credit cards and maxed them, took out a bank loan, etc..

 

Your issue has nothing to do with baseball, cards or collecting.

 

Have you spoken to someone about this?

 

Mr. Lucky