Podcast Summary
Authenticity is key for content creators in sports cards: Stay true to your passion and beliefs while keeping an eye on market trends for success in sports card flipping
Authenticity is key for content creators in the sports card industry. Gary Vaynerchuk emphasizes the importance of creating content based on beliefs rather than just for the sake of making content. He also shared his personal reasons for attending the National every year, which include finding joy in the hobby and gaining a pulse of the market. Looking back, one of the opportunities that stood out for the audience in the past was the potential in vintage basketball cards. With basketball exploding and young superstars emerging, basketball vintage was seen as underpriced compared to baseball vintage. Additionally, the demographic of parents with children in the right age range added to the potential profitability. Moving forward, sports card flipping remains a viable genre. Opportunities lie in finding undervalued cards and staying informed about market trends. Attending events like the National can provide valuable insights and connections within the hobby. Ultimately, the key to success is staying true to your passion and beliefs while keeping a keen eye on the market.
Recognizing underpriced opportunities in collectibles: Be strategic and informed in the market, consider hype and risk, and focus on collectibles people truly value to succeed in collectible flipping.
Understanding supply and demand is crucial for successful collectible flipping. The speaker shares his experience of recognizing underpriced opportunities in wrestling collectibles and the importance of being strategic and informed in the market. He emphasizes the role of hype and risk in determining potential investments and encourages listeners to consider what collectibles people truly want and value. The speaker also warns against the challenges of speculating on rookie cards and the importance of considering potential risks and oversaturated markets. In essence, being a smart and informed investor is key to success in collectible flipping.
Investing based on emotion vs strategy: Focusing on cultural icons and hall of famers for long-term investment yields greater returns than investing based on personal preference.
Investing with emotion, such as buying rookie cards based on personal preference rather than market potential, can lead to disappointment. However, taking a more strategic and long-term perspective, focusing on hall of famers and cultural icons, can yield greater returns. For instance, LeBron James, who is considered this generation's Michael Jordan, is a prime example of an investment in a cultural icon. The debate over who is better between LeBron and Jordan has consumed countless hours and will continue to do so. Investing in non-fictional characters, like Optimus Prime or Roger Rabbit, can also be a viable option, as they have the potential to remain relevant for decades. Overall, taking a more significant and thoughtful approach to investing can lead to greater success.
Investing in sports cards: Factors to consider and personal interests: Consider market demand and supply, authentic content creation, and personal interests when investing in sports cards.
Investing in sports cards requires a thoughtful and strategic approach. LeBron James, for instance, is not just an exceptional basketball player but also a potential business icon with two promising children. However, the value of his cards depends on market demand and supply. While Shaq's rookie cards may not be valuable due to oversupply, Steph Curry's cards could be a good investment if the market is soft. Content creators in the sports card industry should make authentic content based on their beliefs to build trust with their audience. As for my personal interests, I am deeply involved in VaynerSports and VeeFriends, and these areas will keep me engaged in the trading card world.
Exploring the world of sports collectibles: Balancing investment and sentiment: Find unique angles and underpriced items based on pop count and future demand, balancing personal collection and potential sale for unexpected life events or retirement plans.
The world of sports collectibles, including trading cards, is a passion-driven business for many, with a long-term focus on both personal collections and potential investments. The speaker, who is deeply involved in the sports agency business and collectibles market, emphasizes the importance of finding unique angles and looking for underpriced items based on pop count and future demand. He also shares his perspective on balancing the desire to build a personal collection with the possibility of selling it in the future, whether for unexpected life events or retirement plans. He sees his collection as a mix of investment and sentimental value, with the potential to pass it down to future generations or sell it if needed. The line between collecting and hoarding is not clearly defined, and personal decisions about what to keep and what to sell depend on individual priorities and circumstances.
Collecting vs Flipping: A Flexible Approach: Collectors can enjoy the process by maintaining flexibility, considering the potential value of their items, and enjoying the joy they bring, whether kept or sold.
Collecting and being a hoarder are essentially the same thing, but it's important for collectors to consider the possibility of selling their items in the future. The speaker emphasizes that there's no need to label oneself as strictly a collector or a flipper, as both aspects can coexist. The key is to maintain flexibility and not limit oneself to one identity. It's crucial for collectors to remember that their collections can bring joy and value to themselves and others, whether they're kept or sold. Ultimately, the most important thing is to enjoy the collecting process and not get too attached to labels.
