Sports card collecting can be an exciting and rewarding experience. Many valuable and ancient sports cards are available that are worth every penny. However, when it comes to an auction, it’s easy to make certain mistakes that will lead you to disappointment over financial loss.
Sports auctions don’t have to be difficult if you have certain skills and know how to manage them accordingly. It will not only help you win an auction but also allow you to acquire rare and valuable cards. In this article, we will share some common mistakes made by sports card collectors during auctions and teach you to avoid doing the same. So let’s dive in.
Table of Contents
7 Common Mistakes Sports Card Collectors Make During Auctions
Failing to Research the Price of Cards Before Bidding
Research is the first and foremost part of any process. Auctions are critical when you need to make an informed decision about your items. And for this, you need to know your targeted sports card’s worth and what other people are willing to pay for it. Make sure to check the recent auction history of the card; it will give you an idea of its value so that you can be assured of your decisions. This will give you an idea so you don’t overspend on a collectible.
Not Determining the Worth of the Sports Card
Plan and budget: two components that will tell how your entire auction goes. Determine what you are willing to pay beforehand and stick to it until the very end of the auction. Set your limits so you don’t end up spending too much on your cards. You can also look for your competitor’s bid to avoid spending it too high or too low. Determining the worth of the sports card will not only help you in saving money but also help you choose a valuable sports card.
Not Understanding the Condition of Cards
Be aware of what you’re into. Study the item thoroughly before attending the auction. You must be aware of the grading system or third-party authentication company (including PSA, Beckett(BGS, BVS), CGC, and SGC) to know the condition of the cards and inspect it properly to take notes of any flaws or damages. It will help you determine the right price for the collectible so you don’t pay more than the article deserves. You can also connect with the auction house so that you can be provided with the right information.
Not Knowing What You’re Bidding
As a sports card collector, it is important to understand your interests and needs equally. This will help you to optimize your collection by holding potential cards rather than just having them. When you determine what you’re actually buying, it will make you realize the value of rare and precious cards over others. Since each card is different and holds a different market value that can grow exponentially in the market in the near future.
Buying Box Cards
Buying box cards may initially seem like a good grab, but it’s not. Buying boxes can be more expensive than individual cards, and it can limit your collection. They can also lead you to overbid for collectibles that don’t hold that much worth and market price. On the other hand, buying individual cards leaves you with hand-picked choices packed with more potential gains.
Trust a Reputed Seller
Who doesn’t want authenticity and trust to shop collectibles? To do this, you need to do a background check of the seller to know about the experience of previous bidders. Read the reviews and testimonials to research the seller’s history in-depth. You can also quickly check the seller’s grading system and other terms and conditions like payment, shipping details, cancellation policy, etc. Once you are done with this step, you can grab your favorite sports card without any hassles or stress.
Impulsive Buying
Don’t try to buy all of them. We know it can be overwhelming to make a selective decision, but having a value-added collection is important. So, focus on your interests and narrow down your vision to those with more value. Stay informed and be composed while bidding on sports cards; it will help you in the long run.
End Note
Auctions are crucial since they involve your money for a valuable collectible. And you don’t want to make a wrong decision regarding your favorite sports cards. Many people, especially beginners, often make these mistakes because they get carried away in the heat of the moment. Research, planning, budgeting, and being calm will help you to have a smooth experience with auctions. We hope this article will help you in your next auction so that you can make a decision worth taking the risk of.