An instagram follower asked if it is better to buy low and sell high or buy at the going rate (market value) and set new pricing standards.
The obvious answer is to buy low and sell high.
But let’s think this one through.
Anyone who is in the sports cards hobby for money will prioritize buying low and selling high. This is part of the investment strategy just like you do with stocks. Similar parallels.
A perfect example of the buy low sell high concept is a niche in this hobby that I absolutely enjoy and that is prospecting. I will do lots of research especially baseball prospects to determine where the buy low opportunities are. As soon as the prospect gets called up to the pros, then that is usually the perfect time to sell high.
Buy low sell high is what I am focused on as the side hustle part of this hobby. Now I might not sell for a year or even 2+ years, but my goal is to buy low sell high.
The other side of this question is whether to buy at the going rate and set new pricing standards. To make it clear I am not talking about market manipulation. That is an entirely different area. A perfect example of buying at the going rate and setting new pricing standards is when there is a low population of a graded card, a very short printed card, or low numbered card. Sometimes with these scarcer variety of cards, you can start setting new pricing standards because there just is not enough to determine what the market value is.