Has anyone ever taken out a loan or dipped into their savings to fund a PC trail?

jwillgrails · 06-21-2021, 04:35 PM

Hey guys,

I’m in a bit of a quandary and looking for some advice.

A card popped up on eBay last night that would be an absolute monster for my PC. A truly once-in-a-lifetime opportunity.
I don’t have the disposable cash at the moment to buy it outright but I probably have enough equity in cards to get pretty close. I just won't have time to sell them all before the end of the auction.
Has anyone ever made a major purchase with their savings and then paid themselves back by selling off cards over several weeks/months.
I’m worried about how much discipline will be required to pull this thing off.
Am I being irresponsible or have people done this before?

Edit: Personally, I would never take out a loan. Let me make that really clear. It's more the high-level concept of going into a negative balance, and then selling off cards you own to get back in the black.

Edit: Grail, not trail

asujbl · 06-21-2021, 04:42 PM

No.

Because I’m not a crazy person.

I guess it depends on what you consider “savings” though

Speaking more to the loan…

If you can spend your savings and you actually (key word) sell everything to replenish? That’s not as bad

jwillgrails · 06-21-2021, 04:49 PM

Yeah I don’t think I would ever take a loan.

Savings is money that I have which is definitely not intended for luxury card purchases.

It’s the replenishing process that I’m nervous about because it would require a lot of effort and discipline.

alwayson22 · 06-21-2021, 04:49 PM

I have gone outside my "card budget" to purchase a big card, and then sold off cards to get back within budget. I was comfortable doing so because: (i) I had plenty in savings to give me the cushion to sell off overtime; and (ii) I had the card equity to easily cover the portion in excess of my budget. I would strongly urge you not to take a loan or go into your savings in a way that makes you even slightly uncomfortable. It is not worth it.

dengbang · 06-21-2021, 04:51 PM

I think I know the card in question. Having said that, unless you are willing to go all out on this card I doubt you could get it on a limited budget.

There will be many eyes on that card. Both set and player collectors have been wanting to add that card. Feel free to PM me if you want to know if we are talking about the same card.

Personally I'd never take out a loan for anything that wouldn't make me money in the long run.

Sent from my ONEPLUS A6013 using Tapatalk

duron · 06-21-2021, 04:53 PM

Don't do it.

(Unless you want to buy my More Good Stuff /99, then by all means dip into your savings.)

asujbl · 06-21-2021, 04:53 PM

Keep in mind that selling is going to get harder and harder and not get caught up in a tax situation if you’re already dipping into savings for a card

That’s a recipe for disaster

eastbayak · 06-21-2021, 04:55 PM

Quote:

Originally Posted by jeromeparot

Hey guys,
I’m in a bit of a quandary and looking for some advice. A card popped up on eBay last night that would be an absolute monster for my PC. A truly once-in-a-lifetime opportunity.
I don’t have the disposable cash at the moment to buy it but I probably have enough cards to sell to get pretty close.
Has anyone ever made a major purchase with their savings and then paid themselves back by selling off cards over several weeks/months.
I’m worried about how much discipline will be required to pull this thing off lol.
Am I being irresponsible or have people done this before?

On a couple occasions, I've purchased high-end PC cards that I didn't have the disposable funds for, at the time, forcing me to temporarily pull money from savings (I had the cards/wax to liquidate to replenish what was being pulled out).

Obviously, there's some risk associated with such a move (e.g., card/wax prices plummet immediately after you make the PC purchase and before you move cards to replenish it). With that said, I knew I could move the cards/wax quickly. Really depends on how fast you can move the cards.

But yeah, most recently, I did this for a raw 2003-04 SkyBox LE LeBron James #/99 true rookie (these almost NEVER come up anymore) and would do it another 100 (out of 100) times (under such circumstances)!

P.S. I've never taken out a loan (nor will I ever) on cards. Additionally, it might depend on what percentage of your savings we're talking about. I didn't deplete my savings (temporarily) either so I didn't feel as concerned (if it were like 100% of my savings, it might be a different story).

mindcycle · 06-21-2021, 05:02 PM

Personally, I would never take out a loan or potentially go into debt for a card. Cards are great and all, and I can totally understand landing a big grail, but at the end of the day it's just a sports card.

I purchased a big card last year before the covid boom. I worked out a deal with the seller to give me about week and a half where I was able to sell enough to cover 90% of the cost. It worked out well.

Other things to consider is you can't always depend on selling your cards for the price you "think" they might be worth. Especially right now where a lot of stuff is tending down and most isn't moving as fast as it was at the beginning of the year. Maybe it'll pick up next season, but IMO I don't think we get back to anywhere near where we were this season. Might be another good reason to try and move stuff now rather than later IMO.

jwillgrails · 06-21-2021, 05:09 PM

Thanks everyone.

To be clear, I would never take out a loan. I was just curious how people have managed this situation.

eastbayak · 06-21-2021, 05:17 PM

Quote:

Originally Posted by mindcycle

Personally, I would never take out a loan or potentially go into debt for a card. Cards are great and all, and I can totally understand landing a big grail, but at the end of the day it's just a sports card.

I purchased a big card last year before the covid boom. I worked out a deal with the seller to give me about week and a half where I was able to sell enough to cover 90% of the cost. It worked out well.

Other things to consider is you can't always depend on selling your cards for the price you "think" they might be worth. Especially right now where a lot of stuff is tending down and most isn't moving as fast as it was at the beginning of the year. Maybe it'll pick up next season, but IMO I don't think we get back to anywhere near where we were this season. Might be another good reason to try and move stuff now rather than later IMO.

It really depends on the card(s).

I just moved a card that I received my highest offer for only a couple weeks ago (compared to the 6-month period before). I picked up a couple cards in early 2021 that have actually appreciated since. Picking up select cards (e.g., serial-numbered rookie cards with low populations) have mostly worked for me over the years though, I don't touch the overproduced base Prizm junk.

jwillgrails · 06-21-2021, 05:18 PM

Quote:

Originally Posted by duron

Don't do it.

(Unless you want to buy my More Good Stuff /99, then by all means dip into your savings.)

I am legit interested in this card.

asujbl · 06-21-2021, 05:19 PM

Quote:

Originally Posted by jeromeparot

Thanks everyone.

To be clear, I would never take out a loan. I was just curious how people have managed this situation.

So much more is needed in context though

What do you currently make vs expenses?
What do you currently put into retirement?
What is your current tax situation when you get 1099’d to replenish savings?
What do you have on savings? How many months?

It’s never as simple as “what would you do”

coltsnsox07 · 06-21-2021, 05:21 PM

Something in an auction that was about a month away I wanted real bad so I scrimped and saved every extra $$ that month then lived like Mahatma Gandhi for about 2 months after I won it but was totally worth it.

SPauthentic84 · 06-21-2021, 05:25 PM

Dave Ramsey

mglevy125 · 06-21-2021, 05:50 PM

Absolutely. If you own a home, a Heloc is a great option. I guess that’s better though if your plan is to flip it.

jwillgrails · 06-21-2021, 06:18 PM

Quote:

Originally Posted by dengbang

I think I know the card in question. Having said that, unless you are willing to go all out on this card I doubt you could get it on a limited budget.

There will be many eyes on that card. Both set and player collectors have been wanting to add that card. Feel free to PM me if you want to know if we are talking about the same card.

Personally I'd never take out a loan for anything that wouldn't make me money in the long run.

Sent from my ONEPLUS A6013 using Tapatalk

Thanks! PM sent

SPauthentic84 · 06-21-2021, 06:20 PM

Just as an edit...if youre asking if you should take a loan out for a pc card

you shouldnt. you cant afford the card.

jwillgrails · 06-21-2021, 06:22 PM

Quote:

Originally Posted by asujbl

So much more is needed in context though

What do you currently make vs expenses?
What do you currently put into retirement?
What is your current tax situation when you get 1099’d to replenish savings?
What do you have on savings? How many months?

It’s never as simple as “what would you do”

Sure, but I'm obviously not going to get into the granular detail on Blowout.

It's more the high-level concept of going into a negative balance, and then selling off cards you own to get back in the black.

I've never done it personally so I wanted to hear from others.

asujbl · 06-21-2021, 06:24 PM

Quote:

Originally Posted by jeromeparot

Sure, but I'm obviously not going to get into the granular detail on Blowout.

It's more the high-level concept of going into a negative balance, and then selling off cards you own to get back in the black.

I've never done it personally so I wanted to hear from others.

This is absolutely horrible

From a high level concept

ninjacookies · 06-21-2021, 06:27 PM

Drained my ira to go all-in on Sekou and Goga B.

No ragrets.

BRob1 · 06-21-2021, 06:31 PM

Quote:

Originally Posted by SPauthentic84

Dave Ramsey

Ramsey would lose his mind at the thought of this.

mindcycle · 06-21-2021, 06:47 PM

Quote:

Originally Posted by eastbayak

It really depends on the card(s).

I just moved a card that I received my highest offer for only a couple weeks ago (compared to the 6-month period before). I picked up a couple cards in early 2021 that have actually appreciated since. Picking up select cards (e.g., serial-numbered rookie cards with low populations) have mostly worked for me over the years though, I don't touch the overproduced base Prizm junk.

Very true. The more common stuff that didn’t see exponential growth might hold a bit better. It does really depend though, I agree.

salthill · 06-21-2021, 06:56 PM

Quote:

Originally Posted by jeromeparot

It's more the high-level concept of going into a negative balance, and then selling off cards you own to get back in the black.

Unless there’s a language issue here, that’s debt. You can’t have a negative balance without owing someone.

Quote:

Originally Posted by jeromeparot

It’s the replenishing process that I’m nervous about because it would require a lot of effort and discipline.

It takes no discipline, you just do it. This isn’t kicking drugs, smoking or weight loss.
Sorry to be blunt, but the fact you even frame it that way means you’re not ready for the task.

Ericc5Bears · 06-21-2021, 07:00 PM

I don't think it's as terrible of an idea as some others in this thread are saying as long as you're confident you can replenish most of the funds with sales, and as long as you're disciplined enough to not go overboard on the bidding. You need to pick a max bid number that you're comfortable with right now and not go higher than that number no matter what happens. If you win it with that number then awesome, if not, at least you gave it your best shot. At the end of the day, the whole point of money is to make you happy so as long as you aren't being totally financially irresponsible I don't see the problem.

06-21-2021, 04:35 PM	#1
jwillgrails Member Join Date: Aug 2019 Location: Melbourne, Australia Posts: 225 jwillgrails jwillgrails	Has anyone ever taken out a loan or dipped into their savings to fund a PC trail? Hey guys, I’m in a bit of a quandary and looking for some advice. A card popped up on eBay last night that would be an absolute monster for my PC. A truly once-in-a-lifetime opportunity. I don’t have the disposable cash at the moment to buy it outright but I probably have enough equity in cards to get pretty close. I just won't have time to sell them all before the end of the auction. Has anyone ever made a major purchase with their savings and then paid themselves back by selling off cards over several weeks/months. I’m worried about how much discipline will be required to pull this thing off. Am I being irresponsible or have people done this before? Edit: Personally, I would never take out a loan. Let me make that really clear. It's more the high-level concept of going into a negative balance, and then selling off cards you own to get back in the black. Edit: Grail, not trail Last edited by jwillgrails; 06-21-2021 at 06:27 PM.

06-21-2021, 04:42 PM	#2
asujbl Temporarily Suspended Join Date: Jun 2010 Posts: 63,299 ohiosundevils	No. Because I’m not a crazy person. I guess it depends on what you consider “savings” though Speaking more to the loan… If you can spend your savings and you actually (key word) sell everything to replenish? That’s not as bad __________________ https://ohiosundevils.smugmug.com/ Browns/Cavs/Tribe/Buckeyes/Jackets/Devils TheFrenzy - “Blowout ain't a place for normies”

06-21-2021, 04:49 PM	#4
alwayson22 Member Join Date: Sep 2011 Location: Brentwood, TN Posts: 897 onsports11 alwayson22	I have gone outside my "card budget" to purchase a big card, and then sold off cards to get back within budget. I was comfortable doing so because: (i) I had plenty in savings to give me the cushion to sell off overtime; and (ii) I had the card equity to easily cover the portion in excess of my budget. I would strongly urge you not to take a loan or go into your savings in a way that makes you even slightly uncomfortable. It is not worth it. __________________ My Website ---> http://justinduchscherercollection.weebly.com/ I Collect Justin Duchscherer --- 220/231 Non-1/1's (95.24%) FINDER'S FEE FOR ANY DUCHSCHERER CARD REMAINING ON MY LIST ABOVE OR ANY 1/1 IG: cdcd_cards

06-21-2021, 04:51 PM	#5
dengbang Member Join Date: Apr 2012 Location: Midwest Posts: 2,054	I think I know the card in question. Having said that, unless you are willing to go all out on this card I doubt you could get it on a limited budget. There will be many eyes on that card. Both set and player collectors have been wanting to add that card. Feel free to PM me if you want to know if we are talking about the same card. Personally I'd never take out a loan for anything that wouldn't make me money in the long run. Sent from my ONEPLUS A6013 using Tapatalk __________________ I collect Johnny "Red" Kerr & Luol Deng

06-21-2021, 04:53 PM	#6
duron Member Join Date: Aug 2014 Location: NYC Posts: 12,093 drewtang duron	Don't do it. (Unless you want to buy my More Good Stuff /99, then by all means dip into your savings.) __________________ IG: Darz90sCardz PC: MJ/Penny

06-21-2021, 05:02 PM	#9
mindcycle Member Join Date: Apr 2015 Location: Denver, CO Posts: 5,043	Personally, I would never take out a loan or potentially go into debt for a card. Cards are great and all, and I can totally understand landing a big grail, but at the end of the day it's just a sports card. I purchased a big card last year before the covid boom. I worked out a deal with the seller to give me about week and a half where I was able to sell enough to cover 90% of the cost. It worked out well. Other things to consider is you can't always depend on selling your cards for the price you "think" they might be worth. Especially right now where a lot of stuff is tending down and most isn't moving as fast as it was at the beginning of the year. Maybe it'll pick up next season, but IMO I don't think we get back to anywhere near where we were this season. Might be another good reason to try and move stuff now rather than later IMO.

06-21-2021, 05:09 PM	#10
jwillgrails Member Join Date: Aug 2019 Location: Melbourne, Australia Posts: 225 jwillgrails jwillgrails	Thanks everyone. To be clear, I would never take out a loan. I was just curious how people have managed this situation.

06-21-2021, 05:21 PM	#14
coltsnsox07 Member Join Date: Aug 2011 Posts: 22,199	Something in an auction that was about a month away I wanted real bad so I scrimped and saved every extra $$ that month then lived like Mahatma Gandhi for about 2 months after I won it but was totally worth it.

06-21-2021, 05:25 PM	#15
SPauthentic84 Member Join Date: Feb 2011 Location: PA Posts: 11,317	Dave Ramsey __________________ Follow me on Instagram: Spauthentic1

06-21-2021, 05:50 PM	#16
mglevy125 Member Join Date: Oct 2015 Posts: 1,362	Absolutely. If you own a home, a Heloc is a great option. I guess that’s better though if your plan is to flip it.

06-21-2021, 06:20 PM	#18
SPauthentic84 Member Join Date: Feb 2011 Location: PA Posts: 11,317	Just as an edit...if youre asking if you should take a loan out for a pc card you shouldnt. you cant afford the card. __________________ Follow me on Instagram: Spauthentic1

06-21-2021, 06:27 PM	#21
ninjacookies Member Join Date: Jan 2011 Location: All the girls see the (boi)/ Look at his flips / Look at his kards / All they say is (oh boi). Posts: 57,034	Drained my ira to go all-in on Sekou and Goga B. No ragrets. __________________ #5 world ranked Ledell Eackles superclection as recognized by Tuff Stuff junior managing editor, Barry McCaulkinner. Somethin' like a cross between Teddy Aguhob and Kaboom Mystery Packs. I got that Givenchy denim flow.

06-21-2021, 07:00 PM	#25
Ericc5Bears Member Join Date: Aug 2020 Posts: 1,267	I don't think it's as terrible of an idea as some others in this thread are saying as long as you're confident you can replenish most of the funds with sales, and as long as you're disciplined enough to not go overboard on the bidding. You need to pick a max bid number that you're comfortable with right now and not go higher than that number no matter what happens. If you win it with that number then awesome, if not, at least you gave it your best shot. At the end of the day, the whole point of money is to make you happy so as long as you aren't being totally financially irresponsible I don't see the problem.