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I’m a breaker on the side. Cousin runs a LCS so we partner in the breaking business. He has direct Topps and Panini accounts so we get cases through that and sell spots through eBay, Instagram, and Facebook marketplace. Stream via YouTube. The business is structured as a LLC.
Bowl Leader
I just started looking into it. I’m looking at investing $5-10K, mix of sports, modern and vintage. I’m not planning to do much else (e.g., breaking, e-comm, etc.), I just think it’s a fun way to potentially make a bit of money, but not a primary source of income
Bowl Leader
Wish I had invested last year though. Prices are through the roof this year. Do you guys think these prices are sustainable long-term? Or pandemic bubble?
They are sustainable if new folks continue to consider it an investment or if these new investment funds catch wind and big money dumps in. And it’s pretty risk free historically with solid upside as a long term investment if you are in vintage or modern low pop cards. I made 130% gain on what I sold last year and my inventory value increased by 90% over that time as well. My net income was more around 30% of gross income due to feebay and employee cost.
I think there is a lot of money in prospecting these days with 1st bowmans. The prices of Jasson Dominguez, Wander Franco, etc. is crazy for low pop autos and psa 10’s. But baseball is nothing compared to basketball. I think if you stay focused on the prime products and none of the junk you’ll make money. Putting the breaking aside, my ROI is over 100% the last two years on 1st Bowmans and psa10’s of the key rookies. Right now I’m stocking up on Luis Robert and Trent Grisham rookies, preferably lots of raw cards that I grade.
Bowl Leader
That makes sense. Franco and Dominguez are way overvalued IMO. They haven’t done anything yet and prices are close or higher than future hall of famers. Both guys could work out, but high risk profile and significant downside potential. Luis Robert is the real deal, high prices on his cards as well though.
Just started a month ago with a few buddies. We use to collect cards while we were younger. Pulled out some pokemon cards and have started to sell those. Have been buying Panini Prizm Football cards and trying to target buy lows. Also been buying a lot of Kyler Murray. Did one break with a few buddies and broke even with the cards we hit.
Ey1 do you make any money on the breaks? Was thinking about doing this with my buddies - the one is a social media influencer currently so he was debating.
LCS is local card store. Since I’m able to get direct pricing from topps and panini I’m paying less than the major distributors are charging. What I mean by list is the current price blowout or steelcity is charging for the same case. For example, the day 2020 Bowman was released I had a 85% profit locked in from what I paid to topps versus what I used as my case price to determine spot prices in my break.
I've been doing this for a decade (since I was in school) and buy/resell modern singles. I've averaged a 40% profit margin on sales across that time, has ranged from 30-50% depending on the year.
I've operated as a sole prop thus far, may convert to an s-corp in the near future.
I do both graded and ungraded. Basically 3 ways to make money: flips (my preferred method), investing in players who you think will do better, buying raw and grading. I dont specifically buy stuff for the purpose of grading, but will send a card for grading if it happens to be mint or gem when I receive it.