Looking to invest in trading cards or to build a personal collection? If you’re buying cards online, you should check out these tips from Eric Bitz from BuyNiceCards.
Collectibles have become all the rage in recent months with rare cars, trading cards, NFTs, and other collectible assets selling for record prices. If you’re looking to get into online trading card investing and collecting, however, there are some things you need to know. Fortunately, trading card expert Eric Bitz is going to share his insights.
“Trading cards offer a great way to develop a hobby and to also potentially make some money too,” Eric Bitz of BuyNiceCards says. “That said, there are some risks. Right now, with any collectibles, counterfeits are perhaps the biggest risk.”
Did you know that a study by Switzerland’s Fine Art Expert Institute found that as much as half of artwork circulated in the market could be fake? It’s not just private collectors getting duped either. Much of the artwork hanging in museums is believed to be fake. In some cases, museums may be protecting the originals, but in other cases, even expert art collectors have been duped.
Consider the plight of the Museé Terrus in Elne, a French museum. A close inspection found that 82 out of 142 works on display were forgeries! Sadly, there are some counterfeits in the online sports trading card market as well.
“The risk with buying trading cards online is very real, but there are ways to protect yourself,” Eric Bitz of BuyNiceCards says. “Sometimes, a specific card will have a clear chain of custody of who owned it, allowing to you trace its history. You may also be able to find high-quality photos of the original online to then compare, and you can find experts who can readily verify cards too.”
Verifying individual trading cards takes work. However, it’s often easier to verify a trading card than a four-hundred-year-old painting. The artists who created these works are no longer alive and trying to trace ownership and confirm authenticity is typically more difficult.
Eric Bitz of BuyNiceCards Talks About Deals to Avoid and Deals to Cash in On
Buying collectible cards online can be intimidating, but there are steps you can take to protect yourself. A bit of caution now could save you from a lot of headaches and lost money in the future.
“The first thing you should ask yourself is if a transaction objectively makes sense,” Eric Bitz of BuyNiceCards suggests. “Some guy selling supposedly valuable cards on an online forum for a fraction of their value doesn’t make sense. Why would he sell the cards cheap if he knows they’re worth a lot more? Make sure you verify before you buy.”
That doesn’t mean you can find good deals, however.
“If you find a box of cards for cheap on eBay that someone dug out of their garage, the gamble might be worth it if the price is right,” Eric Bitz says. “But if you’re looking specifically at rare cards selling at high prices, it’s best to work with reputable online dealers with a good track record.”