SPORTS MEMORABILIA SPECIALIST AND LIFELONG COLLECTOR JOE ORLANDO BREAKS DOWN THE DANGERS OF HOLDING TOO LONG
By Joe Orlando | June 3, 2025
If you are reading this, you are likely an active collector. I am, too, which is why I wanted to share my experience on this subject. Collectors, at least most of the ones I have known in my lifetime, have a much harder time selling than buying. That is part of the collector wiring. We are hunters, builders and organizers by nature. Adding to our collections brings us joy. Letting go of something we own, no matter the financial outcome, counters our instinctual drive.
While the above might resonate with you, we all have faced those moments when the time to sell one thing or another is right now. It could emanate from a personal situation, be the product of a market that is too robust to ignore in a particular category, or stem from the need to sell or trade one item to acquire something more desirable. For those of us who have some budget limitations, giving up something we like for something we want even more is an inevitable part of the hobby experience.
The ticket market exploded a couple of years ago, and unprecedented prices like this one ($468,000) for Michael Jordan’s debut grabbed headlines throughout the hobby.
While the rational part of our brain recognizes that there is a “better” or “best” time to take advantage of a selling opportunity, we still tend to hesitate. I know I have, and the message I have for you is to try to recognize when the emotional and perhaps irrational side of you is trying to overpower your reasoning. It isn’t easy to do; trust me. I have failed myself on occasion by doing the exact opposite, and those regrets are real.
Fortunately, there haven’t been too many of them, but I can’t forget the ones I missed as a potential seller. In fact, I didn’t even take a swing. With the bases loaded in the bottom of the ninth, I stood there with the bat on my shoulder and took a called strike three. As hard as it can be to decide to sell, deep down, we know it’s time. Our collective experience and gut are telling us to do it, yet we hold instead.
Let me make something abundantly clear. There are plenty of times when holding is the right decision, for financial reasons or otherwise, and no one is suggesting that anyone should be looking to sell all or a substantial portion of their collections in a forced manner. What I am referring to are the times when an outrageous offer comes to you for a specific item or the market itself heats up to such an unprecedented level that the monetary gains are hard to process. I am not talking about a close call; I am talking about an evident windfall.
You know it when you see it, no matter how much the collector inside tries to ignore it.
High-grade, low-population cards from the 1970s have enjoyed an outstanding run in recent times, even when they don’t feature superstars. This 1973 Topps Basketball Paul Westphal ($36,600), 1973 Topps Football Ken Stabler ($42,000) and 1975 Topps Baseball Doug Rau ($30,000), all graded PSA Gem Mint 10, sold within the past year at Heritage Auctions.
Every market, including every category within collectibles, goes up and down. That is what a market is. That said, the human condition pushes most of us in a counterproductive direction. For example, what happens when the price of gold skyrockets? It seems like everyone wants to buy. What happens when it plummets? Suddenly, it appears everyone wants to sell. Of course, we should be encouraged to do the exact opposite in these situations, but our nature is powerful.
There is an old and somewhat harsh saying about our impulse to be greedy beyond reason: “Pigs get slaughtered.” It’s not exactly a visual that you or I want to think about, but there is a lot of truth behind that graphic statement. There will be times when an offer or a drastic uptick in the market will come along and force you to face whether or not to sell. Don’t think of it as a dilemma. It is an opportunity not just to make money but to use that money to keep building your collection. Minus one might add up to a lot more in the end.
In the past few years, more collectors have been drawn to the vintage unopened market, which has resulted in new price levels for outstanding examples. This 1965 Topps Baseball wax box sold for $336,000 in January 2024 at Heritage Auctions.
If there’s one thing I have learned over the years as a collector, it’s that there’s always something else to buy. Some collectibles are truly irreplaceable, and we may not want to sell them at any price as a result, but the irony is once we move on, the loss is seldom nearly as painful as we imagined it to be. Sometimes, the best move is to pounce before the window closes because windows do close. The unfortunate and common assumption is that the exceptional offer or scorching market level will always be there, but things change.
I know because I have been guilty of holding too long. The opportunity disappeared for good when I could have used those funds to improve my overall collection. When you are presented with the same, make sure you let your critical thinking overrule your sentiment. Taking substantial profits from time to time often enhances the collecting experience.
More purchasing power can be a lot of fun.
