A struggling economy, sky-rocketing gas prices and an uncertain future has forced many sports memorabilia collectors to channel their disposable income in directions other than trading cards.
Simply put, many collectors aren`t buying like they did even six months ago. And those who continue to buy have become extremely selective about their purchases.
”Some dealers are being forced to sell products under cost,” said Pat Quinn of Sport Collectors Store in La Grange. ”I see it when walking around at shows. Pro Set hockey cards are going for $8 a box. That`s almost $4 under cost. Prices on a lot of things are stagnating or going down. Nobody is spending big bucks on cards anymore.”
”Dealers seem to be selling stuff just to get rid of it,” said promoter Louis Pinsky. ”The dealers who depend on cards as their sole income are trying to stimulate cash flow any way they can.
”People have question marks. They don`t know what the future holds. They wonder about the Iraqi situation and if it will continue to affect the economy.”
Long-time promoter/dealer Fred Copp, who survived a soft memorabilia market in 1981, also wonders.
”There are some people having problems,” he said. ”My (card-show)
numbers aren`t as good as they were a year ago, and spending is down. People are just cutting back. Many of them are waiting to see what happens.”
Collectors who continue to buy are not only getting bargains, but they`re having a field day. Many realize the market will come back and, pardon the pun, if they`ve played their cards right, holdings could increase
dramatically.
”The money people spend in baseball cards is almost as if they drank,”
said Gene Liporace of Seventh Inning Stretch in Schaumburg. ”If a guy`s going to drink, he`s going to drink. You`re just as hooked on baseball cards.”
Liporace and others say business is still good, despite changes in buying patterns. Price adjustments, sales and other incentives keep customers coming in.
”My store is busy as heck,” said Liporace. ”People are buying. A lot of it is buying for Christmas. I`m worried we`re going to run out of some merchandise, even though we have a good supply. Lately, every day has been like a Saturday.
”We`re running seven weeks of sales, and it`s like blockbusters in here. As far as the economy is concerned, I haven`t felt it. Things aren`t dying. The only thing is, people seem to buy more packs than individual cards.”
Some dealers report customers who bought two boxes of a given set of cards have cut to one. Collectors seem content coming back to fill out their
”want” lists, using only a fraction of what they would normally spend on that second box.
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”People seem to be staying home more,” said Mark Benson of The Dugout in Calumet City. ”One of the things they seem to be doing is buying cards, going home and sorting them.
”Our store is doing well, but we hear about people bailing out. Those who bail out don`t belong in the (sports memorabilia) business in the first place. They don`t realize it takes longer than two months to make money in this. Some people buy a case or two of a product and call themselves a dealer, which they`re really not. They sell at a loss to get money to buy newer products. People like that won`t be around long.
”You have to be willing to sit on the products. You can`t panic when things are going bad. I believe in what I`m selling. I`d rather buy a case of cards than put money in the bank. Cards will drop, but they will come back.” Says Copp: ”It`s conceivable some people will bail out. It (being a memorabilia dealer) isn`t as easy as they thought it would be.”
Quinn says overproduction is the real evil.
”Collectors are starting to look at cards and say, `There`s more than meets the eye,` ” he said. ”They don`t have to settle for buying from the first, or 10th or even 100th dealer. As a collector, if you have enough cash and wave it in somebody`s face, you`ll get a good deal.”
Next week: An examination of card overproduction and the glut of new issues and card shows, factors that have dealers and collectors wondering about the future.