- Dan Fleyshman has been buying and selling and gathering sports playing cards since he was a child. Now he is a profitable playing cards reseller and proprietor of lately opened Cards and Coffee, a sports-card store situated on Hollywood Boulevard.
- He shared with Business Insider the funding methods that helped him promote $350,000 price of playing cards in the previous couple of months.
- He beneficial investing in playing cards of gamers who will stand the take a look at of time even after they retire.
- Investing in folks you want or playing cards of gamers whose worth you may’t clarify is dangerous.
- Getting your playing cards appraised can up their worth, and solely make investments as a lot as you are keen to take a seat on for a whereas. Consider card reselling like gathering high quality paintings.
- Visit Business Insider’s homepage for extra tales.
Dan Fleyshman received his entrepreneurial begin between the ages of 4 and eight selling baseball playing cards at a farmer’s-market-like occasion on weekends, at a sales space the place his mother and father offered Levi’s denims from a van. By highschool, he was selling sweet on campus by day and dealing three jobs by night time.
After launching a clothes model in highschool, he landed a $9.5 million licensing deal on the age of 19 and went on to take the corporate public at age 23.
Now Fleyshman, 39, has returned to his childhood roots selling sports playing cards. Last yr, he advised Business Insider, in the course of the National Sports Collectors Convention, entrepreneur Gary Vaynerchuk invited him to spend a few days at his card sales space.
“Seeing his passion got me back into [sports-card] investing, but then this year after experiencing so many of the cards going up 300%, 400%, and some 1,000%, it made me focus serious capital, time, and resources into the card market,” Fleyshman stated.
In simply the previous couple of months, Fleyshman has offered round $350,000 price of playing cards from his assortment of particular person sports playing cards and containers, and he believes that the rest of his assortment is price way over that.
And simply final month Fleyshman launched Cards and Coffee, a sports-card store situated on Hollywood Boulevard in Los Angeles that he cofounded with Steve Aoki and DJ Skee. The store makes a speciality of shopping for and selling playing cards, containers, and packs from the general public, grading playing cards for clients for a payment, and selling clients’ playing cards on consignment, and lists playing cards on eBay and StockX.
Fleyshman stated that there are a few LeBron James and Michael Jordan playing cards in his retailer that add as much as greater than $350,000 alone out of 1,200 graded playing cards and over $600,000 of sealed containers.
In a latest Instagram promo video of the shop — which featured photographs of card aficionados donning masks, that are required within the store in gentle of COVID-19 — the cofounder stated the store options over $2 million price of NFL, NBA, MLS, MBA, PGA, tennis, and Pokemon playing cards.
Another key service at Fleyshman’s card store is a web based element referred to as “Live Breaking,” which he described as the primary focus of his enterprise.
“Customers pay for individual packs and boxes and rip them open on a livestream to showcase it,” he stated. “You could get a box of cards that are not worth too much or get a box with a card that is worth $20,000. It’s fun and exciting, but unlike casino gambling the customer leaves with something regardless.”
He sees this method as the way forward for the sports playing cards enterprise.
“We are really focusing on the online world to ship locally and internationally to all clients in a new and exciting way,” Fleyshman stated.
“There’s no food for sale, only sports cards and Pokemon,” he added, in reference to the shop’s identify.
Fleyshman stated his funding technique is “hyper-focused on supply and demand.” Here are his high ideas for card shopping for and reselling.
Purchase rookie playing cards — as a result of the market has dictated for a long time that they need rookie playing cards
Fleyshman stated that with every participant, there’s a “determined card” that the market decides.
“You have to go after cards that people want to pay for, in theory the supply and demand,” he stated. “You have to go after cards with the most demand. It’s important to follow the trends and try your best to be ahead of the trends.”
Invest in gamers which have large names, large advertising and marketing, and might face up to the take a look at of time
“Unless you’re flipping cards, you have to look at players that are going to be famous after they’re done playing sports,” Fleyshman stated. He listed Magic Johnson, Charles Barkley, Shaquille O’Neal, and LeBron James as nice examples of gamers that did spectacular issues after their careers ended.
“Other players might be similarly good, but if they are not a huge household name in their career before they retire, their cards will not do as well,” he stated. “You want players that will still be in the public eye.”
If it’s a must to clarify the worth of the cardboard, do not buy it
For a card to be price buying, folks ought to know the cardboard and be actively in search of it, Fleyshman stated.
“You should know who the household names are and know that those are the most valuable,” he stated. “A good indicator is explaining the name to people who are not NBA fans. Another good indicator is if [the players] have international recognition.”
Don’t put money into gamers you want simply since you’re a fan
The entrepreneur referred to as the method of selecting playing cards of your favourite gamers “collecting” versus investing.
“[Collecting] is fine, and a fun hobby, but for investment purposes, focus on young superstars and old-school legends,” Fleyshman stated. “Old-school legends are of course important to invest in, but young superstars who are breaking records and have championship teams are also important to invest in.”
As examples of rising stars whose playing cards are price buying, he pointed to basketball participant Giannis Antetokounmpo — whose card offered for a record-breaking $1.81 million in September — in addition to Ja Morant, who was named the NBA’s Rookie of the Year for 2019-2020, and 20-year-old Zion Williamson, who has solely been within the NBA for a little over a yr but has already graced many Sports Illustrated covers.
“[Antetokounmpo] is named the ‘Greek Freak of basketball’ as he proves to be a force to be reckoned with,” Fleyshman stated. “It’s important to pay attention to breaking records and who is winning awards — those are the superstars.”
Only make investments what you may afford to have locked away into a participant’s card for years
Fleyshman stated that investing in buying and selling playing cards is just like being a high quality artwork collector — which suggests try to be ready to attend a whereas to see your funding recognize. While he is been making cash from flipping playing cards which have skyrocketed in worth this summer season, he is additionally opted to carry onto most of his assortment as a result of he believes that the worth of his playing cards will maintain rising because the years cross, like paintings.
“You’re hoping that the player’s brand name/legacy will grow over time, which will in turn raise the value of their cards,” Fleyshman stated. “For example, you can invest in Zion Williamson now, but what you’re really investing in is, ‘Will they go down with some of the greats?'”
Another good instance, in accordance with Fleyshman, is Luka Doncic.
“[Doncic’s] card was worth $70 last year and now it’s worth more than $1,400,” Fleyshman stated. “That’s more than a 2,000% growth.”
16-year-old Andrew Park, for instance, offered a Doncic basketball card for $350,000 that he’d bought about six months earlier for $75,000, pocketing $250,000 from only one card.
Fleyshman urged contemplating your funding targets that can assist you resolve whether or not to carry onto a card or to promote it.
“You can say to yourself, ‘When this card gets to $400, $600, or $800 in value, then I will sell,'” he stated. “You can also look at timeline goals, which you can set for yourself every season, which you can say to yourself, ‘I will revisit the card every season/championship and see if I’d like to sell then.’ By looking at the cards at the end of the season and based on how they played, that’s how its value gets boosted.”
Get your playing cards appraised to extend their worth
Fleyshman added that it is necessary to get your playing cards graded by Professional Sports Authenticator (PSA), which he stated is the largest authentication and grading firm.
“For example, if PSA gives you a 7, that’s one price, 8 another, but if you have a 10, it will be worth thousands of dollars,” he stated. “This can take anywhere from three to six months for the slowest service, 20 to 30 days for the premium service, or five days for the ultra-fast service. If your card is raw (has not been graded), it will be worth so much less.”
“For you to get a better idea of how much your card is worth, search on eBay and look at sold items (while people will sell it for more) — you can see what they actually bought it for and that will show its actual worth,” he added.