Many chances in life are singular. Nothing has made this clearer to me than getting back into collecting Pokémon cards two years ago. Some cards that cost 50 cents back then now go for $30. Others have shot up from $10 or $50 to $200. At the same time, some cards I had to buy for dozens of dollars cost only a buck or two a few years before I rejoined the hobby. Now, new cards are cheap and affordable. They, too, will likely cost a lot more in a year or two.
That’s the good news for collectors: There’ll always be more deals. But the same deal? Nuh-uh. This is more pronounced in physical assets, especially limited ones, like paintings or collectibles. If the company only prints a limited amount, event…
Many chances in life are singular. Nothing has made this clearer to me than getting back into collecting Pokémon cards two years ago. Some cards that cost 50 cents back then now go for $30. Others have shot up from $10 or $50 to $200. At the same time, some cards I had to buy for dozens of dollars cost only a buck or two a few years before I rejoined the hobby. Now, new cards are cheap and affordable. They, too, will likely cost a lot more in a year or two.
That’s the good news for collectors: There’ll always be more deals. But the same deal? Nuh-uh. This is more pronounced in physical assets, especially limited ones, like paintings or collectibles. If the company only prints a limited amount, eventually, the entire supply that’s out in the wild will start to dwindle. Pokémon cards get lost. Kids destroy them. Parents accidentally wash them in the laundry or throw them away. If the available quantity can only go down, and people still want the item, the price can only go up. Often, new market rates retrace a little bit after a card has run up, but they rarely go back to the same price from a few months before.
In many other asset classes, the same opportunity repeats. Stock charts from so-called gaps, which the price often revisits. The first time a stock breaks, say, the $50 mark, is rarely the last time you’ll get a chance to buy it at that price. Cryptocurrencies swing even more drastically. Silver is only now getting close to its all-time high from 14 years ago. These opportunities will arrive on your doorstep time and again—but the chance to buy a particular card, collectible, or painting? A job offer, severance package, or ask to be featured in a magazine or score a book deal? These will come, then go. Their successors might rhyme, but they likely won’t repeat.
Know which lucky breaks are once-in-a-lifetime, and jump on everything you’ll regret to have let pass. Meet opportunities when they arrive, and be careful which ones you tell to come back later.
Nik
Niklas Göke writes for dreamers, doers, and unbroken optimists. A self-taught writer with more than a decade of experience, Nik has published over 2,000 articles. His work has attracted tens of millions of readers and been featured in places like Business Insider, CNBC, Lifehacker, and many others. Nik has self-published 2 books thus far, most recently 2-Minute Pep Talks. Outside of his day job and daily blog, Nik loves reading, video games, and pizza, which he eats plenty a slice of in Munich, Germany, where he resides.