1334 - Hobby or Business?

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Dr. Beckett discusses the distinctions between hobby and business in the world of sports cards. He explores how one's approach defines their engagement, whether it's purely for fun or for profit. Dr. Beckett shares personal anecdotes about his journey from a passionate collector to a business-minded dealer, highlighting the nuances of tax implications, emotional connections, cash flow, and market strategies. He concludes that many enthusiasts, including himself, navigate both realms, finding joy in both collecting and the business aspects.
01:08 Defining Hobby vs. Business
01:57 Passion vs. Profit
03:06 Financial Considerations
03:43 Buying, Selling, and Holding
07:51 Systems and Strategies

[@DR-rn4es]

Always love listening. I love the end surprise

[@stuke1976]

Nice insight on the hobby.

[@jamesmcferran4938]

Dr. Beckett please give me guidance as to what the prospects are for Beckett slabs going forward…I love the look and quality of the slabs but am concerned about their marketability based on the financial and marketing challenges they have recently endured. Thank you Sir.