1334 - Hobby or Business?

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