A couple of things I learned this weekend about the Hobby (been collecting cards again for about 3 months):
1. Owning and running a local card shop is a tough gig. I went to my local card shop on Friday evening to redeem my Topps NFL MVP Stafford cards (I have 2 cards totaling $60). The owner said they weren't taking them anymore. I asked why as I thought the deadline to redeem was August 1st. He told me he was a having a tough time getting paid by Fanatics/Topps in a timely manner for the redemptions he had already sent in and the unpaid receivable was hurting his cash flow. He said given that issue and the fact that he was getting very little allocation for new products, he couldn't stay in the redemption program. I gave my sympathies for his issues and left empty handed.
It seems like this current boom in the Hobby has been great for the big name breakers and card shops who have no problem getting all the product they want from Topps in a timely manner at wholesale prices. However, for the smaller shops that are lower on the priority list, it can be a real struggle when they can't get reimbursed in a timely manner for running Topps corporate promotions, nor can they get product allocation at wholesale prices, so they are forced to buy boxes in the secondary market and price them far above retail so they can make a profit.
2. Buying singles takes time and focus. I found another card shop a little further away from me that would take my redemptions, so I went late Saturday afternoon about 30 minutes before close. Since there wasn't much available in terms of boxes that I wanted, I looked through the displays to find a couple of singles that I could use my redemption to purchase. I ended up buying 3 singles that I liked, but given that the shop was about to close, I went ahead and went to the counter to use my redemption to get the cards. It wasn't until I got home that I realized I should have checked recent sales comps on my phone. I checked and sure enough I paid almost double than I probably should have. So while I like the cards I got, I learned that when shopping for singles, I need to give myself enough time to research recent comps so that I can buy at a price closer to market value (I can understand the shop needing to price over the online market price, but I think the cards I got were too far over the comps I found).