we're back flagship episode here on the stacking slabs network i'm brett if you are new to the content we are putting out here loyal listeners shout out i do appreciate you it is a fun exciting invigorating week in the hobby and sports card industry if you are on your way to rosemont illinois and you're consuming stacking slab shout out to you i do appreciate you i appreciate the support as always tell a damn friend we've got a patreon group where we do more new and exclusive content link is in the show notes you can go check that out but we're going i'm fired up still feeling energized post fanatics fest there's a week in between trying to play catch up trying to keep the content engine rolling trying to prepare for the national doing all the things and feeling very very fortunate to be able to be in this space doing what i'm doing can't wait to meet many of you out at the national national it's going to be crazy it's gonna be fun let's go let's get ready and what i wanted to do in today's episode is talk about when one card creates a new standard there's going to be a lot of action a lot of activity a lot of pc building a lot of buy sell trade and i wanted to slow things down a bit in this flagship on the national week to give you some perspective that i hope will help you before we do that gotta shout out my sponsor inferno red technology the engineering team behind some of the biggest names in sports and collectibles like dc sports eighty seven comsea collectors and upper deck and ebay from ai powered solutions for startups to full stack platforms for industry leaders their team can tackle your toughest technology challenge they build awesome software for the hobby for leagues and fans and for everyone in between see what they can build for you at inferno red dot com make sure you go check out enter the inferno a one of a kind hobby tech event happening on the main stage at the national three pm on saturday you're not gonna wanna miss that let's get into it let's go let's get this party started as i was preparing for this i was consolidating so much thoughts i was digging into a bunch of different pieces of content researching and i think we landed in a pretty good place and i'm feeling very excited to share today but i wanna start here there are cards that enter your collection and take their place alongside everything else then there are cards that change how you think about everything else that is what i wanna get into not the biggest card in your collection not the most expensive card the card that creates the new standard for your collection the card that forces you to ask whether the pieces you once considered foundational still belong the card that turns one buying decision into a series of decisions you never plan to make i'm going through this right now i'm in a deep things are changing things are moving this change excites me i recently made a big decision and brought in a card in my collection not ready to share that yet some final things are taking place that day will come but for now the identity of that card is not the point what what the card has done to my thinking is the point buying it required sacrifice i had to let go of cards that matter to me some of those cards help define the version of my collection that existed before this decision i did not move cards that meant nothing if that were the case there would be nothing to sacrifice and hell i wouldn't have a piece of content to deliver to you today i moved cards i enjoyed owning cards with stories cards i worked to acquire cards that made sense inside the collection i had built then i made a decision once the new card came in i looked at what remained and saw a different collection the cards had not changed but my standard had that's the part of major acquisition we do not discuss enough we spend time talking about the chase the deal the money we talk about what we sold traded and what we added we rarely talk about the internal change that follows a major card can reorganize the meaning of a collection it can make your direction clear it exposes the cards you are holding because they fit an old plan it can show you that the collection you built was serving a version of you that no longer exists it can also fool you it can cause you to build a new story around a big purchase because you need the purchase to feel right and i think that tension matters sometimes one card reveals your new direction sometimes one card creates pressure to justify the decision you already made the work is knowing the difference that is what this episode is about identity sacrifice the role of emotion and how it impacts you before and after the purchase it's about how a collection changes when one card becomes a reference point for everything else it's also about how to handle the moment without turning one decision into five russ decisions the episode obviously is dropping at a very intentional time you are in rosemont at the national you're on your way to rosemont at the national and collectors will walk into that building with lists budgets trade cases and plans many will walk out with a card they didn't expect to own for some that card will be more than a purchase from a show it will change the complexion of their collection if that happens to you i want you to understand what is going on beneath the transaction because the deal might take ten minutes the consequences can shape the next several years of your collection so let's start with the basic idea your collection is not a pile of objects it's a record of decisions every card says something about what caught your attention what held your interest and what were you were willing to pursue and what you're willing to keep the collection becomes a physical expression of taste this is one reason collecting feels personal even when objects have public prices in a nineteen eighty eight paper in the journal of consumer research russell belk argued that possessions contribute to and reflect our identities he called this idea the extended self the extended self needs to get a shrine in the stacking slabs hall of fame because i think i've referenced belk's work here more than anything else the core point was that the things we own become part of how we understand who we are that maps directly to collecting your cards become evidence of your interest they hold memories they connect you to players teams seasons designs and people they also carry evidence of the collector you believe yourself to be you see yourself as a specific player collector a era collector a set builder a collector of a specific genre those labels help create direction they also influence what you notice if you see yourself as a player collector you scan a show through that identity if you see yourself as a set collector you look for missing pieces the collection does not only show the result of your choices it helps produce your next choice that is why a single card can have so much power the right card does not enter a neutral environment it enters a system of memory standards goals and identity if the card is strong enough it can change the system it's like a shock maybe it's the first major card of one player you bring it you bring it in and it be begins to paint an outline of a new player collection maybe it's the best card you've ever owned you put it next to everything else and realize you prefer depth over volume maybe it completes part of the set that matter most to you you feel satisfaction but you also realize that chase was carrying more of the experience than ownership maybe the card represents a game season or a memory so well that other cards from the same player begin to feel less necessary in every example the new card does more than add one unit to the collection it changes the meaning of the surrounding cards that is why the same card can feel different depending on what sits beside it a card can be the centerpiece in one collection and a placeholder in another it can feel essential at one stage and out of place to the next the card did not lose its history the collector changed i think every meaningful acquisition contains a trade off money spent on a card cannot be spent on another cards traded for one piece cannot remain in your collection attention committed to one direction is attention you cannot give to another that sounds simple it does not feel simple when the decision is right in front of you big collecting decisions are complex because we are not comparing price tags alone we're comparing stories we're comparing future possibilities we are comparing the pain of losing what we own with the excitement of owning what we want research on the endowment effect helps explain part of this in a series of experiments published in nineteen ninety daniel kahneman jack niche and richard thaler found that people often demanded more to give up an object they own than they were willing to pay to acquire the same object ownership changed evidence collectors know the feeling you know that feeling you can look at a recent comp and agree that it reflects the market then someone offers that amount of money for your copy and the number doesn't feel high enough you ask yourself why it's because you are not evaluating a generic copy anymore you're evaluating your copy you remember how you found it how you negotiate it what cards you gave up to make room for it you remember the point in your collecting life when it mattered the market sees a card you see a card plus history attached to owning it the difference is real to you even when it's not it's not transferrable to the next buyer this is why sacrifice changes the experience of a major acquisition when you give up foundational cards you're not moving inventory from one side of the deal to the other you are closing part of your old collection and it can hurt it should hurt if the cards mattered i do not view the pain as proof that the decision was wrong i view it as proof that the decisions contained is a real trade off there's a difference between regret and grief regret says you want to reverse the choice grief says something mattered and is no longer yours collectors can feel the second without feeling the first the distinction has helped me i can miss a card i moved and still believe moving it was the right decision i can be thankful for the years i owned it without believing i need to own it forever i can recognize the utility it gave you the hunt mattered the ownership mattered the conversations it created matter the car did its job inside that version of my collection selling it didn't erase any of that that is where i think a lot of collectors get stuck and you hear a lot of collectors comment online about people selling stuff and they can't believe it that's all bullshit who cares what other people say their opinions don't matter because they have no idea your situation your trade offs the things that you're doing so don't listen to the noise don't care about what other people think what they say or what you perceive they think it doesn't matter they believe a meaningful card must become a permanent card those things aren't the same some cards stay with us for decades some cards help us understand what we want next and both can matter price is not the only thing that makes a card hard to move effort matters too maybe you search forever for the card you be built relationships with people to get the card you sold six cards to pay for it you traveled to get the card maybe you completed a run the work becomes part of the value researchers michael norton daniel mokhan and dan ariely studied the connection between effort and validation valuation across experiments involving assembled boxes origami and lego sets people placed more value on objects they helped create the researchers called it the ikea effect we do not assemble most cards we assemble collections that difference matters the hours spent searching learning negotiating collection your interest in the finished collection you might no longer want the same result but you do not want the effort to feel wasted this is where the sunk cost effect can enter how arcs and catherine bloomer describe the sunk cost effect as a tendency to continue an effort after investing money time or work into it their nineteen eighty five research showed how prior investment can influence decisions even when the investment cannot be recovered in collecting it can sound like this i have already spent five years building the set i have already found twenty three of the twenty five cards i've already put too much into the player collection to change the direction i've already told everyone this is what i collect notice what is missing from each statement do i still want to do it that is the question that matters now the time you invested explains why the collection matters to you it does not decide what you must do next you are allowed to respect the work and choose a new direction you are allowed to finish the set you are allowed to decide that finishing it would serve the commitment you made years ago more than the collector you are today there is zero universal answer that's why no one else's opinion matters you're the ceo of your pc baby block out the noise block out the garbage opinions they don't matter the point is to make the next decision based on what the collection means to you right now not based on debt you believe you owe your past self here is where psychology gets a little more interesting once you make the decision your mind does not stop working on it it begins to organize the world around the choice in a classic nineteen fifty six experiment psychologist jack brim asked people to rate several household products choose between two of them and then rate the products again after making the choice people tended to rate the selected item more favorably and then rejected the item less favorably this became part of the research on post decision dissonance later work has examined the methods behind the original research and found the choice can both reflect existing preference and help shape them the nuance matters we do not enter decisions without preferences but the decisions itself can strengthen the the direction we choose think about what happens after you buy a major card before the purchase you see the reasons to buy it and the reasons to walk away after the purchase you begin to spend more time with the reasons that support that decision you made you research the set the player compare the card to other examples you tell the acquisition story you place the card inside your collection the decision gets stronger because your attention begins to support it that is not always a problem commitment can create clarity the danger comes when clarity becomes rationalization you buy one major card and begin selling everything around it within forty eight hours you decide you are now a one player collector because you spent more than you expected you tell yourself every lower value card is cluttered because the new card needs to represent progress you confuse the intensity of the purchase with the durability of direction that is the stress test did the card reveal a preference that has been growing for months or did the size of the purchase create a need for a new identity those can look the same at first time separates them if the direction still feels right after the emotion settles make sure you pay attention if the direction only makes sense when you keep repeating how big the card is be careful a strong card can become an anchor for the next version of your collection it should not become an excuse to destroy the current version before you understand what you want to build this is a change i feel the most right now the card i bought raised my standard it did not make my other cards worse it made the differences between them easier to see before the acquisition i might have valued a card on its own do i like the design does it matter to me is it scarce is it tied to a player a moment i like after the acquisition another question appears does this card belong beside the direction i'm choosing it's a harder question it turns collection building from a series of isolated purchases into a system one new card can expose three categories inside the collection cards that still matter cards that matter but no longer fit cards you were holding because you had not been forced to make a decision the second category is the hardest those cards are good they have meaning you enjoy them they no longer support the direction you want collectors tend to frame decisions as good card or bad card it's too simple the decision is often fit or lack of fit a card can be great and still be ready to leave your collection a card can carry a story and still fund a card that tells a story better a card can be foundational to the latest version and unnecessary to the next the this does not mean every collection needs to become smaller more expensive or more focused moving up the ladder is one possible direction it is not the definition of progress your new direction might be one player it might be a team it might be cards tied to specific memories it might be fewer cards it might be deeper sets it might be goats it might be more personal the important part is the standard becomes more yours that is what collection evolution means to me it is not a straight line towards higher prices it is progress of getting more honest about what holds your attention when collectors change directions they often rewrite rewrite the past too aggressively they look at a card they love for three years and call it a mistake because they no longer want it i don't agree with that i think a change in direction does not invalidate the road behind you the previous collection gave you information it taught you what you enjoy owning it taught you what looks better online than feels in hand it taught you whether completion motivates you it taught you a lot and that information is part of the return collectors often judge a past purchase by one number did i make money did i lose money financial outcomes matter it is not the only outcome though a card can decline in value and you still and still give you years of enjoyment connection and learning a card can increase in value and still give you an empty feeling if we reduce every collecting decision to the exit price we ignore most of the experience utility value what did the card give you when you owned it did it deepen your connection to the hobby did it help build relationships did it push you to learn did you enjoy looking at it there are so many questions to ask yourself that does not mean you ignore the money it means you measure the full experience this mindset gives me peace when my collection changes i do not need every past decision to fit my current plan i need those decisions to have helped me reach it the card i sold last month can still matter to my story i do not need it in my case to prove that the national is a perfect setting for this conversation because the decision environment is different from collecting at home you're surrounded by options you see cards you've never seen in person you meet the owners you hear the stories you watch the deals happen there is so much going on and the distance between wanting a card and owning it can shrink in one conversation the environment can help you make a decision you have been preparing to make it can also create a decision you did not need to make research in twenty fifteen meta analysis led by alexander shirev found that large assortments are more likely to create overload when the decision is difficult the options are complex the chooser is uncertain about their preference or the goal is to reduce effort choice overload can show up as lower confidence less satisfaction more regret in a delayed decision that sounds a lot like a collector walking into a national walking into the national i should say without a clear sense of what matters the number of cards is not the only problem preference uncertainty is the problem if you do not know what you want the card to do inside your collection every table can create a new direction you can become a vintage collector at ten in the morning and then a goat collector before lunch and then a one of one in the afternoon and a set collector after dinner the cards are doing the thinking for you this is why i do not believe the answer is always a rigid shopping list a list can help and i've talked about that it can also cause you to ignore a card that speaks to a direction you have not considered the better tool is a decision standard you need to know what makes a card belong for me the standard includes questions about connection significance scarcity story and fit the standard might be different the key is to carry it into the room before the room starts shaping you if you find a card at the national or anywhere else that has the power to change your collection there are questions you should ask yourself what does the card express about my current collection do not answer with the price do not answer with rarity alone what does the card say about the collector you're becoming does it deepen the direction that already exists does it connect to a player team moment or category you want to spend years with doesn't represent your taste if you cannot explain what changes beyond the size of the acquisition the card might be a bigger purchase without a better direction the second question what must i give up and am i at peace with that decision if that deal happens name the sacrifice ask what cards you have to give out the third question if the market value dropped by forty percent would the direction still make sense this does not predict the market it removes price appreciation for a minute the fourth question would i want this card if no one else knew i owned it this is one of my favorite tests no social posts no messages no table reveal no reaction from another collector the card goes into your collection and stays private do you still want it the fifth question did the card reveal a direction or am i creating a direction to defend my purchase this is hard look backwards before you look forwards were you already losing interest in part of your collection that's a really important thing to dig into and the sixth question what decisions do i need to make need to avoid making this week a question i'm asking myself and we all moment momentum creates clarity something that we can think about once a card changes the way you see your collection several paths can open you can go deeper on one player the card becomes the centerpiece of your collection the path gives you focus it can also create risk of buying weaker cards because they fit the player the test is whether each edition matters or whether the identity of the player collector begins making the decision for you you can break up a set or run the new card shows the completion is no longer the goal this can free up money and attention it can also create regret if you confuse temporary boredom with lasting change before breaking up the set ask whether you're you are done with the result or tired of the process those are different problems you can decide to collect only the best examples you reach this creates smaller collection with a higher bar it brings clarity it also creates a trap of this endless ladder where every card is feels like a stepping stone this is complicated this is complex i wish this were easier but collecting's hard makes you think i've always viewed my collection as an evolution every version teaches me something every direction has a period where it feels right then something changes my interest knowledge financial situation access my understanding the collection should be allowed to respond i do not want to preserve an old direction because i'm afraid changing it will make me look inconsistent consistency isn't the goal honesty is the goal does the collection represent what matters to me that question keeps my eyes forward it helps me appreciate the past without being controlled by it i can remember the cards i never thought i would own i can remember the people who helped me then i can let parts of it go the experience does not disappear when the card leaves the experience becomes part of how i make the the decision this is why the current moment feels exciting to me i made one decision the decision for sacrifice the sacrifice created space the space made me look at what remained what remained showed me where my conviction is the strongest i do not have every answer yet i do not need every answer yet i have a new standard that is enough to begin if you are headed to the national you might find a card that changes your collection it might be on your list it might be a card you did not know existed ask what the card means beyond the price name the sacrifice separate the path of letting go from regret in the choice test whether the direction survives without market growth or public recognition give the decisions that follow more time than the acquisition itself one card can change a collection it can raise a new standard it can make an old plan feel complete it can give permission to release cards that have already served per it's their purpose the card does not decide the direction for you it shows you a decision is ready to be made that's the opportunity the goal is not to build a collection you once promised yourself you'd finished the goal is not to build the collection another person would respect the goal is not to make every past purchase look correct the goal is to build a collection that reflects who you are now and gives you a reason to care about what comes next sometimes it takes years of collecting to understand this sometimes it just takes one card appreciate everyone for supporting stacking slabs your hobby content alternative safe travels to the national i'm so excited to meet so many of you at the show you all take care talk to you soon