I never FoMO on modern cards, but I do believe that a certain amount of FoMO has become present in the vintage and more high end side of the hobby due to its rapid growth in the past few years.
I brought this up recently in another thread and it works here as well. For me there is so much I love and want to own in this hobby that I can’t just buy whatever I’m feeling like all the time with no thoughts on the greater picture. This is because at least with my current capital I need to optimize my purchases in the long run to have the best chances of getting everything I want to get. If I don’t buy certain cards before others they could become out of reach later and that is where I think the FoMO of these older/high value cards comes into play.
I’m a buy what I like collector for life, but sometimes I need to buy cards I like just less than others as I’m not worried about getting the card I like more in the long term as much as its competition in this case. An example being yesterday I had a bit of money for cards and I was deciding what to buy. I was thinking either an ex PSA 9 or a palace belt PSA 9. At first I was really thinking the ex card, but I figured that in the long run I would have more of a likelihood of getting the ex later over the palace belt, so I went with that and I’m actually really happy with my decision. It was a lower value decision, but I’ve also dealt with this on cards at $1000+ and can imagine this optimized decision making process is at even higher prices as well.
I’m doing my best to get every card I want in the hobby and taking risks to do so. Yes I do believe it stems from FoMO, but that’s pushing me to take risks, use my knowledge, and grow in the hobby I love so much. In the end, though I think FoMo permeates certain areas of the hobby and cause us to not be able to just buy everything we want in whatever order, it can be used to our advantage and even bolster us up if we use it right.
I think it can definitely have an impact at times, however, it becomes pretty apparent as well the longer you’re in the hobby. For example, when Logan Paul came around, I absolutely refused to buy into vintage WOTC during the short term because I could just sense the FoMO all around that was not going to last forever. So to me, it all just comes in these waves and cycles, and you have to be just patient with it all as hard as it can be.
I see similar trends happen with other eras as well. For example, I’ve seen a bit of run into S&M era cards/sets and other pre-2020 products the past while. But, not only do I only collect a small amount from this era, but I know inherently I’ll get many more chances to buy and collect cards from there as well when I’m ready, just like with vintage WOTC.
tl;dr: Collect what you enjoy, for a price you are willing to pay, and don’t worry too much about it. At the same time, when FoMO occurs, just be patient, because you’ll most likely get another chance along the way regardless of the FoMO that happens as you collect.
Collect what you like was a genuine advice like 3-4 years ago, nowadays everything is at the risk of exponentially growing in value in relatively short term period.
Maybe i was interested in a card that was $20 and now is $150, 150 is not a lot but is way way way more than the $20 i was willing to pay at the time.
Overall it is more stressful to collect right now vs some years ago even if you decide to go to and collect the cheaper stuff there’s always a looming “fomo” on the horizon.
I think FOMO can apply to many things but I wouldn’t say it only applies to new collectors.
I’d say my FOMO was definitely heightened after Evolving Skies came out. As an Umbreon collector I got a couple of VMAX alt arts fairly early on for ~£150 (180USD)… I thought I might even get a few more, but there was no rush… fast forward and now its ~500 USD per card. So in short, I didn’t get burnt in this instance, but I can see how it could happen, which creates a element of FOMO for future releases.
For me it’s not the fear of missing out… It’s the fear of when is the right time to buy… will the card go to the moon and make it unobtainable… or am I buying the card when it’s in the hype and I’m massively over paying. I only have a limited budget after all… and I would guess that anyone who has won the lottery doesn’t feel FOMO at all.
With all the replies here focusing on the personal impact of FoMO, it’ll be interesting to see if opinions change as scalpers are hampered by new approaches by retailers to limit it. OR if retailers don’t limit scalpers’ access, we can only wait to see if FoMO takes hold for more people. Personally, I like to keep things around that remind me of those few times I FoMO’d or gambled, and it bit me.
Keeping a good sense of what truly matters in life is important. But I truly worry that for my kids, for example, when they start collecting things. If scalpers and bum-rushing artists at signings has not been figured out (already great progress in the latter), newer collectors will have their spirits dowsed by things we never had to deal with in the early 2000s and before.
I’m not really involved in the FOMO part of the hobby which is essentially modern other than that of a passerby observer on a train. I’m not convinced this level of FOMO is permanent or sustainable though. I think it was good during the boom and overall positive in that it shows genuine popularity of Pokemon. But as @smpratte has said many times and I agree with him, Pokémon has an immaturity problem. I think or hope this will level off with time with pokemon being closer to sports in terms of how people approach new releases in general.
I think FoMo and the monetary side of the hobby in general has had a net negative impact on my enjoyment of the hobby— undeniably so. It has made managing emotions and general enjoyment of the hobby something I have to intentionally focus on and address. Theres been many times where ive really had to stop and think. Not necessarily about a specific purchase, but about my attitude and relationship with the hobby as a whole. This hobby causes me more stress and anxiety than it ought to most of the time.
That being said, I dont think this is permanent. I think right now is just a moment in time. The reality is, at least for me, I need to spend more time undoing some of the unhelpful thinking patterns that i developed during 2020. I need to spend more time really considering what im doing and how to enjoy the hobby in a way that makes me the most happy. I need this because of the situation in collecting nowadays. More than one ‘negative’ way to participate in the hobby exists now for me; that is, ways that make me unhappy. Ive realized that more financial incentive in the hobby has led to this. Not to mention, stress outside of the hobby, in the world. The hobby has become a getaway source of happiness from the outside world. In addition, its become a possible way to make a living. I think ive been putting too much weight on the hobby. I want my whole world to revolve around cards; i want to do this as a job! This puts pressure on my hobby. Everything that happens is now 10x more stressful and anxiety inducing because now, my future is at stake— Ive put so much time and money in that if something goes wrong, the stakes are way higher. Because of this, ive also become unmotivated to pursue other ventures or jobs in my personal life— why would i? This is what im doing, right?
Ive recently realized that ive kinda unconcsiously been doing this and its been making me very unhappy in the hobby. I am posting all of this because i think this is related to the topic. These things have increased my fomo so much, to the point where missing something feels detrimental. And with the way things have been the last few years, i will absolutely miss things. I wonder if im alone in these feelings. Its taken a lot of time and introspection to come to these realizations. So, yes, fomo has severely impacted the collector experience for me. But, i dont think its permanent. I think things will be okay. It just takes more time and energy to participate in a way that makes me happy and i think the same can be said for others. For me, im gonna try to chill out a little bit and step back from all-in style collecting. Gonna spend some more time focusing on my personal life, career, happiness, separately from collecting and whatever happens in the future happens.
Sorry for dumping, just wanted to get my thoughts and feelings out!
Thanks for sharing this, @needszeebs. It sounds like time away from the hobby may be beneficial for your mental health and general outlook. Hobbies are supposed to be fun and enjoyable. When it crosses into stress, anxiety, and pathological worry, one must consider stepping back and refocusing. There is nothing wrong with brief or lengthy hiatuses from the hobby - we aren’t going anywhere and neither are the cards.
I hope that these negative experiences wash away for you in 2023.
Echoing what @Dyl said, I had to step away from things for a few months fall of 2021 to regain perspective in the hobby.
That helped me think more about the other things I enjoy doing in life that aren’t cardboard related.
This next piece may or not be for you, but when I came back I began the process of refocusing my collecting goals, and sold off a lot of what didn’t fit into my new plan to regain some of the money I’d spent recently. That helped loosen the financial “burden” for me, and helped rebalance my net worth spreadsheet to a point I was more comfortable with.
Hope you are able to get where you need to mentally. Pokemon will still be here when you get back if you decide to step away, and anything you “miss” will not be worth the improvement in mental health stepping away will provide.
I agree, with the caveat that as long as product can be produced, there is a risk for scalping/shortages, but I expect that as the hobby matures, members will realize the harm that engaging with scalping/FoMO causes. We are at a critical point in the hobby’s development, and while I do fear a lasting impact from scalpers, I also expect those of us who stick-it-out, to come out stronger and wiser to it.
Oooo, THAT’s an interesting thought. I’ve done some study re: the impact of socials and the internet in general on young people (because I teach kids), so I wonder, connecting everything, are you suggesting younger people who have been “infused” with social media in their life are more susceptible to FoMO/worry because of the instantaneous and often superficial nature of today’s world?
I’m not sure that those who partake in scalping care at all about how it affects the hobby. As long as there is money to be made in Pokemon, there will always be a crowd trying to make it.
It is not only modern, vintage japanese, some wotc cards, some ex, etc.
I do not buy modern or barely. Like i mentioned, couple of years ago you could just go and collect other stuff, these days everything is at risk of fomoing. You need to dig even deeper to collect stuff that you might or might not like as much, for some this is going to be an awesome ride for other a total turn off. Of course there’s always new cheaper cards but you gotta dig deeper.
I would dare to say everyone or almost everyone would agree it is way more competitive nowadays than it was some years ago.
