Jump to content

Finally heading into the world of Lego investing !

Recommended Posts

Hi, all !

Been passionately collecting and building Lego sets for the last few years and recently stumbled across the world of investing and potentially making money back from Lego sets ! Now I’m totally new to the investing aspect of Lego so please go easy on me, has anyone got any tips or could point me in the right direction of where I should be looking to improve me knowledge in this area ?

Any replies would be awesome and much appreciated !

Thank You ?

  • Like 1

Share this post


Link to post
Share on other sites

Start reading the forums, "from the beginning"!  ?

In all seriousness.  There's no better way to get acquainted.

  • Like 3

Share this post


Link to post
Share on other sites
7 hours ago, gmpirate said:

Start reading the forums, "from the beginning"!  ?

In all seriousness.  There's no better way to get acquainted.

That I will ! Thank you ?

Share this post


Link to post
Share on other sites

I truly believe that most of us around are just simple dealers, resellers etc.. that is not investing..  that is a pure reselling business with some margin (irrespective if you flip the goods or sell it after two years).. I still consider "INVESTING" as something where you give away money (investment) into something.. that does not give you immediate profit.. like "investing" into Google Adwords campaing "here I am.. with a ton of retired lego sets".. or giving away some cheap polybags in local hospital hoping that the kids when they grew up would remember that and get attached to LEGo sets.. that is "root" investing..:).. 

investment simply should cover more than just "BUY LOW - SELL HIGH". 

  • Like 1

Share this post


Link to post
Share on other sites

Well... I see your point...But then, any buy/hold (even passive stock ownership) is just reselling, the only difference is the time period.  I don't think that is how most people understand the word "investing" But, you may be right on principle.

 

  • Like 1

Share this post


Link to post
Share on other sites

When you say investing, do you mean buying up kits to then sell back "as brand new in box" in a few years for a good markup? Or just selling your old used lego after your finished using it?

Edited by Dave K

Share this post


Link to post
Share on other sites
When you say investing, do you mean buying up kits to then sell back "as brand new in box" in a few years for a good markup? Or just selling your old used lego after your finished using it?


Yes
  • Like 1
  • Haha 1

Share this post


Link to post
Share on other sites
On 1/23/2020 at 1:31 AM, Dave K said:

When you say investing, do you mean buying up kits to then sell back "as brand new in box" in a few years for a good markup? Or just selling your old used lego after your finished using it?

I think most here buy new and hold although there are some that use and sell, and even some that buy used lots or sets, buy the missing pieces (if any), and then sell. Others are in it for the parts to sell on BL. Depends on how much work you want to do. Personally, I don't have any desire to sort out parts for resale so I only buy new.

Share this post


Link to post
Share on other sites
On 1/6/2020 at 10:56 PM, LegoChris11 said:

Hi, all !

Been passionately collecting and building Lego sets for the last few years and recently stumbled across the world of investing and potentially making money back from Lego sets ! Now I’m totally new to the investing aspect of Lego so please go easy on me, has anyone got any tips or could point me in the right direction of where I should be looking to improve me knowledge in this area ?

Any replies would be awesome and much appreciated !

Thank You ?

The Tumbler and Selling Lego on Amazon threads are probably the two best ones to start with.

Share this post


Link to post
Share on other sites
5 hours ago, Brystheguy said:

I think most here buy new and hold although there are some that use and sell, and even some that buy used lots or sets, buy the missing pieces (if any), and then sell. Others are in it for the parts to sell on BL. Depends on how much work you want to do. Personally, I don't have any desire to sort out parts for resale so I only buy new.

I actually enjoy buying and flipping used sets. It gives me a chance to build sets I otherwise wouldn't have bought.

 

On 1/6/2020 at 9:56 PM, LegoChris11 said:

Now I’m totally new to the investing aspect of Lego so please go easy on me, has anyone got any tips or could point me in the right direction of where I should be looking to improve me knowledge in this area ?

My tip is make sure you know where you're going to store sets before you buy them. Space is a real issue.

  • Like 3

Share this post


Link to post
Share on other sites

my only advice is don't look at what our american friends buying prices are & expect them in the uk. 

investing / flipping / dabbling whatever you want to call it is a different game over here.

  • Like 1

Share this post


Link to post
Share on other sites
5 minutes ago, joneyyy1981 said:

my only advice is don't look at what our american friends buying prices are & expect them in the uk. 

investing / flipping / dabbling whatever you want to call it is a different game over here.

There are a number of UK shops whose prices have been much better than a lot of the US deals and on much better sets. Only problem is doing the legwork as the really good deals are hardly ever online now that Tesco Direct is dead and Amazon has less competition.

Share this post


Link to post
Share on other sites

my humble advice - don't think of it as investing where you can click a button to buy and click a button to sell. Think of it as a second job in which you will investing your free time for an undetermined wage.

  • Like 5

Share this post


Link to post
Share on other sites
my humble advice - don't think of it as investing where you can click a button to buy and click a button to sell. Think of it as a second job in which you will investing your free time for UNDER MINIMUM wage.


Fixed that for you.

Share this post


Link to post
Share on other sites
you must be awful at this.

If I counted the amount of “free time” I spent researching, chatting, hunting, scouring websites and forums like these for lego deals, best selling practices, storage and retirement info...
let’s be honest. It’s not free, but it’s a lot of time.
  • Like 6

Share this post


Link to post
Share on other sites

I've made money and lost money at this thing, but this isn't my fulltime gig.  I like to build Lego to relax, I like to collect, and I like to design.  So, I tend to use reselling as a way to increase my collection of sets and loose parts at (hopefully) a net zero cost.  Making money is just a 'thumbs up' if it happens.  It's funny how it can be like gambling at the casinos: you hear a lot about the $1500 won across the night but little mentioned about the $1200 spent to get it (sometimes, the $2000 spent to get it - net loss!).

When I started buying Lego again (4 years ago) after dark ages I basically went to retail sites and filtered to "on sale".  At the time, I was stoked to find 20% off at Target (great deal!).  Then I started watching SlickDeals (which rarely had a post worth looking at).  I also look at the /r/legodeal subreddit thread, occasionally.

When I first stumbled across BrickPicker I was looking for a price guide for some old sets I had.  Then I found the BrickPicker forum which contained tips and tricks and I learned about the annual clearance cycles and everything else fell into place.  I'm not sure if I'm thankful to be enlightened now or not.  I'm too susceptible to the dopamine from the reward-motivated behavior in the hunt and I frequently find myself anxious.  Building Lego is relaxing, it reduces anxiety.  Wait a second... so part of the thing making me anxious is the same thing I use to calm down the anxiety!

Has this hobby/business ever caused any one of you a serious setback in life, whether it be social, psychological, financial, impact to job/relationship, etc.?  There are definitely days where I want to just sell the whole collection, but I do enjoy reading the news about upcoming sets, the direction Lego is going in, and following the trends.  I just struggle because I am an all-or-nothing kind of person; it's hard for me to do things in moderation, but that's just me!  Happy hunting everyone!

  • Like 6

Share this post


Link to post
Share on other sites

I started to write something here, but it became dark pretty quickly. :D 

Just remember this mantra: Buying is easy but selling for PROFIT is hard.  Consistently making the profit is even harder

 

2 hours ago, donbee said:


If I counted the amount of “free time” I spent researching, chatting, hunting, scouring websites and forums like these for lego deals, best selling practices, storage and retirement info...
let’s be honest. It’s not free, but it’s a lot of time.

There is no such thing as free time :D :drag:

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...