Brickshopper Posted October 4, 2013 Share Posted October 4, 2013 Here is an interesting quote from a website 5 years ago that I agree with very much and wonder what some of your thoughts are. Albeit some on here have such large collections and sell mostly misb so it takes some less time than parting out a set but for the most part arent we all limited by time and space and will find it hard to make millions selling lego. I do make a good living from reselling but do not see a bright future personnaly in Lego no retirement other than my toy stock no benefits and little time off and an ever challenging and ebay marketplace are just some of the difficulties we face... "As someone who actually does buy and sell Legos on eBay and Bricklink, I can tell you this is not the way to become a millionaire. Sure, the economics look good on the surface. However, there are hidden costs the seller incurs. First, one must pay between 8 and 12 percent just in eBay and PayPal fees. There is also a certain time commitment in setting up a listing. Then -- even though the buyer usually pays for shipping -- the seller must spend time packaging and mailing whatever is sold. Plus, one must spend time -- usually a LOT of time -- acquiring inventory (whether by going to Toys R Us or -- more likely -- shopping on eBay). And in order to acquire inventory, one has to know the value of different sets and characters, which takes time to research and become familiar with (and, as one person has commented above, these prices can fluctuate drastically in a short period of time). One has to set aside space for inventory, and -- especially if one has a large collection -- organizing that inventory so that parts can be retrieved in a reasonable amount of time to fill an order. It's all about time, really. Not only does your time have an inherent value that you spend in the activity of selling, time restricts the net amount that you can actually sell. So, no one is getting rich off Legos. I buy and sell Legos because I enjoy the process of putting together sets I wouldn't otherwise be able to afford, and because I'm able to feed my habit by continually accumulating a personal stock from the leftovers of the profitable transactions. So, unless you truly love Lego, I'd not recommend this path for anyone, and I DEFINITELY would not quit my day job to pursue it." written 2008 by Brad Moon 1 Quote Link to comment Share on other sites More sharing options...
justafrog Posted October 4, 2013 Share Posted October 4, 2013 It depends on your definition of "rich". There are always naysayers to claim that selling this or selling that online can't ... ... feed your family ... fund retirement or health care benefits ... make you comfortably off ... make you well off ... make you filthy freaking rich And then there are some entrepreneurs who ignore all that and go ahead and do it anyway. Sometimes, the people who write these things can't do it themselves so they assume no one else can, either. Sometimes, the people who write these things are trying to scare off the competition. All I have to say is, if you want to sell things for a living, including toys, including Lego, then figure out how to do it. No different than deciding you want to be a doctor or plumber or soldier - some will be good enough at what they choose to do well, some won't. 4 Quote Link to comment Share on other sites More sharing options...
Rich B Posted October 4, 2013 Share Posted October 4, 2013 My thoughts are that the quote is about as accurate as it's going to get. Selling Lego does take a lot of time, money, and patience. That is why only the strongest survive in this game. While you don't have to truly love Lego to resell it, I feel the ones that do love Lego and have a passion for it will have a much better understanding and more drive, which will equate to more success over time. 2 Quote Link to comment Share on other sites More sharing options...
Brickshopper Posted October 4, 2013 Author Share Posted October 4, 2013 And then there are some entrepreneurs who ignore all that and go ahead and do it anyway. - some will be good enough at what they choose to do well, some won't. Like this ^ very much wasnt trying to be pessimistic just being limited by the time and a few other difficulties and wondering if any others have encountered some of the same issues. Interesting it was written in 2008 and if this fella had invested heavily in the right sets he very well could have been a millioniare also see above. Really like the response thanks JAF Like your outlook much better! +1 Quote Link to comment Share on other sites More sharing options...
Brickshopper Posted October 4, 2013 Author Share Posted October 4, 2013 My thoughts are that the quote is about as accurate as it's going to get. Selling Lego does take a lot of time, money, and patience. That is why only the strongest survive in this game. Im thinking we can all agree with this... Quote Link to comment Share on other sites More sharing options...
justafrog Posted October 4, 2013 Share Posted October 4, 2013 Well, I am a ridiculous optimist. My husband says not only do I see the glass as half full, but I expect a waiter will be along any time to fill it up the rest of the way. 2 Quote Link to comment Share on other sites More sharing options...
Brickshopper Posted October 4, 2013 Author Share Posted October 4, 2013 Lol Quote Link to comment Share on other sites More sharing options...
Rich B Posted October 4, 2013 Share Posted October 4, 2013 Yeah the fact that he was heavily invested in Lego in 08' is huge. Many were just starting out then. I'm sure he has made some serious $$$ over the past few years. Quote Link to comment Share on other sites More sharing options...
DoNotInsertIntoMouth Posted October 4, 2013 Share Posted October 4, 2013 Yeah the fact that he was heavily invested in Lego in 08' is huge. Many were just starting out then. I'm sure he has made some serious $$$ over the past few years. And then there are some of us who become RICH before we knew about lego. Get it?!?!? And Im out. Quote Link to comment Share on other sites More sharing options...
CelesAurivern Posted October 4, 2013 Share Posted October 4, 2013 The way to getting rich through Lego is not by reselling it. It's by coming up with revolutionary business concepts involving Lego, such as Bricklink, Brickforge, Brickpicker, etc... Then you can feed your families and your childrens' families. Quote Link to comment Share on other sites More sharing options...
segreto Posted October 4, 2013 Share Posted October 4, 2013 There is so much money out there. All you need to do is figure out how to grab it. I started selling lesson plans to teachers online last year. I won't make more than 5k doing it this year, but next year I should double that. And the thing that got me started... I read several articles about teachers who made more than 500k a year doing the same thing. Having a good product and finding out how to sell it are the only two factors important in the formula of getting rich by selling things online. That being said, one either has the perseverance to keep working at it and make it, or they don't and say it's an impossible to do. 1 Quote Link to comment Share on other sites More sharing options...
DoNotInsertIntoMouth Posted October 4, 2013 Share Posted October 4, 2013 Im doing it for fun anyway. I am not worried about getting rich. I just want to have fun, help pay for my habits, and honestly just score deals. I wish someone would pay me to deal hunt all day. So fun. 1 Quote Link to comment Share on other sites More sharing options...
kenchu2000 Posted October 4, 2013 Share Posted October 4, 2013 I don't know, so far I have only managed to make a few hundreds bucks of profit after a lot and a lot of work like driving to Target, Walmart, Kmart, and Lego stores. I could make more if I sell my four 41999s, but I won't do it now. I think my biggest problem is that not only I invest in Lego for resale, but I am also building my own personal collection, and that also costs a lot of money. So the money I have made so far is not even enough for me to add couple of sets to my personal collection. Since I just came back to the Lego scene less than a year ago, so the sets I own are still pretty new. Hopefully I can make a little more a few years later when my current sets retired. Keeping my fingers crossed. Quote Link to comment Share on other sites More sharing options...
pkieu87 Posted October 4, 2013 Share Posted October 4, 2013 I think there are always a few who are in position or have come up with a consistent way to produce income to make a real living from selling legos. Others can make some money off of reselling as a side job. Since getting into Legos this August, my net profit is about 2.5 ***, but that is nothing compared to my actual day job. And of course, 2.5 *** over 3 months is not enough to support a living. But my goal of making a few extra hundreds per month from just selling stuff is a good plan because its a fun hobby, I get to look at new sets and reviews (which I would do anyways), and if I want a set for myself, I'm using Lego profits for it. Quote Link to comment Share on other sites More sharing options...
rcdb1984 Posted October 4, 2013 Share Posted October 4, 2013 I use this as my side job. I travel for my work from office to office. On my way between offices, I have enough time during lunch to drop by a wal-mart or target, and see if there are any deals nearby, and also by using the help from the forums. On top of that, there is the LEGO Shop at Home and I have a lego store by my residence so I can check that out on the weekends. I do this as a side job, and my love of legos that makes it worthwhile. It is a nice supplement, and hobby at the same time. As far as shipping costs go, if you can get deals online, the shipping boxes come to you, and you can reuse them and cut down on costs....If every lego I had got stolen for me without any insurance, I would still be OK. It's more the love of the game. Quote Link to comment Share on other sites More sharing options...
legoman12323123 Posted October 4, 2013 Share Posted October 4, 2013 Here is an interesting quote from a website 5 years ago that I agree with very much and wonder what some of your thoughts are. Albeit some on here have such large collections and sell mostly misb so it takes some less time than parting out a set but for the most part arent we all limited by time and space and will find it hard to make millions selling lego. I do make a good living from reselling but do not see a bright future personnaly in Lego no retirement other than my toy stock no benefits and little time off and an ever challenging and ebay marketplace are just some of the difficulties we face... "As someone who actually does buy and sell Legos on eBay and Bricklink, I can tell you this is not the way to become a millionaire. Sure, the economics look good on the surface. However, there are hidden costs the seller incurs. First, one must pay between 8 and 12 percent just in eBay and PayPal fees. There is also a certain time commitment in setting up a listing. Then -- even though the buyer usually pays for shipping -- the seller must spend time packaging and mailing whatever is sold. Plus, one must spend time -- usually a LOT of time -- acquiring inventory (whether by going to Toys R Us or -- more likely -- shopping on eBay). And in order to acquire inventory, one has to know the value of different sets and characters, which takes time to research and become familiar with (and, as one person has commented above, these prices can fluctuate drastically in a short period of time). One has to set aside space for inventory, and -- especially if one has a large collection -- organizing that inventory so that parts can be retrieved in a reasonable amount of time to fill an order. It's all about time, really. Not only does your time have an inherent value that you spend in the activity of selling, time restricts the net amount that you can actually sell. So, no one is getting rich off Legos. I buy and sell Legos because I enjoy the process of putting together sets I wouldn't otherwise be able to afford, and because I'm able to feed my habit by continually accumulating a personal stock from the leftovers of the profitable transactions. So, unless you truly love Lego, I'd not recommend this path for anyone, and I DEFINITELY would not quit my day job to pursue it." written 2008 by Brad Moon I sell roughly $10k-$15k USD of lego sales on parted out lego sets / sealed sets. I started less than 4 months ago selling on ebay after cashed out all my funds from the stock market (due to the fact its stressful) and used my funds to buy lego inventory (lego is more steady I bet everyone here would agree hands down). So no you are wrong .. you can become a millionaire if you put the work into it. 2 Quote Link to comment Share on other sites More sharing options...
@rtisan Posted October 4, 2013 Share Posted October 4, 2013 I sell roughly $10k-$15k USD of lego sales on parted out lego sets / sealed sets. I started less than 4 months ago selling on ebay after cashed out all my funds from the stock market (due to the fact its stressful) and used my funds to buy lego inventory (lego is more steady I bet everyone here would agree hands down). So no you are wrong .. you can become a millionaire if you put the work into it. Well put. I agree with this. What`s that age old saying, "You can do anything if you put your mind to it. " Think Back the Future for those who are acquainted. I agree that it will be very, very difficult and require tremendous effort, but do not agree with anyone who says it cannot be done at all. It is possible if you are dedicated enough. Well, I am a ridiculous optimist. My husband says not only do I see the glass as half full, but I expect a waiter will be along any time to fill it up the rest of the way. Haha, that`s awesome! Good for you! Quote Link to comment Share on other sites More sharing options...
legoman12323123 Posted October 4, 2013 Share Posted October 4, 2013 Here is an interesting quote from a website 5 years ago that I agree with very much and wonder what some of your thoughts are. Albeit some on here have such large collections and sell mostly misb so it takes some less time than parting out a set but for the most part arent we all limited by time and space and will find it hard to make millions selling lego. I do make a good living from reselling but do not see a bright future personnaly in Lego no retirement other than my toy stock no benefits and little time off and an ever challenging and ebay marketplace are just some of the difficulties we face... "As someone who actually does buy and sell Legos on eBay and Bricklink, I can tell you this is not the way to become a millionaire. Sure, the economics look good on the surface. However, there are hidden costs the seller incurs. First, one must pay between 8 and 12 percent just in eBay and PayPal fees. There is also a certain time commitment in setting up a listing. Then -- even though the buyer usually pays for shipping -- the seller must spend time packaging and mailing whatever is sold. Plus, one must spend time -- usually a LOT of time -- acquiring inventory (whether by going to Toys R Us or -- more likely -- shopping on eBay). And in order to acquire inventory, one has to know the value of different sets and characters, which takes time to research and become familiar with (and, as one person has commented above, these prices can fluctuate drastically in a short period of time). One has to set aside space for inventory, and -- especially if one has a large collection -- organizing that inventory so that parts can be retrieved in a reasonable amount of time to fill an order. It's all about time, really. Not only does your time have an inherent value that you spend in the activity of selling, time restricts the net amount that you can actually sell. So, no one is getting rich off Legos. I buy and sell Legos because I enjoy the process of putting together sets I wouldn't otherwise be able to afford, and because I'm able to feed my habit by continually accumulating a personal stock from the leftovers of the profitable transactions. So, unless you truly love Lego, I'd not recommend this path for anyone, and I DEFINITELY would not quit my day job to pursue it." written 2008 by Brad Moon Good Read .. how many people you think told him he was crazy when he said he could make 1million dollars a year selling used legos ... http://www.huffingtonpost.com/2013/09/27/christoph-bloedner-bricks_n_4005566.html Quote Link to comment Share on other sites More sharing options...
Anakinisvader Posted October 4, 2013 Share Posted October 4, 2013 I was going to be filthy rich selling LEGO until the secondary sellers market went up by thousands. Now I'm only gonna be stinkin rich. 1 Quote Link to comment Share on other sites More sharing options...
legoman12323123 Posted October 4, 2013 Share Posted October 4, 2013 I was going to be filthy rich selling LEGO until the secondary sellers market went up by thousands. Now I'm only gonna be stinkin rich. Dont worry at least 80% of these new sellers wont make it Quote Link to comment Share on other sites More sharing options...
BricksR4kids Posted October 4, 2013 Share Posted October 4, 2013 The way to getting rich through Lego is not by reselling it. It's by coming up with revolutionary business concepts involving Lego, such as Bricklink, Brickforge, Brickpicker, etc... Then you can feed your families and your childrens' families. Met the owner of a little company called citizen brick today at brickcon.. He's seems to be doing pretty well... And it happened in a very short period of time too. I do believe you can make $$ selling lego but you can make $$$$ selling lego using original concepts. We are only limited by our imagination and motivation. Quote Link to comment Share on other sites More sharing options...
Alcarin Posted October 4, 2013 Share Posted October 4, 2013 Im doing it for fun anyway. I am not worried about getting rich. I just want to have fun, help pay for my habits, and honestly just score deals. I wish someone would pay me to deal hunt all day. So fun. Exactly... this is what majority of us can hope for.... Anyone who hopes/wants more than a ''few'' bucks to pay for their own LEGO collection or some parties/bbqs etc. needs to invest relatively LARGE capital into LEGO from start OR really works patiently for a few years in a row.... And he must be American (because of the deals and costs of LEGO) Quote Link to comment Share on other sites More sharing options...
seapotato Posted October 4, 2013 Share Posted October 4, 2013 Agreed with the american part! Their prices definitly can't be beat, especially clearances! Quote Link to comment Share on other sites More sharing options...
Doofy McGee Posted October 4, 2013 Share Posted October 4, 2013 I may not know a lot, but I know this... I am now selling Legos full time, and it is EASILY the most fun and low-stress job I have ever had. I work in my pajamas when I feel the need, I never get stuck in rush hour traffic, I make money by deal-hunting, I never have to cover for or tolerate slacker co-workers, should I go on......? The problem that fuels this whole discucssion thread is that when people use the word "rich," everyone has very different ideas about what that means. Does "rich" mean you need to make six figures a year? If so, you will most likely never get rich selling Legos. Or does "rich" mean that you really enjoy what you are doing even in spite of the fact that sometimes you need to work long hours and deal with missing orders and answer questions about why the whole house seems to be made out of Legos these days...... I am never going to make millions selling Legos, and I am perfectly ok with that. I have been doing this since the end of January this year, and I am constantly finding better ways of selling, better ways to get deals, better ways to sort and organize, etc. I am extremely pleased with my results after only eight months of doing this, and I know it is only going to get better. My profits have been steadily improving, and I have lowered and/or eliminated a lot of different risks. I am on my way to becoming a "rich" man in the sense that I am not going to be stuck working a job I hate for the next thirty years. Life is just too short for that. I love what I am doing, and I have never had a job that I was so enthusiastic about and so willing to work long, tireless hours on. All my efforts pay off because I work hard enough to make them pay off. I don't have some idiot boss who's head is too far up his (expletive deleted) to realize that I am a great worker with unlimited potential and that maybe I deserve a raise and a promotion one of these years. So to all of you who spend far too much time pondering whether selling Legos is "worth" it or not... It is worth it if you decide you want it to be. You can make this whatever you want it to be. You decide what scale you want to do it on, what you want your level of involvement to be. I agree with what a lot of people here have said before me. The naysayers are the ones who didn't figure it out, or didn't stick with it long enough, or are just too negative or scared to put all their efforts into an unconventional business idea. You can do this. Whoever you are, wherever you are. Where there's a will, there's a way. 1 Quote Link to comment Share on other sites More sharing options...
Alcarin Posted October 4, 2013 Share Posted October 4, 2013 I may not know a lot, but I know this... I am now selling Legos full time, and it is EASILY the most fun and low-stress job I have ever had. I work in my pajamas when I feel the need, I never get stuck in rush hour traffic, I make money by deal-hunting, I never have to cover for or tolerate slacker co-workers, should I go on......? The problem that fuels this whole discucssion thread is that when people use the word "rich," everyone has very different ideas about what that means. Does "rich" mean you need to make six figures a year? If so, you will most likely never get rich selling Legos. Or does "rich" mean that you really enjoy what you are doing even in spite of the fact that sometimes you need to work long hours and deal with missing orders and answer questions about why the whole house seems to be made out of Legos these days...... I am never going to make millions selling Legos, and I am perfectly ok with that. I have been doing this since the end of January this year, and I am constantly finding better ways of selling, better ways to get deals, better ways to sort and organize, etc. I am extremely pleased with my results after only eight months of doing this, and I know it is only going to get better. My profits have been steadily improving, and I have lowered and/or eliminated a lot of different risks. I am on my way to becoming a "rich" man in the sense that I am not going to be stuck working a job I hate for the next thirty years. Life is just too short for that. I love what I am doing, and I have never had a job that I was so enthusiastic about and so willing to work long, tireless hours on. All my efforts pay off because I work hard enough to make them pay off. I don't have some idiot boss who's head is too far up his (expletive deleted) to realize that I am a great worker with unlimited potential and that maybe I deserve a raise and a promotion one of these years. So to all of you who spend far too much time pondering whether selling Legos is "worth" it or not... It is worth it if you decide you want it to be. You can make this whatever you want it to be. You decide what scale you want to do it on, what you want your level of involvement to be. I agree with what a lot of people here have said before me. The naysayers are the ones who didn't figure it out, or didn't stick with it long enough, or are just too negative or scared to put all their efforts into an unconventional business idea. You can do this. Whoever you are, wherever you are. Where there's a will, there's a way. While I agree with the bold part, you have to udnerstand you're American (not in a bad way) but you get cheapest LEGOs and not just that, on top of that fact you get the most frequent and BEST deals in the world.... Now sure there is a way for other parts of the world, but the chances are slim and work needed to pull it of doubles atleast... If i just tell you my shipping costs and my LEGO costs you would understand... so the only way for me is 1. I steal LEGOs (lol) 2. I move to different country All I have is occasional ''luck'' with scoring retired products on our toy shop shelves because they are so overpriced they reduce them for 30%+ and I can check their growth and potential before buying them where noone else can in more LEGO oriented areas.... Helm's Deep is sitting on shelf in my city at 139.99 Quote Link to comment Share on other sites More sharing options...
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