Hello! Just wanted to introduce myself. I am 22 years old out of Toronto, Canada. I have recently rekindled my childhood love for lego and new to the secondary Lego market. I plan to go to school in September for a business degree and I figured this would be a good way to help pay for school, get some entrepreneurial experience, and it would be a fun hobby as well. I stumbled upon this:

 

http://www.ehow.com/how_5141645_make-money-selling-legos.html

 

I've decided I am going to try and emulate what this guy was able to do. So any guidance anyone has on how I would be able to accomplish this would be greatly appreciated!    

Never in my life would I thought the day would come that I actually get to say this.

Welcome, Batman.

Welcome to Brickpicker!!

Hello...

Welcome and enjoy the forums.  Nice to have another Canadian, local GTA member too...when you decide to flip sets don't list too low ok   lol

Welcome to Brickpicker, Batman!  I think I saw you in this video...

 

Welcome to BP!

When Batman moves to Toronto then the end is nigh!

 

 

...Welcome!

Welcome fellow Torontonian. First rule, as a sign of respect to your elders, is to stay out of the Targets, Walmarts, and Lego stores that I frequent. You can start as a Toys R Us journeyman and work your way up from there over time.

 

But seriously, now is an especially good time to get into this in Canada in general and Toronto in particular. The lower dollar means we can actually compete with the Yanks on price when selling, while Toronto has the best concentration of Lego retailers in the country.

 

My advice is to figure out which themes you want to concentrate on and then figure out how much time you have for this. If you don't have a lot of time, I say stick to more expensive and larger sets (like Haunted House, Super Star Destroyer, the various modular city sets, etc.) as this requires less time and effort buying and selling, plus these sets tend to be unique and not likely to be reissued in future. The sweet spot for most sets is 2-3 years after a set has gone end of line (EOL, ie it is no longer in stores). Many sets will have doubled in this time. If you have a few hours a week for this then smaller sets are worth exploring, especially if you can find them on periodic discount. 

welcome..........Batman.

The resources you'll find on this site as well as the endless wealth of information you can obtain from the members here will far outweigh ehow's recommendation of how to sell legos.

many members use bricklink and many do not.

As Jeff_14 said it's all about how much time you have to put towards your new hobby/business venture.

 

good luck.

Thank you everyone for the warm welcome! And I appreciate the advice jeff_14. I definitely have time to put into my new found hobby/business. I would like to explore opportunities in short term and long term investing. The main themes I'm looking at (for short term investing) is the super heroes series and maybe star wars as well. I was wondering what would be the best approach for handling these smaller sets. Should I separate the minifigures and sell the set without them and sell the figures separately?

Also would the spiderman daily bugle showdown be a good set to invest in for either short term or long term?

Also would the spiderman daily bugle showdown be a good set to invest in for either short term or long term?

Hard to say. It's pricey at $60 and the only unique mini-figs of worth are Dr Doom, Nova and maybe Jameson. Maybe worth a gamble if you can find it on discount somewhere. This is the sort of set where I wait for Walmart or Target to clearance them at 50% off in the summer.

Welcome Batman!

Thank you everyone for the warm welcome! And I appreciate the advice jeff_14. I definitely have time to put into my new found hobby/business. I would like to explore opportunities in short term and long term investing. The main themes I'm looking at (for short term investing) is the super heroes series and maybe star wars as well. I was wondering what would be the best approach for handling these smaller sets. Should I separate the minifigures and sell the set without them and sell the figures separately?

That really depends on the set from what I've read. Haven't done that myself but sets like the Super-heroes lines are good for this given the number of unique mini-figs in some sets. Take the retired Wolverine Chopper chase as an example. It retailed up here for $25. You could probably sell each of the 3 mini-figs (Magneto, Wolverine, and Deadpool) for $12 a figure or more, and maybe get a few bucks for the chopper. There is a new set with a different Wolverine and Magneto that has impacted this set's worth a bit, but I sold 4 the other month for $65 USD each. That's a 200% return in a few months after conversion.

 

For Star Wars, I'd aim for sets based on the original trilogy. The second trilogy and clone wars sets don't typically appreciate as much. Large unique sets like the R2-D2, the Ewok village, Super Star Destroyer (going fast right now as it seems to be at its end of line) are worth a look. Just about any large Star Wars set has done well. Some people will knock the ultimate B-wing and ultimate Obi-wan starfighter but I picked these up at a 50% off sale and easily sold them for double the money (ie original retail price). The one big caveat is the Death Star. It has been on sale now for like 7 years and shows no signs of stopping. Most investors already have lots, and most potential buyers likely have them as well.

That's awesome. I really appreciate the help jeff_14. So how is it that you handle your smaller sets? Do you part them out or just wait then flip the entire set?.. I'm embarrassed to ask but what does part out actually mean. Is that selling it brick by brick? And is there a guide on how to part out sets? As you can see I'm very new to this industry and I will be searching the site/forum for info, I just figured since you are helping me now I would ask a few simple questions lol.

That's awesome. I really appreciate the help jeff_14. So how is it that you handle your smaller sets? Do you part them out or just wait then flip the entire set?.. I'm embarrassed to ask but what does part out actually mean. Is that selling it brick by brick? And is there a guide on how to part out sets? As you can see I'm very new to this industry and I will be searching the site/forum for info, I just figured since you are helping me now I would ask a few simple questions lol.

 

There are no stupid questions on here, especially from someone new. I think there are guides on various topics available on here including parting out, as well as good articles as well.

 

I've never parted out a set myself. I am typically confident in the sets I choose having great overall value and can't be bothered to part out. You can sell them brick by brick. I've seen ebay sales for certain pieces. A lot of people here also use a site called Bricklink where they maintain lists of pieces for sale and sell them as people come looking. For most people, parting out means selling the main completed parts of a set separately, like minifigures and vehicles and buildings, etc. The Wolverine example I mentioned is a good one as you can sell 3 different figures and a vehicle, possibly in 4 auctions as opposed to 1 auction for the whole set.

 

My preference is to buy and sell whole sets. Being in Canada our retail prices are always higher than in the US, but if you're patient you can be rewarded with sales that are just as good as down there. I usually only buy from themes I am familiar with and believe will do well (Star Wars, Super-heroes, Lord of the Rings, etc) but if I see a good enough sale on something I am open to opportunities as they arise. I have almost all of the Lone Ranger theme even though it was a dud because I got the sets for 50% off at Target last summer. Same with Monster Fighters. I also justified these purchases as potential personal enjoyment as I like having historical sets. If I'm truly wrong about a set, then the worst case scenario is that my son and I have some cheap lego to add to our playroom.

 

Another useful thing to figure out is which sets are exclusive to the Lego store/website (ie not for sale at Toys R Us, Walmart, etc.). These sets (like the city modular buildings such as Town Hall, Paris Cafe, etc) will rarely if ever be on sale since Lego itself seems to be philosophically against the idea. However they do have a VIP membership program where you accumulate points at the rate of 5% of your purchases. A couple of times a year they will have 2x or 3x VIP points events where you get effectively 10-15% in points accumulation so this is often when people buy their exclusive sets. My suggestion if you really like Lego and/or want to invest is to get a membership to the Legoland indoor park in Vaughan. It costs like $70 for the year and you get 10% off everything in their Lego store. Every day. They also seem to be better stocked than regular Lego stores on premium and rare sets. Take the Mars rover set that came out for $40 a few months ago and has already disappeared. Lego itself restricted sales to 2 per customer at its stores and online. However Legoland is operated independently under license and had no restriction. So rather than facing limits and only 5% back in points at normal Lego stores, you could walk into the Legoland store and buy as many as you wanted and at 10% off immediately. I'm still kicking myself for walking by the stacks of these in February and only buying one.

I really need glasses.  I thought the title said "Hello from TONTO".

 

I really need glasses.  I thought the title said "Hello from TONTO".

 

Tonto say, get eyes checked kimosabe

I was wondering what would be the best approach for handling these smaller sets. Should I separate the minifigures and sell the set without them and sell the figures separately?

That's what I do.  For the Cloud Cuckoo Palace, I sold Emmet and Wyldstyle together and saved on shipping.  Got a good price for them, to.  You can read about it here.... just a warning though: I did not know much about shipping back then and the prices are cheaper than they should be.  If you want to find all of my errors, just read all the comments.

That's what I do. For the Cloud Cuckoo Palace, I sold Emmet and Wyldstyle together and saved on shipping. Got a good price for them, to. You can read about it here.... just a warning though: I did not know much about shipping back then and the prices are cheaper than they should be. If you want to find all of my errors, just read all the comments.

Thank you for the advice Noodlenut.

I have a few large sets I'm looking at investing in long term. Which ones would be best? Tower bridge, haunted house, r2-d2, ewok village? I'm at a store right now lol

Also I just learned how to quote. I'm new to the whole forum thing

Thank you for the advice Noodlenut.

I have a few large sets I'm looking at investing in long term. Which ones would be best? Tower bridge, haunted house, r2-d2, ewok village? I'm at a store right now lol

Also I just learned how to quote. I'm new to the whole forum thing

All the ones you mentioned are great options, but you will have to wait longer for Ewok Village to make you money.  See if the store you are at has the Super Star Destroyer or Grand Emporium.  Those are probably the best options right now.

All the ones you mentioned are great options, but you will have to wait longer for Ewok Village to make you money. See if the store you are at has the Super Star Destroyer or Grand Emporium. Those are probably the best options right now.

I see. Thank you for your help. I ended up picking up the Grand Emporium, r2-d2, and tower bridge. Does this mean I am now officially a lego investor? Lol

I see. Thank you for your help. I ended up picking up the Grand Emporium, r2-d2, and tower bridge. Does this mean I am now officially a lego investor? Lol

You are on your way. I don't have a stock of those particular sets yet...

You are on your way. I don't have a stock of those particular sets yet...

What sets do you currently have?

 

 

There are no stupid questions on here, especially from someone new. I think there are guides on various topics available on here including parting out, as well as good articles as well.

 

I've never parted out a set myself. I am typically confident in the sets I choose having great overall value and can't be bothered to part out. You can sell them brick by brick. I've seen ebay sales for certain pieces. A lot of people here also use a site called Bricklink where they maintain lists of pieces for sale and sell them as people come looking. For most people, parting out means selling the main completed parts of a set separately, like minifigures and vehicles and buildings, etc. The Wolverine example I mentioned is a good one as you can sell 3 different figures and a vehicle, possibly in 4 auctions as opposed to 1 auction for the whole set.

 

My preference is to buy and sell whole sets. Being in Canada our retail prices are always higher than in the US, but if you're patient you can be rewarded with sales that are just as good as down there. I usually only buy from themes I am familiar with and believe will do well (Star Wars, Super-heroes, Lord of the Rings, etc) but if I see a good enough sale on something I am open to opportunities as they arise. I have almost all of the Lone Ranger theme even though it was a dud because I got the sets for 50% off at Target last summer. Same with Monster Fighters. I also justified these purchases as potential personal enjoyment as I like having historical sets. If I'm truly wrong about a set, then the worst case scenario is that my son and I have some cheap lego to add to our playroom.

 

Another useful thing to figure out is which sets are exclusive to the Lego store/website (ie not for sale at Toys R Us, Walmart, etc.). These sets (like the city modular buildings such as Town Hall, Paris Cafe, etc) will rarely if ever be on sale since Lego itself seems to be philosophically against the idea. However they do have a VIP membership program where you accumulate points at the rate of 5% of your purchases. A couple of times a year they will have 2x or 3x VIP points events where you get effectively 10-15% in points accumulation so this is often when people buy their exclusive sets. My suggestion if you really like Lego and/or want to invest is to get a membership to the Legoland indoor park in Vaughan. It costs like $70 for the year and you get 10% off everything in their Lego store. Every day. They also seem to be better stocked than regular Lego stores on premium and rare sets. Take the Mars rover set that came out for $40 a few months ago and has already disappeared. Lego itself restricted sales to 2 per customer at its stores and online. However Legoland is operated independently under license and had no restriction. So rather than facing limits and only 5% back in points at normal Lego stores, you could walk into the Legoland store and buy as many as you wanted and at 10% off immediately. I'm still kicking myself for walking by the stacks of these in February and only buying one.

 

So I have to correct some info from the above post. Having been to Legoland the past weekend I can say that they are now following Lego dictates and not offering the 10% discount on exclusives (ie Ghostbusters) or very expensive sets (Death Star, etc.). In which case I would only recommend going there for rare sets that they have in stock, like the Ghostbusters set that seems to be sold out at GTA lego stores but was very available (about 50) at Legoland.

 

This also negatively changes the value of getting a membership. The $60 annual cost could be made back just by buying one Super Star Destroyer or Death Star, for example, but no longer. If you're getting a pass for personal enjoyment then carry on, but the buyer's value of the pass just took a major hit. Better to buy at the Lego store and get the 5% discount (or greater) in VIP points.