I am new to lego collecting. I see people talk about flipping sets such as the tumbler. How is it that anyone can sell an item for above MSRP? I can buy the tumbler from lego shop for 199 and yet someone out there is willing to pay $250-$300 on eBay?

Appreciate the insight.

It's possible.  Happens everyday.  

But who would buy something for over MSRP? Trying to understand the concept of flipping. I can grasp the concept of long-time holds and making money on retired items.

Flipping usually involves Out of stock sets. The tumbler was out of stock during the holiday months. It's simple really don't over think it ;)

Take a minute and think about how dumb the average person is. 

 

Then, consider, 50% of people are even dumber than that.

Edited January 8, 201510 yr by SnowmanOlaf

Flipping usually involves Out of stock sets. The tumbler was out of stock during the holiday months. It's simple really don't over think it

That makes sense. I didn't know that the tumbler had been out of stock. How often do sets go OOS?

I am new to lego collecting. I see people talk about flipping sets such as the tumbler. How is it that anyone can sell an item for above MSRP? I can buy the tumbler from lego shop for 199 and yet someone out there is willing to pay $250-$300 on eBay?

Appreciate the insight.

Sold about 50 of them since they came out. Timing is a factor. As is availability. Also the buyer. 90% of my sales are to exporters. Exporters cant get the quantity through normal online retailers. They will pay over retail as they will export and sell for more in there country. If availability comes around long enough then they will slow down on ebay as well. Still a few sold the last few days in the 250-280 range. You also have to realize most people dont check every website daily to see if its in stock. They go on ebay and see it right there and decide to buy then.

I guess I'm nervous about trying a flip. What if i buy a tumbler but can't get my money back? Guess you sit on it and wait huh?

That makes sense. I didn't know that the tumbler had been out of stock. How often do sets go OOS?

Hard to tell. Nowadays with lego being so popular the good sets will go OOS several times during its availability. What raven said is also accurate.

I guess I'm nervous about trying a flip. What if i buy a tumbler but can't get my money back? Guess you sit on it and wait huh?

You won't lose money on a set like this but it's a waste to try to flip it while it's in stock. Flipping is hard work and requires way more vigilance vs. The buy, hold and wait for retirement model.

I sell exclusives in my country as they are not available I been flipping tumblers , even Ghostbusters for 70% margin after fees...

You won't lose money on a set like this but it's a waste to try to flip it while it's in stock. Flipping is hard work and requires way more vigilance vs. The buy, hold and wait for retirement model.

 

This is what I've personally found, too, with anything I've bought and sold. Now, it might just be that I'm particularly bad at flipping, but in general I'm pretty smart about ways to make money, so it may just be I'm about average at flipping and average doesn't really get you anywhere.

 

Flipping is sort of like day trading on the stock market. A few people have the knack or can learn it and do well overall. Most people don't have the knack and don't learn it, but like gamblers they remember their wins and forget their losses.

 

If you do decide to try it, Copterman, spend no more than you can reasonably afford to set fire to and keep very detailed, very excellent records of every expense including your time. Honesty is the best policy, especially to yourself. If it turns out you're not a flipping savant, move on to something else and don't gamble.

Yup, timing is the key as well as knowing the demand and supply of certain sets and it is obviously easier to flip at Christmas when demand is higher and items go out of stock a lot. Also it is a time when Lego retire a lot of products or at least put them sold out. This year you could make good money flipping star wars stuff like X wings or MF or Friends sets.

 

So far I got burned by the RI and Tumbler by missing the opportunity window but as people are confident that both are good long term investments it is not too bad - it just means having money tied up for longer if the Tumbler retires in 4 years.

I am new to lego collecting. I see people talk about flipping sets such as the tumbler. How is it that anyone can sell an item for above MSRP? I can buy the tumbler from lego shop for 199 and yet someone out there is willing to pay $250-$300 on eBay?

Appreciate the insight.

Lots of people don't even know LEGO Shop at Home does exist.

Take a minute and think about how dumb the average person is. 

 

Then, consider, 50% of people are even dumber than that.

 

 

You are my new hero, can I borrow you as my eBay store's mascot

I had a cinderella castle sit at $109 all christmas (buy in around $50), it just sold last night. Considering sending her one from amazon but I'll send mine

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Some buyers do seem to have smaller cerebrums than an amoeba.  Last year, I saw the turbo-flipping of the 60059 CITY Logging Truck for 2x-3x RRP while LEGO had them in stock at

My lesson, don't wait for your set to get close to your magic number, just list it (ebay) at what you are comfortable with, added to a good till cancelled listing and you are good to go

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Flipping new Lego sets on Ebay is not as profitable as it seems at first glance. Take the example of a $250 Buy it now Tumbler. A Tumbler at retail costs me $214 with tax. If I sell it for $250, ebay takes about $25 in total fees and paypal takes another 3% or $7.50. So I'm left with $3.50 in profit. If you count gas for driving to the post office or the Lego store then you are losing money. I personally won't even list an item on Ebay if I can't make at least $25 clear. It's just not worth my effort or time. And I mean all items. I have sold a variety of general items using online sites; IMO Ebay is by far the most expensive method. But they have the largest audience which in many cases is the best way to get the most out of an item.