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

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

I'm sure the owner of Lego makes good money.

They might be MILLIONAIRES!!! Not sure. Lol

I agree with most of this.  What you need in order is:

 

Determination

An eye for a bargain

The guts to go in big if the prices are THAT good

Patience

Disposable income that you can afford to take a short term hit on

Storage space

 

I also pulled out of stocks recently (cashed in my stocks/shares ISA) which was becoming too volatile so, I've already spent that

All you need is love. Those speculator won't make it far. They need to make quick profit trying to sell it off as quick as possible. They won't be able to wait until the price appreciate for long. They'll be washed out for long term. For me, I invest in lego for collecting lego lol. Eventhough I'm in Australia here, but i'll try to find great deal that will be profitable. I'm happy to keep it for years.  

IMHO buying and selling lego isn't much like work at all. Its a whole lot of fun for me. I love it actually. While I know it might have produced a better return to buy 4 B-Wings from Target instead of driving to different K-Marts, but the hunt is a big part of what makes this fun for me. I don't get the same level of satisfaction from buying something online and waiting for it to show up as I do when I know that I found a great deal on something at a B&M store.

I don't intend to make million here. Just getting the fun out of it. But making a return of 10-20% in stock market is not bad though. 

Yes, the journey to "wealth" has to be enjoyable otherwise, what's the point?

All I'm going to say is that if your adviser tells you to invest in Lego's, get a new adviser.

 

Sad thing is, I am my adviser...

 

 

 

Helm's Deep is sitting on shelf in my city at 139.99

I would never give up my day job even though profit from lego sales is quickly approaching what I make at my day job. I must admit I hate exchanging my time for money so I never hunt for deals instore. I buy soley online. Most of my effort comes from brokering deals with my buyers. I probably sell 90% of my items in asia and they love long and drawn out negotiations. Luckily most of this occurs while I am on the clock at my day job. I don;t ever see becoming rich off lego selling but for right now it remains fun and should allow me to retire 15 years early and keep me busy in my retirement.

I think some people do not understand that when I buy a set on discount inside EU (usually majority of sets see 25% discount) A set discounted for 25% inside European Union usually means it costs about 10-20% more than US retail (save a few exceptions) 

 

So when my fellow American LEGO investor is seeing 20% growth after 1 year I can say I will about to break even ....  

 

Those middle sets are just not worth buying at all...  (Uruk-hai army 39.99

I'm not expecting to get rich from it, however a great piece of financial advice has always been to "monetize your hobbies". Then a drain on your income becomes a contributor. My minimum goal is to make my lego hobby effectively free. That is, all the lego I sell pays for itself AND the sets I actually want to enjoy myself.

 

A recent example is the Goblin King battle that was listed today in Canadian TRU flyers for half off. i bought 2. One for me, one to sell. I will hold the resale one for as long as it takes to double in value (plus ebay fees, etc.), which in this case only has to barely exceed the original MSRP. Once I sell it, the one I keep for me was effectively free. But for such a great deal, I may buy a few more, which when I resell them later will pay for other sets I will buy for my own use.

 

Since I buy and hold sets that I think will double over 5 years, I have some upfront costs. However, I do expect this hobby to be a plus on my personal balance sheet, and not a drain. If I make enough profit, I will tell myself that it is also paying for my comic book hobby, which is a definite negative on my balance sheet.

I think some people do not understand that when I buy a set on discount inside EU (usually majority of sets see 25% discount) A set discounted for 25% inside European Union usually means it costs about 10-20% more than US retail (save a few exceptions) 

 

So when my fellow American LEGO investor is seeing 20% growth after 1 year I can say I will about to break even ....  

 

Those middle sets are just not worth buying at all...  (Uruk-hai army 39.99

To make a $1,000,000.00(US) reselling LEGO sets requires a brick and mortar location and multiple employees.  It also requires that you are a LEGO distributor and get their discounts.  There is no way you can buy enough sets in bulk with the current restrictions to do so otherwise.

For reasons I do not understand, amazon UK gets the best deals on Technic.

 

Other than that, I feel for Europeans.

In US, the Technic line is exclusive to Toys R Us which explains our prices.        IIRC this was a pretty recent change.

To make a $1,000,000.00(US) reselling LEGO sets requires a brick and mortar location and multiple employees.  It also requires that you are a LEGO distributor and get their discounts.  There is no way you can buy enough sets in bulk with the current restrictions to do so otherwise.

 

Buy a time machine and buy 500x 10179s!

I think noone means RICH as millions just Rich enough to retire relatively prematurely (not needing to work 40 years!) thats what I would call rich already haha....

 

 

Basically I can live with 850$ a month in my country so thats all I would need to make monthly to live relatively comfortably (that is without rent)

Buy a time machine and buy 500x 10179s!

yeah LOL

I think noone means RICH as millions just Rich enough to retire relatively prematurely (not needing to work 40 years!) thats what I would call rich already haha....

 

 

Basically I can live with 850$ a month in my country so thats all I would need to make monthly to live relatively comfortably (that is without rent)

It's all relative.  To me and my James Bond lifestyle, 100 million would not be enough.

Same here, I'm not too greedy.  I just want to supplement my main income, finance my hobby and top up my pension when the time comes.

It's all relative.  To me and my James Bond lifestyle, 100 million would not be enough.

 

Yeh it is relative indeed

 

However only an utopia dream man woudl expect 100 million net profit from LEGO sales  

Most of my effort comes from brokering deals with my buyers. I probably sell 90% of my items in asia and they love long and drawn out negotiations. Luckily most of this occurs while I am on the clock at my day job.

 

Do the Asian buyers contact you through eBay?  Are they the ones who ask for large quantities at ridiculously low prices?

To make a $1,000,000.00(US) you need to spend a $1,000,000.00(US).....

To make a $1,000,000.00(US) you need to spend a $1,000,000.00(US).....

This is true.