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Bricklink/BrickOwl - Discussion, questions, & answers

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Update by jaisonline :

 

Since this thread deals with Bricklink Q&As plus general discussions, I'll be merging (and maybe removing) other bricklink related threads into this one.

 

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Figured there is tons of questions about selling on Bricklink.

 

Does anyone use the 'my cost' slot when adding items for sale, and if so, how do you calculate your cost per piece when parting out a set?

 

Do you just use the piece count divided by price you paid? Or is the 'my cost' slot useless to most?

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I don't use the cost slot, but for purposes of tracking my inventory for tax returns I simply add up the totals of all the sets I bought during the year, and average a cost-per-part from that.

 

For pick a brick wall purchases I could actually come up with a specific cost per part, but since those are a very small amount of my parts purchases it doesn't seem worth it, the cost averaging works well and is very quick, and is fair to both me and the IRS.

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I don't use the cost slot, but for purposes of tracking my inventory for tax returns I simply add up the totals of all the sets I bought during the year, and average a cost-per-part from that.

 

For pick a brick wall purchases I could actually come up with a specific cost per part, but since those are a very small amount of my parts purchases it doesn't seem worth it, the cost averaging works well and is very quick, and is fair to both me and the IRS.

Thank you as you understood exactly what I was asking.  I just wasn't quite sure the easiest way to calculate profit as I have been splitting parts and minifigs between bricklink and ebay. 

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I don't use the cost slot, but for purposes of tracking my inventory for tax returns I simply add up the totals of all the sets I bought during the year, and average a cost-per-part from that.

 

So you don't weight any particular parts as more valuable?  I would think the straight averaging would end up over valuing a lot of parts that will end up just sitting in inventory without getting sold (like your average 1x2 brick) -- which would increase the tax you pay on your standing inventory each year.  Or did you figure it was basically a wash?  Or said to hell with it, you wanted something that was simple and mostly fair?

 

And if you don't mind sharing, are you considering a minifigure a single part or as multiple (head, torso, legs, etc) ?

 

I've been meaning to pin down one of the business or accounting professors where I work, to discuss how an auto scrap yard (legit chop shop) would generally handle things -- since that's was the closest example I could think of to parting out LEGO sets.  But the faculty are a bit slippery to pin down, they're worse than students skipping class when it comes to actually finding them in their offices when they're scheduled to be there.

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I basically said to hell with it, and use the averaging. In my limited BL experience so far, I seem to sell a wide range of "values" of parts, so at this point I'm expecting it to turn out pretty fairly.

 

I do value the minifigs, which I sell mostly on eBay, differently because they're worth so much more in most cases - basically I calculated the value of a set (let's say I buy a set at $30, and between BL and eBay I'll be making $90 on the parts and figs). If the figs are worth $45 of that $90, I'd assign them half the cost of the set ($15 of the $30 spent). If they're worth $30 of the $90, I'd assign them 1/3 the cost of the set ($10 of the $30).

 

In the case of non-licensed and other much less valuable minifigs, I count them like any other single part, just a more "valuable" one (no matter how many parts they're actually made up of, I count it as one part).

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1. If possible, could we get a "Bricklink" section under Buying & Selling like we have eBay and Amazon and such now? I know us parts sellers are a minority here, but doesn't hurt to ask.  :queen:  And whole sets can be sold on BL, too, so it's not quite off-topic even for that.

 

2. Other Bricklinkers: I will be wanting to globally raise my prices as time goes on and my inventory improves and increases. Looking at my inventory page, it looks to me like the last option under "Update My Inventory" is what I want. It reads:

     Increase    Decrease    my cost by % and round results to     2    3    decimals.

 

I know I can just try it out, but I'd rather ask first before pressing any shiny, flashing, scary-looking buttons...

 

Thanks!

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1. If possible, could we get a "Bricklink" section under Buying & Selling like we have eBay and Amazon and such now? I know us parts sellers are a minority here, but doesn't hurt to ask. :queen: And whole sets can be sold on BL, too, so it's not quite off-topic even for that.

2. Other Bricklinkers: I will be wanting to globally raise my prices as time goes on and my inventory improves and increases. Looking at my inventory page, it looks to me like the last option under "Update My Inventory" is what I want. It reads:

Increase Decrease my cost by % and round results to 2 3 decimals.

I know I can just try it out, but I'd rather ask first before pressing any shiny, flashing, scary-looking buttons...

Thanks!

I'll ask Jeff to add one...

Sent from my iPad using Brickpicker

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1. If possible, could we get a "Bricklink" section under Buying & Selling like we have eBay and Amazon and such now? I know us parts sellers are a minority here, but doesn't hurt to ask. :queen: And whole sets can be sold on BL, too, so it's not quite off-topic even for that.

2. Other Bricklinkers: I will be wanting to globally raise my prices as time goes on and my inventory improves and increases. Looking at my inventory page, it looks to me like the last option under "Update My Inventory" is what I want. It reads:

Increase Decrease my cost by % and round results to 2 3 decimals.

I know I can just try it out, but I'd rather ask first before pressing any shiny, flashing, scary-looking buttons...

Thanks!

Great suggestion.

As for raising (or lowering) prices...I believe you are right on he method to do it.

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You full parter outers are troopers. I am starting to get fed up with just parting out minifigures. Can't imagine having to find 50 parts for 10 different people and put them in bags. lol.

 

It's a sort of mental illness, I'm coming to suspect. There's something incredibly satisfying about creating and maintaining a complex inventory of beloved plastic bits.

 

We had our biggest order so far (800+ pieces) yesterday, and found every last one of them quickly and easily, it was pretty cool to see "the system" work on a bit larger scale!

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How many peeps you got finding the parts to fulfill an order?

 

Just Mr. Frog at the moment - he's lead on the LEGO side of the business, I'm maintaining the book business (that feeds and clothes us and keeps us in new video games and diet Coke) this year and I might be able to start actually liquidating it in January 2015 (hoping so, anyway). The LEGO business is reinvesting 100% of its profits for the rest of the year, so we shall see how far that gets us.

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Just Mr. Frog at the moment - he's lead on the LEGO side of the business, I'm maintaining the book business (that feeds and clothes us and keeps us in new video games and diet Coke) this year and I might be able to start actually liquidating it in January 2015 (hoping so, anyway). The LEGO business is reinvesting 100% of its profits for the rest of the year, so we shall see how far that gets us.

You must a have pretty sweet book business. :)

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You must a have pretty sweet book business. :)

 

We do, built up over 16 years with a lot of enjoyment, but we're just tired - books are heavy! And, although eReaders have been slow to affect us, there's every expectation they will over time.

 

LEGO gives us a lot of flexibility between our parts store, our minifig sales, our customs, and even becoming "real investors" of complete sets one of these days!

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It's a sort of mental illness, I'm coming to suspect. There's something incredibly satisfying about creating and maintaining a complex inventory of beloved plastic bits.

 

We had our biggest order so far (800+ pieces) yesterday, and found every last one of them quickly and easily, it was pretty cool to see "the system" work on a bit larger scale!

Exactly, the storage and organization is addicting. Must be a personality disorder. haha

 

I tried the decrease prices by a percentage.  It works well 

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My frustration was trying to find one person with all of the pieces I needed. I found one that had 7 out of 10, but the total came to 57 cents, and the minimum order was$3. The other three parts had to be split among two others.

 

(I realize that my 10 part order isn't hardly worth anyone's efforts)

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My frustration was trying to find one person with all of the pieces I needed. I found one that had 7 out of 10, but the total came to 57 cents, and the minimum order was$3. The other three parts had to be split among two others.

 

(I realize that my 10 part order isn't hardly worth anyone's efforts)

 

Be sure to use the wanted feature if you're not - it will at least make finding that 7 out of 10 guy a lot easier. Unfortunately, it's very rare a single seller will be able to fulfill every part you need, even on a small order. TLG has produced a lot of different parts and color combinations over the years.

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Hi everyone, we officially launched our Brick Link store The Mitten Brick Co. A few weeks ago and have been filling orders since then. If you have a moment to check it out we welcome any and all constructive feedback. It is a work in progress as we have been adding new and used bricks and minifigs daily. Thanks!

Sent from my iPhone using Brickpicker

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