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went crazy at Target after xmas clearance and bought like $2k worth of inventory. now having buyer's remorse and afraid to hold on to everything long term. can anybody reassure me and/or buy everything from me lol? (not everything is pictured, some stuff i want to keep for personal use)

 

ebay lot.jpg

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Just now, exciter1 said:

Does it reassure you that some spent more than that today?

i mean, yes and no. i'm brand new at this and i didn't pay cash (big mistake, i know) and i don't have an FBA account or much eBay feedback. tried listing on facebook marketplace but few biters and scared to HODL lol

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Here’s the hard truth: Most of the sets you bought aren’t going to make you any money, short or long term. Sure you might find a couple buyers locally, or make some sales on eBay, but is it really worth it to have $2k of debt for however long just to possibly make $100 profit? Is it worth your time and the stress of the debt and the hassle of packaging and shipping and storing these things?
I’m saying this from experience. When I first started “investing” in Lego I bought similar type sets. Years later I still have some of them because they’re just not worth my time to even attempt to sell. I’ve since learned a lot more about what sets to buy and when and for what price. And more importantly I’ve learned what sets to leave on the shelf. Sure 70% off a Lego set seems like a great deal and usually it is, but not always.

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Here’s the hard truth: Most of the sets you bought aren’t going to make you any money, short or long term. Sure you might find a couple buyers locally, or make some sales on eBay, but is it really worth it to have $2k of debt for however long just to possibly make $100 profit? Is it worth your time and the stress of the debt and the hassle of packaging and shipping and storing these things?
I’m saying this from experience. When I first started “investing” in Lego I bought similar type sets. Years later I still have some of them because they’re just not worth my time to even attempt to sell. I’ve since learned a lot more about what sets to buy and when and for what price. And more importantly I’ve learned what sets to leave on the shelf. Sure 70% off a Lego set seems like a great deal and usually it is, but not always.


Are you saying that specifically based on what you see in the photo I posted or as more of a general guidance? It seems the former. What would you keep and what would you return?


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If I am seeing correctly you have a White House in there.   Those will sell fast if can list with amazon.   Even on eBay should do fine.    The brickheads in my opinion are garbage. Great gifts but I personally want nothing to do with them.    

 

I have bought many many sets over the years and have only lost on a few.  The problem you have is time.  If paid cash no big deal but since you do the credit card (unless paying it off right away) you are eating big into your profits.   Figure out which sets you can sell ASAP and get some return and return the rest.    

 

Trust me there will will be many sets that go on sale and tons of winners ahead.  You don’t need to jump all in with a hope and a prayer it works.  

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Let’s take the batman clayface set for example. What’s the highest price you see it getting to in a year? In 3 years? Maybe $50. You probably paid $17ish. If you sell on eBay for $50,then subtract shipping, fees, and your buy in price, you’re left with like maybe $15. Is it worth it to you to hold that set for that long to hopefully get 15 bucks?

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Just because it is cheap, doenst mean its a good investment, buying on credit without the cash is a sure way to financial ruin.  This applies to most bad debt.  I did that early on as well and returned everything to Wal-Mart 5 to y years ago.  Since then, my average realized return is 105% net.  So this game works but requires due diligence like any investment approach.

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I believe money can be made on any set, but some take more time or make much less. Some of us are happy with $5-10 profit while others have higher expectations. There's a lot of personal preferences involved. I've been one of those happy with a few bucks here and there, but am still slow to learn that a lot of it isn't worth my time (like @Clintonjoseph is saying). It's still more fun than the day job, but it's not enough to replace it. :)  Truly worst case, I don't see how you couldn't at least break even, so I wouldn't sweat it unless you're needing the money back asap.

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In all seriousness, there are a few basic rules-of-thumb that most everyone here follows:

1. have a plan

  • set a budget of how much you are willing to spend in acquisition (per week/month/etc)
  • have a strategy for how long your hold time is, what your ROI is, and how to sell it.
  • stick to targeted sub-themes that you know, understand, and trust. 

2. test the waters by starting out small

3. don't leverage credit unless you have both of the above in place.

Buying is the easy part.  Selling is much harder.

For me personally, my hold time is 12+ months, and my target ROI is 2.5x purchase price.

So, as an example, the super hero high set has been at 30-50% off consistently this holiday season.  After it goes EOL, I think it will be lucky to see 2x the on-sale price within a year: so maybe $80-100.  For me, based on my strategy, it needs to be $32 or less before I'll be interested---60% off MSRP or better.  But even if I picked it up at 70% off, it's likely to be a slow seller.  So, too much risk and there are likely better pickings available.  For example, earlier this evening 41125 Horse Vet Trailer came back in stock on amazon at MSRP.  If you are looking for a quick flip, that would be easier to sell on facebook in a week or two at 50% ROI than any of the 70% off sets listed in the picture. 

Looking at Dr Strange as an other example:  It's been talked about here a lot,  which implies its been hoarded---lots of competition to sell once it disappears. I have little confidence in Super Hero sets---the theme is too dilute to catch long term interest---which is also a knock on it.  (that said, I have a few.  But I paid cash, so I'm OK to hold for 12+ months or so to see what happens with it.)

The VW Bettle is a good choice for a long term hold, but your win/lose threshold will depend on your buy-in.  Again, assume that the competition is picking it up at a 30-50% discount.

If all of this was bought on credit and you haven't tested the waters yet, I recommend taking most of it back.   Start small, and use your profits to grow bigger.

 

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This game is about patience just know you might get about MSRP in a year so it might not be worth it with all the interest that accrues if you bought that on credit. Me I'm happy if I double my money.

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Posted (edited)

I'm pretty new to this and I've spent around £1000 on Lego in the last month but I've paid with cash and I have 30 day receipts for some and 90 day receipts for others and I'm constantly evaluating the stock I've bought. I took a few items back in my very early days once I'd started to learn which sets would be desirable.

I am 100% sure that if I ever needed that money back I could list all my stock at RRP and sell it pretty quickly if I need to get out and no lose any money. I've sold about 5 sets on Facebook and am starting to list on ebay now too as some of the stock I have has started to sell significantly above RRP.

I've invested in mixture of quick flip sets and long term hold sets usually at around 30% off

As others have said, take your time, start slow. Even the experienced people on here will lose money on certain sets but they can absorb the hits because they've got larger inventory's to fall back on and their winner sets will cover any loses.

If something has not sold in the shops at 70% off, why would they seek out to buy it from you at 30% off to RRP price?

Good luck with it all but I'd take that lot back and re-evaluate. There's some really nice people on here who will help you out I'm sure.
 

Edited by richiej1979
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Posted (edited)

The advice always given is to start small, practice selling, and then decide how to proceed.  I got my start 2+ years ago flipping Jurassic World before Christmas 2015.  I learned about shipping, selling on ebay, and started buying in the post-holiday Walmart sale.  Some have done well and I've sold through (Ghost, Phantom, B-Wing), while my AT-DPs don't even move on Amazon.  It's easy to get caught up in the buying frenzy you see on here, but you will learn there is some new clearance sale on sets you like every few weeks.  Other than a few rare instances of pricing errors, you won't be missing much.  Here is one opinion, but there are many:

Keep the X-Wing/Kylo Shuttle (if bought 50% off or better) and try to sell this year once stock dries up at retailers and prices start climbing.  Keep the Elves and HL Riding Club.  Sell the White House now.  Everything else goes back except:  keep a few things you got for 75% off and try to part out the vehicle/figs.  You need ebay feedback and practice.  Also, open a BL store and practice selling there.  This is low-profit/time consuming, but you need to figure out if you like doing this and if you can find a niche that you enjoy.  But don't keep anything that has to stay on a credit card.  Credit isn't evil, but it is a profit-killer in your stage of the game.

Also, don't try to learn about every theme at once.  Pick a few you like or think will do well, and start tracking them.  Look at previous sets and how they performed.  I still don't even watch every theme and rely on others to help me pick sets in areas of Lego I don't understand (looking at you, Technic and Minecraft).  Good luck and most importantly, have fun!

Edit:  Oh, and find someone in your area who has more money than time.  I'm sure they would pay you to buy up extra sets while you go hunting for the sets you want.  I did it and still do for bigger fish in my area sometimes.  And I have other people who do it for me.  We help each other out here :)

Edited by Sfcommando14
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6 hours ago, calmdahn said:

went crazy at Target after xmas clearance and bought like $2k worth of inventory. now having buyer's remorse and afraid to hold on to everything long term. can anybody reassure me and/or buy everything from me lol? (not everything is pictured, some stuff i want to keep for personal use)

 

ebay lot.jpg

Did you buy these sets online or in store? How much of a clearance did you get it for?

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pick sets in areas of Lego I don't understand (looking at you, Technic and Minecraft).  Good luck and most importantly, have fun!
Edit:  Oh, and find someone in your area who has more money than time.  I'm sure they would pay you to buy up extra sets while you go hunting for the sets you want.  I did it and still do for bigger fish in my area sometimes.  And I have other people who do it for me.  We help each other out here

Thanks for the advice!
I didn’t buy any Technic or Minecraft because I couldn’t find ANY that were 50% off! I would have if I had.

I would love to keep an eye out for sets for somebody who has more money than time. I don’t want to make a lot of money doing this, I just want to offset my purchase of things I want to build. I’m in New York City if anybody needs some help and somebody to mentor.


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Posted (edited)
6 minutes ago, calmdahn said:


Nearly everything was in store at 50%. A few were 70%. Very little was less than 50.


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So things are not as bad as you make out because there is hardly 500 USD of stock in the photo and the rest was for personal build, right?

I´d return all SH girls apart from the Dorms, the beetle as it is too soon,  the Batman and other Super Heroes and the nexo. Keep the  X wing Elves and Architecture but try to sell now. The modular can stay if it is 50% off as you can flip that and the mixels make a good freebie. Brickheadz too or return.

Edited by Val-E
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Thank You very much to everybody who replied so far. I can’t tell you how supported you’ve made me feel. Also, I feel pretty good that my instincts for a lot of the sets are right, even if I got carried away in the thrill of the deal hunt. The sets that will sell are also the sets that I personally want.


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8 hours ago, calmdahn said:

went crazy at Target after xmas clearance and bought like $2k worth of inventory. now having buyer's remorse and afraid to hold on to everything long term. can anybody reassure me and/or buy everything from me lol? (not everything is pictured, some stuff i want to keep for personal use)

It seems like you had good discounts so I would give it 6 months as there's a high chance of some profit there. If you honestly do have buyer's remorse and it makes you feel bad, simply return it all and check in 6 months time to see if you would've made enough profit or not. If so, carry on - if not, stop there or have a good long rethink.

When I first started, I was stupid enough to buy 10x 10214 Tower Bridges at RRP as soon as they were released and eventually had to sell at a loss to create more space.

You'll get all the help and advice you need on these pages.

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1 hour ago, calmdahn said:

Thank You very much to everybody who replied so far. I can’t tell you how supported you’ve made me feel. Also, I feel pretty good that my instincts for a lot of the sets are right, even if I got carried away in the thrill of the deal hunt. The sets that will sell are also the sets that I personally want.


Sent from my iPhone using Brickpicker Forum

The most important thing to keep in mind is that buying is far easier than selling.  If you are risk averse, then you should only buy what you are confident you can sell through your available sales channels.  And if you're using credit to buy, you have to have a laser focus on the spread between the interest rate you are paying, the appreciation of the sets that you buy, and the length of time that you're holding the sets.  It's very easy to get upside down on a set that isn't appreciating quickly or that you hold for too long.  

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