** SEALED WITH A KISS…**
** Breaking the Seals on a MISB LEGO Box Can Mean "Kissing Money Goodbye!"**
In last month's BLOCKS BrickPicker article, we discussed the value of used LEGO sets in comparison to new LEGO sets in the LEGO secondary market. Our analysis concluded that the simple process of opening a LEGO set and "building" it will lower the future resale value of the set by around 40%, assuming that the condition of the used set was in excellent condition. But did you know that by simply slicing open the seals of a brand new set, the potential value of the set also diminishes, even if the set is never built or removed from the plastic poly bags? The values of LEGO sets on the LEGO secondary market is much more complex than just new and used. After researching and participating in the LEGO secondary market for the past seven or eight years, I have come up with five major categories of LEGO set "conditions." This classification system was borrowed from our book,* The Ultimate Guide to Collectible LEGO Sets*, which releases in November of 2015. The five categories are:
***NEW…MISB (Mint in Sealed Box): $$$$$...Set is brand new, with a box that is in excellent condition and sealed from the factory. Limited shelf wear is acceptable. Sets in this condition bring the most money. The better the box condition, the more the set is worth, but the difference between a perfect box and one with slight wear is small. *
***NEW…MIB (Mint in Box): $$$$...Box is in excellent condition with minimal shelf wear, but the factory seals are broken or removed. Contents are sealed in factory plastic baggies and all parts are accounted for. Instructions/stickers are in new condition. No stickers applied. For all intents and purposes, a MISB that has been opened. This type of set is worth slightly less than the MISB…less than 5% in most cases. *
**NEW…NIB (New in Box): $$$...Box is damaged or destroyed. Inner contents are sealed in factory plastic baggies. Set is complete, with all pieces, sticker sheets and instructions. The set was never built. There are variations, even within this condition. Basically, what are the conditions of the box and instructions? A set in this condition will be valued less than the average NEW price. Sets in this condition can sell for top dollar if the potential buyer is just interested in buying and building the set…which many are.
***USED…Complete set: $$...The used set is complete with box, instructions and all pieces. The pieces are clean and in excellent condition. The box is in good condition with some shelf wear and minor damage. Used sets that have been built for display by adult collectors usually are more valuable than sets that have been played with numerous times. If the sticker sheet is intact and stickers never applied, the value of this type of used set will increase. *
***USED…Incomplete set: $...Least valuable of all set conditions. Box, pieces and/or instructions are missing. Depending upon the condition and what's missing, the value of a set in this condition can vary greatly. Missing instructions can be reprinted at LEGO.com, so this is a minor issue. Missing boxes can reduce the value of this set, usually decreasing the value around 10%. The value of a set missing pieces and/or minifigures depends on what is missing. Sets missing minifigures can lose half their value, if not more. *
We at BrickPicker.com have aggregated millions of completed eBay auctions over the past four or five years and have come up with an approximate guide in relation to set conditions and their values. For simplicity's sake, let's assume we are talking about a hypothetical LEGO set that has been retired for five years. The current market value of a MISB set (Top of the LEGO set scale) is $100 (US) or ￡65 (UK). I made a small chart to approximate the values for this set in other conditions. Remember, this chart is only a guide and prices within it are approximate and highly variable...
As you can see, box condition is important to many potential buyers. The more expensive and iconic the set, the more box condition could play in its ultimate value, so lacking one entirely can lower the value of a new set close to 20% in some cases. In a lot of cases though, potential buyers will only be concerned with the condition of the pieces and instructions because they want to build the set and would have discarded the box anyway. This being said, having LEGO seals cut on any box can reduce the value of a set by around 5%, even if the box and contents are in MINT condition. You may ask yourself, "If people are going to just build the set, who cares if the seals are broken?" Well, the answer is that some potential buyers on the LEGO secondary market are LEGO collectors and LEGO collectors like their boxes sealed.
So, in conclusion, slicing those seals on a MISB set is not the end of the world, but it can drop the value of a collectible LEGO set. Also, good box condition also helps increase values of secondary market LEGO sets. One thing to keep in mind though is that the seals on LEGO boxes can be tampered with...and easily at that. More and more LEGO sets are being compromised by unscrupulous resellers and thieves. LEGO sets are even being tampered with in primary retail stores through the returns process. There might be a time in the near future that an opened set (broken seals) in mint condition that has had its contents verified as complete is worth more than a supposed sealed set with its contents unknown. As a long-time LEGO collector, I wish box quality would go back to the days of the 375 Yellow Castle or 497/928 Galaxy Explorer, which had a heavy duty box that opened, exposing an inner clear plastic compartment with all the pieces in clear view. Even the recent 852293 Castle Giant Chess Set had a wonderful box that displayed the Chess board and minifigure/maxifigure playing pieces. All of these sets had boxes that were difficult to tamper with and were excellent marketing tools in that kids and adults alike could gaze at the multitude of new and unused bricks inside the box'. A person would often catch me admiring the innards of a LEGO box some 40 years ago in the aisle of a local toy store. Unfortunately, anything would be better than the cheesy piece of clear tape that is currently being used as seals on many of the medium and larger-sized LEGO sets. Here's hoping to a future in which LEGO boxes are sealed with more than a kiss…
PICTURES OF THE 852293 CASTLE GIANT CHESS SET
