To 2nd hand or not

[Neosphinx]

Hello,

I started with buying and selling lego almost 6 months ago but there is a question that rises.

 

At this moment, I have around 8000

[Migration]

I primarily buy used lots as I have found you can get better and faster returns. The key, as I'm sure you discovered with the lot you described, is to not over pay. There are many ways to sell off lots like that, the most money to be made is in rebuilding full sets, but you can also just wash it and sell it by the pound or kilo for the rest of the world. I just finished selling off an 80 pound lot that I paid $100 for, I sold it in 4 and 5 pound lots at $40 to $50 each. It took about three weeks. Again, the most important aspect is your purchase price. I then use the proceeds to either buy boxed sets, more bulk, beer, or make my wife's car payment.

[Neosphinx]

I primarily buy used lots as I have found you can get better and faster returns. The key, as I'm sure you discovered with the lot you described, is to not over pay. There are many ways to sell off lots like that, the most money to be made is in rebuilding full sets, but you can also just wash it and sell it by the pound or kilo for the rest of the world. I just finished selling off an 80 pound lot that I paid $100 for, I sold it in 4 and 5 pound lots at $40 to $50 each. It took about three weeks. Again, the most important aspect is your purchase price. I then use the proceeds to either buy boxed sets, more bulk, beer, or make my wife's car payment.

 

Not to overpay... difficult to anticipate for me how much I should pay. I mean, as with the lot I told earlier. There was the white ICE train in it. I know I can sell this for around 80

[Migration]

I clean using a pasta strainer either in a big bucket or in my kitchen sink and just use regular dish soap. Then spread it out on old sheets on the floor in my garage to dry. I sell on ebay, the last lot was 5.25 pounds and sold for $50 BIN with free shipping. I've been doing this for a while now, speed comes with experience.

[Neosphinx]

I tried that technique with the pasta strainer too then drying it with a hairdryer. Do you mix it too (like you make soup) or just let it soak in the water? Will need to buy extra pasta strainer as my gf was unhappy I stole both that and the hairdryer for lego.

[Achilles]

While sorting/building dealing with used sets may be more enjoyable for the LEGO fan/collector, in terms of dollars per hour/hassle factor, I think it gets blown away by dealing with new sets exclusively. Also for whatever reason, the competition for parts and used lots can be extremely fierce, and it's just headaches I don't feel like dealing with (garage sales, online classifieds, Ebay, etc). New sets are less fuss and muss - more profit.

 

If you ENJOY working with the used stuff, by all means keep at it.

Also, like you mention - Sometimes you can get a bargain on second hand stuff, and still sell it at a solid profit without sorting it. In the states, unsorted blocks tend to sell between 5-10$ a lb, so anytime you can get it at less than that, you can have a hassle proof profitable sale. Obviously, certain minifigures can be the prizes out of said lots as well. 

[Guest TabbyBoy]

Call me a lazy snob but, I just can't be bothered with anything second hand.  My girlfriend is the exception as her previous owner did a good job.

[Migration]

Three week turnover vs 2-5 years holding exclusives. Which is a bigger hassle?

[Neosphinx]

Three week turnover vs 2-5 years holding exclusives. Which is a bigger hassle?

That is exactly what I am thinking. I have some SSD's and what all else on my attic but it will stay there for at least another year or two. I buy the second hand, not because I love cleaning (who actually does), but to get to know Lego better again and to know better the value... I just was in a bit of a grrrrrrr because of that mistake I made

[biniou]

The biggest problem with 2nd hand is not the washing, it's about missing pieces.

I think both (new and used sets) are ok, but I wouldn't grab any 2nd hand set if it's not very cheaper than the MSRP. The fact that it's built is a good thing too, there are a lot of chances that it means the set has been built once and and only dust had fun with it.

 

Overall I would consider that both investments are ok. But I don't bother to search for used sets, I only catch them when I cross them. For instance this morning I got a creator car and some city rocket launch base pieces. The first one is 99% complete, the second one is... 50% complete. But I paid about 5 or 10% of the MSRP so I guess it's ok.

 

This is the best part, as an investor and a builder: try to figure out what set you have under you eyes, and rebuild it. Both enjoyable and a nice investment.

[Ciglione]

I have two bulk sets which I bought earlier this year. The first lot is all washed, dryed and sorted. I started building the sets as there were many manuals included in the lot. But that was 3 months ago. I simply do not have the time and space now to continue. When we are moved to the bigger house I have plenty of space for my investment business. I then will continue building. Even when all the pieces are sorted it is a tedious task and it takes time. Alot of time. I estimate 80% of the sets will be complete. Some of the sets I will keep for my own city. The rest I will sell. The not-complete ones I will try to complete if it is worth doing it. The rest I will put it in a big bin and sell it as a lot at X price per kilo.

 

I made a little premature calculation and I expect (when all goes well) to earn about 700 euro on these two lots.

 

Will I buy a lot again? Maybe when I am done with these two and it was worth it. But I will be very hesitant and only when it is a no brainer good deal.

 

Also pay attention when buying lots. The chances are high that someone already went through it and selected the best pieces out of it. Then just selling the last crap mixed with some bionicle stuff. 

[Huskers1236]

Very good money can be made by buying lots.  The last one I bought cost me about $600 and I ended up grossing $1700 in a matter of a few weeks since it was very nice, clean, and a bunch of pieces weren't missing.  I have gotten pretty picky with what I buy because I have been on that other side of the fence where you are picking through junk and feel it's not worth it at all.  I wash everything in the sink and then fan day on towels in the basement.  Using the tub would be faster, but the wife won't let me use it. 

[b-ran]

You can get really lucky.  The last lot I purchased for $225 had a near complete Market Street, Cafe Corner, and Holiday Train that were buried in a bunch of loose parts.  I saw the quantity and bought for that, but had no idea the sets mentioned were in there.  I was celebrating like a child when I discovered these sets at the bottom.  Thus this one will net large profits.  Other lots, I haven't been so lucky, and once I consider the time involved, I won't make much at all.

 

I primarily do it for the fun of it.  I enjoy building the sets I missed when I was younger due to not being able to afford, or sets that I missed during my dark ages. I like learning the various building techniques of the sets, and getting to know them better.  I don't mind sitting and watching a movie or tv show while sorting, cleaning, building, etc.  I'm not one that can sit still while watching those shows anyways.

[abri123]

If time isn't a factor then you might as well - on the other hand sometimes it's barely worth the effort so I just separate the minifigures and resell by weight, but sometimes you get a good set in there.

My last box of mixed loose cost me

[MartinP]

I primarily do it for the fun of it.  I enjoy building the sets I missed when I was younger due to not being able to afford, or sets that I missed during my dark ages. I like learning the various building techniques of the sets, and getting to know them better.  I don't mind sitting and watching a movie or tv show while sorting, cleaning, building, etc.  I'm not one that can sit still while watching those shows anyways.

I do it for fun as well. I build sets that I don't have and probably would have never bought in the past and get to enjoy them for a little while before I sell them to recoup the money that I spend on buying the lot. Every time I buy a bulk lot, I usually keep a set or two after making money on the whole lot.

[Neosphinx]

I do it for fun as well. I build sets that I don't have and probably would have never bought in the past and get to enjoy them for a little while before I sell them to recoup the money that I spend on buying the lot. Every time I buy a bulk lot, I usually keep a set or two after making money on the whole lot.

The building part, I don't mind. I enjoy BUILDING lego, but if I compare the time I actually spend building the lego vs. cleaning, sorting etc, Its but a small fraction.

[tractorboy]

I like to buy the occasional used lot if I see that I can make some money from it, but really, if I'm factoring in the time spent sorting and cleaning then the returns are usually minimal. I do it primarily for fun as I enjoy putting old sets back together. I have had some nice finds though which have netted me some decent money

I have a fondness for vintage Lego too, so I usually go for 70s and 80s stuff. I get a kick out of building old sets that I missed out on as a kid, and it's a great way to educate yourself on Lego history. I'm actually happier sorting a mixed lot of old Lego into sets than I am building a new set. I like tracking down missing pieces and get a sense of satisfaction from completing a set and then building it, preferably with period correct pieces. It appeals to my OCD tendencies I suppose.

I love finding used vintage sets in mint or near mint condition. The quality of the pieces is just really nice.

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