fuzzy_bricks Posted July 17, 2014 Posted July 17, 2014 If Jeff implemented Shop At Home autoexpansion, i don't think it would be a big deal to add a feature where if you type <10179> or ##10179, forum back end would convert it to a name of a set with a link to a set in BP database. I wouldn't mind the search bar staying at the top of the screen as you scroll down, that way it is always there to search a set. 1 Quote
Alcarin Posted July 17, 2014 Posted July 17, 2014 But for a true investor or reseller looking to make actual profit, it can be and often is a VERY bad deal once you factor in time sink and consider what other paid work you could get for that same amount of time. And lets not forget opportunity cost with tied-up capital and space/quality of life cost with storage of inventory. But what if (theoretically) you cannot find a job and are doing this? Is it still about your work vs minimal wage thing? If you cannot get it .... Just my thought. Quote
DoNotInsertIntoMouth Posted July 17, 2014 Author Posted July 17, 2014 One seller that we all remember fondly never had any cost to selling and buyers were flocking to the Toys R Us parking lot for his goods. I probably passed him thinking he was just some homeless guy spouting nonsense about hotcakes. 2 Quote
Darth_Raichu Posted July 17, 2014 Posted July 17, 2014 I probably passed him thinking he was just some homeless guy spouting nonsense about hotcakes. Did he wear a trench coat with LEGO boxes hanging on the inside ? 2 Quote
No More Monkeys Posted July 17, 2014 Posted July 17, 2014 Did he wear a trench coat with LEGO boxes hanging on the inside ? I can easily imagine DNIIM in trench coat with minifigures inside. Boxes are kinda awkward... Quote
Jeff Mack Posted July 17, 2014 Posted July 17, 2014 If Jeff implemented Shop At Home autoexpansion, i don't think it would be a big deal to add a feature where if you type <10179> or ##10179, forum back end would convert it to a name of a set with a link to a set in BP database. I wouldn't mind the search bar staying at the top of the screen as you scroll down, that way it is always there to search a set. The new version of this forum is in live beta on their site. I have logged in several times to read feedback and test things. They changed several things including the editor and way the templates and plugins work. I just need to wait until that is released before I will spend any time doing new features on this one. I was working with a dev a few months back to put a button in this editor and you would just type the set number in. It acted just like the image or link buttons in this editor. We were having it show an image of the set, name, number current value, best deal. We will get back to it once we know what the new forum is doing and released. 3 Quote
Ciglione Posted July 17, 2014 Posted July 17, 2014 I think that sales cost is the single biggest factor in ROI. Being efficient with your shipping material & Methods makes a HUGE difference in your ROI. Do you pick up free boxes from Walmart when they're unpacking stuff, and save them in your garage for when you need them, order them in bulk from Amazon pack your items as soon as they're bought so they're ready to ship out, or do you run out to UPS and pay 6.99 for a perfectly sized box because you only have 2 business days to ship it out without getting dinged? Do you ship all your items to Amazon for ease of shipping, but pay much higher fees and end up paying rent if they sit too long? Do you become a craigs list seller, avoid fees entirely but have to buy a gun to keep from getting lego-mugged? So many options. So many chances to inflate or destroy your hypothetical 20-30% ROI. Maybe that is a good investment. Guns! Quote
No More Monkeys Posted July 17, 2014 Posted July 17, 2014 Maybe that is a good investment. Guns! And you can get Lego for free on Craigslist that way! 2 Quote
Ciglione Posted July 17, 2014 Posted July 17, 2014 And you can get Lego for free on Craigslist that way! Yesterday I went to the local policestation to apply for a job they had listed on the front door. "Wanted: Bank Robber, Male, caucasian, between 30 and 40 years old, Reward: 15,000 euro". But... my application was denied. Cause I do not own a gun. 2 Quote
glenbart Posted July 17, 2014 Posted July 17, 2014 Until you sell your gain is zero. Unless you work for free, or know people who are willing to work for you for free, then the cost of labor in listing, packing and doing customer service will knock that 60% down considerably (may even put you in the negative). This conversation has been on the forum before, quit nitpicking my post. I'm just telling a member what my % increase is on my brick folio as they were talking in percent terms over a given period of time. I have said time and time before you need to allow for a deduction of 15% to allow for all fees, I buy tape, use a printer, I have no other hidden expenses period. I know what my cost per hour is, my first experience of selling polybags netted me over Quote
Popular Post iahawks550 Posted July 17, 2014 Popular Post Posted July 17, 2014 I do find it a little comical when people add in the the "cost of time" to sell the items. This would most definitely be true for those who rely solely on sales to pay their bills. For most of us, it's a side hobby and we have a full time job. The "cost of time" to sell is only applicable if you would be doing some other money making venture at the same time. If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO. 13 Quote
glenbart Posted July 17, 2014 Posted July 17, 2014 If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO.I haven't worked a paid job since 2005 so it is totally the case of getting off my arse. Quote
gorbasho Posted July 17, 2014 Posted July 17, 2014 If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO. Most of those things cost money, so it turns out that taking time to sell actually saves you money! Therefore the key to cutting your spending is to spend more on Lego to sell later Quote
No More Monkeys Posted July 17, 2014 Posted July 17, 2014 Most of those things cost money, so it turns out that taking time to sell actually saves you money! Therefore the key to cutting your spending is to spend more on Lego to sell later yeah, food is expensive these days... if you can skip on eating, that's money earned! Quote
gregpj Posted July 17, 2014 Posted July 17, 2014 I do find it a little comical when people add in the the "cost of time" to sell the items. This would most definitely be true for those who rely solely on sales to pay their bills. For most of us, it's a side hobby and we have a full time job. The "cost of time" to sell is only applicable if you would be doing some other money making venture at the same time. If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO. My "cost of time" when selling a set isn't something i calculate in $s. I have two young kids, a job, plenty of hobbies outside of Lego and a old home that always seems to need a repair or two. It's why I stick mostly to the big sets. My time is valuable, but not always in $s. The one that gets me while we're talking about cost of time is those who drive for hours searching for clearance deals. It seems some people magically glance over that "cost" in terms of time spent and gas dollars spent (I know the thrill of the hunt... but did you spend $50 in gas to save $50 on a set?)... I try to limit my trips to B&M stores - if I'm going out for something important (like food) then sure I'll check the clearance aisle or pop into the Walmart or TRU that is literally next door. Google says I am 2 miles from my nearest WM and TRU stores and I won't make a special trip just to check. (Full Disclosure: To get a set of Simpsons minifigs, I did create excuses to go to the store and go buy a few packs at a time to surprise the family. But hell, I drive a Prius V or a Mini Cooper .. it literally costs me a sub-$1 to get there.) I'm a big fan of ordering online and shipping to my home when I can. So many places offer free shipping when spending a few dollars. 3 Quote
Ciglione Posted July 17, 2014 Posted July 17, 2014 yeah, food is expensive these days... if you can skip on eating, that's money earned! and you save time to prepare the food, do shopping, throw out the garbage, etc. Wow! You can spend all this time on selling legos instead! Quote
BrickLegacy Posted July 17, 2014 Posted July 17, 2014 I do find it a little comical when people add in the the "cost of time" to sell the items. This would most definitely be true for those who rely solely on sales to pay their bills. For most of us, it's a side hobby and we have a full time job. The "cost of time" to sell is only applicable if you would be doing some other money making venture at the same time. If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO. I agree with this 100%. I'm not doing this to make a living. I'm doing it to fund my hobby. It's something that I enjoy. I'm actually looking forward to the selling side of things. It will be awesome to use funds from a sale instead of my salary to invest in more LEGO. I'm positive I will make plenty of mistakes, and I'm certain there will be plenty of headaches and bad customers. However, my volume won't be that significant so a bad sale here or there isn't going to ruin it for me. I don't recall anyone on here saying "I'm no longer investing in LEGO because there are too many bad customers on eBay, Amazon, Craigslist, or Bricklink" They complain about it, but they still play the game. I think most people are trying to be sincere in helping others by giving fair warning to the sell side. I think others use it as a scare tactic to drive away new investors and competition. Maybe that sounds too cynical, but I think it's plausible. Quote
exciter1 Posted July 17, 2014 Posted July 17, 2014 I'm doing this to fund my wife's shoe and purse habit. My kids do get some cool LEGO by association though. 2 Quote
justafrog Posted July 17, 2014 Posted July 17, 2014 I do find it a little comical when people add in the the "cost of time" to sell the items. This would most definitely be true for those who rely solely on sales to pay their bills. For most of us, it's a side hobby and we have a full time job. The "cost of time" to sell is only applicable if you would be doing some other money making venture at the same time. If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO. Your time is never worth zero. Birth to death, we all have a limited number of hours on this earth, and those hours are WORTH something. Sometimes, they're worth dollars. Sometimes they're worth relaxation or family time or the actual hobby of building LEGO (versus a hobby of selling it) or volunteering at an animal shelter or taking a cooking class or sleeping. For those who enjoy selling LEGO as a hobby, that's fine - but the cost of time is some of your hobby hours pursuing that, leaving you less time for your other hobbies, from building LEGO to whatever else you might like to do. (Side note to Alcarin's post: in the event that someone cannot find any other paid work, working for a pittance might be more attractive than no money at all. I don't know how it is in your neck of the woods job-hunting-wise, but in the U.S., despite what the cable news channels and the lazy claim, it is hard to NOT find work if you really want it, for minimum wage or better, provided you're willing and able to get off your butt. ) 2 Quote
Ed Mack Posted July 17, 2014 Posted July 17, 2014 After reading hundreds of thousands of posts(...and that is just The Orc King...LOL) on this and other sites, people need to have more patience. Time is your friend, but many people think week to week, month to month. Many of you already know how I feel about short term flipping...I really don't recommend it. Why? Because as many have mentioned above, flipping sets for many members equates to a minimum wage type of job. Now don't get me wrong, you can make money short term flipping sets, but how much money for the time invested is the real question. There are some exceptional sets at times that can be flipped for a solid profit, but they are the minority. This is also not a knock on small sets. I just bought 20 smallish sets from Amazon and Target two days ago, so I am a believer in small sets. But you need to market small sets properly to get the best bang for your investment buck. Flipping $15 sets one at a time is a waste of time IMO. You are better off coming up with creative combinations of sets(lots) that might entice a buyer, which reduces commissions slightly and saves time on shipping and packaging. Back to my original point, expectations are too high given the time frame in which many work with. LEGO investing is not a 2 or 3 month process. It can take years. People getting involved need to invest money that they "don't need to live off of." If you need to short term flip sets to make rent payments, you will be homeless soon enough. Do some people pay their rents/mortgages off of LEGO reselling...yes, I'm positive there are some that live off of that money, but the vast majority of resellers cannot make enough to support themselves. The exceptions might have a true knack or insight to picking the proper sets or connections to locate cheap products. If you get involved with LEGO investing with eyes wide open and some spare cash, space and time, you can make some decent money. Otherwise, it's a a lot of work for a little money. 4 Quote
Alcarin Posted July 17, 2014 Posted July 17, 2014 I do find it a little comical when people add in the the "cost of time" to sell the items. This would most definitely be true for those who rely solely on sales to pay their bills. For most of us, it's a side hobby and we have a full time job. The "cost of time" to sell is only applicable if you would be doing some other money making venture at the same time. If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO. Thats is wrong way to look at it.... its more theoretical than you make it to be..... Basically if you have a job, you should take your hourly pay in your job and comapre it to your calculate hourly pay from doing your ''Hobby'' Anyone who has more than 100 sealed sets in his brickfolio is far from a hobby guy(unless you are waiting for more room to open majority!)...... I can call myself that ''investing'' in LEGO is my hobby, I have 850$ currently invested in LEGO which is about my 1 month payment (give or take a few $$$) i have 0 Ebay auctions or listings atm, and have a Bricklink shop with like 25 items (currently) but still have over 2000$ worth of stuff on displays...... The point is, if you can find a 2nd job, that pays per hour more than your ''hobby'' does you are negative on the potential revenue income..... now turn it as you wish, thats what it means to count in the time costs.... You can still do it, since you're a free man to do as he please, but dont fool yourself like you did Quote
biniou Posted July 17, 2014 Posted July 17, 2014 and you save time to prepare the food, do shopping, throw out the garbage, etc. Wow! You can spend all this time on selling legos instead! A good investment too is to have a kitchen garden, and especially make grow some salad. Awesome ROI (about 800%) (radish are ok too, if you want several kind of vegetables in your vegetefolio) 2 Quote
Ciglione Posted July 17, 2014 Posted July 17, 2014 A good investment too is to have a kitchen garden, and especially make grow some salad. Awesome ROI (about 800%) (radish are ok too, if you want several kind of vegetables in your vegetefolio) But then you will need a gun, again. 1 Quote
biniou Posted July 17, 2014 Posted July 17, 2014 But then you will need a gun, again. Yeah snails and slugs are toughs these days... Quote
Ciglione Posted July 17, 2014 Posted July 17, 2014 Yeah snails and slugs are toughs these days... Those are the nicknames of your capo regimes? Mine are called Silvio and Paulie. 1 Quote
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