Do other people think of opening sets as "buying" from themselves?

[redeemed763]

So, I have a few sets tucked away right now that are doing well but I keep eyeing to build for myself. Right now, the stacks are comprised of the Imperial Flagship, Fire Brigade and Shuttle expedition, I only have 3-5 of each but every time I think about opening one, I realize that in doing so, I am becoming a person who pays way over MSRP for EOL lego (a chump in my book!). 

 

Even though I bought the sets for under MSRP, the cost to me of opening and building it is the same as buying one at inflated secondary market prices due to the loss of sale. These are all sets that I bought extra of in order to build one or even two for myself but now that I am seeing how well they are appreciating, I am having a hard time justifying breaking those seals. 

 

I know I hear about folks who struggle with opening sets that they wanted to resell down the road because the temptation to build, but there must be quite a few folks who struggle with the temptation to sell sets for profit that were earmarked to be opened.

 

My wife bought a bunch of friends sets for our kids when they are old enough because they were heavily discounted and she really thought they were super fun. Now I am looking at these sets that have tripled or quadrupled in value and seeing the plethora of new ones, I realize they keep making good products, so why would our kids care if they got an amazing vintage set that was made 4 years ago and is out of production? I know I wouldn't have when I was young, I would be drooling just as much over the brand new shiny ones at the store just as much. 

 

I am starting to re-think my patterns now, I am trying to get the most enjoyment out of opening sets that were poor performers and pushing some of the golden ones out of my mind for building and owning. Also, I am looking for more and more used sets to build for myself, however, I have found that I can often times still get sets new for less than used prices if I shop well. 

 

If I had a UCS Falcon or Taj Mahal or Eifel Tower sitting unopened in my basement, I wouldn't think twice about selling them instead of building, even though you won't find many who would appreciate them more. Why? Because I can do a lot of other stuff with the $5000 from those sets that I enjoy more than having them sit on display. 

[Quacs]

Great post, redeemed.  I would sell those MISB sets, and head to BL or CL to pick up a used copy of the same set.  To me, there's no magic in cutting the seals on a set.  Pocket the difference and still have a great set for buiding.  Then when it's sat for a year in the basement, you can sell the used set for more than what you bought it for!

[knarrff]

Great post, redeemed.  I would sell those MISB sets, and head to BL or CL to pick up a used copy of the same set.

I agree, but I would probably do it the other way around. I would first make sure I get a well preserved, but cheap used set and then sell the MISB set for more after fees than I paid for the used one.

[Ciglione]

That is why, when you buy a copy for yourself to build you should open it right away. Do not wait too long. Cause then the value is increased and you will have problems opening it. No matter what, it is difficult. I bought the 10231 Shuttle Adventure MISB and the 4184 Black Pearl MISB to build it. But cause of the move to the new house I cannot open them now. I have to wait. Prices already went up since a month or two ago. So I need to hurry up! 

[Alpinemaps]

Sets that I really, truly, intend to open and build I put in a completely different place than the sets I use for investment.  It helps to keep them separate.

 

I don't consider them as sets I've bought from myself.  But, I do put them into my Brickfolio (as a used set), and I do list them on my own tracking spreadsheet.  My investment goal, right now (because I have kids that play with Lego) is to make sure that I first cover my "play" costs with my investments.  So, my first goal is break-even.  (There are other goals, but for the purposes of this conversation, that's all that matters).

 

But, sometimes I look at it individually.  For example, last week, I flipped a few Star Wars Advent Calendars.  I made enough from those to pay for the one calendar I wanted to make sure I had for myself.

 

I do consider some of the sets I buy, and open up, as potential future investments, though.  I like the architecture sets, and enjoy displaying them on my desk at work.  Usually, I will buy one set, build and display it, and then, after a couple of months, it gets torn down and put into the investment area.  Yes, it's used.  But, I look at the used vs new selling price, and make piece with the idea that any money I may lose having opened the set is usually such a small amount that I "paid" for entertainment.  (e.***., if I lose $5 on a architecture set, I certainly got $5 worth of enjoyment out of it).

[redeemed763]

Great post, redeemed.  I would sell those MISB sets, and head to BL or CL to pick up a used copy of the same set.  To me, there's no magic in cutting the seals on a set.  Pocket the difference and still have a great set for buiding.  Then when it's sat for a year in the basement, you can sell the used set for more than what you bought it for!

I bought the Queen Anne's Revenge used for $80 which I thought was overpaying for it, now, seeing that I can likely get around $300 for it, I am tempted to sell. On the other hand, as a kid, I always wanted a pirate ship to play with but could never afford such a large set. I want my kids to be able to have a pirate ship and I have no idea when they will ever make on again, it could be a long time.

[exciter1]

Great post, redeemed.  I would sell those MISB sets, and head to BL or CL to pick up a used copy of the same set.  To me, there's no magic in cutting the seals on a set.  Pocket the difference and still have a great set for buiding.  Then when it's sat for a year in the basement, you can sell the used set for more than what you bought it for!

 

This is what I do.

[Quacs]

I bought the Queen Anne's Revenge used for $80 which I thought was overpaying for it, now, seeing that I can likely get around $300 for it, I am tempted to sell. On the other hand, as a kid, I always wanted a pirate ship to play with but could never afford such a large set. I want my kids to be able to have a pirate ship and I have no idea when they will ever make on again, it could be a long time.

 

Does it have to be QAR?  Lego is set to produce a new pirate ship next year that will be significantly less than $300.  It will also probably be less detailed with the typical yellow head minifigs rather than the flesh colored minifigs from licensed themes.

 

Food for thought-

[hendrikdejager]

Great Post.

 

I agree with you that opening a set is really hard and our reasoning is fair that we "kill" the value. After all we drop it from the NEW to the USED market.

When i want to build a set that i have NEW in my Brickfolio i try to find it USED (under USED Market Value and when i want it bad i buy it AT Market Value USED).

 

By buying it used i get to build it without it losing value (besides the set dropping due to a re-release or something).

This is how i got to build a 10210, i found it used @

[redeemed763]

Does it have to be QAR?  Lego is set to produce a new pirate ship next year that will be significantly less than $300.  It will also probably be less detailed with the typical yellow head minifigs rather than the flesh colored minifigs from licensed themes.

 

Food for thought-

Good to know, I haven't been paying a lot of attention to the new sets for next year, I just know that we haven't had a classic pirates release in a long time and the one refresh we had this millennium was a colossal flop in terms of sales. I could care less about the qar even though I do enjoy the sail colors more than most classic pirate ships. I have no attachment to the movie aside from the casual enjoyment from Johnny Depp as Jack Sparrow. If that is the case, I will likely just buy the set for next year or open a LOTR pirate ship ambush. 

[tractorboy]

I've never felt like opening a set I bought for investment. I think the key is deciding what the set is for before you buy it. If there's a set I want to build, I'll just look for a used one, or failing that, I'll just buy a new one and open it right away and build it. I know that I'll get most (if not more) than my money back when it goes EOL anyway, even selling it used. So I never lose sleep over wondering what it might have been worth had I not opened it, I just enjoy the building of it for what it is.

 

If I want to buy for investment, then I'll do that and just put it away. Even if they're the same set, to me they're different things.

If you're opening sets you've bought for investment, you'll just end up beating yourself up over it. Decide before hand what the set is for (building or investing) and it's never an issue.

 

The sets I buy as investments aren't Lego sets in my eyes. They're just boxes, commodities that are worth money. There could be tinned fruit in there for all that it matters.

I like buying used sets and bulk lots. It keeps my urge to build at bay and brings in a little extra cash also. My investing is totally separate and I never confuse it with my fondness for building or collecting.

[redeemed763]

I am not talking about opening a set you bought for investment, I am talking about NOT opening a set you bought to build. I haven't struggled with opening sets that I earmarked for resale, I just don't get around to building every set I buy right away. I bought the 10210's three years ago right after I got married, it was busy for a while and a put them in storage, I really want to open one to build but I keep seeing the price soar every few months, now they are selling for over $600, they were hard for me to justify opening right after eol when they jumped to $280, it keeps getting harder by the month. 

[terrymc4677]

Never get high off of your own stash. Next thing you know you'll be a lego junkie. Your family and close friends will have to stage a legovention, and enroll you into a twelve step program. Put those investment sets out of sight and out of mind. I have never opened an investment set for my own personal use. I have dipped into the stash for Christmas and birthday presents for my kids, but only sets that haven't appreciated yet if at all. Other than buying used copies of the sets you wish to build s others have mentioned, there is another way to get your lego building "fix". Buy a few bulk lots. They can be challenging and fun at the same time. They will also provide you with hours of "lego time" to help keep your mind off of cracking the seals on your really good stuff. Good luck, my friend.