Question about actual market price versus pricing guide prices

[kayakjack]

Maybe this has been asked before, but being new, and not able to find an answer within these walls - are collectors actually paying close to the pricing guidelines provided within?  For example, I've determined that pricing guides for baseball cards, comics, trains, etc. are very high compared to what collectors are actually willing to pay.  So, is it the same with LEGO?

Thank you for your help.

Best Regards,

kayakjack

 

[gregpj]

If by pricing guidelines, you mean the values shown when you look up a set in the Brickpicker database, then yes that is what people have paid. The pricing guide is based off real eBay sales.

Now, Jeff does his best to remove outliers and filter the listings (i.e. to remove "lots" of diff sets) but it's not perfect. For example, some listings may have free shipping and others may not. What seasoned sellers will do is use the information Brickpicker provides as a guide and compare it to real eBay sales. You can get an idea of how accurate the guide is by looking at those recent sales (it's usually pretty good).

The other thing is that the data the site owners get is previous month's sales data and then it takes time to filter and parse the listings... so the data can sometimes be a month or two "old." Not a big deal for older sets that aren't fluctuating in price, but if you're into the quick flip game it matters.

 

[Ed Mack]

Thank you Greg...Yes, our Price Guide is real data...usually a month old.  It is from actual "sold auctions" on eBay.  We also include Bricklink's data as well, which is based on their sales.  The two numbers are usually close, with the eBay auctions being slightly more than the Bricklink's sold items.  Both sites offer accurate data and show the current trends in values.  

[El Guapo]

Maybe this has been asked before, but being new, and not able to find an answer within these walls - are collectors actually paying close to the pricing guidelines provided within?  For example, I've determined that pricing guides for baseball cards, comics, trains, etc. are very high compared to what collectors are actually willing to pay.  So, is it the same with LEGO?

Thank you for your help.

Best Regards,

kayakjack

 

Yes.  The prices here are pretty accurate.  It is an average, and shipping (or free shipping) sometimes comes into play.  But if you use this..then take the last 5 to 10 sold listings you will be in the ballpark and will have a good idea on A) what price to list your item at and B ) if it is trending up or down. 

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Meant to say that Brickpicker pricing is NOT like other "price guides"...not that it is... LOL

[kayakjack]

Thank you everyone for your fast responses.  Much appreciated.  I also don't know if you all will see this as well, and of course one question and answer begets yet another, but how do your statistics handle eBay Buy It Nows Or Best Offers since the Best Offers accepted are no longer displayed?  Do you just discard those sales, use the original BIN price, or do you actually have access to the BO price which was accepted?  I'm trying to get this down to a science on my side.  I greatly appreciate the work you have already done on this on your side.  Best Regards, kayakjack

[thoroakenfelder]

Maybe this has been asked before, but being new, and not able to find an answer within these walls - are collectors actually paying close to the pricing guidelines provided within?  For example, I've determined that pricing guides for baseball cards, comics, trains, etc. are very high compared to what collectors are actually willing to pay.  So, is it the same with LEGO?

Thank you for your help.

Best Regards,

kayakjack

 

Price guides like Beckett or overstreet or whichever price guide companies are still extant tend to use data provided to them by certain businesses in certain high traffic cities. These are businesses that can have higher priced items sit in their displays for longer periods of time on the off chance someone will walk in and need it right then instead of buying the items online, and hoping something doesn't happen to it in the mail. These businesses also tend to have the overhead that they have to offset with their higher priced merchandise.

The data shown here seems to come only from actual sales figures and not the listings on Ebay that sit and rot hoping that someone purchases them. You can also get some idea of numbers by looking at Bricklink and seeing their price guide because it shows you 6 month sales.