Advice on selling entire boxed set collection?

[4cs]

So my wife found a dream house she just has to have (who am I kidding, I love it too). In order to make it work in short order I need to raise some extra capital really quick. I just updated my Brickfolio to check the current values on the collection and need to make a decision on the best way to liquidate the inventory. So basically I need to turn sealed sets into cash in less than 30 days. How would you do it?

Some basics: 

Current inventory is valued at $55,000

All of the sets are sealed.  (We sell some sealed sets on Amazon now and have a small BrickLink parts business on the side)

The sets run the gamut from battle packs up to Modulars. (We were buying sets mostly to part out or hold for retirement)

All sets are from 2013 or newer, no old rare high $ sets.

 

Would you put it all on Amazon, price it at the buy box price and move it?

Would you post collection pics and lists on Craigslist and see if you could save some of the fees?

Would you try to sell the whole collection to someone at a substantial discount (saves time and hassle)

All of the above?

 

I'm open to any and all advice.  I plan on getting back into buying sets again next year, and I hate the thought of selling newer sets close to my buy in price, but this is our "20 year" dream house and if I need to liquidate now to make it happen, I can replace all of it in time.

Thanks in advance for your ideas and input!

[Edgarama]

55k you say?

 

Death Star count?

[4cs]

28 minutes ago, Edgarama said:

55k you say?

 

Death Star count?

Excellent question.......1

[Lordoflego]

A month? Start listing, here, there, everywhere. Plus lots usually sell for less IMO. I'm an eBay guy, can't advice you about Amazon, but with that little time, again, try everywhere, eBay, Amazon, brick classifieds, CL, offerup, letgo, bricklink...

Edited August 29, 2016 by Lordoflego

[Brickshopper]

if it is all 2013 or newer it will be hard to move it quickly without any type of large discount because there is too much supply and not enough demand for these sets currently especially for the ones that have not even retired yet...

[Migration]

I'll give you $10k for it. Or you could either box it all up and send into FBA tomorrow or at least list it and self fulfill. Either way if you want it to move quickly (I can't believe I'm saying this) you'll need to undercut like a newb. Of course selling on Amazon assumes that you're not on the wrong side of the Lego gate.

[Phil B]

1 minute ago, Migration said:

I'll give you $10k for it. Or you could either box it all up and send into FBA tomorrow or at least list it and self fulfill. Either way if you want it to move quickly (I can't believe I'm saying this) you'll need to undercut like a newb. Of course selling on Amazon assumes that you're not on the wrong side of the Lego gate.

... or have half of the $55k stashed away in TFA sets (as those are gated separately).

[marcandre]

Cherry pick the stuff that has appreciated the most and sell individually on ebay. The rest I would try as a lot on CL & brick classifieds and shoot to break even. If you really want to move it all that fast be prepared to take a loss. 

[Migration]

Just now, Phil B said:

... or have half of the $55k stashed away in TFA sets (as those are gated separately).

eBay it is! Of course as a new seller you will probably get hit with a very low sales limit at first.

[Pseudoty]

Just put it in excel set number, name, quantity, price wanted. 2013 you should have some nice sets in there TH, FB, GE, HH, SSD, Arch  

Someome will buy it. 

[terrymc4677]

Where are you located?

[KShine]

Why are people suggesting that the person sell on Amazon - Didn't LEGO just become restricted on Amazon?

Edited August 29, 2016 by KShine

[Bold-Arrow]

Moving 55k worth of inventory on Amazon even without the gating issue is not a good advice . To move all that in a month on Amazon during the off season period  will mean taking a aignif loss  in all likelihood .

ill bet your inbox is already bombarded with inquiries . Best thing to do is bundle it all up on BC , ebay or CL  and try to shoot for a break even transaction . Some items you will make money one ( older 2013 ), other u will probably lose ( 2015/2016) 

[labfreak7]

Yes- I'd do craigslist. What state are you in just out of curiosity ?

[LegoEdison]

i will just borrow $55k more for the house instead of selling at lost or lower the down payment from 20% to 15% and pay the point/mortgage insurance (forgot the term).

 

 

[4cs]

1 hour ago, terrymc4677 said:

Where are you located?

West Michigan

[legopocalypse]

You'd be better off taking a 20k-30k loss on the 55k value then borrowing an additional 55k from your lender. That would cost you around 100k over the 30 years with interest.

Edited August 29, 2016 by legopocalypse

[Armor]

Is there anyway you can wait for the selling season. 55k is not what you should expect to get in a month. I recomending waiting and selling off what you can for the holiday buildup and keep some 2015/2016 sets to sell down the road.

Edited August 29, 2016 by Armor

[donbee]

Put up the best that you can on eBay, if you don't have an account, or have a low rep, you won't sell much, but you'll sell some.

I'm in favor of small lots. Group themes into bundles. You can do this on CL and FB and Next Door. Any where you can.
Try that for a couple weeks to maximize profit. After that, try to sell it in big bulk.

Or, you can Post it on brick classifieds and let us pick at it like piranhas for a couple weeks too.

[Alpinemaps]

38 minutes ago, legopocalypse said:

You'd be better off taking a 20k-30k loss on the 55k value then borrowing an additional 55k from your lender. That would cost you around 100k over the 30 years with interest.

This right here.  I don't know if @legopocalypse's checks out, but I would strongly suggest doing the math. 

[josh_676]

This is the big problem with large amounts tied up in Lego, liquidity.

 

 

[Phil B]

6 hours ago, legopocalypse said:

You'd be better off taking a 20k-30k loss on the 55k value then borrowing an additional 55k from your lender. That would cost you around 100k over the 30 years with interest.

Alternatively, take a line of credit now, start selling immediately, and pay off the line of credit as you sell. You will be paying a few months worth of interest, so you'll take a bit of a hit, but you might not be needing the LoC long.

[Kevink24]

I believe we've had a few members here on BP that have listed the sets on Brick Classifieds as a lot, and have sold them relatively quickly. I want to say BP members, Diablo and Baldilocks...maybe they can chime in, to give their experience. I dont know what their loss was but it seems that it was a "more" positive experience than all the alternatives.

West Michigan is a large area, are you closer to St. Joseph or Traverse City? You may get a BP member willing to drive to collect it all.

Edited August 29, 2016 by Kevink24

[4cs]

13 minutes ago, Kevink24 said:

I believe we've had a few members here on BP that have listed the sets on Brick Classifieds as a lot, and have sold them relatively quickly. I want to say BP members, Diablo and Baldilocks...maybe they can chime in, to give their experience. I dont know what their loss was but it seems that it was a "more" positive experience than all the alternatives.

West Michigan is a large area, are you closer to St. Joseph or Traverse City? You may get a BP member willing to drive to collect it all.

I'm located in Grand Rapids.

I've received a few PMs asking for a set list and I can make that available.

I'm not inclined to borrow the extra $ from the bank (even in the short term). My original thought was to convert this asset to cash to put more $ down on our initial mortgage and buy a bunch of new stuff for the house (new furniture, beds, etc.). 

My main business involves running retail stores and we are cash rich coming out of the holidays, this is just an idea to raise extra capital to try grab this dream house before someone else does. I wish the timing on the house was in January, but a deal just fell through with the seller's original buyer and the seller is motivated.

 

[KShine]

20 minutes ago, 4cs said:

I'm located in Grand Rapids.

I've received a few PMs asking for a set list and I can make that available.

I'm not inclined to borrow the extra $ from the bank (even in the short term). My original thought was to convert this asset to cash to put more $ down on our initial mortgage and buy a bunch of new stuff for the house (new furniture, beds, etc.). 

My main business involves running retail stores and we are cash rich coming out of the holidays, this is just an idea to raise extra capital to try grab this dream house before someone else does. I wish the timing on the house was in January, but a deal just fell through with the seller's original buyer and the seller is motivated.

I don't know your financial situation, but it sounds like you are in pretty good shape financially.

I wouldn't suggest that you start selling at desperation prices (since that is not your situation). You could always pay down your mortgage when you sell your LEGO, or buy the new furniture as your LEGO items sell.

Shopping for furniture for your dream home is an enjoyment (that shouldn't need to be rushed) - so I don't see a reason for taking a big loss on your sets. Of course, if there is any advantage to loan rates, etc. on the house (if you were to put down a bigger deposit), than that would change things.

Edited August 29, 2016 by KShine