Anyone have advice on selling off entire inventory?

[terrymc4677]

I've recently expanded my local platforms by listing a bunch of items on Letgo and Offerup. In addition to Craigslist I've got a pretty good share of my local market for brand new / retired sets. The only listings in my area for Lego other than mine are usually for duplo or knock off crap, so when people see the good stuff at a decent price it generates some interest. Yes, you will get the occasional lowballer, but just stay firm, be polite, and educate them a little bit on the going rate and they will see that your price is actually a good deal. I've also developed quite a few regular local customers who have made several purchases from me, which also spreads the word. The Letgo and OfferUp apps are quite easy to use and navigate, and they also will post directly to Facebook so you can get even more eyes on your items. Local sales are the best because it's cash with no fees. It just takes a little time to get the word out. Good luck.

[ravenb99]

19 minutes ago, terrymc4677 said:

I've recently expanded my local platforms by listing a bunch of items on Letgo and Offerup. In addition to Craigslist I've got a pretty good share of my local market for brand new / retired sets. The only listings in my area for Lego other than mine are usually for duplo or knock off crap, so when people see the good stuff at a decent price it generates some interest. Yes, you will get the occasional lowballer, but just stay firm, be polite, and educate them a little bit on the going rate and they will see that your price is actually a good deal. I've also developed quite a few regular local customers who have made several purchases from me, which also spreads the word. The Letgo and OfferUp apps are quite easy to use and navigate, and they also will post directly to Facebook so you can get even more eyes on your items. Local sales are the best because it's cash with no fees. It just takes a little time to get the word out. Good luck.

Odd just read this post then heard commercial for letgo for first time

[Migration]

Odd just read this post then heard commercial for letgo for first time

How has no one posted a let it go gif by now?

[fossilrock]

9 minutes ago, Migration said:

How has no one posted a let it go gif by now?

Thanks for now getting that stupid song stuck in my head. 

[Migration]

Thanks for now getting that stupid song stuck in my head. 

You're welcome

 

Incidentally, somewhere on YouTube is a video of me on a boat belting that song out at the top of my lungs...

[ravenb99]

4 minutes ago, Migration said:

You're welcome

 

Incidentally, somewhere on YouTube is a video of me on a boat belting that song out at the top of my lungs...

can I please please see that... sure I could search it out but that requires effort

 

and since people want it, we'll go with the channing tatum version

 

[Guest TabbyBoy]

Up to you, guys. Take it with a pinch of salt, but here's my 2p worth...

I've shifted 90% of my inventory so far and had to take losses on a lot of sets. My problem was being so disorganised in the early pre-BP days that I didn't know what I had and sets were cropping up as I got deeper into the stash. I confirm that I'm now out of Red 5 and only have 1 R2-D2, 1 ToO and 2 SSD left out of my big "UCS" which won't grow any more. Overall, I've dumped over 5,000 sets and barely broke even and last years' Tesco flips saved me from huge losses. Yes, I stll have hundreds of sets left, but I think these will be winners in 2018 and that's when I aim to be 100% done with the bailout. I need to do a lot of thinking and research before I consider this again. If I do (highly unlikely), I'll probably just take a punt on 100 of the same small(ish) set at a massive discount, order 100 boxes and just flip those before moving on to the next to keep things simple. I also spent over £12,000 on storage over the last 8 years, not good!

The walls of the bubble are certainly thinning out IMHO.

I would've had another mortgage-free flat rented out by now if I didn't get so addicted to this poor investment model. It's been a huge amount of work for less reward than the average savings account. I'd have done well if I had the attitude I had last year back in 2008, but I had more money than sense and went in head first.

If any of you really want out, be prepared to accept a loss.

I can't spend the same amount again on LEGO as I've just bought a company which should bring in much greater returns and is something that I have more control of. It's a tried and tested B2B model so no more eBay, knock-offs or scammers!

As for a recently retired set reaching 5x RRP, dream on! Minifigs and small sets don't really count.

Newbies, if you've any doubts, don't do it. Or.... take a year doing a "dry run" to see if your taste in sets and gut instinct will bring a profit.

[ravenb99]

2018 or bust

[Lego Templar]

2018 or bust

Don't worry. I read somewhere lego is worth more than gold. If this goes south I'll just open all the boxes and melt the lego into lego bricks. Sell them on the yellow market and make a killing....

[Lego_Monsters]

1 hour ago, TabbyBoy said:

Up to you, guys. Take it with a pinch of salt, but here's my 2p worth...

I've shifted 90% of my inventory so far and had to take losses on a lot of sets. My problem was being so disorganised in the early pre-BP days that I didn't know what I had and sets were cropping up as I got deeper into the stash. I confirm that I'm now out of Red 5 and only have 1 R2-D2, 1 ToO and 2 SSD left out of my big "UCS" which won't grow any more. Overall, I've dumped over 5,000 sets and barely broke even and last years' Tesco flips saved me from huge losses. Yes, I stll have hundreds of sets left, but I think these will be winners in 2018 and that's when I aim to be 100% done with the bailout. I need to do a lot of thinking and research before I consider this again. If I do (highly unlikely), I'll probably just take a punt on 100 of the same small(ish) set at a massive discount, order 100 boxes and just flip those before moving on to the next to keep things simple. I also spent over £12,000 on storage over the last 8 years, not good!

The walls of the bubble are certainly thinning out IMHO.

I would've had another mortgage-free flat rented out by now if I didn't get so addicted to this poor investment model. It's been a huge amount of work for less reward than the average savings account. I'd have done well if I had the attitude I had last year back in 2008, but I had more money than sense and went in head first.

If any of you really want out, be prepared to accept a loss.

I can't spend the same amount again on LEGO as I've just bought a company which should bring in much greater returns and is something that I have more control of. It's a tried and tested B2B model so no more eBay, knock-offs or scammers!

As for a recently retired set reaching 5x RRP, dream on! Minifigs and small sets don't really count.

Newbies, if you've any doubts, don't do it. Or.... take a year doing a "dry run" to see if your taste in sets and gut instinct will bring a profit.

Damn 5000 sets...you're loaded.

I don't even have 10% of what you had.

[Voltron]

9 hours ago, TabbyBoy said:

but I had more money than sense and went in head first.

I think this statement covers most new investors entering lego investing nowadays (me included). Most people just want to get the next 10179 / Tah Mahal etc, but lego investing pre 2010 will never be the same as it is now. You can still make money but as everyone has said it's more risk for less profit now.

It's also easier said than done to do research first / have a plan etc. 99% of people don't have the patience to draw up a plan or even stick to their original budget etc and just spend spend spend within first few months, then it takes them the next year to get rid of the crap sets they bought.

Edited March 4, 2017 by Mhd747