New To the idea of investing in lego

[LegoNoob!]

I was wondering  if anyone could help me out i want to learn to sell lego for profit so i can by lego to support my HUGE lego addiction            would i be possible to profit  while only spending 30$     please help me learn how to get stated

[scatttcat]

39 minutes ago, LegoNoob! said:

I was wondering  if anyone could help me out i want to learn to sell lego for profit so i can by lego to support my HUGE lego addiction            would i be possible to profit  while only spending 30$     please help me learn how to get stated

Did you mean to write only $30.00?

I don't know what business venture you think you can ever succeed in with only $30.00 of initial funds..... I would say step 1 is to save up a good amount more. Money that you are okay with losing worst case scenario (as in most investments).

 

 

[$20 on joe vs dan]

1 hour ago, LegoNoob! said:

I was wondering  if anyone could help me out i want to learn to sell lego for profit so i can by lego to support my HUGE lego addiction            would i be possible to profit  while only spending 30$     please help me learn how to get stated

start off as an opportunistic collector; which means if it's a great deal, buy 2 and if it's an awesome deal buy 3.

Take advantage of the low hangin fruit...like the Ford key chain promo w the mustang set...you can sell the key chain for $25+ w/ zero buy-in or the Marvel Bricktober set which can be sold for $35-ish...these simple sells can help support the Lego addiction. Keep in mind that in most cases, unless you can sell it for 2x the buy-in...it ain't gonna be worth while when considering fees and shipping and time.

[mizeur]

Did you perhaps read an article in Bloomberg about a Russian professor's study based on 4 year old data?

 

Step 1) Buy Exo-Suit

Step 2) ...

Step 3) Profit for HUGE addiction.

[Jackson]

3 hours ago, LegoNoob! said:

I was wondering  if anyone could help me out i want to learn to sell lego for profit so i can by lego to support my HUGE lego addiction            would i be possible to profit  while only spending 30$     please help me learn how to get stated

You can get "stated" by realizing there are a million easier and faster ways to make money other than selling LEGO sets.

Sorry about your HUGE addiction problem. Please seek professional help.

[Jimking23]

You have to ask yourself, “Do I want to be a reseller”. Eventually all investors have to become resellers to realize a profit. I’m not trying to discourage you, just be aware the effort that goes into reselling. 

[brickvoyeur]

If you are just looking to supplement your costs, buying new sets in store to flip is a pretty piss poor strategy. The competition is really high as anyone and everyone  can get their hands on these sets. You need to hold them until after retirement in most cases to get decent value on them after paying for shipping and fees.

You're much better off buying bulk lots and splitting them up. You can get them locally on craigslist, facebook, offerUp, etc., and you can also find some pretty good lots on eBay and Mercari. Obviously you look for lots where instruction manuals are included, you can see lots of figures, and many partial/complete sets. Back before I had kids I was scoring a large lot weekly... and in many cases they were full sets all built in the pictures. If you nab lots like this on eBay, just ask the seller to individually bag the sets.

Take your time and do a lot of research. Find which older themes and sets are selling well. Be selective and patiently hunt for things.

I've made much higher profit margins buying bulk lots and splitting them, than I have clearing out Walmart and Target. I started with old Star Wars sets about a decade ago when they were still valuable, moved on to classic castle, classic space... more recently elves dragons. Collectors covet many of the older themes... no one is coveting the current lines as there is always a remake or something similar right around the corner... or it's so overhoarded that you can still get it for RRP on eBay 2 years later.

It is a good amount of work... but you get to build everything so that certainly adds to the enjoyment.

[Shortbus311]

Yeah, like others have said, $30 is definitely not enough start up capital. If that is all you have though I recommend searching your local markets (Facebook marketplace, Offerup, Letgo, Craigslist, etc...) for used sets. You have to be patient to find the good values, but they are definitely out there.

When looking for used sets I always look to see what they have sold for recently on Ebay and base my decision to buy off of that. You want sets that people are buying for 2-3x what you will pay at least. And know that more than likely some pieces will be missing even if the ad says that it is 100% complete and you will need to order replacement pieces from Lego or bricklink and factor that into your cost as well.

Sent from my SM-G960U1 using Brickpicker Forum mobile app

[Ed Mack]

Do you have an eBay account?  

[SLL]

Where's The Builder?

[Sozial]

10 minutes ago, superlegolover said:

Where's The Builder?

he sent his brother $20 on joe vs dan some time ago 

[LegoNoob!]

i mean   i can spend more i  just want to be able to sell lego and profit and buy stuff i want          and i am willing to work for it thanks for all your help so far

[terrymc4677]

If you are only starting with $30 then step one would be to go to your local casino and play one hand of blackjack or take one spin on the roulette table. Double up a few times and then we can talk. If you lose it then consider yourself lucky since you’ll avoid all of the hassles that come with reselling.

[Foreman Porgy]

Reselling in general is a really tough gig. You have to basically be on call 24/7, constantly looking for deals. There are a lot of people out there nowadays that make it out to be this easy way to make money. “Made $300.00 In 1 hour today at wal mart,” is an example of some clickbait I see. You have to sell it first, you’re not guaranteed anything. You have to make yourself unique, and standout. Give your customers a reason to wanna look for you when they want to purchase something. Don’t go the extra mile..go the extra 10 miles. If your starting capital is $30.00, make sure you save $10.00 of it for shipping supplies. Make an eBay account ,and shop your living space. Find stuff you don’t want anymore, and list it. This will help you decide if you wanna get into reselling in general. Also, Go on Craigslist, go to the free stuff section, and see what you can find. $30.00 isn’t enough to get started in lego investing, but you can certainly make enough to get started by using the resources we have nowadays. You just have to be willing to put in the work. 

[dx0520]

You can sell anything, depends how long you’re willing to wait.

If you want a relatively quick flip, then you’re going to have immense challenges with $30, to say the least.

Because unless you were able to snag something like the emmet brickhead (which doesn’t come often), you’re not going to be able to compete with the more popular items (often costing more), that pop up regularly, against those with a higher budget. The bulk buyers are going to price you out completely.

Why don’t you just open an eBay store and sell cheap stuff to build up your reputation first? When I say cheap I mean sell and break even if you have to, the goal is reputation. Then, when you’ve saved enough then you can ask for more advice. I’d recommend at least $1000, which should allow you to hedge your bets for small time investors.

[bigboy61]

On 3/25/2019 at 7:59 PM, LegoNoob! said:

I was wondering  if anyone could help me out i want to learn to sell lego for profit so i can by lego to support my HUGE lego addiction            would i be possible to profit  while only spending 30$     please help me learn how to get stated

Run for the hills while you still can. As others have said, it's not as easy as it sounds. 

[Guest TabbyBoy]

I started off with buying a single 10187 VW Beetle from John Lewis back in 2008 as a present for myself after cycling from Land's End to John o' Groats. I paid £65 as it was reduced, saw the silly eBay selling prices soon after I built it (I was already on eBay selling hosepipe accessories). I then took a punt and bought all 139 that they had in stock, knowing that I could return them if I needed to. They then retired soon after, the aftermarket price skyrocketed and I've rinsed/repeated using those funds (not a penny extra) ever since. I'm one of those that won't hesitate to go all in if I see a good opportunity with minimal risk. That was the good old days, unfortunately - if it was now, I'd personally not bother.

[carini26]

So we are just going to tell him the $30 dollars he could have spent on 3x Emmet's last month would not be worth $225+ after fees today? 

Is that the plan?

[BricksBrotha]

To be fair, Emmet was sold @ Walmart for 14.99, only allowing him 2 from the initial $30 investment.

[Ed Mack]

19 hours ago, terrymc4677 said:

If you are only starting with $30 then step one would be to go to your local casino and play one hand of blackjack or take one spin on the roulette table. Double up a few times and then we can talk. If you lose it then consider yourself lucky since you’ll avoid all of the hassles that come with reselling.

Powerball is 750 million.  

[oneknightr]

2 minutes ago, Ed Mack said:

Powerball is 750 million.  

Crap. I guess I don't have to check my ticket then.

[LegoNoob!]

4 hours ago, carini26 said:

So we are just going to tell him the $30 dollars he could have spent on 3x Emmet's last month would not be worth $225+ after fees today? 

Is that the plan?          i have 80$         how far would that get me?

 

[Belac]

4 hours ago, BricksBrotha said:

To be fair, Emmet was sold @ Walmart for 14.99, only allowing him 2 from the initial $30 investment.

plus shipping for under $35 order and tax.might of only got one. then have to really decide if seller or collector. Likley never see an Emmet like situation, at least again soon. 

[LegoNoob!]

yalls       said save    i have        80$ about   to invest now

[Jackson]

Spend that $80 on a punctuation class.