Hey Everyone!

[Coops123]

Hey,

Just want to introduce myself quickly. I'm from sunny England and have been a big fan of Lego since I was a kid. I've been trying to get my children into Lego to use them as an excuse to buy more but its not working. We went to Legoland Denmark last year and visited the Lego House and really enjoyed it. I think me and my wife had more fun than the kids.

My wife was recently looking on Amazon and she came across the Lego Friends Central Perk set (21319) and asked me if it would be a good investment to buy to hold onto for a future date. This then got me thinking about investing in Lego. I also saw someone on youtube who had The Simpsons house set (71006) which he purchased a few years ago and stored away, he subsequently sold it for nearly 3 times the purchase price. Now I understand this is not going to happen all the time but I did find it interesting. The only fear I have is how to stop myself from playing with the sets.....

So in a nutshell, I like the idea of investing in Lego however I am apprehensive so thats why I joined here to do a bit more research and if I dont end up investing maybe I can find a few cheap sets to treat my kids (Me) too.

Thanks

Coops 

[$20 on joe vs dan]

1 hour ago, Coops123 said:

Hey,

Just want to introduce myself quickly. I'm from sunny England and have been a big fan of Lego since I was a kid. I've been trying to get my children into Lego to use them as an excuse to buy more but its not working. We went to Legoland Denmark last year and visited the Lego House and really enjoyed it. I think me and my wife had more fun than the kids.

My wife was recently looking on Amazon and she came across the Lego Friends Central Perk set (21319) and asked me if it would be a good investment to buy to hold onto for a future date. This then got me thinking about investing in Lego. I also saw someone on youtube who had The Simpsons house set (71006) which he purchased a few years ago and stored away, he subsequently sold it for nearly 3 times the purchase price. Now I understand this is not going to happen all the time but I did find it interesting. The only fear I have is how to stop myself from playing with the sets.....

So in a nutshell, I like the idea of investing in Lego however I am apprehensive so thats why I joined here to do a bit more research and if I dont end up investing maybe I can find a few cheap sets to treat my kids (Me) too.

Thanks

Coops 

Welcome. 

your question overall is pretty open-ended; so let me walk you through your example:

Buy 1 Central Perk set for $60 (plus tax) = ~$64 (buy-in)

Let's assume x3 = $192

Minus fees (10% ebay and 3% Paypal) = $167 (this can be avoided w/ a local sale)

If paying for shipping (minus $15) = $152

So a profit of  = $88 (about 140%)

Not bad, and the above is what most would consider the "Best case scenario" and not out of the question for such a popular set...but keep in mind it's still available at LEGO stores and the "clock" really starts after the set's retirement which may be another year or so...so how do you feel abut holding on to it for 1-3 years before selling?

[exracer327]

Just one thought re: LEGO prices and profits right now.

LEGO prices are going through the roof due to people staying home because of the Coronavirus.  So many on here are seeing huge profits from selling, but I think everyone would agree, this is an anomaly.

 

As $20 on Joe said, you'll need storage space and climate control.  Cardboard doesn't react well in certain environments.  I have two dehumidifiers where I store my LEGO (basement).

If you haven't already, check the videos, especially the one on shipping.  That video alone helped me a ton.  I changed from using used boxes to buying specific sized boxes for the LEGO sets I was selling.  The shipping was so much more economical than what I had been trying to do.  Shipping air hurts your bottom line... a lot.

[Coops123]

I totally agree with both your comments.

I am not looking to buy a large quantity of sets, just a select few that have a higher chance of making a profit on. This would make having the correct storage easier and also less chance of me wanting to open and build them. Now I know trying to find the best sets to keep for reselling will be difficult however I suppose that's part of the fun and holding onto it until the time comes is not a problem, just when will be the best time to sell them.

Any advice on what set could be the best one to start off with? Any advice on used Lego?

What set did you first purchase to sell on?

Thanks