Retiring Soon - open speculation

[csingh]

Wow and lol.

I was just asking so that I can buy 1. No interest in buying hundreds of them.

Was keen to pick one up on sale before it retires. Happy to pay full rrp so I don't miss out.

[Shortbus311]

Wow and lol.
I was just asking so that I can buy 1. No interest in buying hundreds of them.
Was keen to pick one up on sale before it retires. Happy to pay full rrp so I don't miss out.

Use a credit card that gives rewards points or cash back, use Rakuten for their 2.5% cashback from Lego, and get 5% in VIP points from Lego Shop at Home... then you have your own 10% off sale (If you pay off your credit card immediately). Even better if you wait for a good gift with purchase promo.

[coelian]

For me the key constraint is space, I did slowly accumulate some sets like Hall of Armor, Hogwarts express, deep space rocket, etc over the last year and since they are not likely to go I will sell them starting from now to christmas. However for those that are possibly retiring, I've doubled efforts to accumulate some of them.

Next month will mark my first year of selling, I'm happy to say that I've sold more than 500 sets big and small plus managed to get a system in place. Best of all, most of the sets are not in the house so no clutter which keeps the wife happy. The bad thing is that my second storage space is filling up fast. My goal for the second year is to optimise profits based on analytics and less of using gut feel to decide what to buy.

[$20 on joe vs dan]

1 hour ago, csingh said:

Wow and lol.

I was just asking so that I can buy 1. No interest in buying hundreds of them.

Was keen to pick one up on sale before it retires. Happy to pay full rrp so I don't miss out.

this is a resellers forum so the underlying assumption or at least a key consideration regarding most questions on purchasing sets is to buy multiple for resell.  And there's quite a spread between 1 and 100 that covers every type of collector and reseller. 

If the Diner goes on sale for 30% off or maybe 40% off...are you seriously just buying one? No one here...not a single member thought they were going to be a LEGO reseller when they were in school...I almost guarantee it.

[raindog]

4 hours ago, LegoSteve said:

One last thing for the new resellers, why are you buying the sets that you are buying? Is it because others have told you what sets you should be buying or is it because you did your due diligence and decided on specific sets? I ask because there are sets I see new resellers buy that I wouldn't touch if this was my first year buying.

Preach it, Brother, preach it!

[psychospin]

5 hours ago, LegoSteve said:

One last thing for the new resellers, why are you buying the sets that you are buying? Is it because others have told you what sets you should be buying or is it because you did your due diligence and decided on specific sets? I ask because there are sets I see new resellers buy that I wouldn't touch if this was my first year buying.

Hi everyone.

As a new reseller, I'm going to answer this post essentially to share my thoughts and gauge the opinions of the much more experienced than me community.

I started thinking about buying some sets to resell after I saw people rushing to a 50% off promotion in a supermarket (literally people running as soon as the doors opened). I did too, but I was going for other types of toys that my son liked at the time. I hadn't introduced Lego to him yet, but I did soon after, and he now loves it and we build it and have fun together.

So at the end of 2018 I started to look out for discounts on Lego and thinking about how to work around it to invest.

My thoughts were (and still are):

- I'll only buy stuff that I understand, meaning that things I wouldn't buy for myself/my son, I won't be investing in without understanding things clearly (exception to the Heartlake Hospital), and that requires time

- I'll buy stuff only when they have a significant discount, especially if they've been on the shelves for some time

- I'll buy sets for us plus 1 or 2 to keep and resell (my investment budget is very small at the moment). And if I end up not selling something, it means more Lego for us to build

- I'm from a peripheral small European country, so my local market is tiny and international shipping costs are high. Although there are people here doing it, there isn't a community or even a forum about investing in Lego, so I need to evaluate things by myself.

So with this in mind, I've been buying mostly sets targeted at children, like the City line. And so far all the sets I've sold (only 3), were bought because someone's child wanted them.

With little to no information about the Lego community in my country, it's hard to see if themed sets are in any kind of demand, like Harry Potter, or Brickheadz, for example.

Either way, I've been reading, watching videos and researching, and I've pinpointed some targets I'd like to dive into in the future when the discounts return. Trains, airplanes and modulars. I'm especially looking at the Diner especially because I'd love to have it for myself.

What do you guys think of my strategy? Do you have any recommendations for someone in my geographic predicaments?

Lastly, I can get the 60228 Deep Space Rocket Launch Control for 60€ (original price: 110€). I got one for my son and we enjoyed the build and features, but I'm unsure if, all things taken into account, it's a worthy investment. What do you guys think?

Cheers

Edited September 15, 2020 by psychospin
typo

[nolan808]

1 hour ago, raindog said:

 

Diner came back on John lewis. Looked as if they had a fair bit of stock, was gone in 30 mins though but you could see how many were viewing it. 20 percent off that set a pretty good deal at this current time. John Lewis had it now does Lego get it back online, or maybe John Lewis just found some stock at the back. 

[Voltron]

36 minutes ago, psychospin said:

Hi everyone.

As a new reseller, I'm going to answer this post essentially to share my thoughts and gauge the opinions of the much more experienced than me community.

I started thinking about buying some sets to resell after I saw people rushing to a 50% off promotion in a supermarket (literally people running as soon as the doors opened). I did too, but I was going for other types of toys that my son liked at the time. I hadn't introduced Lego to him yet, but I did soon after, and he now loves it and we build it and have fun together.

So at the end of 2018 I started to look out for discounts on Lego and thinking about how to work around it to invest.

My thoughts were (and still are):

- I'll only buy stuff that I understand, meaning that things I wouldn't buy for myself/my son, I won't be investing in without understanding things clearly (exception to the Heartlake Hospital), and that requires time

- I'll buy stuff only when they have a significant discount, especially if they've been on the shelves for some time

- I'll buy sets for us plus 1 or 2 to keep and resell (my investment budget is very small at the moment). And if I end up not selling something, it means more Lego for us to build

- I'm from a peripheral small European country, so my local market is tiny and international shipping costs are high. Although there are people here doing it, there isn't a community or even a forum about investing in Lego, so I need to evaluate things by myself.

So with this in mind, I've been buying mostly sets targeted at children, like the City line. And so far all the sets I've sold (only 3), were bought because someone's child wanted them.

With little to no information about the Lego community in my country, it's hard to see if themed sets are in any kind of demand, like Harry Potter, or Brickheadz, for example.

Either way, I've been reading, watching videos and researching, and I've pinpointed some targets I'd like to dive into in the future when the discounts return. Trains, airplanes and modulars. I'm especially looking at the Diner especially because I'd love to have it for myself.

What do you guys think of my strategy? Do you have any recommendations for someone in my geographic predicaments?

Lastly, I can get the 60228 Deep Space Rocket Launch Control for 60€ (original price: 110€). I got one for my son and we enjoyed the build and features, but I'm unsure if, all things taken into account, it's a worthy investment. What do you guys think?

Cheers

European Market is very different from the North American Market, the majority of posters here are from USA,so take alot of what is said here which a pinch of salt I.e. super heroes and marvel dont appreciate as much in EU, whereas technic will perform very well in EU, not as much in US.

Also don't feel bad for not owning a warehouse / fork truck. As you'll find alot of people here saying they bought 100 of this set and 300 of that, but that isn't the norm, they are the exception. Sure there are some big players here, but the average Joe is just buying an extra set to stash away and sell on ebay 2 years later.

Best thing is just decide what your selling strategy will be i.e. quick flip / part out / buy and hold etc, decide on your sets, use the retirement lists as a guide, and always try to buy at discount. 

[coelian]

1 hour ago, raulaco said:

Diner came back on John lewis. Looked as if they had a fair bit of stock, was gone in 30 mins though but you could see how many were viewing it. 20 percent off that set a pretty good deal at this current time. John Lewis had it now does Lego get it back online, or maybe John Lewis just found some stock at the back. 

Question about john lewis, did they ship lego internationally prior to covid19? I thought they did but don't seem to ship internationally now.

[joneyyy1981]

1 hour ago, raulaco said:

Diner came back on John lewis. Looked as if they had a fair bit of stock, was gone in 30 mins though but you could see how many were viewing it. 20 percent off that set a pretty good deal at this current time. John Lewis had it now does Lego get it back online, or maybe John Lewis just found some stock at the back. 

i got 5 cartons last time they had it,& went a bit mad again this morning. on the box it said 1 of 40, so i'm guessing they had 80 in all, that paired with smyths restock date of 11th-18th sept looks like this could be the final uk restock. hopefully anyway....

20% off, back up that lorry.

Edited September 15, 2020 by joneyyy1981

[Gonkalin]

3 hours ago, psychospin said:

Hi everyone.

As a new reseller, I'm going to answer this post essentially to share my thoughts and gauge the opinions of the much more experienced than me community.

I started thinking about buying some sets to resell after I saw people rushing to a 50% off promotion in a supermarket (literally people running as soon as the doors opened). I did too, but I was going for other types of toys that my son liked at the time. I hadn't introduced Lego to him yet, but I did soon after, and he now loves it and we build it and have fun together.

So at the end of 2018 I started to look out for discounts on Lego and thinking about how to work around it to invest.

My thoughts were (and still are):

- I'll only buy stuff that I understand, meaning that things I wouldn't buy for myself/my son, I won't be investing in without understanding things clearly (exception to the Heartlake Hospital), and that requires time

- I'll buy stuff only when they have a significant discount, especially if they've been on the shelves for some time

- I'll buy sets for us plus 1 or 2 to keep and resell (my investment budget is very small at the moment). And if I end up not selling something, it means more Lego for us to build

- I'm from a peripheral small European country, so my local market is tiny and international shipping costs are high. Although there are people here doing it, there isn't a community or even a forum about investing in Lego, so I need to evaluate things by myself.

So with this in mind, I've been buying mostly sets targeted at children, like the City line. And so far all the sets I've sold (only 3), were bought because someone's child wanted them.

With little to no information about the Lego community in my country, it's hard to see if themed sets are in any kind of demand, like Harry Potter, or Brickheadz, for example.

Either way, I've been reading, watching videos and researching, and I've pinpointed some targets I'd like to dive into in the future when the discounts return. Trains, airplanes and modulars. I'm especially looking at the Diner especially because I'd love to have it for myself.

What do you guys think of my strategy? Do you have any recommendations for someone in my geographic predicaments?

Lastly, I can get the 60228 Deep Space Rocket Launch Control for 60€ (original price: 110€). I got one for my son and we enjoyed the build and features, but I'm unsure if, all things taken into account, it's a worthy investment. What do you guys think?

Cheers

I think you're on the right track. Only difference is that I try to focus on sets that appeal to adults instead of kids. Adults have the money and would be more willing to part with it for an expensive set for themselves versus their kids. Just my opinion. I've been doing this for around 10 years. Seems to be working pretty good for me.

[LegoSteve]

Serious question, what is so attractive about buying the Diner for resell? That set is ranked at over 1000 on Amazon and there really is no discount. There are other sets that have a better ranking and are discounted. I'm not trying to beat up on the people who are stacking the Diner. If that's what you like and are happy with then god bless! Isn't it the goal of a reseller to get to the finish line ie. The sale of a set the quickest way possible? Is the Diner the quickest way?

[spener90]

5 minutes ago, LegoSteve said:

Serious question, what is so attractive about buying the Diner for resell? That set is ranked at over 1000 on Amazon and there really is no discount. There are other sets that have a better ranking and are discounted. I'm not trying to beat up on the people who are stacking the Diner. If that's what you like and are happy with then god bless! Isn't it the goal of a reseller to get to the finish line ie. The sale of a set the quickest way possible? Is the Diner the quickest way?

Somewhat agree, but there are probably a lot of people caught up in the almost immediate success of the Parisian. Just due to the theme, it is still almost a guaranteed successful reseller post retirement.

[Voltron]

2 minutes ago, LegoSteve said:

Serious question, what is so attractive about buying the Diner for resell? That set is ranked at over 1000 on Amazon and there really is no discount. There are other sets that have a better ranking and are discounted. I'm not trying to beat up on the people who are stacking the Diner. If that's what you like and are happy with then god bless! Isn't it the goal of a reseller to get to the finish line ie. The sale of a set the quickest way possible? Is the Diner the quickest way?

I'm not a big time player, I do buy and hold and for me (UK based, ebay seller) diner seems like an easy option:

1. High probability of retiring this year. Golden rule is to buy late as possible and at discount, can currently get this for 20% off at john lewis and subsequently smyths.

2. Will have a shelf life of approx 2 years, pretty good for a modular.

3. "Fast" seller on ebay I.e. more than 1 set sold a day.

4. May not be the best investment, but buying at 20% off, can't see you not clearing £50-100 when holding for at least 2 years.

I only have 2 sets myself, as dont have space for more, and rather concentrate more on ideas / HP, as better returns on smaller sets for me personally.

[dx0520]

8 minutes ago, LegoSteve said:

Serious question, what is so attractive about buying the Diner for resell? That set is ranked at over 1000 on Amazon and there really is no discount. There are other sets that have a better ranking and are discounted. I'm not trying to beat up on the people who are stacking the Diner. If that's what you like and are happy with then god bless! Isn't it the goal of a reseller to get to the finish line ie. The sale of a set the quickest way possible? Is the Diner the quickest way?

May or may not be the quickest way, but modulars are a collection that is a SURE way to profitability.

It’s always at least 50% margin from its RRP a few months after retirement.

No matter how saturated it was, there are always new modular fans that have missed out on older sets.

[MotorCityMuscle]

3 minutes ago, LegoSteve said:

Serious question, what is so attractive about buying the Diner for resell? That set is ranked at over 1000 on Amazon and there really is no discount. There are other sets that have a better ranking and are discounted. I'm not trying to beat up on the people who are stacking the Diner. If that's what you like and are happy with then god bless! Isn't it the goal of a reseller to get to the finish line ie. The sale of a set the quickest way possible? Is the Diner the quickest way?

i don't have the ability to stack many of any set for that matter, but it's on the chopping block, is a modular and the buy in at 169 isn't bad.

 

[BrickBuilderX]

Have any of you accessed the John Lewis 20% off sale you have spoken about in the UK?

I'm looking at the website and everything is full price. 

[cladner]

33 minutes ago, LegoSteve said:

Serious question, what is so attractive about buying the Diner for resell? That set is ranked at over 1000 on Amazon and there really is no discount. There are other sets that have a better ranking and are discounted. I'm not trying to beat up on the people who are stacking the Diner. If that's what you like and are happy with then god bless! Isn't it the goal of a reseller to get to the finish line ie. The sale of a set the quickest way possible? Is the Diner the quickest way?

length of production.  if it retires in december it will have been out for only 2 years 10 months, same as brick bank, only town hall having a shorter life.

 

 

[Voltron]

6 minutes ago, BrickBuilderX said:

Have any of you accessed the John Lewis 20% off sale you have spoken about in the UK?

I'm looking at the website and everything is full price. 

Discount code MYLEGO20, minimum spend of £200, need to sign up to the myjohnleiws account online, takes 2 mins 

[BrickBuilderX]

1 minute ago, Voltron said:

Discount code MYLEGO20, minimum spend of £200, need to sign up to the myjohnleiws account online, takes 2 mins 

Thank you for that information, it's much appreciated!

[SpaceFan9]

1 hour ago, Gonkalin said:

Only difference is that I try to focus on sets that appeal to adults instead of kids. Adults have the money and would be more willing to part with it for an expensive set for themselves versus their kids.

 

Don't underestimate the large number of grandmas with money to spend on grandkids.

[Gonkalin]

3 minutes ago, SpaceFan9 said:

Don't underestimate the large number of grandmas with money to spend on grandkids.

Yes. There is that as well. I can never get over how stupid rich some people are. 

[coelian]

4 minutes ago, SpaceFan9 said:

Don't underestimate the large number of grandmas with money to spend on grandkids.

true to that, I recently sold a Samurai X Cave Chaos to a grandma buying a birthday gift for her grandson for a pretty penny. where I live most people do an internet transfer but I had to wait a few days for her to do a postal transfer. grandmas rock! I sure miss mine. 

[Shortbus311]

I kinda agree with LegoSteve. I haven't bought any Diners yet, and don't really plan to unless they get a 30% Black Friday sale with a GWP. Imo, there are much better smaller sets to get that will appreciate faster and take up less storage space.

[$20 on joe vs dan]

2 hours ago, LegoSteve said:

Serious question, what is so attractive about buying the Diner for resell? That set is ranked at over 1000 on Amazon and there really is no discount. There are other sets that have a better ranking and are discounted. I'm not trying to beat up on the people who are stacking the Diner. If that's what you like and are happy with then god bless! Isn't it the goal of a reseller to get to the finish line ie. The sale of a set the quickest way possible? Is the Diner the quickest way?

It's like a major marathon...those up front are in it to win it...whereas most are doing it for varied reasons...some to just happy to participate and not worried about their finish times.