A Serious Discussion about Brick Classifieds

[boxofcorey]

I just hate sifting through lists of sales. I'm willing to pay more for you to bring the sale to me.

The price of laziness!! :)

[DoNotInsertIntoMouth]

I just hate sifting through lists of sales. I'm willing to pay more for you to bring the sale to me.

The price of laziness!!

 

You need a buying and sell maid!

[boxofcorey]

You need a buying and sell maid!

Seriously, definitely a possibility. Is that an offer? Hah

I've debated giving away some of the random stuff I find in my store (see my other thread) for people to find me what I want on eBay.

[Ed Mack]

There will be a basic query system and we have talked about a tool that would notify people of certain sets and prices were matched.  Jeff is getting back from vacation tomorrow and he was working on the Classifieds last week.  As with anything, the launch version might not be as complex or feature rich as something that is a year or two old.  These types of major site additions are best done in small steps.  

[Jeff Mack]

That is a good idea - useful for a lot of things, but what I'm thinking of off the bat is when folks want to get as many sets as possible at EOL - post a wanted ad, someone finds a cache of markdowns at their Walmart, buys all of them and keeps what they want, adds a reasonable "finder's fee" that keeps the price attractive for others and fills orders on folks wanted lists.

 

 

I see what some of you are getting at, but wouldn't the costs be somewhat high at the end?  By the time you add finders fees and shipping costs, where are your profits unless you are holding onto it for a long time.

[Jeff Mack]

I don't want to scroll through 13 pages on my outdated iphone so I'll just ask... is there going to be a way on the Classifieds to post WHAT I'm looking for? Kind of like a reverse classified where I'm looking for a set and how much I'm looking to spend? The BP Classifieds version of "My Wanted List"?

 

 

Yes, you will be able to post "Want Ads" as well.  Also, if people elect to be alerted, and they have a matching set, they will be able to respond to your posting and hopefully start a transaction.

[justafrog]

I see what some of you are getting at, but wouldn't the costs be somewhat high at the end?  By the time you add finders fees and shipping costs, where are your profits unless you are holding onto it for a long time.

 

I'd bet on a site this size, lots of us live fairly "local" to each other. I find a great deal in the central valley and am going to be in the Bay Area the following weekend (which often happens my regular course of business), I can let the Bay Area wanteds know for meet-ups under bridges and exchanges of cold, hard cash and possibly chortling.

 

And, sometimes shipping fees might end up worth it, but I agree that'll be a more rare occurrence.

[Jeff Mack]

I'd bet on a site this size, lots of us live fairly "local" to each other. I find a great deal in the central valley and am going to be in the Bay Area the following weekend (which often happens my regular course of business), I can let the Bay Area wanteds know for meet-ups under bridges and exchanges of cold, hard cash and possibly chortling.

 

And, sometimes shipping fees might end up worth it, but I agree that'll be a more rare occurrence.

 

Well I think your concept can work with this  "Want Ad" approach and it will just be a description of what you are looking for, just like a real classified ad in a newspaper.  People will be alerted to the set(s) that you listed and then you would be contacted, figure out logisitics, price (include finders fee if needed) and then if agree on both ends, it would just turn into a normal transaction the site with feedback, etc.  

 

The bottom line, the system will work well for all sorts of communication and should help people find the sets they are looking for.

[Blackjack]

I'm not an investor and wouldn't use BC, but I agree with some others who say that it would be hard to turn a good profit, because everyone here is in the know with prices and so on.

[Ed Mack]

I'm not an investor and wouldn't use BC, but I agree with some others who say that it would be hard to turn a good profit, because everyone here is in the know with prices and so on.

You will be surprised by the transactions that will take place because of the Classifieds.  For many people on the site, it will be a FREE or very cost effective way to promote their listings or to trade with other members.  At the very least, it will work as a wonderful bulletin board that will help people find new friends and trade partners.  I have to say, Jeff has been working hard to get it going and visually speaking, it is unlike anything on the market.  The listings look wonderful and I can see people getting addicted to scrolling through them.  There has been so much other stuff that has been delaying this, so I feel bad pimping it, but it really looks cool.

[Quacs]

I'm not an investor and wouldn't use BC, but I agree with some others who say that it would be hard to turn a good profit, because everyone here is in the know with prices and so on.

 

Profit would be hard to come by if you're procuring merchandise at "market" prices and trying to resell it shortly thereafter, yet most savvy resellers aren't procuring their inventory (new or used sets) at market prices.  Keep in mind market pricing doesn't mean MSRP, it's what the market is paying for it, i.e. BP value.

 

Also, BC will provide the seller a 9% delta (savings from eBay fees) that can be used to discount from eBay pricing to entice a bid if the seller so chooses.

 

Given the relatively cheap list prices (in some cases "free" with Brickpoints), sellers will easily be able to post listings for their inventory.  If they price their merchandise correctly, it will sell.

[brickmaster]

I'm not an investor and wouldn't use BC, but I agree with some others who say that it would be hard to turn a good profit, because everyone here is in the know with prices and so on.

I guess this means that someone selling a 10212, or a 10217 that is EOL can't make a profit using this service? I think you are wrong about this and I don't think you are opening up your mind as to why people will use this site or where the real benefits will come from. I am looking forward to seeing and learning more about it. I am sure it is quite involved to build something like this.

[Blackjack]

I guess this means that someone selling a 10212, or a 10217 that is EOL can't make a profit using this service? I think you are wrong about this and I don't think you are opening up your mind as to why people will use this site or where the real benefits will come from. I am looking forward to seeing and learning more about it. I am sure it is quite involved to build something like this.

 

I am saying that the target market for most of the sellers on this site are uninformed, rabid collectors, and that you would make less profit selling to someone who is a competent Lego fan/investor. I do think that it would be an interesting tool for trading equally valued sets, lots, and minifigures between collectors on the site. I am probably wrong about much of this, but this is my current outlook on BC as laid out, and it is subject to change.

[Fcbarcelona101]

I've had a couple of Brickpicker members buy some used/retired sets from me on ebay, so I really have no doubt there is a market here waiting to be exploited( in a good sense). In fact, I have also sold a couple of sets directly here on BP through PM from people that are traditionally considered investors. I think some people forget most of us actually like to collect our own sets...

[Diabolos80]

I agree with Barca. BC will be ideal for filling gaps in my collection, if I can ever stop spending my money on investments instead lol.

[DoNotInsertIntoMouth]

I am saying that the target market for most of the sellers on this site are uninformed, rabid collectors, and that you would make less profit selling to someone who is a competent Lego fan/investor. I do think that it would be an interesting tool for trading equally valued sets, lots, and minifigures between collectors on the site. I am probably wrong about much of this, but this is my current outlook on BC as laid out, and it is subject to change.

 

I thought this too at first, but I have changed my mind. Some things, yes this will be the case.

 

However, for items that may not always have a ton of people looking for them, this is a target audience. And also, people here place more of a premium on mint condition type stuff, etc. so I think you will see prices range more in that direction.

[Diabolos80]

It's not like you can list stuff on ebay at 20% over market value and sell consistently. Your pricing there has to be competitive, regardless of buyer expertise.

The only difference on BC will be the 8% you'll save on fees.

The better question is, what sets will sell here, considering parents and small kids won't be shopping here?

[boxofcorey]

First off I'm SUPER excited about this, but I think we need to build up the MoC crowd and the general collectors on this site more... especially when the Classifieds get launched.

 

I've always been a collector first but I feel like an outsider will view the forums as giving the backseat treatment to those who aren't investing or reselling over all else. I can't speak to how many of those people lurk here, but that segment needs to be nurtured more if there is going to be a bigger market to sell these sets to. There are a ton of people, like myself, with a certain disposable income that will buy the older sets at their correct values because they can appreciate it displayed, playing with, etc.

 

I would love to see an expanded MoC forum, or something similar, that could bring a whole new segment of people to THIS site instead of them going to the other ones... the other sites can't compare to the data/resources here on the investing side, but if you can get those people to bring their normal LEGO discussions from their message boards to here instead, I think the Classifieds idea can take off even more.

 

A more diverse group of people, a better marketplace. I could be completely off here, as I have zero idea about the people who lurk and don't participate in the forums...

[boxofcorey]

It's not like you can list stuff on ebay at 20% over market value and sell consistently. Your pricing there has to be competitive, regardless of buyer expertise.

The only difference on BC will be the 8% you'll save on fees.

The better question is, what sets will sell here, considering parents and small kids won't be shopping here?

 

There are plenty of (informed) parents here, and I'm sure more than a handful are shopping for their kids.

 

I have a list of old sets that I need to buy for my kid that I am waiting on Classifieds to buy from, because I feel much more comfortable buying them from people here than eBay. Whether that is misguided or not, I don't know yet.

[Diabolos80]

There are plenty of collectors here, I'm sure. A lot of them lurk probably because a few 'hardcore' investors take every opportunity to tell them they couldn't possibly understand Lego unless they spend thousands every month to bloat their inventory.

This hasn't been as big an issue lately, but I'm sure we'll see it again with the next bubble thread...

But you're right corey, a more diverse market is a healthier market. The Macks have stated their desire to attract every kind of Lego enthusiast, not just resellers.

[justafrog]

The biggest problem any new selling site has is attracting traffic. That traffic is already here. I don't see any reason why the classifieds won't work splendidly, especially with the off-eBay discounts that can be offered.

[Jeff Mack]

We are getting real close. Sometime over the next week we will probably release an update as to how it will work/cost for posting listings, rules of the site, a feature list of what you will be able to do with it and thoughts on how we think it will help your business. I am really looking to release it to the mods shortly to start using it and then may ask a few known eBay sellers to help try out a few features to make sure its working. The feature will definitely be live in October. I have a business trip to the UK at the end of this month and will want to take feedback I get from the mods/etc to make changes. We will then release to everyone else.

While this has taken longer to do, I am actually very happy that it did. I personally like what I have done now much more than where it was quite a few months back. Hopefully everyone else will think so.

[StompingFreak]

It depends on how much, an how much promotion we get. But this is a really great idea. Stomping

[Jeff Mack]

It depends on how much, an how much promotion we get. But this is a really great idea. Stomping

 

I promise I will do my fair share of promoting, but I also hope that members will help spread the word by sharing their listings as well.

[akohns]

We are getting real close. Sometime over the next week we will probably release an update as to how it will work/cost for posting listings, rules of the site, a feature list of what you will be able to do with it and thoughts on how we think it will help your business. I am really looking to release it to the mods shortly to start using it and then may ask a few known eBay sellers to help try out a few features to make sure its working. The feature will definitely be live in October. I have a business trip to the UK at the end of this month and will want to take feedback I get from the mods/etc to make changes. We will then release to everyone else.

While this has taken longer to do, I am actually very happy that it did. I personally like what I have done now much more than where it was quite a few months back. Hopefully everyone else will think so.

Thanks for all the hard work Jeff. Looking forward to it!