Getting rich selling Lego?

[spener90]

I still would rather have 400 haunted Houses than 400 Crawlers, which I will never have 400 Haunted House, but I will have 50-60 of them. with the double points I got 7 since Tuesday all $30-40 off.

In my opinion, I think you are completely wrong on this one.  Not saying that the Haunted House will perform poorly, but it will likely be out for another year.  Another thing to think about.  Also, we always mention the Compound Annual Growth Rate, the Crawlers will perform well, simply sell them before the Haunted House retires.  Thus eliminating your need to make a decision on which to have.

 

I do think that the long term price of the HH might be higher, but remember, CAGR is where it's at!

[@rtisan]

6 of one, half a dozen of another.  No matter how you want to look at the points, you're getting 10% back on money you had to spend.  If you want to account for all the discount on your current purchases and put none toward the purchases that originally earned you the $115 in points, that's up to you.  But the bottom line is that you aren't really getting $30-$40 off each set because those points cost you money to get in the first place.  

Fair point. No you aren`t getting the money taken off "cleanly" with no strings attached, but you are getting a discount on a future purchase. If I bought 5 HH for $900, and got $90 rebate value to point towards #6, which I then buy for $90, I could simply take an average of the 6 sets and say that I saved $15 on each (final cost would be $165 + taxes). Ya I had to spend 100% to get 5% (or in this case 10%) back, but that adds up to a 50% discount on my 6th set. If I bought 10 at full price, I`d receive my 11th free. Though it is small compared to clearance sales, no one can legitimately say that you aren`t getting a discount even though you had to initiate a purchase first in order to achieve it. 

 

 

 

In my opinion, I think you are completely wrong on this one.  Not saying that the Haunted House will perform poorly, but it will likely be out for another year.  Another thing to think about.  Also, we always mention the Compound Annual Growth Rate, the Crawlers will perform well, simply sell them before the Haunted House retires.  Thus eliminating your need to make a decision on which to have.

 

I do think that the long term price of the HH might be higher, but remember, CAGR is where it's at!

 

CAGR = Get the best return in the shortest amount of time so you can put the money into something else faster. I like it! 

[MartinP]

I think double points is good only if you live in a State that doesn't have to pay sales tax, otherwise, the double points will only be good enough to offset the sales tax.  Of course, it's better than nothing.

That is very true. The sales tax where I live is 8%, so double VIP points does help a lot when reducing the price, but it is just under the normal retail.

[Spartikis]

I do agree that you arent going to get rich doing it but at the same time if you sold legos 8 hours a day 5 days a week you could probably make a decent middle class living off of it, especially if you ran it out of your house in like a basement or garage to keep costs low.

 

I personally have tried "flipping" lego sets, but found that at an avg of $10 or less per hour i spent it wasn't worth my time, especially when i am making $30+ an hour as a desk job as an engineer with great benefits. I also tried running a parts selling business on bricklink but again it was time consuming plus the capital cost to acquire a massive selection of pieces was crazy. In the end i settled on lego "Investing", as most people her do i buy popular sets near being retired at greatly reduced clearance prices, store them in a closet for 1-2 years and then sell them for a 100-300% profit.

 

Im not making enough to quit my day job or take lavish vacations but it covers the expense of my LEGO hobby and there is usually enough cash left over to help with other hobbies like playing in a mens hockey league. Plus it keeps the wife off my back, my buddies are always pleading with their wife for a few bucks to buy something, i just say "Im buying this and ill sell a lego set for it"

[justafrog]

 Plus it keeps the wife off my back, my buddies are always pleading with their wife for a few bucks to buy something, i just say "Im buying this and ill sell a lego set for it"

 

Just a brief side tangent: I don't get why people run their marriages like this. Every man, woman, and child in this house gets a sum of money handed to them each month for whatever personal spending (clothing, hobbies, whatever) they wish to do with it. They can save up that sum for something big, they can fritter the sum away on lots of small things.

 

Married people: make a family budget that, unlike our government, matches your income and stop bickering about who bought too many lattes last month and who wants too many Lego this month. It's so simple it Just Might Work!

 

(Tangent over.)

[Anakinisvader]

My LEGO sales paid for my wifes Mercedes. Ok, its not a Mercedes, its a Dodge Caravan and the LEGO money only puts gas in it.