Finish sets or sell off, need opinions

[mightycaseyatbat]

Greetings fellow pickers!

 

As I mentioned in my introduction post, my Lego fever began running rampant last year when my nephew dug out my old Black Monarch castle last year.

 

I decided I'd purchase a large lot and begin collecting again. I bought a 20lb. lot of assorted colors from eBay. After sorting through and figuring out what I had, it turns out that I had about 80% of set 6210 (Jabba's Sail Barge) and about 40% of set 6209 (Slave I 2nd Edition). None of them came with the minifigs, but I did eventually track those down. I was mortified at how much the minifigs were. That being said, these are 2 iconic sets, and I have them proudly displayed on my desk at work after finishing them off.

 

I came to two conclusions. One, don't buy large lots on ebay since shipping was just awful. Two, maybe there are other outlets. So I checked Craigslist and a buddy at work led me to ShopGoodwill. Luckily, there's a Goodwill store in my city, so I can buy from there and pick up the lots to eliminate shipping. They do however charge tax and lot fees, so it's not scotch free.

 

So, I began to study and follow lot sales on Goodwill. I wouldn't purchase anything that I didn't recognize parts from a particular set so I wouldn't end up with a lot of just bricks that don't belong to something I'm collecting.

 

This was a good thing and a bad thing. I found a lot of partial sets and some minifigs here and there. Prices weren't bad. Generally ranging from $0.02 to $0.08 per pound. It involves a lot of luck. Sometimes there's minifigs, sometimes there's not. Sometimes the pieces are in great shape, sometimes they aren't. Plus, there are other people to bid against. Then there's also the fact that it's a lot of Legos laying around the bonus room that the wifey wasn't thrilled about having.

 

Fast forward to now. I've sorted out and put in part lists on BrickLink for around 50 sets that I have anywhere from 30% complete to 95% complete. I have them in freezer bags stored in storage bins to keep things tidy.

 

So, now, my question to you guys.

 

One, how do secondary used sets sell? I mean most of these are in good condition. There are surface scratches on some parts. Not bad though. Any parts that have indentions or bad marks or teeth bites, etc., I just toss from the get go. I've washed and sanitized parts. In other words, not mint condition, but maybe good to great condition. I've been lucky to find a great deal of minifigs. Some sets more than others. So I can finish some sets off rather cheaply. Some, not so much. The shipping/handling fees kill me a bit on BrickLink, although I have found some local sellers that I can meet and waive those fees.

 

Secondly, should I complete all these sets and try to sell them as used on the secondary market? It's hard to tell how much it'd cost to finish them out as I'm still sorting through pounds of lots. I've meticiously sorted by color. Then basically look up said part and see if it belongs on my wanted list and to which set it belongs. So, it's taking a while to find out what I truly have and what I truly need to buy to finish off the sets.

 

Thirdly, the time problem. I don't have a lot of it. I have a 2.5 year old that consumes my time until he goes to bed. I generally work anywhere from 42-45 hours a week (on occasion 50). And we have another baby due in August (also a boy). So, I can try to keep the bonus room tidy and spend 30 minutes to an hour a week continuing to sort what I have. OR, I can just pack everything up and sell as a mega-lot on eBay/Craigslist and explain what I have.

 

I will note, that I'd like to finish off the sets. I'd like to keep a few here and there and save because they are iconic SW sets for the most part. I am also working on some Harry Potter, Castle, Pirates, Indiana Jones and modulars (I have a little over 60% of Cafe Corner). 

 

I've recently also began to assemble a shadow-box to store some of the minifigs in that I'd like to keep. I figure in the end-game that I'd like to sell off some sets and just get the minifigs that I want and some that are rare and just stockpile those. Keep most in storage for years to come and keep a few on display.

 

I'm just curious as to what other people would do that are in my situation.

 

Sorry for being so long-winded, but I wanted to go into detail with what I'm working with and get some honest opinions.

 

Thanks everyone for your time and attention.

Best Regards,

mightycaseyatbat

[exciter1]

If I have loose sets that I plan on flipping for significant $$$, I like to complete them first.  If they are smaller unpopular sets, they may not be worth the time or hassle.  You can bundle up a few of those incomplete sets and sell them as a lot to at least get something out of them.

[mightycaseyatbat]

Thanks for the reply exciter1!

Yeah, I did mean to mention more about that. I realized it after I hit the post button.

So I've figured out what I can build. If it's worth is under $30, I'll just pass. With the exception of some Harry Potter sets which I plan to group in a lot an try to sell.

 

For example. I have 92% of the 7127 (Imperial AT-ST). I'd be lucky to get a $20 return. Since I didn't have Chewie (~$6 with shipping), I deemed it not worth my time. So I sorted those parts out to some Harry Potter stuff I was working on. Some don't belong, so those will go in the "I don't need these" pile that will eventually be a large lot for eBay). Some pieces are specific to the set so those will eventually go to my BrickLink store.

 

I also have about 95% of the 8085 (Freeco Speeder). I actually have the minifigs on this. Recent eBay auctions have it at $13-$16. So, I see it worth my time to try to sell. So, I'll just keep those minis in my shadow boxes for display and try to re-use those pieces elsewhere. Again some pieces will go in the store, others in the lot for eBay.

Most of the sets I'm working on range from $40-$80 with a few being $100+.

50 sets at $50 apiece is a nice vacation though! Although as I said not every one is worth $50. Since I pick and choose what lots to buy I've been able to concentrate some that are decent sets to collect. I guess it'll be easier to gauge how much money I will need to spend to finish off sets once I've sorted through the gallons to see what belongs and what doesn't!

Cheers!


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[mightycaseyatbat]

Plus... I'm still going to have to spend to finish off said sets, so it's not as though I have a bunch of 100% sets laying around!

Sent from my iPhone using Brickpicker

[brickelements]

mightycaseyatbat,

 

The method you descibed is also part of my portfolio plan.  I enjoy buying large lots if they have a lot of near complete sets.

I look for known HTF pieces that make or break any given set.  As you eluded too figures play an important role in completion and can often command a substantial portion of the sets value.

 

Personally I enjoy the Pirates 1 theme from the late 80's to early nineties.

I look for lots with all sails needed, any rare figs like the Brown vested one in 6277 and 6286, the jolly roger panel in 6286.

Key pieces are often expensive and will cut heavily into your margins.

 

Keep this in mind, while your bottom line may expand monetarily using loose lots doesn't make much money at all.

Time is the killer of profits here.  Cleaning, Sorting, pulling pieces, building, photos, listing all take time.  If you expect to be paid for that time then this is a losing proposition.  However if you find it fun and relaxing as I do then the money generated is just icing to expand personal collections or put towards better investments.

 

In february we were blessed with a baby boy to adopt, so my time is limited as well.

I can spend weeks working a 20lb lot to clean, pull, build etc...And if I am lucky I will double or triple my initial capital outlay.  But it generally does not pay fo rmy time.

 

I have found some really great lots on ebay that have been very focused.  By focused I mean near comlete sets of a similar theme.

Of my big three, one had 6085, and all Forestmen sets.  Only missing a few pieces or figs.

Another had 20+ City sets (paid $190, should be worth 1000.00+) vintage late 80's early nineties (Still haven't sold those).

But to earn that 1000.00 plus I spent more than a month working on that lot.

 

I had fun doing it, Had fun building some of those sets.  When I sell someone else will get to enjoy them.

Bought about a 1/2 complete 10210.  Finished it off for less than $120.00

 

I look for dusty, display pieces.  Often times when the crude is washed off you see near pristine pieces underneath.

Some are afraid of the dirt.  Bought a complete with instruction 6286 for $110 once...nasty dusty.

 

Washed everything, sails came out bright white pieces looked untouched...It is still the best copy in my collection.

To each their own.  If you enjoy it, keep doing it.

 

If it is all about the money/time spent, it may not be the right path.

[brickelements]

Another recent purchase was a near complete 4483 AT AT black box version.  bought for $80, missing 3 pieces after I found a few replacements in my inventory.

Total cost to complete $6.  I have not yet had a chance to build, which was the primary reason I bought it.

 

 Now I will get to build one. Then I can sell it and make a few bucks in the process.

[mightycaseyatbat]

Ah, thanks for the detailed reply brickelements!

That's precisely what I'm wanting to hear.

The bottom line, is that I do enjoy this. I spend my day digging through lines of code (HTML). So some mindless sorting during the week is actually calming and relaxing.

The money to me is icing on the cake. One day I do hope to own a few white Boba Fetts and rare 3POs from this I will admit. I really will likely stay the course.

I've slacked off a bit since I have so much to sort out, but will continue to keep my eyes open for deals.

Thank again!