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Showing content with the highest reputation on 12/05/2018 in all areas
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Lego Friends Catamaran #41317 for 50% off https://www.amazon.com/LEGO-Sunshine-Catamaran-41317-Building/dp/B06WW8DCHC/ref=pd_sim_21_2?_encoding=UTF8&pd_rd_i=B06WW8DCHC&pd_rd_r=fcdf5de2-f84c-11e8-be8b-678d8811bd0a&pd_rd_w=67emh&pd_rd_wg=rKOCN&pf_rd_i=desktop-dp-sims&pf_rd_m=ATVPDKIKX0DER&pf_rd_p=18bb0b78-4200-49b9-ac91-f141d61a1780&pf_rd_r=XSSAPMZ8FNN3HZWHETV9&pf_rd_s=desktop-dp-sims&pf_rd_t=40701&psc=1&refRID=XSSAPMZ8FNN3HZWHETV96 points
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eBay is not all that un"trustworth". A good portion of people here sell on eBay so I would argue you might not want to be accusing sellers of lego on eBay to be not trustworthy when a large part of us are sellers of lego on eBay. It does not really mix well. This is all assume you have a Prime account. If you have to have a couple right now I only see PrimeNow has the slave one for 187.90. You can use your $5 "no rush shipping" codes to lower it more if you have saved them. There is also a $10 coupon for prime now a swell so it will lower the total more. If you have a amazon chase card there is 5% back to you. all in all one will be 177.90 + tax with 5% back in points.6 points
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One thing to add to Achilles' advice...get a hang of how easy it is to sell before you start going deep on buying. If you look back over the various clearance threads on this message board and others, you will see a lot of people who come in, get geeked up about buying clearance, buy a ton, and then disappear. Buying is a lot easier than selling and it is very easy to get overextended, particularly if you're using credit to buy. Sent from my SM-G965U using Brickpicker Forum mobile app6 points
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Sold two Tumblers at the end of last month of US$265 each plus shipping. After fees, packaging, sanity and few angry phone calls with eBay, I still made out with a nice closet space.4 points
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@exciter1 and everyone who are off tomorrow... 50 cents Corn Dogs at Sonic!!!!!4 points
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If only someone would of warned us during summer... that was the first reference of train staying and station going as well, not to be confused with the other 100 times it was asked... brick bank and joker manor too, just a little snippet of a bigger riddle to come...3 points
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https://www.google.com/search?lsf=seller:8636635,store:6780750817308392836&hl=en&lsft=gclid:Cj0KCQiA_5_QBRC9ARIsADVww146heZqTRuLHOQa4fFr6lB9szEYRVWnwcoR256raKKvYuM8e7TJPh8aAjHeEALw_wcB&tbm=shop&q=interlocking+blocks&sa=X&ved=0ahUKEwjKgu6VusHXAhWJ6YMKHZhOCV0QljAIEg&biw=1440&bih=7033 points
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If you have access to it, the Navy Exchange is having a 1 day sale today, 50% off a bunch of sets. And no sales tax is always a plus there.3 points
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feels like people around are always off even when they are at, ahem, " work "3 points
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Are you sure? Some of the Nexo sets look very similar to Joker's Steamroller..3 points
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I think you're right in that most people don't understand the terminology and just equate it both as gross profit. If you're talking to someone in business though, they will not refer to it as the same thing that you are doing here. I'm just trying to help you understand the terminology that comes with running a business, if you should choose to go that route. 1) I buy Lego for $50, sell for $200. Markup is $150, or 400%. 2) I buy Lego for $150, sell for $300. Markup is $150, or 200%. SO, 1) Gross Profit = $150, Margin is 75%, Markup is 400% 2) Gross Profit = $150, Margin is 50%, Markup is 200% Markups can be higher than 100%. Margins cannot. Hope that helps in understanding the terminology. Most companies and sellers will tend to set an acceptable margin rate in order to turn an overall profit and make sure they can stay solvent. You'll try to price your goods around that margin. If I set mine at 50%, then I know that any product I need to sell should be priced around 50%. If I'm looking at Lego investments I need to know that 50% margin will cover my expenses so I should spend money on sets that will net me that margin. If I buy an item for $200, I know that I need to sell for $400 in order to hit that margin. If I buy an item for $50, I know that I need to sell for $100 to hit the margin. If I buy an item for $25, sell at $50. It's making sure you are using your money wisely. Sorry to take up the retiring thread with accounting stuff @ravenb99 but I think it's useful to know for people getting into the business side of things. Thanks for the questions @dx0520 So that WV Station is retiring right?? Haha...3 points
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Brick bank back at LEGO Shop at Home https://shop.lego.com/en-US/Brick-Bank-10251 good luck everyone.2 points
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Ok, that explains it. I didn't read the entire announcement. I thought maybe the mailman just really wanted me to have the new LL Bean catalog.2 points
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Simply being a last mile delivery firm and following through on the delivery are two different things. No delivery last night. I remain unstunned.2 points
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I can think of a super easy way for you to get this topic back on the rails.2 points
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Apologies I don't mean to come across harsh but that's how it goes and you should definitely be looking at both numbers separately if you're in this big time or have your own business. Markup helps you calculate sales price taking into account the costs to purchase or produce the item. This is useful so that you sell at a higher price than what you bought the goods at. However, margin helps determine profitability. Let me see if I can layout my other example better using round numbers: I bought Horizon Express for $100. We mark it up by 50%, so the sales price is $150. I sell it for $150. If you're looking at the financials of your business, your income statement will show income of $150, and cost of goods sold (COGS) of $100. Gross Profit is $50 ($150 income - $100 COGS), which is a gross profit margin of 33%. I need to know gross profit margin so that I can take into account other variable expenses - such as overhead and the like, and make sure those expenses are covered by a profit margin of 33%. If I had variable expenses in the 40% range, I would be losing money. If I had used the markup method for profitability and had the same % of expenses (40%), I'd think that I was still okay. Hope that makes more sense to you. Margin is much more useful when talking about the profitability of your business. Using markup as a profitability tool can lead you on the path of being in the shitter. Always look at gross profit margin when making sure you're running in the black. Let me know if that helps out!2 points
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"If it was easy everyone would do it" - I don't mean this to come off as condescending, but there are no easy answers. I have been doing this for several years, and I am still learning, adapting, and refining my processes. I am sure several of the vets here would echo that sentiment. But there are tools, sites like this one, and others, that can help you learn and grow. But like most things, the best teacher is practice. Even without insider info, there are ways to make educated guesses as to what is retiring - there are some predictable trends, and not so predictable trends - For example, we know what themes LEGO is still using in 2019, and we can see that "LEGO Batman Movie", "Cars", "NEXO Knights" and "Elves" are not among them - so we know those sets are retiring. From themes that are continuing, such as DC Super Heroes, LEGO typically only has one BIG SET (140 ish price point) for each super hero line, currently Flying Fox for DC And the Sanctum for Marvel. Flying Fox has been out for a year and a half (Release dates available on Brickset.com), so it's an educated guess to assume that set is on its way out, even without having any other info. Some other info we do have on this set however is that it's been cleared out from most major retailers at steep discounts. That also can usually be taken as a sign of something retiring. Every set retires eventually. Some sets bring better returns than others at a different timeline and for different storage spaces. All those nuances are things you'll have to figure out yourself. From my example above, I think most serious LEGO investors are shying away from most LEGO Batman Movie and Cars sets, even at steep discounts. Elves seem to be a mixed bag, and I find NEXO Knights interesting. After the relative flop that I consider most of CHIMA to be, I avoided a lot of NEXO - And some of those sets have actually appreciated quite well - and I just haven't put much into the theme. But as someone else said, you can't buy it all. And some decisions will be winners, some will be losers. If you have more winners than losers, you're doing well. Personally, I have more Joker Steamrollers and Gorzan Gorilla Strikers than I care to admit. But I have far more Gorilla Grodd goes Bannanas and Joker Manors to make up for it. And here's the thing, MOST "losers" still sell for close to MSRP, so if you bought at a decent discount, 40% or more - You're still going to make a few bucks or come out even. That's one of the things I like about doing this, since at worst you are likely to break even - It's a pretty decent risk. The sets I have bought over the years that sold for less than MSRP 2-3 after retirement I can count on one hand. If I were to give advice to someone just getting involved, I would say this: Have a budget and a plan. Don't overspend. Be realistic. And definitely do not buy every set that's retiring or every set that's 50% off. THERE IS ALWAYS SOMETHING TO BUY. There are better/more efficient ways to go about it all, but as we all keep echoing - things are changing constantly. The Amazon gating thing is kind of a big deal. I don't even know if I *could* start doing this today with a goal of making money. Once you're already entrenched and have a system/rotation, it's a different game. Even as someone who has done this a while, and who (I consider) to have decent success, I would be lying if I said I totally understood it. I really thought 31038 Changing Seasons was going to be successful, and it has turned out to be pretty much a dud (even though I personally love the set). I would have never guessed that a set like 31032 Red Creatures would have been the smash that it is, but I ended up with a fair amount of them anyway. You are here, which is a major step. I was doing this for years before I discovered this site, and the information and experience found here have been instrumental in helping me grow. So from here, I'd say do a little research, dip your toes in, and see how it goes.2 points
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You should familiarize yourself with the fact that this is a bias. This does not mean all arguments from authority are wrong. I think you're going a downward spiral of trying to prove a point nobody else is really interested in. Don't let yourself get worked up and just enjoy the fact that we're all sharing our passion for lego and business here. Regarding the best way to see what are the sets to buy, I would recommend: - look at how many people say they've got a set on brickset.com (might be saturated) - Look at Brickinsights to see how people rate sets - Look at performance of past sets that are similar. - Look at sets that are offered at a discount - Really take the size of a set into consideration as storage will cost you. - For estimating a retirement it is good to check how long similar sets used to run for. Added comment: I'm in no way an authority, so you can trust me2 points
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The inner circle know the retiring sets months ahead and plan accordingly. If you are out of that loop then you are a tea leaves guy with a major disadvantage. Doesn´t mean you can´t strike gold but you are trying to catch lightning in teacup. Urrggg I think I just ovedosed on clichés....2 points
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First off, if you knew me and were familiar with this site, you would realize the answer was meant to be somewhat sarcastic and funny. Secondly, I didn't recommend it, nor have I pitched the book for years. Yes, the prices are outdated, but there is useful information in the book for novices, plus it's a really nice book. Bad business? LOL...Don't you have to make money from something for it to be a business? The book made me practically nothing. I have't received a check in over a year. But it was a cool experience to write two books and to write monthly articles for BLOCKS magazine and I can tell people that I am "published." Well let me introduce myself. I am the co-owner/creator of the site and I am from NJ, but I do not do the well done videos, belljohn does. For a person who talks a big game, you certainly don't pay attention. You have 358 posts and have been on the site for a year. A quick search on the internet can do wonders... https://www.usatoday.com/story/money/business/2012/12/27/lego-investors-profit/1732525/ I agree, the real good information is on this forum and from all of its diversified and intelligent members. People like belljohn and I don't do this for money, it's a passion. Enjoy the site...2 points
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Not really a wretched hive so much as a hangout. And yes, I bought raffle tickets to help the school, too. On a somewhat serious note, I do think most people here are honest and hardworking resellers and collectors who like what they do. I also think we should continue to have conversations about ethics and consider each other as AFOL first. The great thing about this digital space is that it brings so many of us together, but I think some of us forget in all the deals, the buying and selling, that there are people behind the screen, in the shipping center hauling boxes, driving the trucks, etc. Sent from my iPhone using Brickpicker Forum mobile app2 points
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I called them yesterday. My local branch is still full staff (internally) as they need to keep things moving along. He actually seemed upset that now they will have twice the load to delivery on Thursday, which ultimately will take longer.1 point
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Agree with asking for a refund. Sellers shouldn't **** around with shipping methods. And if they do, mistake or no, they should communicate about it up front. If there's not even an apology for the mistake and partial refund, I'd take it up with eBay/PayPal since you paid for service you didn't get. And if the order also arrived outside the delivery window, I'd consider flagging it to eBay regardless of outcome since the defect counts against Top Seller status.1 point
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Definitely agree that Elves had some of their most creative designs. But I think a bunch of thr Friends sets, even if not very creative, still have interesting designs I wouldn't mind if they gave the Elves designers a crack at a Castle/Kingdom theme.1 point
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I spoke with a Walmart clown...I mean customer service rep...the other day after all my orders were getting cancelled. The told me to make up a new account. Fake it basically. Top notch service and advice!1 point
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Just search for LEGO and sort by ascending price. It's posted repeatedly in the B&N clearance thread.1 point
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Many experienced sellers don't wait for the retirement dance, they identify sets for purchase and buy throughout the year(s) at discount and then do a silent happy dance when items retire.1 point
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Today I tried something different and set up a Lego booth at a local indoor flea market that is held three times per year. I advertised on local Facebook buy/sell groups for about a month leading up to the sale. It seemed to drum up a lot of interest since many people told me that my booth was the only reason they came to the sale. I choose this particular date since it’s right before the holiday shopping season and advertised it as such. Pros...the sale was located less than a mile from my home, so very minimal transportation issues. Lots of traffic and networking opportunities. I had some business cards printed up and handed them out. Cons...lots of prep, from pricing research to literally pricing everything, boxing everything up for transport, set up, and take down. Also, the sale only ran for six hours, from 8am-2pm. Would have been nice to go to at least 4pm. My goal was to focus on small stocking stuffers to medium sets that are priced well for gifting, and it seemed to work. I brought a few large exclusives, but mainly just to draw attention to the booth. I priced my retired sets about 20-35% below eBay sold prices, and my non retired sets below regular retail, while still maintaining an acceptable margin. Surprisingly, I didn’t have many people trying to negotiate, as many realized my pricing was more than fair. I was a little worried about that since it was a flea market / garage sale type environment. In six hours I did just over $900 in sales, mostly the small to medium sized sets I was hoping to move. All in all it was a pretty decent experience, which I will most likely try again in the future. The next sale is in January, which I’ll skip. The following sale after that is in March, which should be a decent opportunity since people will be getting their tax returns and will have some extra cash to spend.1 point
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