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LEGO Investing: When is the right time to sell a LEGO set?
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- čas přidán 19. 07. 2022
- When do you think is the right time to sell a LEGO set? Let me know in the comments below.
#lego #legoinvesting #legocollection
Your enthusiasm for Lego investing (or Lego in general) is just infectious. Thank you so much for your work and your positive energy, Jake!
Well shoot! Thanks! Appreciate the feedback!
Great video buddy, thanks mate. The reason I got into it was to originally fund my Lego building habit, but since getting into Lego investing I just have so much fun working out which sets to buy and sell. Ive had some wins and losses but learning everyday to get better. Thanks! :)
Same Matthew! Love this! Thanks for sharing!
Jake, super, super useful video. I am definitely new to this, just dabbling a bit, and have quite limited storage space. I’m using available space in closets, even some space in my daughters closet!! So thanks for the guidance. Cheers.
Michael! Love the hear. Space is always the issue but as long as your daughter doesn’t have that many clothes you should be good to go! Cheers 💪
For me, Lego investing is just another adventure in life. Ive been collecting different kind of stuff for a long time, so getting into lego collecting/investing was kind of a natural choice. Its just interesting to follow the lego scene, new sets/older sets/sets good for investing etc. I just bought the Delorean and I started to build it yesterday, its a great set.
I have few sets that have retired recently but Im taking my time to see how much their value grows. Im in no hurry to sell.
Tuomo! Thx so much for sharing!? WhY other things are you into
Another great vid 👏👏👏
'It's fun' will do for me 😊
Thanks!!!
Thanks for the video and transparency. It is very realistic and true. Release is just a part of the business. You have to find your solution to it. It might not be the best result you want, you just to have to minimize the damage or maximize the return creatively. Or hold another period of time.
Thx Andy! It’s so true… most of the time I can shrug it off but there are times it still gets to me ha
To fund the sets I really want. This year gonna have to make alot of profit to buy RealMadrid Stadium, 90 anniversary Castle, Loop coaster, Ninjago Garden… just to name a few
Let’s go!!! 💪💪💪
I have to say.. I really lover your energetic and upbeat attitude to your videos. Makes it a pleasure to watch. Keep on keepin on.
Well shoot that’s an awesome compliment! Thx!!!
@@JakesBricks I speak the truth. Your channel will be huge if you stick with your attitude. This is coming from a 52 year old man who has started and ran 2 successful companies and knows how important attitude is. Its everything.
Jake wishing you continued success. Really big fan of this channel. Now to answer your question. I’m definitely a long term investment guy. I would almost consider myself a collector currently, but love the prospect of selling in the future.
Love it! Thx Chance
Hey Jake... thanks for another video. Really like your style talking Lego investment. Wish you the best 👍
Great video! Informative, prompt interesting, responsible and no aggressive hype.
@maciek! Thx so much for the feedback!
Thx @T M
Love your content just subscribed
Sweeeet! Thx for the sub Shadow
Nice sharing!
💪💪
My selling strategy is around the same as yours. Get to about 100-150% roi, and then sell, to reinvest. Also, bacause of space 😛 As you say, there is a risk to holding on for too long, but in general I'm sure that compunding your investment will get you much higher roi than holding for a long time. The annual roi will, in most cases, go lower and lower once you get past a few years.
Agreeeeeed! Keep it up Michael
The bouquet series coming out looks like a good place to start
Could be!
Need to get some inside information from lego on what they are planning🤔On next.🤣🤣🤣🤣
I wish I had this…
Now unlesd theyre in box brand new and retired. I was able to build a brick bank off the the pick a brick site for under 300 dollars, people still trying to sell used modulars for crazy money. Like the cafe corner u can build it for around 200 instead of buying it used for 1000 dollars lol
Sounds like you have a deep secret! Not a bad way to make $700-$800. Although I don’t think you can source all the exact same pieces from the cafe corner for $200. If you can I’d do it all day everyday
@@JakesBricks no all but most of them, probably the main door wpuld be the only hard to get piece from the set. And the windows since they dont have those anymore i think
Thanks and greetings from Poland!
💪💪
I buy it as a tax free inflation hedge. Money in my bank account decreases in value and i have to pay taxes yearly. I hold on to the sets until my daughter is old enough to help her with her study/ house.
Love this Daniel! Thx for the comment
Do you find bigger and more expensive sets get you a higher ROI than smaller sets? for example the Disney castle thats scheduled to retire this year vs a star wars battle pack or speed champions set?
i just started in the investing in Lego space as a way to diversify some of my investments, kinda looking at it like art and jordan shoes and ive found all of your videos very insightful and helpful thank you!!
I typically find that smaller sets get a better % ROI but shipping costs are usually greater and it takes more work to sell 20 battle backs vs one Disney castle.
Great channel, it actually inspired me to invest in some lego sets. I'm hoping that the roi is high enough so I can start building my own collection.
That's why I do it! Thanks Hubert! Happy Investing and Building
Sometimes you have to realize the profit when it comes, especially if it's funding itself (only buy more when something sells). I had to let go of my Stranger Things upside down sets earlier than I wanted because they already had significant gains.
Stranger things is on fire! I sold 3 only have one left because I decided to jump on selling while it was hot. Could probably go higher but I couldn't pass up 150% ROI in under 6 months
What platforms do you mainly sell on? and how do you keep track of inventory?
eBay! Inventory tracking through a spreadsheet but I’m exploring other options soon
Great video Jake, do you have a video talking about platforms that you use to sell on? Or is it mainly ebay and fb
Have this on my video list to make here soon! Currently I sell at District.net/jakesbricks
I'm new to investing in LEGO and plan on making it my full-time income and want to keep a few of each larger sets for over 6 years to see if I picked a winner or two:) My living costs are lower than most though plus I have alot of free storage.
Sounds like you are set up to do it! I am a ways away from doing it full time but I know many that do. Good luck Bork!
Just started investing last month, I find your videos very helpful! I also struggle with wanting to build them! Ha. Any tips for not wanting to open the boxes!
It’s the most painful part of the process. I would start storing them at someone else’s house if the temptation is that strong 😝
I reckon around the first or second 4th quarter after it retires you have to sell most of you inventory (depending on market conditions). Keep about 10-20% to sell later and cover our FOMO base for sanity. The good thing about selling faster is the compounding effect. Considering we buy a lot of our inventory with a reasonable amount of discount we have discount on a set twice instead of once if we would have kept our inventory for 2 years instead of the full 5 years. That first discount seems so important to me as most of sets that are winners will automatically be worth full RRP or more once the set retires.
Benjamin great insight! Thx so much for sharing!
Just started on Prime Day - flipping and long term investing are my goals. Eventual side hustle!
Let’s go!!! 💪💪💪
To answer the question, I specifically like star wars and basically I'd like the side hustle to become the way to finance new sets for my enjoyment.
That’s why I’m here! Hope you enjoy the channel
Great content as always!
I only "invest" when I find stupid cheap deals in the after market that I know I could turn a profit on. Try not to hold it beyond 2 years, mostly due to space.
Love this! Thanks for sharing BFB!
I invest to make some money and also just because I like lego. If investment doesn’t work out Im stuck with something I actually enjoy. Just like the feeling of owning something collectible and valuable
This is genius!!!
Lego investing suits me because I enjoy the selling process. Some people feel like it's a hassle but I get a rush. The reason I started is because I expected this high inflation and I wanted to profit from it. I've been at this for 16 months and have had some success with sales and increasing inventory value. I've made many new acquaintances and am enjoying myself.
TM! Thx for the comment! Keep it up. I also like the rush
First. Videos are super insightful !
Thanks Hassan!
I invest in lego to buy more lego! :D Love your videos man, keep it up. :)
Same!!! Thx Hermann!
Space is definitely the driving factor behind my selling
If only we all had giant warehouses for free
Some great advice
But how do you keep track of what you have an when to move it ?
A basic spreadsheet. But I need a better method tbh
Awesome video. Do you mainly sell on Ebay? I'm new to investing in Lego. I always buy at 30 -50% off retail price. Hardest thing is knowing what to buy
I do! www.ebay.com/str/jakesbricks
Stay up to date on my videos. I talk more about what to buy and why. 30-50% is usually pretty good there are only a few themes I would avoid at that discount
Excellent vlog
Thx Jasmine
I have bought some sets to make a few bucks here and there. Mind you, I have limited space left so need to decide what to sell and when.
Space is the killer for me! Keep it up!
@@JakesBricks Do you by chance have my Holy Grail? 42056. I saw one built behind you. Looking for a NIB that's reasonably priced.
@@chriskluczynski1104 I dont have one NIB unfortunately good luck on the hunt what price point you looking for
I'm investing to buy more lego
You and me both!
Awesome channel, abnormally small number of subscribers (so far). Thanks!
Growing slowly 💪💪
Im just starting to invest and i want to know how you think the SW Razor Crest will do once it retires at the end of this year, the retail price is $169 Aud. And what would you recommend me to invest in ?
Razor crest should do well although on one fig is unique to the set. I wouldn’t go too dee bc I think a lot of investors have stocked up. But shouldn’t hurt to have 2-5 sitting on deck to sell
One thing you guys never mention is when Amazon refuses you to sell Lego products. They are requested I get a letter from Lego giving authorization to sell. What’s up with that???
So I have never sold on Amazon for this reason! eBay is my main go to
Holding a set for too many years just ties up your cashflow for 1
Secondly it’s no good owning a 5 x LEGO set worth $5000 and taking a year to find the right buyer when you could have sold 5 of the same set 3 years earlier at 150% ROI and make similar money by reinvesting that profit 3x over in the same time
There’s a very limited market of buyers for sets with a 500% ROI not to mention the other risk factors
A risk factor you didn’t mention was box damage by just age, shelf wear humidity or even vermin and suddenly your inventory is worthless
Thank for the great videos Jake
Excellent insight Kevin!!!! Appreciate this comment!
@@JakesBricks
I had a cloud city that should have been 300% but after 3months the best offer was 150% so I took it rather than hold it
I currently have a Ninjago dragon that research tells me there’s no others for sale in Australia but again - no bites so the waiting game is frustrating me when I thought it would be a bidding war ?
Live and learn
Hey Jake, curious where you sell the majority of your sets?
eBay. www.ebay.com/str/jakesbricks
Im investing in lego bc its *fun??* and if the set doesnt go high enough to sell/get profit or smth, I’ll. build it by myself😁🧠🧠🔥🥶
Great strategy!
Why am I investing
Ideally I’d like to build and grow a business in new, used and rare LEGO.
At 56 I can’t see my body lasting another 12-15 years in construction work and with smart choices and a realistic plan I hope to grow a business and be out of construction by 60
Well shoot! Hit me up if you ever open a retail store!
@@JakesBricks
Primarily I plan to work from home and use selling platforms online etc
I think rental space would be too cost prohibitive at least in the short term but I have a plan and see how it grows , however my biggest hurdle is time and time management whilst spending 60+ hours involved with a full time job but I’ll plod along gathering inventory
I have bulk LEGO partly sorted and will begin listing it soon and retired sets are maturing like a fine wine
Thanks for your support
I’d love to get over from Australia and meet face to face sometime
Great vid I hope that the economy dark clouds don’t hurt reselling lego as people can’t afford to buy food and gas and pay there rents and mortgages right now .It may be a long term hold to make good profits as I see bad times ahead.What’s your thoughts thanks Tony
Don't worry in US Fed print a lot dollar's.
In Poland we have 15% inflation.
Turkey now has 80% inflation, this is real problem.
@@wzsakul that’s the problem we keep printing money which is a disaster
@Tony! I do think this next financial season my mean longer holds. But some of the best sets for investing came out during the recession in 2007-08. So it could present a unique opportunity for those that have the cash to do it. Thx for the insight.
@Wzaskul I have heard inflation in other parts of the World is insane! Where are you from?
I probably won't invest much so it would be a long time of investment, because they are Harry Potter sets, for example Hogmedes village, so I'll probably hold onto it for awhile, and sell in the future.
Great to know! Thx Holiday
Im new to this. Selling on ebay at 12% fee plus 20% income tax seems like its hard to make a profit. Is there a way to avoid the income tax that I am missing?
Unfortunately there is not a legal way to avoid income tax. But you should only be taxed on your profits not sales. So you should still take home 70-80% profits
To hedge extra cash against inflation. It’s working well with legos new prices.
Truth!
long term inflation hedge
👍👍
the higher the price, the fewer buyers
TRUTH!
I waited to long on some LEGO investments and somebody broke into my basement and took them :I
Woah! That’s terrible! Sorry to hear it
@@JakesBricks Don't worry, got some money back from my insurance and will build up my portfolio again :)
@@voydkid 💪💪💪
i just bought the set with phase 2 rex for 20 dollars
Woah crazy deal!!!
Nice Video again...
You also do NFT investing in NFL :) ?
I have never gotten into NFTs but they do intrigue me
If you’re really treating this as “investment” then be an investor. Like any market hindsight is 20/20. You will never sell at the peak or buy at bottom. If We all had put that money into bitcoin and not Lego……you get my point. And not for nothing but 100% return on anything is ludicrously successful. Recent markets have warped perception on what a “good” investment return is.
Very true… but there are some general
Factors we can look at for LEGO investing they have tracked historically. The same can be said for baseball cards, stocks, etc. no one is truly an expert I guess! I’m Just trying to help others fund their building hobby 😉
I tell people the real world affects Lego I told a friend that and he wants to keep iss set sealed I got him in case they sink the real one ( it’s rumored in 2030 due to the current Russia situation if we don’t resolve everything we may just sink it as Russia has a stake in that and if we all don’t use it I guess it might just be sunk into the ocean or let go into space as debris but it’s a rumor) I got the grand inquisitor for 30 months back and now everyone wants him I do feel bad for the dark trooper situation
This is a really interesting analysis. Pop Culture and current events have had really interesting affects on LEGO investing so this is definitely something to consider. Thx for the comment Horror Bean
I buy what I would like, to sell. Get into unfamiliar themes and you can lose your shirt LOL
By the way, do you have a very large collection that you add to each year? Seems like all you have shown are some cars and other miscellaneous sets on display.
My collection is quite small compared to others. I moved 7 months ago and most of my built sets are still packed away. Tbh I like building more than displaying and haven’t convinced my wife that LEGO is home decor yet 😉
I'm lego investing so I don't have to pay top dollar for when my kids get to that age.
Great idea!!!