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2014 Reseller Challenge

SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
The Reseller Challenge

Each participating reseller invests a maximum £100/$160/€120 in January. You have to make as much money as possible from the initial investment with a month by month leader board. The winner announced in December is the one with the most profit. All profit from those taking part will be donated to Fairy Bricks. 

Sounds simple and fun doesn't it. So a few rules.

Open to all. So if you're not a regular reseller but think you can show them how it's done sign up!

The exchange rates are fixed £1 = $1.6 = €1.2 Other currencies can be added to this lock if required.

Participants must sign up by Sunday 12th of January

Final leader board to be published on December 20th.

You can turn as many sets over as you like.

The leader board and therefore money donated is PROFIT after all fees etc. If you have £300 of stock at the end but no cash you won't win. The initial investment isn't part of things.

Prizes. The kudos of being the top reseller on the board! The opportunity to nominate somewhere local or important to you to receive sets. A LEGO built trophy you can proudly display for one year before sending it back.

So that's it. If you want to take part either post in this thread or pm me and on the 13th I'll publish a full list of runners and riders. Yes this is competitive but it's also about having fun. So lots of thread chatter, wind up if someone slips into negative equity etc is great, abuse isn't.

Any questions just ask here or privately. Good luck!
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Comments

  • LegoFanTexasLegoFanTexas TexasMember Posts: 8,409
    Oh, this sounds like fun! :)

    Hmm, should I start with Galaxy Squad sets or not? Hmm...
    SirKevbagskylejohnson11
  • BastaBasta Australia Member Posts: 1,259
    edited December 2013
    Great idea Kev, I'm in. $185 AUD looks to be about the right amount with current exchange rates?
    SirKevbags
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    edited December 2013
    @Basta No worries mate. Consider the £1 = $1.85 Aus locked in.
  • LegoboyLegoboy 100km furtherMember Posts: 8,628
    edited December 2013
    Nice one mate. One question, do we now consider Fairy Bricks a [dare I say it], a 'reseller thread' for the next 12months? ;-)
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    ^ I'll assume the discussion in this thread will be rather organic ;-)
    Legoboykempo81
  • At the risk of introducing funny money into the equation, how about ZAR (South African Rand) at the frightening rate of £1 = R17

    Go to have some southern competition for our Australian brothers :)
    Legoboy
  • BumblepantsBumblepants Sofia BG/Dallas TXMember Posts: 5,113
    I wish I could play but I am just not in the same country enough to make it possible. Good luck to everyone
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    @simon_ratcliffe_101 happy to lock in the ZAR at 17. Does this mean you're in? :-)
  • ^ Yup - count me in :)

    Great idea - I am sure the collective wisdom of this group will produce some excellent profit for the charity - not to mention the inevitable endless post match analysis...
    SirKevbagsGothamConstructionCosirrich69
  • rancorbaitrancorbait Manitoba CanadaMember Posts: 1,850

    Hmm, should I start with Galaxy Squad sets or not? Hmm...

    Why? Don't you have any more #41999? ;-)
  • legoprodslegoprods SpainMember Posts: 432
    Sign me in! - Are parts and minifigs valid too? (Should be everything LEGO)
    kylejohnson11SirKevbags
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    @legoprods Parts and minifigs are no problem. Welcome aboard :-)
    kylejohnson11
  • leego76leego76 Chandlers FordMember Posts: 354
    Sounds interesting!

    I assume that all stock has to be newly purchased and not from an existing stash? Could start from today?

    Member to member trades excluded? I've had some great trades from this forum, wouldn't feel it's right to be taking advantage of people's good nature, etc. even if it is for charity.

    Can give these some consideration if needed, don't need an immediate decision.
  • doriansdaddoriansdad CTCMember Posts: 1,337
    Are you going to adjust for purchasing power otherwise the US guys are going to have a massive advantage. I suggest taking all of the sets listed on the no discount list (something close to resellers hearts lol), adding up the totals for each currency, and adjusting from there.

    Great idea and good luck everybody!
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    edited December 2013
    @leego76 Starting stock can be freshly purchased or something from your current stash. Everyone will be playing fair I'm sure. I can't see someone saying they picked up a MISB #10179 at the local charity shop for £100 ;-)

    @doriansdad I thought about some price adjustments but with such wild variations I decided to just fix the currency conversions as they are today and leave it at that. Yes the US can have cheaper sets but then here in the UK this week we had a shot at the Fire Brigade for 30% off. So keep it simple.

    Five people confirmed so far :-)
  • wagnerml2wagnerml2 Belleville, IllinoisMember Posts: 1,376
  • doriansdaddoriansdad CTCMember Posts: 1,337

    @doriansdad I thought about some price adjustments but with such wild variations I decided to just fix the currency conversions as they are today and leave it at that. Yes the US can have cheaper sets but then here in the UK this week we had a shot at the Fire Brigade for 30% off. So keep it simple.

    Well that is hardly fair. What about the aussies who are paying thru the nose for their sets? Poor old Basta can maybe buy 2 polybags with his $185 AUD lol.
  • leego76leego76 Chandlers FordMember Posts: 354
    Vouchers included as part of offers are in? Lets say argos £5 from £50 spend can be used as part of increased purchasing power?

    Also, if I'm in (and I like to take these things seriously but I need to work out if I have time before I say yes!), I assume you'll write my wife a note to say it's ok that I'm 'wasting' more time on lego for charity?
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    @Basta will be fine :-) Batman board games might help him out ;-)
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    @leego76 any vouchers etc are no problem. It's no different to a set being discounted by X %

    Happy to write a note for the Mrs ;-)
  • legoprodslegoprods SpainMember Posts: 432
    And eventhough we keep complaining about inflated RRPs on the EU vs USA, the price points for everything is different. A set there on the aftermarket usually sells for less than here. There, compensated.
  • BastaBasta Australia Member Posts: 1,259
    @doriansdad I'd have to find a poly bag first. Not often they come this far south, unless the HairyFairy delivers them :)

    @SirKevbags if only I could source some more of those games :(

    With the international pricing differences I don't think it matters. Getting discounted exclusives isn't a big problem these days, just this week Haunted House has been 30% off which brings it down to $167USD.

    Lastly anyone who thinks that they may not have time to participate, you do not have to continually flip sets. Just buy something at a good price or something that you will think will appreciate over the next year. Then come November/December next year sell it.

    Dosen't matter if you only make a few $£€ it all goes to a good cause.
    SirKevbagswagnerml2
  • ^ This is a big part of what will make this such a fascinating contest.

    I think we will see significant differences in approaches between the various regions. I really don't think anyone has a massive built in advantage.

    Asymmetry in the market place is a fundamental driver behind the reselling game. Nothing like a bit of arbitrage to keep things interesting - especially with a volatile currency :)

    Now - off to find some 50011...
    SirKevbagsCam_n_Stu
  • leego76leego76 Chandlers FordMember Posts: 354
    @Basta and @Sirkevbags, the gauntlet has been thrown down after a swift slap across the face so count me in!

    I will be starting from scratch with purchases from today rather than using a thing I already hold as I think that's more of a challenge too..
    SirKevbags
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    Welcome to the party @leego76 :-) I think that's six now. Who will be next..........?
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    I've had a couple of pm's about what happens with the profits on a month by month basis, are they handed over, with things winding up in December there won't be chance for Christmas deliveries etc.

    So the profits. They are donated at the END of the contest. This is so they can be used during the year and be re invested. For example a set is bought for £100, after fees it is sold for £130. So that's a £30 profit. You can then decide to hold that £30 and use the initial £100 again or go for bigger things costing £130.

    The timing around Christmas. Fairy Bricks donates sets at the moment to sick children. They are sick at Christmas but also in January, February etc so whenever the sets are donated they will have the desired effect.

    Finally for those concerned there won't be raffle fun in 2014, fear not. May is only five months away :-)
  • BooTheMightyHamsterBooTheMightyHamster Northern edge of London, just before the dragons...Member Posts: 1,231
    Well I wouldn't know where to start with reselling, so I certainly won't be jumping into this particular pond, but I'll just say... just about every charity out there would give their eye teeth to have a fundraiser of SirKevbags ingenuity and enthusiasm on board.

    Excellent work, that man!

    So who's going to win? Hmm...

    /studies the form
    /has no idea
    /sticks a pin in the list of participants

    COME ON Legoprods!
    LegobutterflycheshirecatPaperballparklegoprodskhmellymel
  • wagnerml2wagnerml2 Belleville, IllinoisMember Posts: 1,376
    For those who don't decide to play, @SirKevBags could allow members to donate to FairyBricks in support of their favorite contest participant. Those of us in the contest who garner the most donations can get extra bragging rights!
  • rocaorocao Administrator Posts: 4,283
    Ultimately everything is being donated so it mitigates this concern, but I think the following guidelines would help preserve the integrity of the competition:
    - investment sets should be purchased after the contest starts. Otherwise, I could, for example, start the contest off with a huge capital advantage by selling a set like the Cafe Corner
    - investments should be documented as soon as they are purchased, perhaps via email. Otherwise, I could just pick the best performer from a 'portfolio'
    - sales should be documented and verifiable for obvious reasons.

    Am I overly concerned and being too competitive, or do others agree?
    LostInTranslationjasordougtspharmjod
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    I'm happy to go with the consensus so long as to many rules don't weigh down the fun. I can't imagine in the spirit of the event that anyone is going to use underhand tactics :-)

    So @rocao are you number 7?
  • rocaorocao Administrator Posts: 4,283
    edited December 2013
    Right, I'm not trying to weigh down the fun with rules, just trying to ensure that the yearlong contest is actually fun, and not dead-on-arrival by different/loose interpretations of what is permissible.

    I think everyone having their own cost-basis reflects the reality of the reselling environment, so I think the competition is fine if it goes off this way. But I also think there's something to be said for deciding upon a common platform(s) for buying and/or selling so that it would be more about the product choices we make, and less about how fortunate each participant was to find a discount or eager buyer. I think this more level playing field might attract more casual participants to splash around $100.

    As for no one using underhanded tactics, you underestimate how competitive I am :P
  • rocaorocao Administrator Posts: 4,283
    Oh, and yes, I'll be lucky number 7
    GothamConstructionCo
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    So @rocao is number 7 and will have to be watched rather closely by the sound of things. If I'm the referee I may need to bring in a linesman ;-)

    I don't see a problem with portfolios being documented but I'm assuming not public so an advantage isn't given to a competitor?

    If this works folks you are going to love what has popped into my head for 2015 :-)
  • leego76leego76 Chandlers FordMember Posts: 354
    @rocao I agree and think all stock should be 'fresh', sounds fairer. Of course there is no reason anyone couldn't otherwise sell off and/or donate anything they already have outside of the competition.

    I made my first 'challenge purchase' today, hope that's OK? No time like the present! Happy to e-mail details or go more public, will let @mods and @SirKevbags decide but a degree of secrecy has its up sides, alternatively we could do a monthly retrospective or something? I would imagine the approaches will vary wildly and be of interest too.

    I also had the "no more lego" vs "ah, but it's for charity" conversation with the wife as expected this morning! She couldn't really argue of course.
  • rocaorocao Administrator Posts: 4,283
    edited December 2013

    I don't see a problem with portfolios being documented but I'm assuming not public so an advantage isn't given to a competitor?

    My intention is to blog about the choices I made so that people that are interested could follow along. I'd probably post some time after the fact so I don't completely give up any perceived competitive advantage, although I may even relinquish that since the greater cause benefits from complete information (i.e. keep a deal secret vs share the deal)

    Now that the wheels in my head are turning, is there interest in an additional crowdsourced entry? The members of the group could split the cost and use majority vote for decisions. That might be fun!

  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    @leego76 Great to hear the Mrs is on board :-)
  • LegoboyLegoboy 100km furtherMember Posts: 8,628

    If this works folks you are going to love what has popped into my head for 2015 :-)

    It will be a miracle if I survive 2014!!!
  • CCCCCC UKMember Posts: 16,666
    What is the exact finish date that all sales need to be declared? I want to make sure I have some budget left for when people need to liquidate their badly chosen stock at the end. :-)

    bobabricks
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    @CCC You skip rat! There will be no scavenging ;-)
    Paperballpark
  • BastaBasta Australia Member Posts: 1,259
    edited December 2013
    I plan to only use "stock" I have bought since the start of the competition assuming it'a already started? As I purchased some things yesterday that may be suitable?

    As for someone using previous stock like a CC or UCS MF. I think we should allow it, especially if it is specifically one of those two sets, think of the amount that will be raised with sets like that.

    @CCC what are you saying, you think those Chima Speedorz I purchased at full RRP won't sell? At least I'll have someone to offload them too :)
  • wagnerml2wagnerml2 Belleville, IllinoisMember Posts: 1,376
    @Rocao - I had the same thought about "blogging". I mentioned to @SirKevBags in a PM that perhaps we could report in on a thread and keep people apprised of our progress. I see it as a win-win as people may derive some entertainment and seeing updates among the competitors might cause some of us to keep our interest up so as not to fall behind! I think it will be competitive, but in a friendly way, afterall, bragging rights on THIS forum means a lot!!
  • CrowkillersCrowkillers Member Posts: 757
    So then you have to invest in sets to resell and not parts to resell as sets?
    Cam_n_Stu
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    @Crowkillers No problem with parts being sold. I think most will be reselling sets because that's what they usually do but if you're a part out guy and want to be number eight then it would be great to have you on board :-)
  • CrowkillersCrowkillers Member Posts: 757
    edited December 2013
    I don't mean parts being resold, I mean parts being bought and made into custom sets...
    Cam_n_StuSirKevbags
  • legomattlegomatt Member Posts: 2,538
    edited December 2013
    I say, what a capital idea @SirKevbags , right in the spirit of so many classic novels and round the world in 80 days type doodahs, old bean, old chap, old fruit. Your avatar will be in need of a monocle! What a jolly lark.

    Huzzah!

    Of course, I won't be participating as I'm not remotely seller material (no paypal, ebay, and basically skint, etc), but will be cheering/heckling from the sidelines like a demented sock-puppet.

    WoohoOoOoo! Go on you sports!
    That's it, show 'em yer stuff!
    WoopWoop!
    Engurland, Engurland, Engurlaaaand
    Who are yer?? Who are yer??
    AaaAAAaaaaaAAaGhhh, you're SH-ockingly awful.

    :oP
    SirKevbagscarlqLegoboyLegobutterflyGothamConstructionCoindigobox
  • LegoMom1LegoMom1 Member Posts: 652
    ^ @legomatt- I'm not quite sure what you said, but it sure was funny! Got quite a laugh out of it, Thanks for the chuckle. :)
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,030
    Lots to digest upon waking up.

    It appears the majority are happy with the "fresh stock" idea so lets go with that. @leego76 and @Basta if you have made purchases since saying you're involved then that's as fresh as it can get so yes no problems there.

    The discussion of choices etc. I thought that would happen. To keep the board clean and clear can it all happen in one thread? Probably this one after the closing date to enter has passed?

    @Crowkillers I personally don't have any problem with what you're suggesting. It isn't the traditional reselling as we know it but could be very effective. I think it's only fair to consult all other competitors before a final decision is made.

    I think I've earned my breakfast now!
  • vitreolumvitreolum RomaniaMember Posts: 1,406
    Basta said:

    As for someone using previous stock like a CC or UCS MF. I think we should allow it, especially if it is specifically one of those two sets, think of the amount that will be raised with sets like that.

    Definitely, surely there are a few here that got them for £100/$160/€120. And I'm right here to double that investment instantly. So just pm me. NOW.
  • Cam_n_StuCam_n_Stu UKMember Posts: 368
    No point stopping Crowkillers approach, more money for the charity! I had an idea to use £100 of PAB to build a number of discontinued sets but it doesn't have the required slopes available and I'm not sure I can stand the 'fun' of Bricklink. Back to the drawing board...
  • I really like the idea of having regular updates in this thread from the competitors. Much less fun if it is all happening in a vacuum. This will allow us to ooh and aah together.

    Those who seek a bit of privacy could always redact the set numbers and just list buying and selling details. This would also provide fertile ground for speculation on who is doing what :)

    Perhaps a twice monthly report from each competitor with successful deals, failed plans, future schemes and trading balance.

    @SirKevBags could then take the opportunity to update the leaderboard and comment on progress.

    Personally think the idea of @Crowkillers is excellent.
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