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The LEGO part comes in at about 3:15.
It's about LEGO being a better investment rather than particular pieces being worth more than gold.
And how much did you pay for the 10179?
And, in the event of a nuclear holocaust, not many people would trade food or supplies for a MISB Town Hall.
well, actually I would vote for the guys with the guns.
all that investing stuff mainly shows the stupidity of the system, how anything can reach totally silly prices until the market inevitably collapses, because hey, the market can regulate itself, right?
Also, quite a lot of things are more expensive than gold (a mr gold for example, gram for gram he is 10 times the price of gold in fact) so I'm not even sure that it's that much of a compliment.
I would say someone who (without working to clean, sort or endlessly bargain hunt) buys Lego sets and turns around 12% in a year (including storage costs, selling fees, postage costs, losses due to idiots etc. again without wasting undue time 'working') is doing a pretty damn good job.
And anyone that can do better than that year on year (without it being their job as stated) should tell me how because I could do with setting up a pension scheme that can offer those kinds of returns - people would be all over it.
On average. Most sets don't come near that.
The type of Lego investor you describe there is exactly what I mean by not doing a very good job, so yeah, if they turned 12% by simple breathing, that's great. However, I feel that a qualified Lego investor doing lots of work, even in this current climate, will earn much more than that.
It's like the old adage. If it were easy, everyone would be doing it.
I can't argue that because I bought a Tesco uniform at the beginning of the year for £15 that when I earned £15,000 all year I invested with a 10,000% return - that's just not true. But that is what is being claimed if someone says they are a lego investor when they spend hours and hours doing it as a job really - it's that claim that is flooding the hobby with people trying to resell.
This isn't your fault @TheLoneTensor , you just happened to mention the 12% return - everyone uses the language the same as you, it's probably just me being weird.
You've seen a lot of folks on here talk about how being an investor/reseller is tough, and they usually want out after a while, because it turned their fun hobby into work. I can respect that.
So yeah I definitely made more on LEGO than I would have if investing $12k in gold beginning of 2012 which was at $1,500 and now currently sits at $1,100 today.
Sometimes new sources do affect the price, one problem with economies on a gold or silver standard.
I do buy and sell collectibles. I haven't intended it as long term investment, but that has happened with stuff I kept for myself and eventually decided to sell.
It is indeed work, but enjoying the product is motivation.
And I'm going to give credit to EcommerceBytes.com for coining the first use of LEGO and gold in the same article, dating back to 2001. Great site by the way.
More importantly, I can hit you in the head with the hunk of metal and take your Lego set. And then I could feed you to a Zombie.
Oh, and when I say 'invest in guns' I don't mean buy them and then do nothing - you'll need to know how to threaten effectively to get the best returns on your investment and that takes work.
Also, wouldn't "shinny" metal be better used hitting people in the lower leg? ;)
The familiar sound of rummaging through a container of Lego only drives off wives.
"Stores like K-Mart or Zainy-Brainy often drastically reduce retail prices. Finding Lego at half price is not unusual."
BUT... I guarantee they had a boat-load of Construct-a-Zurgs and 2010/2011 Hero Factory sets.