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Parting Out BNIB Sets: Is it Worth It?

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  • CCCCCC Member Posts: 20,526
    It can be worth it if you plan to have at least 10.000 thousand parts. Buyers want quantity first of all.
    It depends on the buyer and on the price. About six months ago, I removed from sale just about all my parts, I left only single parts that were worth more than £1. I think I had only 10 or 11 things in my whole store. Yet two people bought from me - one bought three bricks, one bought just two. If you have something that someone needs and you are competitively priced, you might still get a buyer, even without huge stock.

    As a buyer, I tend to go with larger stores for the type of lots I buy, but then I rarely spend £1+ per brick/part. I usually want lots of cheap bricks, so size of inventory matters there.
  • BrickarmorBrickarmor Member Posts: 1,258
    I am extremely grateful for BL and I look forward to opening my store once the technical snafus are cleared up. Whether I profit or break even is a matter of indifference to me, I certainly won't lose any money and will be glad to lend the Lego community some of my time and assistance. I'm working now on a massive wanted list to complete about a dozen sets, and my first orders will go to the people there who have been most helpful answering my novice questions in the forum.
  • jdylakjdylak Member Posts: 281
    I just opened a store. I had about 45 lbs of pieces that I am done with. I mean I have rebuilt every old city/castle set from the 80's. So 98% of my pieces are from that period. Someone said they'd give me $300 for the lot. I toyed with putting it on ebay but figured I'd want more than $300 as I felt they were worth more. Now I also started buying the Marvel/DC sets for the figures. I put the pieces in my store first. So since day one I opened with that, I had an order a day. End of a week I made $40. Not bad I'm thinking. So I start throwing my inventory of old pieces on there. I got thru bricks, plates, and slopes. Of the $300 I was told I wouldn't get more for the lot, I have made $140 so far. 2000 pieces sold with an inventory of 6000 pieces yet. I still have about 70% to inventory yet. I'm loving it so far!
  • josecafejosecafe Member Posts: 29
    @jdylak That's awesome! I'm also in the process of inventory-ing my LEGO collection through rebrickable. After I finish, I am going to upload the list to bricklink and hopefully open a store of my own.
  • technicaltacticstechnicaltactics Member Posts: 47
    edited July 2012
    I wanted to know about other's experience with parting out sets on Bricklink and if they feel it's worth it. I just finished parting out a Metroliner on BL. It literally IS hell, given your're trying to find the parts at a good price for what is the Holy Grail of LEGO trains. I feel it's worth it, given the fact Metroliner on ebay goes from around 400 - 1000 USD, which i feel is ridiculous for a set, even if it's MISB. I spent around $120, and the fact is, that was for the pieces that I don't have in my large collection. Yes, it is worth it to part out sets, and also, no. The real factors that determine something's price online, whether it be BL, or Ebay, is either how valuable the set actually is to the seller, how much they think someone will pay for it, or how old the set is. This is the first time I have parted out a set, and I feel it's not something I'd like to do again. Enough of my rant, would any of you would like to share your experience?
  • BrickarmorBrickarmor Member Posts: 1,258
    Ever since I learned how to add a set's entire inventory to my wanted list and delete pieces as I find them, completing sets is a breeze.
  • technicaltacticstechnicaltactics Member Posts: 47
    I think I spend more cash actually buying pieces I'm too lazy to dig out of my collection when I part something out, lol. Currently, my collection is in the state of being sorted by part type/category (i.e; Wedge, jumpers, etc) Just like when i parted out Metroliner, I didn't want to dig 20 old gray 1x1 plates out of my LEGO bins, I decided I'd just order them and spend the extra $2.67, heehe
  • CCCCCC Member Posts: 20,526
    The real factors that determine something's price online, whether it be BL, or Ebay, is either how valuable the set actually is to the seller, how much they think someone will pay for it, or how old the set is.
    I disagree with the last part. Age has nothing to do with value. Value is down to how much a seller will part with a set, and how much a buyer will pay for it. Age might come into the question, especially if its age means it is hard to find, but being old doesn't necessarily make it more valuable.
  • jdylakjdylak Member Posts: 281
    Agree with the age thing. That's what's nice about Lego. You can rebuild sets 30 years old and not worry about paying the price. Unless set has a rare pert not made anymore, It's great being able to rebuild all the great 80's sets. I did it and have a basement full of sets. Sure, they don't have original instructions and most don't have the minifigs yet but it's nice to look at the completed model.

    Metroliner goes for that much?? Geez, I bought a complete set, an extra passenger car, and the observation/sleeper car for $200 off bricklink of all places like 2 years ago. I thought I just seen one end for like $200
  • technicaltacticstechnicaltactics Member Posts: 47
    edited July 2012
    @jdylak Metroliner goes for that much?? Geez, I bought a complete set, an extra passenger car, and the observation/sleeper car for $200 off bricklink of all places like 2 years ago. I thought I just seen one end for like $200

    Yep, believe it. http://www.ebay.com/itm/LEGO-CITY-METROLINER-TRAIN-SET-NEW-COLLECTOR-ITEM-10001-/260837818012?pt=AU_LEGO&hash=item3cbb253e9c#ht_4563wt_952 Really. Who is absurd enough to pay that for a metroliner MISB?! Whats the value aswell, given this is the Legends re-release. You are one lucky person jdylak, the sleeper car itself goes for around 130 - 500 USD. What kind of condition was it in?
  • jdylakjdylak Member Posts: 281
    @jdylak Metroliner goes for that much?? Geez, I bought a complete set, an extra passenger car, and the observation/sleeper car for $200 off bricklink of all places like 2 years ago. I thought I just seen one end for like $200

    Yep, believe it. http://www.ebay.com/itm/LEGO-CITY-METROLINER-TRAIN-SET-NEW-COLLECTOR-ITEM-10001-/260837818012?pt=AU_LEGO&hash=item3cbb253e9c#ht_4563wt_952 Really. Who is absurd enough to pay that for a metroliner MISB?! Whats the value aswell, given this is the Legends re-release. You are one lucky person jdylak, the sleeper car itself goes for around 130 - 500 USD. What kind of condition was it in?
    Wasn't boxed, but don't care. Perfect condition and didn't even have the stickers applied.
  • technicaltacticstechnicaltactics Member Posts: 47
    Are you in the UK? Currently, only 2 sellers there sell complete sticker sheets for metroliner on BL. If you want the stickers, I'd suggest buying them. As far as boxes go, i don't care either. To me, its not the box one buys it for, but whats inside the box. All the box is is a piece of printed cardboard =p
  • jdylakjdylak Member Posts: 281
    Oh, I mean the stickers were there, just not applied. The sheets were in the instruction books. Are we talking BNIB or opened because there is one on ebay now for like $200
  • technicaltacticstechnicaltactics Member Posts: 47
    I was referring to BNIB.
  • cavegodcavegod Member Posts: 811
    edited July 2012
    Ok my Bricklink stock is dwindling so can some bricklinkers tell me what sets are good for restocking?

  • DiggydoesDiggydoes Member Posts: 1,079
    edited August 2012
    I don't know if there already exist such a topic,but i'm curious what ya'll say are the (current) sets with the best part-out value (based on RRP)?
    I run a small BL-store and i'm always on the look-out for sets to part out! Wanna share your thought?
  • LegoFanTexasLegoFanTexas Member Posts: 8,404
    I haven't really looked hard, but Imperial Shuttle has a great part out value.

    Of course, having a great part out value, then having parts that actually sell, is another matter... :)
  • LegoFanTexasLegoFanTexas Member Posts: 8,404
    All the modulars have a nice part out value of more than 2x RRP
  • LegoFanTexasLegoFanTexas Member Posts: 8,404
    MMV is $238 right now parted out, another reason I think that set will go to $250 in retirement. Well, it would, if everyone and their brother were not saving 10 copies. ;)
  • richoricho Member Posts: 3,830
    MMV must be the most highly stocked set for resellers in the history of lego. Even then, it's so nice, I still think it will jump quite a bit.
  • caperberrycaperberry Member Posts: 2,226
    Many smaller sets, especially the Games, part out well. The Battle of Hoth is a good example, last time I checked it was 375% of the £17.99 Amazon UK price.
  • vwong19vwong19 Member Posts: 1,191
    ^It may also be because the set is not available in the States.
  • LegoFanTexasLegoFanTexas Member Posts: 8,404
    richo said:

    MMV must be the most highly stocked set for resellers in the history of lego. Even then, it's so nice, I still think it will jump quite a bit.

    It may be highly stocked, but the question is if there are 5,000 of these put aside by resellers, how does that compare to the volume TLG sells right now at retail price?

    Is it a month supply, 3 months, 6 months, two weeks?

    I honestly have no idea, but that is the missing information that will tell us something useful. :)

    I have stopped stocking up on it for that very reason, I have 50 of them and that is enough for me. To many other sets to pickup that I think are less overbought. But I could be completely wrong. :)
  • krklintkrklint Member Posts: 502
    I suggest paying attention to colour. The rarer a colour, the better (imo) the part out value. I haven't ever sold Lego, but as a person who does buy (smiles wryly at thought of next purchase) I know I have specific colours I love (dark green/dark red/dark flesh orange) that draw me to sets.

    I was told (probably old news) today by a Lego store employee that the modular fire station is nearing discontinuation, so the prices of dark red bricks will probably hold strong.

    Also noticing rarity of a piece, but rarity means few in any set, which leads to only making a profit if the other pieces in the set have a marketable value, too. The Emerald Night train is a great example. When that went on sale last year, it was a great part-out value due to rare colours and the resale value of train cars in this current train drought Lego is in (ok, trains exist, but I want more... More... MORE!) time to sign out and build something out of dark red bricks :)
  • DiggydoesDiggydoes Member Posts: 1,079
    Some interesting thoughts!
    I've already parted out 3x pet shop and 2x town hall,the pieces did really well! I'm now thinking if i shall buy some of the recent friends-sets to part-out! The contain so many rare colours but i have no idea if those colours really sell!
    And of course i'm going to buy a couple of "haunted house"es,i'm pretty sure their part-out value is nice,even regarding the fact that TLG raised the price!
  • CCCCCC Member Posts: 20,526
    One of the problems with pieces in rare colours is that you need to ensure there is also a supply of other pieces in that colour, for building pieces any way. If you can only get a few different pieces in one particular colour, it limits their use somewhat.
  • richoricho Member Posts: 3,830
    edited August 2012
    ^ true. I really wanted to have a go at building Kennilworth Castle, but the right colour would be dark orange, and it's just ridiculously hard to get a decent volume of it, not to mention key parts.

    In terms of all this parting out, I often part out sets for mocs and have loads of parts left over. Wouldn't mind having a go at bricklink at some point, but I really dont want the hassle of the potential tax liability of a business (which is what a dedicated store might be viewed as?), so at the moment its on hold. Might be a good stop gap for in between jobs.

    Quick question for any BL store owners, how on earth does anybody calculate profit on parted out sets? Given the massive breakdown of initial cost in to hundreds of pieces, not to mention the long term nature of any sales, it just sounds very difficult to me?!
  • LegoFanTexasLegoFanTexas Member Posts: 8,404
    Are you referring to Cost of Goods Sold for tax purposes, or just trying to figure out if you're making any money?

    From a legal accounting point of view, the way I'd do it would be to keep a running total of COGS, without trying to track unique parts. Buy a set for $100, that is a cost of goods. Sell 5 orders of $5 each worth of parts, that reduces COGS by $25, leaving you with $75 of COGS left. Continue this long enough and if you're profitable, your COGS would run down to zero at some point, paying off what your inventory cost, leaving whatever left "free". It would also then become taxable, if you're selling enough to have to pay taxes where you live.

    This is, my understanding how places like Half-Price books do it, since clearly they are not tracking unique inventory. Some tax authorities allow this, others do not.

    Now, if the question is, are you making any money, one way to tell would be to keep a separate bank account and separate funds, and to treat it like a business, if you have more money than you started with, you're profitable, if not, you're just doing a great public service! :)

    Depending on where you live, that might or might not be legal, from a tax point of view.
  • CCCCCC Member Posts: 20,526
    ^ That is what I normally do. I am fairly sure I have made a financial loss on just about every set I have parted and sold since I sell the minifigs and any parts I don't want and the rest gets kept, giving essentially free Lego.
  • richoricho Member Posts: 3,830
    interesting.

    I guess my main question, is that regardless of profit or no profit, how many bricklink sellers inform hmrc when they start up? In reality you have to inform them within 90 days if you set up a business. Having your own store is a business isn't it? The whole area seems a nightmare, which is why for now I have avoided it!
  • CCCCCC Member Posts: 20,526
    ^ I reckon close to zero. Much like ebay sellers.

    You have to be selling with the intention of making a profit to be interesting to HMRC. If you are selling unwanted, second hand stuff (and open lego boxes are second hand) and not making a profit, there is no tax to be paid. Of course, it is a different situation if you are selling sealed sets (or parts) for a profit.
  • LegoFanTexasLegoFanTexas Member Posts: 8,404
    richo said:

    interesting.

    I guess my main question, is that regardless of profit or no profit, how many bricklink sellers inform hmrc when they start up? In reality you have to inform them within 90 days if you set up a business. Having your own store is a business isn't it? The whole area seems a nightmare, which is why for now I have avoided it!

    A few points:

    1. The tax laws are very different from country to country, so what the law says will vary.

    2. I am personally of the opinion that governments everywhere tend to overreach on their tax laws, to catch as much of the fruit as possible, but that they know all too well that the small fish get through, and honestly aren't worth catching.

    3. In regards to your situation, first you have to define a business, then you have to decide if you agree with your government's definition. Plenty of people don't pay taxes they legally owe, nor should they (in my opinion) because trying to do so would be a huge pointless burden for very little gain on everyone's part.

    In regards to the last two points, in the United States, you're legally obligated to pay taxes on even just $1 in profit. Which of course is nuts, you'd spend more money figuring out how to do that then is owed.

    This is why the IRS has set the reporting rules to $20K. PayPal and Amazon will report your gross income to the IRS if they pay you more than $20K during the year, this is the level that they consider worth bothering about. Someone making a few thousand for a self-funding hobby, or selling off older items they don't want, is not worth bothering with, either by the government, or the person involved, even if the taxes are legally "owed".
  • LegoFanTexasLegoFanTexas Member Posts: 8,404
    Another point...

    I don't know how it works in the UK, but in the USA, the IRS doesn't tell you what you owe, you file your own tax return and tell the IRS what you owe.

    For the most part, the IRS takes everyone's word for it. If they doubt the information filed, they can audit you. This can be a simple request for information, such as a bank statement, deposit records, or some other paperwork to help them make sure everyone is being honest.

    It can also take the form of a complete audit, which is known for being a pain in the neck and keeps many CPAs employeed. :) But most audits are not complete, they are just cleaning up small errors and such.

    Sometimes, they are in your favor, if their computers detect that you overpaid taxes by mistake, they will adjust the return and issue you a refund. They will not, however, give you deductions that you missed, only overpayments.

    So deduct away, generally the worst thing they will do is disallow the deduction. What gets people put into jail is failing to report all income. You can have $1 Million of income and pay no taxes if you have deductions and tax-writeoffs of more than $1 Million. But if you earned $1 Million and only claim $100,000, that is what gets you sent to the big house.
  • richoricho Member Posts: 3,830
    ^ very interesting. I think for me its still on the back burner in terms of any selling. I think it would be a good project to do if in between jobs, but I just can't be doing with the hassle at the moment.
  • legoprodslegoprods Member Posts: 445
    edited November 2012
    Hi all,

    I've been discussing this with myself yesterday.

    I bought a #10217-1 Diagon Alley a long time ago, for a good price. That was when I read about all this thing about the Lego investment, and keep a set for a couple years in your closet, and blah blah. I thought, well, I love Legos so, why not try this apart from buying and selling bricks?

    When it arrived, the box was in pretty bad condition. The seals are still intact, but the box is not in good shape.

    Also, selling sets has always been somewhat boring to me. I like getting orders, picking parts, shipping them. They are usually more common than if you just ship sets. And they are easier.

    So... from your experience... should I part it out or shouldn't I? I know it might fetch a somewhat higher price in say, one year from now. But is it worth waiting one year for just 10 or 20 more bucks?

    Also, in one year I might have sold more than half of the parts and get the same return... or maybe not... UGH I hate this indecision! Please help!

    -G
  • CCCCCC Member Posts: 20,526
    edited November 2012
    If you want to get orders through bricklink, I'd suggest having more than one set parted out. You might sell of the minifigs OK, but for common parts to sell you need a lot of them or price them very aggressively (ie low).
  • BrickarmorBrickarmor Member Posts: 1,258
    ^Agree. You'll recoup some pretty quickly, but there are BL sellers who've parted out dozens of DAs and can thus price a bit lower than 6 mo average. But if the box is beat up and you got a good price on it and money can take a backseat to the enjoyment you seem to derive from parting, pulling, and packing, part away my friend!
  • PhoneboothPhonebooth Member Posts: 1,430
    If you're in the uk, I'd offer %15 over why you paid for it :)
  • PhoneboothPhonebooth Member Posts: 1,430
    *what - stupid iPhone autocorrect
  • jadedancjadedanc Member Posts: 1,302
    @adammullins Doesn't that bug the heck out of ya when iPhone does that? I fuss at my phone all the time for that :)
  • dneuldneul Member Posts: 369
    jadedanc said:

    @adammullins Doesn't that bug the heck out of ya when iPhone does that? I fuss at my phone all the time for that :)

    You can turn autocorrect off in the settings.

  • Brickassaul21Brickassaul21 Member Posts: 9
    I am looking for a cheap set $20.00 or less that is currently out and has a great part out value in the future I am having a hard time picking out a set I want one that has good value and has good minifigs for my minifig collection
  • CapnRex101CapnRex101 Administrator Posts: 2,364
    edited November 2012
    @Brickassaul21 - Parting out wise, perhaps something with pieces in rarer colours and exclusive Minifigures might be the best option, I am thinking of these sets #6867 and #6866, although there are probably some great value unlicensed sets as well.
  • ColoradoBricksColoradoBricks Member Posts: 1,659
    They are starting to disappear from the shelves but I like PoTC #4192 and #4181 with 4 minifig each (ok, one of them is a generic skeleton) and can be found rather cheap now with many parts. Also at $12, can't beat the 4 HP minifig with #4865 but it has very small part count...
  • BoiseStateBoiseState Member Posts: 804
    Forbidden Forest.
  • chuckpchuckp Member Posts: 684
    I agree with CapnRex about the colors and minifigs. I would also suggest the 6862: Power Armor Lex. Lots of nice green & trans green parts, joints and I would bet the only place you'll see a Wonder Woman, Lex Luthor and classic Superman for a while.
  • BoiseStateBoiseState Member Posts: 804
    Ya, that's a good set.
  • BoiseStateBoiseState Member Posts: 804
    Not under 20, but the Urak-Hai set is close and a great cheap set to part out. 6 minifigs plus a horse, and the big ballista thing.
  • Dread_PirateDread_Pirate Member Posts: 184
    For a good viraiety of pieces and 3 minifigs for $20 at wallyworld is the Recycling truck. It is discontinued at [email protected] but around my neck of the woods it is widely available at TRU, Target and WM. The set # is 4206
  • Ma1234Ma1234 Member Posts: 693
    Dread_Pirate said:

    For a good viraiety of pieces and 3 minifigs for $20 at wallyworld is the Recycling truck. It is discontinued at [email protected] but around my neck of the woods it is widely available at TRU, Target and WM. The set # is 4206

    4206 is $30 and , in the United States at least, only at Wal-Mart.
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