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Request Valuation of 1968 Semi-Trailer Truck (334)

benstoybarnbenstoybarn Member Posts: 12
edited May 2012 in Buying & Selling Topics
Hello everyone, I am new to this forum, and although I am a relative toy expert, LEGO isn't my strongest field. Having acquired this piece, collectorsweekly.com/stories/19312-1968-lego-model-maker-building-toy-334-s?in=user , I am wondering what sort of realistic value it should attain. imageImage and video hosting by TinyPic

Comments

  • benstoybarnbenstoybarn Member Posts: 12
    edited May 2012
  • CCCCCC UKMember Posts: 20,004
    I'll offer him 2x the higher price tag.
  • benstoybarnbenstoybarn Member Posts: 12
    Is it really worth that much?
  • benstoybarnbenstoybarn Member Posts: 12
    Best offer so far is £190 !!
  • CCCCCC UKMember Posts: 20,004
    I just realised it is your own ebay item you are promoting.
  • OdinduskOdindusk Member Posts: 763
    edited May 2012
    Is it really worth that much?
    Not until someone pays what they're you're asking. There's no real precedence for these graded sets. Their worth is highly subjective right now.
  • benstoybarnbenstoybarn Member Posts: 12
    I don't often deal in LEGO and don't know what's rare and what's not, but this item has been getting a lot of attention. I'd thought I'd put it out there amongst all you LEGO enthusiasts so you can all have a look. collectorsweekly.com/stories/19312-1968-lego-model-maker-building-toy-334-s?in=user
  • benstoybarnbenstoybarn Member Posts: 12
    Is it really worth that much?
    Not until someone pays what they're you're asking. There's no real precedence for these graded sets. Their worth is highly subjective right now.
    According to the AFA population reports, it's the only one of it's kind in circulation. So there's no real comparisons on price. I only put it up for this price as someone was selling this AFA graded LEGO item below for the same price, so I figured that if they can ask that for their item, then surely mine should be at least worth that as although it hasn't graded as high, it's definitely a lot older. http://ebay.co.uk/itm/180797982546#ht_726wt_1063

  • benstoybarnbenstoybarn Member Posts: 12
    Bigger pictures! Any comments or feedback would be most welcome and much appreciated.
  • benstoybarnbenstoybarn Member Posts: 12
    Detailed AFA Grade Report!
  • CCCCCC UKMember Posts: 20,004
    Note how many bids his item got. You can ask what you like for it. It doesn't mean anyone will pay that much.

    If you want to sell it be realistic - let a real collector have a look and take what they offer.
  • sidersddsidersdd USAMember Posts: 2,432
    Looks like a new one sold on Bricklink back in January for $490:
    http://www.bricklink.com/catalogPG.asp?S=334-1

    Dunno what exact condition it was in. @istokg can probably speak to the history of this set and its rarity.
  • CCCCCC UKMember Posts: 20,004
    ^ And one seller in Belgium has three used ones, varying from 90-140 Euro, depending on the condition of the box.
  • benstoybarnbenstoybarn Member Posts: 12
    Thank you for the advice and comments, I might put it on for a ten day auction and see what happens.
  • IstokgIstokg MichiganMember Posts: 2,294
    edited May 2012
    OK... since I'm the proverbial expert on old LEGO... I want to mention that I have a rather low regard for "encapsulated" toys. Most toy collectors do not use encapsulation services (a scenario more suitable for coin collecting than for toy collecting).

    In fact, I discussed this with several large antique toy sellers, and they felt that one seller got into encapsulating toys as a way to make money, by starting the encapsulation services for larger collectibles.

    The entire premise of "only graded set" or "none graded higher"... is of no use to LEGO collecting. Why? Because 99.9% of all rare old LEGO sets have never been encapsulated. So the claims associated with encapsulation are meaningless. This is not coin collecting, where the encapsulation services of PGS, NCGS and ANA, and others are more universally accepted (although even coin collectors like to resubmit their coins several times, until they get a higher grading review... thus rendering the "only 3 graded higher" scenario as meaningless).

    I've seen a 1960s #005 LEGO Discovery Set encapsulated and selling (originally) at $7,200. A ridiculous price to say the least, since this large set shouldn't come near such an astronomical price... more like $700 tops.

    I know many of the large ($50,000-$100,000) LEGO collectors of old sets, and they do not even own a single encapsulated set, even though they own large numbers of old MISB sets.

    The #334 set in question is the USA Samsonite version of this set. The continental European version of this set says "LEGO System" on the logo, while the Britain/Ireland/Australia version of this set would say "True Building Toy". If it were Canadian, this set would have 'LEGO Model Maker with the English/French writing. So this is indeed a USA (Loveland, Colorado) produced version of the #334 set.

    Also I question the AFA (Action Figure Authority) credentials on calling out the rarity of any LEGO set. They likely base their comments only on the "population count" of graded LEGO sets.

    Charging a price equivalent to over $40 per part in this set is to put it mildly, "excessive".

    I wouldn't pay more than $500 for this set... and then it better be a flawless MISB example, without box stresses.

    I know I sound unusually harsh on this. But large LEGO collectors usually avoid the "gimmick" of encapsulation.
  • benstoybarnbenstoybarn Member Posts: 12
    Thank you for the very informative information.
  • LegoFanTexasLegoFanTexas TexasMember Posts: 8,409
    I am no expert on old Lego sets, however I do have a history with baseball cards and coins in the 90s, so with that being said, here is my opinion...

    Currently, it appears that professionally graded and encapsulated Lego sets is rare and not "expected" by Lego collectors.

    The future, however, may well be along these things. Lego has recovered from the disaster that was the 90s, they moved on from the basics of the 70s-80s, and now are producing a world class product that stands on its own, rather than having to be "special" to survive.

    I've taken a closer look at what was sold 20+ years ago, most of it was rubbish, the only saving grace was the abundance of baseplates which I think was a shame to lose.

    However, I'm in my mid 30's, grew up with Lego in the 80s, as Gen Xers grow into middle age, we are showing a strong desire for everything from our childhood (witness all the Transformers/G.I. Joe/Marvell movies and toys), plus the value of new in box examples from the 80s is pretty good, but most of them are just sitting on a shelf.

    I predict that 10 years from now, there will be a niche market for graded and encapsulated Lego sets from the early years, anything pre-1990. These sets will be prized beyond the value normal Lego collectors here would put on them. Your comment of "$40 a part" is meaningless when the set will never be opened and is prized for bring rare above all else. Is $1,800 too much for that set? Probably... Is $800 too much? No, I think that to the one person in the world who wants it, they would pay that. But probably not today, it might need a few years to build a market first.

    These are my thoughts, and of course I could be flat wrong. :)
  • CCCCCC UKMember Posts: 20,004
    edited May 2012
    The problem I have with encapsulation of Lego is that the Lego is not checked. I also come from the cards market (CCC=cigarette card collector or tobacco cards in the US market), where prized cards are encapsulated - although this is more of an American thing than a UK thing. For coins, cards, etc it makes sense, since you can see the encapsulated product. For a sealed Lego set, you encapsulate a box that makes a noise when shaken. The "expect" that grades it does not see what is inside. If he does, he reduces value by opening it. Then down to the expert - has the expect checked seals and does he know about people opening with a knife and re-gluing seals. Is he going to put his name on it if he does not know what is inside? If he grades it and it turns out when someone buys it that the product was switched before grading, is he going to compensate, for being wrong in his grading?

    I'd prefer a set to be un-encapsulated, and allow a buyer to look at the product himself. Someone buying something like this would have enough knowledge to check the box over by themself, and not need an expert to do it for them.
  • LegoFanTexasLegoFanTexas TexasMember Posts: 8,409
    ^ True... however the Lego inside almost doesn't matter, because the box will never be opened, so who really cares what is inside?

    Strange, I know, which is why I said it will take time for the market to shift towards acceptance of this new system. Or it won't, only time will tell.
  • fyrmedhattfyrmedhatt Member Posts: 128
    edited May 2012
    @LegoFanTexas - I dont understand why anyone would encapsulate the Lego produced in the eighties and early nineties as in doing so you are removing what is possibly the best way to enjoy the set in MISB condition, namely lifting the lid to look at all the parts in their clear plastic. Of course if anyone could come up with a capsule that would allow you to lift the lid, that would be different. Encapsulating todays sets might make more sense in that regard.

    Also, I think Lego collectors are notorious for opening their treasures. If I had a more robust income I wouldn't hesitate paying the $600-$1000 for a 6086 Black Knight's Castle or a 6285 Black Seas Barracuda to fulfill my childhood dreams of being able to build these sets right from new condition.
  • weinnerweinner Banned Posts: 148
    Those prices are crazy
  • OdinduskOdindusk Member Posts: 763
    edited May 2012
    Encapsulated LEGO is certainly an odd thing. I own one, but I can't see myself ever selling it. But I've thought about if I were to sell it, that it would have the potential to be a scary situation for me.

    I can't prove to the buyer that there's a LEGO set in the box. I have the letter from AFA to say that it's authentic LEGO and inspected and yadda yadda yadda. But I can just see me selling it, and then the buyer contacting me later on and saying, "I cracked the case open to get to the box and build the set, and half the pieces are missing. I'd like a refund."

    I have no doubt that my sealed, AFA'd set is sealed and complete (or at least 99% complete, accounting for the chance that LEGO shorted me a piece in the packaging process). But if a buyer were to intentionally scam me and do what I mentioned above, who would Paypal side with?

    With encapsulated comics and coins and cards, there's no question about what's inside. I do not believe that LEGO of this sort will ever take off and gain momentum in the collector's market because of this.
  • benstoybarnbenstoybarn Member Posts: 12
    Have decided to put it up for auction and see what happens. Here's the link: http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=180875004415&ssPageName=STRK:MESE:IT#ht_1066wt_829 .
  • LegoFanTexasLegoFanTexas TexasMember Posts: 8,409
    ^ Fair enough, but you have a reserve, and I don't bid on reserve auctions... If a seller wants a given price for it, start the bidding at that price and skip the reserve nonsense. That stuff is for real world auctions, not eBay, in my humble opinion.
  • DaddyDeuceDaddyDeuce Member Posts: 272
    Encapsulated LEGO? Those are trading sardines, not eating sardines.
  • OdinduskOdindusk Member Posts: 763
    but you have a reserve, and I don't bid on reserve auctions

  • benstoybarnbenstoybarn Member Posts: 12
    Well I bid on an item the other day with a reserve and won it for a bargain price! http://www.ebay.co.uk/itm/140723696629?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1439.l2649#ht_1763wt_1063 Perhaps I won it because many of you have the same idea about not bidding on item's with reserves! If that was the case then it definitely worked to my advantage! Its never bothered me about bidding on an item with a reserve! I just bid the amount that I am prepared to pay and then walk away! If it meets the reserve or not then that is out of my hands, but at least I know that I have a chance which is surely better than not bidding and missing out all together! If I had a more accurate idea of price for this item, then perhaps my starting bid might have been the lowest I'd accept, but I've had some many conflicting estimates, that I simply just don't know. I did see that an example described as new sold for $490 on Bricklink a while back, but there's new and new and different grades of new. You could get a box which is dented and creased with faded colour and cellophane removed but because the box is still factory tape sealed, it's classed as new but might only be worthy of an AFA 60! My item is new and has graded as an AFA 80 which is a near mint standard! By having this item encapsulated, I'm preserving this item's condition. Thank you all for comments, I've taken them all on board but didn't quite get the "Sardines" bit! It sounds like echoes of Eric Cantona!
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