Open/Closed Set Value

crazycarl

In general how much do you think opening a set depreciates its value? By opening I mean opening and putting it together.

richo

depends on the set. If I was pushed in to a very rough guide, I would say at least 30%.

Penkid11

^Unless its Minecraft. Right now I've had an used and built one up for auction for the past daythat is at just about 100% profit from the original price of the sealed set.

LegoFanTexas

Penkid11 said:

^Unless its Minecraft. Right now I've had an used and built one up for auction for the past daythat is at just about 100% profit from the original price of the sealed set.

But that is still about 30% less than they are going for...

Keep in mind they are running around 3x RRP right now, so selling a used one for 2x RRP is about 30% off.

mathew

^ I should of probably held out for more with the one set that I flipped. I just don't get it though. It's such a rinky-dinky set. And I like Micro-builds. Are parents that crazy to pay over $100 for it this Christmas?

fy222

utterly incomprehensible. even at RRP, looks to be overvalued.

again the old saying, beauty is in the eye of beholder and value exists only to what is perceived by the buyer...

crazycarl

Around my neck of the woods on craigslist that set can be had for $150-200. RRP is $299. One is in sealed box.

crazycarl

richo said:

depends on the set. If I was pushed in to a very rough guide, I would say at least 30%.

like as in a 30% under RRP? I guess I should also clarify that most of my open sets are discontinued. My favorite is the Black Knights Castle 6086. However that one is missing the box. It was from my childhood when I never thought about future value. I was just wondering for my daughters sake. I am a builder/player not so much a collector. Yet all my "collection" will be passed down to her to sell, unless she gets addicted to Lego like daddy.

prof1515

I would say it's more than half because lower figures like 30% are often reflective of recently-discontinued (ie, last five years) sets. Take a look at some older sets and you see that box condition (ie, sealed) increases their value by more than a factor of ten. Part of this has to do with the number of sealed sets still available. That number will ALWAYS decrease once a set is no longer being produced by Lego. The minimum might be 10%-20% but there is no upper limit over time.

crazycarl

So lets say this. If I have a Green Grocer 10185 set MISB it could get up to $650. If the same set were opened and put together once or twice it would only be worth $74.99? That is to say original retail was $149.99, and that would be half of retail. Is this correct? Or would it be half of the appreciated price $325?

Yodalicious

Half of the $650. Not half of retail. Opened or sealed, it's still a desirable set. If someone listed an open, complete one for $75, it would sell in mere seconds.

LegoFanTexas

But the rule isn't even... GG is more recent, and will go for more than $325 used. $450 is a closer number to its actual used value right now.

Yodalicious

Basically, depending on set, demand, etc. you're looking at 50-75% of the value if opened vs. sealed. BUT it also depends on quality of opened. Used, built once, played with, etc. Too many factors play in to determine an actual %. Best to just look at Bricklink and see what the current market is asking.

crazycarl

That makes sense to me and is what I was thinking. Like I said earlier I will never sell them. Now If, when passed down to my daughter, she decides to sell them who knows what 20 years will do to their value. Like you said Yodalicious "too many factors". All depends how bad someone wants it I guess.

Yodalicious

Exactly. There are definitely ones I will pay a premium for because I want them. Nothing to do with future value, etc. but because I desire a certain set, I may pay more.

crazycarl

Just curious, but what sets are your favorite?

Yodalicious

I just came out of my dark ages earlier this year thanks to having a son and the release of the LOTR line. So far I've limited myself to the Modulars, certain Star Wars sets, certain Collectible Minifigs, and any and all LOTR/Hobbit. Almost 9 months in and I've done a great job sticking to that, but I'm not sure how long that will last. There are a few Black Pearls that just resurfaced at the Target near me (AFTER BF!!!) and it's calling my name.

The problem for me now is that I last collected in 1999/2000. So I have the very first run of Star Wars, but missed out on some great stuff. I don't want everything Star Wars, but there are some out there I want to find. Of course, all of this is with intent to build and (one day) have for my son and I to play with. I don't look at it as an investment or to resell. I'm strictly on the side of wanting to build and use my LEGO. That said, the UCS R2-D2 is a great example of something I'm completely on the fence about. I love R2, think it's a great looking set, and there's currently good deals to be had on it, but it has no playability to me and therefore it's probably a pass.

crazycarl

The Black Pearl is a great build man! In fact that set was in the black friday add for $74.99. The wife and I found one on clearence at our Target for $69.99 last year. I told her it was now or never so we bought it and took 2 nights (about 3 hours total), to build. I love lego for this reason. My wife has one hobby, but when I dug up my old legos about two years ago and we built some of my 1986-1992 kits she was hooked. We now have a 4'x8' layout next to my HO scale layout inthe basement. Its cool now cause while my wife and I build a kit at the dinning room table, our daughter (15 months) is playing with her Duplos. This is what lego was meant to be! The fact that there are collectors and their value increases is just the bonus.

P.S. We are also looking at the R2 kit. Think Im going to pass now since I bought the wife the whole 2010-2011 harry potter lot for christmas.

Yodalicious

That's part of my issue. It was $75 on Black Friday and the 2 Targets closest to me didn't have it. Magically the next day, they both have them, but at $100 of course. It could also push me into another theme. If I get the BP, then I want the QAR...sigh.

crazycarl

Not me. I just want the black pearl and maybe the queen anns revenge. I mainly collect city for our layout. I do however have a few MISB tie fighters cause walmart sold them for $34 and an older AT-ST. And now the whole harry potter hogwarts collection. I used to have alot of 1986-1990 space theme stuff but traded it to a friend for city. Also have some old castle theme. I'd get the BP when they put it on clearance if I were you. If no one buys it before christmas it will get clearanced.

jpcz

The QAR is not too bad right now in terms of price compared to rrp. I just yesterday picked up a copy for 150dlvd on BL (bc I too got the BP at targets bf price and then said I needed this one). All things considered, that's not a bad price markup for a set recently eol, in my opinion

Yodalicious

Let's just say I'm very tempted. I'm going away for the weekend and if any are left when I get back, I may have to pick it up.

The sale on TIE Fighters has been crazy lately. Seems every place wants to get rid of them at $35.

mdelleman

Every so often I buy a set or two (not planning to build right away) and just can't help but want to break the seal on it and check out all the shiny new LEGO inside!

Question - IF I do so and don't end up building and keeping the set what does it do to the value compared to keeping it MISB?

Renny

It would definitely affect the value but not really by much. I'm guessing here but it would probably retain 85% to 90% of a sealed set. I think you may need to also reassure the buyer by providing a return policy as I am always a little cautious of open box sealed bag sales with no returns. Buyers may be a little concerned that it might be missing a bag whereas a sealed set the buyer knows (for the most part) that everything should be included as that's how it was sent from Lego.

Thanos75

That remindes me..... I gotta pee

kor

^ LOL!!

mdelleman

^^ Can't go back after breaking the seal!

I took a 7965 that i've long wanted but now wonder if I will keep long term. I don't collect Star Wars but having a Falcon and eventually a Death Star would be probably be the extent of my SW collection.

I have sets in front to build, Green Grocer being one but how can you resist a beautiful crisp new LEGO box!

JamesJT

Use a hairdryer to lift the seal away without messing up the box, have a peek inside and close again with the hairdryer - the perfect crime!

Bustin

^ you just got blacklisted on brick link and eBay. :)

omgitsrenzo

Say I already opened the set and built it. I put them back into ziplock bags and packed in the original boxes and stored in a great environment. Would that affect how I could potentially sell it in the future? will it go for more it it was unopened or does it not matter?

Pitfall69

Yes, it does affect the value. I would say 20-30% depending on the set.

dragonhawk

This has been discussed in this thread:
http://www.bricksetforum.com/discussion/7892/openclosed-set-value

Coolsplash

Depends mainly on the set and how you repack and store it. Whenever I sold any sets as Used I was able to fetch almost the price I had paid for the set. So I do not think you will loose money reselling a set as Used. LEGO is great in that respect and as a investment as well :P But, an unopened set can always fetch a profit.