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2014 Reseller Challenge
SirKevbags
Fairy Land Member Posts: 4,027
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!
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!
39
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Comments
Hmm, should I start with Galaxy Squad sets or not? Hmm...
Go to have some southern competition for our Australian brothers :)
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...
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.
Great idea and good luck everybody!
@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 :-)
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?
Happy to write a note for the Mrs ;-)
@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.
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...
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..
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 :-)
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!
- 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?
So @rocao are you number 7?
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
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 :-)
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.
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!
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 :)
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
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!
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.