Shopping at LEGO or Amazon?
Please use our links: LEGO.comAmazon
As an Amazon Associate we earn from qualifying purchases.

2014 Reseller Challenge

124

Comments

  • xeeeejxeeeej Member Posts: 71
    Initial purchases:
    2x #7965 @$75 each.
    1x #79010 @ $10.

    Round 1 net proceeds (after fees, taxes, supplies, etc): $295

    Round 2 purchases:
    9x #79010 @$10 = $90
    5x #6860 @$35 = $175
    1x #70006 @$25 = $25

    Round 2 net proceeds as of 1/30: $305
    Remaining inventory:
    3x #79010, 5x #6860, and 1x #70006

    Net profit at month end:
    -$160
    +$295
    -$90-$175-$25
    +$305
    _________
    =$150
    EKSam
  • jadeirenejadeirene US, CaliforniaMember Posts: 474
    ^Where the heck do you find those deals? 10 #79010 for $10 each?? I think I need to move to where ever you live.
    weevinscrumper
  • legomattlegomatt Member Posts: 2,543
    8oO
  • MorkManMorkMan Phoenix, Arizona, USA.Member Posts: 898
    Impressive. I can't imagine how well you'll all do by years end.
  • 111ins111ins Member Posts: 265
    Nothing to report yet, but a project is under way that will involve the kids giving a hand... will list the items asap once they are ready.... it will be tough though, going against $10 #79010 's!
  • flyingpigflyingpig Member Posts: 119
    Weeeeeeeee.

    Start $160
    Purchase: 1x Architecture studio. -$150 USD
    Sold: 1x Architecture studio. +$378.16 USD
    NET = +$218.16


    I just realized you're in the UK and donating sets will be problematic. Hmmm. I'll think of something. I may match xeeeej's commitment to donate $250.



    Man, I wish I had dozens of SoCal bigbox stores to raid clearance aisles. And I wish I had that weather...
  • wagnerml2wagnerml2 Belleville, IllinoisMember Posts: 1,376
    @sirkevbags I sent you a pm but I'm getting a funky error message. Did you get it?
  • RedBaronRedBaron Member Posts: 6
    @sirkevbags I sent you a pm. Working on a few things but no news yet.
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    @wagnerml2 Yes it's received

    @flyingpig We can worry about logistics later in the year. I hope everyone has assumed this but the proceeds of this effort will be spread worldwide. Rather like the raffle, this is an international effort so there will be international donations. Great work so far everyone. I'll have the leader board up later today. Probably afternoon UK time.
  • scrumperscrumper UKMember Posts: 317
    legoprods said:

    I mean, who cares if they bought a MF form 100$ and sold it for 2000$? All profit is going into Fairy Bricks, so, if they are donating 1900$, let them win the game! ;-)

    I'm happy to lose to somebody who chooses to do this but only if they are donating 100% of the profits. I joined the competition primarily to raise funds I have no expectations of winning but will be donating whatever I make.
    SirKevbags
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    Ok here we go.......

    @flyingpig £136.35
    @rocao £133.75
    @xeeeej £93.75
    @simon_ratcliffe_101 £92
    @Basta £58.48
    @wagnerml2 £51.88
    @legogregors £51.58
    @scrumper £49.70
    @leego76 £25
    @CupIsHalfEmpty £0
    @coachie £0
    @RedBaron £0
    @111ins £0
    @cheshirecat £0
    @LegoFanTexas NR
    @ecmo47 NR
    @legoprods NR

    So there we have it. Tight at the top and a fantastic effort so far all round. Don't worry about the ducks. They may show zero but in many instances it's because the Earned profit has already been spent on new stock ready to be churned again :-)

    Nearly £700 in a month. That's without taking account of held stock. If that could be averaged for 12 months that could take care of around 20 hospitals. Now I appreciate that is a long way off folks but it would be a lovely target don't you think?
    xeeeejsidersddStormKittyBastaEKSamBuzzsawYellowcastlegifinimmargot
  • legogregorslegogregors Member Posts: 402
    Great job everyone!

    I have reason to worry about the ducks...

    I am literally selling ducks during February as part of the challenge! I will be posting in the Charity Marketplace later this afternoon.
    legomattscrumpersidersddYellowcastle
  • sidersddsidersdd USAMember Posts: 2,432

    Great job everyone!

    I have reason to worry about the ducks...

    I am literally selling ducks during February as part of the challenge! I will be posting in the Charity Marketplace later this afternoon.

    Ah, is that your duck I saw posted on eBay? I almost bought it. I will if it's part of the charity event.
  • rocaorocao Administrator Posts: 4,290

    So there we have it. Tight at the top and a fantastic effort so far all round. Don't worry about the ducks. They may show zero but in many instances it's because the Earned profit has already been spent on new stock ready to be churned again :-)

    Might I suggest that we report the MSRP of our held stock minus initial starting capital as unrealized gains? That would give us a decent sense of where we are. @xeeeej would shoot to the top, and we could be tracking something other than zeroes.

  • wagnerml2wagnerml2 Belleville, IllinoisMember Posts: 1,376
    That's what I was wondering. When I reinvest the profits, everything above the initial $160 goes towards profits, correct? We are seeing what a total can be leveraged from the initial $160? Forgive me, I graduated law school but got a C in micro economics.
  • legogregorslegogregors Member Posts: 402
    edited February 2014
    I was picturing this as reported earnings for January 2014. For me $80 profit so now my cash and inventory is $240. At the end of February I make another $80 profit, I am up to $320 cash and inventory. If I lose $ on a speculation than cash and inventory goes down.

    I am also using wagnerml2 spreadsheet to track fees and determine profit but this approach seems logical since some are selling sets, splitting sets and bricklinking. In December we cash out and back out our $160.
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    This is how I see it......

    You start with capital of $160 in January. All spent on stock, sold and after fees you're sat with $300.

    If the contest ended after a month you would have $140 to declare for the leader board and donate.

    But it's a year long contest so essentially you have $300 capital in February to speculate with.

    Now how much is re invested is up to the individual. You may wish to protect your gains from the previous month and just spend the initial $160 again or go all out when you find the #10179 for $300 somewhere ;-)

    Lots of different strategies to take which should make things interesting.
  • LegoboyLegoboy 100km furtherMember Posts: 8,825
    edited February 2014
    ^ Yes, that's how I saw it ie. the amount of cash in hand over and above the initial $160 available to donate.

    That said, I don't suppose there's any harm adding a note to inform those following how much stock the contender is holding to demonstrate they've reinvested their takings. ie. $0 (plus $300 stock).
  • CCCCCC UKMember Posts: 20,388
    edited February 2014
    I reckon the winner will have £0 / $0 cash in hand for every month, then a healthy profit at the end.

    Whereas a non-investor will have £100 in cash every month with no profit at the end. If money is not invested, it is going nowhere.

    Posting profit for the month and cumulative profit makes sense, even if those proceeds are reinvested.
  • rocaorocao Administrator Posts: 4,290
    edited February 2014
    ^ Right. I was suggesting tracking both realized gains (cash) and unrealized gains (MSRP of inventory). If we just did the former, I might as well mark down that I will have zero cash for each month for the rest of the year and never be too far off base. No one would really know where I'm at until December, and if that's the case for other participants, frankly, it's not very interesting for the duration.
    timinchicago
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    edited February 2014
    I get where @rocao is coming from. If someone is going for the "churn and earn" approach then come every leader board there is no money but $1000 worth of stock. It is more interesting to be monitoring both.

    Ultimately of course when December comes the final leader board will be based on cash as set out at the very start.
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    Ok so January is done. When it comes to the reporting for February, if everyone could just pm me two numbers.

    Cash held OVER their initial investment
    RRP Of currently held stock

    Then all the chatter can be kept here in the thread, "they might be worth £300 retail but you will never see it, NEVER!" ;-) That type of thing.

    You will have to excuse me now. I'm warming up for the Superbowl and all the eating that entails by entering a Yorkshire Pudding eating contest this afternoon. Bring on the gravy.
    LostInTranslationYellowcastle
  • ecmo47ecmo47 North CarolinaMember Posts: 2,101
    ^What time does it start in Merry Old England? Must be late!
  • cheshirecatcheshirecat Member Posts: 5,331
    5 hours after it starts in NY/NJ. Think the programme starts at 10.30pm or something, the game an hour later.
  • BastaBasta Australia Member Posts: 1,259
    I have 48 (2 Boxes) Friends Series 1 bags that retail for $5.99 AUD, but no chance I sell them even close to RRP, on top of that RRP differes between regions.

    Also I'm not sure what the RRP of the Clone Trooper Lieutenants Polys I have is, as they were give always. (Lol, as I typed that I just got an email notification that the last 3 I had, sold. I suppose I don't need to worry about them then).

    Still, as others stated listing what we have in stock helps give a better overall idea where we are at, even if its not going to be an exact measure of profit.

    Since I sold my first Items, I have purchased a bunch of stuff including another Dino HQ which did well last month. I just need to decide what to use for the challenge.
  • scrumperscrumper UKMember Posts: 317
    I think listing stock value is a good idea but at the cost price not RRP.

    Re-reading earlier posts I think I've declared the wrong figure for Jan. This my summary for the month.

    Opening balance £100.00
    Total spend £118.33
    Net income £68.05
    Net profit on sold items £11.72
    Current stock at cost £62.00
    Closing balance £49.72
  • legomattlegomatt Member Posts: 2,543
    edited February 2014

    ***SUPERBOWL SPOILER***

    I'm warming up for the Superbowl and all the eating that entails by entering a Yorkshire Pudding eating contest this afternoon. Bring on the gravy.

    Did you by any chance get The Broncos autographs while there, too? I could swear that must've been their preparation.
  • CCCCCC UKMember Posts: 20,388
    scrumper said:

    I think listing stock value is a good idea but at the cost price not RRP.

    Yes, it is unlikely that everything held will be sold at RRP so that over-inflates the figure.

    Which is why a score of profit made each month, and total cumulative profit is one of the better indicators of how everyone is doing. Presumably most investors are buying items they could at least get their money back on if push comes to shove and they need to get rid of it fast.

    But I'm not playing, and I think there is going to be a clear winner already, so I'm not that bothered how figures are reported. All that matters now is that healthy profits are delivered at the end of the game.
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    Just a reminder folks its leader board day tomorrow. Can you pm me two numbers please

    Cash held OVER your initial investment. DO NOT include your initial £100 etc.
    RRP Of currently held stock

    Fingers crossed that everyone has had a good month :-)

  • cheshirecatcheshirecat Member Posts: 5,331
    I assume that means if we have no cash we report -£100? And then the rrp of stock held.
  • scrumperscrumper UKMember Posts: 317

    Just a reminder to pm your totals today folks to avoid being listed with NR (Not Received) next to your name. Punishment involves M*** B*****

    M***B****FanTexas?

  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027

    I assume that means if we have no cash we report -£100? And then the rrp of stock held.

    Yes, why not :-) Negative equity now is not the worst thing in the world.

  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    Apologies for not updating the leader board. I've been away on an in successful football trip. Home later today so I should get it done tonight.
  • legomattlegomatt Member Posts: 2,543
    edited March 2014

    I've been away on an in successful football trip.

    The uncertainty of the success (or not) of that football trip has me desperate to know more about it, maybe.

    Was it the Heisenberg vs Schrödinger game?

    It was on the box, or was it? I didn't read the paper it would be advertised in, so it possibly wasn't in, or on, and maybe never happened as a consequence. Arsene Wenger used to manage there, I believe, he still applies the fundamentals of selective reality.

    :o)
  • xeeeejxeeeej Member Posts: 71
    *crickets*
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    Thanks for the boot up the arse @xeeeej :-)

    February Cash Leaderboard

    @xeeeej £230
    @Basta £125.10
    @wagnerml2 £51.25
    @leego76 £28
    @CupIsHalfEmpty £0
    @scrumper £0
    @cheshirecat £0

    RRP Stock Leaderboard

    @cheshirecat £240
    @leego76 £210
    @xeeeej £181
    @scrumper £115.97
    @wagnerml2 £109.38

    Lots of non reports. Everyone must be busy sourcing and flipping :-)
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    And a most honourable mention to @StormKitty who has generated £203.56 profit from the sale of Movie minifigs. Pretty good from an initial investment of £24 :-)
    LostInTranslationindigobox
  • SirKevbagsSirKevbags Fairy Land Member Posts: 4,027
    In my haste to post the Leaderboard I missed the inventive @legogregors‌ who at the end of February was sitting on a healthy cash profit of £136.60, placing him second in the table.
    margot
  • legogregorslegogregors Member Posts: 402
    Thanks Kev!

    Just to be clear, as of February 28th I consider my cash position to have been £0 and my Inventory to be £227.

    In USD that would be $0 cash and $378 inventory which includes my $160 seed money from the beginning of the challenge which I will continue to leverage.

    Good luck everyone!
  • legogregorslegogregors Member Posts: 402
    As of March 31st I consider my cash position to be £0 and my Inventory to be £333.

    In USD that would be $0 cash and $555 inventory which includes my $160 seed money from the beginning of the challenge which I will continue to leverage.
    CCCindigobox
  • xeeeejxeeeej Member Posts: 71
    Cash: £288.25
    Unsold: £93.74
  • cheshirecatcheshirecat Member Posts: 5,331
    Nothing happened this last month. So still

    Cash: £0
    Stock: £240 + a big bag of licensed minifigures (SW and LotR) value unknown
  • BastaBasta Australia Member Posts: 1,259
    Didn't get anything sold this month, only acquiring so I have £125.10 in stock.
  • scrumperscrumper UKMember Posts: 317
    Cash: £0
    Stock: £255.95 + entry in the Mixels competition on behalf of Fairy Bricks (not that I'm trying to influence the judges or anything) ;-)
  • scrumperscrumper UKMember Posts: 317
    April 25th

    Cash: £0
    Stock: £319.92
  • xeeeejxeeeej Member Posts: 71
    Cash: £0
    Stock: £1137 RRP
  • BastaBasta Australia Member Posts: 1,259
    Well I am no threat of wining this thing :P

    I have not been doing any reseller challenge sales as I have been busy, so am still where I was last month.

    Nice work there @scrumper & @xeeeej :)
  • scrumperscrumper UKMember Posts: 317
    :-O Congratulations @xeeeej but why are the shopping threads not full of tip offs from you. :-)
  • legogregorslegogregors Member Posts: 402
    As of April 30th I consider my cash position to be £0 and my Inventory to be £489.

    In USD that would be $0 cash and $824 inventory which includes my $160 seed money from the beginning of the challenge which I will continue to leverage.
  • wagnerml2wagnerml2 Belleville, IllinoisMember Posts: 1,376
    I've had a bad month. No sales for me.
Sign In or Register to comment.

Shopping at LEGO.com or Amazon?

Please use our links: LEGO.com Amazon

Recent discussions Categories Privacy Policy Brickset.com

Howdy, Stranger!

It looks like you're new here. Sign in or register to get started.

Brickset.com is a participant in the Amazon Services LLC Associates Program, the Amazon.com.ca, Inc. Associates Program and the Amazon EU Associates Programme, which are affiliate advertising programs designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.

As an Amazon Associate we earn from qualifying purchases.