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Predictions on Discontinuing Sets and their Secondary Market Value

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  • theLEGOmantheLEGOman Member Posts: 1,524
    Smyths had the ssS for sale, they had stock on the shelf a few days ago.
  • Pitfall69Pitfall69 Member Posts: 11,454
    ecmo47 said:

    dougts said:

    27% off exclusives is the white whale of Brickset

    ^ Thar she blows!
    I think that was another Seinfeld reference :)

    I was wondering; those that are getting 27% off exclusives, are you paying sales tax on top of that?

  • hoyatableshoyatables Member Posts: 873
    The Michigan bottle scam, like so many plot devices on Seinfeld*, probably doesn't make much sense today. But back in the 80s and 90s, who didn't look at the top of a soda can in NY and wonder about the extra nickels that could be gained in MI ? :)

    *Just think about how many episodes would have been over in 3 minutes with smartphones - or even cellphones - today?
  • BazookaJoeX9BazookaJoeX9 Member Posts: 98
    Since it was mentioned about B&N with their coupons and membership discount...

    I have a 20% coupon. When does their site update to include new lego sets? I'm itching to buy that new X-men set.
  • Pitfall69Pitfall69 Member Posts: 11,454
    hoyatables said:

    The Michigan bottle scam, like so many plot devices on Seinfeld*, probably doesn't make much sense today. But back in the 80s and 90s, who didn't look at the top of a soda can in NY and wonder about the extra nickels that could be gained in MI ? :)

    *Just think about how many episodes would have been over in 3 minutes with smartphones - or even cellphones - today?

    I lived in New York for 18 years and have lived in Michigan since 1996. I believe that episode was while I was here in Michigan and I thought "Hmmmmm???"
  • cloaked7cloaked7 Member Posts: 1,448
    I guess I missed it. What's special about 27% off? Is there some kind of LEGO blessing included? Also, should I pass up an exclusive set if it's only 20, 24, 25 or 26% off?
  • legogregorslegogregors Member Posts: 402
    @BazookaJoeX9‌ I have not had much luck with B&N online, often the coupon will not apply and I think the membership discount does not kick in because you are getting free shipping. Please post if anything has changed.

    The 27% off statement was from another forum member who mentioned he could get that discount on exclusives(with some patience would be my best guess).
  • TheLoneTensorTheLoneTensor Member Posts: 3,937
    edited June 2014
    That's no moon, that's 27% off.
  • doriansdaddoriansdad Member Posts: 1,337
    Pitfall69 said:

    I was wondering; those that are getting 27% off exclusives, are you paying sales tax on top of that?

    No sales tax is sunny old Oregon mate :)

    We used to be able to get Target GC at 30% off until March 31st this year before the noobs ruined that deal as well (too many morons down south buying $10 GCs and redeeming for cash after small purchases).

    If I dump Lego from my operations entirely I will spill the beans on 27% off but be warned once the cat is out of the bag it will get shut down within a few weeks or less. It would be best if folks figure it out and keep it to themselves.

    Off to track down some well attired four legged friends....I hear this batch is going to be especially valuable and worthy of some serious coin :)

  • hoyatableshoyatables Member Posts: 873
    The odds of successfully navigating an asteroid field are approximately 27% to 1.
    CircleKchuckpPitfall69jasorminicoopers11
  • TheLoneTensorTheLoneTensor Member Posts: 3,937
    Luke: She's rich.
    Han: Rich?
    Luke: Rich, powerful. Listen, if you were to rescue her, the reward would be...
    Han: What?
    Luke: 27%
    Pitfall69chuckpdougtscloaked7jasorluckyrussminicoopers11
  • Pitfall69Pitfall69 Member Posts: 11,454
    edited June 2014
    @doriansdad

    It's fine. I find the 27% amusing :) Although, I'm sure it is frustrating to some who would love to know your "secret".

  • CCCCCC Member Posts: 20,526
    TheLoneTensor said:

    Luke: She's rich.
    Han: Rich?
    Luke: Rich, powerful. Listen, if you were to rescue her, the reward would be...
    Han: What?
    Luke: 27%

    Han Solo: Is that 27% in cold hard cash, or does it include benefits-in-kind?
  • Pitfall69Pitfall69 Member Posts: 11,454
    "She doesn't look like much kid, but she'll get you 27% off exclusives."
    TheLoneTensorhoyatables
  • ShibShib Member Posts: 5,469
    Supreme Chancellor: Did you ever hear the tragedy of Darth Plagueis "the wise"?
    Anakin Skywalker: No.
    Supreme Chancellor: I thought not. It's not a story the Jedi would tell you. It's a Sith legend. Darth Plagueis was a Dark Lord of the Sith, so powerful and so wise he could use the Force to influence the pricing on Lego, he had such a knowledge of the dark side that he could even get the exclusives at 27% discount


    had to join in with that one.
    TheLoneTensorMathBuildercloaked7jasorCombee
  • Pitfall69Pitfall69 Member Posts: 11,454
    Red Skelton standing by!!!

    Oops. Wrong thread :)


    Bumblepants
  • LegoFanTexasLegoFanTexas Member Posts: 8,404
    Everyone keeps talking about sales tax. If you're buying for resale you shouldn't be paying sales tax anyway. If you buy for resale then by law you have to collect sales tax at the time of sale anyway. Yes, I am aware many people don't do this and most won't ever get caught. But why not do it the right way and save all that money?
    FollowsCloselyroxioPitfall69
  • ecmo47ecmo47 Member Posts: 2,101
    I have another 20% off B&N coupon. It does say on the back not to be used for Lego Architect, R2D2, Mindstorms and DeathStar. Guess I got lucky.
  • prevereprevere Member Posts: 2,923
    LegoFanTexas said:

    Everyone keeps talking about sales tax. If you're buying for resale you shouldn't be paying sales tax anyway. If you buy for resale then by law you have to collect sales tax at the time of sale anyway. Yes, I am aware many people don't do this and most won't ever get caught. But why not do it the right way and save all that money?

    Doesn't that mean you also have to pay an inventory tax on your items?
  • bricktuarybricktuary Member Posts: 987
    You Americans and all your taxes! Was the Boston Tea Party for naught?
    FollowsCloselychuckpFarmer_Johnjasor
  • CCCCCC Member Posts: 20,526
    LegoFanTexas said:

    Everyone keeps talking about sales tax. If you're buying for resale you shouldn't be paying sales tax anyway. If you buy for resale then by law you have to collect sales tax at the time of sale anyway. Yes, I am aware many people don't do this and most won't ever get caught. But why not do it the right way and save all that money?

    Do you get tax receipts so you can claim it back? Lego don't do VAT receipts in UK/Europe, what with them selling only to consumers and not businesses.
  • graphitegraphite Member Posts: 3,275
    bricktuary said:

    You Americans and all your taxes! Was the Boston Tea Party for naught?

    That was so GB wouldn't tax us. Nothing was said about us taxing ourselves. Taxation without representation! Although nowadays our "representation" in regards to taxation is funded by the people with money which is why the rich don't get taxed as much (or they help put in the loopholes that help them avoid it).

  • BillybrownBillybrown Member Posts: 748
    CCC said:

    LegoFanTexas said:

    Everyone keeps talking about sales tax. If you're buying for resale you shouldn't be paying sales tax anyway. If you buy for resale then by law you have to collect sales tax at the time of sale anyway. Yes, I am aware many people don't do this and most won't ever get caught. But why not do it the right way and save all that money?

    Do you get tax receipts so you can claim it back? Lego don't do VAT receipts in UK/Europe, what with them selling only to consumers and not businesses.
    The way I see it (from the UK) is that Lego are VAT registered and therefore if the final amount paid with them is say £96 then this includes vat of 20%. If I was VAT registered then I could claim £16 of this back, however I would also have to add an extra 20% on top of any of listings that I resell. There is a lot more work involved, thus I stay below the threshold and pay the usual taxes.

  • Pitfall69Pitfall69 Member Posts: 11,454
    prevere said:

    LegoFanTexas said:

    Everyone keeps talking about sales tax. If you're buying for resale you shouldn't be paying sales tax anyway. If you buy for resale then by law you have to collect sales tax at the time of sale anyway. Yes, I am aware many people don't do this and most won't ever get caught. But why not do it the right way and save all that money?

    Doesn't that mean you also have to pay an inventory tax on your items?
    Not exactly. We only pay tax on goods sold, although we have to put any inventory not sold into our tax calculations. There are different ways of doing these calculations and each State has different tax rates. I'm not going to get into all of that.

    Most of us who frequent the forum know who lives in what country, so when @LegoFanTexas made his comment, I believe it was in regards to US resellers; particularly @doriansdad‌ :)

  • Pitfall69Pitfall69 Member Posts: 11,454
    graphite said:

    bricktuary said:

    You Americans and all your taxes! Was the Boston Tea Party for naught?

    That was so GB wouldn't tax us. Nothing was said about us taxing ourselves. Taxation without representation! Although nowadays our "representation" in regards to taxation is funded by the people with money which is why the rich don't get taxed as much (or they help put in the loopholes that help them avoid it).

    The taxes that were imposed on the colonies were without representation. They believed that their constitutional rights were being violated (much like many Americans complain about today) and that taxes could only be levied by the local representatives, not by Parliament.

  • Pitfall69Pitfall69 Member Posts: 11,454
    This has been discussed many times before throughout the forum. Every country seems to be different when it comes to businesses.

    What we all seem to agree on is that if you are a legitimate business, then you should be filing the correct paperwork and paying the correct taxes.

    I find these sort of discussions interesting because for the most part they are educational.
  • BrickaholicBrickaholic Member Posts: 342

    The way I see it (from the UK) is that Lego are VAT registered and therefore if the final amount paid with them is say £96 then this includes vat of 20%. If I was VAT registered then I could claim £16 of this back, however I would also have to add an extra 20% on top of any of listings that I resell. There is a lot more work involved, thus I stay below the threshold and pay the usual taxes.



    If you are VAT registered you need to show a VAT receipt with VAT charged separately to claim VAT back, along with a the companies VAT number. Obviously Lego are VAT registered but HMRC can and do insist that a valid VAT invoice has been issued in order to claim it back.
    If that happens then you would need to go to Lego and ask for a VAT invoice which they have to provide you with when requested.

    Then you enter into another situation :)

  • prevereprevere Member Posts: 2,923
    I didn't mean to keep this tax conversation rolling ... just always curious how everyone else in the States does it.
  • Pitfall69Pitfall69 Member Posts: 11,454
    prevere said:

    ... just always curious how everyone else in the States does it.

    That's a conversation for another forum ;)

    MathBuilder
  • prevereprevere Member Posts: 2,923
    edited June 2014
    Hoping that the big summer clearance will start in a few weeks or early July (Wally, Target, etc). Seems like a very weak list of sets to go after, IMHO. I start to pay attention at 50%, but in my area, 30% usually will get little Johnny's parents attention first.
  • CCCCCC Member Posts: 20,526
    ^^ The "I'm a reseller and I'd like a vat receipt" conversation? :-)
  • BrickaholicBrickaholic Member Posts: 342
    prevere said:

    I didn't mean to keep this tax conversation rolling ... just always curious how everyone else in the States does it.

    It's better than watching England try to play Football ( Soccer)

  • BumblepantsBumblepants Member Posts: 7,634
    Just a quick heads up for those looking to make a quick buck, #70105 Nest Dive is now back in stock on [email protected] US at 50% off!! Act now before it is gone again!
  • SupersympaSupersympa Member Posts: 534
    Lego does provide invoices with VAT in Europe, it is mandatory, and you can claim it back if you are registered.
  • BillybrownBillybrown Member Posts: 748
    Brickaholic said:

    The way I see it (from the UK) is that Lego are VAT registered and therefore if the final amount paid with them is say £96 then this includes vat of 20%. If I was VAT registered then I could claim £16 of this back, however I would also have to add an extra 20% on top of any of listings that I resell. There is a lot more work involved, thus I stay below the threshold and pay the usual taxes.



    If you are VAT registered you need to show a VAT receipt with VAT charged separately to claim VAT back, along with a the companies VAT number. Obviously Lego are VAT registered but HMRC can and do insist that a valid VAT invoice has been issued in order to claim it back.
    If that happens then you would need to go to Lego and ask for a VAT invoice which they have to provide you with when requested.

    Then you enter into another situation :)


    Thanks for clarifying. Too much work overall. I checked my PDF Lego receipts and they do show the VAT seperate. The only issues I get are when customers request VAT receipts having bought from me, even though I state Im not VAT registered.

  • BrickaholicBrickaholic Member Posts: 342
    Probably, but it's not mandatory in the UK for a retailer to issue a VAT invoice unless you request one. Especially if ordering online.
  • FollowsCloselyFollowsClosely Member Posts: 1,332
    Bumblepants said:

    Just a quick heads up for those looking to make a quick buck, #70105 Nest Dive is now back in stock on [email protected] US at 50% off!! Act now before it is gone again!

    Just grabbed 150 of them. I am going to make quick easy money, thanks! (Sarcasm)
    Bumblepants
  • Farmer_JohnFarmer_John Member Posts: 2,405
    So with the new Cooper set coming out, dare I suggest that the VW Bus will be gone soon? Have to admit I do like the upcoming mini-Cooper set, although it is slightly larger than the real deal.
    MathBuilder
  • pharmjodpharmjod Member Posts: 2,916
    Pitfall69 said:

    BigKid said:

    If you lived in the Midwest there was a way to get Amazon gift cards between ~20%-~40% off from a local chain store similar to Walmart.

    BigKid

    I suppose you mean Meijer. Why not just say Meijer?

    On a side note, I cannot believe I have multiple Meijer's around me and was NEVER aware of this deal. I really must be sleeping... that or the duties of life just make it tough to keep up with much of the other noise. I would have been all over these gift cards like a duck on a junebug if I'd have known then. Oh well :)
  • cloaked7cloaked7 Member Posts: 1,448
    edited June 2014
    I hope the tax talk is over. I want more 27% lines! They are hilarious! 27% may end up taking on a cult following. I mean, the possibilities are endless.

    Could become a special code word for entry into (insert own exclusive event).

    It's late at night and a guy opens a slot in the thick wooden door and speaks in a New Jersey accent - "What's da password?". You're under a light that glows dimly over the dark entrance. Wearing your black hat and heavy black coat. You slowly look right. Then, left. Finally you carefully whisper "27%". Instantly is heard the sliding of a heavy metal bar from the other side of the door. You're in!
    MathBuilderminicoopers11
  • CCCCCC Member Posts: 20,526
    cloaked7 said:

    I hope the tax talk is over.

    Not yet I'm afraid, it's only about a quarter done so far. 27% in fact.
    cloaked7bluedragon
  • NickF22NickF22 Member Posts: 488
    ^Reading that makes me want to type "GO NORTH".
  • gmpirategmpirate Member Posts: 1,654
    prevere said:

    LegoFanTexas said:

    Everyone keeps talking about sales tax. If you're buying for resale you shouldn't be paying sales tax anyway. If you buy for resale then by law you have to collect sales tax at the time of sale anyway. Yes, I am aware many people don't do this and most won't ever get caught. But why not do it the right way and save all that money?

    Doesn't that mean you also have to pay an inventory tax on your items?
    There is no tax on carrying inventory. But, you can not deduct inventory acquired as an expense until you sell it. However, any equipment you purchase to run your business is taxed -- every year. I.e. If you buy a computer and printer to use for your business, you are required to pay sales tax on it -- not refundable since you are the end user of said equipment. In addition, you are required to pay property tax on said equipment -- every year.
    Pitfall69
  • madforLEGOmadforLEGO Member Posts: 10,789
    So, then is '27' the next '42'?
    cloaked7
  • cloaked7cloaked7 Member Posts: 1,448
    edited June 2014
    Yeah, it's a well kept secret that the catch phrase in the movie Jerry Maguire was originally "Show me the 27%", but it had a huge problem. When they pitched the phrase to a focus group only LEGO nerds understood that "27%" was the quintessential definition of ultimate success. So, they went with a more generic term, 'money'. And, the rest is history.
  • cloaked7cloaked7 Member Posts: 1,448
    Another little known fact is that 50 Cent called himself 27% as a teen. (He was a huge LEGO fan.) But, the name 27% didn't garner any street cred, so he was forced to change to 50 Cent.
    CupIsHalfEmptychuckpFarmer_John
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