Buying someone's collection

TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
edited May 2016 in Collecting
I have run across someones lifetime collection that is in my price range. From the pictures it looks like tons of legos and if I can peice together whole sets I think I could get my money back, but, it scares me. There is only one unopened set, the palace cinema.

I do have loads of spare time so that isn't an issue. So my question to those that are much more advanced than me in collecting is: What is the downside assuming the total collection exceeds the asking price.

Here are some of the photos. This isn't the whole collection. Please help I am going to look at it tomorrow. 
 when 
MattDawson
«13456

Comments

  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    I winced when I saw all those boxes stacked on top of the brand new Palace Cinema.
    BuriedinBrickskiki180703SprinkleOtterEarthlookingforsixSlapNutsDontcopythatfloppyMynattAstrobricksKerre
  • catwranglercatwrangler Northern IrelandMember Posts: 1,788
    edited May 2016
    I'd imagine it depends at least partly on your intentions for the Lego you'd be buying - are you hoping to add it to your collection for display, MOC with it, resell, or a combination of the three, depending on condition? I have to say that I'm not an expert myself, but I reckon that knowing what you're hoping for out of the deal would help other people to give you the most useful answers. I'd guess that you were hoping to sell the Palace Cinema, at least...
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    @catwrangler a mixture of the three. I would sell off the ones which do not interest me (most of the star wars sets) I would expand my collection, and my spare parts for MOC'ing, plus I do enjoy sorting legos so It looks like I would have many day/months going through the collection. I am most worried about the selling as I have never sold a Lego set, I have only traded.

    dinogirl1375
  • MattsWhatMattsWhat Studley, UKMember Posts: 1,643
    A lot depends on how much you value your time.  Sorting that is going to be hours and hours.  If you do it all and you make $500 is that a win or a loss?
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    ^^^In your scenario I would consider it a win, and if I also come out of it with $500 and some sets it would be a bonus. 
    MattDawson
  • MattsWhatMattsWhat Studley, UKMember Posts: 1,643
    Then go nuts.
    77ncaachamps
  • richoricho Member Posts: 3,821
    edited May 2016
    It's a lot of time and effort for you. I would say half the expected eBay/resell price would be fair.
  • CCCCCC UKMember Posts: 17,796
    Downsides - missing pieces and figures, time for checking inventories, cleaning, cash tied up for quite a while, selling fees, finding boxes and packaging up lots of stuff, tax, dealing with customers making out parts are missing.
    SprinkleOttersklambGalactus
  • Thecollector123Thecollector123 United States Member Posts: 67
    edited May 2016
    I have run across someones lifetime collection that is in my price range. From the pictures it looks like tons of legos and if I can peice together whole sets I think I could get my money back, but, it scares me. There is only one unopened set, the palace cinema.

    I do have loads of spare time so that isn't an issue. So my question to those that are much more advanced than me in collecting is: What is the downside assuming the total collection exceeds the asking price.

    Here are some of the photos. This isn't the whole collection. Please help I am going to look at it tomorrow. 
     when 
    You know they aren't true afols when it says "Legos" on the u haul boxes.
    AndorDontcopythatfloppyMynatt
  • DedgeckoDedgecko Seattle, WAMember Posts: 799
    I have run across someones lifetime collection that is in my price range. From the pictures it looks like tons of legos and if I can peice together whole sets I think I could get my money back, but, it scares me. There is only one unopened set, the palace cinema.

    I do have loads of spare time so that isn't an issue. So my question to those that are much more advanced than me in collecting is: What is the downside assuming the total collection exceeds the asking price.

    Here are some of the photos. This isn't the whole collection. Please help I am going to look at it tomorrow. 
     when 
    You know they aren't true afols when it says "Legos" on the u haul boxes.
    Just another victory for the spouse!  They can call them whatever they want, they are OUTTA HERE!
    legomental
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    richo said:
    It's a lot of time and effort for you. I would say half the expected eBay/resell price would be fair.
    richo said:
    It's a lot of time and effort for you. I would say half the expected eBay/resell price would be fair.
    What do you mean by half the resell price?
  • ryjayryjay Member Posts: 997
    Did I miss something?  What is the collection costing you?
  • SprinkleOtterSprinkleOtter Member Posts: 2,731
    richo said:
    It's a lot of time and effort for you. I would say half the expected eBay/resell price would be fair.
    richo said:
    It's a lot of time and effort for you. I would say half the expected eBay/resell price would be fair.
    What do you mean by half the resell price?
    Add up the value of the sets that have sole on ebay/bricklink, divide that by two or multiply it by .5, and stick to that number.

    Can I ask how much they want for the lot?
  • Jackad7Jackad7 Wisconsin Member Posts: 486

    Can I ask how much they want for the lot?
    I feel like someone just asked for the answer to a riddle we've only had a minute to solve. 
    What if threw numbers out that we think he could make back on reselling it without the influence of knowing what the person is actually asking for it.
  • CCCCCC UKMember Posts: 17,796
    ^ I wouldn't even pay that. There is a rule of thumb that you buy new stock for BL when it costs 50% of BL part out value (if parting out), or that you get sets when you think they will double in price. This is because some parts will not sell and some sets won't make it.

    That's why if some offers their BL store at 50% off current price, it is probably worse than buying new sets, as they would have sold the good stuff and are left with the stuff that doesn't sell so well.

    But if you apply that to second hand, you still need to do all the checking, cleaning, buying missing parts, etc. Of course, you know a rough value already for sets (so different to guessing prices rising in future) but you really need to be sure rare parts and minifigs are present if planning on selling as sets. 

    If you enjoy the checking inventories, then there is money to be made. But if you price in time, it's not so good.
    Daddrdavewatfordkiki180703MattsWhat
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    $2000

  • Coolguy5000Coolguy5000 Ireland Member Posts: 1,520
    To me if that was for your self I'd say take it! If for resale I'd try and get a 100 or so off the price and then negotiate to a price suited to both of you.
  • SprinkleOtterSprinkleOtter Member Posts: 2,731
    That isn't a bad deal, but I wouldn't say it is a great one. It depends on what is in all the tubs- random bricks that don't go to sets, horrible deal. Decent sets, good deal. UCS MF, best deal of the month...
    Coolguy5000kiki180703
  • SumoLegoSumoLego New YorkMember Posts: 11,919
    edited May 2016
    One has to buy at wholesale in order to make it worth their while at retail.

    45% of what you think you can get.

    (Obviously, in this case, there is a lot of speculation as to what is there and the relative re-sale.  Assuming you can offload those SW set, and the PC, there is probably $1500.00 just in those sets.  But as @CCC pointed out, the parts are a crapshoot.)

    The other factor is the potential upside of rare parts or a rare set.  I like projects, so for a few hundred bucks, I would take the risk.
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    Going to look at the collection in an hour. I am really hoping for some gems. In the ad the seller alludes to complete sets already bubble wrapped and put in boxes.....Pleeeassssssse be retired modules!
  • pharmjodpharmjod 1,170 miles to Wall Drug, USAMember Posts: 2,876
    Good luck!
  • tallblocktootallblocktoo CanadaMember Posts: 497
    I would love an opportunity to buy a large collection.  But of course as discussed there are so many variables that would influence the desirability of purchasing.  Hope it's what you are looking for and good luck!

    catwrangler
  • VenunderVenunder Nottingham, UK.Member Posts: 2,484
    One thing that should change the variables would be.
    Do you know the person selling the lego?
    If they are close friends, offer 10% less, then give them a reasonable additional payment later. if you really do find some retired modulars in the boxes.

    If you do not know the seller at all, offer 10% less and see what happens. If both parties are happy with the deal there should not be any problems later.
    You can always offer more, if you really want them to be happy.

    Good luck.
    Always remember buyer beware.
    pharmjodcatwranglerkiki180703Dontcopythatfloppy
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    I really think I scored. Just getting ready to get into two boxes that interested me. It was so much more than I anticipated dozens of large bins. 100's of sets.

    JessyDooDahcatwranglerkiki180703
  • canon03canon03 USAMember Posts: 322
    We have ourselves a winner!
  • MattDawsonMattDawson Solihull, UKMember Posts: 1,202
    @TheMaker37
    I'm envious now.
  • pharmjodpharmjod 1,170 miles to Wall Drug, USAMember Posts: 2,876
    edited May 2016
    Awesome! Congrats. I look forward to seeing what else you find.
  • thebeermonkeythebeermonkey GlasgowMember Posts: 390
    Ooft!

    He shoots!

    He scores!
  • legomentallegomental UkMember Posts: 309
    Fantastic buy well done 
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    I may be able to show my face in the brag thread now:)

    pharmjodcatwranglerYodaliciousOrmskirkBrickskiki180703Dontcopythatfloppy
  • MattsWhatMattsWhat Studley, UKMember Posts: 1,643
    Looks like the ucs at-st in the background there too. Not a bad deal so far. Can't see any star wars minifigures yet though. Fingers crossed for cloud city! 
  • William_TownsleyWilliam_Townsley Perth, Scotland Member Posts: 880
    Nice find :) 
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    I have an entire tub full of mini-figs along with others scattered about, the sellers were pretty confident that I would have most if not all of the figs.

    Does anyone know what this is?

  • catwranglercatwrangler Northern IrelandMember Posts: 1,788
    @TheMaker37 Part of set 5973, according to Bricklink - it's the only one they list as containing those round yellow tiles with the cross pattern: http://brickset.com/sets/5973-1/Hyperspeed-Pursuit
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    Thanks @catwrangler I will be on the lookout for the other half.
    catwranglerkiki180703
  • TheMaker37TheMaker37 Norfolk,VaMember Posts: 471
    Maybe you star wars fans can help identify these...can't find the directions.

  • MattDawsonMattDawson Solihull, UKMember Posts: 1,202
    Top one is #8505 from 2010 and bottom is #75041 from 2014
  • GoldchainsGoldchains Member Posts: 795
    The white ship is the Freeco Speeder #8085   The Vulture Droid is #75041 I believe.
  • MattDawsonMattDawson Solihull, UKMember Posts: 1,202
    SumoLego said:
    Not sure what that is, but if you find a modular, let us know.  (Awesome find, by the way.)
    It's #10190, Market Street, which Brickset lists as being the "second" Modular building.
  • sklambsklamb speaker of American EnglishMember Posts: 481

    I realize it's very early to suggest things like this, but if you wind up selling many potentially popular sets from this collection, would you consider doing a lottery for the opportunity to buy, along the lines of how Legopants is selling his full set of DFB minifigures?

    How the collection became available is a sad story, but congratulations on getting even more than you'd hoped for, and many thanks for your decision to spread its pleasure around to other AFOLS!

  • matticus_bricksmatticus_bricks Member Posts: 648
    SumoLego said:
    Not sure what that is, but if you find a modular, let us know.  (Awesome find, by the way.)
    It's #10190, Market Street, which Brickset lists as being the "second" Modular building.
    I believe @SumoLego was making a sarcastic reference to the debate on whether or not this set is a modular. Well done, sir. 
    Congrats on your great deal! The story of how it had to be sold is very sad indeed. 
    SumoLegokiki180703pharmjodbgl_84Pitfall69Dontcopythatfloppy
  • Jackad7Jackad7 Wisconsin Member Posts: 486
    MattsWhat said:
    Looks like the ucs at-st in the background there too. Not a bad deal so far. Can't see any star wars minifigures yet though. Fingers crossed for cloud city! 
    I think that's just the skeleton of an at-te 7675.




  • SprinkleOtterSprinkleOtter Member Posts: 2,731
    Jackad7 said:
    MattsWhat said:
    Looks like the ucs at-st in the background there too. Not a bad deal so far. Can't see any star wars minifigures yet though. Fingers crossed for cloud city! 
    I think that's just the skeleton of an at-te 7675.




    No, I have both- that's an AT-ST.
    MattsWhatkiki180703Jackad7
  • SprinkleOtterSprinkleOtter Member Posts: 2,731
    Congrats! I always love it when I get to the seller and they have more than expected.

    Too bad about how you got them, though.
  • samiam391samiam391 A Log Cabin in KY, United StatesMember Posts: 4,258
    Sad story, but from what you've posted above @TheMaker37, it does sound like the sets have landed in the best possible hands. 

    Have fun searching through all those bins! :)
  • Jackad7Jackad7 Wisconsin Member Posts: 486
    SprinkleOtter said:
    Jackad7 said:
    MattsWhat said:
    Looks like the ucs at-st in the background there too. Not a bad deal so far. Can't see any star wars minifigures yet though. Fingers crossed for cloud city! 
    I think that's just the skeleton of an at-te 7675.




    No, I have both- that's an AT-ST.
    I see now. I was lookingoing at the pictures from bin one but in the back of the picture with the modular that does look like a chicken with its head cut off.
Sign In or Register to comment.
Recent discussions Categories Privacy Policy