eBay madness

[gylman]

Check this out.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...tem=17001601423

Even if that "foolish" guy craps out, there is still a reliable bidder below him at 800.

Crazy. I was willing to pay about half that... but this is just too much.

Oh well. Maybe next year.

[Brick Miner]

wow 8-

[gylman]

wow 8-

[Hobbes]

$810?!?!?!

I haven't checked for a couple of days, the last time I did it was around $100 or so. I expected it to go higher but this is just plain ridiculous...

The username of the (current) highest bidder speaks for itself, though... *wacko*

[Sir Dillon]

Ach, that's crazy! While 6080 is my favorite set, i don't know why anyone would pay that much for it. *wacko*

[Brick Miner]

Clearly, a set that nice is very rare. Which the price makes painfully evident. Sigh. I really had my eye on that one.

i don't think its foolish at all (even though his name suggests otherwise :-D ) as glyman has said, this is an excellent copy of the set, and some might not like acknowledge it... but the condition of the box can inflat prices up to 500% or more.

similiarly, i've seen prices on wild west set 6761 MISB range from $50 to $225 (the largest price range for a wild west set that i have observed, anyway). and i don't think this huge range exists because of an unstable market. what i have seen is that things like retail price stickers, loose or detatched side flap stickers, and general box wear-and-tear drive the price up or down.

what i see in this auction is an exceptionally nice copy... possibly one of the top 10 nicest ??? who knows ??? i don't, because i don't watch the market on castle sets. but WHAT IF this is one of the top 10 most well preserved MISB copies ??? that means it is really REALLY rare, and only the few select collectors willing to pay these high prices will get to own one.

lucky fools :-D

- BrickMiner

[Hobbes]

but WHAT IF this is one of the top 10 most well preserved MISB copies ???

What if not?

[gylman]

Meh, in this price range, it is irrelevant whether you pay 10 times or 20 times the original cost for a child's toy.

Collectors pay insane money for stuff for no rational or tangible reason. That is the essence of collecting. It is inherently irrational. Trying to rationalize whether a set is worth 400 (to me, this one was) or 800 (too much for my blood) is not possible.

And if I had bought it, it would have sat on my desk. I can't sleep with it, can't bring it with me everywhere I go, and can't let my kids touch it. I would NEVER even consider opening it (I have about 3 copies of this set, but none witha box). I would show it to people, they would think I am an idiot, and then I would eventually take it off my desk and store it. Is that rational? Hell no, it's totally stupid. Like me. *sweet* *wacko*

Gyl

[Jipay]

but WHAT IF this is one of the top 10 most well preserved MISB copies ???

What if not?

It most likely is ! Maybe there are more than 10, but not that much I think. Still I don't think a toy should be MISB. Toys are ment to be played with, not to be sitting somewhere.

[Brick Miner]

but WHAT IF this is one of the top 10 most well preserved MISB copies ???

What if not?

well, like i said, i don't follow the market on castle sets, but that is nearly irrelivant...

see, before investing nearly a thousand dollars on anything, a wise one would do research on the liquidity of the item... to see where the market was at... otherwise it's an irrational decision. and that leads us to glyman's next post...

Collectors pay insane money for stuff for no rational or tangible reason. That is the essence of collecting. It is inherently irrational. Trying to rationalize whether a set is worth 400 (to me, this one was) or 800 (too much for my blood) is not possible.

And if I had bought it, it would have sat on my desk. I can't sleep with it, can't bring it with me everywhere I go, and can't let my kids touch it. I would NEVER even consider opening it (I have about 3 copies of this set, but none witha box). I would show it to people, they would think I am an idiot, and then I would eventually take it off my desk and store it. Is that rational? Hell no, it's totally stupid. Like me. *sweet* *wacko*

Gyl

collecting, irrational ?!?!? hmmm... i don't know. i think its all built into sometime called "human nature". only the best get the best... that is, the ones willing to spend the most money have the nicest things. if you choose to spend money on something you can't sleep with, play with , or even touch... its still the nicest one out there... and that (in-and-of-itself) actually makes it and even nicer find.

i mean, its like expensive precious metals... sure they look nice, but what do they actually do ??? in the case of a wedding ring... it represents something precious. but doesn't that MISB LEGO set do the same. most of us enjoy LEGOs because of what they ment to us as a child. so while an expensive wedding ring (that does nothing) represents love between two people, and expensive MISB set (that does nothing) represents the awe of childhood youth that we endour so much.

at that point, it becomes more of a socially acceptable question. while the wedding ring is justified in most cultures, the expensive childs toy is not. but in essence, they are doing the same thing.

- BrickMiner

[gylman]

Yeah, wut he sed!

(thanks BM, for convincing me that I'm not insane).

Seriously, the last time I saw a set this nice, the guy wanted 1500$ for it. I laughed at him, and he sold it to someone else. He was..... get ready for this..... from South Korea.

For all I know, the current high bidder, also from SK, is the SAME PERSON! OMG he is going to corner the world market on MISB 6080 sets!

That's it ! I have to break up this evil plot..... .<breaks piggy bank> DANG, still 500 dollars short.

[Brick Miner]

your lucky this wasn't a wild west auction that we've been talking about ;-) :-P i would have said you were making a terrible choice for your entertainment dollar !!! :-D :-D :-D ;-)

BTW, that isn't surprising about the south korea thing... most of my MISB and MIB sets that i have sold go straight to south korea. i's say about 90% of sets. i can recall at imperial flagship 6271, 2X Black Seas Barracuda 6285, and a couple sealed WW sets (6755, and 6761).

vintage LEGOs must be huge over there !!! 8-

[Jipay]

And people have money they don't know where to put. But back on your socialy acceptable collecting thing, I still don't agree, because the very nature of a toy is to be played with, while the ring is especially made to become precious.

[Brick Miner]

well, i would say the the reason the item was created it is irrelivant in this part of the discussion... more relivant is the purpose it fills now, for the purchaser, TODAY.

- BM

[natelite]

I saw you mentioned MISB and MIB, to me they have always meant the same thing. what exactly is the difference besides the addition of the word "sealed"?

[gylman]

I saw you mentioned MISB and MIB, to me they have always meant the same thing. what exactly is the difference besides the addition of the word "sealed"?

MISB is Mint in SEALED Box. Bags are closed. Stickers unapplied. Hopefully side box seals are still on, although with age the glue tends to wear off. This item has never been built.

MIB (Mint in Box) is routinely used by sellers to indicate a very good quality item which has been opened and built, but is still in excellent and complete condition. Stickers may or may not be applied.

Personally, i have not been happy about the term MIB. I too used to think it meant a totally new item, but I have found many sellers who do not agree, and as long as everyone is clear about what is being sold in the description, I guess that's OK. Frankly, sometimes a MIB box is in better condition than a sealed box that has too much shelfware.

Many sellers, however, do not distinguish, and use MIB for a sealed box too, which gets confusing. Clearly, though, if the box is sealed and bags have never been opened, assuming the boxes are equivalent, MISB is totally superior to MIB, often having double the value or more. That's why that 6080 set went for so much.

Here is a good example of MIB, assuming the inside of the box is as good as the outside, which it is (I have seen it). This is a good seller.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...em=290018132997

[gylman]

well, i would say the the reason the item was created it is irrelivant in this part of the discussion... more relivant is the purpose it fills now, for the purchaser, TODAY.

- BM

Clearly I would agree. As you said before, a man of 40, with good income and hectic life may find in these items some joy in remembering his childhood, and frankly these old sets and their boxes are like works of art.

The current Lego boxes are pathetic compared to what they used to be. No one would scoff at spending a few hundred dollars on a work of art to decorate an office. How is this different (except that it is more useful in case you get sick of the art)?

Hell, how many of you people smoke? How much do you spend on smokes in a month? I get there are a few EB regulars who might be reluctant to answer that question.

Also, regarding value..... I would argue that quality Lego sets are a better investment than diamonds or many precious metals. Investment quality depends on value and liquidity. With regard to value, the prices are steady and rising for these old sets in mint boxes. And, they have great liquidity (on eBay or bricklink). Arguably it is easier to make Lego into cash than almost any other non-bank related investment.

[Jipay]

mmhh, considering the financial difficulties of TLC, I'm not sure that the value will increase. It will likely depend on how many new hobbists there will be in the future. Not to mention the unpredictible future. Anyway, I don't smoke, and I still don't think it's a good thing to spend hundreds one single Lego a lego set (beside the ISD). Anyway, that's my advice

[gylman]

"The unpredictable future?". Is that a gray goo scenario?

[xwingyoda]

On TLC's difficult times: its their own fault !! That Cie is really badly run :-| But I digress from the topic at hand.

I really don't understand that whole discussion on the laws of the market: if someone wants to pay a huge amount of money on a rare/MISB set, whats the problem ?? Its their money, their decision. Whats wrong with that ?

How many of us overpaid a set to get it ? How many of us bought an ISD full price ? How is that different ? Apart the monetary amount, the psyche behind is exactly the same ;-)

*yoda*

[Hobbes]

I really don't understand that whole discussion on the laws of the market: if someone wants to pay a huge amount of money on a rare/MISB set, whats the problem ?? Its their money, their decision. Whats wrong with that ?

The chance of finding a set for a reasonable price shrinks. If sellers see that there are people out there paying insane prices then they will want that price for their set, too. It might take longer to sell, but eventually they'll get the price. And "we sane people" sit by and watch...

[gylman]

I really don't understand that whole discussion on the laws of the market: if someone wants to pay a huge amount of money on a rare/MISB set, whats the problem ?? Its their money, their decision. Whats wrong with that ?

The chance of finding a set for a reasonable price shrinks. If sellers see that there are people out there paying insane prices then they will want that price for their set, too. It might take longer to sell, but eventually they'll get the price. And "we sane people" sit by and watch...

Speaking of which... an opened, but VERY good condition set just went today for another insane price. I was outbid by a South Korean. Sigh.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...em=110018297402

And look at this prices for an unsealed 6073

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...em=110018297432

Sigh

[Jipay]

And look at the highest bidder... Poor you castle lovers, you'll never get any big set anymore.

[ellerb]

And look at the highest bidder... Poor you castle lovers, you'll never get any big set anymore.

The amount of castle collectors willing to pay large amounts for sets has increased tremendously in the last year. I suspect that the final bidder on this item will not pay. Only 3-4 years ago a misb 6080 and 6074 together was under $200. Paying more for a misb Kings Castle than a misb Yellow Castle does not make any sense to me. The Kings Castle had a larger production run in more countries and isnt as rare. Anything over $300 is likely paying too much. I know people who have lots of 1980's castle sets misb in their basements. The sets are out there.

Ben

[Brick Miner]

yes, but those people could never sell them. in a case like that, very few would ever enter the market place... in all reality... the price is determine by how many are entering the market, not how many are in existant.

if 500 copies exist of 6080 and 6074 each, but all the owners aren't willing to part with them, that means only a few could enter the market in a year (maybe two or three a year)... and that would drive the price up. especially if a collector has been searching for a pristine MISB (that is no flaws). an item of that rarity may only enter the market place once ever 2-3 years.

its simple as supply and demand... these sets wouldn't realize these prices if more copies enter the market. but they do, so that must mean the supply isn't there.

- BM