The Price You Pay

[LEGO Guy Bri]

Yes that's crazy. If they have a lot of money then fine, but if they don't, they seriously need a shrink.

On the other hand... It might be a case of fake transaction. Either way, someone spending such a ridiculous sum will probably feel quite stupid afterwards. On a global scale, they will reach some limit.

At some point, customers who spend a lot on an 80s MISB set will be past their nostalgia age. At that point, the sellers probably won't accept decreasing their prices out of pride, and overpriced older sets will simply remain unsold.

I suppose, I guess I forgot to mention that, Market St. started much lower. I bid on it until it passed $250, in the FIRST day (6 day run time). The seller had thousands of pos. feedback, and sold many different items (not exclusively Lego). I'd agree, fully, on that however, someone spending that much on a set obviously know what they are doing.

A couple months ago I placed a bid, not expecting to win, for $1100 for 2 SF Super Chiefs, 5 or 6 cars (one of each per set), a large oval w/ switch pts, and a few sets (train shed, crossing, etc) Had I won, I wouldn't have felt too bad. I calculated the price if I sold each set at the average they normally go for and would have still made a couple hundred in profit. It sold for a little over $1300 so I let it be. All the action happened in the last 2 minutes of auction. I really only wanted the the SF cars, as the observation cars are always sold for a ton on eBay or have an a 'Buy it Now' of $300+, anyway.

It only makes sense that a set will reach its high. That MS that sold for $730 was probably a very rare case. A pair of Cafe Corners went for a little more, and they are twice as big to start with. I think these sets (modulars) will peak at $7-800 but, average as high as $600. At least thats what they have been doing. It would be crazy if the hit $1000USD

It's packed away right now (obivously... built them last October for Christmas, and now packed away), but I'll take them out and see if I can't upload some pictures. The only really notable differences are the presents (mine are better, I think). We're talking about 10173, right? All black trucks/wheels?

I don't worry about printed instructions when you can get PDFs right from LEGO.com (10016 is there... so is 10173). It doesn't matter to me there's not set of instructions in my big box full of instructions that I've saved... they're saved on my computer.

Photos would be great if you ever get around to it! I was referring to 10173 but, the comment about the grey bogies was for:

built my own Sante Fe cars instead of paying the exorbitant prices, too.

I try not to worry about not having instructions but, I have some sort of self-diagnosed-OCD for having 100% complete sets (w/instructions) In this case $16 seems a little asinine. It's not like I need them as opposed to just wanting. I don't build, destroy, build my sets. I have enough new, by new I mean new to the collection (they are used), sets to dismantle, wash and rebuild for piece check.

[fred67]

Photos would be great if you ever get around to it! I was referring to 10173 but, the comment about the grey bogies was for:

built my own Sante Fe cars instead of paying the exorbitant prices, too.

Ooohhhhh......

Already had a couple of old images of those.... yes, I got gray; the only thing I couldn't bring myself to do was the gray roof tiles, which were like $1.50/each in quantity (and you need 32 for each car... now $2.50/each in North America as I write this).

I've built three of these so far, so I have two left. I probably have the pieces to do one entirely, but I'm still slowly collecting clear macaronis for the observation car... every so often a shop I'm buying from will have one.

I did have an alternate roof in gray:

It was one tile higher. It looked OK, but I saw the black roof pieces for cheap, and it looks good enough for me... these are the kinds of concessions when you just want a nice discontinued set, but the price is just out of whack.

Edited May 3, 2011 by fred67

[LEGO Guy Bri]

Ooohhhhh......

I did have an alternate roof in gray:

Ooohhhh indeed, those look great! Not only that but, I bet the price to build them looked good too! I hope to one day build one or two more for that train (only have one car). Great work though!

[CP5670]

At some point, customers who spend a lot on an 80s MISB set will be past their nostalgia age. At that point, the sellers probably won't accept decreasing their prices out of pride, and overpriced older sets will simply remain unsold.

This has already happened to some extent with 90s sets. Most people who wanted them have already gotten them, and the demand has fallen. Some of the flagship sets will always go for exorbitant prices, but in general the ebay prices on these sets have dropped over the last few years, and I have gotten some very good deals on MISB stuff during that time. On the other hand, the Bricklink prices have remained fairly high.

Also, I think recent sets (from the last 3 or 4 years) are appreciating much faster than the old 80s and 90s sets did. It might be a result of the much shorter production timeframes TLG has for many sets today.

[gotoAndLego]

As far as not understanding the motivation to buy sets MSIB to hang onto. Imagine cracking open the USC Falcon in 10 years to build.

Edited May 5, 2011 by gotoAndLego

[LEGO Guy Bri]

This has already happened to some extent with 90s sets. Most people who wanted them have already gotten them, and the demand has fallen. Some of the flagship sets will always go for exorbitant prices, but in general the ebay prices on these sets have dropped over the last few years, and I have gotten some very good deals on MISB stuff during that time. On the other hand, the Bricklink prices have remained fairly high.

Also, I think recent sets (from the last 3 or 4 years) are appreciating much faster than the old 80s and 90s sets did. It might be a result of the much shorter production timeframes TLG has for many sets today.

It does seem that way. I've purchased many small classic town sets for way less than original price. While looking at the feedback from a member I won from I saw that a couple months ago someone spent $1300 on a sealed Market St... And I thought $730 was ridiculous. But, yes demand has fallen on many sets. Although there are sets like the mid 80's 6391 Cargo Center still fetch a pretty penny. Sets from that era still hold there value.

I, personally don't go for MISB if I can get it cheaper opened. I don't mind cleaning/rejuvenating bricks. I have a pretty good method from various tips from other members

[kyphur]

As far as not understanding the motivation to buy sets MSIB to hang onto. Imagine cracking open the USC Falcon in 10 years to build.

I guess that would be after they finally released me from the loony bin from years of staring at that unopened box!

Nope, don't see the point of sitting on it if you have the room to build, display & enjoy it.

My Falcon has brought me a lot of enjoyment sitting in the living room and later the LEGO room fully assembled just waiting for me to touch it.

[Cwetqo]

This has already happened to some extent with 90s sets. Most people who wanted them have already gotten them, and the demand has fallen. Some of the flagship sets will always go for exorbitant prices, but in general the ebay prices on these sets have dropped over the last few years, and I have gotten some very good deals on MISB stuff during that time. On the other hand, the Bricklink prices have remained fairly high.

Also, I think recent sets (from the last 3 or 4 years) are appreciating much faster than the old 80s and 90s sets did. It might be a result of the much shorter production timeframes TLG has for many sets today.

This is also hapening with technic and even some pirates sets. Some really good sets from past few had turned people form buying older sets. There was really a lot of demand for older sets a few years ago when a lot of people had discovered E-bay and bricklink and wanted to buy all sets which they could not afford in their younger years, but now I think that they got what thea wanted and demand is not so high. When I got back to Lego a few years ago some good sets like 8448 and 8466 were going for more than 100 euro and now those same sets are going for 50 euro or even less. It's different for MISB sets, but If you want set to actually assmeble it there are a lot really good preserved used sets for much less money.

[Zeya]

When I got back to Lego a few years ago some good sets like 8448 and 8466 were going for more than 100 euro and now those same sets are going for 50 euro or even less. It's different for MISB sets, but If you want set to actually assmeble it there are a lot really good preserved used sets for much less money.

There's another factor to that, too. The economy was also doing well a few years ago, and now it's in the toilet. Certain luxury items will take a hit on the secondary (used) market. And Lego is a luxury, especially when you're talking about older sets commanding a generally higher price per element.

[CP5670]

This is also hapening with technic and even some pirates sets. Some really good sets from past few had turned people form buying older sets. There was really a lot of demand for older sets a few years ago when a lot of people had discovered E-bay and bricklink and wanted to buy all sets which they could not afford in their younger years, but now I think that they got what thea wanted and demand is not so high. When I got back to Lego a few years ago some good sets like 8448 and 8466 were going for more than 100 euro and now those same sets are going for 50 euro or even less. It's different for MISB sets, but If you want set to actually assmeble it there are a lot really good preserved used sets for much less money.

That's the thing, people today no longer "discover" ebay for the first time as they would have done 10 years ago. Bricklink prices have generally still remained high, but they aren't a good indicator of what sets are actually selling for. If you leave aside the largest flagship sets, even the MISB stuff has fallen in value. I picked up several MISB Technic sets for bargain basement prices last year (e.g. 8408 for $6, 8412 for $20 and 8850 for $30). There was one guy on ebay who sold a very large number of old MISB sets over the course of 3 or 4 years, and even some of his 80s sets were going for pretty reasonable prices.

[Cwetqo]

There's another factor to that, too. The economy was also doing well a few years ago, and now it's in the toilet. Certain luxury items will take a hit on the secondary (used) market. And Lego is a luxury, especially when you're talking about older sets commanding a generally higher price per element.

That's partially correct, but people are still buying (expensive) new sets, they just dont want old ones so much as they did a few years ago. For example: I was watching auction fo r8448 Super Street sensation end with price just 45 euro, but on the other newer version (8070 Supercar) is selling very well for 109 euro, even if its a lot smaller and simpler and it has 250 psc less.

[drdavewatford]

Near the time that the Eiffel Tower set was being retired, LEGO brand stores were offering them for around £150. I intended to visit a store to buy one, but couldn't go at the last minute. Next time I looked, they were all gone. A few months later I ended up paying £230 + shipping on eBay for a MISB one. So that's the biggest premium I've paid for a retired set I guess. At the time I was a bit frustrated, and promised myself I'd never put off buying a set at retail and end up having to pay a premium on eBay. A postscript to this story is that since then the price of this set seems to have gone through the roof; I've seen MISB examples go for well over £500, and a used set went for £409 on eBay earlier this week. Mine's still MISB, and I guess some would say it should stay that way now given the increase in price....... That's not the plan, however - I bought it to build, so providing I find the time that's what I'll do. That having been said, my build queue is running into the hundreds, so whether it actually gets built is another matter entirely.....

[LEGO Guy Bri]

Near the time that the Eiffel Tower set was being retired, LEGO brand stores were offering them for around £150. I intended to visit a store to buy one, but couldn't go at the last minute. Next time I looked, they were all gone. A few months later I ended up paying £230 + shipping on eBay for a MISB one. So that's the biggest premium I've paid for a retired set I guess. At the time I was a bit frustrated, and promised myself I'd never put off buying a set at retail and end up having to pay a premium on eBay. A postscript to this story is that since then the price of this set seems to have gone through the roof; I've seen MISB examples go for well over £500, and a used set went for £409 on eBay earlier this week. Mine's still MISB, and I guess some would say it should stay that way now given the increase in price....... That's not the plan, however - I bought it to build, so providing I find the time that's what I'll do. That having been said, my build queue is running into the hundreds, so whether it actually gets built is another matter entirely.....

I had the same problem with, well mainly 10133 BNSF but, numerous other sets when I started buying Lego again. I had kept up with products sold by TLG but, my interests where else where (buying Lego while in H. School and shortly after just didn't seem "cool"). After I found and floated around this site, my spark was restarted. I am big into trains and city and the BNSF looked so good, I had to have one. I was relatively lucky to get on for, I think $70-80 dollars, well above retail. It has always been a very popular set due to the demand by us AFOLs for it's realistic details. That set, alone, was the highest I have paid for a retailed set. Now, you'd be very lucky to grab one for under $140. It is a highly sought after set, just like retired modulars and like the Eiffel Tower you mentioned.

I recently thought to myself, the $90-150 USD modulars can reach $750-1,300 but, how would sets like the 3000+ piece Death Star or 5000+ Taj Mahal do. If there premium price where based on piece count in comparison, a set like that would, in theory, go for $2000+. This is not the case though. They seem to sell for much less. Why would a set like Market St. with 1248 pieces go for more, or similar, price as something like the Death Star with twice the piece count. Keep in mind, both are very sought after and the sets from popular themes.

Edited May 8, 2011 by Leg Godt Gud

[GRogall]

Well, if you think the price for MS is nuts, you had better not look for CC at amazon. who ever the seller is he must really think there are no parts service like Bricklink.

I knew that CC will one day fetch high prices but this is just (Wucher). I'm not sure if any one will ever pay this sum, but with the popularity that lego has reached in the last couple of years some day I'm sure the set will

exchange hands.

I'm just glad I bought a bunch of these when they where still available. and have even sold one and was able to buy 3 GE's with the cash.

[Praetorian]

I collect MISB sets and missed out on CC and MS. I paid £200 for a MISB copy of MS and £280 for a MISB copy of CC a year ago. I think this is the most I was prepared to pay for MISB copies of both sets.

The modular buildings really increase in price on the secondary market once they are discontinued. I made sure I bought two copies of GG and one copy of FB while they were still available at S@H.

I need to make sure I pick up a copy of GE and PS!

[Dazmundo]

One set that I've had my eye on is that Holiday Train (10173). I was in my dark age there too, and I love the winter (Christmas but they don't call it that) line of sets. This was sort of the first one, and I guess it sold like gangbusters. You can't even find one to buy on BL anymore. Every once in a while someone comes out of the woodwork with a boxed copy or two and sells them at exorbitant prices, no problem. (EDIT: Okay looks like there are about 12 sellers with that set right now, so maybe I"m exaggerating.) It's always very interesting to me. If I had extra money or storage space, I might try my hand at stockpiling and re-selling like that, just for kicks.

I too have been looking for the Holiday Train for the tree. I suppose I just want a train under my tree but, Lego made on so... I'd like that one I saw one on the Bay that sold for a little over $110. That is about the max I'd pay. Totally missed it Lately they are pushing $150. Not sure why so many would want to sell them now instead of shortly before the holidays. Figure they would fetch more then.

I have been keeping my eyes open for one of these too and can't believe that I just missed one on Ebay that went for £83, that is about £50 cheaper than they are going on Bricklink!

D

[Sirius Black]

I collect MISB sets and missed out on CC and MS. I paid £200 for a MISB copy of MS and £280 for a MISB copy of CC a year ago. I think this is the most I was prepared to pay for MISB copies of both sets.

The modular buildings really increase in price on the secondary market once they are discontinued. I made sure I bought two copies of GG and one copy of FB while they were still available at S@H.

I need to make sure I pick up a copy of GE and PS!

I was at the Lego store a few months ago, and remember a conversation with an employee about someone who had picked up about 25 Green Grocers the week they sold out. That's about a $3000-5000 dollar turnaround . I ended up getting 5 Fire Brigades over the May 4-5 free shipping offer, and wouldn't be suprised if a year from now, they are worth $250-300 nib. It is absolutely insane.

[legomaniac83]

This is a great topic and discussion. I came out of my "dark age" around 2001 - when eBay was just getting popular. I managed to get a lot of older 80's & 90's sets for great prices. My collection is over the 600 set mark, and at least 150 of them came from eBay. But I find now its getting tougher to buy reasonable on eBay. When I search for Lego there are way more "Buy it Nows" than regular auctions - and I am not about to pay a ridiculous price for a set produced 10 or 20 years ago. I like the auction style, but that's just me.

My uncle always told me - Be patient and you will find what you want for what you want to pay.

I tend to hardly ever spend over the price of what the set was brand new. I understand the inflation factor, and adding shipping can make some sets overpriced, some things you can't avoid. I just recently graduated college in 2009, so it's not like I have hundreds to spend on this hobby. I tend to do a lot of price guiding/checking before I buy the set I want and 9 times out of 10 get it for what I want to pay.

Being lucky is also a factor. I've been using Kijiji and craigslist for Lego classifieds and got some extremely good deals a few years ago. (5571 Black Cat truck for $100 with instructions, box and unused sticker sheet. It was 99.9% complete and well worth it, plus worth a pretty penny now. This was my holy grail and never thought I'd ever own one). I find with those sites too it is harder and harder to get good deals as sellers are listing Lego at premiums of 50-75% more! I've even posted saying beware of these ads and do research before anyone spends that much on a set you can sometimes find at a local store, or way cheaper online. Also with these sites, early bird gets the worm and by the time I see the ad, the good old cheap sets are long sold.

Maybe we're going through a cycle of older sets being higher priced, and it will circle around again to near reasonable prices. Who knows.

I just keep following my motto and so far its worked......

Edited May 10, 2011 by legomaniac83

[Legoist]

My uncle always told me - Be patient and you will find what you want for what you want to pay.

I like your uncle.

I think what saves me from spending too much on a set is also the idea that there are so many thousands of Lego sets existing, that not a single one - however cool it looks - is really necessary.

I'm a huge fan of trains and missed the BNSF and SantaFe because I was still in my dark age, and for a while I contemplated the idea of getting one for the current extortionate prices. But ultimately I don't really need it. Why should I need exactly those by the way? There is always an alternative. And as an AFOL, what I actually need is MOCing not owning a certain commercial set.

[Roodaksta]

The reason why people put them at ridiculous prices is because of Supply And Demand, a common marketing technique. The more old the set gets, the higher the price. Or because the set is to be rare. I actually don't see why the Market Street was sold at $600. It was only released in 07. But you know how some people are, putting at prices that don't even make any sense.

My uncle always told me - Be patient and you will find what you want for what you want to pay.

Very true statment, takes me about an hour or two to find a good set at a low price .

Edited May 10, 2011 by Roodaksta

[LEGO Guy Bri]

I have been keeping my eyes open for one of these too and can't believe that I just missed one on Ebay that went for £83.

Whoever won that got a very sweet deal. Thats what only 6-7 Eur ($11 USD) over RRP.

I was at the Lego store a few months ago, and remember a conversation with an employee about someone who had picked up about 25 Green Grocers the week they sold out. That's about a $3000-5000 dollar turnaround . I ended up getting 5 Fire Brigades over the May 4-5 free shipping offer, and wouldn't be suprised if a year from now, they are worth $250-300 nib. It is absolutely insane.

I actually do the same, 5 FB. This is the only way I can afford to get the new city sets and modulars on my list. I am very curious as to what the market price of 7939 Cargo Train will do when the new one comes out. I know that some sets, like the auto repair garage, are doing about the same as they did while they were available from S@H. Glad I only have 1 extra

This is a great topic and discussion. I came out of my "dark age" around 2001 - when eBay was just getting popular. I managed to get a lot of older 80's & 90's sets for great prices. My collection is over the 600 set mark, and at least 150 of them came from eBay. But I find now its getting tougher to buy reasonable on eBay. When I search for Lego there are way more "Buy it Nows" than regular auctions - and I am not about to pay a ridiculous price for a set produced 10 or 20 years ago. I like the auction style, but that's just me.

My uncle always told me - Be patient and you will find what you want for what you want to pay.

Being lucky is also a factor. I've been using Kijiji and craigslist for Lego classifieds and got some extremely good deals a few years ago. (5571 Black Cat truck for $100 with instructions, box and unused sticker sheet. It was 99.9% complete and well worth it, plus worth a pretty penny now. This was my holy grail and never thought I'd ever own one).

That is freaky, I have almost the exact same back story, except for being college grad. in 2009 and my dark age ending during that year. I too, follow your uncles advice. I have had wonderful success, or luck, of getting my hands on about 97% of the sets I missed out on either because of my "dark age" or because I hadn't been alive or into Lego at the time. Since 2009 my city collection went from around 120 sets or less to over 650 sets.

I've tried to use craigslist but, no go there. No one seems to sell much Lego where I live, unless I'm just not searching properly. I will take a look at Kijiji, though.