Is LEGO entering a Dark Age - or am I?

[AFOLguy1970]

I do not completely understand everything about how bankruptcy works, but could Lego deny any future shipments to Toys R Us based on what they owe them?  If someone owed me a lot of money, they certainly would not be getting anything more from me until the debt was paid.  Surely, Lego has a deny a sale to any particular entity.  If they did so with Toys R Us, that would be a huge blow to them.  Toys R Us is that one place you could always count on having the set if most everyone else (Lego Store and S&H included) did not have it simply because they mark everything up about 20%.  If they lost Lego as a vendor, it would put them at a very big disadvantage.  

[Faefrost]

2 hours ago, AFOLguy1970 said:

I do not completely understand everything about how bankruptcy works, but could Lego deny any future shipments to Toys R Us based on what they owe them?  If someone owed me a lot of money, they certainly would not be getting anything more from me until the debt was paid.  Surely, Lego has a deny a sale to any particular entity.  If they did so with Toys R Us, that would be a huge blow to them.  Toys R Us is that one place you could always count on having the set if most everyone else (Lego Store and S&H included) did not have it simply because they mark everything up about 20%.  If they lost Lego as a vendor, it would put them at a very big disadvantage.  

Lego and every other vendor will be denying sales or new product to Toys R Us until or unless they have ironclad agreements from the court regarding how they will be getting paid going forward. Weirdly entering Bankruptcy increases the chances that they will be able to get further financing for merchandise. The shoe is dropped. Anything going forward is protected. The real problem is payments that are already late or are coming up. Loans or credit that has already been extended. 

[Hart New Bob]

Why is everybody calling them "inspiration models"?  Aren't they called alternate builds?

Edited September 21, 2017 by Hart New Bob

[rodiziorobs]

1 hour ago, Faefrost said:

Lego and every other vendor will be denying sales or new product to Toys R Us until or unless they have ironclad agreements from the court regarding how they will be getting paid going forward. Weirdly entering Bankruptcy increases the chances that they will be able to get further financing for merchandise. The shoe is dropped. Anything going forward is protected. The real problem is payments that are already late or are coming up. Loans or credit that has already been extended. 

Read this article over at The Brick Fan for more info. Allen, who runs the site, is a TRU employee. He says that business will carry on as usual, at least in the short term. No stores shuttering their doors immediately, new product still being available, etc.

Part of the difference is that this isn't Chapter 7 (fire sale) bankruptcy, but Chapter 11, which basically allows the company to restructure and renegotiate their debt while still operating. It's obviously a lot more nuanced than that, though.

[Lyichir]

53 minutes ago, Hart New Bob said:

Why is everybody calling them "inspiration models"?  Aren't they called alternate builds?

They are technically alternate builds, but the thing is that unlike the alternate builds in, say, Creator 3-in-1 sets, or the ones from the Lego website or magazines, the alternate builds on the back of boxes were mainly intended as inspiration for the kinds of things you could build with the set rather than explicitly being intended as specific alternate models you were intended to build yourself. So inspiration models is a little more specific to their purpose and prevents confusion with the kinds of alternate builds in modern sets.

[Artanis I]

 

7 hours ago, Lyichir said:

9 hours ago, Hart New Bob said:

Why is everybody calling them "inspiration models"?  Aren't they called alternate builds?

They are technically alternate builds, but the thing is that unlike the alternate builds in, say, Creator 3-in-1 sets, or the ones from the Lego website or magazines, the alternate builds on the back of boxes were mainly intended as inspiration for the kinds of things you could build with the set rather than explicitly being intended as specific alternate models you were intended to build yourself. So inspiration models is a little more specific to their purpose and prevents confusion with the kinds of alternate builds in modern sets.

To say the same thing in different words, we would tend to use the term "alternate build" to refer to something deliberate (eg those Creator or Technic sets with additional instructions for other models), and instead the term "inspiration model" to refer to an example of something else possible (eg the photos on the back of old sets). It's just so people know which of the two you are referring to.

[Faefrost]

11 hours ago, rodiziorobs said:

Read this article over at The Brick Fan for more info. Allen, who runs the site, is a TRU employee. He says that business will carry on as usual, at least in the short term. No stores shuttering their doors immediately, new product still being available, etc.

Part of the difference is that this isn't Chapter 7 (fire sale) bankruptcy, but Chapter 11, which basically allows the company to restructure and renegotiate their debt while still operating. It's obviously a lot more nuanced than that, though.

It is much more nuanced then that. The Bankruptcy filing has probably given the larger vendors confidence that anything TRU orders for the Holiday Season is protected by the courts and will be fully paid for. But by the same token TRU is not gonna be getting good rates on it. A lot of it will depend heavily on how much exposure a given merchant has with TRU and how they think the court will treat them. Not every vendor will be treated equally by the court. Since it's chapter 11, the court will be looking to ensure a continuation of business. So some priority will be given to making the primary and mission critical vendors happy. Mattel, Hasbro, Lego, they are probably not in too bad of a place. NECA? Yeah they're gonna be boned. The big uncertainty is that almost $6 Billion of Debt isn't from business operations. When Bain Capital bought TRU on the 00's and took it private, they did so via Leveraged Buyout. Basically they put up none of their own money and instead too out a massive mortgage on the cost of buying the company. That the company is then responsible for paying back itself. (It would seem like this should be in some way illegal, but remarkably it isn't.) It all depends on how that Debt is structured. Under normal circumstances that should be the lowest priority as it is obviously a very very risky loan, as opposed to payment for merchandise. But Bain and their bankers can be tricksy hobbitses. At least as a Private Company that debt should all be to Banks and investment firms. You aren't going to hear any complaining about Pension Funds taking a hit on TRU except for their own employees. 

I don't think that Lego is at a high risk of losing their primary distribution arm. But I think they will take a fairly noticable write down for second and third quarter on bad debt to TRU. 

[rodiziorobs]

3 hours ago, Faefrost said:

It is much more nuanced then that. The Bankruptcy filing (...)

Wow, I hadn't heard all of that. Bits here and there but it makes a lot more sense now, thanks.

[Isavarg]

I started collecting Lego because of the Hobbit and Lord of the Rings themes and now because they are discontinued, I seem to have the same problem. (I'd show more interest in the Star Wars themes if there were more sets out there which were related to the Classic Era but most of the ones out now are related to the new films (which I'm not interested in) and the Classic sets which are around are too expensive, so maybe.)

I'd like there to be more fantasy/historical themed sets which aren't eye popping in their colours because these would be good additions to my Hobbit/LOTR themed sets.

But I think the main problem of why sets don't appeal to me is the small number of pieces in them and leaning towards smaller models, but the prices remaining high. I did notice in the later Hobbit sets in particular that the buildings got smaller (mainly because the pieces were smaller...), but the prices were higher. If you compare Barrel Escape to the Mirkwood and Lake Town, BOFA sets, Barrel Escape is quite a large model and wasn't that expensive, but the models in the other sets were tiny. (They were still fun to build, but they would have been better had they been bigger.)

When the Simpsons theme came out, I was excited for that as I'm a fan of them and looked forward to collecting them, but I don't understand why lego stopped releasing the buildings and figures for them. (I like the Simpsons not only because I'm a fan of the cartoon, but also because I like how the colour scheme has been incorporated - sometimes I don't like the CIty and Creator sets because the colour schemes are a bit dull, but sometimes the way the Elves and Friends sets are put together, the colours are a bit eye popping.)

There is a good range, but I'd like to see the return of the themes which I missed or enjoyed building (or if not returned, at least have something similar to them.)

[Echo]

I find it interesting that there were so few non-licensed themes released this year. I am not opposed to licensed themes at all and I know they often sell well, but the lack of focus on providing a handful of original properties seems like a missed opportunity to me. The lack of a non-licensed buildable action figure theme also seems like a pretty notable oversight. 

[Aanchir]

2 hours ago, Echo said:

I find it interesting that there were so few non-licensed themes released this year. I am not opposed to licensed themes at all and I know they often sell well, but the lack of focus on providing a handful of original properties seems like a missed opportunity to me. The lack of a non-licensed buildable action figure theme also seems like a pretty notable oversight. 

I think having two huge movie themes to focus on probably kept LEGO from having room to launch any new non-licensed themes this year. That said, they still have a dozen or so non-licensed themes, including several of their biggest themes like City, Friends, Ninjago, and Nexo Knights. So I feel like non-licensed themes are still getting a fair shake. I'm with you in hoping for a new non-licensed constraction theme in the near future! Even a constraction spin-off of an existing theme like Elves or Ninjago (sort of like the Chima buildable figures a few years back) would be a neat direction to take.

[Legogal]

Still waiting to see how the TRU bankruptcy filing affects their LEGO inventory. I was in TRU today in Cary, NC, and their inventory looked pretty much the same as before; it could be a long while before the inventory shrinks much. The supply chain has to be quite long for many sets, and this will take some time to work through the system. What I have noticed in recent months is that TRU has had fewer LEGO themes on sale. Today the only offer was a free Ninjago movie ticket with a $40. construction set purchase, whatever that means. These leveraged buyouts are a pain in the big behind and often place retailers and manufacturers in a deep black hole.

 

In Target and Walmart I am noticing much smaller inventory of LEGO. Our Walmart is down to about half of what it stocked a year ago. My advice is to go ahead and buy what you need for the holidays because it may not be in stock much longer. Keep your receipt handy for exchange if the price should fall. And remember that many stores now have time limits on returns. (About two years ago I began returning new sets that we decided not to build or were extras....before the return policies were significantly tightened up.)

Back to the original thread, as folks age, they have to think more about retirement and how they will survive. This could mean less spending on toys like LEGO because many AFOLs are not wealthy by any means. Many are just scraping buy, and may be downsizing when they lose their jobs. And they may be purchasing fewer LEGO for their children and grandkids, which could be a major blow to LEGO sales because grandparents purchase a ton of LEGO. In major US cities on either coast, real estate prices are now so high that young adults have been priced out of the market, and are not able to afford living space large enough for a huge LEGO collection. My kids don't want me giving large gifts to my only grandchild because they have a small home and no room for more toys. So I get the 5USD tiny classic sets in basic colors. Not sure they ever will have room for the many Friends' sets I hope to give my granddaughter in a few years. This has stopped most of my LEGO purchases because I have more than enough LEGO for me.

[Echo]

Basically, to answer the author's question, I don't think Lego is entering a dark age. The only real holes in the product line that jump out to me are the lack of shorter term  unlicensed action/adventure lines and the lack of a buildable action figure line, but those are not too terribly significant. I would like to know the financial success of the larger non-licensed lines that have lots of resources pumped into them like Chima, Mixels, and Nexo Knights, but I do not possess that information. If those types of lines are under-performing, then I would say there are some issues that need to be worked on, but even that circumstance wouldn't be enough on its own to cause me to declare that Lego is entering a dark age; merely that they need to make some tweaks to the formula used to create major lines like those. 

[kelceycoe]

Wouldn't that be ironic the very same thing that saved LEGO from its first near-demise (licensed sets) could actually become its demise?

In all due respect, we are definitely upon the dawn of a new era for LEGO. Obviously, licensed sets got way out of hand and now have been merged with LEGO properties (TLM, TLBMM, TLNM, Dimensions, etc). What's next for LEGO? Not to mention the quality of the bricks and pieces (LEGO Ghostbusters Ecto-1 instruction booklet; Monster Fighters glow stickers, the small gray circle pieces in the Monster Fighter sets), as well as their handling on customer relations and succumbing to politics (LEGO Friends anyone?) and the quality of the designs (LEGO Scooby Doo) or its lack of knowledge in supply and chain (Millennium Falcon 2, most early Ideas sets, and The Zombies anyone?) or its complete disregard for collectors (LEGO Scooby Doo brick figures that never became available to the public after appearing in the Mystery Campaign Builder box; Mr. Gold anyone?) or its "new agenda" to keep out AFOLs from collecting LEGO memorabilia (all this new LEGO Life crap) or requiring registration for minibuilds, etc., the list goes on. Not to mention LOSING to Mega Bloks and battling Lepin and piracy altogether, let's not forget the new China factories that I guarantee will cause controversy and more quality issues (and I bet we won't see lower prices either) added to the fact that LEGO sets are now reaching $800 with some averaging $200, and the new Toys R Us deal, yes, LEGO appears to still be struggling with brand recognition. They're producing way too much and even re-producing it (like rehashing many of their books and not always updating them) as well as the whole "so now LEGO pieces can be versatile, what works as a spike can also be the horn of an animal; a door can now be a part of the roof; a traditional car door is now toilet paper; a life float is now a toilet seat" initiative to reduce the number of pieces it produces by finding ways to reuse them.

[x105Black]

6 hours ago, Echo said:

Basically, to answer the author's question, I don't think Lego is entering a dark age. The only real holes in the product line that jump out to me are the lack of shorter term  unlicensed action/adventure lines and the lack of a buildable action figure line, but those are not too terribly significant. I would like to know the financial success of the larger non-licensed lines that have lots of resources pumped into them like Chima, Mixels, and Nexo Knights, but I do not possess that information. If those types of lines are under-performing, then I would say there are some issues that need to be worked on, but even that circumstance wouldn't be enough on its own to cause me to declare that Lego is entering a dark age; merely that they need to make some tweaks to the formula used to create major lines like those. 

Chima and Nexo Knights are the "shorter term, unlicensed action/adventure lines," whereas Ninjago is the only real "larger non-licensed line" in action / adventure.

[Aanchir]

6 hours ago, kelceycoe said:

Wouldn't that be ironic the very same thing that saved LEGO from its first near-demise (licensed sets) could actually become its demise?

In all due respect, we are definitely upon the dawn of a new era for LEGO. Obviously, licensed sets got way out of hand and now have been merged with LEGO properties (TLM, TLBMM, TLNM, Dimensions, etc). What's next for LEGO? Not to mention the quality of the bricks and pieces (LEGO Ghostbusters Ecto-1 instruction booklet; Monster Fighters glow stickers, the small gray circle pieces in the Monster Fighter sets), as well as their handling on customer relations and succumbing to politics (LEGO Friends anyone?) and the quality of the designs (LEGO Scooby Doo) or its lack of knowledge in supply and chain (Millennium Falcon 2, most early Ideas sets, and The Zombies anyone?) or its complete disregard for collectors (LEGO Scooby Doo brick figures that never became available to the public after appearing in the Mystery Campaign Builder box; Mr. Gold anyone?) or its "new agenda" to keep out AFOLs from collecting LEGO memorabilia (all this new LEGO Life crap) or requiring registration for minibuilds, etc., the list goes on. Not to mention LOSING to Mega Bloks and battling Lepin and piracy altogether, let's not forget the new China factories that I guarantee will cause controversy and more quality issues (and I bet we won't see lower prices either) added to the fact that LEGO sets are now reaching $800 with some averaging $200, and the new Toys R Us deal, yes, LEGO appears to still be struggling with brand recognition. They're producing way too much and even re-producing it (like rehashing many of their books and not always updating them) as well as the whole "so now LEGO pieces can be versatile, what works as a spike can also be the horn of an animal; a door can now be a part of the roof; a traditional car door is now toilet paper; a life float is now a toilet seat" initiative to reduce the number of pieces it produces by finding ways to reuse them.

…what the heck did I just read? I don't even know where to begin… why are you talking about five-year-old issues with Monster Fighters sets as if they're still current/relevant? How exactly is LEGO "LOSING to Mega Bloks"? What in the world is "political" about LEGO Friends? How is using life rings for toilet seats — something LEGO has been doing for over ten years, and something they've never had any other dedicated piece for — some kind of newfangled cost-cutting initiative?

[kelceycoe]

Aye, aye a quick education is in place here...

why are you talking about five-year-old issues with Monster Fighters sets as if they're still current/relevant?

Because they shouldn't had even happened 5 years ago when they even did. LEGO knew better and has been using glow-in-the-dark elements since the '90s... and guess what... Entex's Glo-Blocs way before them!

How exactly is LEGO "LOSING to Mega Bloks"?

Read here: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8003555/Lego-loses-11-year-trademark-battle.html

and http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8003555/Lego-loses-11-year-trademark-battle.html

What in the world is "political" about LEGO Friends?

https://www.theatlantic.com/entertainment/archive/2016/05/legos/484115/

https://hbr.org/2014/09/legos-girl-problem-starts-with-management

http://www.npr.org/sections/monkeysee/2013/06/28/196605763/girls-legos-are-a-hit-but-why-do-girls-need-special-legos

 

How is using life rings for toilet seats — something LEGO has been doing for over ten years, and something they've never had any other dedicated piece for — some kind of newfangled cost-cutting initiative?

You'd have to read LEGO's past annual reports and other corporate literature where they talk about this.

[Aanchir]

On 9/27/2017 at 8:23 PM, kelceycoe said:

Aye, aye a quick education is in place here...

why are you talking about five-year-old issues with Monster Fighters sets as if they're still current/relevant?

Because they shouldn't had even happened 5 years ago when they even did. LEGO knew better and has been using glow-in-the-dark elements since the '90s... and guess what... Entex's Glo-Blocs way before them!

How exactly is LEGO "LOSING to Mega Bloks"?

Read here: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8003555/Lego-loses-11-year-trademark-battle.html

and http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8003555/Lego-loses-11-year-trademark-battle.html

What in the world is "political" about LEGO Friends?

https://www.theatlantic.com/entertainment/archive/2016/05/legos/484115/

https://hbr.org/2014/09/legos-girl-problem-starts-with-management

http://www.npr.org/sections/monkeysee/2013/06/28/196605763/girls-legos-are-a-hit-but-why-do-girls-need-special-legos

 

How is using life rings for toilet seats — something LEGO has been doing for over ten years, and something they've never had any other dedicated piece for — some kind of newfangled cost-cutting initiative?

You'd have to read LEGO's past annual reports and other corporate literature where they talk about this.

• LEGO's "past annual reports and other corporate literature" where they talk about creative part uses first implemented a decade ago aren't current news, and I don't see how they have a lot of bearing on a brief sales downturn after about a decade of growth. You said we were "upon the dawn of a new era for LEGO", yet this and the Monster Fighters issues you bring up are not new, so I don't see how they can reflect any sort of era that is just dawning. It's more accurate to say that the trend towards creative part reuse reflects LEGO's era of recovery and re-commitment to the core values of their brand that began as far back as 2004.
• All the trademark case LEGO lost signifies is that they can't claim the 3D image of a classic 2x4 brick as a trademark because other companies also have 2x4 bricks. This is not a particularly major loss — arguably, it's an inevitable result of LEGO letting their patents on the basic brick expire way back in the late 80s. It also, notably, doesn't seem to have done much to bolster Mega Bloks' Construx's relative strength as a brand. LEGO still dominates the construction toys sector, to the extent that Mega has had to change the name of their LEGO-size bricks and Hasbro's upstart Kre-O brand seems to have given up the ghost. In China, where Lepin is headquartered, LEGO has been making great strides, with double-digit sales growth in the first half of this year. Arguably the whole reason copycat brands like Lepin have had such an opportunity to grow lately is that demand for LEGO in the far east is surging.
• I've read all of those LEGO Friends articles you mention — the Atlantic one is especially informative, and I refer back to it fairly often — but none of them have anything to do with the company "succumbing to politics". Just for the first time actually studying what kind of toys girls would like to play with and making those toys. Considering they never had any past products that were particularly successful at appealing to girls it's been an ongoing learning process for them, and one they've been adapting to remarkably well. The positives of what LEGO's long-overdue outreach to girls has done for them as a brand far outweigh the negatives.

Edited September 29, 2017 by Aanchir

[SuperChiefer84]

Yes I agree. I also look longingly at the store shelves for a new Lego set that interests me. What happened to the awesome separate sale train cars like the 4536 and 4537?

Classic 9V trains are one of my favorite themes along with classic lego town. I'll probably continue searching for mint sets from the 90's on ebay/bricklink instead of buying the new stuff. 

[Lordofdragonss]

What is the most dissapointing thing about new Lego? They don't try to be pionners in Toy indsustry, while they should because their system allows them a lot of flexibility. For example - their new AMAZING CREATION - Lego BOOST is once again overpriced for tech stadards it offers - like they want to get as much $$$ as they can because IT MOVES.

My main gripe is not connecting all the media they own - Nexo knight did it good - connecting game/show/toys (but I will never understand why they gave us pictures of the figs we will never have?)
They never use a full potential of Lego games - Lego Universe had no sets which could be unlocked in game, Dimension discs SHOULD HAVE worked with Lego Worlds as well with other LEGO games, there is still no Girl-themed stuff in Lego worlds, Lego Dimensions should have Unique figs from well known themes... I could talk about wasted potential in HOURS.

Edited September 29, 2017 by Lordofdragonss

[Hive]

I don't quite get why the Monster Fighters theme was so terrible.

[Vorkosigan]

These sort of threads generally make me a bit sad, but I suppose people need to let off steam from time to time. I think LEGO designs these days are top notch, and I'm glad that they are successful with female oriented themes. I do wish for some different varieties of themes, and less or different licenses, but these things are cyclic. There's rumor of Harry Potter sets next year so that's something to look forward to, and who knows what 2019 holds. Regardless I always find great sets to buy each year. 

[Criosphynx]

On 9/26/2017 at 7:37 PM, Legogal said:

Back to the original thread, as folks age, they have to think more about retirement and how they will survive. This could mean less spending on toys like LEGO because many AFOLs are not wealthy by any means. Many are just scraping buy, and may be downsizing when they lose their jobs. And they may be purchasing fewer LEGO for their children and grandkids, which could be a major blow to LEGO sales because grandparents purchase a ton of LEGO. In major US cities on either coast, real estate prices are now so high that young adults have been priced out of the market, and are not able to afford living space large enough for a huge LEGO collection. My kids don't want me giving large gifts to my only grandchild because they have a small home and no room for more toys. So I get the 5USD tiny classic sets in basic colors. Not sure they ever will have room for the many Friends' sets I hope to give my granddaughter in a few years. This has stopped most of my LEGO purchases because I have more than enough LEGO for me.

Emphasis mine

You hit the nail on the head in my opinion. I just finally got a "lego room" at 35 years old. I'm in the greater Los Angeles area and It was very hard to buy a house here, and trust me, its not big. I've been storing hundreds of pounds of lego for decades hoping for "one day" to be able to display it.  I almost sold it in my late 20s because I felt it was hopeless.

I don't buy any new sets anymore. I buy everything used,  I wait for great deals on ebay or craigslist and sell what I don't want to break even. If I can't break at least even. I can't buy it. If I did not have this system I would not have any room in the budget for lego.

 

When I see pics of "lego rooms" online or on youtube most of the time you can tell the person is wealthy. Its always been an expensive hobby but I think its getting worse. Most of the lego I buy locally come from wealthy areas on the coast, which tells me that those are the people who can primarily afford it. The only lot I got from a "normal" area the guy told me he got the lot from a nicer area...ha!

 

 

The way I see it is I'm pretty dedicated to this, and I can't really do it the "normal" way (as in buy new sets each month) so I'm not shocked at all when normal people don't.

 

Edited October 2, 2017 by Criosphynx

[Legogal]

HI! I like your approach to LEGO. It will become more common as the wealthier AFOL's age out and downsize their collections. I make it a point of selling most of my once built, rarer sets to younger folks starting their collections; these buyers cannot spend $500. or more for a new or used set, so most of mine are  priced much lower than the AZ or eBay prices and even prices on BL. One of my favorite buyers was a local pianist/piano teacher with a young son; he bought five of my built modulars to get his collection rolling. I was running out of room, and the buyer needed these sets. It was a win-win situation. 

Nice toys need to be recycled, not stored in a box somewhere for eternity. If you need to get rid of used, good condition LEGO, sell it to young collectors. It has provided value to you in the building process and looking beautiful on your shelf. Let a young collector give it the attention it needs. 

[Captain Pirate Man]

10 hours ago, Legogal said:

HI! I like your approach to LEGO. It will become more common as the wealthier AFOL's age out and downsize their collections. I make it a point of selling most of my once built, rarer sets to younger folks starting their collections; these buyers cannot spend $500. or more for a new or used set, so most of mine are  priced much lower than the AZ or eBay prices and even prices on BL. One of my favorite buyers was a local pianist/piano teacher with a young son; he bought five of my built modulars to get his collection rolling. I was running out of room, and the buyer needed these sets. It was a win-win situation. 

Nice toys need to be recycled, not stored in a box somewhere for eternity. If you need to get rid of used, good condition LEGO, sell it to young collectors. It has provided value to you in the building process and looking beautiful on your shelf. Let a young collector give it the attention it needs. 

Nice post. While I DO have a BL store, so I do like selling Lego for money. I do it to help pay for my Lego addiction, not to get rich. My personal collection is all about my display/layout. I don't like having Lego in boxes in a storage room (like you). I enjoy seeing kids (and adults) faces when they see my layout, that makes it fun for me. If I had "extra" modulars for example, I would either use them for a MOC, or like you said, sell them to someone else who will enjoy them. I recently acquired a TON of early 90s space minifigs and sets. The pieces can be used for MOC'S and what not, but most of the minifigs don't serve a purpose for me (I don't have a desire to add a space section to my layout). So I've decided to go a head and sell them to someone else who might enjoy them more. Besides, those minifigs can be turned into money, which in turn will be turned into Lego sets that I CAN  use.