Subject:
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autoFAQpost /market/auction/awareness/08_how_much_money.en.faq
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Newsgroups:
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lugnet.faq
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Date:
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Mon, 12 Jul 1999 23:17:39 GMT
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Viewed:
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1241 times
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Subject: How much money can you make from an auction?
Topic-Level: 1
Content-Language: en
Topic-Level: 0
Revision: Todd Lehman, 1996-01-08
Location: /market/auction/awareness/
<P>There is no reason for there to be a limit, although there are only a finite
number of people reading the rec.toys.lego newsgroup.</P>
<P>If you're thinking of getting into speculation, make sure you understand
the LEGO<SUP><FONT SIZE="-2">®</FONT></SUP> product line and basic tenets of investment. Don't buy something
for $20 and put it in a closet for 10 years -- it'll only go up to $200 by
then, and you'll have kept it out of the hands of a deserving enthusiast for
10 years. Instead buy things that are already worth more than their sticker
price and sell them immediately so you can reinvest the money now -- buy
something today for $20 that you can sell for $40 today. If you do that
several times a year you'll have *much* more than $200 in 10 years. Comb
all the department stores and toy stores in your area -- especially Toys "R"
Us and K-Mart. Look for things 3 or more years old.</P>
<P>The best LEGO<SUP><FONT SIZE="-2">®</FONT></SUP> auctions are those that are a labor of love, and the best
auctioneers are those need the money to support their own LEGO<SUP><FONT SIZE="-2">®</FONT></SUP> habit.</P>
<P>"Drive-by auctions" occur from time to time and just don't have the same
flavor. Watch out for people you've never heard of selling large boxes of
LEGO<SUP><FONT SIZE="-2">®</FONT></SUP> pieces -- not because they're dishonest but because they seldom know what
they're doing, and if you don't ask enough questions, you may get hurt.</P>
<P>If you plan to hold a drive-by auction in rec.toys.lego, make your
intentions clear -- don't say "I've got three grocery bags full of mostly
Castle and Space pieces for sale, $200 o.b.o." and then sell it after only
three replies -- wait at least a week, and let everyone have a fair chance
to read your announcement and ask questions.</P>
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