LUGNET News : ~330/FAQ/Market/auction


Cary Clark / FAQ / Market / auction

Should I trade, sell or hold an auction?

From Todd Lehman: !

An auction is a lot of work. It is rewarding, but sometimes there are better ways to get rid of something, for example if you are lucky you may be able to do a simple LEGO®-LEGO® trade with someone. But finding a good equal LEGO®-LEGO® trade is not always an easy thing -- most of the time you will end up doing an unbalanced LEGO®-LEGO® trade padded out with cash (either direction) and this is a great way to test the waters.

Think carefully about what you’re considering selling. If it’s something you still play with or is nostalgic, you should probably hang on to it. Otherwise, what good is it to you? Put it up for adoption to the highest bidder and reinvest that money into something more to your liking.

If the reason you’re hanging on to it is for the neat pieces, look around at sets currently in stores -- maybe newer sets have those pieces too. Think opportunistically. Also think how wonderful it will make a collector feel to acquire a missing set.

Watch out for other enterprising folks. If you price your opening bids too low and there is little demand, someone with better marketeering skills may snatch it up and sell it a month later at a better price -- a frustrating experience, but one to grow from.

The selling price of an item is a function of its potential value and the promotional skills you use in selling it. The potential value of an item is a function of its condition, its completeness, and its demand at a given time of the year.

Primary content in this document is © Cary Clark. All other text, images, or trademarks in this document are the intellectual property of their respective owners.