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ShanBec

Confused New Collector

Question

I just started inventorying my legos a few months ago. One week ago, my collection showed on here to be valued approximately at $2200.00, and in the last week, I added approximately 500 new parts to my inventory and now it says $1700. How could value go down when I added to the inventory?

any info would be greatly appreciated!

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The value is determined by the for-sale prices on Bricklink, Brickowl and ebay. These are daily (I think, at least ince in a given period) calculatrded, and can fluctuate. When the average price goes down, so does your collection.

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Also only certain % of parts contains info on the price, see your "My LEGO collection", where you can see something like:

Quote

Estimated value (Based on 64.3% of the sets)

When some expensive part gets the price or that part is no longer on sale, value can fluctuate greatly.

Also note that specific part can sometimes get unrealistic value.

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9 hours ago, groowie said:

Also only certain % of parts contains info on the price, see your "My LEGO collection", where you can see something like:

When some expensive part gets the price or that part is no longer on sale, value can fluctuate greatly.

Also note that specific part can sometimes get unrealistic value.

They all got unrealistic value since most collectors doesn't keep them in "new" condition but rather "used" which is far less valuable. You will never raise that amount money if you try to sell your parts, unless you kept them in a sealed boxes and what's fun with that?

so treat it just as a fun fact.

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I also changed (just yesterday) how it calculates the average price per part/color to try and ignore the ridiculous outliers that some stores charge. That probably accounts for the relatively large drop compared to normal fluctuations.

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11 hours ago, groowie said:

Also only certain % of parts contains info on the price,

For parts, this should improve soon. I'm working on adding all missing BrickLink mappings

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It would be great if the total value was based on used prices instead of new (or if that were an option the user could control).  I have a script that will go fetch all the 6-months average used prices for my parts lists and calculate a more realistic value, but it's slow to run and i'd love for RB to do that for me.   

 

Also, well done on excluding the outliers.  I really wonder about the business model of some of those stores . . .

Edited by seejay

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4 hours ago, seejay said:

It would be great if the total value was based on used prices instead of new (or if that were an option the user could control).

The problem is what you already encountered. It's a heavy load on BL to go by all parts. The for-sale prices are easy available in a download.

4 hours ago, seejay said:

Also, well done on excluding the outliers.  I really wonder about the business model of some of those stores . . .

Some people uses their store as their collection database. Or they are hoping for someone who doesn't know how the site works.

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Doesn't make sense to run the price check for every part every day. Maybe for "new" part/color combos just added otherwise spread it out over a week for older parts/sets which are unlikely to change drastically fast. Personally I could run my RB site completely without price info, because I don't care about it. I am sure there is people who do. but if I could customize my settings to not load that info and get a faster experience that would be great, I could always turn it back on the few times I might want to see it.

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6 hours ago, TobyMac said:

The problem is what you already encountered. It's a heavy load on BL to go by all parts. The for-sale prices are easy available in a download.

Thanks for that.  It makes sense that the 6 months average prices would be just as slow for RB to pull as it is for me.  But if the RB "total value" figure could be calculated on the *used* for sale prices instead of new (or if that was an option the user could set), I think it would make that figure a more interesting for most part collectors.   

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7 hours ago, TobyMac said:

The problem is what you already encountered. It's a heavy load on BL to go by all parts. The for-sale prices are easy available in a download.

 

2 hours ago, biodreamer said:

Doesn't make sense to run the price check for every part every day. Maybe for "new" part/color combos just added otherwise spread it out over a week for older parts/sets which are unlikely to change drastically fast. Personally I could run my RB site completely without price info, because I don't care about it. I am sure there is people who do. but if I could customize my settings to not load that info and get a faster experience that would be great, I could always turn it back on the few times I might want to see it.

Actually, the prices are not downloaded in that sense. They are based on the search results that we receive for the Buy Parts/Multi-Buy pages during the last 24 hours. If a part has not been queried via that method it will not have any BL price data included in it's average calculation. At least that's for BL parts, the averages also include BO and ToyPro data which is available in full every day but there are far fewer stores for them.

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