Despite eBay Stake, Funko to Throw Away Excess Inventory

by: Shanna

Selling this excess inventory at secondary market stores, think TJ Maxx, Big Lots, and Ollies has two effects for manufacturers, first you don't take a 100% loss. Secondly you introduce new buyers to your products. People buy their first Funko Pop collectibles at a lower than standard retail price, then they buy more to add to their collection at retail pricing elsewhere. Open your market to new customers!

by: GetAGrip

Doesn't bother me in the least. I do that all the time with excess inventory. Two years ago we had boxes of pencils, markers, craft paper and crayons. All new but tired of looking at them Called about 5 of our local schools to see if they could use them. THERE ANSWER WAS ONLY IF YOU WILL DELIVER THEM. I told them honey i'm 81 years old I will carry them to the end of the driveway for the trash truck. I will never donate anything to anyone for any reason. People are so used to having the hands out and someone putting something in them they have gone beyond being lazy. You go FUNKO its easier to toss the crap and take a write off then to have to listen to people who always want more.

by: iheartjacksparrow

I sell Funko Pops, ship them to me! There are so many places that are already selling Funko items that I'm sure they would love to pay pennies on the dollar to put them in their stores for a reduced price. Hot Topic, Boxlunch, Entertainment Earth, Toy Whiz, 707 Street, heck the list goes on and on. Please Funko, don't put them in a land fill, get them to places where people can buy and enjoy them. I'm sure there are lots of homeless shelters which would love to have them to pass out to kids.

by: COVID-19

The arrogance of Funko. Who do they think they are, Gucci, Cartier and Louis Vuitton? Get over yourself, Funko.

by: ebayout

Is there a diff in the tax deduction if they're trashed or donated?

by: Rexford

"NPR said Funko will destroy inventory valued at over $30 million by dumping it into a landfill - this despite the fact eBay is Funko's preferred secondary marketplace".

Shame on this company. Not only is it environmentally unfriendly, they could donate the inventory to  children's charities.  Every Christmas I volunteer for Empty Stocking Fund, packing stockings for children who would likely get nothing for Christmas otherwise. I applaud those companies that give, but it makes me really sad seeing how little the children will actually get.

I think Funko needs to hire a Chief Sustainability Officer pronto and think of a better way to get rid of the unused inventory.

by: HappyOne

Want to make a bet? Company employees, transport employees and landfill employees have all rented storage units or cleaned out their garages to make room for cases of Funko that fall off truck on way to final landfill resting place.

by: terry55

@ebayout
according to my accountant, not sure about large corps. but being a small LLC, self employed, I barely get to write off anything if I donate(personal taxes) but can if I throw in the trash(self employment tax). So, I throw excess in a clean trash can at the boy scouts(fishing gear).

by: Bill

Happy one:

You are spot on.

by: jewelryartist2009

Trash it all. Excess product brings values down. Freeloaders can suck it. It isn't your inventory.  

by: pace306

Funko did it to themselves - and "it couldnt happen to better people".

1 of 250 my "you know what"

As a FORMER dealer (Im still a dealer I just dont buy anything from them) - the ENTIRE POP idea is/was a scam.

I got into it early (since I was already a dealer) with their Japanese vinyl (Hikari) items (before the smaller pops came out).

The printed amounts "1 of 500" were such BS and like POPS - they are/were EVERYWHERE. They soon became worthless - like POPS.

POPS are Funko's NFT if you will. ANY valuation(s) on any of them are all made up by people "in the know" - who DONT KNOW.

Funko churns out as many as they can until the mold breaks and sits on them (thats why theres SO MUCH excess inventory). "1 of 750" for 6 months and then they SLOWLY release them into the market.)

Theres SO MANY worthless ones - that as this article said - they are basically plastic trash.

The average smaller pops all cost $6 as a dealer - ANY valuation above that is what they market "says it will bear", but its not based on any kind of reality.

Those of us who are abit older have seen this before - Atari's ET for the 2600 - thousands dumped in a landfill back int he 80s!

by: epuise

" i'm 81 years old... I will never donate anything to anyone for any reason. People are so used to having the hands out and someone putting something in them they have gone beyond being lazy... listen to people who always want more."
WOW... just... WOW...
An 81 yr old who has stuff they DON'T NEED, to use, or SELL (to cover Rx, etc.), would rather FILL LANDFILLS than DONATE???
Well... I'm an elderly widow w/ no family, whose illnesses & deaths caused ME to have NO MONEY (despite working, still, 7 days a week)... who HAD to go to a FOOD BANK for cans of veggies & pasta for a month, while my LAST family member required round the clock care... This CHARITY also LET ME BORROW a WALKER, a SHOWER CHAIR & POTTY... SOMEBODY donated them... My Dad used, went to Heaven, I cleaned, returned them.
I donate ALL THE TIME. I carry & lift & schlep ANYTHING that I think ANYBODY can use. I have arthritis & health issues, but, others have it worse.
I do not worry if a few don't really 'need'.
There are too many who DO.
VETERANS... who come home BROKEN.
WIDOWS... who nobody remembers were THERE for THEM.
SINGLE MOMS... it's not the CHILD'S fault Daddy disappeared
CANCER, SERIOUS ILLNESS PATIENTS... too much ISN'T 'covered'.
IMMIGRANTS... LURED HERE by people who USE them to landscape their lawn, CLEAN their homes, COOK their food...
Funny... how CORPORATE Welfare is OK...
Not SOCIAL Welfare?
LUCKY YOU... 81 yr. old w/. savings/pension... who is retired, or, not 'in need'.
I will, like my Daddy, work 70 hour weeks till I die.
Yet, I STILL donate.
A local Mission, if a man needs a used BIKE, so, (he says), he can get a JOB... The Pastor REQUIRES the man WORK hours at the Mission FOR the bike.
Lucky 81 yr old... YOU have NO CLUE what the REAL WORLD is.
The tree-lined path to your Trash Pail hides it.
FUNKO is ONLYH interested in HOLDING their PRICE POINT.
"Toys For Tots" - Ugh! - Guess those MARINES are being fooled, gathering toys for needy Children each Christmas.
"St. Jude Children's Hospital" - Oh, well, I guess the parents of the Cancer Kids need to buckle up & buy their OWN toys for the (maybe) child's final years.
DISGUSTING.
I'm sorry I read this.
I will SHARE this FUNKO story...
The YOUNG, who BUY (or did buy) Funko... are RECYCLERS.
Unlike some, THEY want to protect OUR PLANET from WASTE.

by: Rexford

epuise, thank you.  The selfishness of people these days.  And they appear to be proud of it...vocalizing it and somehow wearing their selfishness as a badge of honor.  Should anything catastrophic ever happen to these people that cause them to lose everything I sure hope that they get the help that they are unwilling to give.

by: epuise

@Rexford...
As with 'The Covid Money'... these people who decry 'takers' are the first on line 'to get what I earned'... Only THEY "work"... Even if they take up space in an Office Chair... THEY work... Everybody else is "a taker"... People who HAVE are 'smart', hard working... People who don't' are stupid, lazy...
So many who post this way are Beneficiaries of Inheritance, or, Pension Plans long gone that we can only dream of. Now, you work 30, 40, 50 years for a job, you can't 'retire'. You're lucky you can still start work PT at Walmart to make ends meet 'in your golden years'
When somebody posts "that" way, the too bad for them way, you KNOW this:
Life was FAIR to them. They had OPPORTUNITIES.
Things worked out. Nobody got real sick for real long.
They were Blessed.

by: BargainzBabylon

@getagrip - I pity you.  

by: pace306

You go FUNKO its easier to toss the crap and take a write off

SADLY, out tax laws allow for people to just "write off" these kinds of losses instead of making them responsible.

They "cant" sell them off (though they should), since whats left of the POP market would collapse.

But dont cry for them - they also own Loungefly - which does VERY well.

by: rosyprover

RE: @getagrip
Wow, imagine living a whole 81 years only to demonstrate your inability to empathize. What a waste, not to mention the Funko’s.

by: NYSteve

@Happy One  that is the logical explanation

@ebay out- not really, they can deduct the same cost as a loss in inventory
           as donated inventory- with some nuance.
          but, wait, they'd rather throw their (shit?) out than sell it dirt cheap
           to their loyal customers.....sorry am i spelling this right?
          c.. o..r..p..orate....g..r..e..e..d

by: I Must be Crazy

@Get a Grip

You mean you wouldn't have a friend or a neighbor that could help you deliver those items to a school?  Maybe you don't...

My wife teaches 2nd grade.  I buy storage units and I give her anything and everything that she or one of her coworkers can use.  I cannot tell you how much those teachers appreciate supplies, educational aids and the like. Especially in the community where she teaches; free lunches for all of the kids. For many of them it is their best meal of the day.  Given that people of a certain political lean want to pay nothing in taxes and strip our schools of much needed funding, teachers and students can use all of the resources we can spare.  I will leave it there.

Funko management was careless and mismanaged inventory.  They were riding a wave of bubblesque speculation for their products and it popped.

by: iheartjacksparrow

@Pace: I think the Loungefly bubble might burst soon. They release so many mini backpacks every week, plus pins, wallets, and lanyards. I've started thinking about selling off some of my older backpacks because I'm running out of room to store them.