Sorry Prashun, my comment isn't aimed at you. I over bought as well, and have been weeding down my extras. I now own a pared down set: a bevel up jointer, bu jack, a no. 4, a no. 51/2 (a gift!) a plow, a Skew rabbet, a large router plane and LVs medium router plane, and a large and medium shoulder. I could easily get by without the medium shoulder and perhaps without the medium router.
Even new, from LV, you could get off the ground with a very serviceable set of planes and saws for less than $1500. Marking tools and the like are not included in my list; you need them for any kind of woodworking.
of course i have some other planes people gave me, a coach-makers plane, a Millers falls 14 (gorgeous hunk of metal!) and a couple others. But you could easily make nice furniture without the jointer, the bu jack, the no.4 and the medium router.
as for saws, i mainly use my hybrid sash saw from bad axe, my 2 carcass saws from Lv and my LV dovetail saw. I also use my strange 4 1/2 point rip, my 8 point rip, 8 point crosscut, and 12 point crosscut. I wouldn't mind a 12point rip, and strangely don't have one amongst my huge collection of gifted saws.
So you don't need much. Even if you find the Schwarz insufferable, his "Anarchists Toolchest" is an excellent read; especially for his tool list, and the philosophy behind the choices.