You probably played with Lego as a kid, but today these plastic bricks have actually become a viable investment strategy for toy collectors who are seeing a decent return on investment.
So how do you make money out of Lego? Keep reading to find out more.
Lego was created by a Danish company who began manufacturing the interlocking plastic bricks in 1949. Today it is considered the world’s most powerful brand and a pop culture icon. There are Lego-themed movies, toys, video games, and even Lego amusement parks around the world. Since it was first invented, hundreds of different varieties of Lego bricks have been produced and the brand’s long history, plus it’s consistent release of new themes, are why it attracts people to build large collections. Rare Lego sets, if still sealed and in good condition, can fetch thousands of dollars on the online market.
How to start collecting
Before you start collecting Lego blocks for your own personal collection it’s a good idea to research the history of the company. Think about the Lego theme or themes you want to concentrate on collecting and find out where you can purchase them for an affordable price.
EBay, Amazon and Bricklink are the best places to start buying and selling your Lego collection. There are many popular collectible themes such as Star Wars, Pirates of the Caribbean and Toy Story but there are lots of others; Lego trains, vikings, castles, dinosaurs, space, robots and more. New sets and themes are also being released all the time and can be bought direct from Lego.com.
Exclusive and special edition Lego sets and minifigs (minifigures) that are no longer being manufactured are very desirable so if you can buy these before they are retired then you’ll do well when selling. But as with any kind of collectibles there are no guarantees of profit.
Key tips for investing in Lego
- The biggest profits in Lego come from purchasing wisely and holding onto limited sets or minifigs until the price rises. If Lego has stopped manufacturing the set generally you should wait least a year before selling to make a profit.
- Check the bricklink price guide for items that could be a good investment, this shows what the item was worth six months ago and what it is currently selling for.
- Selling minifigs is easier than selling a whole set as they appeal to a wider audience, and people often need pieces to make up a full collection. Choose ones that you think will sell well by using the price guide to gauge interest.
- Be patient when selling, your items may not sell straight away unless they are very rare. In general eBay will sell the fastest but give you the lowest price, Amazon will take longer but give you a higher price, and Bricklink will vary.
Disclaimer: Financial Mappers does not have an Australian Financial Services License, does not offer financial planning advice and does not recommend financial products.