Gone are the days when getting your hands on a unique Lego set and spending hours building it was just for kids. The Danish company has gone above and beyond to cater to its niche market – adults – with collectors reportedly spending their hard-earned adult money with purchases for upwards of R10 000.
However, it hasn’t been all dollar bills and smooth sailing for the toy company. While Lego may be generating a profit of more than R23 billion right now, they’ve managed to survive a near-bankruptcy, pandemic, the rise of video and mobile games and some stiff competition.
One such financial catastrophe occurred in the early 2000s, with the family behind Lego having to sell Legoland in order to stay afloat, as per Business Insider.
After an overhaul of its management structure, the elimination of unprofitable sets, and the genius idea of licensing products alongside major movie releases, Lego managed to come out on top.
Lego sets that are based on major franchises such as Harry Potter, Star Wars and a range of nostalgic vehicles, are said to be earning the company big bucks.
But for those feeling sad after spending some serious coin on their favourite Lego sets, you’ll be happy to know that they have the potential to increase in value.
Speaking to Business Insider, founder of South African Lego retailer Kiddiwinks, Bryony Poulter states that sets that contain unique pieces or characters can sometimes increase in value.
“The more uncommon a piece, the more it drives up the value. A great example is the Lego goat, which has only ever been in one set – Mill Village Raid.”
Collectors who are looking to get their hands on a second-hand goat will likely need to fork out around R1500 – a hefty price tag that’s more than the original set.
If you’re looking for a great investment option, Lego Technic are reportedly great for potential investors.
“This is because the demand for these sets usually remains for several years after they’re retired by The Lego Group, particularly given the collectability of them,” Poulter states.
Lego’s second-hand market is booming, with an increase in selling prices purely based on the availability of a retired set.
“If a set was released in limited quantities, it will have a higher resale value. Good examples of this are the Lego collectable Minifigures and Lego Super Mario Character Packs. Some series release with only one or two of a particular Minifigure or character, which immediately drives up the resell value of so-called ‘chase Minifigures’.”
While investing in Lego sets may not set us up for retirement, it sure does seem like an excellent investment option.
Picture: Instagram Lego