LEGO has become a massive hit with collectors and also with investors due to the value that these sets can hold. In this article we look at how to make money selling LEGO bricks.
Collecting Lego for Fun and Profit
We love to Collect and Sell LEGO. It’s been a longtime hobby that brings joy in the collecting and a bit of profit in the selling if you purchase carefully. Collecting Lego for investment can be a fun and potentially profitable hobby. Lego is a well-known and respected brand with a long history, and certain sets can appreciate in value over time.
It’s important to keep in mind that like with any investment, there is no guarantee of a return. The value of a Lego set can fluctuate. It’s important to do your own research and make informed decisions when purchasing Lego sets for investment.
Research LEGO Set Values
Websites like BrickPicker and BrickLink are great resources for researching the current market values of Lego sets. These sites provide historical data of the sets prices, and trends, as well as a list of the most expensive and valuable sets. It’s also important to keep an eye out for sales and discounts, as you can often find sets at a lower price than their market value, especially during the holiday season.
Look for Limited Runs
It’s important to focus on sets that are likely to become valuable or collectible in the future. This includes sets that are produced in limited quantities, sets that have been (or will be) discontinued, and sets based on popular franchises like Star Wars. These sets tend to have a higher demand, and therefore a higher value.
A note on piece count: Sets with more LEGO parts are more desirable to collectors. These may appreciate in value faster.
A note on popular lego sets: they are often re-printed in large quantities. Try to find the smaller runs of lego sets or kits that may not be re-printed again in the future.
Box and Set Condition
It’s also important to pay attention to the condition of the sets you’re collecting. Sets that are still in their original sealed packaging and in perfect condition will be worth more than sets that have been opened and played with. The condition of the box and the instructions, as well as the completeness of the set, all play a role in the value of the set.
Don’t Rush Your Sales
When it comes to selling your Lego sets, it’s important to be patient and not rush into a sale. It’s better to wait for the right buyer and the right price than to sell a set for less than it’s worth. One of the best ways to sell your sets is through online marketplaces like eBay and Amazon. These websites have a large audience and allow you to reach potential buyers from all over the world. When selling on these platforms, it’s important to provide detailed descriptions, high-quality photos of the sets, including close-ups of any damages or missing pieces, and be honest about the condition of the set to attract potential buyers.
Another way to sell your Lego sets is through online communities like AFOL (Adult Fan of Lego) Facebook groups, SubReddits, and online forums. These communities are often filled with Lego enthusiasts who are looking to buy and sell sets. It’s also a great way to connect with other collectors and learn more about the hobby.
Pricing Your LEGO Sets
It’s important to price Your LEGO sets competitively when selling. Research the prices of similar sets on online marketplaces and price your sets accordingly. Keep in mind that the value of a Lego set can vary depending on the condition, completeness, rarity and demand. Be willing to negotiate with potential buyers. Be open to offers and be willing to consider counteroffers, as long as they are reasonable.
Additionally, consider packaging and shipping your sets carefully to ensure they arrive in the same condition as when they were sold. You may also want to consider offering a warranty or return policy to give buyers peace of mind and make them more likely to purchase from you.
Finding Lego at a Discount
Sales: Retailers often have sales and discounts on Lego sets throughout the year, especially during holidays and clearance events. Keep an eye out for these sales and try to purchase sets during these times to get a better deal. For example, during Black Friday and Cyber Monday, many retailers offer discounts on a wide range of products, including Lego sets. Additionally, retailers often have end-of-season sales where they clear out their inventory, and you can find Lego sets at a discounted price.
Join loyalty programs: Many retailers offer loyalty programs that give members access to exclusive sales and discounts. Joining these programs can help you save money on Lego sets. For example, Lego’s VIP rewards program offers members exclusive discounts and early access to new sets.
Check for retired sets: Retired Lego sets can sometimes be found at a discount if you find them on store shelves near the end of life cycle
Visit Lego Stores: Sometimes Lego stores offer discounts and clearance sales on sets, especially older sets that they want to clear out. This can be a great way to find sets at a discounted price, and you may even be able to find sets that are no longer available online.
Follow Lego on Social Media: Lego tends to release coupons and discounts regularly on their social media platforms, so following them will help you stay informed and get discounts on your purchases. They also announce when they have sales and clearance events and you can take advantage of them.
Reddit: r/legodeals has been a wonderful resource for us to find LEGO at a discount. Happy LEGO hunting!
Selling LEGO FAQ
Is it profitable to sell LEGO?
It can be profitable to sell LEGO, depending on the source of the bricks, the prices at which they are sold, and the amount of competition in the marketplace.
Can you make a living reselling LEGO?
It is possible to make a living reselling LEGO, but it can be challenging. The key to success in any reselling business is to buy low and sell high. This is especially true for LEGO. To make a living reselling LEGO, you would need to have a steady supply of bricks at a low cost, and be able to sell them at a higher price. You also need to keep your overhead costs low.
How much is 10 pounds of LEGOs worth?
If the bricks are used and in good condition, 10 pounds of bulk LEGO bricks can be worth anywhere from $50 to $200. This is based on an average price per pound of $5 to $20. If the bricks are in new condition and includes rare and in-demand sets or minifigures, the value could be much higher. It’s important to note that individual rare or hard-to-find pieces can be worth more than the entire 10 pounds of bulk bricks.
Is investing in LEGO a good idea?
Investing in LEGO can be a good idea, but like any investment, it comes with risks and potential returns. LEGO sets and pieces can appreciate in value over time. This especially true if they are rare, hard-to-find, or limited edition. The LEGO market can be volatile and the value of sets and pieces can also decrease.
Investing in LEGO can be a good idea if you have the knowledge, resources, and patience to invest in it. Investing should be done with a long-term perspective and research of the market. It’s also worth considering other types of investments as well, as diversifying your portfolio can help mitigate the risk.
Do Legos lose value if opened?
LEGO sets can lose value if they are opened, as the value of a set is often tied to its packaging and condition. A sealed unopened set is considered more valuable than an opened set.The box and packaging can also play a role in determining the value of a set, as the condition of the box can also affect the value.
Can you make money selling LEGO on BrickLink?
It is possible to make money selling LEGO on BrickLink, an online marketplace for buying and selling LEGO bricks and sets. However, like any business, there is always a risk and it requires effort to be successful.
To make money selling on BrickLink, you need to have a steady supply of bricks and sets at a low cost, and be able to sell them at a higher price, while also keeping your overhead costs low. Additionally, you need to be knowledgeable about the LEGO market, and be able to identify in-demand sets and pieces, as well as trends and fluctuations in the market. You also need to be able to effectively market your products and stand out from the competition.
What is the profit margin on Legos?
The profit margin on LEGO sets can vary greatly. Variables include the source of the bricks, the prices at which they are sold, and the amount of competition in the marketplace. Generally speaking, the profit margin on LEGO sets can range anywhere from 10% to 50% or more.
For example, if you were to purchase a LEGO set for $50 and sell it for $70, your profit margin would be 40% ($20 profit / $50 cost). However, if you were to purchase the same set for $40 and sell it for $70, your profit margin would be 75% ($30 profit / $40 cost).
It’s also worth noting that profit margins can also be affected by the overhead costs such as shipping, packaging, and marketplaces fees. It’s important to factor in all costs and expenses before determining the profit margin.