The Art of Making Money off of Old LEGOs

in LEGO5 months ago (edited)

I'm sure almost everyone around the world is familiar with the wonderful toys known as LEGOs. They are a great toy that almost all kids love. I had them as a child and so did my son. They have moved beyond children's sets now and make sets for adults that are replicas of expensive cars, buildings, ships, and they ae very detailed. Some of those sets retail for hundreds of dollars!

I also remember hating LEGOs as a parent as eventually, without fail, you end on stepping on a piece that somehow got left on the floor. Usually in the middle of the night of course, those things can hurt!

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This particular LEGO made of 14 carat gold can make you some serious money if you can find one. I shared this in a previous post, but these go for about $20K. They were gifts to employees at the LEGO corporation for those who had completed 25 years with the company between 1979 and 1981. Talk about a nice bonus! Now if you happen to come across one of these cheap at a thrift store buy it as quickly and quietly as possible... If only I were so lucky...

When I have spare time I like to go the thrift stores like Goodwill or other private ones around town. Sometimes you can find silver items being sold cheaply because the employee failed to recognize it as a precious metal. More often than not I end up buying some old LEGOs betting that some I will be able to resell for a profit. Sets are always a gamble because parts are invariably missing that you end up replacing. Mini-figures are usually a safer bet because there is a huge market for them by collectors.

These are some I picked up recently for a few dollars, each worth more than I paid for the lot at the store so it wasn't a bad deal.

These two were part of an advent collection, here you have Santa Claus Yoda and a snow loving R2 D2. When I sell things I eBay I tend to use the Lego plates as a background. They don't work well with Yoda since he's a shade of green. Each one of these easily sells for more the $10 a piece so it more than made up for the investment right there alone!

And what's Star Wars without Darth Vader? Another nice find from Goodwill!

And a small set I found of a Star Wars AT-AT, it looked complete when I got it but it was missing a couple pieces that I already had thank goodness!

And a few random ones as well, this guy is the swordsman from Raiders of the Lost Ark, the first in the Indiana Jones trilogy.

Dobby from Harry Potter, although he's kind of ugly.... But he came with a sock, printed on a tile. lol I didn't take a picture of it though!

And from Lord of the Rings Gandalf the Gray

And last but not least, Batman!

All said and done I can probably get around $10 or more on each, so it was a nice buy. The AT-AT set I might get $20 if I'm lucky. But what kills you one eBay are the the fees. Many times it eats up 25 to 33% of your profits. If we had the buyer base here on Hive it would be fun to have a LEGO store, but I doubt there is nearly enough demand!

So not a bad trip to Goodwill this last time! Next time you are at the thrift store don't forget to look at the toys because many can be very valuable, especially the LEGOs! Mini-figures are usually safe bets as long as you don't see cracks on them or they are missing hands.

That will do it for the post today. If you have any questions or comments please feel free to leave them below. As always thank you again for all of your support, it's made the last year and a half here on Hive a lot of fun!

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I think @enforcer48 was collecting silver tetris , maybe he would like some gold legos too hehe. That is interesting

At 20K I seriously doubt it!
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 5 months ago Reveal Comment

Nice idea of Lego Business
It is always good to start somewhere, long live the activities
Regards

There are lots of ways to make money... Creativity can make a huge business, just look at Amazon. Bezos just wanted to make an online book store when he started!

Oh man, my kids love Legos. My 5 year old loves building sets and often builds them on his own including one that says 14+ he will build solo and maybe ask for help once or twice. I don't think I'll be selling any for profit anytime soon but so know you can!

That's how I got started, old sets my son no longer wanted. Old discontinued sets can get really expensive, just one recommendation though, make sure to keep the box, it increases resale value!
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I'll have to look into it! Honestly I can see my kid turning into a lifetime collector. It just fits his personality perfectly.

Some people collect and never let things go, it's good trait I've collected silver coins for years, something I picked up from my dad!

Awesome! I also picked up collecting from my Dad. Although, it was fossils of anything that is found on hikes and trips!

What do they call a cubic zirconia in Ireland?
A sham-rock.

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 5 months ago Reveal Comment

Those are pretty awesome. I don't think I have any of the character ones like that. I just have the old school space and castle ones. Oh, some of the city ones too.

Star Wars items always sell really well as do any from big name movies. Even some of the castle sets can be valuable these days!

I was just talking to my brother in law about this tonight. He has a huge Lego collection. I have an old Jango Fett Technics set somewhere. I need to figure out what happened to it.

Being Star Wars related it will probably sell well!

Arghhh...LEGOs were the devil when my kids were little. I don't know how many times I would step on those darn things. I do wish we had some of the sets I bought for them now though.

Those things are painful to step on... I'm glad we didn't give them away to a thrift store now!

I love LEGO. I used to play with it a lot when I was a kid and now my kids do. I wish I could get my hands on this 14 carat gem. I wouldn't sell it though.

I would love to have the gold one too! it's great that your kids like LEGO too. If you ever think of reselling them though keep the boxes, they have value by themselves believe or not!
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I haven't much luck on my latest Thrift store crawl on lego.

It's hit and miss with a lot of stores. The big ones usually have a lot of toys I've found, smaller one are luck of the draw. Too bad you haven't had much luck!

I wonder how many of the Lego company employees kept their gold Lego?😇
I’m sure they’re definitely kicking themselves if they sold back then!☺️

I would think some might have sold it when they needed some cash at some point. Who knows? You don't see them come up for sale very often though!

Very true, my friend actually, this is the first I’ve ever seen one……
I would’ve loved to picked one up when the price was low back in the day !😇

That's sweet! Is there a used lego store near you? Maybe you could get more value selling to them?

The dedicated LEGO sites you can get the cheapest prices as a buyer, like brickowl or bricklink. eBay usually gets you the most money out of them. A lot of collectors don't use the dedicated sites because they don't know they exist!

Would be nice to be Richie Rich and play with a bunch of gold Legos 😂 !DOOK !LOL !ALIVE

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