- When my son and I moved in last year, I asked him to pick out some old Legos to sell to save space.
- I’ve learned that eBay buyers will pay top bucks for certain miniature kits and shapes, so I started flipping them over.
- I buy it cheap and sell it high. Since February, I have earned $2,400.
At the end of 2021, my son and I had to relocate. My son is 13 and has been a Lego fanatic for years and it hurts to move the completed sets and find a place for them. When we moved to our new place, I told him to start looking for chests and finding chests he wouldn’t mind throwing away.
I quickly learned that we are sitting on a goldmine.
People will pay a fortune for the old LEGO
I’ve been an entrepreneur my whole life, and that’s the main reason I’m able to survive when I’m in between jobs or when I just need to make extra money. Since financial independence has been so valuable in my life, I wanted to pass it on to my son. While we gave some legos to charity, I thought selling them would also be a great opportunity to show my son a simple way to make money.
I’ve never sold anything on eBay, but I know people appreciate random things. I figured that if we could at least get some of the money we spent on these old kits back, that would be a good deal. First, I had him sort the groups and separate the thumbnails. Next, we needed to find out how much it was worth, so we worked together to do research and see if there were any websites that offered estimates.
One of the first minifigures we looked for was Ahsoka Tano from Star Wars. We pulled it up and saw it was about $200, I almost fell out of my seat.
My son was also shocked, and we spent the next few hours searching for all the little shapes and combinations we could. We also started watching a bunch of YouTube videos to find the best ways to properly rate skins and thumbnails.
We used several different methods. One way is to search on eBay and check how much the item has sold recently. However, using eBay is almost reliable; A much better website we found Brickeconomy.com.
I saw an opportunity to earn more
We were able to sell this Ahsoka number within a day or two for $199. Of course, I won’t get my son’s earnings, but I saw how I could make some easy money. The kit the mini figure came in was $109.99 when it came out in 2016, so I was willing to bet there were people selling vintage kits they didn’t know their value.
I started spending countless hours searching for the most valuable minifigures and LEGO sets. Lego has been around for 90 years, so you can get bogged down in a lot of research. I decided to over-focus on the Star Wars and Marvel sets because that’s what I know.
My son and I started going out on the weekends to use the toy stores here in Las Vegas to see if we could find any hidden gems. One of the used local game chains hosts events for people to sell to, so we started checking them out as well. What I quickly noticed is that these people are not stupid. They often sell minifigures and sets at or above their value. But I found a deal or two.
Unopened sets are worth a lot more, and I ended up meeting a woman who had a lot of unopened sets that she bought for her now adult sons. She was doing her research too, but she was great and started making deals with me if I was going to buy multiple sets.
I’ve had better luck on eBay finding undervalued mini kits and numbers. On eBay, you can create saved searches. I’ve found about 20-30 items and created saved searches, so I’ll receive an email if anyone sells them for less than a certain price. You set a goal of at least 50% profit, which is how you decided to set the price.
Every now and then I’d find miniature characters or sets missing a piece, so I’d go to Bricklink.com and see how much that part was. Bricklink is a marketplace where people sell individual Lego parts and kits. It also gives estimates of value, but it is not as reliable as Brickeconomy. If I can buy the missing part and still make a big profit, I will.
I made over $2000 in 6 months
Since I started this project in February, I’ve earned about $2,400 flipping Legos. I made some big mistakes early on which cost me money, but I made it all over again and more. I also still have some collections that haven’t sold, but I’ve learned that people make a lot of money in the Christmas period.
Achieving this discovery was a financial blessing. I was unexpectedly laid off in September 2021, and with no income I had to start using credit cards. I was terrified of ruining my credit score after I worked so hard to fix it.
But thanks to my Lego bustle, I was able to pay off all the debts I had accumulated between jobs. In addition, this was a great experience with my son. With the pandemic, current issues of inflation, and uncertainty about the future, I am happy to be able to teach my son that there is always a way to increase your income and become self-sufficient.