When he was young, Matthew Fox of Black Creek imagined heB次元官网网址檇 become an engineer, which may be behind his love for working with Lego.
The 49-year-old Baptist pastor can remember the first time he opened a box containing those multi-colored piece of plastic brick.
B次元官网网址淚 saw a Space Lego kit,B次元官网网址� Fox recalls. B次元官网网址淭hat just caught my eye. I begged and begged my parents to buy it but they just couldnB次元官网网址檛 afford it. So my grandparents bought it for me. I havenB次元官网网址檛 looked back.B次元官网网址�
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Giving up the hobby in his teens, he picked up the idea of investing in Lego in his 20s. He estimates heB次元官网网址檚 been wheeling and dealing Lego kits on a regular basis for about 15 years. He shows his prized piece: A gold plated B次元官网网址淢r. GoldB次元官网网址� Lego figure, which Fox is selling for $7,000 in order to help pay for a new home for his family of nine. Lego only produced 5,000 Mr. Gold, of which Fox got his hands on a few.
B次元官网网址淚 had a hunch that these were going to be worth something,B次元官网网址� said Fox. B次元官网网址淚 bought two from Toronto, two off of eBay and just held onto them. IB次元官网网址檝e needed money over the years, as my hobby has cost a lot. So IB次元官网网址檝e sold them off. This is my last one. Building a new house, I donB次元官网网址檛 want to get rid of him but need some insulation.B次元官网网址�
The building block toy was created in 1932 by Danish carpenter Ole Kirk Christensen, and has seen significant exposure as an investment over the past decade. Anchored by secondary market from auction sites like eBay and the ongoing discontinuity of sets, some have skyrocketed in price.
For example, a kit featuring the inside of the palace of Jabba the Hutt, from the Star Wars films, sold at retail for $10 when it was released in 2003; 20 years later, itB次元官网网址檚 worth over $200, an annual value growth of nearly 13 per cent, according to website BrickEconomy.
B次元官网网址淭he biggest thing about Lego investment is the scarcity. It does not flood the market,B次元官网网址� said Luke Strauer, co-founder of Brickfact, a Lego enthusiast website. B次元官网网址淢illennials are able and willing to spend money on these nostalgic things. They get reminded of its value by having children. Unlike commodities such as gold, Lego still has a real value if you play with it or display it.B次元官网网址�
But before you go digging into your toy box to find your old Lego pieces, some business-minded individuals state that just like commodities, collectables can be a risk, albeit with a little less volatility.
B次元官网网址淭he money supply within the world has gotten larger,B次元官网网址� says Mia Maki, Associate Dean of the Peter G. Gustavson School of Business at the University of Victoria. B次元官网网址淟ego is a collectable, and if you are passionate about Lego you may or may not invest in it. But it may or may not appreciate in value, based on a multitude of factors such as whether or not investors may continue to be interested or engaged within the market.B次元官网网址�
B次元官网网址淭here are different asset classes. If you invest in stocks, then thatB次元官网网址檚 what you invest in; if you invest in bonds, you invest in bonds. If youB次元官网网址檙e investing in Lego, youB次元官网网址檙e investing in a childrenB次元官网网址檚 toy,B次元官网网址� said Maki.
That doesnB次元官网网址檛 seem to bother Fox, a father of seven, who has held onto that passion from childhood, and instilled it into his children as well.
B次元官网网址淥ne of the geniuses of Lego is that Lego IS cool,B次元官网网址� said Fox. B次元官网网址淓ach of my kids have kind of found their niche and what they like. ItB次元官网网址檚 fun and encouraging and you can get your kids off a screen and build some lego. And you can be a part of that too.B次元官网网址�
Edward Hitchins
edward.hitchins@campbellrivermirror.com
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