When he was young, Matthew Fox of Black Creek imagined hesa国际传媒檇 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.
sa国际传媒淚 saw a Space Lego kit,sa国际传媒� Fox recalls. sa国际传媒淭hat just caught my eye. I begged and begged my parents to buy it but they just couldnsa国际传媒檛 afford it. So my grandparents bought it for me. I havensa国际传媒檛 looked back.sa国际传媒�
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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 hesa国际传媒檚 been wheeling and dealing Lego kits on a regular basis for about 15 years. He shows his prized piece: A gold plated sa国际传媒淢r. Goldsa国际传媒� 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.
sa国际传媒淚 had a hunch that these were going to be worth something,sa国际传媒� said Fox. sa国际传媒淚 bought two from Toronto, two off of eBay and just held onto them. Isa国际传媒檝e needed money over the years, as my hobby has cost a lot. So Isa国际传媒檝e sold them off. This is my last one. Building a new house, I donsa国际传媒檛 want to get rid of him but need some insulation.sa国际传媒�
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, itsa国际传媒檚 worth over $200, an annual value growth of nearly 13 per cent, according to website BrickEconomy.
sa国际传媒淭he biggest thing about Lego investment is the scarcity. It does not flood the market,sa国际传媒� said Luke Strauer, co-founder of Brickfact, a Lego enthusiast website. sa国际传媒淢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.sa国际传媒�
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.
sa国际传媒淭he money supply within the world has gotten larger,sa国际传媒� says Mia Maki, Associate Dean of the Peter G. Gustavson School of Business at the University of Victoria. sa国际传媒淟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.sa国际传媒�
sa国际传媒淭here are different asset classes. If you invest in stocks, then thatsa国际传媒檚 what you invest in; if you invest in bonds, you invest in bonds. If yousa国际传媒檙e investing in Lego, yousa国际传媒檙e investing in a childrensa国际传媒檚 toy,sa国际传媒� said Maki.
That doesnsa国际传媒檛 seem to bother Fox, a father of seven, who has held onto that passion from childhood, and instilled it into his children as well.
sa国际传媒淥ne of the geniuses of Lego is that Lego IS cool,sa国际传媒� said Fox. sa国际传媒淓ach of my kids have kind of found their niche and what they like. Itsa国际传媒檚 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.sa国际传媒�
Edward Hitchins
edward.hitchins@campbellrivermirror.com
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