LEGO is the world’s largest toy company but it’s gained a reputation for being an expensive hobby. Since 2007, LEGO has released dozens of sets that cost over $300. The most expensive Star Wars sets cost $850. And prices for vintage LEGO sets can reach over $1,000.
These high prices have caught the attention of thieves — in one case, a thief stole about $300,000 worth of the plastic bricks. So how did we get here? How did LEGO go from a children’s toy to a collector’s item? And why is it so expensive?
In the very interesting video below, Business Insider looks at the history of the LEGO Group, the adult LEGO fan base and their relationship with the company, LEGO fan conventions, the LEGO resale market, and more.
- 00:00 – Intro
- 01:12 – Lego’s Rise
- 02:39 – The Lego System
- 05:39 – Lego’s Fall
- 07:39 – Adult Fans Of Lego
- 13:07 – Conventions
- 14:32 – Lego Resale Market
- 17:34 – Lego’s Rise (Again)
- 19:37 – Products For Kids And Adults
- 22:54 – Why Lego Is So Expensive
- 25:51 – Will Lego’s Success Last?
- 28:04 – Credits
What do you think? How did you like the video? Are there any interesting details that you noticed? How was your journey as an adult LEGO fan? And what do you think of the current relationship between LEGO and its fan base? Feel free to share your thoughts and discuss in the comment section below!
And you might also like to check out the following related posts:
- LEGO Film: AFOL – A Documentary
- LEGO Interview on the Collector Show
- When the Dark Ages Creeps Up On You…
- LEGO Videos: What Does LEGO Mean to You?
- LEGO Video: Notes from the LEGO Tub
- AFOLs Are Created Not Born
- What is Your Goal with LEGO?
- A Lesson in LEGO Obsession
- Building LEGO Memories…
- How Did You Discover Your LEGO Passion?
- LEGO Book for the Brick-Addicted
I didn’t watch the video, but there really is a dichotomy in the toy industry right now. Despite toys being primarily aimed at children (and the parents that buy for children), all the major toys lines (not just Lego) are clearly aware of, and catering to, the adult collector segment. You can see this in the larger/fancier, more expensive items, especially the ones found only online and of course, the convention exclusives.
I note Scott Neitlich’s long insistence on his youtube channel that the child market for toys dwarfs the adult market, but makings headline earlier this year is that apparently the adult market HAS overtaken the child market in sales.
While a market for childrens’ playthings will always exist, nobody can blame toy companies for pivoting into this new demographic (with their deeper pockets) and fulfilling the demand for “collectible”-level items at the higher pricepoints. All companies, after all, head to where the money is.
Also note this sort of thing has always existed. Coin and stamp collecting has been around for a long time and does have their very high-value items. The comic book collector’s market is more recent but still pretty old at this point, with early key issues fetching enormous prices at auction. So now, toys as well.
I would say that Lego is not inherently expensive. The small sets are still plenty affordable. Big sets do cost more, as they must. Buying ten 500 piece sets is no doubt similar in cost to one 5000 piece set. But why are so many big sets being made? Because people buy them.
You bring up a lot of good points. One thing companies need to remember that it’s the children who will come back as adults to buy collectibles. So maybe it’s not where they make the most money, but they have to hook them young.
Most kids don’t have the money to buy big sets. But they will remember longingly of their favorite sets they always wanted to buy. And when they become adult, and make decent money, they will return to buy their favorites.
And this is why I’m fairly certain that the biggest Ninjago sets are going to be released not now but 20 years from now. You guys will see…..
Yeah, when Ninjago fans grow up, get a job, and have money, or even start their own families, they will be looking for their childhood favorites. Just like older LEGO fans want Classic Space and Classic Castle. 🙂
I’m glad that they finally acknowledge their adult fans. For so long they were resisting afols.
Good video! I enjoyed it. I thought it was one of those generic Lego history videos, but it actually did a good job covering Lego’s relationship with afols. As far as the price thing, compared to other hobbies, it’s really not that expensive. Especially considering the reusability and long term value.
Let’s face it we all want to be kids. It’s a happy time and where imagination runs wild. This video was excellent. And as Yoda would say” size matter not. “As well as how many Lego sets you own. Does not define how much of a fan you are. My lego sets and builds has ( still is) a place where I can go when the things are in chaos. But,also for the building experience. I just try and appreciate the builds I have than to worry about what would be my next purchase. It becomes an expensive hobby as we all know. But, can you really put a price on reliving a childhood fantasy or imagination. My Lego collecting has slow down a little bit but I don’t think I’ll stop collecting. Maybe these are things I have to talk about with my therapist. LOL! Or I might suffer from Lego withdrawals. 😮 let the brick up rise continue.
Yeah, we all need a hobby or two for relaxation and creativity. Life is so short and LEGO is such a simple and joyful to add some color to it! 🙂
Just boycott LEGO. Easy. Period.