Please use our links: LEGO.com • Amazon
Brickset.com is a participant in the Amazon Services LLC Associates Program, the Amazon.com.ca, Inc. Associates Program and the Amazon EU Associates Programme, which are affiliate advertising programs designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.
As an Amazon Associate we earn from qualifying purchases.
OK. Put a Wall-E on bricklink for $1m and see what happens to the average price of sold sets over the next month.
This isn't some opinion based thing - more resellers will drive competition. If you had one reseller of (Lets say Jabbas Sail Barge) they would charge the absolute highest price possible. More sellers gives consumers more options - and seeing as there's no price fixing/collusion among so many sellers (which could also only happen with a few sellers) consumers overall prices are driven down.
Shall I draw a graph?
I thought maybe it would be like Beetlejuice
Back to reality though, I think we can all say that demand has also increased. More people are getting into LEGO than ever before. An increase in supply AND demand results in a change in the average price of item. Whether it is up, down, or stays the same depends on how much each of those shift. I think that currently both have shifted enough to increase prices. I can draw a graph if you don't know how that works ;)
Also, all of you snarky blokes are completely ignoring my statements about these newbies that are messing with the market. It happens all the time! Real estate, collectibles, bit coin, new investors mess up markets all the time. It goes beyond simple 10th grade supply and demand. And no, I'm not talking about scalpers. I'm talking about people that don't understand a particular market jumping in with both feet.
The way that you guys are acting like every market obeys supply and demand at all times makes me feel like you're messing with me. Supply and demand theory is about equilibrium price and where it ends up over time, it isn't how you describe the day to day heartbeat of the market.
Supply vs Demand...
As an example, prior to around 05/06 I could walk into most Australian retailers, pay RRP (or a little bit less) and almost always double my money selling to US based buyer. Fast forward to now and I'm extremely lucky if I can buy a set for close to US RRP.
In the context of the LEGO secondary market, it's just about as close to a free market as possible. Yes, there are people that buy or sell sets way above or way below the market price. And finding equilibrium isn't instantaneous. However, markets follow supply and demand. Everytime. All the time. For every buyer that pays too much, there is a buyer that gets a below market deal.
Now I think you're messing with me. You do realize you immediately contradicted yourself?
Nonetheless, feel free to believe what you like. I've repeatedly made and reinforced my point. A little bit of time with an Economics textbook or even Wikipedia would help.
Anyway, here's the vid - https://www.google.com/url?sa=t&source=web&rct=j&url=https://m.youtube.com/watch?v=CTlf6H5x2RE&ved=0ahUKEwjX68PEqOnYAhVIVK0KHb1KC3sQwqsBCEswCg&usg=AOvVaw0biAr-G3GPEqMybvVgTBp1
I would say that this is true about AFOL's. However, I think the people on this forum too often forget that we are a drop in the bucket compared to the rest of the market, even the aftermarket. Most people in the world are buying sets for their kids or grandkids and are not fans themselves.
I think all of us are savvy and smart. I will never pay RRP for a LEGO set. Neither will most others on this forum. But the vast majority of the world is pefectly cool with paying full price. Same thing happens on eBay, Craigslist, Bricks and Minifigures, BrickLink, etc.
I watched the video, and perhaps you don't realize that it bolsters what I've (now) repeatedly posted. The only definitive conclusion the video notes is that if you increase both supply and demand, then there is a higher equilibrium quantity.
The graphs in the video also indicate unless you know exactly how much either (or both) supply and demand increase, you cannot ascertain the resultant price. That's why you can't draw an exact conclusion to the question asked.
But thank you, nonetheless.
Perhaps I should clarify - a 'scalper' is a pejorative term for a type of seller. However, a seller - no matter the moral connotations - is only able to sell an item or product at what the market will bear.
A supply shortage or a sharp lack of demand are outside factors that certainly effect markets, but are also the factors that bring the market to equilibrium. LEGO underproduced Minecraft sets, overproduced UCS B-Wings. But for the most part people purchased both products at the equilibrium market price.
And now I'm done. I promise!
It makes the debate / argument about whether it's a Polish or French supermarket selling copies (on page 5 of this thread) seem quite on track!
Again agreed. I fall into the category who go without, and I would assume that those who actually pay over the odds aren't happy either. Their actions certainly perpetuate the practice though.
I should note that none of what I'm saying refers to aftermarket prices of retired sets. To me that's a different market, and less affected by short term manipulation.
Just keep in mind that nobody feels any sympathy for the person that buys up the tickets and then can't sell them on the street immediately before the event!
(I happen to agree with your underlying point that it is immoral or wrong to scalp/profiteer LEGO.)
Through a variety of means, LEGO (and maybe Lepin even!) have managed to significantly impact that dynamic.
I put the "Sqonyy" one in just because it amused me how they try to avoid using official names by poor spelling, and even my young son (in fact he spotted it before me) could recognise a counterfeit PS controller!
In fact this Chinese supermarket probably has every IPR infringement you could imagine and LEGO copies are just a small part of the shop! I still find it strange that some European countries seem to accept these supermarkets, like this one that has been in existence for about 5 years at least?
(In case you are wondering, no I didn't buy anything!)
The LEGO copies ranged from £5 for the Angry Birds to £25 for the Frozen Palace, so you can see the attraction for parents. In Poland, the prices were cheap by Polish standards as they were easily half (or more) what you might pay for the genuine article.
Some of the reputable Polish shops selling genuine LEGO sets are charging similar prices to what you would pay in the UK, making them out of reach of many, as in most countries where parents do not have as much disposable income as they would wish.
The Chinese definitely enjoy perogies. Dyngus Day is huge in Guangzhou.
It is clearly 2:42pm EST, and I have lost my marbles.
So yes, my Polish wife has suggested there are plenty of Polish shops in China!
And now back onto the topic of Chinese Counterfeit LEGO..... :)
I'm not, however, going to pay ridiculous inflated prices from the "secondary market" for Lego-produced items.
They're children's toys. I buy them for my child to play with.