Updated: November 28, 2020
If you love toys and enjoy collecting them, then maybe you should consider making your hobby into an income opportunity. Selling toys for cash is a common way to sustain your hobby or make extra income today.
Personally, I’m a Magic: The Gathering Collectible Card Game enthusiast and have been earning good money from buying and selling these cards.
I also have a friend who’s a fan of robot action figures and he says that although his hobby is expensive, it is also self-sustaining. Because he’s able to use the profits from his trades to buy more collectibles for himself.
So if you’re interested to learn how you can make money from toys and other collectibles, then read on. And maybe this can help you get started.
The world of collectibles is primarily driven by the law of supply and demand. In a nutshell, this means:
- A common item with low demand is almost worthless.
- A common item with high demand will have good market value.
- A rare item with low demand will fetch a nice profit.
- A rare item with high demand is as good as gold (or even more).
So what are considered good collectibles?
There’s actually no sure way to tell. People collect almost anything and fans are usually willing to pay a reasonable amount just to get what they want. Check out the popular collectibles section on eBay and you’ll see a lot of odd (but rare) stuff being sold.
When it comes to toys, premium collectibles include comic books, dolls, model figures, and collectible cards. Aside from scarcity, other criteria drive the value of these items – condition.
Although thousands, even millions, of these toys, comic books, and cards have been sold worldwide, only a few of them remain intact. Toys in their original packaging bring the highest bids and cards and comic books preserved in mint condition is always precious.
How do you find these precious collectibles?
- In your house, or maybe your grandparents’ home. Just make sure you’re not taking a priceless family heirloom.
- In garage or yard sales. Remember that one man’s trash can be another man’s treasure.
- At auctions – both in real life and in websites like eBay.
Alternatively, you can also choose to invest in what’s currently in the market and wait for it to become a high-priced collectible. Here’s a couple of tips on how to spot the best items:
- Consider buying popular toys that easily gets broken or worn out. For example, the Serra Angel Magic card was fairly common and saw a lot of action during its time. A worn-out Beta Edition of this card could sell for around $10 but if you have one in mint condition, you can easily fetch around $60 for it.
- Try to avoid the limited editions. Collectors buy them instantly and you could be stuck with a rare toy with little demand in the future. Also, manufacturers use this label as a marketing ploy, so it’s best to actually know how limited the item really is.
Now that you have your collectibles, where do you sell them?
Another option is to go to a dealer. Look for a hobby or toy store in your area and offer your items to the shop owner. Alternatively, you can hang out at these places and seek out the collectors and sell them your items.
Also, watch out for toys and comic book conventions in your city. If you have enough items, you could probably set up a booth to display and sell your merchandise.
Lastly, remember that making money from collectibles requires patience and significant knowledge of your item. This means it’s always best to invest in something you truly have a passion for.
The worst-case scenario is that you won’t be able to sell them in your lifetime, so at least make sure that your collectibles can also give you inner satisfaction that’s worth more than just its market value.
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