I would love to get some feedback from those of you who are parents and also invest in Lego products.

My son, who is 5, is Lego-obsessed. He got his first set a little more than a year ago and he has a ton more now, mostly polybags, minifigs and smaller City, Creator, Lego Movie, and Star Wars sets under $50 RRP. He is now asking for larger, more expensive sets and I want to start stocking up for Christmas.

My question is, do you apply the same criteria towards buying for your kids - clearance deals, TRUTH/TRU coupons, using VIP points, etc. - as you do for investing? Or do you just say, I'm going to get them what they want and not worry as much about getting the lowest price, and save my coupon opportunities and points for resale sets only? I am just trying to decide whether to pull the trigger on some stuff he wants this summer, or hold off until the fall (hoping for sales/clearance) and take the chance that they might disappear (Lego Movie and Star Wars).

Personally, I try to buy him sets that are on sale.  My son Max is 5.5 years old and is very smart and creative.  That being said, he is also very destructive and completed LEGO sets do not last long in my house.  He loves Hero Factory, Bionicle, STAR WARS and Chima sets, but especially the action figure like Hero Factory and Bionicle.  Every kid is different and if your son is the type that takes care of his toys, then buy him the large sets.  Mad Max on the other hand gets sets that can be ripped apart and put back together like some messed up Toy Story character.  I won't waste my money on large sets.  Those are for Daddy.  LOL

I make the kids wait for sales or a deal.  Occasionally, especially at LEGO Store, I'll buy something under $50 or up to the promo level for him and I.

I have a Max, too, and we used to have a lot of fun with Hero Factory mash-ups. He's nearly 10 now and spends more time with Minecraft (the digital version). 

I love buying discount Lego for my kids--and for my own builds. When it comes to Christmas shopping, do yourself a favor and buy popular sets early, noting a five-year-old's wants will probably change between now and Christmas. 

My son just turned 7, and I asked myself this question a while ago. At first, I answered it "Coupons, points and discounts are for investing... I want maximum returns on my investments. Toys for my kid will just cost what they cost."  But then I realized... that's not smart.  We're paying taxes on our profits, so really the smart move is to take those VIP points, and discounts for your family (tax free windfall). So... hypothetical... if you want to buy 2 identical sets - 1 for your son, and 1 as an investment - and you only have 1 coupon for 25% off... you use it to buy the one for your son... pay "full price" for your investment to have maximum cost, minimum taxable profit.

Like biking_tiger said...  Kids' "wants" change rapidly.  My son will talk all summer and fall about getting sets "A, B and C" for Christmas.  I'll keep my eyes open, pick them up here and there when I can find a great deal... then December 15th or so... he scrap that list, and issue new "demands", and I end up scrambling to find those most sought after sets, right before Christmas... and then need to sell those others I bought him!  Now... when considering set "A, B or C" I always keep in my mind that I need to get it for a good price, because I may have to sell it.

I'll give my son whatever doesn't sell. Capitalism, it's the American way.

My son is not very destructive, but he does occasionally mash up his sets to create bigger things. Overall, he is pretty good about bagging all the pieces and the instruction booklet and putting them in the correct storage drawer. So I don't mind trying a larger set. He wants an AT-AT, Mos Eisley Cantina and Benny's Spaceship, among other things. 

I appreciate the insight. This is all new to me (parenting a five-year-old boy, Lego building, Lego investing), so I love hearing from people with more experience!!

My son receives monetary gifts from his parents, grandparents, aunts, uncles, etc.  

When he wants a Lego set that is in current production, I would suggest that he waits until there are reasonable discounts.  Alternatively, if I have this currently in-production set in my inventory, he could have it at my average cost.

If he is interested in a retired set and if I have it in my inventory, he could buy it from my inventory at a 25-50% discount to the Brickpicker price

Edited June 26, 201510 yr by cambridge02138

I let them shop at my store with whatever discounts I got

My son receives monetary gifts from his parents, grandparents, aunts, uncles, etc.  

When he wants a Lego set that is in current production, I would suggest that he waits until there are reasonable discounts.  Alternatively, if I have this currently in-production set in my inventory, he could have it at my average cost.

If he is interested in a retired set and if I have it in my inventory, he could buy it from my inventory at a 25-50% discount to the Brickpicker price

Will you adopt me?

My nephew's and niece are LEGO spoiled.  I buy them way too many sets.  I buy them the sets I want to play with...:)

My son receives monetary gifts from his parents, grandparents, aunts, uncles, etc.  

When he wants a Lego set that is in current production, I would suggest that he waits until there are reasonable discounts.  Alternatively, if I have this currently in-production set in my inventory, he could have it at my average cost.

If he is interested in a retired set and if I have it in my inventory, he could buy it from my inventory at a 25-50% discount to the Brickpicker price

If I was your kid I'd be flipping your inventory

You'd wake up with nothing but Lone Ranger and Chima

My 5 year old gets smaller sets. She's smashed every set that she put together and only tends to want to play with the minifigures. So, I am contemplating just going that route for the majority of her LEGO purchases for now. Oh yeah, and Mixels. I just got my 3 year old a Phantom, and only gave her the Chopper and Ezra Minifigures as well as 2 Minifigure books for her birthday.

If I was your kid I'd be flipping your inventory

You'd wake up with nothing but Lone Ranger and Chima

 You have a good point.  However, as a condition of his purchase, he has to open and build the sets.  BTW, the only Lone Ranger set I have is Constitution Train, and I don't have any Chima or Ninjago sets in my inventory.

As an incentive for him to save and make his own spending decisions, I also offer him a 5% annual interest on his cash as well as opportunity to invest along with me in the stock market.  He has several shares of Apple, Disney, and 1 share of IBB.  He is also aware that he will have to pay tax on dividends as well as capital gains (if any) when he sells.  Although he doesn't own these shares in his name (since these shares are in my name), we keep track of them and deduct any taxes from his cash account

 

 

 

I'll give my son whatever doesn't sell. Capitalism, it's the American way.

"Awe.... dad!...Chima again?!!"

IMO there are two major gift giving "times" for a parent. Birthdays and Christmas. The first is the easy one as the wants and desires are pretty steady in the "what are they into" category.

Christmas is a whole different beast altogether. Kids are flooded with toy ideas, new sets, new theme releases etc etc. This might explain why the kids change their minds till the last minute.

That being said, I typically shop for deals all year and have a stash on hand that is the "for the kids" pile. It sits next to my investment pile and both are under lock and key. I pull from this pile for birthdays if needed for my boys and other kids. Nothing like being the parent that gave one of my kids classmates their first lego set. ;-)

Christmas is a last minute full price deal. For instance my youngest got the Chima Mamoth set and my oldest the SW pod racer set. It's ok to spend msrp on a LEGO set every once in a while and Christmas is the time to do it.

Are you saying people actually buy Lego for their kids?!?!?!

My girls are 7,6, and 3.  They aren't really that into Lego, nowhere near like their dad anyway  
Sure they have a few sets, mainly Friends. But a new set gets built once then chucked in the box with the rest and that gets played with only once a week or so.

Discounts, coupons and sales.  That is the way to go.   HE has his eye on the Helicarrier and that is  of a concern as I have none and I don't anticipating getting a good deal.  This is the first time he focused on a big exclusive and really wants it.  Mind you he is thirteen so this isn't a shock that it happen.  But my normally approach is a big set at 50% - For his last birthday he got Jabba's Sail Barge and it cost me $63.  So it is hard making the jump to a $350 set.    IF his grades suck - it will be harder to make the jump (and if I do make it the wife is going to KIIIILLLLLLLL ME!!!!!)  DEAD

I think trying to get your child interested in looking for deals with you can give the both of you an activity to share well as give him a better understanding about money and general deal searching like how spending less on one item can go towards another and so on. There will always be that one set he desires however never sees the clearance rack but such could also be part of the learning experience for him too. In any case whether be personal or business, it's just a good idea to go for the sales.