Aussies turning Lego, Nike, Hermes, Chanel collectables into big profits on eBay

Australians are making up to six figures selling some of the most highly sought-after goods. This is how they do it.

Aussie collectors are making as much as $100,000 per item turning their hobby into a full blown business on online.

According to the eBay State of Collectibles Report, collectors are making anywhere from $5000 to more than six figures by selling their items, including sneakers, trading cards and watches.

Up to five million Australians classify themselves as collectors, with almost half turning their passion into a healthy side-hustle, according to the first-of-its-kind data.

Gen Z and Millennials lead the charge when it comes to collecting, with more than 50 per cent of collectors surveyed aged between 18 and 34.

The hobby is most common among males, with more than one-in-three Aussie men identifying as collectors compared with one-in-five women.

LEGO sets are one of the most popular collectable items sold on eBay. Picture: AFP

Most collectors buy their items on general e-commerce websites or social media, with eBay the most popular site for deals.

The report also revealed the most popular collectable items were coins, LEGO sets, sneakers, trading cards, and luxury handbags.

Watches and luxury handbags offered the highest returns, with the average watch collection valued at $7000 and the average luxury handbag collection $6100.

But, for those playing their cards right, there’s a lot more money to be made regardless of which item you choose to collect. See how they do it.

TRADING CARDS

The owner of a Michael Jordan autographed Commemorative Card scored themselves $100,000 when it sold in NSW.

The most expensive AFL card was sold in WA to a Victorian fan for more than $21,000, while a Pokemon Booster Box sold for more than $37,000.

Grayson White turned his passion for cards from a side hustle to a successful business, after noticing a gap in the market.

He began importing cards from the USA to trade on eBay, as Cherry Collectables.

The concept was so successful, he now has stores in both Melbourne and Tasmania.

“The trading card market has exploded, and we’ve seen a lot of success in our sales on eBay with our customers looking for everything from Panini NBA cards in the $5000 to $30,000 price range to rare Pokemon singles,” Mr White said.

“Our most expensive sale was a six-figure sum.”

Grayson White runs trading card store, Cherry Collectables, in Melbourne and Tasmania.

LEGO SETS

There’s no questioning the popularity of LEGO, but it turns out some people are prepared to pay top dollar for the right set.

The most expensive collection sold was the Architecture Complete Set, which netted more than $13,000 in Victoria in 2022.

Melbourne-based Faiyaz Aslam got into LEGO collecting by chance just prior to Covid after receiving some for his birthday.

He now has thousands of boxed sets, and a solid strategy for turning his collection into cash.

“My strategy is to collect sets with really good boxes for my collection,” Mr Aslam said.

“Anything which is licensed generally will grow in value. There will always be an audience of people who are into Star Wars for example.”

Mr Aslam’s collection is valued at around $70,000, with his biggest spend around $1800.

“The LEGO community is very passionate and diverse. There are some people who save up to buy a $25 set and then there are others we know pull up in their Lamborghini to pick up their set, you get both ends of the spectrum.”

Faiyaz Aslam from Melbourne collects and sells LEGO sets for a healthy profit.

SNEAKERS

Anyone who knows a sneaker lover understands how passionate they are, but they can also make some big dollars too.

Last year, a Nike SB What The Dunk Supreme was sold for over $16,000 in South Australia, and prices are going up.

Bobby Truong, from Adelaide, has been collecting sneakers for the last 20 years, and in that time has sold enough pairs to fund his children’s education.

“I love the feeling of a new pair of sneakers when you first put them on, the freshness of each pair and the smell,” Mr Truong said.

“The resale market is huge, and is still growing exponentially – there are definitely ways to make money. Young kids have become resellers and are making a dime out of it, they’ve changed the sneaker culture.

“My collection is worth around $50,000 across 250 pairs, and I display many of these on a sneaker wall. Since I’ve been working from home the last couple of years, I set up my office in my sneaker room so I can work around my sneakers.”

Bobby Truong from Adelaide has been collecting sneakers for 20 years.

LUXURY BAGS

Luxury handbags are some of the highest valued collectables available, and prices are on the rise.

The Hermes Kelly 32cm has seen a 285 per cent price increase, from around $6700 in 2019 to $25,800 in 2022.

After struggling to find a reputable preloved Chanel handbag seller in Australia, Brisbane’s Miranda Gillespie founded Luxe.It.Fwd, a dedicated luxury resale platform offering authentic second-hand bags to locals in Australia, without the hefty import tax fees.

Testament to the popularity of preloved luxury handbags, Luxe.It.Fwd achieved a revenue of $3 million for the 2021 financial year – and more than $10 million to date.

Miranda Gillespie from Brisbane has turned over millions of dollars running her business selling preloved luxury handbags

COINS

Brisbane mum of four, Ellena Valos started collecting coins in 2022 when she was looking for the Royal Australian Mint commemorative releases for each of the years her children were born.

She started collecting soon after and quickly discovered the value they could hold.

“I only collect coins which are brand new, in mint condition and uncirculated – they are very special to me,” Ms Valos said.

“I love coins, but it was when I saw how much money you can make that I really got into it.”

Ms Valos’ focus is both collecting and investing.

“I bought three coins on eBay less than three months ago, sold them recently and made $1000 profit. The decision to sell these coins is because I’m about to buy a house and I needed some more money to put toward the purchase.”

Ellena Valos from Brisbane is helping fund her house with profits made from trading coins.

The Australian Competition and Consumer Commission (ACCC) said scam activity could occur on platform marketplaces so consumers needed to be alert.

“It’s important for consumers to verify the seller is credible before making a purchase,” an ACCC spokesperson said.

“For example, by checking online reviews on independent review websites and searching the seller’s name online.”

Consumers have all their usual consumer guarantee rights against a seller on platforms like eBay, however, these rights don’t apply where the seller is a private individual and not running a business.

“If consumers are not able to inspect a product and are not able to verify the credibility of the seller, they should reconsider their purchase,” the spokesperson said.

“Consumers should avoid any arrangement with a seller who asks for payment via money order, wire transfer, international funds transfer, pre-loaded card or electronic currency, like Bitcoin. It is rare to recover money sent this way.”

Originally published as Aussies turning Lego, Nike, Hermes, Chanel collectables into big profits on eBay