What Is The Brick Economy?

What Is The Brick Economy? Over the past ten to fifteen years, the Lego investing phenomenon has grown into a highly collectible and lucrative hobby. The explosion in value of LEGO investments and collectibles, sets and minifigures is directly related to the popularity of secondary marketplaces such as eBay, Amazon, and professional LEGO sites such as BrickLink and Brick Set. Until the 1990s, there weren’t any major outlets where people could resell LEGO sets or minifigures.

What Is The Brick Economy?
What Is The Brick Economy?

As secondary marketplaces such as eBay grew in size and popularity, savvy collectors realized that sets could be sold for profit. Since then, coupled with a decade of exceptional profits and growth by the LEGO Group and expansion into markets in Asia and the Middle East, the LEGO aftermarket has exploded over the past decade.

The future looks very bright for collectors and investors as the LEGO Group continues to produce creative and innovative sets of the highest quality. With typical investments growing faster than even the national stock market, and year-over-year growth rates of various exclusive and limited-edition sets far exceeding double digits, investing in Lego is a very viable option.

What Is The Brick Economy?

The biggest problem facing LEGO collectors and investors is trying to accurately track the current value of any given set or minifigure. With dozens of different websites (and brick-and-mortar marketplaces) selling and reselling outdated LEGO products, it’s hard to get an accurate picture of the potential growth of a set or minifigure.

This is where Brick Economy comes in. Brick Economy is a comprehensive website dedicated to analyzing the secondary LEGO market and determining the current and expected value of sets and minifigures. Brick Economy uses a variety of techniques, notably machine learning, to dig deep into data to help investors truly understand the value of their investments. Brick Economy (“Brick” + “Economy”) is the economics of investing in Lego (building blocks)

What Is The Brick Economy?
What Is The Brick Economy?

How Does The Brick Economy Work?

Our background is in economics and complex data science in other industries, but we are Lego collectors and apply our knowledge to understand the economics behind collecting and investing in Lego. However, the bioeconomy is based on data, and there is a lot of data. We scoured dozens of online sources to continually source LEGO sets and minifigures already on the secondary and primary markets.

Prices are constantly updated, and we use proprietary algorithms and machine learning models to accurately predict current market values over time as well as expected growth. Our large datasets allow us to train various machine learning models to provide you with the most accurate and up-to-date information to better understand your current collection and make the best decisions about future investments.

Artificial Intelligence, Machine learning, Really?

Oh, yeah! Brick Economy Price Ratings and Predictions uses artificial intelligence (AI) through machine learning (ML) to provide accurate estimated and predicted prices for nearly every set and minifigure. When you look at the current value or estimated future price forecast of a group or minifigure, that data is based on our machine learning model.

What Is The Brick Economy?
What Is The Brick Economy?

Not only is it super cool, it’s very accurate! We use various algorithms to train our ML predictions, but typically rely on neural network regression and linear regression models. We are constantly retraining our various models, including suits and minifigures. Even cooler, our machine learning model can even predict future profits for newly released suits with 89% accuracy! If you’re (like us) interested in being a geek, look for that icon and click on it, and we’ll show you some ML statistics based on all our predictions.

We have come to the end of our content about What Is The Brick Economy? You can do a Google-based search to do more detailed research about the contents of our site. We recommend that you also read the last article in our Finance category, What is Makwa Finance.

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