Lego sets come in all different sizes with different numbers of Lego pieces. Of course bigger sets cost more, but is there a linear relationship between set size and cost? Let’s take a look. Oh, and yes – I did look at this before, but that was a long time ago. It’s time to revisit the data. It’s not too difficult to find data for Lego prices and number of pieces. If you just look on the Lego online store. There you can find both the price and the number of pieces for each set. You can even sort them by “themes” – like “Star Wars” or “friends” Even though it’s easy to get, I only collected price data for a subset of the themes (mostly because I am lazy). If I put all of this data together, I can get a plot of the set price vs. number of pieces in set. Here is what that looks like. Let’s look at the linear function that fits this data. The slope of this line is 0.104 US Dollars per Lego piece. There is your answer. On average, one Lego piece costs 10.4 cents.
Also, I think it’s nice to notice that this data is fairly linear.What about the y-intercept for this fitting function? The value from the fit is 7.34 USD. That means that for this function, if you had a Lego set with zero pieces in it, it would still cost $7.34 – you know, for the box and instructions and stuff. Yes, I know that there are Lego sets cheaper than $7.34 – this is just the y-intercept for the fitting function. Now let me point out the three outliers in this plot. Notice that all of these (one from Duplo and two from the City theme) are train sets. Of course train sets are going to be more expensive than a set with the same number of pieces (but not a train) because of the electric motors and stuff. If you are looking for a “good deal”, might I suggest the Trevi Fountain (21020). This set has 731 pieces for just $49.99. According to the fitting function, a set with this many pieces should cost about 83 dollars. Suppose I break all the data into the different themes.
If I fit a linear function to each of the different themes, I can get both the price per piece of Lego and the price of a zero piece set. Here are the brick prices for some of the Lego themes. The error bars are the uncertainties in the fit parameters. If you know what a Duplo block is, you probably aren’t surprised that they are the most expensive (63 cents per brick). These are bricks created for smaller kids. They are all large so that you can’t swallow them. It just makes since that they would cost more. The other expensive bricks are the City sets. But this is deceiving due to the high set prices of the train kits. I suspect if you removed these train sets from the plot, it would be a more normal price. What about the base cost? This is the y-intercept of the linear fit. Here you will notice that the City theme has a negative base cost. This means that if there were no pieces (on average) in a City set, Lego would pay YOU money. But why is this negative? It’s because of the high price of the train sets.
They increase the slope of the linear fit but also push the y-intercept into negative values. The real bargains are the Architecture themed sets. These have a base cost of only 70.7 cents where as the Marvel themed sets have a base cost of 3.61 USD. I’ve probably already answered some of these questions in the past, but it would still be fun as a homework assignment. Some of these aren’t too difficult. You could think of them as Duplo Homework. Notice that not even once did I use a plural version of the term “Lego”.Follow me over to the blog for more homemade goodness . . .If you have been involved in the LEGO hobby for some time you are well aware of how important it is to have a LEGO shopping strategy. LEGO is not cheap, and both the LEGO Company as well as retailers are taking advantage of the popularity of the brand by keeping prices as high as they can. This is an unfortunate occurrence, especially in the current economy. Ultimately the strategy may backfire both for LEGO and retailers, but that is another topic, and whatever they do, we can still develop our own LEGO shopping strategies to get the best deals.
One of the places people often shop for LEGO is Toys’R’Us. It is pretty much the only toy-shop chain left in the USA, and people naturally think of visiting them first when shopping for LEGO or other toys. One thing they are often not aware of however is how much Toys’R’Us jacks up prices on LEGO sets (and probably everything else too). A $5-$10-$20 mark-up from regular retail price is very common. Worse is when Toys’R’Us advertises sales around holidays. You will see 40% Off and BOGO 50% (Buy-One-Get-One-50%-Off) sales on LEGO advertised on the Toys’R’Us website and at their retail stores. However that 40% or 50% off is NOT what you think it is! In fact you often end up worse then buying the same LEGO set at an Official LEGO Store, or some generic retailer like Wal-Mart. I will show you how Toys’R’Us is cooking the numbers and what you really end up with when you bite the hook on a Toys’R’Us LEGO sale. Eye-opening, isn’t it? The point is that if you want to get LEGO for the best prices, you really have to do your math. L
EGO shopping could actually be quite fun if you take finding the best prices as a challenge. And it doesn’t have to be a long and tedious endeavor. Just have the latest LEGO Catalog or visit the Online LEGO Shop to check regular retail prices (I like the Catalog because I can take it with me to the store I’m planning to shop at). Then have a calculator handy to decode all the pricing voodoo retailers use to lure us into buying from them. 🙄 Again, the most notorious offender is Toys’R’Us. Other retailers like Wal-Mart, Target, K-Mart, Barnes & Noble and of course Official LEGO Stores almost always use the regular retail price, and when they have LEGO sales they to be decent, even excellent (like the 50% off regular retail price on some of the best LEGO sets at Wal-Mart last December). They may not sounds as fancy as Toys’R’Us as BOGO smoke-and-mirrors LEGO sales, but you don’t have to do complex calculations just to figure out if you are actually getting a deal.