A young college student has disclosed that he has generated sales amounting to £300,000 from Lego figures over the past year on the online platform eBay. Jamie Bell, who began selling toys he had outgrown at the age of 13, recognized the potential for profit in Lego pieces, leading him to acquire kilograms of the plastic toys through online purchases and connections, which he then sells to collectors or individual sellers.
Recently, on May 2, he successfully auctioned off a 95kg collection of Lego Star Wars figurines, claiming it to be the ‘largest mini-figure lot ever listed on eBay globally.’ The listing, showcasing images of the massive assortment arranged on his parents’ bedroom floor, started at £1 and fetched an impressive £22,428 after attracting 65 bids.
Jamie’s venture, named JTB Collectables, amassed £300,000 in revenue during the previous tax year. After deducting expenses related to procurement and operations, he managed to retain a profit of approximately £50,000. Recognizing the escalating nature of his earnings at the age of 16, Jamie and his father opted to enlist the services of an accountant to manage the financial aspects of the business.
Presently, the entrepreneurial student is selling around 100kg of Lego on a monthly basis, employing both bulk sales and individual figure auctions online. Despite the success of his side business, Jamie has expressed his intention of not pursuing it as a full-time occupation, as he plans to focus on studying History at university in the upcoming year.
Hailing from Wandsworth, South London, Jamie shared his excitement about the auction process, noting that a significant portion of buyers are avid collectors with substantial disposable income, while the remaining buyers are individuals looking to resell the items gradually. With the assistance of his father in handling packing and administrative tasks, Jamie emphasized the need for financial management early on in his entrepreneurial journey. He intends to allocate a portion of his earnings towards future investments, particularly for his first home and savings in an ISA account.
Having kickstarted his entrepreneurial endeavors by selling his own toys and later transitioning to reselling bundles for profit at the age of 14, Jamie’s business has shown consistent growth, with revenues reaching £100,000 in the previous tax year and tripling in the subsequent year. Although he remains a collector himself, he selectively acquires high-value figures for personal collection, distinct from the bundles earmarked for sale. Notable transactions on his eBay account include the sale of two Lego Batman figures for £751 and other large bundles fetching £4,458.
By offering insights into his entrepreneurial journey and future aspirations, Jamie exemplifies a young entrepreneur navigating success while prioritizing personal and educational growth alongside his thriving business venture.
