Collectibles are increasing in price on eBay

Shoppers may be cutting back on spending amid the cost-of-living crisis, but they’re happy to splash out on Lego, exclusive sneakers and designer handbags while chasing thousands of dollars in profit from collectibles.

eBay Australia managing director David Ramadge says a survey of the country’s collecting habits shows that while consumer confidence is set to fall over the next year, younger shoppers in particular are happy to spend to find a wide range of accessories and pop culture items collect.

“It’s really not just your grandpa collecting stamps, art or antiques anymore. It’s modern pop culture,” he said. “People collect sneakers, Lego, luxury handbags.”

eBay released the study on Wednesday after surveying 3,690 consumers about their interest in collectibles. The survey, conducted with management consultancy Deloitte, found that 28 per cent of people identify themselves as collectors – a number that could be extrapolated to 5 million Australians for the entire population.

Gen Z and Millennial shoppers were the most likely to buy collectibles, with half of surveyed shoppers in these age groups reporting participating in treasure hunts.

Coins, Lego sets and handbags are the most popular categories for collectors – and Ramadge says shoppers are strategic when spending money on expensive and exclusive items.

“Forty percent of these collectors collect with financial goals,” he said. “They do it because they’re trying to make money.”

“They do it because they’re trying to make money.”

David Ramadge, CEO of eBay Australia and New Zealand

And while they don’t make millions, a decent fraction of collectors surveyed by the e-commerce giant said they come out on top, with the median profit from selling collectibles ranging from $5,000 to $10,000 over the past few years.