Various kinds of LEGOs are designed for children and adults to escape daily gambling. One of the most popular is the LEGO Technic, which is a challenging type of building set.
Due to its quality, rarity, and brand recognition, the cost of LEGO Technic can be expensive.
What’s the Difference Between Lego Sets and the Lego Technic?
Unlike other sets, the LEGO Technic features specialized pieces. These are designed to enhance the models’ functionality and introduce a new approach to building with the blocks. They work well with other sets of LEGO.
The goal of the LEGO Technic is to construct advanced structures and models using different methods compared to other sets. Specialized pieces are utilized instead of bricks in this type of set.
The various pieces included in the LEGO Technic include motors and pneumatic components, which can enhance the models’ functionality.
The first set of LEGO Technic was released in 1977. It featured different types of construction pieces, such as a go-kart, a tractor, a mobile crane, and a helicopter.
Today, the range of models featured in the Lego Technic is enormous. Some of these even include the Batmobile and the Ferrari 488 GT.
The cost of the Lego Technic comes from its quality and rarity.
Due to the quality and rarity of the Lego Technic, the building set can be expensive. In addition to this, other factors such as licensing and research costs can also affect the price of the product.
The high price of the Lego Technic makes it more expensive than sets such as Mega Construx, Kre-O, and Cobi.
Quality
Although you might think that the Lego blocks are plastic, they have various other features. The blocks are made using ABS, which is a durable plastic that’s ideal for the way they’re used. Due to its hard and resilient nature, the bricks can withstand a weight of around 950 pounds.
In addition to the blocks, the Lego Technic uses other plastic components such as baseplates, plastic accessories, and thermoset polyester. There are over a dozen types of plastic used in the construction of the Lego models. The company also has a strict manufacturing process that’s capable of producing high-quality components.
The quality of the plastic components used in the Lego construction sets helps the blocks fit well with each other.
Brand Recognition
The Lego brand is one of the world’s most prominent toy companies. It’s been around for a long time, and almost everyone today has a memory of playing with it. The company also produces high-quality pieces and models, and it doesn’t usually issue product recalls.
This means that when you buy a Lego Technic set, you’re getting a product that’s made from high-quality materials and has a long history of being well-received. It also guarantees that your build will not fail even if something goes wrong during your build.
Investability
Lego models are great investments due to how some have appreciated over time. Secondary market buyers are also looking for these toys to complete their collections or just to get a fully-assembled set. Due to the popularity of the Lego Technic series, more people are likely interested in getting their hands on an assembled version of the building set.
Furthermore, many Lego Technic sets feature collaborations with other companies, like Porsche, Land Rover, and Star Wars resulting in some of these sets being sought after by collectors, further inflating their resale value.
Licensing
Lego Technic’s various creations are often released in collaboration with other companies. For instance, there are numerous models based on the Porshe 911 car and the Mercedes-Benz Zetros truck. Since the company has to acquire the rights to make the products, it’s believed that a royalty payment is involved in the licensing deal.
In its 2020 annual report, Lego revealed that it spent over $500 million on licensing and royalty expenses. This is a significant sum, and the company likely passes this cost on to its customers in the form of higher prices for their sets.
Research and Development
To remain relevant in the market, Lego has to continuously come up with new sets, models, and series. Launching new sets and models is not easy, especially considering the quality of Lego Technic products.
In addition, Lego releases new sets every year. According to the company’s 2020 annual report, about 55% of its portfolio is comprised of new creations. As a result, the organization has to spend around $138 million annually on R&D.
The higher costs associated with these activities have led to higher prices for Lego products. More complicated models such as the Lego Technic would likely be more expensive.
