'A wall full of Be@rbricks is worth as much as an apartment in China'

It would not be far-fetched to say that Be@rbrick kickstarted the trend of collecting modern toys. It has certainly bridged the gap between toys and artwork. Since the introduction of Be@rbrick in 2001, the Japanese toy company behind it has collaborated with many artists, fashion designers and even well-known retailers to produce various Be@rbricks in limited quantities.

Factors such as the interest from celebrities, limited availability, and the participation of renowned designers in the design process have made Be@rbrick figures the next novel investment, after luxury watches, sneakers and designer bags.

The Be@rbrick story began with its founder, Tatsuhiko Akashi, who started the renowned Japanese toy company, Medicom Toy, in 1996. Back then, Akashi said that he wished to use his toy figurines to help people recover from their emotional trauma.

Kubric figures were among the earliest toys produced by Medicom Toy. Named after the famous movie producer, Stanley Kubrick, Kubric figures have a block style that resembles Lego figures.

Akashi created the first Be@rbrick figures for the 2001 World Character Convention that was held in Tokyo. The organisers of the event approached him to design a door gift for convention goers. Taking into consideration that the organisers needed several hundred door gifts at short notice and that the year before was the 100th anniversary of the teddy bear soft toy, Akashi decided to produce Kubric figures with bear heads. The door gifts were a hit and Be@rbrick was launched in the same year.

Be@rbrick figures come in specific sizes. For instance, a 100% figure is 70 mm tall. On the other hand, a 50% figurine is only 35 mm tall and usually used in keychains. There are also larger sizes, such as the 400% or 280 mm tall figures, and 1000% or 700 mm tall ones which are also the largest Be@rbrick figures available. The majority of collectors prefer the 400% or 1000% sizes.

Medicom Toy then partnered the Tokyo HMV music store to release an exclusive Be@rbrick figure. Following this, Medicom Toy began to release Be@rbrick figures of cartoon characters in Winnie the Pooh, the Marvel Avengers, and Star Wars, etc, in limited quantities.

In addition, Medicom Toy also partnered global fashion and streetwear brands, such as Chanel, Nike, X-Large, Hermès, and Comme Des Garcons etc. to launch limited edition Be@rbricks.

In 2007, the late fashion designer par excellence, Karl Lagerfeld, fashioned a Be@rbrick design after himself. Only 1,000 Be@rbrick figures with this design were produced globally and they are mainly found in the Karl Lagerfeld luxury goods stores, making Karl Lagerfeld Be@rbrick figures highly sought after by collectors.

In 2006, Karl Lagerfeld who was also the creative director of Chanel, designed a Chanel Be@rbrick. Similarly, only 1,000 copies of this Be@rbrick were released worldwide and most of them are displayed in Chanel shops around the world, with only a few being transacted previously on the second-hand market.

The Chanel Be@rbrick is modelled after Coco Chanel who founded the Chanel brand. The Be@rbrick wears the classic Coco Chanel outfit of a tweed black suit adorned with pearls. At a Christie's auction held in November 2019, a Chanel Be@rbrick figure was sold for US$30,000 (S$40,100).

Recently, three Chanel Be@rbrick figures were looking for buyers on the StockX online marketplace. At the time of writing, the cheapest was going for US$75,018. But on another online marketplace, TheRealReal, a Chanel Be@rbrick figure was recently sold for only US$8,000.

The blue Chomper Be@rbrick is another design that Be@rbrick enthusiasts are familiar with. This is a collaboration between Medicom Toy and the renowned American artist and designer, Kaws.

Based on StockX transaction records, a Chomper Be@rbrick was sold for US$7,500 in March 2020. Following this, the asking price for a Chomper Be@rbrick rose to US$14,200 on the platform in November 2021. Even though one was sold at a lower price of US$11,000 in December 2022, the current asking price for a Chomper has rebounded to US$32,892.

Other than certain limited edition Be@rbricks that retail for tens of thousands of dollars, the selling price for 1000% Be@rbrick figures is normally between S$600 and S$800, while the selling price for 400% Be@rbrick figures is generally between S$140 and S$180. As for 100% Be@rbrick blind boxes, the market price for an entire series is around S$200. As for 50% and 70% Be@rbrick figures, they generally retail for less than S$20.

When interviewed by Lianhe Zaobao, the founder of DrunkenBear, Koh Hui Keong, said, "Some Be@rbricks come in very limited quantities and the theme(s) and designs in each series vary, making them worth collecting. But in terms of investment, I feel that not every design is worth investing in."

So how does one go about choosing investment-grade Be@rbricks? Koh suggested that buyers focus on the so-called Japan Domestic Market/Product (JDMP) Be@rbricks. He said, "Medicom Toy produces different Be@rbricks for different countries and regions. On the Medicom Toy website of a particular country, buyers are only able to view Be@rbricks for that country. In the local Be@rbrick resale market, the value for such Be@rbricks will take longer to appreciate since they are not scarce. On the other hand, based on past experience, the value of JDMP Be@rbricks have greater room for growth."

Koh also urged buyers to pay attention to the packaging when buying Be@rbricks. For example, whether the packaging proves that the Be@rbrick is a JDMP. He said, "This is similar to buying an expensive watch from a dealer. The certificate of authenticity will contain information such as which country the product is from. This is a strong plus point when trying to resell the item."

On the resale prices of Be@rbricks, Koh said, "Certain Be@rbricks can appreciate to several times their retail price, but it is a matter of supply and demand. I certainly do not recommend buying a Be@rbrick without proof of origin from the reseller at too high a price. Because without the proof of origin, the buyer would face difficulties in selling to international buyers, especially if the resale price of the Be@rbrick is high. So, Be@rbrick buyers need to choose wisely if they wish to profit from their investments."

Koh added, "There are numerous Be@rbrick designs in the market now. As an investor, I would not be greedy and wait for the resale price to double or increase several times before I am willing to sell. I would be satisfied if I am able to make a 10% to 50% profit in the short term before going in search of my next Be@rbrick. This can be a very enjoyable investment pursuit."

Qiu Qikai is the company director of Trillion Gains, a company involved in the import, export, and sale of Be@rbricks. In an interview with Lianhe Zaobao, he talked about the Be@rbrick celebrity effect, "The Be@rbrick Weibo community and discussion channel has close to 5,000 posts and accumulated 100 million reads, Be@rbrick-related videos have 100 million views on Douyin, and there are many videos on Be@rbrick unboxing and collections on Bilibili and Xiaohongshu."

Qiu went on to say, "Not long ago, Chinese actress, Mao Xiaotong, shared a video of her dancing at home. Youths who watched the video complimented her home decoration and two Be@rbrick figures were seen displayed beside her television. Influenced by celebrities, a growing number of youngsters have chosen to decorate their homes with Be@rbricks for an artistic and fashionable touch."

In a variety show, Taiwanese artiste, Show Lo, also gave viewers a tour of his toy collection. Lo keeps the air conditioner of the room in which his highly valuable toys are stored switched on around the clock. In this photograph, the Be@rbrick that Lo is clutching is the Chanel Be@rbrick designed by Karl Lagerfeld in 2006.

A saying among Chinese internet users goes: "A wall full of Be@rbricks is worth as much as an apartment in a second or third tier Chinese city." The influence of celebrities is the reason why Be@rbrick walls have become an indispensable backdrop in many photographs posted by social media users.

Qiu shared his view: "A true Be@rbrick enthusiast purchases them for their artistic value. Since they buy Be@rbrick figures for their collections, they pay no heed to the resale price fluctuation. But a growing number of speculators have entered the market, leading to chaotic pricing in the second-hand Be@rbrick market."

When asked about the price trend of Be@rbrick, Qiu said that during the Covid-19 pandemic years of 2020 to 2022, the prices of some Be@rbricks skyrocketed to tens of times their original retail prices. Now, the market is undergoing a correction and prices have come back down. But in the long term, he expects Be@rbrick prices to appreciate by between 5% to 10%.

Other than the celebrity effect, movies or events can also cause an increased demand for the relevant Be@rbricks. For instance, the latest Garfield movie will be released in February 2024, 18 years after the previous one. According to Qiu, there has been more interest in Garfield Be@rbricks recently as a result. In particular, there is greater demand for the older edition of Garfield Be@rbrick figures that have been well-maintained.

Whether one is a Be@rbrick enthusiast or not, one cannot help but admire Medicom Toy's marketing model because it demonstrates an expert understanding of the appetites of young consumers for thrill. In doing so, the company has made it trendy to collect toys. So long as there are fashionistas, the Be@rbrick resale market is likely to continue its red-hot streak.

As with any collectible, the growing interest in Be@rbrick has led to the appearance of counterfeits. When making a Be@rbrick purchase, there is nothing more disappointing than buying a fake. Koh, the founder of DrunkenBear, shared the following tips to help newbies verify the authenticity of Be@rbrick figures.

1. 400% with 100% is the real deal

Authentic 400% (28 cm) Be@rbricks are always bundled with 100% (7 cm) mini Be@rbricks for sale - they are not sold individually.

2. Quality Authentic Be@rbricks are made of tough and high-quality materials. Even though most Be@rbrick figures are made of vinyl, there are versions made from wood, felt, metal, and plastic. When a genuine Be@rbrick is placed beside a fake, their difference is distinct to the touch. An authentic Be@rbrick feels robust.

3. Frosted plastic packaging

Be@rbricks figures come with frosted plastic packaging instead of transparent shell packaging.

4. Price

If a Be@rbrick figure is being sold at an unbelievably low price, chances are it is not genuine. "You get what you pay for" is applicable when it comes to buying Be@rbricks too, Be@rbrick products that are too cheap may turn out to be counterfeits of inferior quality.

5. Hidden tags

Between the end of 2021 and the start of 2022, Medicom Toy started affixing hidden tags on Be@rbricks. Each tag has a QR code printed on it. The authenticity of the Be@rbrick figure can be checked using the Hidden Tag App which can be downloaded from the App Store or Play Store.

Koh also suggested that those who are interested in collecting or investing in Be@rbrick should do their homework by reading up in advance before making their first purchase. If the Be@rbrick one is interested in does not come with a QR code, one can also check its box, serial number, shape, motif and font to ensure its authenticity. It would also be best for buyers to buy from reputable retailers for a greater peace of mind.

This article was first published in Lianhe Zaobao as "价格走势疯狂翻至上万元 积木熊炒起熊熊烈火".

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