How Collecting of Beanies Can Lead to Wealth

In the 1990s, Ty Inc. produced plush animals stuffed with plastic beans. These toys quickly gained a following and were considered collectibles. Collectors began attaching tags to the stuffed animals that had their name, birth date, and a poem. Some were even thought to make collectors millionaires. Rare Beanie Babies can fetch more than three hundred dollars.

In 1994, Ty distributors recalled an earlier toymaker who would break the mold for one of his gnome lines and tell customers the piece was "retiring." Warner told store owners that the Lovie was being retired, but this resulted in a frenzy among dissatisfied buyers. When Lovies became rare, parents started paying tens of thousands of dollars for them.

The first Beanie was marketed in the early 90s. The price tag was set based on nothing, and collectors and investors flooded the market. This created a new market, and those who played the game right became rich. In this way, rare Beanies became a popular investment and some people started selling them for a profit. This phenomenon led to collectors becoming wealthy. During that time, a woman named Benchik-Abrinko sold a rare Lovie for $10,000 and used the proceeds to adopt her first child. Meanwhile, a Ty sales rep bought one of these coveted rare Beanies to pay for her daughter's braces.

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