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Funko would release Pop #1048, Stitch with Record Player, exclusively through their website in May of 2021
Because these were only available through the online store, Funko would not offer returns on products, making bulk buying risky
Retailing for just $15, Chase editions of the Pop go for $150 now, with almost no change in resale price since release
If you’ve been reselling for a minute, you might already be familiar with Funko Pops. These miniature vinyl figurines occupy quite a large chunk of the collectibles market, and they are not only popular but widely produced. It seems like there is a relevant Pop for everyone, from the obvious movies and games, to Supreme Court Justices, cereal boxes, and outsider artists.
With such a wide pool of products, not everything will resell, but some of the most popular releases do tend to sell out. Franchises like Marvel, Star Wars, or Disney IPs tend to be the most in demand, and in special circumstances, everything can line up just right for resellers to score big. That’s exactly what happened with these Stitch with Record Player Pops, which now resell for $150 or more.
Before we dive into this specific Funko, we need to go over the Funko market in general first. As we said before, there’s a whole hell of a lot of Funko Pops. Seriously, browse their shop sometime and you will be surprised by what actually gets made into a figurine. Clearly, their strategy is to cast a wide net and pump out as many Pops as possible to make as many sales as possible, which runs antithetical to the traditional approach of many collectibles manufacturers.
While this complicates things for resellers somewhat, some Pops will do better than others, and are generally the best choice to focus on reselling. Additionally, while Funko puts an emphasis on mass production, they also have several ways of creating rarity within a wider release. One of these methods is a “Chase Edition”.
Chase Editions are modified versions of a particular Pop figure. Not every Pop will have a Chase variant, and the ones that do will advertise that on the the Funko Shop.
Chase variants will feature some degree of alternate design to the standard Pop. This may be something as simple as a different expression, or can be entirely different outfit or pose.
For the Stitch with Record Player Pop, the Chase Edition Stitch has his mouth open, singing along with the song on the player. Chase variants are rare, but not extremely so. No official number exists, but a common number thrown around is 1 out of 6. Allegedly, earlier Chases were much harder to find, at a 1 in 36 distribution, but their popularity led to Funko producing more.
Because Chase variants have the potential to sell for much more than standard Pops, resellers will typically target them. A common strategy is to buy up large stocks of newly released collections from retailers, hoping to get several Chase Editions with each order. This is called “Chase farming”. Unwanted stock can simply be returned to the retailer since it’s unopened, and the Chase variants can be sold for profit.
However, the widespread use of this strategy has negatively impacted Funko markets in the past. Since it’s relatively easy for resellers to gain large numbers of Chase variants this way, supply is fairly high. Resellers end up undercutting each other just to make a sale, and buyers have plenty of sellers to choose from since so many people use this method.
Additionally, the massive returns of non-Chase Edition Pops devalues the market for standard Editions. While Chase variants obviously resell for more, even standard Pops can resell over retail on a popular release. When Chase farmers dump all of their unwanted stock though, it’s easy for consumers to find stock at stores or online, and the resale price plummets.
This method of farming for Chase variants does not work through the Funko Shop though. Funko’s return policy makes it clear that returns will NOT be accepted for bulk orders (more than 6 pieces), or for any items marked as Funko Shop exclusives.
So, when the Stitch with Record Player Pops dropped as Funko Shop exclusives, resellers who had previously relied on the bulk buy and dump strategy were out of luck. The market was more or less even, and prices would reflect that.
Retailing for $15 each, the standard Pops would resell for around $30-50. It’s important to note also that standard Pops were still a great investment for this release. Because the market was no longer so one-sided, the higher competition led to the Pops selling out extremely fast, and the lack of returns meant that stock would not be able to return to the market at retail price, dumping the price.
Chase variants however, were an instant hit. The resale price pretty much immediately settled at $150. Despite dipping to around $90 in the months following release, the price would surge back up to $130, then $140, and now consistently sells at or around $150, a remarkable accomplishment for any collectible.
Expect to see these blow up on TikTok
Start calling your local Cinemark
