TCC Issue 3: A Guide to LPS Monetary Worth and its Many Misconceptions

By Chiyo 
== Introduction ==
So, you are wondering what your Littlest Pet Shops are worth? There are over 3000 LPS, and it can seem daunting to sift through data to find the monetary values of them. Here is some foundational information to assist you to better understand the value of LPS. 
*Note: The ultimate value of an LPS is the sentimental attachment one has to their pet. At the end of the day, monetary values can only tell us so much about the worth of a collection, because the genuine value comes from the memories you make.
Why should you trust this information? Chiyo Tadashi (the author of this article) has been collecting Littlest Pet Shops since the year they were released by Hasbro. That's 16 years. Chiyo has a love for LPS history and all those... "geeky things;" dates, packaging info, categorization, and other random details. She has a spreadsheet database of number, generation, line, packaging info, themes, mold info, variant info, species, breeds, release dates, retail, and pricing info.
*pushes up glasses*
Let's get down to the fun stuff.
== Misconceptions ==
# "LPS value comes from the magnet color." This is a VERY common misconception, so don't feel upset if you have fallen for this silly statement. If you are reading this article, you most likely know that the first-gen pets usually have red magnets (save PP's and MM's), the second-gen usually has blue magnets, and the rest have holes. The most ridiculous incident I have ever witnessed was when I saw a seller list MM1 for $1,000, claiming it was ultra-rare. Unfortunately for the seller, Magic Motion Pets usually go for $0.50 to $3.00. Whoops. (In fact, MM pets are often included in LPS trades as extras because everyone wants to get rid of them) Where does this misunderstanding come from? Usually, people consider vintage to be more pricy, and since the red magnet pets are the oldest generation folks automatically think they are rare. Don't believe me? LPS #2297, the purple sparkle husky single with NO magnet at all goes for $60.00 on average. Where does the value come from? See "Determining Actual Worth" below.
# "LPS value comes from age." This misconception essentially has the same logic as the first one. Just because a pet is old or from an older generation doesn't increase the value. 
# "LPS value comes from eye markings. Sadly, this is also wrong. Eye marks originally determined the personality of the pet but did not cause any increase in monetary value. To prove my point, what eye shape does the infamous #410 have? A circle. The circle shape is considered "normal type." Despite its standard eye shape, LPS #410 is worth $150.00 on average. 
# "LPS value comes from eye color." Once again, this is wrong. There are some colors that are more common in LPS, such as blue or green, but that does not contribute to their worth in the slightest. Consider #410 with blue eyes, the sparkle husky with blue eyes, #272 with green eyes, or #1100 with blue eyes. Those pets are all rare. 
== Determining Actual Worth ==
What gives LPS their value? There are two defining factors.
=== Demand ===
High demand will GREATLY increase the monetary value of an LPS. This is a general criterion for economics. The most obvious example is #675: The infamous Savvy Reed. This may be shocking news, but based on the production value (see below) of #675, without factoring in high demand, the dachie is actually... common. Why does she typically go for $90.00 on average? It's because of that high demand. When everyone wants a product, that product will purchase faster. In order to keep products in circulation longer, and because of greed, sellers will raise the price. High demand pets generally include (Main 5 pets) Dachsunds, Cocker Spaniels, Great Danes, Shorthair Cats, Collies, Crouching Cats, Bon Bon Cats, Puppies, and Kittens.
A good rule of thumb is this: because casual collectors want cats and dogs, usually, those prices will be higher, and traders will only swap a cat for a cat or a dog for a dog.
=== Production ===
Genuine rarity is based on production value. Production value means the amount of something produced (and generally what it is produced with, although that doesn't apply to LPS). A clear example would be this: average school pencils go for $0.77 on average, right? What if someone destroyed every single pencil in existence but one. That last pencil would be worth a LOT. Everyone would want that last pencil. The less amount of pencils in existence, the higher the price. People usually do not know the production value (thus the genuine rarity) of LPS, since most casual collectors are focused on purchasing "Main 5" pets which are typically rare solely to high demand.
*An odd scenario of these factors would be a combination of high demand and production value, such as #410. #410 is a main 5 shorthair cat (demand) and is an exclusive pet (production value).
Thank you for reading, and happy collecting!
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