Flipping blind boxes for profit: This S’pore store lets fans cash in on the collectible hype

Everyone has their obsessions, and for a growing number of Singaporeans, that obsession comes in the form of blind box collectibles.

From snaking queues at launches to a human-sized Labubu auctioned for S$193,000, the Pop Mart phenomenon has taken off in a big way.

With its rise, a new type of fan has emerged: one who not only collects but also resells.

This dual role is on full display at CO PLAY, a store in Plaza Singapura that has quietly become a hub for fans, collectors, and small-time resellers. For them, it’s more than just a retail space—it’s a marketplace where fandom and commerce collide.

Inside CO PLAY: A collector’s treasure trove

Our Managing Director, Jacky, first came across CO PLAY and was immediately intrigued. I initially reached out to them through their Instagram page, but after not receiving a reply, I decided to visit the store in person to find out more.

Even on a random Wednesday night, CO PLAY was bustling with activity. Most of the shoppers appeared to be in their 30s to 40s, many of whom were helping family members or partners track down a specific figurine.

The store was lined with shelves, each packed with an overwhelming number of collectibles, from Labubus and Mollys to Smiski, Sonny Angels, and indie artist creations. But unlike traditional blind box experiences, CO PLAY makes it easier for buyers by labelling each box with the exact figurine inside.

This simple change reveals a deeper truth: the store isn’t just about the thrill of the surprise. It caters to serious collectors who know exactly what they want, and in many cases, what they can resell.

Overall, it felt like a collector’s paradise, where you can find rare gems and one-of-a-kind treasures by indie artists and small businesses.

Behind the curtain: How consignment stores work

While browsing, I noticed a recurring sign at various corners of the store—it stated that all items were sold on a consignment basis.

This means sellers entrust their items to the store, which sells them at a markup and takes a cut of the final sale price.

This setup is common in secondhand markets, including those for luxury bags, fashion, and toy collectibles.

While we don’t know the exact commission CO PLAY charges, industry estimates place it anywhere between 25% and 60%.

Despite the large cut, many individuals and small businesses continue to sell through CO PLAY. The secondhand collectibles market in Singapore is booming, and blind box figurines are now routinely listed online at prices well above or below their original retail value.

Same figurines, different price tags

During my visit to CO PLAY, I noticed several identical figurines priced very differently. For instance, two Skullpandas were going for S$20 and S$35 respectively, while a pair of Hironos was priced at S$18 and S$16.

The price differences often came down to condition—items that were unsealed or not in mint condition were typically sold at a lower price.

But others, especially limited-edition or “secret” figurines, were priced far above retail. One such figurine I spotted cost S$110. Driven by a mix of curiosity and fear of missing out, I bought it, and it now sits proudly on my office desk.

The transaction that followed was revealing.

After making my payment, the cashier began scrolling through QR codes linked to specific sellers. A woman nearby, who blended in with the crowd, stepped forward to pack and hand over my purchase.

I later learned that many sellers are physically present in the store, ready to fulfil orders as they happen.

CO PLAY: More than just a retail space

This seamless coordination suggests how closely sellers are integrated into the store’s everyday operations. At CO PLAY, the roles of customer and merchant are often one and the same.

They know the market, track prices, and treat their collections as assets—and CO PLAY is simply the platform that enables it all.

Although some (myself included) feel that the prices can be steep, with many online reviews reflecting that sentiment, there’s no denying that CO PLAY’s business model works—the store takes a cut, resellers make a profit, and collectors walk away with a figurine they’ve been hunting for.

Even if there’s the occasional buyer’s remorse, the excitement of finding that one missing piece keeps the cycle going. For many fans, the emotional payoff outweighs the price.

As long as demand stays high and the hype continues, CO PLAY will remain more than just a retail space. It is a key player in shaping Singapore’s growing resale scene for blind box collectibles.

Featured Image Credit: Vulcan Post