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Posted by rdnewman24 on May 18, 2008, 10:42 pm
To thank you all and offer something back, I'm posting the results of
my research.
This was based on the retail costs of a 405-piece, large box of Lego
toy bricks, manufacturer’s item number 6166.
This retails from the Lego website http://shop.lego.com/product/?p=6166&La=
ngId=2057
in the US as $24.99.
This analysis was based on the same concept as the Economist's Big Mac
index.
You can see http://www.economist.com/finance/displaystory.cfm?story_id=944=
8015
if you're not familiar with it.
US$
equiv. Exch. rate % Over/under
Local Exchange of local
based on of foreign
Location (currency) Retail Rate price local
price curr. value
-------------------------- ---------- -----------
------------ --------------- -----------------
Australia AUD 49.99 0.9540 47.69 0.5240 82.1
Austria EUR 24.99 1.5591 38.96 0.6414 143.1
Brazil BRL 129.00 0.6086 78.51 0.3183 91.2
Canada CAD 34.99 1.0034 35.11 0.7118 41.0
Czech Rep. CZK 719.00 0.0623 44.79 0.5579 -88.8
Denmark DKK 249.75 0.2090 52.20 0.4787 -56.3
Germany EUR 25.99 1.5591 40.52 0.6167 152.8
Ireland EUR 29.99 1.5591 46.76 0.5345 191.7
New Zealand NZD 59.99 0.7738 46.42 0.5383 43.7
Sweden SEK 299.50 0.1675 50.17 0.4981 -66.4
Switzerland CHF 39.90 0.9571 38.19 0.6544 46.3
U.K. GBP 19.99 1.9580 39.14 0.6385 206.7
Looks like you want to buy your legos in Denmark, Sweden, or the Czech
Republic.
The EU area appears to pay more than we do in the US for the same box.
Thanks again.
Richard
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Posted by Anders Isaksson on May 19, 2008, 1:58 pm
rdnewman24 wrote:
> Austria EUR 24.99 1.5591 38.96 0.6414 143.1
> Germany EUR 25.99 1.5591 40.52 0.6167 152.8
> Ireland EUR 29.99 1.5591 46.76 0.5345 191.7
> Denmark DKK 249.75 0.2090 52.20 0.4787 -56.3
> Sweden SEK 299.50 0.1675 50.17 0.4981 -66.4
Something seems fishy with your numbers. SEK 299.50 is EUR 32.26 which is
not that far away from the other EUR values, still Sweden gets -66.4 while
Ireland gets +191.7!? What's the definition of this over/under value?
The BigMac index gives Sweden +42, EU +22, Denmark +49, ie. all of them
plus.
In the US you pay 7.33 BigMacs for the box of Lego, in Sweden we pay 9.08
BigMacs for the same box (Denmark 9.00, EUR countries 8.19 - 9.83). How can
you say:
> Looks like you want to buy your legos in Denmark, Sweden, or the Czech
> Republic.
You definitely don't want to buy Lego in Sweden, the price is twice the US
price, I don't know about the wages, and the taxes are much higher. Perhaps
you should have an index "how many hours of actual work to be able to buy
the Lego box" instead?
--
Anders Isaksson, Sweden
BlockCAD: http://web.telia.com/~u16122508/proglego.htm
Gallery: http://web.telia.com/~u16122508/gallery/index.htm
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Posted by rdnewman24 on May 26, 2008, 3:28 pm
wrote:
> Something seems fishy with your numbers. SEK 299.50 is EUR 32.26 which is
> not that far away from the other EUR values, still Sweden gets -66.4 while
> Ireland gets +191.7!? What's the definition of this over/under value?
Thanks for your comment. I indeed found an error in my calculations.
These should be more accurate and better match your intuition. 100%
over means that in the subject country, one pays twice the price in
the US. -10% would mean that one would pay 10% less than in the US.
(Sorry for the formatting, I'm posting this through a web client that
uses a proportional font)
US$ Legos Over/Under-
Price in May 18
equivalent implied valuation of
foreign Exchange of
foreign exchange the foreign
Location (currency) currency rate
price rate currency
(fx) S($/fx)
(US$) ($/fx) (%)
------------------------ ------------- ----------
---------- ----------- --------------
Australia (AUD) 49.99 0.9540
47.69 0.4999 90.8
Austria (EUR) 24.99 1.5591
38.96 1.0000 55.9
Brazil (BRL) 129.00 0.6086
78.51 0.1937 214.2
Canada (CAD) 34.99 1.0034
35.11 0.7142 40.5
Czech Rep. (CZK) 719.00 0.0623 44.79
0.0348 79.2
Denmark (DKK) 249.75 0.2090 52.20
0.1001 108.9
Germany (EUR) 25.99 1.5591
40.52 0.9615 62.1
Ireland (EUR) 29.99 1.5591
46.76 0.8333 87.1
New Zealand (NZD) 59.99 0.7738 46.42
0.4166 85.8
Sweden (SEK) 299.50 0.1675
50.17 0.0834 100.7
Switzerland (CHF) 39.90 0.9571
38.19 0.6263 52.8
U.K. (GBP) 19.99 1.9580
39.14 1.2501 56.6
So, yes, Sweden and Denmark pay about twice what we in the US pay,
and, yes, the U.S. seems to be the cheapest place to buy Legos. I'm
sorry that I was unable to find retail pricing for the exact same box
in Asian countries, that might have been interesting.
In any case, if you're in the U.S. and you know a child in Brazil,
help 'em out with some Legos.
Richard
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Posted by rdnewman24 on May 26, 2008, 3:28 pm
> wrote:
> > Something seems fishy with your numbers. SEK 299.50 is EUR 32.26 which is
> > not that far away from the other EUR values, still Sweden gets -66.4 while
> > Ireland gets +191.7!? What's the definition of this over/under value?
> Thanks for your comment. I indeed found an error in my calculations.
> These should be more accurate and better match your intuition. 100%
> over means that in the subject country, one pays twice the price in
> the US. -10% would mean that one would pay 10% less than in the US.
> (Sorry for the formatting, I'm posting this through a web client that
> uses a proportional font)
> US$ Legos Over/Under-
> Price in May 18
> equivalent implied valuation of
> foreign Exchange of
> foreign exchange the foreign
> Location (currency) currency rate
> price rate currency
> (fx) S($/fx)
> (US$) ($/fx) (%)
> ------------------------ ------------- ----------
> ---------- ----------- --------------
> Australia (AUD) 49.99 0.9540
> 47.69 0.4999 90.8
> Austria (EUR) 24.99 1.5591
> 38.96 1.0000 55.9
> Brazil (BRL) 129.00 0.6086
> 78.51 0.1937 214.2
> Canada (CAD) 34.99 1.0034
> 35.11 0.7142 40.5
> Czech Rep. (CZK) 719.00 0.0623 44.79
> 0.0348 79.2
> Denmark (DKK) 249.75 0.2090 52.20
> 0.1001 108.9
> Germany (EUR) 25.99 1.5591
> 40.52 0.9615 62.1
> Ireland (EUR) 29.99 1.5591
> 46.76 0.8333 87.1
> New Zealand (NZD) 59.99 0.7738 46.42
> 0.4166 85.8
> Sweden (SEK) 299.50 0.1675
> 50.17 0.0834 100.7
> Switzerland (CHF) 39.90 0.9571
> 38.19 0.6263 52.8
> U.K. (GBP) 19.99 1.9580
> 39.14 1.2501 56.6
> So, yes, Sweden and Denmark pay about twice what we in the US pay,
> and, yes, the U.S. seems to be the cheapest place to buy Legos. I'm
> sorry that I was unable to find retail pricing for the exact same box
> in Asian countries, that might have been interesting.
> In any case, if you're in the U.S. and you know a child in Brazil,
> help 'em out with some Legos.
> Richard
Sorry again for the formatting, it wrapped on me.
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Posted by Thomas Andersson on May 26, 2008, 12:30 pm
rdnewman24 wrote:
> Looks like you want to buy your legos in Denmark, Sweden, or the Czech
> Republic.
> The EU area appears to pay more than we do in the US for the same box.
Buy Legos in denmark? who would ever have thought of that? ;)
BTW, both Denmark and Sweden are EU countries...
Best Wishes
Thomas
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> Germany EUR 25.99 1.5591 40.52 0.6167 152.8
> Ireland EUR 29.99 1.5591 46.76 0.5345 191.7
> Denmark DKK 249.75 0.2090 52.20 0.4787 -56.3
> Sweden SEK 299.50 0.1675 50.17 0.4981 -66.4