When it comes to hobbies, some options are more affordable than others. For example, horseback riding and collecting classic cars are usually a little bit more expensive than stamp collecting or fishing. However, there is one popular hobby that could qualify under both of these categories. It starts out as a cheap way to have fun, but once you’re hooked, it can get much pricier. And all it takes to start this addiction is 97 cents.
In 1968, Mattel released a line of toy cars that were meant to compete with Matchbox, a line of model cars and trucks produced by Lesney Products, a British die-casting company (until Matchbox was bought by Mattel in 1997). These original 16 cars were called Hot Wheels and were intended as children’s play things. But today, Hot Wheels cars are much more than cheap trinkets kids drive in the sandbox. They are collector’s items coveted by the young, as well as the young at heart.
In a March 2013 article posted on ksl.com, author Jessica Ivins notes that, while sales of Hot Wheels and Matchbox cars have begun to stall over the last few years, these brands still net Mattel around $1 billion annually. Speaking as someone who has a few hundred or so of these vehicles, I can safely say that there are many collectors out there who are trying to help shift sales back into high gear.
Eric Dougherty, a US Navy flight mechanic and someone who has also been collecting Hot Wheels since he was a child, knows a lot about the brand and their collectability.
“My parents started giving me Hot Wheels and Matchbox cars when I was one I believe,” Dougherty said. “I keep collecting them because I know some will gain value and also because I like so many different cars. I would like to own the real version of every Hot Wheels car that I have.”
So, just how many cars does Dougherty believe he has after 23 years of collecting? “I probably have over 2,000 cars, but they are not all in one place.”
As Dougherty said, many of these cars will accrue some monetary value as they get older. But just how valuable can a tiny metal car be? Collectors tend to look for cars that are made entirely of metal rather than cars with plastic chassis, as this means they are older. Also, things like red lines around the tires and rubber wheels also increase the value of these cars significantly.
In November 2013, eBay compiled a list of the top ten most priceless Hot Wheels cars for almost any collector. Number 10 on the list, the Collector Number 271 Funny Car from 1995, was shipped out with the number 271 printed on the cardboard package. There were apparently 12 printed this way and only six are known to exist in their original packaging today. Because of that, this car is valued at around $3,500.
While that number is fairly impressive, the number one car on the list, a prototype of a pink 1969 Volkswagen bus called the Beach Bomb, is even rarer. Because this car was a prototype, it’s the only one known to exist. Current owner Bruce Pascal reportedly bought this one-of-a-kind VW replica for a staggering $72,000.
While Dougherty has not made that kind of money off of his collection yet, he has done fairly well with some of the cars he’s bought. “I got one in a thrift store that’s worth like $45 and a bunch that are worth $25,” he said. “And I don’t like to pay more than a dollar for them.”
While he hasn’t found a car worth five figures, clearly Dougherty has had some luck with finding some valuable cars. However, he says his favorite car is his most beloved because of sentimental value. “My favorite is my orange Flat Out 442 (a customized version of Oldsmobile’s Cutlass 442),” he said. “It was one of my uncle’s and I always loved it since I was little.”
Because Hot Wheels cars can be so sought after and so valuable, there is also something of a black market for them. Dougherty referred to these people as “scalpers” and described their system. “There are old retired guys that basically pay the employees of Toys R Us, Target and Wal-Mart to open the cases [of Hot Wheels] first. If they don’t pay them, then they get the date and time when they restock the shelves so they can pull out the rare Treasure Hunt cars.” These cars are rare because of their rubber wheels and special metallic paint, so Mattel only places one or two in every couple of cases in standard packaging so they blend in with the standard cars. This means that collectors must go on a treasure hunt to find them, hence the name.
This may seem harmless enough, but Dougherty added that it defeats the purpose of the hobby and ruins the fun for everyone else. “The cars cost a dollar, but they can sell on eBay from $30 to $50. Now actual collectors don’t get to enjoy the treasure hunt and have to pay 30 to 50 times what Hot Wheels is charging.” It’s a very elaborate system, but it appears some people will go to just about any length to make a few bucks in the cutthroat world of toy collecting.
Cleary, there is much more to collecting Hot Wheels than just rummaging through the blue blister packs hung on hooks in the toy aisle. There are subtle details and minor differences that can make these cars worth a little cash, a really nice pay day, or simply sentimental value. As Dougherty illustrates, collectors need a keen eye, a lot of storage space, and a few dollars here and there to be able to keep up this hobby.
Collecting Hot Wheels can quickly become an obsession. It starts out as a simple hobby, but has the potential to become very addictive, very quickly. It starts out fairly affordable, but can quickly become an expensive pastime. And all of this excitement starts with just 97 cents.
PHOTO TAKEN from ebay.com
