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 I am not a dealer or profiteer; I collect simply for the enjoyment of collecting. As I am often asked for my advice on collecting, I thought that I might put together this brief overview of some of the more relevant topics of interest, especially for those new collectors. Please feel free to let me know what needs to be added or amended! I wish you the best in pursuit of your hobby! Just a note: this is original material. Please do not reproduce or quote any of this material without my express approval, or the approval of the person who contributed it.. |
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| WHY
COLLECT? Collecting is a truly personal activity. One of the great things about any hobby is that every person has a different motivation. Some people (like myself) collect for the enjoyment of collecting. Some people have unlimited tastes (and corresponding budgets), while others savor the excitement of finding a bargain. Some people are simply looking for a lost toy or model from their youth, having finally reached a point where they can acquire it. And, of course, some collect for the financial incentive (i.e. making profit). What motivates you? WHAT'S IT WORTH? There are several questions to ask yourself when ascertaining the value of a model: 1. What's the supply/demand situation for a given model? Does it vary by location? 2. What do the established (objective) price guides think that it's worth? 3. Are you buying retail, at a swapmeet, or from another collector? Remember that a retailer is operating a business, and so will buy from you for lower than "guide price" but probably sell for a higher price. 4. What's the condition of the model? What is the condition relative to most of the other models like it on the market? In the case of many current models, why would you buy a less than MIMB example when so many are available? 5. What's it worth to YOU?  I am often
asked what a particular model is worth. The answer, of course, is that
"it depends". For example, I have seen identical models trade
on ebay at the same time for a wide range of prices, simply because of
the way that the item was described, how it was categorized (making it
easier or harder to find), or the time of day or even the day of the week
when the auction ended. As an example, I watched the ODC "Day's Inn" bus sell for $25 one week, then $10 the next week! On the retail side, I frequently see vendors sell identical new models for a range of prices, again for a range of reasons. Some models are oversupplied - released at a high price, only to be "dumped" later at bargain prices. There's nothing quite like the frustration of seeing your expensive model a few months later on the clearance table! Prices can be very cyclical - some areas of collecting will go in and out of favor. When the market is hot (Beanie Babies, baseball cards) prices tend to become unrealistic; conversely, you can find some real buys when an area is no longer popular. Generally, my advice is to simply be patient. Yes, you may want to grab that "once in a lifetime" item when it appears, but more often than not you will find that another (better) model will come along. Especially in the case of the more common models, you can often find a bargain on a very nice model...if you are patient. At the same time (again, depends on your motivation), you may want to come down a bit in quality where price is an issue. For example, I found a very nice Spot-On RM (unboxed) for around $40 - far, far less than the several hundred dollars for a "perfect" model. In this case, I don't need an MIMB model - just an example for my collection.  My
main advice: learn the market. Find as many listings as you can for an
item and develop a sense of price ranges relative to condition and availability.
Use the price guides as a reference, and in the end, simply ask yourself
what something is worth to you. Just remember this - you will never get
the best price every single time. But isn't that true of everything? I'm
more than willing to admit (to the delight of the seller) that I have
overpaid for items simply because I wanted them when I wanted them, and
saved on others when I was willing to wait.Site
visitor Brian Willoughby adds: "the costs involved in tolling up
a model is such that they are (or at least in past were) mass produced.
While certain models may be rare, there is undoubtedly another floating
around out there and I feel that a new collector should not get so involved
with the first model that he/she finds to loose sight of the fact that
another one exists. Basically, don't pay too much for something simply
because it's rare and you don't think that another will ever turn up.
Somehow, another one of those obscure items will eventually surface." CASE
STUDY:
Is the Seller Hiding Something, Or Just Uninformed?Here's an interesting case of a bus advertised from a reputable seller. Of course, not everyone is a photographer, but a fuzzy picture can hide many ills. In addition, the seller wasn't even sure what it was. It appears to be a Corgi 35101 from 1997 (not 1984, as stated in the listing). In addition, there is no mention of a box, and the asking price is a small fraction of what a "mint" model with a box should fetch. It would be easy to believe that the seller is just uninformed selling this model for $5, or it may be slightly damaged without a box. Again, a case where I'd be careful. CODES - 1, 2, and 3 Something to consider when assessing the value of an item relates to it's "code". There are three in common use. "Code 1" refers to a model that was produced by the manufacturer and has not been modified in any manner. "Code 2" refers to a model that was produced by a manufacturer and later modified, with the assistance (or at least permission). EFE, for example, produces quite a few Code 2 variants. Finally, "Code 3" refers to those models modified without the participation or explicit permission on the manufacturer. Some are one or kind, others may be produced in small batches. There's nothing wrong with these - many of truly works of art - just remember that valuing a Code 3 model is very much "what's it worth to you". |
GRADING,
OR "BEAUTY IS IN THE EYE OF THE BEHOLDER" There
are a number of grading scales available, which apply to both a model
as well (if available) its packaging. Although these scales vary, all
agree that "mint" is just that - literally in a brand-new state,
without imperfection.Many use the designation MIMB to indicated a mint model in a mint box, the top grade possible. That said, I see quite a few models (especially in the on-line auctions) where the terms "mint" and "excellent" are liberally applied to models that are, well, not. I especially like ads where an item is "mint except for...". An item missing a tire or decals, no matter how nice the remainder is, is simply not mint (beware when someone intends to reassemble several models into a "mint" one). That doesn't mean you can't buy and love one of these models...just set your expectations properly. Many people like to purchase poor quality models for restoration...and as I mentioned before, it's common to compromise on quality when it's the only way to purchase a model within your budget. Here's one to contemplate...the red Dinky at the top was listed on ebay as "good condition", yet it is missing the nearside advertisement, possibly the farside advert, the pole, and the "clippie" - it may even be a repaint. Perhaps that why no one bid on it!  Sometimes
I have to chuckle at the descriptions that people use. This gem (a Playart
bus, once upon a time) was advertised as "playworn". Now, I
suppose that if Godzilla played with it, I could understand it ending
up like this. As far as it having anything other than sentimental value...TOO GOOD TO BE TRUE? It's the fantasy of many collectors to find a clueless seller who has no idea what they have on their hands. I see this occur all the time on Antiques Roadshow - someone buys an antique in the hope that it's really worth many times what they paid. Yes, it happens, but people also win lottery prizes. Caveat emptor = "buyer beware" As a general rule, I find that most sellers are at least "somewhat" aware of value. The proliferation of price guides, swapmeets, and online auctions provides even the laziest seller with some idea of what an item goes for. If you see an item - particularly a rare item - at a greatly discounted price, just make extra sure that you know what you're getting. CASE STUDY: Too Good To Be True?  It
is my understanding from my Far East sources that imperfect (reject) models
will sometimes escape from the various diecast factories - almost always
appearing without a box.I saw this Trax taxi recently, advertised for $10 (no box, of course) with the disclaimer "as-is". Now, these Trax models are adult collectibles and 99% of the time have the original packaging. Since this is a rare model that would normally sell for around $100 MIMB, I would be very wary of this one, "in my humble opinion". UPDATE: the model sold for $10. IMPORTANCE OF PACKAGING? Once upon a time, diecast models were meant to be toys for children. That meant that they were played with, and that all packaging was quickly thrown away. For this reason, the value of older models is substantially impacted by the existance and condition of the packaging - in some cases, doubling (or more) the unboxed value!  Today,
almost all of the models are targeted to
the adult collector, meaning that MIMB is almost always assumed, since
many of these models will never be taken out of the box. Even though I
collect a lot of these "collectibles", it seems a little bit
sad that they won't get played with (tossed about, buried in the backyard,
etc) - the stuff that kid model memories are made from.As with the models, keep in mind that packaging in mint or excellent condition is just that - no tears, stains, et al. Also keep in mind that, consistent with "too good to be true", it is unlikely to find a 50 year old box that looks brand new. Not only are repro boxes available, but an old box can be soaked, cleaned, and reformed to look like new...but it's not. Caveat emptor! There have been some very interesting articles in the diecast periodicals showing how repro boxes (and models) can be aged to look authentic. Site
visitor Brian Willoughby adds: "Something else that I believe to
be a dirty little secret concerning original packaging is its rather finite
lifespan. At one point, I took a course in archives management and one
of the main topics of discussion was what to do about high-acid content
paper. Surfuric acid is a natural by-product of the paper pulp process
and unless it is neutralized or the paper is made by an alternative method
that does not introduce it into the resulting paper, paper will, over
time, self-destruct. High-acid paper first becomes yellow and eventually
brittle. I have several 1950s era Matchbox models in their original boxes
and I know that the boxes will probably not be around for another 50 years
since they are already yellow and brittle. Nothing can be done about this
and I think that it is something to consider when paying a high premium
for a model with original packaging. Granted, not all boxes seem to deteriorate
(I have some Dinky boxes that show no signs of acid destruction), though
some do and it's something to keep in mind." |
A
FEW POINTERS WHEN BUYING ON EBAY (OR OTHER ON-LINE AUCTIONS) The
good news about ebay and other online auctions is that you can see an
incredible variety of products in one easy venue. The bad news: there's
a lot of crap out there. Unfortunately, the listings don't say "crap"
or "overpriced". They tend to say "rare", "unique",
and "no longer produced".Here are just a few tips I have when participating in an auction: > Be completely certain what you are buying - if there isn't enough information, write the seller. > Only buy from a reputable seller with an appropriately positive feedback score. I take the time to read any negative comments. > Having said that, understand that all transactions do not result in feedback. I have seen situations where people don't leave neutral or negative feedback for fear that they will get undeserved retaliatory feedback from the other party. > Understand in advance payment terms as well as shipping costs. There are cases where I will not deal with a seller because I consider their shipping charges to be excessive - again, comparable sales will give you a sense of what's fair. > Don't get caught up in the excitement of the auction - know your own reserve price and stick to it. > Search for similar items in completed sales - as a means to determine price ranges. > Caveat emptor - again, if it seems too good to be true, it probably is. Although people will sometimes list an item at a discount because they don't really know it's real value, more often than not they do know what they're doing. > Beware of any listing without a photograph. The best situation is top have multiple photos - especially side and front shots for buses. > Just because someone calls something "rare" doesn't make it so. I see a lot of "rare" Budgie buses on ebay. I've also seen people refer to recent Corgi models as "hard to find" - probably true if you live in Greenland, less so everywhere else. > Make sure, especially on rarer models, that the model is 100% original - it's very easy to get replacement parts these days. The same rule applies to the packaging. Also, make sure that any other inserts or additional items are present. > Make sure that the item will be packaged properly, unless you don't care about the value of the model packaging. > Had a bad experience? Take a look at this site for suggestions on fixing it. Here's wishing you successful shopping!  STORAGENow this really is personal preference - often a function of available space - but what's the point of collecting something if it resides in a closet or attic? There are a wide range of dust-free display cases on the market. The various diecast publications run ads every month for a range of dealers, such as Picture Pride in the UK. There are wide ranges of finishes available - it really depends on your budget! I haven't found very many comparable cabinets in the US, but one company that does a nice job is Custom Displays. As for my collection of 500+ models, I am still negotiating with my beloved "she who must be obeyed" (apologies to Rumpole) regarding the display of our models (note:she's actually very supportive of this madness of mine). Site
visitor Frank Wagner adds: "It is important to tell the collector
not to expose the models to directsunlight. The light may cause terrible color changes which are irretrievable. Additionally direct sun exposure can cause high temperature in the displays which may damage the models. Another point is to tell the collector that it is a good idea not to put models with soft tires directly on the display shelves. They are sensitive to pressure and after some time standing on the same point the tires may flatten out (all the more when the display is exposed to sunlight)." COLLECTING RESOURCES  There
is a wealth of information available for collectors, both in terms of
periodicals, reference materials, books, not to mention groups (both in
person and on the web) that focus on collecting. Yahoo, for example, hosts
quite a few newsgroups and clubs dedicated to various aspects of diecast
collecting. I have found people, in general, to be extremely pleasant
and helpful.Take a look at our collecting resource and link page. There are a number of price guides on the market from objective sources. You can also scan auction prices at sites such as Vectis to get a feel for higher-end items. BEAUTY IS IN THE EYE OF THE BEHOLDER This model was listed on Ebay as being in "good" condition.  So let's figure out what "good" means here - the banner decal is shot, the LT decal under the lower deck windows is a mess, a tire is possibly missing...I'd hate to see a "poor"! This is why we say "caveat emptor" - buyer beware. |
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