Updated: Jan 11
Who would have thought that a 59-cent Mattel Hot Wheels Redline diecast toy car could be worth thousands of dollars, but today they are quite the craze.
Of course, it's the rare, promotional, or highly sought-out versions that command the highest dollars, but just recently this market has really heated up. If you have some late '60s or early '70s Mattel toys that are still in their original packages, have someone check them out as the proverbial ‘Iron is Hot.’
A great local example came to us by way of our most recent appraisal fair. A couple of guys came in with the classic Mattel Hot Wheels car case that all of us boys had when we were kids. Inside was a great little collection of these toy cars.
Upon initial inspection, we knew they were quite good, and they were still in excellent condition. This collection was well kept and we learned that as boys, they were not allowed to play with these particular cars.
Their grandfather was an electrician that did some work at Mattel in California and had acquired the cars before they were thrown away as errors, unpainted and test-painted cars. Thank goodness someone in the family had the foresight to put them away.
Here's the tale of the tape. The collection of cars realized more than $24,000 at auction. Much better than our initial $3,000 to $5,000 estimate for the collection. The unpainted examples stole the show. Meaning, that Mattel never painted the cars as errors or blanks. The 1967 Camaro brought $2,750. The Custom VW was the star at $4,250 and the Camaro that was in an unreleased color soared to $3,250.
These prices would sound crazy to some folks but when I tell you the 1969 Prototype Beach Bomb VW Van sold recently for $72,000, you can see, these things are pretty hot and in demand. Like new and in the package are commanding amazing prices as well. It's not just the prototypes. Even loose, played with cars can fetch hundreds if you have the right colors or right models.
Want a few examples