Are Old Model Kit Prices Dropping on Ebay?

[impcon]

So what is your opinion? Do you see a decline in the prices that some of the old kits are bringing these days? I have made some decent scores lately on old built kits - not necessarily glue bombs - but kits that may need to be redone. For example, a 1963 Galaxie convertible annual for under $20.00 that has never been painted or modified.. Now in all fairness, I see some things going for stupid prices IMHO - a built '59 Ford Galaxie annual that was converted to a Fairlane with the wrap around rear glass that sold for over $300.00! It was a nice build - no question about that but the price was sure steep! ANother Corvette promo that I watched sold for over $600.00! So what is your opinion? I know thatthe economy is in the toilet and some people are selling off their toys to live.. but let's hear what your thoughts are...

[Art Anderson]

So what is your opinion? Do you see a decline in the prices that some of the old kits are bringing these days? I have made some decent scores lately on old built kits - not necessarily glue bombs - but kits that may need to be redone. For example, a 1963 Galaxie convertible annual for under $20.00 that has never been painted or modified.. Now in all fairness, I see some things going for stupid prices IMHO - a built '59 Ford Galaxie annual that was converted to a Fairlane with the wrap around rear glass that sold for over $300.00! It was a nice build - no question about that but the price was sure steep! ANother Corvette promo that I watched sold for over $600.00! So what is your opinion? I know thatthe economy is in the toilet and some people are selling off their toys to live.. but let's hear what your thoughts are...

For starters, eBay is still an auction site, plain and simple. As such, it's affected by the winds of the economy, in very much the same manner as "estate auctions" at your local auction gallery, or even Barrett-Jackson, Mecom, or Kruse where the subject matter is real 1:1 collector cars. That said, there are "flukes" at times, particularly in the world of scale model kits. One factor that many don't understand is, right now it's nearly the end of May. Of all the months of the year, May can be the very slowest when it comes to sales of model car kits, be they old, desireable, collectible kits, or new kits in your LHS. Now, I know that I'm writing this to be read by serious model car enthusiasts who build and build and build, regardless of the month, the time of year, the seasons; but trust me, after 30yrs time spent behind the counter working in hobby shops (or otherwise being closely associated with them) the vast majority of model car builders (whom we seldom if ever see!) do take up other activities as spring blends into summer. This is just as true with adults as it was when we were kids--outdoor activities take center stage, be they baseball, swimming, riding bikes as kids; or yardwork, sprucing up the homestead, grilling out on the patio or deck, or going on vacations. All this affects the interest in looking for old model car kits on eBay (or at shows and swap meets) just as it slows hobby shop sales to a mere crawl compared to say, October through April (in my experience), so a bargain in a MIB '63 Galaxie Convertible kit doesn't surprise me a bit. Auction prices are a function of how many people are bidding on a particular item, multiplied by how much the most passionate bidders are willing to spend to get that kit. In May through perhaps September, there will be fewer really passionate buyers with the money to spend, than say in the middle of the traditional model car building season--the dead of winter. The same is true of model car shows and swap meets--summer shows in general can be "dead zones" compared to those in the fall, and in late winter, both in numbers of visitors and entrants, and in the sales that vendors there can expect to experience.

Now you mention being shocked that a built, and highly modified AMT '59 Ford Galaxie 500 into the more mundane Fairlane sedan would close at $300, you seem shocked at that. Perhaps you aren't aware that there are a handful of very skilled modelers (Paul Hettick out in SoCal comes to mind here) who do not only fantastic conversions on older model car kits (Paul, BTW, is the builder behind many of The Modelhaus' fantastic resin kits of major conversions which make it possible for model builders to have great model kits of cars that the model companies never did--nor never will--produce in kit form). In addition, their work is such a level as to attract collectors who have the money to bid up their kind of work. While the dollar figures are massively different, a "Hettick-Built" model car can have the same panache in our 1:25 scale world as the works of Picasso, Rembrandt or Van Gogh enjoy in the art world. Paul, and the rather small group of master builders like him, have a following that goes beyond the vast majority of the rest of us--I suspect that many buyers of his (and the work of others like him) probably don't build, but they do appreciate fine work when they see it, and love adding unique, high quality scale replica's to their own collections. In a way, that's kinda how Franklin and Danbury Mint have sold hundreds of thousands of their high-end diecast miniature cars and trucks over the years, and still do, in albeit reduced numbers in our current economic climate.

The world of promotional model cars is also different than that of model car kits: Promotional models tended to be taken home, played with by kids back decades ago, not hoarded by the caselot, although there were some back in the 60's who would buy a case of each new one at the then $2 pricetag, store them away in a safe place--by doing so, those astute collectors of 40-50 yrs ago have been able to reap the harvest of their far-sightedness. As for the Corvette promo you mention, of all promotional model cars of the 1950's through the end of such promotional model offerings in the mid-late 70's (dealer promo's, that were available only from participating new car dealerships), Corvettes are La Creme de la Creme--they have a rabid following, not only from say, promo collectors, but even more important, Corvette enthusiasts, and yes, those old Vette promo's (and BTW, virtually none of those promo's can ever be reissued, their tooling got turned into 3in1 model car kits for us builders, as soon as the promo production runs were finished each year) can and do fetch serious money. The same is true of the MPC promo's of Mopar Muscle Cars--particularly Barracuda's, especially the '70 models, which were offered back in 1970 in each of the Hi-Impact colors--a full set of those, pristine, un-played with, unfaded, perfect chrome can almost buy you a new car today, and that regardless of the current recession.

With really collectible, fairly rare stuff, it tends to counter the economic cycles sometimes: In 1980-83, investors with cash to invest, but not wanting to be battered by the stock market, discovered muscle cars, which only a couple of years before were merely "used gas-hog cars", and quickly bid up the prices on such cars that in the late 70's could be had for a couple of grand apiece in Grade 1 condition, to tens of thousands, almost overnight. The same thing happened again, during the 1990-91 recession--again, same sort of investors, same sort of available cash, same sort of stock market doldrums--collector car prices drove upward again, only to fall off in the late 90's as those same speculating investors left the collector car thing to go back to stocks and bonds.

So, nothing of what you wrote surprises me, not one bit.

Art

[randx0]

Art stole my thunder I was going to say the same thing

[Modelmartin]

I think the overall trend is still up.

[kelson]

I joined Ebay a few years ago and have noticed some old annuals that years ago sold for $200 and up,now sell between $85-100 now,could be the economy and people aren't spending or everyone who wanted one has one in their collection but noticed that professional built ups of resin kits or one off builds bring huge money.I have no problem with the lower prices as i've added doubles to my collection,great for buyers not so good for sellers i guess.

[Yekoms]

Ebay/internet made me realize that some "rare" things are not as rare as I thought that they were. An example being after going to many model/toy meets in my area,southeasern Pennsylvania,there were no Uncertain T kits to be had. After ebay/internet connected more people that kit shows up almost monthy.

Smokey

[impcon]

You all make valid points in your posts and honestly, there were a couple of things mentioned that i had not thought of. Still, I think that the economy has brought the prices of a lot of kits down - especially old built ups. Some people are still looking at the moon with their starting prices. I recently bought an old annual for $31.00 that had been previously listed with a buy it now of $47.50. Like was said - "good for the buyer - not so for the seller".I am managing to gradually replace many of the kits at affordable prices that I have had and lost over the years.. and that pleases me to no end.

Edited May 24, 2010 by impcon

[Railfreak78]

I would say when and where to buy on Ebay but in the long run I would be paying a lot more than I want because of you Seriously I have not seen a fall off. Also you get what you pay for is a golden rule. I buy mainly HO trains and Hot Wheels from Ebay and you need to know when to strike. Everyone wants a deal and kit wise I have seen things this last week that would make Johan guys have a heart attack for how cheap it was and yet newer ones I want are more money It changes Hourly

Edited May 24, 2010 by Railfreak78

[crazyjim]

I don't buy much from Ebay so wouldn't know the prices. I sent a question about shipping costs to the guy selling his "rare" '66 Chevy that hasn't been made for 40 years. Never heard back.

[george 53]

That's funny Jim, cas I DID TOO! Yer right though, he NEVER got back with me, either!

[Peter Lombardo]

Funny thing about sales...sales of anything....an item is only worth what someone else is willing to pay for it at that momment in time. One or two isolated sales do not make a trend. As long as someone has the cash and the desire, an item (model kit, regardless of age or rarity) will sell. Some guys collect, some guys build. Builders build, collectors tend to pay more for a "hole" in their collection, it just depends on who is in on the bidding process that day.

[Modellpularn]

I discovered that "May-no sale" factor. Had stuff out on our Swedish version of ebay. It's called Tradera. I must have thought really backwards when I set the time for the auctions to end. Between 2 and 4 in the afternoon on Sunday the 16th. And it was a big holiday over here as well.... Many bids were downright ridiculous! Got so disgusted and disappointed.... And it seems over here, many people are "controlled" by when they get their paycheck. Usually by today, the 25th each month. I'm going to a big antique car swap meet on Saturday, to see if people are more likely to buy stuff. Cleaning out the garage sort of.

[showrodfreak]

63 Galaxy has been repoped twice in the original box. Unless the box has the original date you'll pay top dollar. Reissues are way cheaper now

[jimnohio]

As a dealer...I can attest the fact that May is a slow month. It was when I was selling diecast as well.

The overall prices seem to have stayed the same though. Sure there are few oddities in both directions. LOL..most ebay guys losing their shirts try to make up for it with rediculous shipping prices. I send emails calling them on it when I see 'em!

Guy here in Ohio was going to charge me $20.00 shipping for 4 cars, actual cost was under $7.00. I told him we better cancel the auction as there is no way I could give more than a "1" rating for shipping cost. He canceled immediately. LOL.

Those "I sold it" stores are notorious for rip off shipping prices, screwing the buyer as well as the seller. When selling through "I sold it", they keep a percent of the sell price...and all the shipping!

Back on topic...I could have a whole topic posted about shipping price scammers.

Its summer! Collectors are taking their break from their hobby (for the most part). Prices and the number of models offered will again go up as summer ends. Been that way for years. Sellers also don't want to spend all their time "listing"...there are steaks to grill, baseball games to see, and yards to mow.

IMO, obviously.

[Chuck Most]

A lot of it appears to be subject related, too. You're always going to pay big bucks for a Renwal or Pocher kit, unless you are buying it from someone who's clueless to it's value. Some of the 'rare, but still somewhat common' kits aren't as dear, and I think you'll more likely see those selling for less than what you'd traditionally expect. Hey, we are in a recession, right?

[impcon]

63 Galaxy has been repoped twice in the original box. Unless the box has the original date you'll pay top dollar. Reissues are way cheaper now

I should have mentioned that the '63 that I bought is an annual convertible with the year stamped bumpers - not the hardtop. And it is CLEAN!!!!!!!!!!! I am totally thrilled with it!!!

Edited May 25, 2010 by impcon

[The Modeling Hermit]

I think it has much to do with who's selling and buying. Most people will be able to buy cheap and sell high. I seem to have the opposite actions. It seems that when I want to buy something, I pay through the nose, but when I want to sell something, the bottom drops out.

[Chuck Most]

Tell me about it! I wish somebody would make resin repops of those Renwal Revival kits! I'm willing to bet if you sold a resin repop of any one of those for even $50-60 bucks you'd do okay. (Hey- I've got the Packard version, if anybody's interested in making molds. )