For those that love cars, the ultimate thrill is to collect them. Everybody has their favorite classic and would love to get their hands on as many as possible. Now, most of us are on a budget and our real lives wouldn’t allow us to spend up to or even over six figures for a car.
For some, the next best thing is to collect diecast cars. They have amazingly accurate details so those that love the aesthetic of classic cars will be happy with that. But, are they a good investment to make?
If you’re looking to collect because you just love cars then that is enough to go on. Others may want to make sure that their money is going to something that can increase in value over time.
In this article, we will go over if collecting diecast cars is worth it from an investment perspective.
How to start collecting
The key to collecting anything is to find the things that you like. Collecting diecast cars is no different. However, when you are doing so with a return coming back at some point, the way you collect changes.
The best thing that you can do is to find your niche and then research from there. Some types of cars are going to be worth more than others. Likewise, cars from a certain era will also be of a different value over more recent ones.
It doesn’t matter so much how you choose your focus, but it is important that you have one. If you go very broad and just buy cars that strike your fancy at a particular moment then your collection will suffer. Of course, there is nothing wrong with a collection that doesn’t have a particular theme, but its value will be lower.
What to know about diecast cars
As you begin to collect, you will start seeing different terms and types of cars. It’s helpful to understand a bit about what the different types are. Both in terms of investing, but also to find your own preferences.
The first thing you are going to see when reading a description about a car is the scale. It is not just the size, but the size relative to the actual model of the car the diecast is designed after. They are supposed to be exact replicas right down to the scale.
The main scales you will see are 1:18, 1:24 and 1:64. So, that means that a 1:18 scale car is 18 times smaller than the original and so on.
Then you will see who the manufacturer is (MFG) and whether the car has a hood that can open (H/O).
How does the car get its value?
There are several factors that go into the value of a diecast car. But, there is one almost constant thing to remember. The older, the better. It is simply a fact that the older manufacturers of the diecast cars did a much better job at duplicating the original.
Also, the materials were more pure and they were built to last. It also helps that they were modeled after the contemporary cars of the time which many people love.
Another factor is its scarceness. If there are a large number still around then this leads to a lower valuation. When you are dealing with an old car, with a limited number of examples still around then this makes it more collectible. Even some new models will be valuable simply because they were made in limited numbers.