Do You Love Collecting?

Would you like to make a business out of collecting diecast?

Thousands of people collect items of all sorts in this and many countries in the world. Some of the most passionate collectors or any item are collectors of NASCAR and Musclecar diecast cars.

These fans take collecting to the highest level spending thousands of dollars per year on their collections and the displays for these same collections. Therefore diecast collecting can be an attractive and fun business with a worldwide market potential and it is a worthwhile business to consider.

Making a living selling diecast can be problematic however.  The key to profitable diecast collecting can be elusive. There are too many variables in the business of collecting and then selling both NASCAR and MUSCLECAR diecast to make it a slam dunk money maker.

Diecasts are COLLECTIBLE items. This usually means that they usually are only worth a premium to a specific collector. Almost every diecast made has a buyer, the trick is to have your diecast available when that particular buyer is looking for it. A very rare Dale Earnhardt Senior diecast listed in the various guides and collectible digests with a value in the hundreds of dollars may only bring a few dollars if it is listed incorrectly or at the wrong time.

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In NASCAR, drivers, cars and sponsors change every year. The value of these corresponding diecast collectibles varies with these changes in circumstance.  One key to diecast collecting is to diversify your collection in a way that will broaden the exposure of any one driver or manufacturer, i.e. do not invest in only one or two baskets. Your driver could lose his ride, your specific diecast manufacturer could lose it's cache'.  Never bet on any one sure thing, you can never be that sure.

The smart collector and the smarter seller knows to invest in many different types of diecast to maintain the value of the collection.

Diecast sellers must be willing to cut losses and move on, it is an essential attitude if you are planning on selling diecast.  Becoming attached to a particular car or driver and holding your perceived value for that car or drivers car higher than the market will bear is a sure sign that you will not be the most profitable in this business.

Other factors to consider when investing in a collection for resale

• Manufacturer - All diecast manufactures are not created equal. Also, not all products from each manufacturer are high quality.  Diecast cars of all sorts purchased at big box retailers such as Walmart, Sam's Club, Kmart, Target etc are usually of the lowest quality and almost never considered as fine collectible diecasts.  Closeout deals can provide stocking stuffers or loss leaders for your sales but the pricing must be less than 50% of retail to make this type of closeout attractive to a diecast seller.
• Rarity - Is the car you are considering easy or hard to find? The more rare a diecast is the better - usually.  You must have corroborating evidence that your "rare" diecast is actually valuable. A 1998 Steve Park Action Pennzoil GM Dealers Snap-On 1/24 1 of 459 issued diecast may be a rare car, but it also not a very valuable car. Keep in mind that some "rare" cars are simply unwanted. While other just have not yet found the light of day.  Be reasonable and know that a Dale Earnhardt car may be worth more than Steve Park.
• Driver - In NASCAR the driver is almost everything. This rule does not apply always but it is a pretty good one to follow.  Keep in mind the history of NASCAR and know that drivers change teams and sponsors and they also sometimes rise and fall in popularity.  Dale Earnhardt Jr. is a perpetual fan favorite, Matt Kenseth could have the opposite fate.  Never invest too much in today's hot driver he could be tomorrows turkey. Perpetual favorites like Mark Martin, Richard Petty, Dale Earnhardt, Dale Earnhardt Jr. Jimmie Johnson, Tony Stewart, etc... are exceptions and can almost always be expected to do well.
• Listed Value - Guides such as Beckett and Diecast Diegest are full of good information but are not always easy to follow and sometimes are way off on values.  Subscriptions to these guides are a good investment but always take the values stated with a grain of salt.  If you are selling on eBay, the Beckett and Diecast Diegest guides are almost never correct for values so you should use more appropriate research such as Terapeak or Hammertap to determine your values.

Muscle Car and Other Diecast

If NASCAR diecast is attractive to you then by all means collect NASCAR.  But if the history of the automobile is of any interest you should look into the amazing diecasts available in non-NASCAR classifications.  Almost every significant car in history is available as a diecast from some very fine manufacturers.  From the Model T Ford and original Benz to a Studebaker Truck or a 1953 Buick Skylark (The real first American Sports Car), almost any car or truck can be found in diecast.

Premium Manufacturers

• Franklin Mint - Fine, limited edition diecast cars, trucks, and even NASCAR greats.  Franklin Mint makes all kinds of Diecast collectibles including aviation, maritime, and motorcycle pieces. Difficult to find values priced attractive enough to be considered worthy of re-sale.
• Lane - Exact Detail - Makers of fine American musclecars and classics. Incredible detail in limited editions with values that can be worthy of investment.
• GMP - Georgia Marketing Promotions - These are diecasts made by ERTL for GMP and are fine diecasts.
• Ertl - Makers of all types of diecast collectables. The 1/18 scale automobiles marketed under the name American Muscle usually carry the highest resale value.

There are dozens of manufacturers of these types of diecasts.  You must learn what will sell and when you start out collecting stick with the most popular names with the most popular models.  A 1967 Shelby Cobra GT500 will sell much faster than a 1962 Ford Falcon no matter the manufacturer of the respective diecasts.

Care should be taken when selling these types of diecasts to photograph them completely. Most buyers are collectors and know what they are buying, but there are new collectors coming into the hobby every day.  Show the new collector the extraordinary detail of these diecasts (spark plug wires, real suspension with springs and shocks, rotating driveshafts, etc.).

NASCAR Diecast

Manufacturers -

• Action - # 1 in the industry. Many levels of cars in multiple scales sold through multiple outlets.  Action owns numerous other manufacturers and they are the king of NASCAR diecast.  Action owns - Revell, RCCA, Brookfield and Winners Circle.  Winners Circle is the low end line sold via big box discount retailers.  The top of the line is the RCCA Elite line of Action Diecast. RCCA Elite has the highest detail available in a 1/24 scale diecast.
• Team Caliber - Preferred, Pit Stop and Owners series.  Some consider the Team Caliber Owners series as the most detailed and highest quality diecast in the business. Unfortunately they do not always sell as well as Action or Action Elite.  The quality is very high but the name is not as well known or as widely distributed.  Preferred series is comparable to standard Action diecast collectibles and is almost always a numbered limited edition. Pit Stop is comparable to Winner's Circle cars.
• Franklin Mint - Best Quality - limited availability.  Mostly limited editions of NASCAR greats like Richard Petty.

NASCAR Collectibles - Scales & Terms

Scale

• 1/64 = Similar to a matchbox or hot wheels type of car.  Fun to collect and fine for new collectors but do not expect to make a living buying and selling 1/64 scale cars
• 1/32 = Limited editions - easy to store and some very rare gold plated versions available.  Nice size for a personal collection.
• 1/24 = Most popular size - must have for the seller of diecast cars. Easy to sell, easy to ship and the best compromise bewteen size and detail for collectors.
• 1/18 = More detail than any smaller size.  More difficult to store and ship, older cars extremely heavy. Be careful on your shipping charges on these.  1/18 scale Action diecasts have more detail than 1/24 RCCA Action Elite.
• 1/10 = Very rare - very large - very detailed - very expensive - more likely found from Franklin Mint or other manufacturers.

Terms

• CW = Clear Window - The interior of the car is in full view with all of the details. Driver seat, steering wheel, gear shift, air vents, roll bars etc are all available to the viewer in explicit detail.
• Bank = A car with a coin slot - from the origins of diecast collectibles. Banks were manufactured to increase the uniqueness of a NASCAR diecast before NASCAR was as popular as it is today.  The original banks were black window and some of them are very rare indeed.  In recent years only clear window banks have been produced in very low numbers. These banks would seem to have a high value but inversely they seem to not carry a lot of regard with collectors.  IF you find a black window bank look twice at the value, otherwise it is a loss leader in most instances.
• BW = Black Window- As described above.
• HO = Hood Opens - reveals detail of engine and drive train.
• TO = Trunk Opens - reveals details in rear of car - fuels cell etc.
• Hauler = a replica of a 18 wheel truck which the teams use to transport race cars and equipment to the various tracks. There are serious collectors of only haulers so do not discount this line of diecast.
• Pit Wagon = Team Tool Box - replica of the tool box used in the pits.
• Helmet = replica of a driver helmet

Keep in mind that diecasts in your collection can always find a home with someone else. You may have to list them in an eBay store to find a particular buyer who values your specific diecast or re- list it on multiple occasions but there is always someone on eBay who will buy what you have available.  Keep in mind that your price must be appropriate to give the new buyer value for their purchase.

Conclusion

Diecast collection is fun and rewarding

Diecast selling is challenging and even more rewarding.

Start small and work way into the business of selling diecast.  It is a business that can be easily run from your home garage.  It does not take much effort in customer service to make yourself stand out in the eBay marketplace.  Take the best photos, ship ASAP and describe your product in every detail and you will earn a loyal following of buyers.  If diecast buyers are anything, they are loyal if you are honest and forthright. Always take care of your customers and they will take care of you.

Good luck in your new endeavor, buying and selling is fun and challenging and try to remember you will not make a profit on every item, but you will enjoy seeing them come and go out the door. You will gain confidence as you increase sales, your sales will increase with your confidence.

Enjoy the business of collecting and collecting as a business!