How to Determine If Your Vintage Toys are Worth InsuringÂ
When you were younger, you may have collected everything from Hot Wheels, Pez dispensers, comic books, and action figures. Chances are that when you â€œgrew outâ€ of your toys, they made their way to the garage sale or thrift store. After all, there was always something newer and better coming out. However, if you or your parents kept any of your old toys, dolls, and playsets, you may be in luck. Some of the old toys that are now considered vintage might be worth more than you think. Hereâ€™s how you can tell an old toy from a collectible worth insuring.
Generally speaking, vintage toys that were made in small quantities often bring a higher value than those which were mass produced. That means that if you own one of the 2,000 royal blue beanie baby elephants, you might have something valuable on your hands (worth around $5,000).
- The older the better
Just because you have a toy from a few decades ago doesnâ€™t mean that it is instantly valuable. An antique toy worth insuring shouldnâ€™t be something that can be made today. To date an antique toy, check the patent, makerâ€™s mark, or country of origin mark on the toy.
- Condition counts
In the world of antiques, mint condition is ideal. This means that the toy is still in its original box with the instructions and has never been opened. Mint condition toys are worth much more than those that have been used, played with, and show wear and tear.
- Expert restoration
If something in your collection needs to be restored, be sure that an expert does it. Someone who understands the product, material, and value of the piece is more likely to do a better job at restoration. Normal wear and tear is generally acceptable, but keeping your collection in working and aesthetically-pleasing condition is critical to retain the value.
- The value may be in the eyes of the beholder
Some people value vintage toys for their monetary worth, some for their charm, and some for their nostalgia. That said, beauty is in the eye of the beholder. Not every toy you cherish will be of value to others. Your best option is to collect what you enjoy, whether or not it holds monetary value.
With a valuable collection comes the need to secure reliable insurance. A reliable policy can protect your high-value collection as it grows, giving you the peace of mind that you have a financial safeguard in place should the worst happen. To get started on your tailored coverage, contact the team at CAV Insurance Agency. We serve collectors in Dover, Needham, Brookline and surrounding cities in Massachusetts.Â Give us a call onÂ 781-237-4107Â to get started!