Is the diecast market in trouble?

Posted by: @100ford2003

Posted by: @georgeschire

Posted by: @100ford2003

Posted by: @georgeschire

Posted by: @chris

Posted by: @georgeschire

I've yet to totally understand fully why here in America we can't put a decent 1:24 scale model out at a reasonable price.  The models don't need every "working part" and "key's" to go with it, just a nice somewhat "static" model that we as collectors can add to our shelves.

In order to mass produce decent 1/24 scale models at reasonable prices one needs to utilize "cheap labor,"  which doesn't really exist in America.  Resin static models are less expensive to produce, but there's no mass market for them, which equates to high MSRP.

The successful business model incorporates high mass-market demand, cheap labor, low tooling costs.  Three conditions that rarely add-up in America when one is discussing hobby items (scale models ).  We can find American examples that satisfy one or two of these conditions but RARELY all three.

1/24 & 1/25 scale PALSTIC unassembled models seems to enjoy world-wide popularity, but I'm not so certain that can be said for ASSEMBLED resin or diecast 1/24 & 1/25 models.

I'd be delighted if we could have models in 1:25 scale that were available in the 1950's and 60's that were known as "promotional models".  They were plastic with no opening doors, hood or trunks.  Usually they had interiors and sometimes a "friction" motor.  Back in that era they sold for anywhere between a $1 and $3, which in todays dollars would probably equate to around $25 (or so).  If they produced them, I'd be all over them.  I'd like to think that they wouldn't have high costs involved to produce them.  

I I loved all those models. I acquired a lot of my painting skills by detailing the chrome trim around the windows and other parts of the body that weren't molded in silver or chrome color. 

Steve 

Unlike you, I was never able to master "painting skills" on those plastic models, but I sure enjoyed having them as a kid in the 1960's.  I probably shared this before here on one of the Forum's, but will mention again that from age 8 until I was 19 years old, I acquired 61 different promotional model cars. 

I had them on a shelf that hung on a wall in my bedroom.  Even though 61 models wasn't a huge collection, it was big at the time for me.  Sadly, in 1971 we had a house fire and those models from the heat of the fire, actually "melted in to the wall".  And oh man, the horrific smell of that melted plastic.  I will forever be sad that I lost those models! 

Imagine my delight when back in late 1989 when I learned about the Mints that produced 1:24 scale diecast cars.  I was thereafter like a kid on Christmas morning whenever a model would arrive on my doorstep.  

George,

I'd say 61 models is quite a decent size collection. I never had that many models at one time. I think the only models I ever had were probably 5 to 10. I used to get one or two for Christmas and then maybe one or two on my birthday but that was it. 

The most special one I remember was the first promo model of the brand new Mustang that got shipped to me.  I think it was $1 or $2 and it came in the mail I was thrilled. The one I had was red and the one that my friend Paul got was kind of a turquoise blue color. 

Steve 

Steve, your comment, "Id say 61 models is quite a decent size collection", made me chuckle while recalling conversations here on the Forum's "what constitutes as small, medium, or large collection". 

I remember one guy posting here on the Forum saying, "I have a large collection of 12 cars", to which another poster responded, "12 isn't a large collection of anything, unless it's kids". 

But those comments and others like them, sparked many opinions as to what is a large collection.  I remember offering that, it's all in the eyes of the beholder.  The guy that had "12 models", has a "large" collection only when compared to a guy who has 2 or 3 models.  However, that same guy with "12 models", has a really "small" collection if compared to someone who has 100 models. 

But it continues, because I personally have 363 models, that when guests see it, they say, "WOW, you have a large collection".  But if my "large collection" is then compared to the collection of our friend Bob Jackman, who has somewhere in the neighborhood of 6000 plus models, then my collection is small.  

I don't remember the number of 1/25 plastic cars I had back in the late '50's & early '60's over 40 at least.

Started collecting model cars again in 2001 when I retired, collected 1:18 until they stopped making the cars I was collecting, so I went to other scales to continue my desire to collect every American 2 door car 1949 to 1972:

1 - 1/10

397 - 1/18

14 - 1/24

1 - 1/32

46 - 1/43

128 - 1/64

= 587 total models collected in 22 years.

1:1 cars owned = 55  1963 - 2022

Posted by: @chav

Posted by: @67gto

There is one area not directly mentioned: the economy. A good chunk of what were discretionary funds may have shifted to pay for necessities. Food, medical, utilities, transportation, and all housing related expenses have been subject to high unyielding inflation. The money has to come from somewhere.

I agree here. Credit card debt is at all time high, the poor are getting poorer. On the other hand, for the more affluent people, savings are encouraged by higher interest rates. For the people who can afford collectibles, inflation alone would stimulate discretionary purchases as money devalue.

Higher interest rates????????

Not here in the UK Chav!

Posted by: @jkuvakas

If you take the time to look at the Hot Wheels community, the folks who are collecting high-end resin models of exotic cars and Japanese cars of recent years (not cars from fifty years ago), those areas are thriving, particularly in the 1/43 and 1/64 scales. This is because the people who grew up in the eighties and nineties are now earning enough to indulge their collecting impulses. They could care less about models of the fifties or even the sixties. To them, all those old cars look the same! Check out makers like Ignition, Make-Up, Eidolon, and some of the other high-end 1/43 and 1/64 manufacturers and see how quickly their limited editions sell out and what they sell for on the secondary market. 

Excellent points John - markets move on and enterprising manufacturers are well aware of this and either they respond or they fade away!

Interesting that Hot Wheels include a diverse range of car culture now and don't just sit on California Customs - one of their latest releases is the Proton Saga which will be a sell out in Malaysia and I will certainly purchase one if I am lucky enough to locate this model on my grocery shopping trips.

Posted by: @chris-sweetman

Posted by: @jkuvakas

If you take the time to look at the Hot Wheels community, the folks who are collecting high-end resin models of exotic cars and Japanese cars of recent years (not cars from fifty years ago), those areas are thriving, particularly in the 1/43 and 1/64 scales. This is because the people who grew up in the eighties and nineties are now earning enough to indulge their collecting impulses. They could care less about models of the fifties or even the sixties. To them, all those old cars look the same! Check out makers like Ignition, Make-Up, Eidolon, and some of the other high-end 1/43 and 1/64 manufacturers and see how quickly their limited editions sell out and what they sell for on the secondary market. 

Excellent points John - markets move on and enterprising manufacturers are well aware of this and either they respond or they fade away!

Interesting that Hot Wheels include a diverse range of car culture now and don't just sit on California Customs - one of their latest releases is the Proton Saga which will be a sell out in Malaysia and I will certainly purchase one if I am lucky enough to locate this model on my grocery shopping trips.

I've looked at the Hot Wheels cars.  TOO SMALL!  For me, anything smaller than 1:24/1:25 scale is TOO SMALL.  My opinion, of course.   

@chris Well Said Chris.

On average, we who are in our 60's, 70's, and maybe 80's are better off financially than at any other time in our lives.  So I want 1:24 scale cars!  I won't speak for everyone in these age groups, but I'd venture a good many of you would prefer the 1:24's too. 

I know it's a personal preference, but I am not attracted to 1:64 or 1:43 TINY cars.  They weren't popular when I was growing up, and generally were "toys".  The 1:24 cars were what we had, mostly as model kits and promotional models and they were all the rage. 

So it's okay if the kids born in the eighties can now afford their Hot Wheels and other "tiny" cars, but what about me/us in that 60's and older group?  Right now, the mints could produce 10, 20, or more 1:24 scale cars on a regular basis and I'd be grabbing them up like they were free. 

But NO, "they've" decided for us, that 1:24 is dead.  BOGUS!!!  If the mints were to produce 1:24 and based on inflation as it is, they could sell for upwards of $200 (or more), and I'd buy them.  I will NEVER believe that they cost to much to produce to secure a profit for the mints.  If they build them, I (and know others) will buy them!  

News from Mini Grid in Toronto, Canada.

Regretfully, after 45+ years in business, we are going to call time on Mini Grid.  Since 1977 Mini Grid has enjoyed sharing our mutual enthusiasm for all things motorsport and the decision has not come lightly.  No excuses or regrets really but… as our world changes… most of the categories that the business has been built upon has seen a steady decline in interest from the younger demographic, making it increasingly difficult as our customer base ages.   It has just become; for some time now in fact; financially unviable to continue.

To all of our friends and loyal customers that have supported Mini Grid over the past 5 decades, a sincere thank you for your support, not just in business but also the relationships and memories that were fostered.  Many good times were had… from the humble beginnings of a new mail order business in the basement of Pebble Hill Square in Scarborough; to the first store front (opened in 1986) in Unionville for 17 busy years when collecting was cool and at it’s peak; to the last 20 years on Mt. Pleasant where Mini Grid continued to thrive and grew to become the home for Toronto’s slot car racing community.  And, of course, the 40 years we attended every major event at our beloved Mosport (will never call it CTMP… sorry) where we caught up with many of our out-of-town customers from around the world.  Great times.