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Whether due to clever marketing, consumer-OCD, an innate "cuteness" factor - or a combination of the above - we are annually treated to the spectacle of shoppers scuffling over the season's must-have toys. Who could forget the news reports back in 1996 of people willing to pay up to $1,500 for Tyco's $28.99 Tickle Me Elmo doll?
Maybe it was just another instance of "irrational exuberance," but just how are those vintage Elmos faring today? Those 1996 Tickle Me Elmo dolls are typically selling online for LESS than originally priced, even when described as NIB (new in box). And recent online auctions of the new 2007 TMX extra special edition Elmo are slow. (It's hard to compete with Wal-Mart's $19.97 retail price, and as of this writing - just days before Christmas - it's in stock.)
Vintage Cabbage Patch Kids have fared somewhat better. Created by art student Xavier Roberts in 1976, the original dolls were made entirely of cloth and sold under the "Little People" logo. Actually, in a stroke of marketing genius, Roberts did not sell his Little People. Instead, people paid an "adoption fee" (generally about $40) for which they were granted parental rights and provided an individualized "birth certificate." Those Xavier Roberts signed originals are now worth up to several hundred dollars each.
In 1982 Coleco acquired the license to market the dolls. The name was changed to Cabbage Patch Kids and the composition of the heads changed from cloth to vinyl. "Adoption" fees were under $30, but Coleco misjudged demand for the Kids, and when they disappeared from store shelves well before the holidays, prices on the secondary markets skyrocketed.
Today, most online auction lots of Coleco Kids remain unsold, though there appears to be a market for the 1982/83 Coleco dolls when accompanied by their original packaging (NIB again!), and those available online have been selling in the $200 to $500 range. Also generating tidy profits are some of the rarer black dolls, foreign editions, and Kids with unusual coloring or clothing.
Interestingly, the Garbage Pail Kids series of sticker cards issued by Topps beginning in 1985 to parody the Cabbage Patch Kids are in much greater demand. The 1st and 2nd series (1985) are quite valuable, with individual cards selling for up to $3 each, while complete boxes of 48 packs sell for $1000-plus.
Tamagatchi virtual pets, Polly Pockets, Furbys, Bobble Head dolls - the list of fad toys keeps growing. As investments, their futures are uncertain, but they're fun fads while they last, and isn't amassing a collection more about personal satisfaction anyway?
If you'd like to learn more about these collectibles, the following resources are recommended:
Books
"Cabbage Patch Kids Collectibles: An Unauthorized Handbook and Price Guide," by Jan Lindenberger and Dixie McLaughlin
http://tinyurl.com/29ss28
"Encyclopedia of Cabbage Patch Kids: The 1980s," by Jan Lindenberger and Judy D. Morris
http://tinyurl.com/267g68
"Encyclopedia of Cabbage Patch Kids: The 1990s," by Jan Lindenberger and Judy D. Morris
http://tinyurl.com/247rne
"The Encyclopedia of Non-Sport & Entertainment Trading Cards Volume 1: 1985-2006," by Todd Jordan
http://tinyurl.com/23vnqo
"20th Century Pop Culture," by Dan Epstein
http://tinyurl.com/2yhftd
Websites
The Bad Fads Museum
http://www.badfads.com
Covers all kinds of fads from the last 100 years.
Cabbage Patch Kids
http://www.cabbagepatchkids.com/home.htm
This is the official website of BabyLand General Hospital ("birthplace of the Cabbage Patch Kids) founded by Xavier Roberts. Collectors Club, history, news, more.
Crazyfads.com
http://www.crazyfads.com
Decade-by-decade lists of fads beginning with the 1920's up to present.
Tamagotchi Planet
http://www.mimitchi.com/html/tindex.htm
FAQ's, chat, links, more!
Wayne's Garbage Pail Kids References
http://www.wgpkr.com
FAQ's, links, fakes, message board, price guide
http://www.wgpkr.com/GPK/PriceGuide
Really nice charts describing card grading - centering, corners, creases, flaws.
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