One careful owner may sell for $1m

THOUSANDS of tiny, brightly painted model cars and trucks could amass their owner a small fortune when they go under the hammer later this year, auctioneers said today.

The “phenomenal” set of 3,500 Matchbox toys, the product of years of careful collecting by an American doctor, could raise up to a $1 million (€630,000) when they are sold in Middlesbrough in September.

Vectis Auctioneers said the owner, Dr Scott D Gillogly from Atlanta, gathered “the most comprehensive collection ever to be sold and which may never be equalled”.

Dr Scott said his interest in the model vehicles had begun as a child and “this was renewed several decades later and like all collectors it is the memories of simpler times, coupled with the collecting mentality, that led to a reinvigorated assembly of my extensive collection”.

Andrew Reed, who is collating the toys for Vectis and flew to Atlanta to pick them up, said Dr Gillogly wanted to sell the toys in Britain because they would generate higher prices.

He said Dr Gillogly collected the models in wealthier times.

“He just feels now that the chase is over and he has collected as many variations as he can,” he said.

“He is coming towards his mid-50s and he just wants to sell them and enjoy the money.”

Mr Reed said models Dr Gillogly had collected were “exceptional” with some versions worth thousands of pounds.

One item, a rare green and yellow No 13 wreck truck model, is estimated to fetch between £4,000 (€5,000) and £6,000, whereas a more common version of the same number would be worth just £70.

He said in some cases the pristine model boxes would be worth more than the toy it housed.

The credit crunch has yet to affect the sale of valuable toys, added Mr Reed.

“Over the last 10 years you have probably seen 10% to 15% average growth each year, so you get a big return.

“You would never make that kind of money in the bank.”

The toys will be auctioned in three parts on September 16 and 17 this year.