Summary

• Hot Wheels started in 1968 to rival Matchbox with custom, detailed cars inspired by California hot-rodding culture.
• The Redline series first included the Custom Camaro in 1968, later introducing the first racetrack set as an accessory.
• Hot Wheels evolved from just toys to a highly valued empire for collectors, with some rare cars fetching five figures.

Hot Wheels as a brand came into existence in 1968 when the founder Elliot Handler, also the co-founder of Mattel, got the idea of creating a competitor to Matchbox toy cars. The creator's vision was to get a one-up on Matchbox by creating custom and more detailed cars, taking inspiration from California's hot-rodding culture, which was at its cusp in the late 60s and early 70s. The cars would have big wheels, big exhausts, and even superchargers, in tune with the trending auto culture at the time.

The very first line-up of Hot Wheels came to be known as “The original Sweet 16” but officially known as the "Redline series" for the red pinstripe on the tire sidewall. The first Hot Wheels toy car released was the Custom Camaro, which went on sale on May 18, 1968. But, the real stroke of brilliance that sealed Mattel's fate in the market came with the introduction of the first racetrack set, which was a separately sold accessory.

The oval-shaped, orange plastic molded track came with “superchargers”, which were battery-powered rubberized spinning wheels, made to resemble petrol stations. These superchargers would accelerate cars passing through it, giving rise to one of the most successful and longest-running lines of toys in the world.

Now in the modern-day, Hot Wheels is no longer just another brand that sells toys. Over time, it has morphed into a highly sought-after empire for serious collectors. Some rare and well-preserved examples can easily fetch five-figure sums or more. So let's look at some of the most expensive Hot Wheels of all time.

“Fun Fact: Elliot Handler and his wife Ruth Marianna Handler created Hot Wheels and Barbie Dolls respectively, two of the most famous and profitable, range of toys in the world.”

UPDATE: 2024/02/17 12:00 BY Jarro Cabañes

Hot Wheels has been a popular toy brand for a while and has been fueling the passion and dreams of young automotive enthusiasts from a very young age. Just like with real cars, Hot Wheels models have gained a following of collectors who are just as passionate as collectors of 1:1 scale cars. Because of this, we have updated this piece with five more highly after Hot Wheels cars.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various authoritative sources, including Mattel Car and Drive fr estimated values.

10 1970 Red Baron (White interior)

Estimated Value: $7,500

Obscure objects are great at catching the attention, and that is just what the Red Baron was. Beginning as a plastic model kit by Monogram, it was then built into a full-scale show car in 1969 before Hot Wheels created their 1:64 scale of the vintage hot rod in 1970. Designed by Howard Rees, the Red Baron was painted in a bright candy-tone red finish that Hot Wheels called “Spectraflame”, and was produced in significant numbers until 1977. However several examples from the original run came with a white interior instead of the more common black color.

Highlights

• Very unique white interior
• Turned into a full-size show car
• Crazy unique design

These white interior examples are known to be particularly rare, with only a handful of examples known to exist. Hot Wheels sold a retooled version of the Red Baron from 1993 to 2012 demonstrating its popularity, yet it doesn't compare to the 1970 white interior version that is estimated to be worth $7,500 and is recognized to be the fifth-rarest Hot Wheels ever made.

9 1969 Brown '31 Ford Woody

Estimated Value: $8,000

The Woody is a well-known model on the Hot Wheels roster. Based on a Ford Model A, the Hot Wheels model is designed as a hot-rodded station wagon version displaying a flat-head V-8 and was made in various “Spectraflame” colors. But the brown painted examples stand out to collectors and are believed to be a prototype of the now famous Ford Woody.

Highlights

• Variety of small differences through the years
• Flat-head V-8 on full display
• Side exit exhaust design

The more common variations of this particular model, designed by Ira Gilford, came in a wide range of Spectraflame colors, from green, red, orange, and even a unique hue called “Antifreeze”. There were some differences throughout the years. Roof finishes varied and some changes with the exhaust design being a few of them. The rarest of the '31 Ford Woodies are ones that were finished in brown, with only a handful believed to exist valued at $8,000 each, aside from the prototypes.

8 1970 Ed Shaver Custom AMX

Estimated Value: $10,000

American Motors Corporation debuted the AMX as a muscle car that had its sights set on the Chevrolet Corvette for a bargain. This made the AMX a two-door, two-seater hardtop and only came with V-8 engine choices, which made its intentions clear.

Highlights

• Practically a U.K. freebie in a period
• Scale model of a real drag racer
• Sold with a decal sheet included

The Custom AMX is another Hot Wheels designed by Ira Gilford that was popular in 1969. They came with a white interior, silver-painted redline wheels, and later, chrome “capped” redline wheels. The AMX was only made in the United States and was made in several different colors, including aqua, blue, and yellow. And while salmon and antifreeze are the rarest colors for the Hot Wheels AMX, the Ed Shaver liveried version is considered to be the rarest.

The blue AMX was packaged with the U.K. Racing Car Series cards and came with a decal sheet to mimic Ed Shaver's AMX British drag car and was the only real difference compared to the other Hot Wheels AMX versions. Because of its rarity, the Ed Shaver Custom AMX, priced at $10,000, is considered to be one of the most valuable Hot Wheels today.

7 1971 Purple Olds 442

Estimated Value: $12,000

Just like in the automotive world, a different color or specification can command higher prices in the collector car market. And that's also the case with the Hot Wheels Olds 442, particularly the purple Spectraflame examples, which are considered to be the most desirable of the versions that were made. Designed by Larry Wood, the Hot Wheels Olds 442 was sold only in 1971 and was based on the 1970 Oldsmobile Cutlass 442 sporting the W30 factory option.

Highlights

• W30 specified the 1970 Cutlass scale model
• Unique purple color
• Hot Wheels model is just as iconic as the real thing

The factory option included a fiberglass hood with functional hood scoops, a rear spoiler, and a power bump to 370 horsepower. The Hot Wheels version of the Olds is considered to be the rarest model included in the highly sought-after Mainline series of the toy company. With the purple color being the most unique, it allows even poor-condition examples to command high values, $12,000 to be exact, due to its rarity.

6 1969 Brown Custom Charger

Estimated Value: $13,000

The Hot Wheels Custom Charger is a 1:64 scale model of the 1969 Dodge Charger powered by the infamous 426 Hemi engine. Produced from 1969 to 1971, and subsequently, a retooled version was released for a single year in 2008. The Hot Wheels version featured the Hemi engine underneath an opening hood and black-painted headlight grills just like the real '69 Chargers.

Highlights

• Pre-production prototype model
• Features the 426 Hemi engine
• Opening hood

Like several of the rarest Hot Wheels cars, the Custom Charger was designed by Ira Gilford and came in a variation of colors. Green, blue, gold, red, and lime are considered to be the most common colors, all with white interior color, orange/red painted tail lights, and clear windows. The most valuable examples of the Hot Wheels Custom Charger are the examples painted in brown and are considered to be pre-production prototypes only three are known to exist and are estimated to be $13,000 each in the collector market.

5 1970 Mad Maverick Base

Estimated Value: $15,000

Prototypes can be rare, especially if it’s rare Hot Wheels from the early days that never made it to production. The 1970 Hot Wheels prototypes with Mad Maverick engravings on the base were being created to challenge a competing brand.

Highlights

• Ultra-low numbers
• Unique story about its name
• Unique base markings

Allegedly, only four cars got this base, out of which two are in blue, one purple, and another unassembled and unpainted. Designed by Howard Rees, the car was based on the 1969 Ford Maverick but due to copyright issues, the name was changed, making the handful of early examples some of the rarest and most desirable Hot Wheels models. The rest of the cars from this line-up finally were renamed “Mighty Maverick” and stayed in production till 1977. These prototype Mavericks are reportedly valued at $15,000; quite a significant amount.

4 1968 Over Chrome Camaro

Estimated Value: $25,000

Hot Wheels were always big on commercials and promotions, which is what gave rise to these rare models. The Over Chrome Camaro hailed to the 1968 collection and is yet another product that owes its exclusivity to production issues at the time.

Highlights

• Prototype model
• Used for early Hot Wheels commercials
• Very limited production numbers

As the name suggests, the Over Chrome series stood out for its high gloss, chrome-like paint finish intended to make them stand out from other models, and the antifreeze 1968 Chevy Camaros that got this treatment was intended to be prototypes used for commercials. As a result, only 20 units were produced, making them extremely rare and a highly sought-after example. The private collectors, who did eventually get their hands on one of these, are sitting on a fortune, as a well-preserved example can fetch up to $25,000 according to experts.

3 1968 Over Chrome Mustang

Estimated Value: $40,000

The 1968 Over Chrome Mustang is a similar specimen to the aforementioned '68 Camaro, only rarer. This Mustang also started life as a prototype intended solely for making appearances in commercials. While the Mustang, in general, was a popular Hot Wheels product, only 16 examples were produced in 1968, the rarest of which is a gold chrome version only two of which are known to exist including a rarer “watermelon” colored example owned by Collector Ralph Antone.

Highlights

• Prototype only intended for commercials
• Extremely rare 1968 model
• Tinted windows

To add to that, the attention to detail these examples received was also a notch above the rest with its pop-up hood with a detailed engine and tinted windows, a rare combination for any Hot Wheel product. This is the primary reason for its $40,000 valuation making this the holy grail of Hot Wheels Mustangs.

2 2008 Diamond-Encrusted 40th Anniversary Special Edition

Estimated Value: $100,000

Here it is, we have finally touched the 6-figure mark and this one is as special and unique as they come. The Custom Otto is perhaps the most “over the top” Hot Wheel in existence. This one-off example is conservatively appraised at over $100,000 and for good reason. Created to commemorate the brand's 40th anniversary and a celebration of the four-billion Hot Wheels sold worldwide, it was showcased at the 2008 New York Toy Fair.

Highlights

• 40th Anniversary model
• Studded with 23-carat diamonds
• Rubies for tail lights

This hand-crafted example is cast in 18k white gold and includes more than 2,700 diamonds that weigh nearly 23 carats in total. The attention to detail is phenomenal, even the taillights are carefully placed rubies, and it even comes with a custom-made diamond-encrusted case. Initially, the car sold at an auction for $60,000 but at the time some sources valued it at $140,000, so the current $100,000 valuation makes this a bargain of the lot in some respects.

1 1969 Pink, Rear-Loading VW Beach Bomb

Estimated Value: $175,000

We have finally arrived at the holy grail, the final frontier for Hot Wheels collectors, the Pink, Rear-Loading Volkswagen Beach Bomb from 1969 that costs more than most high-end sports cars. The real reason this humbly hot-rodded little Microbus is so rare is that after making only two models, they realized that the surf-boards that were sticking out of the rear windscreen threw the back off balance and the pink color, which is the rarest of the bunch, was done in a bid to appeal to young girls, who at the time weren't the target demographic for Hot Wheels.

Highlights

• What's cooler than a VW Microbus with surfboards?
• Pink spectra flame paint to appeal to girls
• Featured on Pawn Stars TV show

This particular example was also appraised on an episode of the famous TV series Pawn Stars at $100,000 but since then, experts reckon that the value has gone up significantly, which brings us to the current figure, which stands at an unprecedented $175,000. Currently, this pink masterpiece is a part of the world's most valuable Hot Wheels collection in the world, owned by Bruce Pascal seen in the video above, whose private collection is worth millions.