For many people, collecting is a sentimental effort. For others, it’s a business investment. Regardless, collecting items can impact local communities. Due to online trends and locals sharing their collections, the market for old collectibles has increased in value and is expected to rise further into 2030.
According to a market analysis report from Grand View Research, the “global collectibles market size was estimated at $294 billion in 2023 and is projected to reach $422 billion by 2030, growing at a compound annual growth rate of 5.5 percent from 2024 to 2030.”
The collections reported in the analysis included old and rare coins, Barbie toys from the ‘80s and ’90s, figurines of popular celebrities like Michael Jackson, NFTs and more.
The influence of pop culture and media was a major driving factor in this market’s rapid rise, but nostalgia was also reported to have an impact on the numbers.
Toy company Mattel and its Hot Wheels line of toy cars have a rich history. They also have many long-time fans who find passion in collecting the nostalgic cars.
Nicholas Schaeffer, a local of Batesville, Indiana, is a member of the Red Line Club (RLC) and has been collecting Hot Wheels cars for about five years.
“This guy named Elliot Handler, who was the co-founder of Mattel, was inspired by the line of Matchbox cars and seeing his kid play with the cars, so he decided to create something faster and cooler, and that was Hot Wheels,” Nicholas said.
He and other collectors hunt for what are called “treasure hunt” or “super treasure hunt” cars, with one in every 72 cases sold being relatively rare to find and worth up to $300.
Nicholas has been a part of the RLC for two years and has the opportunity to create custom cars that Mattel will produce in the near future. The club holds a majority vote online about color, wheel type and body type for new models. Mattel will make that item from the vote.
His Hot Wheels collection began with several cars his father gifted him and has grown ever since. Nicholas passes down his collections to his daughter and nephews, who pass them on to their friends at school, keeping the nostalgia of Hot Wheels alive.
“If you take care of your items, you’re going to tend to pass that on to your children, and them seeing you take care of your things will make them want to possess the same collection or values that their parents may have,” Nicholas said.
Other items, such as vinyl records, are known to be passed down through generations and among friend groups, and collections are experiencing a recent surge in popularity.
According to the Recording Industry Association of America (RIAA), in 2024, physical music mediums reached 1.8 million units sold, a 105 percent increase from the previous year.
Derrick McNelly, owner of Record Parlor of Muncie, has only been in business in Downtown Muncie since July, but said he sees numerous collectors, art lovers and music fans daily. The customer age range spans from young adults to retirement-aged individuals looking to rebuild lost collections.
“It’s been cool to talk to different people and get a sense of what their collections are like, what things they’re hunting for, you know, or when they get really excited because I have an album they’ve been looking for for a long time,” Derrick said.
Derrick dreamed of opening a record store for the past 10 years. His family used to listen to records together while doing activities like playing pool, and his personal collection began when he attended a Mississippi Valley Blues Society music festival in Iowa. He asked his father if he could buy a Jimi Hendrix album, and his father ecstatically encouraged him.
The store primarily sells used records from the ’60s to ’70s, including rock, punk and jazz. However, newly released records by artists like Geese are also frequently sold to the clientele.
The RIAA reported that “revenues from vinyl records grew 7 percent to $1.4 billion – the eighteenth consecutive year of growth – and accounted for nearly 3/4 of physical format revenues.”
Derrick notes that something like music is bound to create connections, no matter the format.
“Music is just something that brings people together in general … you don’t have to even understand a language that music’s in to get something out of it. It’s pretty universal in that sense. Inherently, anything related to music is going to have some sense of community,” Derrick said.
Having a sense of community can be as small as collections being shared among family members, even if those collections are large.
Hannah Jackson, a third-year Ball State University student studying biology with a concentration in zoology, has several collections. She collects solo character comic books, Disney pins, teacup sets and more.
She began collecting around five years old, and her collection started with Pokémon cards and Disney pins. She has a notable collection of cards with the penguin Piplup, and she has comic books of Poison Ivy, Nightwing, Squirrel Girl and other superheroes.
Hannah’s mother is the main support and drive behind some of her collections, such as her comic books and pins, and frequently helps Hannah and her brother refine their collections.
“She’s very supportive of anything that my brother and I are interested in and she’ll take the time to be in the know of when new stuff for it is coming out,” Hannah said.
When the family goes on trips, they will even hunt together for things to collect. Hannah got the opportunity to trade pins with members of the Disney park cast when her family vacationed at Disney World
Hannah emphasized the joys of talking to people with or without her same interests, and how collecting things reflects her own personality and values.
“It’s this physical manifestation of something that I love and I just really treasure it. It makes me feel connected to all these things that I care about, and the different parts of me that are reflected in those things,” Hannah said.
The experiences gained from beginning and growing collections are an essential aspect of the process. Friendships found in groups working toward a bigger cause, finding personal value in antique items that tell stories of the past, and family and friends supporting each other’s interests make collecting a worthwhile passion for many.
This article is a part of Ball Bearings Fall 2025 magazine: The Archival Edition. Read more stories online at ballbearingsmag.com and pick up the print edition of the magazine across Ball State’s campus now.
