Hess Toy Trucks Still Rolling Along After Over 50 Years

NOTE: This week marks the seventh anniversary of this blog. It also marks a milestone in readership with over 125,000 views. To commemorate both events, I'm presenting an update of my very first post on Hess Toy Trucks.

QUESTION: I want to buy a Hess toy truck for my son for Christmas. I saw an ad for the newest one on T.V. which said I could buy them online. Aren’t they being sold at local Hess gas stations anymore? I remember my first Hess truck. I played with it until it literally fell apart.

ANSWER: A lot has happened since you first received your first Hess truck for Christmas. In fact, a lot has happened to the company in the last three years. The Hess Oil Company has undergone some major changes, the biggest being the selling off of all of their gas stations to Marathon Petroleum. These are set to become Speedway stations by the end of 2017. So naturally, Hess trucks won’t be sold there anymore. Instead, Hess Oil has set up a special Web site to sell its latest truck.

Hess sold its toy trucks online for the first time in 2012, hoping to reach out-of-town customers who didn’t reside near one of Hess’s East Coast gas stations. Last year, it sold them online and at select malls. This year marks the first time that Hess will sell the trucks exclusively online.

Starting in 1964, the Hess Oil Company wanted to thank their loyal customers by making small replicas of their trucks as a token of appreciation for their business throughout the year. The company was the first one to manufacture toy trucks that had working lights and sound.

The Hess toy trucks, helicopters, police cars, airplanes, space shuttles and rescue vehicles have been popular Christmas gift traditions for over 50 years. In fact, it’s one of the longest running toy brands on the market.

Because the company produced these trucks in limited quantities, they limited each customer to two of them. That first truck sold for $1.29, and today can sell for over $2,500. Over the last 20 years, the value of some of the older Hess trucks has doubled.

Hess periodically has a rare truck such as the 1995 chrome truck with helicopter and the 2002 chrome Mini, which the company gave away at a stockholder meeting. In  2006, it gave a special truck to New York Stock Exchange employees to commemorate its name change from Amerada Hess Corporation to Hess Corporation.

However, more than half the value of each truck depends on the condition of its box. If the truck, itself, is also in perfect condition, then it’s considered to be “MIB” or “Mint-in-Box.”  Most people have trucks they bought to give to their kids for Christmas. Unfortunately, their children played with the trucks and now they’re worth a fraction of the mint ones.

Plus values of these toys tend to fluctuate, depending on who’s buying them. While dealers pay the lowest amount and then double it to sell them, some collectors will pay just about anything to get the truck they want. In fact, one collector drove four miles to meet a woman in a rest area on an Interstate highway just to look at a truck she had for sale. But true value of a truck is whatever anyone is willing to pay for it.

While the first trucks were tankers, succeeding ones ran the gamut from transports to fire trucks and car carriers.  In 1966, Hess deviated from its line of trucks by producing an ocean-going tanker, based on the Hess Voyager, a patrol car in 1993, a helicopter in 2001, an SUV in 2004, and a race car in 1988, 1997, 2009, 2011, and this year, 2016. but it wasn’t until 1993 that the company offered a police car and in other years sold a helicopter carrier and monster truck. In recent years, boxes have contained one larger vehicle transporting smaller friction-motor vehicles, such as motorcycles, race cars, or cruisers.

The 2016 Hess Toy Truck and Dragster is a powerful, race-ready duo with sleek styling, drag-racing inspired sounds, over 50 brilliant lights, and an innovative design for wheelie-popping action. The truck is a mighty motorsport flatbed designed to transport the dragster to any racing event. Styled with a solid green lower body and green-accented white upper body, it’s loaded with chrome detailing including a front grill, sunshield, side panels, and exhaust pipes. The cab houses four top-mounted buttons that activate three realistic sounds—horn, ignition, and a race launch countdown, as well as the headlights, tail and running lights. A hidden ramp with slide-activated hydraulic sound ensures this duo can quickly get to the next dragstrip.

The oversized dragster is the largest accompanying race car in the fleet’s history. Its innovative pull-back motor and tilt-activated weight transfer design allows the speedster to launch in either a flat or wheelie position. The racer features super bright LED headlights, a stylish spoiler, and chrome detailed hood-mounted air intake, side exhaust pipes and rear parachute box.

Because Hess toy trucks didn’t gain mass popularity until the 1980s, those few collectors savvy enough to pack one away in its box without touching it are the only ones who can cash in on the higher values of Hess toy trucks from 1964, when they first came out, through the 1970s.

The Hess Toy Truck is one of the longest-running toy brands on the market. However, the price has gone up considerably from that first truck selling for $1.29 in 1964 to $31.99 for this year’s truck and dragster.

Remember, unless a Hess truck is an early model and still new in a pristine box, it has little value. Unfortunately, the market for Hess trucks has been flat for several years, so selling all but the oldest trucks will be a challenge.

Looking for Value in All the Right Places

QUESTION: I’m a novice at putting value on furniture and other old things. Can you tell me the best way to do this?

ANSWER: Putting a value to an antique or collectible isn’t as simple as black and white. Finding out about the value of an object involves several steps.  First you need to authenticate it—that is, find out if it’s real or fake. Then you need to determine the value you want to research. And if you discover that you have something valuable, you need to consult a certified antiques appraiser.

While there’s no fixed value in antiques and collectibles, there are two types of value you need to consider—replacement value and retail value. Which type you need to research depends on whether you’re planning keep or sell the object.

If you’re keeping it, you want to find its replacement value. Replacement value is the retail price you would pay to buy an object that’s identical to the one you own. Though that sounds simple enough, it isn’t. The object has to be exactly the same, including its condition. Then you’ll have to purchase it from the same type of source—an Internet antiques store, eBay, an antiques shop or show, or flea market. The retail price of the object will be different at each of the venues. So, unless you purchase it at exactly the same type of sales outlet, you may have a problem.

In the end, you’re the one who determines which price applies. Most beginning collectors use the highest price. While this may boost your ego, this may not be the best value. What about averaging all the prices? That won’t work, either. You’ll just have to consider the most likely place to which an average person might go to purchase the item.

Traditionally, insurance companies have considered the retail price asked by a dealer at an antiques show or at an antiques and collectibles mall as the replacement value. But, let’s face it, who pays the asking price? Smart collectors don’t. The object is to buy pieces at the lowest price possible, so that they’ll gain value right off. A lot of novices are turning to eBay to determine the replacement value. But this isn’t good, either. Any of the auction sites are just that—auctions. That means that buyers bid against each other, often sending the price higher than it should be. If you’re going to use eBay to determine value, you’ll need to study several months worth of pricing data.

If your goal is to sell your object, the price varies depending on retail venue. Traditionally, people sell items through garage sales, flea markets, eBay, and antiques shops and shows. You’ll need to research the potential value in all those categories. Each one has hidden costs, so the price represents only a portion of the amount paid. Auctioneers charge a commission to sell objects. Antiques dealers have to mark up their wares to make a profit. Flea market dealers have to do the same, albeit not as much, to make a profit over space rental fees. Ebay sellers have to add on numerous fees. Only garage sale sellers can charge the least amount and still make a profit. If you base your object’s value on their pricing, you’ll never get anywhere, even though some price their items based on what they see on eBay.

About the only way you’ll get the full value from an item is to sell it privately. However, while private buyers will pay the highest amount, they have to want the object. Most private buyers have been collecting for some time, so the list of what they want is usually short. Most of the time, they’ll already own the item. Further, finding a private buyer is a time consuming and difficult process. The best example is trying to find a buyer for collectibles from the 1939 New York World’s Fair. While there are certainly many collectors of these souvenirs, finding them is another story.

Hess Toy Trucks Roll On

QUESTION: What is the best way to sell a 1966 Hess Voyager Tank Ship? And how do I figure the asking price?  The tanker is in the box which is slightly faded and has some damage to two of its corners, plus one of the stickers on the side of the tanker is torn.

ANSWER:  It’s Thanksgiving time once again and along with Black Friday comes an equally long-standing tradition—the sale of Hess toy trucks. But the poor economy has most everyone watching their pocketbooks, so even Hess Toy Truck sales, both of previous models and the newest one are suffering. T.V. ads touting the features of Hess’s new truck toy prompt many owners to perhaps dust off older models in preparation for selling them.

But selling Hess toy trucks isn’t easy. The group of true collectors of these toys is a small, very selective one. These are people who are searching for the premier pieces to fill out their collections. One of these prime models is the “B Model Mack Tanker,” which first appeared in 1964. At first the company produced these toys in limited quantities and limited each customer to two trucks. Back then the B Model Mack cost $1.29, but today it can sell for as much as $2,000, down $500 from two years ago.

Leon Hess knew a good thing when he saw it, and soon the company produced more trucks to meet the demand, including a series of minitrucks. For many years, people lined up at Hess Stations on Black Friday morning to get their hands on the coveted toy “truck” of that year, then last year, the company started selling their trucks a week ahead. This year, sales began on November 11, two full weeks ahead. But popularity killed their potential and resale prices fell.

Because Hess toy trucks didn’t gain mass popularity until the 1980s, those few collectors savvy enough to pack one away in its box without touching it are the only ones who can cash in on the higher values of Hess toy trucks from 1964, when they first came out, through the 1970s.

More than half the value of each truck depends on the condition of its box. If the truck, itself, is also in perfect condition, then it’s considered to be “MIB” or Mint-in-Box. Those who saw the collecting potential of these toy s bought two, giving one as a gift to their child and keeping the other in pristine condition for their collection.

Probably the best place to try to sell the tanker in question is on eBay. This saves a lot of searching for markets—let the collectors search for the models they want. However, most Hess trucks sell on eBay for about $20, around the price of a new truck since 2000 or so.
In one case, four of them, listed for a starting bid of $9.99 on one auction with $21 shipping—twice the cost of the trucks themselves—didn’t even sell. Unless a Hess truck is an early model and new in a pristine box, it has little value.

Hess trucks were one of the first toy trucks to have working lights and sound operated by batteries. The first one came in three different versions. The rarest of these was a Bills 18-wheel tanker with a white top and the Hess logo with a yellow border placed over the Bills logo. The side decals on this model display only the word "Gasoline", its battery card has printing on both sides, and the bottom of its box is black. The most common version features a green cab with yellow fenders. A similar version of this tanker truck appeared in the late 1960's, 1970's and 1980's, but the tank is green, with a white strip, displaying the Hess name, down the center. The tanker then returned in 1990 with a white tank, with the Green "HESS" name on the side. Hess introduced another version of this white tanker truck in 1998 as the first in the Hess mini series.

Leon Hess, founder of Amerada-Hess Oil, originally had these toy trucks made as thank-you gifts to his customers. Some, produced as gifts for stockholders and staff, never went on sale. These are the most highly prized by collectors since only a few of these special trucks were made.

Throughout the years, Hess has offered non-truck vehicles as part of its toy truck collection, including a tanker ship, based on the Hess Voyager, in 1966, a patrol car in 1993, a helicopter in 2001, an SUV in 2004, and a race car in 1988, 1997, 2009, and this year, 2011. In recent years, boxes have contained one larger vehicle transporting smaller friction-motor vehicles, such as motorcycles, race cars, or cruisers.

For the first time in the collection's 47-year history, the two vehicles in the current set offer sounds and 34 lights in both on and flashing modes, activated by a button on the truck cab, a chassis switch, and the ramp. The newest truck also features four-wheel spring suspension and a pullout ramp that automatically activates a hydraulic sound. The truck's flatbed trailer carries a race car modeled after an American stock car that sports a pull-back racing motor and Hess Express logo. A push of the race car's gas cap activates flashing lights and the sound of the car's engine. The lucky kid who gets this as a gift on Christmas morning will also be able to play with it immediately since the package contains two Energizer 'C' batteries. But the hottest feature of this year’s truck is an app with which a child can virtually race the car online.

The Hess Toy Truck is one of the longest-running toy brands on the market. As in past years, the truck will be sold exclusively at Hess retail stores in 16 East Coast states from Massachusetts to Florida, while supplies last. However, the price has gone up considerably from that first truck selling for $1.29 in 1964 to $26.99 for this year’s truck and race car.

The Quagmire of Value

QUESTION: I just inherited a lovely old armoire from my mother. As we were taking stock of her things, an antique dealer, who had come to look at some other items, told me he’d give me $1,000 for it. I really love the piece and am not considering selling it, but I would like to know its value. Can you help me?

ANSWER: While the answer to this person’s question may sound simple, in fact, it’s far from it. What type of value does she mean–retail value, insurance replacement value, fair-market value, auction value, or cash value? In the end, each of these values will be a different amount. Other factors determining value are age and condition. So where to begin.

Let’s start with retail value. This is the price for which an antiques dealer expects to sell an item after marking it up from the price the dealer paid for it in order to make a profit. This amount can  be anywhere from 20 to100 percent of the dealer’s purchase price.

The amount of money it would take to replace an item from a antiques shop or online if it were lost, stolen, or damaged is called the insurance replacement value.

The price that an item would sell for on the open market between a willing buyer and a willing seller is known as the fair-market value. This is also the value that’s used when an item is donated to a charity or is part of someone’s estate.

And when someone puts an item up for auction, the price that an appraiser feels the item should bring at auction, based on comparison of like items and recent other auction sales, is known as the auction value, but has nothing do with the actual value of the item.

However, being told something is worth a specific value is meaningless if the appraiser doing the appraisal has no knowledge of the item itself or the market for it. And auction prices, such as those eBay are not an indicator of true "worth," since many of these sales prices are inflated many times over in the heat of bidding up an item. And a verbal appraisal is worth nothing without a written one to back it up, especially in the case of settling an estate.

To learn more about how to value your antiques and collectibles, read my article, “What’s It Worth?,” on my antiques Web site, The Antiques Almanac.