In this article we're going to discuss exactly what determines how rare a collectible doll is and how its value is determined.

Collectible dolls are a strange paradox. The reason that dolls are collectible is because back when they were new, they weren't.

How many times have you heard a friend say something like, "I had one of the very first Barbie Dolls. If I had kept it I'd be rich right now". Well, the truth of the matter is, if every girl who bought a Barbie Doll back in 1959 when they first came out had kept it in its box and never played with it then none of these dolls would be worth anything. The reason Barbie is worth so much money is because back then little girls bought the dolls, took the dolls out of their boxes, played with the dolls and ultimately tossed the dolls in the garbage or gave them away either when they became too old to play with them or the dolls themselves simply just fell apart from use.

So an early doll that has become as popular as Barbie has become, if found in its original box and unopened, which is pretty unlikely, would get a lot of money at an auction. How much money? Last figures for an early Barbie doll are estimated at about $2,500. This is actually down quite a bit from the heyday of collectible selling when you could get close to $10,000 for a series 1 Barbie Doll from 1959. We have since come back down to reality.

But is this reality? The early Barbie Dolls sold for a few dollars. How can something that sold for a few dollars be worth thousands today? Well, it all comes down to supply and demand. If something is low on the supply side and enough people want it then the price is going to skyrocket. And for whatever reason, people love old things, the same old things that they used to throw away.

But it isn't just old popular dolls that are worth money. They may be rare because there aren't a lot of them left around. But some dolls are rare and worth a lot of money because there were never very many of them to begin with. While maybe not as many people would be interested in these dolls because they weren't that popular to begin with, the die hard collectors still go crazy over these items. So a collectible doll like 1967's Mike Hazard, Double Agent, will still bring in about $1,500 in an auction if unopened in the original box. Why? Because finding one of these is as unlikely as finding life on Mars.

Of course not every old doll brings in thousand dollar price tags. If the doll was in great supply but for some reason never caught on at all then most likely the doll won't be worth much today. In the case of Mike Hazard there just weren't many made to begin with.

There are those who will argue that this whole collectible craze is just that, crazy. And then there are those who's lives wouldn't be the same without this stuff as many people actually have built businesses around buying and selling collectibles. As they say, one man's peanut butter is another man's lobster tail.