Instructions
Determine the condition of the toy. This will have a considerable bearing on its value. Inspect it for wear and determine if any pieces are missing. Sourcing replacement pieces or having them specially made can be costly. If it is a mechanical toy, verify that the mechanism is in working order. If the toy seems to be in good, even pristine, condition, it may be that some restoration has already taken place. If you're considering buying an old toy, always ask the vendor about restoration. There is no hard and fast rule about restoration -- it is welcome in some areas of toy collecting and frowned upon in others -- but it is important to know. A bright finish maybe a sign that a piece has been restored.
If you find an old toy when antiquing, determine if it fits into a collecting category. For instance, there are avid collectors of model automobiles, trains, airplanes, ships and automata -- toys that carry out some mechanical action. These are toys made for older children and are likely to be more valuable than a brightly-colored novelty for young children.
Consider whether the toy has some additional appeal as memorabilia. It could reference a Disney character or the work of a popular author such as Beatrix Potter. This can add to its value.
Determine if the toy was originally cheap, expensive or moderately priced. Examine the joins of the toy. If they are smooth and everything fits neatly, the toy was made with care. If it is cast in heavy, solid metal, this is a sign of quality. Is it complex and have interesting features? As with modern toys, greater functionality will mean a higher price tag.
Check the toy for a maker's name or brand name. This is helpful in researching and marketing the toy. The right name can add to a toy's value. Names such as Hornby, Marklin and Triang are all sought after by collectors.