Hobbies And Interests
History
Beanie Babies debuted in 1993. According to U.S. News and World Report, Ty Warner, the sole owner of the Westmont, Illinois-based Ty Inc., set out to create a popular toy that was affordable, collectible and lovable but in limited supply. The fruits of his labor were small, pellet-filled animals, collectively referred to and tagged as Beanie Babies.
Rise in Popularity
By 1995, Beanie Babies had spread around the world. According to About Beanies, it was in that year that the company began "retiring" certain animals, upping their resale value and leading to the increasing popularity. Other models were modified and the original model recalled, making the originals rare and more valuable.
These two factors sparked a spike in online sales for secondhand Beanies, according to the Sunday Telegraph. By 1999, says U.S. News and World Report, the sales at Ty Inc. had reached $1.3 billion, "some Beanies [selling] for thousands of dollars on the secondary market."
The Craze's End
The craze cooled down by the start of the century. In 2002, Beanie Babies 2.0 were added to the Ty family. According to Ty's website, the Beanies, and the activation codes that come with them, enable buyers to connect to an exclusive interactive website.
As of 2009, the total number of Beanie Baby varieties is more than 365, according to the company's profile on Yahoo! Finance. Some toys still fetch a high price on eBay and other auction sites. Auction prices can top $10,000, depending on how rare the Beanie is.
Rules of Condition
The eBay Beanie Babies Buying Guide is a good resource for finding the value of a Beanie you would like to buy or sell. It provides a checklist of the qualities a Beanie must possess in order to be considered valuable. The details may be more extensive than a collector initially realizes; counterfeit Beanies once ran rampant, and as a result, the smart buyer will examine the product's hang and tush tags for authenticity. The Beanies of highest value will have both tags intact, the hang tag often encased in plastic, smooth fabric all over and all the original details of the style as pictured on the Ty website.
New Beanie Babies
Ty's website lists stores that carry Beanie Babies, usually gift shops, pharmacies and supermarkets. Some of the best deals can be found at locally owned hobby, craft and toy stores. However, browsing eBay can help complete one's collection, as many of the Beanie Babies 2.0 sell at the base price of $3.50 plus shipping.
Some of the newer Beanies are licensed characters, such as Dora the Explorer, her cousin Diego or the Backyardigans. Much less expensive than most products related to these television programs, a Beanie Baby Dora or Diego can be a great bargain for a parent with a child who's a Nickelodeon fan.