Back in the early nineties, Ty Warner was a stuffed animal salesman with an entrepreneurial spirit. He brought his US innovation beanie babies to the World Toy fair. These small plush toys contained both trad stuffing as well as beans or small plastic pellets. This mix of materials made the plush toys posable in numerous positions.
How the beanie babies brand was launched
To successfully market his beanie babies, Warner formed the Ty Inc. Incorporation. He marketed these little plush toys directly to children and preferred to sell them in specialty shops. These small stuffed animals became wildly popular collectibles. The reason is Warren sold them in limited editions or quantities. From time to time, Ty will retire several beanie baby designs. Because of this, collectors grew wild and scooped up large numbers of beanie babies. They were fearful that it would soon be off the shelves.
The craze for beanie babies continued throughout the 1990s. The average value of each stuffed most expensive beanie babies became wildly inflated. In the early 2000’s beanie baby production completely stopped.
Currently, there are numerous beanie babies on eBay and other online marketplaces. Many of these little plush toys on the market are being sold, and because of this, beanie babies have lost much of their collector’s item value.
Beanie babies in the new millennium and market outlook
During the end of the 1990s, a majority of beanie baby collectors assumed that these plush stuffed animals will no longer be sold as of 2000. The date marks the coming of the new millennium.
A year before, in 1999 the Ty officially retired several beanie babies, and there wasn’t any response from the market. Those beanies never increased in value, and there wasn’t any demand spike. It was the beginning of the end for the babies.
Collectors grew panicked and flooded eBay with numerous beanie babies. With so many beanies available on the market, their value dropped like a rock. In frustration and desperation, T Warner stated that every beanie baby would stop production as of January 31, 1999. It didn’t do anything to soothe the market.
By early 2000 a majority of beanies were worth about 1% of their original market price.
Features to consider in your beanie baby when it comes to valuation
Several factors can have an impact on its value. First off, a beanie produced in small quantities will bring higher prices.
The provenance of the beanie baby is also critical. Provenance can relate to the certificate of authenticity or a documented story about the person who used to own the little plush collectible.
In some cases, the manufacturer will produce beanies in the wrong color. In some cases, the beanie might have a brown nose instead of a light brown nose. The tag lettering might also be incorrect. These quirks often increase the value of the beanie baby.
Beanie baby tags are incredibly critical since they can determine the generation of the beanie. The beanie’s hangtag, as well as the tush tag, should match exactly. Damaged or missing tags can significantly decrease the beanie’s value. On the other hand, errors in the tag can potentially raise the beanie babies’ value.
• Hang Tag
If the hangtag or swing tag is missing, damaged, or has been marred with writing, the beanie baby’s value drops instantly to almost nothing.
• Tush Tag
Beanie babies were designed with many different types of tush tags. Thus, it is more challenging to identify and price a beanie baby with its touch tag alone.
Back in 1998, Ty decided to stop stuffing beanie babies utilizing PVC pellets. The company switched to PE pellets which were considered to be more Eco friendly.
Thus, beanies containing PVC pellets aren’t as common anymore and may slightly have a higher value. The tush tag on your beanie baby will tell you which type of pellet was utilized for the piece.