In an unexpected twist, the market for a discontinued Mattel Allan doll is witnessing a price boom. This sudden popularity surge is attributed to actor Michael Cera’s portrayal of the vintage ‘Barbie’ character in the recent ‘Barbie’ movie.
Earlier this week, a preowned Allan doll fetched $410 on eBay, while an ongoing auction saw the price for another Allan doll escalate to $605 by Friday. A sharp contrast from the typical $35-$76 price range Allan dolls fetched before the release of the film, as reported by TMZ.
The sudden interest in the classic Allan doll is due to the successful debut of Mattel’s ‘Barbie’ movie. The film turned heads by raking in a whopping $155 million during its opening weekend in the US, greatly exceeding initial box-office predictions. If estimates from BoxofficePro are accurate, the movie is set to earn a staggering $400-$425 million domestically by the time it concludes its run in theaters.
Mattel’s stock has enjoyed a much-needed lift from the film’s success, with shares appreciating by 9% over the past month and soaring by 16% since the start of the year. However, the first half of the year wasn’t so rosy for Mattel, with global gross billings of the Barbie brand experiencing a 23% drop, clocking in at $459.6 million, from the same period in 2022.
Despite the triumphant return of the summer blockbuster season with movies like ‘Barbie’ and ‘Oppenheimer,’ analysts caution that the success of these blockbusters may not be sufficient to drive a sustained rally in movie stocks. The sector has struggled in recent years, and the ongoing SAG-AFTRA strike is likely to add to its woes.
The sudden, meteoric rise in the value of the vintage Allan doll serves as a compelling example of the unpredictable ways in which pop culture influences market trends. It also highlights the potential for such unexpected surges to shake up what may have seemed like a stagnant market. Whether you’re an investor, an entrepreneur, or an avid Barbie collector, these are interesting times in the world of collectible dolls!