Dollar wise, the most valuable of vintage Mitchell reels are the ones that have never been used, still NEW in their original box, with original paperwork.  If you come across one of these you have a gem.   Hands down, these command the greatest prices on eBay.  It matters not the model, if you have the reel with its original box and paperwork it is of greater value than the same reel without these "extras."  They are the most collectible, period.  Values do vary amongst individual models.  A "New in the Box" (NIB) reel can be worth anywhere from $100 to $1000 and beyond.  There are many reasons that factor into the price variations, some models were limited editions, some were prototypes, some were first editions, others were less successful models that were made in limited amounts, some have more bling, while others were just simple production reels.  Yet all maintain a solid value and time and time again the ones NIB command the highest prices.

Sentimental value-wise, the most valuable Mitchell reel I own is the 309 ultra-light my dad gave me in the early 1970s.  I caught hundreds of bass and pike with that reel.  My son, John, fishes with it now, while I use dad's old 301.  Both catch fish just as well today as they did when I was young.  But they cannot command the market value that a NIB reel does.  But honestly I would sell off any NIB reel I own before I would either of those.  You just can't put a price on the memories wrapped up in them.  They are the reason I started collecting these 30, 40, 50 and 60 year old reels in the first place.  They still work with the best of them and as the old cliché goes, "they just don't make them like they used to."

These two examples showcase each end of the broad spectrum of reels you'll find on eBay.  Beat up old stand-alone reels like dad used, to ones sealed in the manufacturer's original box.  Over the years I've seen eBay run an average of about 600 Mitchell-related auctions on any given day.  With your permission I'd like to spend the rest of this review sharing some of the lessons I have learned over time as I sorted through these ads and spent more time than my wife knows bidding, winning and losing on eBay auctions.

I have had over 300 transactions on eBay.  Maybe six of those 300 transactions went less than wonderful.  Of those six, only three were bad over a Mitchell reel, all three reels misrepresented.  Of those three, one was intentional and the seller was banned from eBay.  The other two were from what I call "well meaning" sellers who were selling to the best of their abilities.  They just didn't know much about fishing reels; I do not hold them responsible for their poor ads.  All in all, I feel one bad apple in 300-plus transactions is a pretty good success rate.  Further, considering over 90 percent of what I purchase on eBay is Mitchell related, it keeps me coming back.

So here is what I have learned, first of all -- Be prepared to pay a fair price.  In order to know what a fair price is there are a few things you can do.  Talk to experts first, a number of great collectors regularly visit eBay's Mitchell Fishing Reel Group.  Join up there, it’s an open forum group, and ask them your questions.  You can also follow the reels for a time, make your own assessment, then set your limits on what you feel is fair.  Last, you can get a collectors value guide; there are a couple out there.  I can recommend B. R. Frewings' "Mitchell Birth of a Legend a Collector's Guide" or Dennis Roberts's has published two different "Mitchell Reel Collector's Value Guides," all three books are great reference books, not to mention investments.  Ben Wright also has a book on spinning reels that has a huge section on Mitchell’s.

One of the greatest pitfalls out there is a misrepresented reel in an ad.  I have come to believe most of these reels are misrepresented because the seller is just not knowledgeable, i.e., not on purpose.  Ask the seller the condition of the reel before you bid.  Give them the Old Reel Collectors Association (ORCA) grading scale.  You can find it at this link on the ORCA webpage, eBay won't let me link to there.  Don't leave them wiggle room; ask them to make a mechanical and appearance assessment on their reel.  Also look at the return policy.  I know a seller who is like a show dog breeder, he has such a wonderful return policy on his reels, he'll take the reel back no questions asked if you're not satisfied.  If a seller won't stand behind their product, find another seller who will. Millions of these reels were made and for every bad seller there are 299 good ones (or more)!  

Currently there exists a sort of a "Wild West" happening on eBay if you will.  Made-up kits, and we make-up the rules as we go along.  Purchasing reels in boxes is an area to tread slowly in from the beginning.  Many out there know a reel in a box sells at a higher price.  They will slap about anything together and sell them advertised as an original packaged item.  Beware of this.  I personally have learned my lesson here the hard way, and more than once. I've received a 309 reel in a 300 box with wrong period paperwork; it is what can happen if you don't know what you're looking for.  Take heart, there are some things you can do to prevent or minimize this pitfall from happening.  First, ask the seller if the box has matching serial number to the reel, just about anything in a sold plastic box had serial numbers.  Most all (but not all) reels sold in cardboard boxes had serial numbers, so ask!  Second, ask another collector if they believe it is original.  The big thing is ASK QUESTIONS, especially if a seller states 'original box.'  Currently there is no set system for validating authenticity, I hope some day there is some sort of authenticating agency on top of the ORCA grading system.  That would be the greatest.  Maybe when I grow up I'll start a non-profit organization that will do this, or I'll support one that will.

All this being said, please know there are some very good and reputable collectors who assemble Mitchell reel packages and/or kits.  Waiting for boxes, manuals and registration paperwork, etc., to come up on eBay and they bid and win these items.  Then they take the individual items and assemble everything into a kit.  We then have the next most valuable type of reel, after the factory original NIB.  I personally find nothing wrong with doing this.  I actually feel it preserves the Mitchell history.  However, I believe, these reel packages should be permanently identified as a Period Collector Reel Package (PCRP) vice NIB.  My number one concern being the temptation to represent such an outfit as NIB.  Plain and simple, in my book to do this and say it is NIB or original Mint in the Box (MIB) is fraudulent.  This is going un-policed, and over time I feel it will degrade the value real genuine authentic NIB reels and even Mitchell collecting as a whole.    Don't get me wrong, these PCRP's have value and I am not passing judgment on those assembling them.  I actually bow to them and their efforts putting together such works and offer a great thank you for preserving this great heritage.  I only ask these packages are properly represented and permanently identified as a PCRP reels.  Off my soap box now.  

*****  UPDATE ******  In May 2008 a new reference guide, Mitchell 300 Boxes Identification & Dating Reference 1946-2008 by Mike DiMattio, hit the streets.   It is a limited edition, spiral ring bound, 61 page color book.  I believe this work will answer many a question for those of you desiring to invest in a Mitchell reel box or two (or ten).  Owning it will definitely give one the advantage of being able to compare if the reel represented in an auction actually has the correct box associated with it.  The catch here is it is a limited edition, you have to watch for it to go on sale on eBay. *****  FINISH UPDATE ****** 

Next thing I want to touch on is restored and touched-up reels.  Boy oh boy, can this discussion heat up some of the best collectors.  Plain and simple, however, a cherry original paint job is best, and again commands the highest prices.  There are some who feel that no reel should be repainted.  Then to the other extreme there are those who will strip old paint off and repaint.  I had a dear friend who used to do this.  I actually feel he created new works of art doing so, especially now that he has passed away.  Yet he always advertised his creations as custom, i.e. not original.  I feel what you do to your reel is your business.  All I ask is if you go to sell it, that you me tell me if you restored it.  After all it is a Mitchell, it always has value, even restored.  But again the bottom line is restored reels should not be as valuable as the reel that has lasted the same amount of years with its original factory paint.    

Next item is parts looking for parts.  There are a couple ways to go.  One can look for basket case reels for parts.  Or there are a number of eBayers who sell New Old Stock (NOS) parts.  These NOS parts are factory made originals still out there after all these years.  I believe I have bought from all of them biggest sellers.  Every one of them are good solid reputable eBayers!  Check their feedbacks.  I go both ways.  I'll use used parts or I'll buy NOS, it just depends the reel.    

I'll finish with this:  If it has Mitchell on it, it has value.  I can't tell you the actual number of "basket case" reels I've spent an hour on fixing up and added another 20 years of fishing to its life.  It never ceases to amaze me.  If you are not as easily awestruck as I am then know they dependably catch fish and I challenge you to find a commercial off the shelf reel for $20 that is as good as a used 300 you can win on eBay for the same price.

Good luck and let me know if this helped.  Jerry