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Mattel Toys is celebrating 40 years of its popular die cast car, Hot Wheels this year. To commemorate the event, Mattel has planned many events this year showing off life sized models of the die cast cars they have produced over the years. Mattel started producing Hot Wheel cars in 1968 and the first model was custom Volkswagen. At auction today, that car would not bring in close to what the record is. The record for toy car and yes it was a Hot Wheels car, albeit one with diamonds was over $140,000. Talk about bling, this car had 2700 blue, black and white diamonds covering the 18 karat white gold frame.