Whether they're your grandmother's hand-me-downs or an impulse buy from Martha Stewart's Martha by Mail
catalog, cookie cutters can be worth far more than you originally paid for them. Collectors often look for three things: size (extra-large and extra-small being more coveted), color (the darker the tin, the older it is) and shape (forest animals are popular, though the most sought-after cutter is the "Heart in Hand," a hand with a heart outline either in the palm or sprouting from the thumb, Baker says). Most antique cookie cutters
start at $20 to $25 apiece, though a mint-condition "Heart in Hand" that's several decades old can sell for up to $1,500.
Martha's four-piece sets can fetch up to $300—such as the copper "Blooming Flower" or "Victorian Glass Ornament" styles—particularly if they're still in the box.