American Pickers: Why An Old-School Oil Can Cost Mike Wolfe Almost $2,000

The price of oil has risen dramatically over the years and as a result, so has the amount of money it takes to fill our gas tanks. Luckily for collectors of gas company memorabilia, the price of some oil containers — no matter how small — has risen in value, too. That's what a seller on the hit History series "American Pickers" found out during the August 16, 2023 episode when ace picker Mike Wolfe brought her up to speed on how much a one-gallon Richlube oil can in her possession was worth.

During the episode, the woman drives a hard bargain with Wolfe, who estimates the square-shaped metal container to be worth between $2,000 and $2,500. However, since Wolfe is in the resale business, he offers the seller $1,500 and then increases the asking price to $1,700 when she clearly isn't going to settle for the initial amount. After the woman counters Wolfe with an offer of $1,850, they settle on $1,800.

Wolfe is willing to pay so much for the Richlube oil can, in part, because of how well it has been preserved. "This can is in amazing condition," Wolfe says, pointing out how the colors and graphics of the can remain intact. Even with some paint loss, Wolfe is impressed by the item, telling the seller, "The cap is there, the spout is there, but here's the money shot — the race car [graphic]. That's what makes this can so desirable."

The sale of the Richlube oil can comes at a time when the market is hot for gas company memorabilia. "Whether it's a gas pump or a gas globe or an oil can, all of this stuff has gone up in value so much in the past 10 years," Mike Wolfe says while hashing out a deal. "Everybody's waiting for it to hit a ceiling ... now you got gas signs that are bringing over a million dollars. Yes, that actually happened." 

Of course, it's not the first time that the show has paid big money for oil and gas memorabilia. Previously, the "American Pickers" crew paid $1,000 for Conoco Oil Company signage, as well as $3,600 for a classic Flying A Gas sign.

During Wolfe's visit, it's clear that the woman and her husband were steeped in the world of collecting old-school gas company items with a gas pump and signs populating her space. "Between all the flea markets, the auctions, [and] the picking trips that she has been on with her husband, she's been in and out of the art of the deal," Wolfe says. "I can tell that."

And the art of the deal comes into play when the woman is negotiating the final price of the Richlube oil can. "I love it when she's tough on prices," Wolfe says. "It shows her appreciation for this stuff and her husband's passion."