Jens Veerbeck, 40, first discovered his interest in the kitchen appliances while he was browsing a flea market fifteen years ago on a trip to San Francisco. Now he owns 600 models, including one worth £3,500 from the 1920s.
The graphic-web designer said: "I bought an old chrome pop-up toaster from the 1950s and I initially wanted to use it in my kitchen, but it sparked a love affair which goes on to this day.
"Six weeks later I was visiting another flea market in Holland and I found a really small ugly toaster made in what used to be East Germany and it was the contrast between the two that got me going."
He has now created an online toaster museum to display the hundreds of designs that are stored in a converted loft of his apartment in Essen, Germany. Last year 20,000 people visited the website, but Mr Veerbeck admitted there was some personal benefit to creating the site.
He said: "It means that I can see my toasters all the time."
While his hobby is expensive - some of the rarer models have cost up to £1,500 each - he says they have more than doubled in value.
"These toasters are now probably worth up to £3500 now," he said. "But bear in mind the fact that the toaster collectible market goes up and down more times than a popping piece of bread in a toaster.
"There was a great crash in toaster prices in 2001, it was quite inexplicable."
He claims that every country has a unique style of toaster, and says he can tell where a toaster is from "just by looking at the design", but admits his strange hobby does leave people questioning his sanity.
He said: "Some of my friends think that I am crazy to have such a large collection of toasters, but please believe me when I say that I am not some strange freaky collector who goes round collecting toasters."
According to Telegraph