It's a familiar story in the auto industry: Domestic brands that offer high quality and plenty of features are overwhelmed by Asian imports that started slow but are closing fast.

But there's a catch. I'm not talking about the auto industry that makes life-size models. I'm referring to the model car industry!

For several years now, familiar brands such as Lane, Highway 61 and GMP have brought out top-drawer model cars that are laden with working features, high gloss paint and lots of "curb appeal." But prices for those cars have been anywhere from $75 and up, posing a problem for hobbyists who don't have deep pockets.

In contrast is Yat Ming, a Chinese model maker whose early products were cheap and toy-like with few of the features that hobbyists look for, such as opening doors and trunk, moveable wheels and other items.

But take a look at its 1961 Imperial convertible in all of its glossy red glory. With glistening wide whitewall tires and lots of chrome accents, this car is a looker, capturing all of the finned glory of one of Chrysler's most adventurous designs. Expect to pay in the price range of $40 to $45 for this car.

For the most part, 1961 wasn't a high style point for most American car firms, and Chrysler was no exception. But somehow, with all that polished leather, sky-high fins, bullet-style taillights and free standing headlights, the Imperial stood out . Of course, you didn't see it much because Imperials were produced in extremely limited numbers.

The Yat Ming model captures all of the glamour of the Imperial, even down to windows that are operational. Everything else is there, too, from opening doors and hood to the beautiful spare tire cover that graced the rear deck.

Proportions are just right, and the company resisted the temptation to exaggerate the rear fin design, too.

Still, Yat Ming has a way to go in terms of finish. The materials are not equal to those used by the big boys, with the chrome trim in particular subpar in quality.

With the paint finish, the sheen on the whitewalls and some other appearance items, the model still looked like a toy. A well-made toy, to be sure, but not something you would mistake for being made by another model maker.

Even so, Yat Ming is improving steadily and is to be commended for replicating a car that most likely would be bypassed if it had not made the decision to build this model.