I thought I would chime in on this topic since I work in a profession that this really relates to. The real issue is on the logos of the respective companies they are representing. Since a product is being created with the use of a company's logo, it is required to get the licensing to reproduce the logo. Also, to use such logo with other created art needs permission from the 'brand' owner. Licensing isn't hard to get and may require a fee. The fee is so much cheaper than any lawsuit a company may bring on.
In this example, Bolens, is owned by MTD now. So this logo key chain (link below) could bring MTD to action.
Bolens Key Chain
As for the pics ... as long as permission is given by the photographer all is good. To add the logo then the company of the logo needs to approve the use with that photo.
I wish everyone well and hope this is layman clear to what the law is on this topic.
In reference to this, You'll notice the "logo" has no copyright or trademark tag. That particular font is a stretched out version of IMPACT font with a 30 degree slant. MTD doesn't own that font type, impact font is is freely used font, It actually isn't the the Bolens MTD logo. It just looks like it. It's technically art. That's not legally actionable. What I do is no different then someone who makes art. Which is what I consider what I do. Also the idea of copyright and trademarking is to avoid and prevent market confusion. If you made a bolens tractor, trademarked the name and copyrighted it and all that stuff then I made a bolens tractor that would be confusing and "infringing". But I could make a Bolens bicycle or a Bolens car. Bolens doesn't make merchandise. I don't sell John Deere novelties because John Deere sells all sorts of merchandise.
The reason I sell these things is because people like their tractors and they like to show it and they like to be asked about it. People generally like these old tractors and love to hear about them. Having a keychain or whatever it maybe that shows off your enthusiasm is just fun. I consider what I do as art. I don't actually "copy" anything. I draw it. If I drew a life like picture of Marilyn Monroe from a picture taken of Marilyn Monroe of which I didn't own. The drawing is still owned by me to do with what I wish. My keychains are art, original drawings. I don't claim any affiliation with any company. I simply make tractor art.
I like tractors, I like graphic art, and I live in a capitalist country.