Newbie Question About Appraising a Collection

[Anonymous]

Hi folks.  I'm new here, so I apologize in advance if this question is frowned upon.  I'm just hoping that someone can point me in the right direction.  I've got a bunch of old trains (engines, cars, tracks, accessories) that I know nothing about.  I'd guess that they range in age from 30 to 50 years old (possibly older).  My dad gave them to me many moons ago and they've been sitting in my basement ever since.  I'd like to find a reputable dealer/appraiser near me who can tell me what I have, approximate value, and suggestions on the best way to sell them.  I live in Elkton, Maryland (about 1/2 way between Philly and Baltimore).  Any suggestions?

Any advice would be greatly appreciated.  Thanks.

-Pete

[Frank53]

expect any dealer to undercut you on the "value". You can expect 30-50% of the going rate from a dealer who will be reselling.

You could get a Greenberg guide and obtain price ranges from it. However, you have to be conservative regarding what you consider to be the condition. You also need to take into consideration that prices in Greenberg guides are already high, and prices have dropped. Folks who inherit or otherwise come by Lionel trains check the pieces against Greenberg and make the mistake of thinking they are worth the top pirces Greenberg publishes. This is usually not the case, as condition is rarely what you believe it could be and Greenberg is already artifically high.

For the most part, track has little value.

Another option is to check ebay for items which bear the same number. This will give you a much more realistic idea of what the items are selling for.

You are best off selling them to an end-user, who will pay in the ballpark of the going price, without having to account for a resale profit.

You are welcome to email me a list at [e-mail]

 

[Anonymous]

yeh ebay would be your best bet.

[Anonymous]

Thanks for the info.  The problem I have is that I have no idea what I have.  I don't know what gauge, manufacturer, nothing.  Is there a "toy trains for dummies" resource?

[Frank53]

here is a reference site for Lionel O Gauge trains, which run on track with three rails:

 

See if what you have looks like anything you find here.

 

http://www.postwarlionel.com/index.html

[elvisp]

Pete,

Justrains is right down the road in the Newark Shopping Center, Newark DE. They may be able to help. They also have some valuation guides which might be useful. As other responses have indicated, a dealer will usually offer a fraction of the value of the trains as they will want to make a profit on the resale.   

[jimhaleyscomet]

Some folks think dealers are "greedy" because they only offer 25% of book value but often sell at book value.  I used to think this until I realized the overhead of a store.  Half of what you pay for a used loco goes to overhead to pay for the merchandise, the help, and to keep the lights on. 

I agree that ebay will provide the best return on your money.  A trip to the dealer to find out what kind of trains you have and to purchase the correct Greenburg price guide ($10-%20) is a very good idea. 

In general if they are hefty when you lift them or the tracks are three rail you probably have old O gauge and most likely Lionel.  Most Lionel sets were made in large numbers, played with by kids, and are not worth much more than $20 or $50 a set on Ebay.  However, there are many "rare" versions that could be worth substantially more if in good condition. 

If they are HO gauge they are probably worth almost nothing. 

Jim H

[iguanaman3]

Thanks for the info.  The problem I have is that I have no idea what I have.  I don't know what gauge, manufacturer, nothing.  Is there a "toy trains for dummies" resource?

 

You can start by looking at them carefully.  Most trains will have the manufactuer name somewhere on the piece. Locomotives and most cars will have a number on the side. If you post those numbers here, someone will help you I'm sure.

Neil  

[RR Redneck]

Hi folks.  I'm new here, so I apologize in advance if this question is frowned upon.  I'm just hoping that someone can point me in the right direction.  I've got a bunch of old trains (engines, cars, tracks, accessories) that I know nothing about.  I'd guess that they range in age from 30 to 50 years old (possibly older).  My dad gave them to me many moons ago and they've been sitting in my basement ever since.  I'd like to find a reputable dealer/appraiser near me who can tell me what I have, approximate value, and suggestions on the best way to sell them.  I live in Elkton, Maryland (about 1/2 way between Philly and Baltimore).  Any suggestions?

Any advice would be greatly appreciated.  Thanks.

-Pete

Any reputable dealer that speciallizes in model trains should be able to give you some help.

[Poppa_Zit]

Some folks think dealers are "greedy" because they only offer 25% of book value but often sell at book value.  I used to think this until I realized the overhead of a store.  Half of what you pay for a used loco goes to overhead to pay for the merchandise, the help, and to keep the lights on.  

Jim H

Interesting point of view there.

But how about the part-time guys who -- instead of the overhead expenses of a brick-and-mortar store -- work out of their vans at flea market train shows? They don't charge any less.

How about the guys who run classified ads and come to your house to see the trains, then try to screw you by demeaning their value? But of course, they'll be nice enough to take that "junk" off your hands.

How do these guys justify offering lowball numbers like 20 percent if they lack the brick-and-mortar overhead? Greedy, right?

[Frank53]

Some folks think dealers are "greedy" because they only offer 25% of book value but often sell at book value.  I used to think this until I realized the overhead of a store.  Half of what you pay for a used loco goes to overhead to pay for the merchandise, the help, and to keep the lights on.

<<spleen vent open>>

it's really not anyone's job to make sure a dealer can pay for his lights. If he is having trouble making ends meet without robbing sellers who stroll in to sell Uncle Pete's trains, he should consider a different business.

A local hobby shop I know will rob you blind if you "don't know what you have" (their words, not mine).

I buy all the post war trains I can find which fit my layout plan, era and roadname which make sense in the theme of my layout. I will pay between what a brick and morter shop will buy them for and what they will sell them for. When a hobby shop is buying, your stuff is "common" and has too much "play wear". When they are selling the exact same trains, they are "rare" and "Excellent" or "like New". So I pay between their ridiculously low-ball offers and the ridiculously high selling prices they put on them after you drive out of the parking lot.

<</spleen vent shut>>