How to sell a Lionel collection

[lsbeachwx]

Hi,

Can anyone give me advice on how best to sell my Father's Lionel Train Collection from the 1960s - many are still in original boxes and have not been used for 45 years?   Posting each piece on ebay seems overhwhelming.  Collection was appraised at $7000 in 1998.

 

thanks, LSBEACHWX

 

 

 

[AudioMixer]

Three ways.  Each with advantages and disadvantages:

1-Ebay

2-Sell to an online dealer.  Just search for online used trains (Postwar Lionel)...or...sell to a local dealer.

3-Auction Professional

[teledoc]

You will have to supply a list of items which will take some time to accomplish.  Without a complete list, and an old appraisal is not enough.  Pricing can be all over the place, depending on the items.  Do you intend on selling the whole collection as one complete unit, or do you want to try and sell individual items is the first question that needs answering.

[ADCX Rob]

For a small collection like this, make it a summer project to photograph and catalog each piece and list the collection on eBay between Nov 1(after York Oct meet) and April 1(just before York April meet). This will yield the best prices.

I hate when sellers do this - but it works in getting the most money - to split up steam engines from their tenders. The only exceptions would be complete boxed sets, they are worth more either whole or every piece(even boxes, separated from contents) sold separately. Again, I personally do not like to see this, but buyers are often looking for that one piece or box to complete a portion of their collection.

[Nationwidelines]

This is a dilemma facing many people these days.  I had a good friend pass away last year at the age of 90.  He had a mid-sized collection that was comprised of a mix of pre- and postwar Lionel, American Flyer, Bing O and standard gauge trains, with an additional amount of modern Lionel from the mid 1980s to early 1990s.

His children asked me to help them with the collection and the first thing we did was to catalog and re-pack everything.  This process, which took several weekends, was informative for me as it helped to see the condition of the entire collection, some of which I had never seen due to it being hidden under tables and closets, and other storage areas.

After cataloging everything, I helped them to cherry pick items for themselves to keep to remember their father/grandfather.  I then helped them to cherry pick out items that I sold to people who knew their father and had asked about specific items, as well as networking with people I knew to sell items that they were interested in.  This resulted in the best prices for these items.

After this, we discussed the options of selling items through a train auction house, via ebay, or by other means.  In the end, I offered to sell the collection for them at no charge, other than any costs that I incur, such as table costs at train shows, etc.  I doubt you will be lucky enough to find someone like that, but my friend was such a good guy and his family has been so nice, that I don't care about the time that I am incurring.

However, if your father had any close train friends that you know and trust, they may be very helpful to you in the cataloging process and providing some idea of values/rarity.

My friend's family opted not to go with an auction house because of the costs.  The seller fees to the auction houses can range anywhere from 15% to 40%.  Some of the auction houses are currently 1-year out in being able to sell anything due to a backlog of inventory.  Additionally, some auction houses have only fair results in selling stuff.  With mediocre stuff especially, the auction houses will group it in large lots and sell it that way and net less for the seller.

My friend's collection varied greatly in condition and this presents problems for any seller.  Mediocre items are not bringing great prices and if one wants to move these items, they have to price them to move.  That is very hard to do.  Also, I can say that modern Lionel is very hard to move, it takes time and the stuff is selling for about 1/3 or less than what it cost new. 

If you are thinking about selling the stuff yourself, I suggest you check out LiveAuctioneers.com and search for sold items similar to what you have to sell.  That can give you an idea of what the items are selling for.  Pay attention to the sale date, as the market has been declining in recent years and some of the sales may go back 10 years. 

One thing to consider about selling on ebay is that when using Paypal as a seller, they will report you to the IRS if you have over 2,000 items and $20,000 in sales in any one year. 

As for my friend's collection, I have been selling it at local train shows, I went to York TCA show last fall, and I have listed some select items on ebay, as I know some items sell better on ebay than at local shows. 

The other thing to consider when selling on ebay is do you have adequate packaging material?  If not there are costs to packaging and sending items.  That has limited me on selling a lot of stuff on ebay, as I am trying to minimize the selling costs.

Oh, and if you should decide to sell the collection to a single buyer (specifically a dealer), expect to recieve about 25% to 33% of retail value for it.

Just some thoughts for you.  Hope it helps.

NWL

[rtraincollector]

if you don't want the hassel of going thru everything make a copy of the appraisel and remove the prices and send it to www.trainz.com and to www.traincity.com ( both sites will tell you how to submit it) and see who gives you the best offer trainz will even pay for shipping to my knowledge or use to. Traincity probably will also even thou in honesty it probably part of there offer. But not shown. 

Another option would be to contact http://www.stoutauctions.com/  and see how they work and you probably would need to get it them by shipping or delievering if your close to one and you probably get your best return thru them but remember this way you have to get it to them and it could be a while till you see payment as they would have to sell it first.

[Firelock76]

Is there an antiques and collectables co-op in your area?  That is a place where the owner rents out display spaces and cases to individual small dealers?

You may want to look into the same.  Rent some display cases, (only you can decide how much is reasonable) price your articles and put 'em out.

I'm into antique malls and co-ops quite often and very rarely see any toy trains.  At a train show you'll be one of a crowd.  At a co-op you'll be unique.

I should add that when I do see toy trains at these shops they don't hang around very long, especially if they're of good quality.

[BigAl 956]

Be prepared to see a drop in value from that 1998 appraisal. 7000 in 98 probably comes in at around 5000 today. If you sell to a dealer prepare to receive offers of 2000. The first step is to make a photo inventory posted to a hosting service with descriptions.

[hielsie]

Several ways depending on how much work you are willing to do.

1. Start by buying the CCT 2016 prices manual - on-line for $22 or in a hobby shop. This will allow you to see values, especially to check on fairness of offers.

2. If possible go to one or more train shows in your area (usually advertise in your local paper under shows or collectables). Look at pricing of same items. Talk with those at tables about buying your trains. Many of the sellers are willing buyers (that is how they are sellers). You should expect no more than 50% of what they sell for and/or 50% of price in book and often much less if not in pristine condition. They often (always) come to you to see what is available if you have a lot. Some will cherry pick and others will buy all. It is OK to ask 1 or 2 to make offers and to wait before accepting. Others will ask you to bring them to the next show and look at them in the trunk if there is only a few items.

3. Rent a table for the next show at the show and sell your self. This requires pricing each piece, cleaning each piece, packing up and wheeling in on a hand truck, setting up having a list of items and prices (and bottom line bargining if someone is helping you - esp went you go to the restroom). Be prepared to take some or a lot home and have some items shop lifted or dropped and broken.

4. Look in paper for ads by individuals wanting to buy trains. Caution, know your value 1st. Be cautious on strangers coming to your home. Get references from previous customers before proceeding.

5. E-bay - proccess  was described by others.

6. Auctions - as above.

7. CTT has ads by nationwide buyers that are reputable.

7. Sell through train magazine ad or listing services.

8. Really good condition boxes have much value, sell seperately from item if it works for you.

Really know your value realistically to be most satisfied with any process.

Hielsie