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As everyone else has said, It's important to do your homework. I've bought a couple of locos from eBay, and had a good laugh at some of the crazy prices others have paid. The trick is to work out how much the item would be in a normal hobby shop, and then don't bid more than this. I mostly look for stuff that isn't available anymore in normal hobby stores - I won a brand new, never been opened Athearn BNSF Warbonnet Dash 9 dummy recently in this way. Also, be careful of your sellers. Only buy from people with very high positive feedback, this should protect you from the scammers!
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