Shutting down a model railroad.....ideas?

[Anonymous]

I have spent 20 years building my 18' x 30' HO layout. Thousands of dollars have been invested in this project as I have over 2000 pieces of rolling stock and over 1,000 feet of track on the layout. Hundreds of structures, some of the very expensive kits that run in the $300 catagory when purchased. Many of the pieces of rolling stock are rare and hard to find as they have been out of production for years. Here's my probem.
If I decided to quit modeling, I could manage to sell it all on Ebay or to local modelers. Should I become ill say with alsheimers or end up in a nursing home, or even die, what can a widow do with a layout like this. I have no relatives who would want any part of the layout. My wife dosen't know the value of items, she'd be at a loss to try and sell the stuff. What could be done in a case like this?
I know that it could all be donated to a local club, but I'd prefer not to do that as
my wife would need the money from the value of the items. How can a widow, or a modeler who has to quit because of health, get back some of his investment in a big layout?

[Anonymous]

I have spent 20 years building my 18' x 30' HO layout. Thousands of dollars have been invested in this project as I have over 2000 pieces of rolling stock and over 1,000 feet of track on the layout. Hundreds of structures, some of the very expensive kits that run in the $300 catagory when purchased. Many of the pieces of rolling stock are rare and hard to find as they have been out of production for years. Here's my probem.
If I decided to quit modeling, I could manage to sell it all on Ebay or to local modelers. Should I become ill say with alsheimers or end up in a nursing home, or even die, what can a widow do with a layout like this. I have no relatives who would want any part of the layout. My wife dosen't know the value of items, she'd be at a loss to try and sell the stuff. What could be done in a case like this?
I know that it could all be donated to a local club, but I'd prefer not to do that as
my wife would need the money from the value of the items. How can a widow, or a modeler who has to quit because of health, get back some of his investment in a big layout?

[vsmith]

My wife would say, " NOTHING THAT CAN' T BE SOLVED WITH A LITTLE LIGHTER FLUID AND A MATCH !..."

Well thats her opionion, but if you want to get ride of stuff slowly I'd ebay it starting with the least valuable stuff first. that way you can get a feel for the way ebay works.as you get for savy you can sell the pricier items.

I would try to sell off valuable (brass, tec.) items thru model RR magazine ads, local clubs, or model RR websites that offer ads. Hobby shops sometimes will let you sell rare or unusual items thru them by proxy. But I wouldnt risk ebay for expensive or rare items unless you are very savy about what it is really woth and what you are willing to sell it for. If you simply put it on ebay without a minimun bid you may lose big. Also be preparred to take a hit as most stuff never resales for what you payed for it. and be prepared to take some time selling off stuff, dont dump it all at once, you'll really lose $.

[vsmith]

My wife would say, " NOTHING THAT CAN' T BE SOLVED WITH A LITTLE LIGHTER FLUID AND A MATCH !..."

Well thats her opionion, but if you want to get ride of stuff slowly I'd ebay it starting with the least valuable stuff first. that way you can get a feel for the way ebay works.as you get for savy you can sell the pricier items.

I would try to sell off valuable (brass, tec.) items thru model RR magazine ads, local clubs, or model RR websites that offer ads. Hobby shops sometimes will let you sell rare or unusual items thru them by proxy. But I wouldnt risk ebay for expensive or rare items unless you are very savy about what it is really woth and what you are willing to sell it for. If you simply put it on ebay without a minimun bid you may lose big. Also be preparred to take a hit as most stuff never resales for what you payed for it. and be prepared to take some time selling off stuff, dont dump it all at once, you'll really lose $.

[spjoe]

I would make a complete inventory of your layout, and come up with a dollar amount that was put into the building of your layout. Second, I might get me a lawer and and give him an idea what you want to do with your layout.

An auction may be your best bet to get a large amount of your money back, but expect a loss on your money as well. You can contact the NMRA, (National Model Railroad Association). They may help you find a buyer or an auction to sell your layout.

I hope this helps you out.

spjoe...

[spjoe]

I would make a complete inventory of your layout, and come up with a dollar amount that was put into the building of your layout. Second, I might get me a lawer and and give him an idea what you want to do with your layout.

An auction may be your best bet to get a large amount of your money back, but expect a loss on your money as well. You can contact the NMRA, (National Model Railroad Association). They may help you find a buyer or an auction to sell your layout.

I hope this helps you out.

spjoe...

[Anonymous]

If you don't like the idea of using E-bay, I would suggest approaching a local club, or hobby shop. You should probably have a list of the items you have, and perhaps an asking price for each item (you might check your local hobby shop for an idea of what current items are selling for).
Good luck!
Tim

[Anonymous]

If you don't like the idea of using E-bay, I would suggest approaching a local club, or hobby shop. You should probably have a list of the items you have, and perhaps an asking price for each item (you might check your local hobby shop for an idea of what current items are selling for).
Good luck!
Tim

[jrbarney]

In addition to the other ideas posted perhaps you could donate some of your gear to the NMRA and get an income tax deduction. Don't believe the NMRA can advise you on this, you need a tax attorney or financial planner, but the NMRA will send an acknowledgement you can put in your files should the IRS get antsy. Do think your will or revocable trust should state whom you want to receive your railroad books and
magazines. I'm not positive, but I think the cost of shipping them at book rate can be deducted from your estate as a "cost of doing business."

[jrbarney]

In addition to the other ideas posted perhaps you could donate some of your gear to the NMRA and get an income tax deduction. Don't believe the NMRA can advise you on this, you need a tax attorney or financial planner, but the NMRA will send an acknowledgement you can put in your files should the IRS get antsy. Do think your will or revocable trust should state whom you want to receive your railroad books and
magazines. I'm not positive, but I think the cost of shipping them at book rate can be deducted from your estate as a "cost of doing business."

[Anonymous]

Our local NMRA division has an auction every year in December. Lots of stuff shows up and most of it sells. Most of the pricing is much lower than retail so don;t expect to get your full money's worth back. look at it this way: you spent $10,000 and had $7,000 worth of fun already. If you work at it, you might get $3,000 in cash out of it,

[Anonymous]

Our local NMRA division has an auction every year in December. Lots of stuff shows up and most of it sells. Most of the pricing is much lower than retail so don;t expect to get your full money's worth back. look at it this way: you spent $10,000 and had $7,000 worth of fun already. If you work at it, you might get $3,000 in cash out of it,

[Anonymous]

you could donate it all to me...or something else you could do is start figuring out what it is all worth. If you wont be running it anymore put price tags on the items for what they are worth. That way when...if...something happens to you that you are no longer able to look at them someone would know exaclty what to expect for the items. Dont put the items up for Ebay. Sell them to locals. There is nothing more satisfying then being able to buy directly from a fellow RRer. Best bet would be to go to a local RR club and just start talking to people about it. I am sure if you talk to enough people that someone is gonna hear about something you have and offer money for it. There are usually annual RR shows in the area also where you can sell of your collection. We just had ours in my town, so search online soon and see if you have 1 coming to yuor area. Best of Luck

[Anonymous]

you could donate it all to me...or something else you could do is start figuring out what it is all worth. If you wont be running it anymore put price tags on the items for what they are worth. That way when...if...something happens to you that you are no longer able to look at them someone would know exaclty what to expect for the items. Dont put the items up for Ebay. Sell them to locals. There is nothing more satisfying then being able to buy directly from a fellow RRer. Best bet would be to go to a local RR club and just start talking to people about it. I am sure if you talk to enough people that someone is gonna hear about something you have and offer money for it. There are usually annual RR shows in the area also where you can sell of your collection. We just had ours in my town, so search online soon and see if you have 1 coming to yuor area. Best of Luck

[Anonymous]

a good friend and fellow railway club member passed away suddenly a couple of years ago, leaving his widow to dispose of all his railway paraphernalia. not only was there the obvious modelling items - locos, stock, track, buildings etc, in numerous scales(O,HO,OO,N,2mm finescale- he collected items from US, UK, continental railways) there were also masses of books, pictures, modelling tools, tools in general, videos, wood and a host of other things that we modellers collect, which are so useful to only us - detailling parts, card, plastic, even carpet underlay. just think about everything you have collected thats not just layout and stock.

anyway several fellow club members got together to catalogue everything that could be useful to fellow modellers, that his widow no longer wanted. they started with the obvious locos and rolling stoct, then went onto, books, magazines, videos, tools, paintings and other items, listing each in turn. The lists were priced up at realistic prices - remember his widow was not interested in realising every last penny of worth from the collection, she only wanted to get rid of it, so the prices reflected good second hand value, so that the stuff would move.

the lists were then circulated among fellow modellers, club members, scale society members, traders and hobby shops (the exhibition circuit is good for this) and the gear was gradually sold. obviously the good stuff went first, but as the lists went down the items became cheaper as time went on. funnily enough i ended up with Peter's small collection of American HO, which got me started in the scale.

the whole process took over 18 months from cataloguing the items to finally getting rid of it, but remember, the list of locos and stock was being sold, while the next list was being drawn up.

think about it, the process is no different than if you were to completely get out of the hobby now, how would you sell your collection.

[Anonymous]

a good friend and fellow railway club member passed away suddenly a couple of years ago, leaving his widow to dispose of all his railway paraphernalia. not only was there the obvious modelling items - locos, stock, track, buildings etc, in numerous scales(O,HO,OO,N,2mm finescale- he collected items from US, UK, continental railways) there were also masses of books, pictures, modelling tools, tools in general, videos, wood and a host of other things that we modellers collect, which are so useful to only us - detailling parts, card, plastic, even carpet underlay. just think about everything you have collected thats not just layout and stock.

anyway several fellow club members got together to catalogue everything that could be useful to fellow modellers, that his widow no longer wanted. they started with the obvious locos and rolling stoct, then went onto, books, magazines, videos, tools, paintings and other items, listing each in turn. The lists were priced up at realistic prices - remember his widow was not interested in realising every last penny of worth from the collection, she only wanted to get rid of it, so the prices reflected good second hand value, so that the stuff would move.

the lists were then circulated among fellow modellers, club members, scale society members, traders and hobby shops (the exhibition circuit is good for this) and the gear was gradually sold. obviously the good stuff went first, but as the lists went down the items became cheaper as time went on. funnily enough i ended up with Peter's small collection of American HO, which got me started in the scale.

the whole process took over 18 months from cataloguing the items to finally getting rid of it, but remember, the list of locos and stock was being sold, while the next list was being drawn up.

think about it, the process is no different than if you were to completely get out of the hobby now, how would you sell your collection.

[BR60103]

There is a great problem with setting values on things like built up kits and superdetailed locomotives.
In our club's experience, we have found that there are at least two types of purchasers. There are the opportunists who want to pay bottom dollar (if not charge the widow to take it away), and others with the Royal Navy attitude where the proceeds from a fellow's "kit" might be the only money his wiodow got, so they'd bid high to make a large sum.
We've also had the experience where items were tossed loose into bags and the result was like a set of mixed kits.

[BR60103]

There is a great problem with setting values on things like built up kits and superdetailed locomotives.
In our club's experience, we have found that there are at least two types of purchasers. There are the opportunists who want to pay bottom dollar (if not charge the widow to take it away), and others with the Royal Navy attitude where the proceeds from a fellow's "kit" might be the only money his wiodow got, so they'd bid high to make a large sum.
We've also had the experience where items were tossed loose into bags and the result was like a set of mixed kits.

[leewal]

I know of a lady who sold all her late husbands stuff by setting up a table at our annual NMRA division show. All us portable/modular layout people where there setting up for the show the evening before and she was there setting up her table. All, I mean ALL, her stuff was gone that evening before the show opened for the weekend. She did great. She also had the help of her husbands friends and local modelers who knew her husband and they took good care of her and made sure she got fair prices. If she had sold to a used train dealer she would have gotten half of what she got becaue the dealer would be reselling the stuff at the same type of show in some other city. Good Luck.

[leewal]

I know of a lady who sold all her late husbands stuff by setting up a table at our annual NMRA division show. All us portable/modular layout people where there setting up for the show the evening before and she was there setting up her table. All, I mean ALL, her stuff was gone that evening before the show opened for the weekend. She did great. She also had the help of her husbands friends and local modelers who knew her husband and they took good care of her and made sure she got fair prices. If she had sold to a used train dealer she would have gotten half of what she got becaue the dealer would be reselling the stuff at the same type of show in some other city. Good Luck.

[Anonymous]

Hey there,

Do you have a children's orphanage nearby that has the room to accept it and will be able to have it running without real intricate hands on all the time. Your gift from the heart, will bring a joyful smile to so many kids who may suffer from very little hope, that a gift such as this can really help inspire them.

Just a thought...

Best wishes,

Randy

[Anonymous]

Hey there,

Do you have a children's orphanage nearby that has the room to accept it and will be able to have it running without real intricate hands on all the time. Your gift from the heart, will bring a joyful smile to so many kids who may suffer from very little hope, that a gift such as this can really help inspire them.

Just a thought...

Best wishes,

Randy

[dknelson]

Oh and there are some real vultures out there.

Auctions sometimes involve near give away prices (which is why I like them ;)

Still and all -- the value of something is set by a willing seller and willing buyer ...

I think developing close friendships with guys who know the value and will hold out for fair prices on behalf of the widow is the way I have seen it done most often around here in Milwaukee. Sometimes the bigger problem is not that the widow is ripped off but that the widow has a wildly inflated notion of the value. Of course this involves guys who will out live you to work right!
Dave Nelson

[dknelson]

Oh and there are some real vultures out there.

Auctions sometimes involve near give away prices (which is why I like them ;)

Still and all -- the value of something is set by a willing seller and willing buyer ...

I think developing close friendships with guys who know the value and will hold out for fair prices on behalf of the widow is the way I have seen it done most often around here in Milwaukee. Sometimes the bigger problem is not that the widow is ripped off but that the widow has a wildly inflated notion of the value. Of course this involves guys who will out live you to work right!
Dave Nelson