I am looking for information on getting a metric butt ton of model RR stuff appraised. My Father-in-Law has passed away and he commented to me shortly after being diagnosed with AML that should he pass I was to get the items appraised. So sadly I need to get this done. I am unsure of the scale he collected. I just know his layout takes up the better part of the basement and one whole upstairs bedroom. So any information on how to appraise or who does appraisals is much appreciated. PJC762 (Jim)
I'm not sure of any appraisers who do house calls... your LHS may be able to help with a refrence however. Regardless, with that much stuff, it'll be a major feat! What major cities are you near? Somebody might have some recommendations for you to start out with
Mike has stated the first criteria: where are you located? Then recommendations can be made as to which dealers to speak to and which to avoid like the plague. One word of caution, be very clear why you are getting an appraisal. If the idea is to sell, and you expect the dealer is going to make an offer, let him/her know you will be talking to at least three other dealers before accepting any offer. If for estate tax purposes you have a different motivation and the dealer may as well. Your best may be to work with a dealer who will sell the items for you and possibly guarantee a minimum while sharing any selling price over that amount with you. Unfortunately like any industry, there are dealers out there who will offer you about 25-30% of what they could pay you while still being able to sell the items and make a reasonable markup. They will tell you many stories about why they can't offer more. Others will try to work with you and get the best price possible.
Sell it yourself? If you like trains and selling stuff, you can take your time and go to shows,flea markets and even those indoor flea market-antique malls. The markets and value vary tremendously depending on the scale, age of equipment, even the roadname modeled and of course the quality. Nice brass models are worth much more than the common plastic stuff. The layout itself would be really tough. If it has some appeal and especially if its modular there might be a good market. Learn a few things first to get the best price, but if you always wanted a trainset, now could be your chance. With a good description, buyers make house calls for the good stuff. For me, the best appraisal is the highest offer to buy.There's a lot of free advice here. Heilung
Thank You everyone for your advice so far. I am located in Lake County Illinois about 40 miles North of Chicago. This is going to be a daunting task. I will be back here for more advice that's for sure!! JIM
First things first. Did you late father-in-law leave an inventory? Most modelers with that much invested have a computer program listing what they have purchased. It may or may not indicate what was paid, but that is not material. Some things are worth far more than they cost originally, but most are worth far less.
Hi Jim, The big shops that advertise buying used trains are Des Plaines Hobbies and Hill's Hobbies in Park Ridge. You could also try Destination Trains in Libertyville and Ron's Hobbies in Mundelein. I have not brought any of them used trains to quote, so I really can't recommend any for that service. I agree with the idea of getting at least three or four quotes or estimates.
Just make a list Just make a general list or describe it, or show a picture. You got us going now. Just describe what you have seen or know so far, and we can vicariously guide you through some of the steps. To get a dealer's interest, you need a description anyway. The "appraisers " are really dealers. If you are too busy, or not interested, just call the dealers and collectors. I would find it interesting to hear more about the collection. Im 1,500 miles away or I would stop by - if you wanted.
Actually I am not sure of my intention at this point. I am doing it because he asked me to . What happens to the trains is ultimatly up to my Wife and her Sister since they are the heirs. I am sure neither want them, except for a piece or two that they seem to like. They both mentioned the word garage sale which made me twitch. Being a collector of G. I. Joe items I know that most of these items are probably worth less than he paid. He did not have a computer and as far as records I have not found any yet. I know he saved the boxes to alot of things. I have not had the chance to really dig in as he passed away on Sunday. My plan is to take digital photos of everything and try to find the markings on what they are. As I said this board will probably be my one stop shop for information. I'll try to post daily after the funeral when I have a chance to start into working on this. I did a fast count on what was on the tracks today and saw 12 HO engines and 2 Lionel engines. There are literally hundreds of diorama trucks cars planes helicopters, and several ships. I am swimming in a sea of train stuff. I know I know oh if we all had that problem LOL!!! Thank you again for the input. I will be checking daily. Jim
Listen to that twitch! A garage sale would just about guarantee that you wouldn't get anything near what the items are worth!
Lionel Price Guides For the Lionel stuff, the Greenberg price guides give a good relative value among different pieces, and tells when it was made. You can then look it up in various catalogs, which is interesting for the old stuff ( for me before 1970). Absolute value just depends.
QUICK SAVE ALL THE BOXES YOU CAN FIND!!! PJC762, If you can match any items with the box they came in, it will raise the price! Wear the white Cotton Museum gloves when handling the items! NEVER with bare hands! If you must pack up any items for storage for any amount of time, carefully wrap any items in tissue paper, if there is no box with the original insert. DO NOT pack any item in foam next to the paint, because of chemical reaction that will ruin the paint surface and destroy the value! The HO items will have delicate details that can easily be broken off or bent, so handle them very carefully, and wrap the same as the larger items. Wrap each item separately, and add a printed label "what it is and what scale", for any item not in a box, after appraisal. Good idea to mark the appraised price on a tag and apply to bottom of each item as you go. Little self-adhesive dot type stickers work well for this, but DO NOT put the sticker on any box! That will lower the price of the box! Yes, even an empty box has value and can be sold without an item in it! Lionel stuff will usually go to collectors, and can sometimes be included in Auctions like Southby's. Same handling and packing advice applies for Lionel too. List all accessories, cars, trucks, rail cars, lights, houses, signs, and every item on the control panel! If you can't sell the two layouts as is, you can remove the track and turnouts and sell all that too! I assisted a lady who inherited her father's life time collection of Lionel equipment appraised at over $17,000.00, kept a few pieces, and donated the rest to a museum. She wrote to Lionel, who assisted, and recommended a couple of appraisers that worked on her items for several months to complete the several thousands of items he had. They even salvaged the wiring. So it is all valuable, but like one dealer told her early on, "I could probably give you maybe $3,000.00 to clean it all out, but after all, I would have a lot of work to do just to tear down the layout and haul it off to the dump, you see?" Like we say, take your time, and be careful who you deal with. Once it leaves your hands, you will have received about all you will ever get for it, and probably will never see it again. If they are Bonded and you have a good secure contract in writing, then you can rest a bit easier. This is NOT going to be an afternoon Saturday's job! If you want to talk with the lady, (Maria Bobrof) e-mail me and I'll give you her e-mail addy.
