I saw this somewhere else, but just had to post it here. The numbers just boggle the mind. I have no idea of who is right, but it's an interesting article in today's NY Daily News. http://www.nydailynews.com/news/200...dge_fund_hotshot_robert_mercer_files_l-2.html Hedge fund hotshot Robert Mercer files lawsuit over $2M model train, accusing builder of overcharge BY John Marzulli DAILY NEWS STAFF WRITER Tuesday, March 31st 2009, 4:00 AM A hedge fund hotshot's lawsuit over a toy railroad setup sounds more like the great train robbery than Thomas the Tank Engine. Robert Mercer is accusing the builder of overcharging him by nearly $2 million for the elaborate HO-scale model railroad constructed and installed in his Long Island mansion. Mercer, 62, contends in a federal suit that the correct amount due for labor and materials is more like $704,669, according to the complaint filed in Central Islip Federal Court. Mercer's lawyer Steven Pinks confirmed the figures are not typos, but declined to comment further. Mercer filed notice Monday seeking a default judgment against RailDreams Custom Model Railroad Design, in Michigan, and the company's president, Richard Taylor, for failing to answer the suit. Taylor expressed shock over the legal maneuver because he thought they were going to settle the matter out of court. "He [Mercer] is a hedge fund guy, part of the reason why the country is in the situation it's in," Taylor told the Daily News. The suit accuses Taylor of padding the bill "wrongfully and fraudulently," but he countered that like many large transportation projects, the costs ballooned as a result of the buyer's demands. Reluctant to discuss details of the railroad set, Taylor said it depicts a specific location in New York State with museum-quality detail and is about half the size of a basketball court. "To the discerning model railroader, a finished RailDreams layout is truly a unique work of art," the company's Web site crows. Taylor said a team of craftsmen was dispatched from its headquarters in Lake Linden, Mich., to Long Island to finish the job while Mercer's home in Mount Sinai, L.I., was being built. "We had to get it done for his daughter's wedding," Taylor said.
2 million...heck I spend that weekly on the railroad (in my mind ). All I can say is YIKES!! Maybe I am in the wrong business
Actually it ran off the track into a deep ravine a couple of months ago (which may be why Mr Mercer suddenly needs $2M in a hurry )
I hope that Taylor, the layout builder documented all those Change Orders. Home owners, etc. never realize what costs are involved from casual statements starting with "Gee, I think it would nice if......"!
It might be interesting to eventually know the details behind this case. Meanwhile, my big expense this week is a magazine... Boxcab E50
It won't look like mine. Well, maybe. If I find the right buyer. Does Mercer have a brother? Heeheeheehee !laugh:
I always thought the fun starts with the planing, then construction and senicing. Running is the end result.
I've often wondered how much these custom built layouts cost. We've all seen the ads in MR.... Keep in mind, the guy was billed $2 million but says it should have only cost about $700,000...... Even on Long Island, $700,000 is an awful lot for a house..... We're talking here about a $700,000 train layout!
I don't know how much this layout cost, but it claims to be the biggest in the world...... [ame="http://www.youtube.com/watch?v=PN_oDdGmKyA"]YouTube - Miniatur Wunderland *** official corporate video *** largest model railway / railroad in the world[/ame]
Not to get this thread off track, but the layout at this URL below is also a layout that was custom-built under commission for a well-resourced owner (2000 sq ft basement, 1:32 large scale) : Lackawanna Railroad Model in 1:32 Scale - available as a Movie Set Owners who can afford this kind of layout can be demanding (not surprising, it's their money and that's how they made money in the first place).... it's amazing to see what is possible... see the 'team' tab on the above URL to see the team that was commissioned to build it. Back to the original topic of this thread.... I hope a satisfactory outcome will be had for all in this dispute. Please keep us all updated on what happens.
Maybe the layout was built in the 12" = 1 foot scale? I'll bet the winners of this litigation contest will be the LAWYERS!
This one is going to be very hard to call. I'm guessing the 700k figure is based on supplies and general construction labor. I'm guessing the 2m amount is factoring in artistic skill. Would you charge da Vinci, Van Gogh, or Monet the same to paint a painting as you would.. say, me? You could try, but you'll get laughed at. First of all, I dont have the skill to paint "museum quality" work. Very few people have the ability to do anything "museum quality". Now, ultimatly with out seeing the actual quality/detail/size/functionality/ect. of the layout there is no way for us to judge. But assuming the piece is in fact museum quality, I think 2m has the posibility of being a very accurate figure.
