Help with a Collection

[Bruce Bird]

All,

A longtime member of our N club passed away this week and he has almost a house full of various N scale equipment.  His family would like to liquidate it but they have no idea how to do it.  Are there reputable auction houses or vendors that we can pass along to them?

Bruce

[PGE-N°2]

It might be an idea to wait for a fairly large, well attended public train show and reserve a few tables of vendor's space. They could at least easily make back the cost of renting the tables. I saw this happen a few years ago at a show, and the family handily made several thousand dollars in sales after expenses. Of course, that estate was full of a lot of rare, collectable items that the buyers homed in on.

[peteski]

But just getting couple of tables at a train show does not solve the problem of pricing the items.

There are couple of estate buyers in the classifieds section of Model Railroader magazine. They have been advertising for years, so they are probably reputable. But I suspect that they will pay pennies on a dollar.

[eric220]

Any early (circle keystone) PRR stuff or PRR steam?

[VonRyan]

Any early (circle keystone) PRR stuff or PRR steam?

+1
And woodside reefers!


-Cody F.

[PGE-N°2]

Pricing is always the stickiest issue because assigning retail value to hobby items is a very grey area, especially for used items or highly collectible items. The values fluctuate, and everyone is always looking to get a deal will try to avoid paying full resale value if they can.

[LV LOU]

I wouldn't get involved in trying to sell the stuff.My life long best friend died a few years ago,I helped his brother sell his gun collection.There were 300 or so guns,knew exactly what they were worth,ended up taking five three day weekends out of town,still had stuff left.Then there's the OTHER family members to deal with,there's always the one who thinks everything is worth ten times what it really is worth,the sister who does nothing,but wants every PENNY of her cut,ETC..NO GOOD DEED GOES UNPUNISHED...
   Don't get involved other than giving information.As far as auctions,or buyers,look i the back of Model Railroader,Trains,ETC,most list estate buyers and auction houses.Check out the auction houses for their rates,too.Some will take X percentage of the selling price up to a certain amount,then reduce the rate,others get their percentage for every dime.The differences can be staggering in the end..

[Mark.S+10]

If they are willing to put in a little work, have them list the items on eBay.  This will insure they go for market price and they will get more than selling to a liquidator. 

Have fun, Mark

[Ike the BN Freak]

I know n scale supply buys stuff, but from what I've heard, you have to send the collection, where he gives you what he is willing to pay, and if you say no, you have to have it sent back.  Not sure if he pays return postage or you do.

I know at the local train shows some of the dealers will buy left overs from tables as everyone is packing up to leave.

[mecgp7]

Bruce,
If you want to get a fair price on any of it, the first thing that will need to be done is an inventory. Then there are plenty of knowledgeable folks that can tell you what you've got. You could take some pics of groups of items and people could do the same for you. It could be as simple as, what you've got isn't worth much or you have some stuff that is worth trying to market. Basically, I am saying to determine what you have and then make the decision.

EBay would be a decent market as bidders determine the market value. You can set your minimum and, most importantly, you'll get paid in a reasonable amount of time. I'm not saying you need to list each piece separately as you can sell groups of items. Knowing what you have would allow you to group like items. Not all locos are equal, for example.

Sorry for your loss. Times like these are a reality check to what is truly important.
Clint

[pjm20]

Any early (circle keystone) PRR stuff or PRR steam?

+1

[CBQ Fan]

It has been a long time since I did this but N Scale Supply will give you a quote on what you are offering with the understanding a visual inspection and verification of type and quality will confirm the offer.  As I recall you pay shipping out and they pay return shipping if there is an issue.  I would hope they pay a little more than they used to since their pricing is almost MSRP or more, when in the past their used items where better deals.  I did just buy an Intermountain F unit and it was a decent price and good quality.

[LV LOU]

If they are willing to put in a little work, have them list the items on eBay.  This will insure they go for market price and they will get more than selling to a liquidator. 

Have fun, Mark

Probably THE best way to sell the stuff,but if the family isn't knowledgeable,you'd need someone to sell the stuff...

[TiVoPrince]

Knowledge
and professional experience are worth paying full price.  Free advice is worth exactly what you paid for it. 

Hiring a third party without emotional involvement should provide the family the best results overall.  Often the inclination to help someone in a time of need becomes a disaster with hurt feelings and friendships lost.  If you are not a strong swimmer, don't try to rescue a drowning man.  Throw a foatation device, get a lifeguard, or call 911 but don't get in the water and create an even bigger problem.

Novices selling on auction sites really don't know the product so they don't get full value.  How many actions have you seen that begin 'I don't know much about (whatever) but this looks like a good one'.  True or not along with small number on a feedback score may not mean a great return overall.

[engineshop]

I would give the family options: ebay, train show, LHS. But don't get personally involved. Don't even check out the collection so you won't get tempted to make an offer on some of the items. One of the family members or all of them will accuse you of cheating. The might be the Brady Bunch now but ...