Conference lesreg::model_railroads

    re: -.1, Yeah, I agree. I guess that makes me (us) non-collector(s).
    Some aspects of brass pricing make sense, in that other things being
    equal, complexity really pumps up the price. C&O Alleghenys have always
    been high because they have every pipe, pump, and gizmo known to man,
    while some 4-8-4's (tending to be rather clean externally) are less
    expensive than some smaller locos. The "first of a series of only
    fifty" or "from the personal collection of Adolph Menjou" stuff just
    baffles me. I'm not willing to pay for that.

From: peachcreek@aol.com (PEACHCREEK)
Newsgroups: rec.models.railroad
Subject: Sotheby's brass auction
Date: 10 Mar 1997 13:52:22 GMT
Organization: AOL http://www.aol.com

Well... it was an experience.  I give a full report in Rail Line News but
here are some tidbits.

The range of bid prices from low to high for the total collection were
$540,500 to $707,650
The total sale price (hammer price) for the collection was $690,800, just
about 90% of the max bid prices.

models going for greater than suggested max bid			68
models going for less than suggested minimum bid		
159

Lot#	models bringing more than 2 times the suggested max bid	
281	PFM DM&IR M-3 2-8-8-4  		             8250	
229	PFM NYC S-1b 4-8-4	                           5000	
224	PFM GN 0-6-0		                             650	
156	NYC 1956 Lake Shore Limited		7500	
30	B&O 2-8-8-4		                            2250	
	Lots 281,229, and 224 are PFM pieces, Lot 156 is a whole train,
lot 30 is               Samhongsa piece. 			

Lot#	models bringing more than 3 times the suggested max bid	
302	Wabash M-1 4-8-2		19000	
303	KCS J 4-10-2		28000	
275	C&O H-8 2-6-6-6		13000	
276	N&W #600 4-8-4		16000	
212	Southern Ts-1 4-8-2	15000	
all of the above listed models are early PFM Crowns
No, I'm not making this up.  The KCS 2-10-4, the last item in the auction
went for $28,000. This was the HAMMER price.  Add to this a 15% buyers
premium and a New York sales tax of 8.25% and you get an ACTUAL cost of 
$34,856.50.  In 1963 this model sold for $169.00.  Now who says brass
isn't a good investment?
 
Do you read the tea leaves the way I do?  Where's the money? It's in the
early very limited production PFM CROWNS.

    These prices are way out of wack. The people must be nuts , rich or I
    would hope they really wanted that model for some memory reason and are
    willing to pay the price. I better watch my locomotives more closely.