There is a large train auction Fri & Sat 9to 4 pm in Orchard Park New York. 6130 Scherff Rd. Auction by George Auctions.
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Here's a link:
http://www.salesbygeorge.net/sale1_p1_012916.html
Wish there was an on-line capability.... I'm not seeing one.
Peter
I'm taking my wife so she can see what to do after my final check out!
Thanks for the link, Peter. I have to learn how to do that. I have a friend who is a neighbor of this man. He says that this man has a ton of items.
tstark posted:Thanks for the link, Peter. I have to learn how to do that. I have a friend who is a neighbor of this man. He says that this man has a ton of items.
It certainly looks like it! Wish there was a way to bid on-line!
Peter
I'm from that area... Live in Rochester now, but I keep an eye on auctions of all types in the WNY area.
This auction isn't well advertised because this is the first I've heard about it.
EDIT: I think this might be a SALE, not an auction. With the bulk of items it would take weeks to auction them all off.
Matt Kirsch posted:I'm from that area... Live in Rochester now, but I keep an eye on auctions of all types in the WNY area.
This auction isn't well advertised because this is the first I've heard about it.
I agree.....this would be a great one to bid on-line....
Peter
I think it might be a SALE, not an auction.
Matt Kirsch posted:I think it might be a SALE, not an auction.
Good point. All the items appear to have cards or stickers attached. Should be a mad house when the doors open. Black Friday, take two.
Pete
I'm taking my wife so she can see what to do after my final check out!
Or what not to do. I don't think hiring a local outfit to conduct a house sale is the way to liquidate a collection. I'd suggest going with an outfit that specializes in trains and auctions with both live internet and in-person bidding. There are a few outfits that conduct their auctions that way.
Maybe... It's a matter of whether they want to get the absolute best price for everything, or simply get rid of it. My thought is that the latter is the case.
There's a lot less work and less overhead involved in just letting people paw through it all, take what they want, and cash out at the end.
There's a lot less work and less overhead involved in just letting people paw through it all, take what they want, and cash out at the end.
Might be even less work to just donate it.
From what I understand at least one of the auction houses will come to your home, inventory the stuff, pack it up, and transport it to their facility. That doesn't seem like any more work than hiring a local estate liquidation outfit. I don't know how the commissions compare.
Here is how I look at it:
I spent "X" dollars on trains, which has given me many years of pleasure (my kids too).
Once I am gone, its unlikely my kids will want to hold onto everything. Maybe a few special pieces at most. I like to think that my family will liquidate the rest, and use the money on things that give them pleasure.
Thanks for the post, TSTARK, and the link, Peter. From the pictures there appears to be a ton of new in the box items. I agree that it looks more like a sale than an auction setup. Might be time to "shuffle of to Buffalo" to check it out.
Wow, what a "collection"! He might even have more power than PCRR Dave.
definitely not an auction....just a home sale,garage sale style....really nothing to get real excited about.-Jim
This looks like an estate type of sale . When you go , you usually have to get a number or sign in on a first come basis. then you queue-up in line .There is a door man that will allow maybe ten people at a time into the house. As one person comes out , the next in line is allowed to enter. All of the items being sold are tagged with a price .I am not sure if you can haggle about the price. I follow a similar type of auction house in my area. I have been to several sales that had trains . Never bought any because their pricing was way too high for the condition of the trains .This looks to be a very good one if the pricing is right . I hope that anyone attending will give a follow up report . Jim
Wonder who keeps track to determine that this was the "Third Largest Train Collector in WNY?" As a friend of mine used to say, it looks like another contestant in the "who has the most unused trains sitting in boxes losing money until someone has to get rid of them" contest.
That should be a good one. That area of New York (Niagara Falls/Buffalo) has more layouts and trains than any part of the country. The area is loaded with some high end train guys with some high end layouts and knowledge of trains. I love going to the area as I have many friends and family in the area. I have my own room at the home of my great friend Frank Battaglia. Not a visit goes by that I am introduced to a few more layouts each time.
If this is like most of the estate sales my wife and I, more her, go to in WNY, there will be stupid money prices on everything on Friday. The real deals start at about noon on Saturday. However, I'm excited about it and will most likely stop by as I have business in the area on Friday. I can't wait to see if they have any half used bottles of Karo Corn Syrup for a buck or two!
C W Burfle posted:There's a lot less work and less overhead involved in just letting people paw through it all, take what they want, and cash out at the end.
Might be even less work to just donate it.
From what I understand at least one of the auction houses will come to your home, inventory the stuff, pack it up, and transport it to their facility. That doesn't seem like any more work than hiring a local estate liquidation outfit. I don't know how the commissions compare.
Here is how I look at it:
I spent "X" dollars on trains, which has given me many years of pleasure (my kids too).
Once I am gone, its unlikely my kids will want to hold onto everything. Maybe a few special pieces at most. I like to think that my family will liquidate the rest, and use the money on things that give them pleasure.
I suspect the estate liquidation outfit's commission is much lower than an auctioneer. Depending on the outfit and how they price things, they might come out ahead of the game.
One advantage here is that it's two days and done. An internet auction of a collection this size would take weeks. Then you're dealing with moving everything to the auction house, inventorying, unboxing, taking pictures, posting listings, reboxing, keeping track of each lot, answering questions from tire kickers, reunboxing things to get answers for the tire kickers, getting payments from deadbeats, packing materials, shipping, damage/loss in shipment... times 1000 in this case. The only ones making money would be the auctioneer and the post office.
The time to be there is right around 4PM on Saturday, to make an offer on whatever's left. Take it to train shows.
Then you're dealing with moving everything to the auction house, inventorying, unboxing, taking pictures, posting listings, reboxing, keeping track of each lot, answering questions from tire kickers, reunboxing things to get answers for the tire kickers, getting payments from deadbeats, packing materials, shipping, damage/loss in shipment... times 1000 in this case. The only ones making money would be the auctioneer and the post office.
All that is done by the auction house, not the consigner.
C W Burfle posted:Then you're dealing with moving everything to the auction house, inventorying, unboxing, taking pictures, posting listings, reboxing, keeping track of each lot, answering questions from tire kickers, reunboxing things to get answers for the tire kickers, getting payments from deadbeats, packing materials, shipping, damage/loss in shipment... times 1000 in this case. The only ones making money would be the auctioneer and the post office.
All that is done by the auction house, not the consigner.
True, but it also eats away at the bottom line.
I suspect the estate liquidation outfit's commission is much lower than an auctioneer.
I enjoy going to Estate sales in my immediate area. Once in a great while, I even get a train. It seems that most auction houses charge the consigner a 20 percent commission, plus a 10 percent buyers premium.
I looked up the fees charged by one of the best Estate liquidation outfits in my area. They are:
under $5,000 40 percent
$5,000 to $11,999 35 percent
Over $12,000 30 percent
All this written, what's best for one family, may not be what's best for another. While I have lots of notes and records, as well as having two kids who are extremely knowledgeable (my wife knows plenty too), we really have not talked about what to do. We have joked about it. 
Again, it's all about the priorities of the family. I understand it upsets some people to think that their most prized belongings may be sold with no regard for getting top dollar after they've passed on, but you have to have some perspective.
You can't take it with you. Sometimes there is just so... MUCH... ***STUFF***... that it's overwhelming, even for a professional auctioneer.
The house is for sale, so I expect they are trying to clear it out ASAP because that's where the *real* money is in the estate. Of course we are just speculating. Until we get reports from the first train guys to get in there and scope the place out we have no idea if they're going to fire-sale the trains, price them fairly, or shoot for the moon. My guess is they'll shoot for the moon.
breezinup posted:Wonder who keeps track to determine that this was the "Third Largest Train Collector in WNY?" As a friend of mine used to say, it looks like another contestant in the "who has the most unused trains sitting in boxes losing money until someone has to get rid of them" contest.
That's a good question, because the collection(and layout) pictured is rather paltry by WNY standards. I imagine it's just puffery bestowed on the liquidation outfit by the estate/heirs.
Did anybody go to this?
I think I found where most of this estate ended up.
Just came across an ad for a large estate of Lionel trains at Cash & Go Pawn in Depew NY.
Probably bought it for pennies on the dollar and now going to pawn (pun intended) it off as "rare" and "valuable" "antiques" for premium money...
