Seeking advice on selling large number (>1,000) of model trains and accessories

Stout Auctions is one I see folks use a lot.

If the downsizing is going to occur in less than 2 years, then I would strongly suggest one of the services that purchase entire collections rather than trying to do it yourself on ebay or here.  I'm sure there's several members who will offer insight into these services along with appropriate recommendations/critiques.

Good luck!

Not enough information to give any kind of advice. First and foremost - do you need the funds to live on or are the funds 'fool around money'?  In which state do you live?  That may limit the options you have choosing an auction house if you go that route?  What is your tax bracket and what advice has your tax attorney given you regarding donations?  Are you comfortable accepting about 35% of what you paid if the items are liquidated via an auction?  If so, why not immediately list them at 55% on the OGR For Sale Forum?   John

That's a big task -- especially if you decide to sell each item individually.

I suggest you look at the most recent TCA magazine for advertisers who buy and sell collections.  I have personal experience with Trainz and Charles Siegel (https://www.traincity.com/adv_on_sell.html)

I recommend both.

Good luck.  

I think a reputable auction house is the way to go, especially if you have several scale-specific auctions for your various scales.

If you are in no rush  I'd suggest selling at local train shows. I do this.

It is like a combination of a once a month, Sunday social function and train sale. Price 'em right and they will sell.  I enjoy the experience.

I sold almost all my inventory through Facebook, Craig's list and here.  A couple of people bought bulk so that helped a lot.  Also most of my stuff was modern and I sold it at 30% MSRP, I took a bath but just wanted to get it out the door.

Ted Maurer Auctions in Pennsylvania is another reputable auction house.  In any event, using an auction house is probably the best course of action.  They will come and inventory everything, pack it up, take it to their facility, inspect and classify everything according to condition, and display it to it's best advantage.  They will try to get the best price for each and every item because the more you make, the more they make.

Choochooautions,TrainZ, will come to your location to purchase and pickup .

A gentleman  I use to work with sold his fathers large collection that way and was very happy with how it worked out.

Are there any train clubs in your immediate area ? If so maybe see if for a small fee or donation they would be interested in assisting you since some there could have knowledge of what you have,and may have the extra hands to help with shipping.

Where are you located?

I recently sold a large portion of my “hord” thru Ambrose Bauer auctions . Drew Bauer made only one promise to me and that was that he would “get me what my trains are worth” and he did just that. He sent two men and a truck to my house to pick everything up for a very reasonable cost. All in all the transaction was a very pleasant experience.

Brad

Reputable auction houses, some of which have been mentioned above, or a long-time dependable buyer like Mr. Siegal, are probably your best choices for fast disposal.

Thanks for all the suggestions.

I am in North Carolina, northwest of Charlotte.  I have sold at local shows, but my experience is that only the cheaper stuff sells.  Nobody at the local shows wants to shell out more than about $100.  Bigger shows like Raleigh or even York would require me to rent a trailer and I would need more help than just my wife.

RATTLER21, you ask some great questions.  I don't need the money to live on; it's more to build a fund for some projects I need to get done (not hobby-related).  I try to keep our charitable deductions in line with our income so as not to attract the attention of the IRS.  Valuing model train donations would be very subjective.  Given how many trains I have I wouldn't want to donate them all in 1 year.  I guess the auction houses could tell me about any restrictions regarding my living in North Carolina.

I have received mailings from Ted Maurer auctions.  Trainz is attractive since they are not that far away....they could probably make it a day trip to pick up everything at my house.  I will check out some of the ads in the TCA magazine.  I'll probably go with one of the auction houses.

For those of you who have used auction houses or Trainz, what do they do as far as reporting financial info?  Do they give you a 1099 or some other tax form?

Similar problem. But, i live in California. Will the mentioned auction houses come all this way?

Hello Vince. We are located just west of Asheville in Maggie Valley. 

A suggestion would be to post some of the nicer items here and give the OGR folks a shot at them at good prices and you may move off a substantial part at a decent price to you before you let the rest of it go at 30%

rex desilets posted:

Similar problem. But, i live in California. Will the mentioned auction houses come all this way?

You will need to call and ask each house (plus Chas. Siegel and Trainz) individually.

No one here can speak for them since their policies vary with the size of the collection.

Vince,

    Contact some of your local train clubs in your area. The club I belong to the Black Diamond Society of Model Engineers in Bethlehem Pa purchases collections and resells them in our company store to club members and people who are not members at our open houses and at local train shows. The money we raise is used for our club's operating expenses and it keeps our membership dues low.

     We buy complete collections as well as individual pieces. We pick up the collections so you do not have to ship individual pieces like you would if you use EBay.

       Good luck with selling your stuff.

JohnB

Reputable auctioneer such as those mentioned here is the way to go. Selling that many items yourself will take years and you will still be left with some items that are essentially unsaleable. Auction it all at one time is my advice.

if its a collection ,[50+ pieces ] , dont list it on here...too many people doing that now....auction  sale is the quickest,most painless, fastest, easy way to do it...

Several years ago, I sold a group of items (about 300) through Trainz an was pleased with the results.  I contacted them and they informed me when they would have a truck coming through the area (Eastern NC) which was several weeks out.  The gentleman and his helper got here on a Friday in a 24 foot truck after picking up items in New England, New York and Pennsylvania.  While talking with the driver, he said he schedules trips all across the US.  They evidently fly to the furtherest point, rent a truck and work their way back to Atlanta. There was an agreed upon amount charged for the pick up that was taken out of the first payment of items sold.

As items were auctioned off, I received a list of items that were sold that week, the price they went for, my portion and a check for my part.  It took several months before it was all gone.  Although seeing what some of the items sold for was a shock, the total added up to more than I had anticipated.

I was quite please with the whole process and would use them again should I find myself with similar items to sell.

Just so you will know, I sold the higher ticket items (what I like to call the lower hanging fruit which is more desirable) here on the forum and at local shows and these items were what was left over.  At the rate this group of items were selling, it would have most likely taken 7 to 10 years to sell them.

Good luck with your decision

Don

TrainPop posted:

Ted Maurer Auctions in Pennsylvania is another reputable auction house.  In any event, using an auction house is probably the best course of action.  They will come and inventory everything, pack it up, take it to their facility, inspect and classify everything according to condition, and display it to it's best advantage.  They will try to get the best price for each and every item because the more you make, the more they make.

Ted is now with Cabin Fever Auctions, they and Stout are both pretty good. Ted's daughter is running Maurer Auctions, I would stick with Cabin Fever and Stout first.

Jim

VinceL posted:

Thanks for all the suggestions.

I am in North Carolina, northwest of Charlotte.  I have sold at local shows, but my experience is that only the cheaper stuff sells.  Nobody at the local shows wants to shell out more than about $100.  Bigger shows like Raleigh or even York would require me to rent a trailer and I would need more help than just my wife.

RATTLER21, you ask some great questions.  I don't need the money to live on; it's more to build a fund for some projects I need to get done (not hobby-related).  I try to keep our charitable deductions in line with our income so as not to attract the attention of the IRS.  Valuing model train donations would be very subjective.  Given how many trains I have I wouldn't want to donate them all in 1 year.  I guess the auction houses could tell me about any restrictions regarding my living in North Carolina.

I have received mailings from Ted Maurer auctions.  Trainz is attractive since they are not that far away....they could probably make it a day trip to pick up everything at my house.  I will check out some of the ads in the TCA magazine.  I'll probably go with one of the auction houses.

For those of you who have used auction houses or Trainz, what do they do as far as reporting financial info?  Do they give you a 1099 or some other tax form?

 

 

A 1099 ?  I'm no CPA, but wouldn't you just be getting back some of your cash outlay, and not performing work that would call for a 1099 form ?

  In any event , good luck.

Once again, thanks for all of your responses.   

I plan to list many of the newer items here on the OGR forum.  I will also be listing large sets which I have no interest in shipping.  (C.SAM I hope you are interested ).  If anyone is interested in these items, you should take a short vacation in North Carolina...visit the NC Transportation Museum (a little over an hour from me) and then stop by to buy a bunch of trains. 

Many of the items are brand new in the box...box has never been opened.  Nearly all the other items have only had minor run time.

We have our first grandchild who is only 4 months old.  I think he may get some trains this Christmas...I'm sure his Dad will enjoy them this year. 

I will do some research on auction houses...several of you have mentioned your good experiences.  And, I know of one nearby club that runs some O gauge; I will see if they are interested in a donation of trains or possibly buying some of mine.

The only thing I know from buying for my parent's antique shop is that if you "cherry pick" and sell off the good stuff, if renders all of the left over items not interesting to a big buyer. And this results in having to sell the rest at very low prices just to get rid of it.