Speaking of the used train market I now have an interesting dilemma.

My advice: thank him for the offer, and tell him no thanks.
If he puts something on EBay that you want, then bid on it.

If he decides you lowballed him on something later, you may loose a friend. Not worth it.
(It doesn't matter whether you did or not, it's his perception that counts)

C W Burfle posted:

My advice: thank him for the offer, and tell him no thanks.
If he puts something on EBay that you want, then bid on it.

If he decides you lowballed him on something later, you may loose a friend. Not worth it.
(It doesn't matter whether you did or not, it's his perception that counts)

NOT at all what I expected to hear. But - bam - it hits you right between the ears. Thank you C W, I will seriously consider your admonition.

If you know what the item is, do a search of the major auction site and see what completed items have actually sold for (not asking price).  That would be a fair offer if you have a sample of at least 2-3 sales.  Otherwise, I'd agree that steering clear of financial transactions with family and friends is usually the best path.

C W Burfle posted:

My advice: thank him for the offer, and tell him no thanks.
If he puts something on EBay that you want, then bid on it.

If he decides you lowballed him on something later, you may loose a friend. Not worth it.
(It doesn't matter whether you did or not, it's his perception that counts)

I agree with C W.   Let your friend set the price, for obvious reasons.  Since he is ready for EBay, let him post it.  If he wants to give you 'first option', suggest he tells you when they're posted, as opposed to you always searching.    

Just my $0.02, as a non-EBay user.....

Michael Hokkanen posted:

Second, I am not expert enough to just look at a picture and determine a fair market value. I could do so with stuff I am familiar with but these trains are a little older than what I have bought. 

It sounds to me like you really aren't interested in the stuff anyway! Might be best to express that up front.

I would buy only what I really wanted and offer the price it is worth to me to have it and I would explain this to my friend.In my experience being honest and up front does not lose you friends.

PLCProf posted:

Michael Hokkanen posted:

Second, I am not expert enough to just look at a picture and determine a fair market value. I could do so with stuff I am familiar with but these trains are a little older than what I have bought. 

It sounds to me like you really aren't interested in the stuff anyway! Might be best to express that up front.

 

He does have a Lionel A-A NYC "F" unit cigar band set that does interest me. He also had one or two hard to find dummy diesels. And, I am real SUCKER for NYC steam.....

Sounds like you need to get control of the situation up front.  Otherwise you're gonna get sucked into the process of this guy piecemealing stuff out on eBay.  Do you REALLY want to be part of that process?

If YOU want first dibs, arrange to review the collection.  Then purchase whatever calls your name at that time.  If you're not interested in having first dibs, then just bid or buy on eBay at the appropriate time.

Personally, the whole "24-hour window" thing rubs me the wrong way, and I wouldn't want or need to be a part of that arrangement.  How big is the collection?  It could take this guy months to release individual items for sale.  I'd much prefer to let the man know what interests me up front, and then be done with it.

David

Your friend will look at completed sales on eBay to help him set a price. If you do the same for the items you want the two of you should be close on numbers , then  you can buy your trains and keep your friend too.

C W Burfle posted:

My advice: thank him for the offer, and tell him no thanks.
If he puts something on EBay that you want, then bid on it.

If he decides you lowballed him on something later, you may loose a friend. Not worth it.
(It doesn't matter whether you did or not, it's his perception that counts)

VERY sound advice from C.W. !!! BTW C.W., autocorrect changed your initials to China - ??? 

Rocky Mountaineer posted:

Personally, the whole "24-hour window" thing rubs me the wrong way, and I wouldn't want or need to be a part of that arrangement.  How big is the collection?  It could take this guy months to release individual items for sale.  I'd much prefer to let the man know what interests me up front, and then be done with it.

David

Yeah, rubs me wrong too - but this guy is just one of those "I have to have a plan" type of people.

There are about 80 -100 pieces of rolling stock in the collection. One thing his dad did that I would never do is to buy several box cars in of the same RR w/same car numbers to make a train of look a likes.

Your "friend" hasn't contacted you in over two years but now that he wants to make money he does. If you have to have something he has for sale either make an offer that suits YOU, or make him price it. Sounds like its another family who thinks grandpa's trains are golden bricks. If you cannot get them at a fair, market value price just walk away.

Rob

Heck of a friend to give you the opportunity to buy from him so he doesn't have to pay ebay fees. I'd bet he'd be offended if you were to take the ebay fees off of your offer.  Run..,

Most non train folks think those of us who participate in the hobby will assist them in selling their "golden bricks" (I love that term and plan on using it from this point forward.  I am helping someone now liquidate his fathers accumulation (it would be remiss of me to call it a collection).  He offered it to me in almost similar circumstances.  I did not want any of it so we are trying to move it along.  Just because they have it and offered it to you doesn't mean you need it unless you really want that item or intend to flip it at a later date.  I suspect the offer was made out of innocence and perhaps a bit of ignorance.  Buy or don't buy, at least you made contact with an old friend, that has to be worth something don't you think?

necrails posted:

Most non train folks think those of us who participate in the hobby will assist them in selling their "golden bricks" (I love that term and plan on using it from this point forward.

So do I. Now you have it stuck in my head....

I would figure out a fair price on what you want then offer him a price . Don't forget to throw in the Friend Discount .

I would not get into it without seeing everything in person. I did this last year for a friend at work, though not post-war, just modern. Everything looked nice in pictures, but up close there were plenty of problems. For the nice pieces of rolling stock, I actually paid him a hair more than they were worth. The lone locomotive had some trim pieces missing, but I liked it, so I paid what I felt it was worth. Everything else I went low. I just explained what I was looking at, and how I came up with the prices. We both came away happy, but I admit I was a little uncomfortable at times, and I didn't have the time limit you are being hit with.

Honestly, I would kindly thank him and walk away. I have had fair weather friends like this that remember you when they want your friendship only to take advantage of your generosity and your interest. 

A true friend would have you over for a beer and then surprise you with a "pick of the litter".

DITTO!

What's it worth to you.......that's the value.....

If the collection is of interest to you then simply make him an offer that YOU feel comfortable with. It's impossible to put a market value on it with todays buyers. New items can't even bring 25 cents on the dollar. Too many non collectors still think old trains will pay off a mortgage. 

Rod Miller

If he depends on another person to set "his" price - even a nominal "friend" - then he has no lowball leg to stand on.

He's asking you  to "both buy it and sell it for him". Always iffy - and not your responsibility.

I wouldn't get involved at all - unless you can set a convenient time to view all the "collection" in an un-hurried manner, be given a chance to think overnight about interesting items and what they are worth to you, then make him an offer the next day (or some set time frame like that - he deserves to know when you're going to let him know, certainly), then make the offer(s). After that and the results of that, pay him and go home with your stuff, if any, and don't get involved any further.

Hi Michael, I'm touched that you take this so seriously. It's bad enough that we are addicted to this hobby but God forbid that infliction should ever degenerate us into acting like a drug addict alone with a friends wallet.

I was faced with this situation once or twice and rather then take a chance of cheating a friends loved ones I politely said the truth, I just don't know enough to be a responsible judge on value of my on stock let alone items I never saw before. For this reason I would direct them to a person who buys and sells  for a living. Of course I would inform the friends that these people do it for a living and they will most certainly need to make an honest profit but at lest they will know what is up.

Sometimes it's better to make fifty percent on a hundred percent of an items value then ninety percent on a third of an items value.

As for e-bay I have sold things there and I think it's a great market place but it is really tough to judge true value with what people are asking. I can ask a hundred  dollars for a ten buck item but can I get it?

Like CW said if there is something you want offer a fair price but step away from the whole collection. In these cases you can be dammed if you do and dammed if you don't.

J Daddy posted:

Honestly, I would kindly thank him and walk away. I have had fair weather friends like this that remember you when they want your friendship only to take advantage of your generosity and your interest. 

A true friend would have you over for a beer and then surprise you with a "pick of the litter".

You are absolutely right.   A beer and ask for some advice. Then offer you what ever you want at a real friends price.  Sometimes its all about those golden bricks

Seems to me I would offer on anything you have interest in.  He asked if you want you buy, I would feel free to offer what you want you pay.  If he does not like to price he can pass on your offer.

I'd walk too.  Not worth the headache.

I cannot say it better than CW did.....

Peter

After 2 years or so he ceased being a friend. A friend is some one you see more often . If there is any thing that catches your fancy , make a fair offer and move on.

C W Burfle posted:

My advice: thank him for the offer, and tell him no thanks.
If he puts something on EBay that you want, then bid on it.

If he decides you lowballed him on something later, you may loose a friend. Not worth it.
(It doesn't matter whether you did or not, it's his perception that counts)

Well said man. 

After 2 years or so he ceased being a friend. A friend is some one you see more often . If there is any thing that catches your fancy , make a fair offer and move on

That's interesting. I have friends that I don't see or speak with for a few years at a time. I've known some of them for around forty years. When we see each other, it's like we just saw each other the day before.

NEVER do business with family or friends.

I agree - but here are two more interesting ideas:

One - offer him a lowball price, and tell him it is lowball.  Give him a suggested eBay price.  Let him decide.  For example: "I can give you $300 for that pristine 1-700E, but you should know I see them all the time on eBay for $800."

Two - if he is a really good friend, offer him more than market for, say, one piece, and see if he reduces the price.   If he does, you know he is a friend.  If he doesn't, walk away from the rest.

If he was a really good friend and doesn't need the money he would give the items you want for zero if there are brothers involved let the other brother make a price for half their share.

A good friend of mine had a complete expensive workshop he didn't want to be bothered selling it, he offered me the lot for nothing as long as he could come over and use the tools when he wanted to I already had a workshop I took the whole lot and then kept what I wanted then we gave away or sold the rest we are still very good friends because that's what HE wanted to do, not me, my friend made the decisions I just followed with advice and helped him he was grateful.

I've gave lots of trains away I don't need the money I'm happy with what I have I'd give more away but nobody wants the stuff or they live to far away.

My friend above, was here yesterday working in his/mine workshop and by the way he willed everything I kept, over to me and his children witnessed it they didn't want nothing, we all ended up happy.

Roo.

If he was a really good friend and doesn't need the money he would give the items you want for zero if there are brothers involved let the other brother make a price for half their share.

Why? Do you go around handing out $100 bills to you friends?

I would ask to view the stuff in person, and then make an offer for what you want at price you want to pay.  No free service here.  And. when he spends the time to take pictures and list all the items, and get no interest, he'll see that the market is a hard one these days.  The only buyers out there are the ones looking to get rare or coveted items for little outlay of cash.  It's how the marketplace is these days for those golden bricks or other collectibles.   

I'd say this is my 2 cents worth of advice, but I'd probably be underbid.  

Why? Do you go around handing out $100 bills to you friends?

No, only possessions I no longer want and to my close friends. At 74 years old mate I don't have a lot of need for money anymore everything I have I own outright I don't have any debts what's the problem?

Roo.

No, only possessions I no longer want and to my close friends. At 74 years old mate I don't have a lot of need for money anymore everything I have I own outright I don't have any debts what's the problem?

The problem is telling someone else what they should do with their property. Obviously this person has an interest in the financial value of his trains and doesn't want to give them away. Maybe he could use the money.

Run away, been there.

Looking for a free appraisal.