I have what some would consider "hard to find" pieces but don't consider anything rare and valuable. The days of the PW collector are behind us. We all have to accept that values are falling and eventually the market will shrink to where supply far exceeds demand. This doesn't take away from the joy of the hobby today but it must be understood that the demographics are changing.
Bill Responded:
I understand what your saying but with the prices I see them going for on the bay I sometimes wonder. And the last Stout auction I watch also. To me it depends what your looking at. I.E. 6465, 6012, etc yes your lucky to get $5 for. But cars that are not that common Still seem to be bringing a nice penny or two. Now are they bringing what they did 10 years ago, maybe not but I believe there will always be a collector value for a lot of the postwar/prewar era. The most common already exceeds the demand but the rare cars like 3820, or 6820, or better yet 6500 there will always be a high price on cars like that in very good to excellent condition.
I can say the same of these new expensive engines also that your saying about postwar as the amount may not be that many built but they're not keeping their value either.
A lot of participants on this board like to put down postwar Lionel trains, and Collectors. Truth is, there are still plenty of collectors who are interested in prewar and postwar Lionel. And the number of collectors who want the earlier Modern era Lionel trains is growing. All this is evidenced by the activity and prices realized at auction and on EBay.
Collecting takes up less room than operating, and collecting things in general is a popular hobby. Folks collect all sorts of things. IMHO, collecting toy trains will outlive "O" gauge model railroading by many years.
It was inevitable that prices would fall on all but the best stuff. Prices were over inflated, and for the most part, the bubble has burst.
There is good news in that bubble bursting, it makes the hobbies of "O" gauge model railroading and collecting affordable for more people if they can look past having the latest and greatest stuff. It may not be good news for the wholesale/retail "O" gauge toy train industry, as lower prices on used trains makes the prices on the new stuff seem even higher.
For years I've been saying, when the prices collapse on trains, that just means I'll be able to buy more stuff. Hurrah!