Being part of the younger generation of model railroaders, I'll contribute some of my insight. I collected the prewar and postwar stuff for about 5 years. My father has been doing it for about 18 years now. We've seen the birth of eBay and the huge decline in values.
eBay is definitely becoming the new guide. Just type in a number and go to completed listings. I have a 2279WS with the 746 in it. No boxes but otherwise entirely complete, accessories track and all, conditions range from C5-C7. I paid $375 for the entire set from the original owner who received it as a Christmas gift. I could probably sell the whole set and make a good amount of money on it, but I'm way too attached to it. I know in 50 years it'll probably be worth next to nothing.
The main part of the hobby of trains now is railfanning. Decent cameras are cheap, and information is everywhere. Most people now will get started in that, and then get into models. Now, if you're watching real trains, and you want to model the things you see, postwar and prewar toy trains aren't the way to go. One goes to the scale models. And there's only one scale that covers a vast variety of prototypical modern models: HO. That's where most of this hobby seems to be nowadays, scale HO models.
Personally, I started with the I Love Toy Trains videos, and my father's collection. We'd go watch real trains every once in a while. Once I had an income, I started with my own toy train collection. But then I got into railfanning, spending hours next to the tracks, tracking special locomotives and trains. Then my attention shifted to the models. Now most of my funds is directed into scale modern models and custom painting some of them. If I see a postwar or prewar piece I know I don't have and like at a decent price I'll still buy it. I just don't avidly search for certain things anymore, and I never pay top dollar because I know there will always be another at a good price.
That's my input.
Trevor
