Very interesting discussion. The price guide issue comes up in many different hobbies.
In the used firearms arena, the price guides list notoriously low prices for all grades of used firearms (a good 15 to 20% low), and are primarily used by dealers to cheat folks when they sell their used guns to the dealers. ("Look right here, your gun is only worth X, and it says so right here in this book!")
If you are a buyer, you will never see any used firearm for sale at the guide book price. They are really low wholesale prices, not fair market value. The dealer at a show who buys as a used firearm will normally not put it out on his table for sale at that show. Why? Because he is going raise hat price by 20% and put it on his table for sale at the next show, arguing with a buyer that the piece is actually worth more than that and that he is getting a deal!
So, in the train world, is it really the case that used locomotives and rolling stock (even in the upper grades) are way overstated? Is there an objective or nefarious reason for this?
At least the little guy at our local flea market train shop is honest. When you bring in something used, he looks up the price in his book, shows you the price, and then says that he will only pay half of that. :-)
Mannyrock.
