Skip to main content

There is a very interesting article titled "Dream of Dreams:The Quest for One of Lionel's 'Holy Grails'.  The short article talks about a set that sold for $350 in 1931.  The set consisted of a brown 408E State Set and a 400E work train set.  There were also numerous accessories and track in this amazing single set.  The author is Martin Folb,owner of the famous green and black 400E State Set.  Check out this article(with photos),it is most interesting.

 

Norm

Original Post

Replies sorted oldest to newest

It is hard to imagine paying $350 for trains during the Great Depression.  I guess that is why so few sold.  There were many extras offered in this set: Hellsgate Bridge,operating cars,track,switches,station,transformers,crossing gates,signals,transformers,rheostats,bumpers,tools,#195 Terrace,lockons and more.

In today's market is it safe to say that this would be priced at around $5000?

Can you imagine the set boxes for this set?  Not all of them survived,I guess.

 

Norm 

Last edited by Norm

  The benchmark I use to assess the cost of something from the 1930's is my Father's first paycheck.  In 1938 he began work as a teacher and the pay was $75/month.  So , even if the set had been available in 1938 and at the same price, it would have still amounted to almost 5 months wages.

 

  By the way, not to hijack this thread, but there is also a great article in the latest Q on a presentation AF Zephyr set - all in all it's a great April issue.

Two years into the Depression.....$350.00 was big bucks on the bread lines.  I need to

check and see what a new six cylinder 1931 Chevrolet would have cost, and then to

see how many makes of cars $500 would have bought.  Dunno if you could have gotten

one of Billy Durant's Stars for that $350, although I think Stars were all rebadged as Durants in this, their next to last year.  I am sure the number if makes, if I do this

research, will depress me.

I was able to see the layout in operation. Not sure of the size, but maybe a 30 x 30. It was set up on a portable stage. If you look at the Lionel catalog page and then the pictures of the layout, that shown in the catalog appears a lot more compact. While it was very impressive, I felt the large size and distance between accessories etc diminished the overall visual appeal.
 
Steve
 
 
Originally Posted by trainman713:

Great article...Does anybody know the size of that layout?

 

Jeff Davis

 

Using my magnifying glass:

8 switches,2 bumpers,47 straight track,20 curved track,2 half straights,and 16 lockons were part of this set.  With 2 switches, I counted 26 more straight tracks on the outside loop and a total of 24 straights on the inside loops plus 6 switches.  I had a hard time figuring out where the 1/2 sections were used.  My count may be off by a couple. 

It looks like the outside length of track equals the length of the State Set.

Norm

 

A couple of other mile stones to give perspective to price. 1967, the year I graduated high school.  Minimum wage is $1.40, first job, away from the farm, was 1.65/hr.  College graduate (4year later) 1971. Teacher salary was $7,100/year.  My guess at $350 in 1930 would have been a years earnings.  My grandfather a dentist, fresh from Pitt Dental School, 1930's struggled. He was still collecting bills into the 1960's. Never turned anyone away.   These little blimps, remind me of so much we take for granted. 

Thanks Norm, great way to start the day. 

 Mike CT  

Last edited by Mike CT

Thanks for posting this. I enjoy the TCQ very much. Of special interest to me in this issue is the article about the HO tin lithographed equipment made by the Japanese company Nomura. A friend of mine purchased a passenger set in very nice condition and I'm happy to have found information which I can pass along to the owner. I even found this video about Nomura trains on YouTube:

 

Bob 

Using the listing in the 1931 catalog there are 47 straights (S), 20 curve (C). The actual number of straights is 50, but three of them are SS, these came with the #80 Semaphore, #78 Train Control and #69 Warning Signal. The half-sections are used between the pairs of switches located on the sides of the inner loop.
 
BTW Altho Lionel states the track plan is 12' x 11' it is really 12' x 12'. There are the same number of straight sections on each outside leg. Lionel has a lot of accessories included but they also supplied two #23 bumpers that are not in the pictured layout.
 
Ron M
 
Originally Posted by Norm:

Using my magnifying glass:

8 switches,2 bumpers,47 straight track,20 curved track,2 half straights,and 16 lockons were part of this set.  With 2 switches, I counted 26 more straight tracks on the outside loop and a total of 24 straights on the inside loops plus 6 switches.  I had a hard time figuring out where the 1/2 sections were used.  My count may be off by a couple. 

It looks like the outside length of track equals the length of the State Set.

Norm

 

 

Last edited by ron m

Hi, this is Dr. Martin Folb from Los Angeles, and I just received a note from Mark Boyd regarding some responses about my article in the TCA QUARTERLY. In order to insure the smooth operation of the display, I decided to re-design it using wide radius track & switches. As you will see in a note that will appear in the next "Drumhead", I wrote the following:

"I very much enjoyed seeing my article published in the April 2015 TCA Quarterly, and have received many very nice comments from people who have read it. These historical “re-enactments” of some of Lionel’s greatest outfits, give us a perspective on what the fortunate recipients must have experienced on that special Christmas morning over eight decades ago! It truly was a “DREAM OF DREAMS”

I wanted to correct two very minor mistakes in the article. First, the catalog illustrated was a 1930 issue, not a 1931. The 407E outfit was essentially the same both years, but the major difference was that in 1930 it featured a 390E & T, while in 1931 (its last year) the new flagship of Lionel, the 400E & T, was the motive power for the Work train. This was the 1931 outfit.

The track design was a faithful emulation of what was shown in the 1931 catalog, the only difference being that the curves were replaced with 72” Wide Radius track, and the switches were also wide radius. I am absolutely convinced that if the Depression had not occurred until the mid 1930’s, Lionel would have introduced Wide radius track for these now larger locomotives and cars. They did introduce Wide radius “O” gauge in 1934 for their streamliners, but by then the party was well over for Standard Gauge! It is also interesting to note, that if the 407E was configured exactly as shown in the catalog with standard radius track, the Brown State set and the 400E work train were forever doomed to stay in their respective loops! Only the very small Lionel passenger cars or some freight cars could navigate the two switches, set up in an “S” curve to transition from the outside to the inside!!

With regards to the operation of these trains, I very much enjoyed Larry Archer’s note about the 381E that was sitting on a 408/402 frame in the photo from the Christmas issue. I contacted Ed Eberl, the man whose grandfather set up this layout. He told me: “I’m not surprised that my grandfather would have modified things, it runs in the family”. You have to do some major modifications to put a 381E cab on the 408 frame, so it was obviously something that a service station would not have done.

Finally, there has always been an “URBAN LEGEND” that the State Green 408E was produced to placate owners unhappy with the performance of a 381E and 4 State cars. If the locomotive is serviced properly and the cars are well lubricated, the train will run reasonably well. It will perform a great deal better with the 72” Wide Radius track. If you purchased a 411E set in 1929 (the only year that the 381E was offered with 4 State Cars), the set would have included 8 curved and 16 straight sections. If no additional track was purchased, and the track that came in the set was set up as an oval (8 straights on each side and 4 curve on each end), the 8 straight pieces would span 112 inches. The train itself was 108 inches in length, so the set would barely be on the straightaway before it had to negotiate a 180° narrow radius curve! Anything less than perfection in the trains performance, would have doomed the proper operation of this very expensive ($110 in 1929) set!"

 

The original layout was 12' X 11', and the Wide Radius version was 16'9" Square.

 

 

 

407E - WIDE RADIUS with parts list

This is a computer generated image of the plan that was executed. It retained exactly the same geometry as the original 1931 Layout. As I mention in the "Drumhead" response, these large trains could have NEVER negotiated the S curves shown in the layout! 

_DSC9195

The layout was a bit spread out with the wider radius track, but still was quite extraordinary. It would have helped if we could have displayed it on something other than a large black set of platforms!

One of the questions was: "What would $350 equate to in todays money?" I can give you a very good estimate based on sound quantitative analysis. Historically, in normal economic times, inflation doubles prices every 10 years. If we take the $350 in 1931, then 84 years later, we have gone through 8.4 cycles. $350 x 2 to the 8.4 power= $118,228!! This does not even take into account the rarity or art aspects of these items! I can assure you, that if any of you have a mint, boxed, complete 407E set out there, I will gladly pay you $120,000 for it!!!

 

Here are two photos of the actual display as we set it up:

_DSC8942ps

 

_DSC8986psThis was the Sequel to the 2013 Exhibit at Cal-Stewart, "LIONEL STANDARD GAUGE-THE GATSBY ERA". Here are four photos from that exhibit. All of the trains you see on display are like new or better and most with original boxes!

_DSC9542 [Black Background)

_DSC9508

_DSC9565

i

_DSC9600It was a tremendous effort putting both "Gatsby" displays together, but for many people they were able to see these extraordinary trains looking at they must have over eight decades ago!

Attachments

Images (8)
  • 407E - WIDE RADIUS with parts list
  • _DSC9195: TOP DOWN VIEW OF TWO STATE CARS TRYING TO GO THROUGH A 42" DIA. "S" CURVE
  • _DSC8942ps: "DREAM OF DREAMS"-SET UP AT the 2014 CAL-STEWART MEET
  • _DSC8986ps: 411E BROWN STATE SET & 358E 400E WORK TRAIN
  • _DSC9542 (Black Background): LIONEL 433E, "THE 20th CENTURY" WITH MANY OF THE ORIGINAL BOXED ACCESSORIES THAT WERE PART OF THE BENDIXEN ORDER!
  • _DSC9508: ONE SIDE OF THE "GATSBY ERA" DISPLAY
  • _DSC9565: THE BLUE COMET & IVES TRANSITION SIDE
  • _DSC9600: THE OTHER END OF THE DISPLAY FEATURING AN OPERATIONAL 1924 FREED EISEMANN RADIO AND A HERALD DIAMOND HORN

I was a little confused by F&G RY's use of the word "CROSSOVER"-lol! To me, a crossover is either something like a Lionel 20X (45° or a Lionel 20 (90°. I just call them "SWITCHES" or another term that is used is "TURNOUT". In any case, I am sure that there were many other possibilities for how this layout could have been designed by Lionel in 1931, but this is what they went with and what we emulated in the "DREAM OF DREAMS" display. I was curious after looking at F&G's photo (I assume this chap has an actual name- I hate to keep calling him F&G-lol), if the 407E could have been reconfigured to avoid the "S" curve. So, I did a re-design using 42" Track and switches which is how the layout was configured in 1931. Here is the result with a parts list:

Here is a link to the "DREAM OF DREAMS" Layout in operation at the 2014 Cal-Stewart Meet: https://drive.google.com/file/...Wm8/view?usp=sharing

 

407E with Standard Radius and No S Curve & Materials

Now, if you study either this plan or the original 1931 design, you notice that there is NO WAY to reverse the direction of the train! I came up with a "permutation" that still maintains the original look, but allows for reversing direction. This one is created with all Wide radius (72") track. Here it is:

 

 

LIONEL 407E-COMPLETE ORIENTATION MATCHES CATALOG-with reverse

The most fascinating design is yet to come. I have a copy of a 1933 Lionel Blueprint that was intended to be used for some type of Dealer Display, although I don't believe it was ever actually done. Here are a few photos of the Print, obviously with 42" curves and switches.

 

 

1

2

 

4

I thought this was one of the most fascinating designs I had ever seen, so I decided to try and reconfigure it for Wide Radius. Here was the first incarnation of that design:

 

Lionel 1933 Layout-FINAL-Plan View

The train would reverse direction once inside, but once it exits to the outside it would be going in its original direction. So, the next diagram, shows it with true reversing capabilities:

 

Lionel 1933 Layout-FINAL + REVERSE-Plan View

This design was fantastic, but a bit too wide for the room I wanted to set it up in (temporarily)! However, here is a simulation video to show how it would work:

 

The final design for the room was the following; made it a bit smaller but kept the reverse capability.

 

LIONEL 1933 LAYOUT-FINAL + TRUE REVERSE [SIZED FOR ROOM)-BACK TO BACK SWITCHES-19 FEET LONGand a 3D View:

 

Lionel 1933 Layout-FINAL+ TRUE REVERSE [SIZED FOR ROOM)+BACK TO BACK SWITCHES

After all of this, here are some actual photos of this layout, and a video (not the best-didn't have my new Nikon D4S at the time to shoot a more professional quality).

 

_DSC3171ps

 

_DSC3174psint

 

_DSC3625

_DSC3627

_DSC3641

_DSC3652

_DSC3676 B & W

_DSC3676

_DSC3677

_DSC3685

_DSC3694

If you would like to see this in operation, go to this link: https://drive.google.com/file/...T0U/view?usp=sharing

 

I have had a great deal of fun setting all of this up, and seeing these trains in operation; I refer to them as "MOVING SCULPTURE"! No one is as obsessed with condition collecting anymore than I am, but if you are careful you can enjoy the operational beauty of these trains as well as their "aesthetic" qualities. There are many high end collectors, with fine collections, that have relegated their trains to the status of "SHELF QUEENS"! I feel that if the Nethercutt Museum in Los Angeles is willing to take this car out on the highway- The Duesenberg "20 Grand"- worth probably $30,000,000, I can run a $100,000 train set!!

 

I don't think I would ever want a permanent layout; I know how my mind works, I get bored easily and am always looking for new challenges (it's the Physicist in me) and love the notion of designing and re-creating some of the wonderful layouts shown in the Lionel Magazine. I would have a large surface available, and every 6 months or so use my "Palette" to start a new creation. I hope you all have fun looking at these photo and videos.

 

20 Grand int

Attachments

Images (21)
  • 407E with Standard Radius and No S Curve & Materials: 407E with Standard Radius and No S Curve & Materials
  • LIONEL 407E-COMPLETE ORIENTATION MATCHES CATALOG-with reverse: LIONEL 407E-COMPLETE ORIENTATION MATCHES CATALOG-with reverse
  • 1933 Lionel Dealer Display Blueprint: 1933 Lionel Dealer Display Blueprint
  • 1933 Lionel Dealer Display Blueprint-2: 1933 Lionel Dealer Display Blueprint-2
  • 1933 Lionel Dealer Display Blueprint-Showing Dealer Display Designation "D-6": 1933 Lionel Dealer Display Blueprint-Showing Dealer Display Designation "D-6
  • Lionel 1933 Layout-FINAL-Plan View
  • Lionel 1933 Layout-FINAL + REVERSE-Plan View: Lionel 1933 Layout-FINAL + REVERSE-Plan View
  • LIONEL 1933 LAYOUT-FINAL + TRUE REVERSE (SIZED FOR ROOM)-BACK TO BACK SWITCHES-19 FEET LONG
  • Lionel 1933 Layout-FINAL+ TRUE REVERSE (SIZED FOR ROOM)+BACK TO BACK SWITCHES
  • Lionel Set #432E with Crackle Black 400E-no accessories set up yet.: Lionel Set #432E with Crackle Black 400E-no accessories set up yet
  • _Lionel Set #432E with Crackle Black 400E-no accessories set up yet.-2: _Lionel Set #432E with Crackle Black 400E-no accessories set up yet.-2
  • Lionel Magazine Worthy!!-1: Lionel Magazine Worthy!!-1
  • Lionel Magazine Worthy!!-2 (1930 Blue Comet set): Lionel Magazine Worthy!!-2 (1930 Blue Comet set)
  • Lionel Magazine Worthy!!-3 (1930 Blue Comet set): Lionel Magazine Worthy!!-3 (1930 Blue Comet set)
  • Lionel Magazine Worthy!!-4 (1930 Blue Comet set): Lionel Magazine Worthy!!-4 (1930 Blue Comet set)
  • A real Lionel Magazine Type Shot-Black & White!: A real Lionel Magazine Type Shot-Black & White!
  • If the Lionel Magazine had only been in color! lol: If the Lionel Magazine had only been in color! lol
  • What it would have looked like on Christmas Morning, 1931, if you lived at 640 5th Ave. in NYC and your last name was VANDERBILT!!!: What it would have looked like on Christmas Morning, 1931, if you lived at 640 5th Ave. in NYC and your last name was VANDERBILT!!!
  • The "Vanderbilt" Fantasy-1: The "Vanderbilt" Fantasy-1
  • The "Vanderbilt" Fantasy-2: The "Vanderbilt" Fantasy-2
  • Duesenberg "20 Grand": Duesenberg "20 Grand"
Videos (1)
1933 Lionel Display with Reverse Loop-Simulation Video

There are several ways of finding a persons real name on this forum. The first place to look, is the signature line. Mine is Jim C.. Following that one can click on F&G Ry which is the name of my model railroad. It stands for Ferncliff and Greenpoint Avenues the street corner I live on. Anyway clicking on my screen name will bring you to information about myself. One thing is my e-mail address jcottzolla@ verizon.net. It is not a great leap to realize my real name is Jim Cottzolla. I also have a avatar with a photo of myself.

 

In railroad terms a crossover allows a train to change from one line to another. In the track plan I posted a train is allowed to cross from the 84 mainline to the 72 mainline and vice versa. My approach allowed me to make the crossover without a S curve. Today Ross makes a #4 turnout which allows crossing between two mainlines on a straight away without a S curve.

 

The 20X and 90 degree crossovers are really crossings.

I think it is just a matter of how we get used to the names of these devices. I have always called them "crossovers", the catalog calls them "crossings"! lol The most important thing is how they add to the excitement of the layout. I have never had any desire to build a layout to scale; I prefer the "toy" look, and the more tinplate looking and non-realistic it looks, the better I like it!

 

Everyone that saw both of these layouts was as excited as I was to see them in operation; the "DREAM OF DREAMS" display, which was done at the Cal-Stewart meet, fascinated everyone as you don't often get a chance to see trains of this caliber in operation. It was fun for me too! BTW, I am fairly new to this site, but no matter where I click I never did see your email address. I did miss your name, Jim C., when I first saw your post. It's much easier to call you Jim then F&G RY!! lol

 

I had a blast when I set up the 1933 modified design at the house. I belong to a group here in Los Angeles that meets once a month at each others homes to run trains. I had the doors to the dining room closed, but all of the accessory lights on. I told the group to imagine this scenario; it is Christmas morning, 1932, you live at 640 5th Ave. in New York City, and your last name is VANDERBILT! Your father and the butler have worked all night to set this up for Christmas morning, and this is the result!! I was paid a real compliment by the teenage son of one of our group, who upon seeing the layout in the dining room, told me it was really SICK! (Translation: AWESOME, COOL)

Click on any forum members screen name and you will go to another page. The left side shows the members previous posts.

The right side has a column under the advertisements there is "extended profile". This is where members can tell more about themselves. Giving a personal e-mail address is optional. I posted one many do not.

Thank you (ADRIATIC) for your nice thoughts. As I mentioned before, I regard these trains as "MOVING SCULPTURE" and in that mindset I think they must "MOVE"! As I only collect Standard Gauge Trains in absolutely premium condition (most with original boxes), I also feel a responsibility to maintain them in that condition and preserve them for future generations. I neither want to run them to death or let them rot on a shelf , but rather achieve the best of both possible scenarios! I think I would refer to it as "conscious curating", where I maintain their elegant and pristine condition and at the same time enjoy their equally appealing status as "mechanical art"! These extraordinary trains are finally achieving a place in the World of collecting that they so rightfully deserve. While not quite ready to achieve the stratospheric prices of a Gustav Klimt painting of Adele Bloch Bauer ($135,000,000) or a Picasso- “Les femmes d'Alger (Version ‘O&rsquo” ($179,400,000), they have been noticed by as prestigious a publication as The Robb Report. I am enclosing some scans from an article that was done about one of my acquisitions, The 20th Century Limited (Lionel Set #433E), as well as a few other collectors including Ward Kimball (who was a good friend of mine).  

1

2

3

4

5

6

7

Attachments

Images (7)
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
Hello Dr.,
 
I really like that track design, almost as much as your trains!  Absolutely beautiful.  I'd love to duplicate that track design in a smaller way for my new private train room layout.
 
Thanks so much for sharing!
 
 
 
Originally Posted by Dr. martin A. Folb:

Hi Norm, what I like about all of these designs is that in order to achieve the reversal of direction or get the train to move from one loop or configuration to the other, the kid at the controls has to think ahead! The operative word here is THINK!

 

I'm glad you enjoyed seeing it. When I shot the video, it was the day after I hosted the get-together and I was all alone in the room watching the trains run. I was completely isolated from the rest of the World and I must say it was DELIGHTFUL (as Teddy Roosevelt used to say)! I should add one interesting point which reinforces the great and lasting quality of these Lionel Standard Gauge Trains. I had placed a little clear tape on the sides of the 45° crossover center frog as sometimes a wheel from one of the cars, that had a little extra side to side motion, would short out as it contacted it. I inadvertently got a little extra tape on the top surface, and didn't realize it until the State set stopped while on the crossover! I wondered how this could happen since the 408E has two motors and obviously two sets of pickups. Believe it or not, the motor that did not have the E-unit somehow had gotten disconnected and was NOT EVEN RUNNING!! So, the other motor was dragging along a DEAD MOTOR and FOUR BROWN STATE CARS!! So much for the theory that a 381E could not pull 4 cars!! I fixed the problem and it really took off! BTW, in that video shown here, it is running with just the one motor!!!

I am including a link to one more video. As I mentioned previously, I belong to a group that try's to meet once a month to operate trains at different member's homes. This video was shot at the home of Jim Kurten, an early TCA member who was 97 when we shot this. Jim almost made it 100, passing away at 99! I had just acquired an absolutely new in the box Mojave 408E set, and we decided to hook up that locomotive, my State Green 408E and Apple Green 408E with 7 of the passenger cars including several of my Dark Green ones that came in a boxed 348E set (weighted 380E with 428,29,30). As you can see, it ran flawlessly and keep in mind that all of these cars are LIKE NEW ORIGINAL PIECES!! Here is the link to the video:https://drive.google.com/file/...clE/view?usp=sharing

If you go to the internet you will find the US Government CPI inflation calculator. 

$100 in 1931 would be worth $1556 in 2015 after inflation or a factor of 15.6.  Using rules of thumb like doubling every 10 years implies a 7.2% compound rate each and every year which fortunately has not taken place. Thus the $350 expenditure in 1931 is equivalent to $5460 in 2015 dollars.  To be sure, certain items such as health and college tuitions have escalated at a much greater rate, but these have been offset by dramatically low rates for capital goods and other sectors. 

 

Lew Schneider

That is simply not correct! In the case of real estate, collectibles and art, the rule of 10 is exceptionally accurate. Try to buy anything of quality that sold in 1931 for 15.6 times that price today; its not going to happen!! If you believe the US Government CPI calculator, I have some Beachfront Property at Mt. St. Helens that I can offer you at a very friendly price!! Remember, the government is telling us that inflation is almost non-existent now. Have you priced housing, food, gasoline or anything else recently???? 

Here is the link to the broad CPI index trends going back to the early 1900s.  You can

go into the data base and find different categories.  The key point is that the USA in contrast to many other countries in the world has not experienced runaway inflation for

the past 125 years.

 

http://inflationdata.com/Infla...x/HistoricalCPI.aspx

 

Let me give you some examples of how not to invest in toy trains.

 

1990 - 2015.  Right of Way trains LN values have dropped about 70%

 

Lionel 700E rerun (Orig 1991 MRSP something like $1400) now can be gotten

for $500-$600 LN

 

Yes, indeed some people will pay huge amounts of money for "one in a kinds" and I say more power to the buyer and seller. 

It won't mean anything. The government statistics are not correct. Your 15.6 number is not even close to being correct. A new ford in 1931 was $345; today say $30,000. That is an increase of 78X.A new house was about $6800, today in Los Angeles anything decent is around $1,000,000! That is an increase of 148X. Of course not all things go up by a factor of 2 every 10 years, but they are closer to that then the government's ridiculous numbers!

 

In any case, all I was talking about is this particular set, a Lionel 407E, which sold for $350 in 1931! My figure of a value of $118,227 based on the rule of 2 every 10 years is deadly accurate for this set!! That is all I am concerned about here. In fact, I seriously doubt you could buy one for that price if a mint, complete example even exists!




Lew is right, reproductions are the WORST possible investments!! An auctioneer here in Los Angeles, whose company has been in business since 1914, once gave me some very sage advice which I will pass along here. He said, "The AVERAGE are born AVERAGE and die AVERAGE; it's the GREAT that go up in value"! I always advise my collector friends instead of buying ten mediocre items, save your money and buy one great one! In the long run, you will be glad you did!

 

BTW, you mention inflation. A friends parents bought their house, a small 900 square foot house in West L.A. (a good neighborhood) in 1964 for $26,500. Today that house will sell for $1,000,000! That is an increase of 37.74 times in 51 years. Using my formula. 2 to the 5.1 power=34.3x! Pretty close 

I know that; it's just that one wire had become disconnected! I thought that it was amazing that it ran as well as it did with one motor! A friend of mine, Larry Pearson and myself, have become real experts in working on these motors. We are able to re-build Lionel Pendulum type units that work flawlessly when we finish with them. Here are a few photos of the motors that were in a magnificent Mojave 408E boxed set that I acquired after I worked on them. The set would run beautifully on about 13 to 14 volts!!

_DSC3431

_DSC3435

_DSC3436

_DSC3437

_DSC3438

And, the final result, the set in operation!

_DSC4443

_DSC4444

_DSC4447

Attachments

Images (8)
  • _DSC3431
  • _DSC3435
  • _DSC3436
  • _DSC3437
  • _DSC3438
  • _DSC4443
  • _DSC4444
  • _DSC4447

The value is priceless, nothing, or somewhere between the two.

 It depends on who's holding the train.

You wouldn't catch me trading my scratched up 2037 for it, for nearly the same reason you bought yours 

 

I think an automobile is an unfair comparison. Advancements in production, and huge numbers, have skewed that price. I think $350 was only half the price of most nice, but non-prestige grade autos.

 A Chris-craft boat was $1,200-40,000.    

 

From a dollar for this or that stand point, I think $350, would be equal to as high as $15,000 in comparable entertainment items today.

 A high end, floor sized radio for the home could be $200. I think the table top ones were $40 for a cheaper one on a good day, $70 for a quality one.

 

  I think the consumer price index puts it at about $7000 by now.

  Id guess that is low too. 

 

Would I ever pay $100,000+ for a train set??

If I could, think I would. So thank you for this vicarious opportunity

 But they could find a pallet full tomorrow. Don't let value ever spoil things for you.

You own it! You've ran it! And even improved its condition! That's love.

 Could you replace it, or the experience, at any price?

No!

Money well spent

I've dealt with other collecting as a business some.

From that standpoint, it was a once in a lifetime item. I do not feel you overpaid.

I think you got off light.

  

 

 

I want to thank you for your kind thoughts! If you are going to strive to acquire the "BEST OF THE BEST", you have to be willing to put some "skin in the game"! I have always felt that even if you paid what was perceived to be an exceptionally high price at any given moment, time will always vindicate the purchases of extraordinary pieces. I enjoy being surrounded by these pieces of "Moving Sculpture", and sharing both the item and my enthusiasm with my fellow collectors. We have all heard of people who never have shared their collections, and I know of one chap in Connecticut who didn't even want to give me his name!! What joy is there in that, and why even bother to collect??

Unlike yourself, I am not retired and have limited time to devote to my various outside interests. The reason I posted this time is because of a note I received from Mark Boyd, and I felt people would be interested in the "back story" of this layout. BTW, my name is clearly posted, so I am not "Dr. Whomever"! It is not a matter of feeling superior, it is a matter of sharing knowledge that was acquired through hard work and research. I am not ashamed of this knowledge! As for feeling superior, let me include a quote from Teddy Roosevelt that expresses it very well:

 

“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”

 

In other words, Happy Pappy, the guy that is willing "TO HAVE SOME SKIN IN THE GAME"!! I, along with a number of my associates and employees, are those guys and to quote from Dylan Thomas: "We do not go gently into that good night"!

Dr. Folb,

 

While I do appreciate your love for Classic Era Standard Gauge toy trains, your effort to research and collect these toys, plus your generosity in sharing this info and exhibiting the toys for other collectors and the world at large... I feel you greatly exaggerate the cultural significance of these toy trains.

 

I have commented upon this before. To compare a mass produced object like a toy train, no matter how rare/expensive or beautiful to your eye, to true art like a Klimt or Picasso is misguided in the least and at worst displays cultural ignorance. The average man on the street would never be able to discern the difference between an original 1930's Lionel State Set and a MTH repro, and wouldn't care. Not would an art museum curator. They would see a colorful toy train in action and smile.

 

"The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood..." Teddy Roosevelt was not referring in any way to the collecting of toy trains.

 

In essence, I fear your love of the objects you collect has blinded you to their true context in the World.

 

Bert

 

 

Last edited by MrNabisco

  The issue was your posted statement “A new ford in 1931 was $345; today say $30,000. That is an increase of 78X.”   The numbers which directly apply to that assertion are $385 and $13,965 respectively.  Their ratio remains 36.3 and 36.3 is not equal to 78 even for very large values of 36.3.

 

   If you will recall, the point of the data you provided in that post was to support the position concerning your estimate of price increases and gainsay the citation of the government numbers as well as the comment by lewrail concerning the price of "one of a kind super collectables" and their failure to mirror price changes of a general nature.

 

  In an attempt to get this discussion back to the OP’s original interest in trains and away from imprecision and curious interpretations of statements by TR and D Thomas, is there any chance you could take that Nikon D4S you mentioned over on page one and give us an update, in terms of text and pictures, of the Ives Circus set which, it appears, you wrote about in the Train Collectors Quarterly back in January 1968? 

 

  It would be interesting to see those items in color and hear if you have anything new to add to the history of that purchase.

"They would see ...................................... and smile"

 

At the core, I'd swear it sounds like you are describing looking at art to me.

 

 Or maybe just a badly parked sports car?

 

 Those artists "just" influenced the art world. Not so much the world.

 

The toy trains, influenced thousands more people..... in their youths too.

 

 I see a beautiful metal sculpture containing the evolution of various arts and sciences.

I wonder which "art" Da Vinci would be more interested in?   

 

Considering the art you chose, I find it disheartening you're attempting to label what art is, to other individuals. Keep looking, you may understand in time.

 

  Some artists make series of similar "copies", and even numbered prints with no real 'originals' do they not? 

 

Now pass me that bar napkin with the drunken doodle on it so I can wipe the tin plate drool off my chin.

 

 

 

 

If trains could talk Dr. Folbs State State would have a good idea what this house looked like in the 30's. The house of Henry Benedixon.

 

Now a pool table sits on the porch where maybe Standard gauge trains once roamed.

Taking it full circle and tying everything together. I play pool and have several high end cues which can be a beautiful form of functional art.

I have actually been in contact with the man who currently owns that house and we had a very nice discussion. The house is for sale, and he told me there is a painting of Howard (I made a mistake originally and thought his name was Henry) Bendixen in one of the rooms. I asked him to give me the opportunity to purchase it if whoever buys the house has no interest in it. BTW, the Nethercutt Museum in Sylmar (where I photographed the Duesenberg "20 Grand") has a 1937 Packard that was purchased from Bendixen. I am think about taking the set over there and photographing them together, as the train may have actually ridden in the car at some time!

 

Adriatic totally gets my point, and obviously Nabisco (Bert) does not and never will! Art can be in many forms, and what is important is how any genre affects people. Believe me, I fully understand the situation when TR made that statement and when Dillon Thomas made his! The implications and ideas expressed in these words can well be applied to other situations, and I'm sorry that some people cannot think outside the box!

 

 

 

 

This is a photo that I do not believe has been seen before. When we first displayed the 20th Century, after I acquired it in 2006, this was shot at the Cal-Stewart Meet. A friend of mine, Mike Seibert, owns the carpet and I am trying to find one for myself to hang like a tapestry above the display of the set. Anyone know where such a piece might be available?

FIG. 28A

BTW, I did receive a nice note from "HAPPY PAPPY" thanking me for sharing the information and my thoughts. That is what this should be all about, the exchange of information and ideas about these pieces of "MOVING SCULPTURE"!

Attachments

Images (1)
  • FIG. 28A
Last edited by Dr. martin A. Folb
Originally Posted by Dr. martin A. Folb:

In any case, all I was talking about is this particular set, a Lionel 407E, which sold for $350 in 1931! My figure of a value of $118,227 based on the rule of 2 every 10 years is deadly accurate for this set!!

It's fundamentally easy:

 

Probably couldn't have afforded one back then and definitely can't afford one now!

 

Simon

Considering that only one of these has ever showed up, apparently almost no one else could afford it at the time! I jokingly remarked in the TCA article that the man who bought it for his DAUGHTER was a butcher in Brooklyn by the name of Jeremie Flaco.

 

I was surprised that a butcher would have that type of money available in 1931, and suggested that perhaps his real name was: Jeremie, "THE BUTCHER", Flaco!! lol 

Lionel 407E#1

Notice, that the outfit was packed in 7 BOXES!!!

Attachments

Images (1)
  • Lionel 407E#1

 My Grandmother was a white gloved girl. A large house and staff, she had never even cooked herself a meal until she left that life, to marry my Grandfather. But got quite good.

 

  I have the family Christmas tin train she picked out before she left home.

It was a very nice, and a little unusual, Commodore Vanderbilt set, but only a Marx.

 

I always add this in hopes someday I'll hear "I know about that one"

 The unusual? A long, side dimpled, screw base smoke bulb I can find no reference for, frame mounted bulb socket, not on the body pilot area. A sheet metal shroud for forced air smoke from the headlight hole. And it had wadding around the bulb, between it and the shroud. It connected to the body at the pilot area screw hole, and had a flat sheet metal light shield from the "pilot's hole" to the frame. Two position E-unit. A visor vs a headlight ring, nickel plated domes & stack, and copper w/blk. ink nameplate. The smoke bulb and shrouds, at least 3 cars(?), lots of track, and accessories were "rust dust" when I dug it out of a dirt floor garage. Found by accident its large thick 3'x3.5'(?) box was literally buried in nearly an inch of dirt. The dry dirt and busted down a box side and dirt was slowly filling it. The dirt preserved the rest quite nice, I run it often. But the front paint of the loco, and the items mentioned didn't survive. 

It has square 6" cars, and riveted slot couplers. It had fine grey frame detail paint that has disappeared from dusting it for 30 years.(I only use a soft brush too)

 Another thing. She swore she got it Christmas of "34". Knowing from documents her age, the time she claims to have received it, when they were first made, & the age she left and married(documents), her whole story fits to a T.

 But the info I've found I.D.s it as "36" or even as late as "38"?

 

    

Dr. martin A. Folb posted:

... These extraordinary trains are finally achieving a place in the World of collecting that they so rightfully deserve. While not quite ready to achieve the stratospheric prices of a Gustav Klimt painting of Adele Bloch Bauer ($135,000,000) or a Picasso- “Les femmes d'Alger (Version ‘O&rsquo” ($179,400,000), they have been noticed by as prestigious a publication as The Robb Report. I am enclosing some scans from an article that was done about one of my acquisitions, The 20th Century Limited (Lionel Set #433E), as well as a few other collectors including Ward Kimball (who was a good friend of mine).  

1

 

4

 

7

Dr. Folb, Nice to see an accurate, well written article with quotes by Noel Barrett and an example such as Ward Kimball. It brings back to my memory, the other end of the scale, a bad article that CNN Money did a few years ago. For the B6 switcher, they couldn't even find the right tender, left out the 1939 production, I think the called the tender a coal car... Ahgghh! 

http://money.cnn.com/gallery/s...10/21/lionel-trains/

Tom

Add Reply

Post

OGR Publishing, Inc., 1310 Eastside Centre Ct, Suite 6, Mountain Home, AR 72653
800-980-OGRR (6477)
www.ogaugerr.com

×
×
×
×
Link copied to your clipboard.
×
×