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We are here in Williamsport, IN at Stout Actions looking over the Jim Seacrest O Scale collection. This will be one of three auctions. Saturday will be mostly brass, about 400+ lots. Other actions to follow next month. I suspect most bidding will be on-line but a few of the usual suspects showed up today. We can not post from the auction tomorrow because Verzion has NO signal in the area but will recap in the next issue of The O Scale Resource.stout1stout2stout3

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I drove to the auction this morning and had a fantastic time.

This collection is incredible.  Seeing all those high end brass items in one place is a memory maker in its self!

I scored an item and I'm happy.  As always, it's exactly as described by Stout's. 

Erik, I looked at that model you posted in depth and what struck me at the time was how beautiful the paint  was on it.  It really stood out and that's saying something with the caliber of models in that collection.  Hope the painter gets it back.  Good luck!

Interesting experience.  I was happy to score one of the items I wanted.  Sad to have missed out on many other wonderful models.  I have a pretty long horizon in this hobby.  I expect I'll see similar items come up again over the next few decades.  

It was my first Stout auction activity.  The on-line experience was quick but very straightforward.  I was pleasantly surprised how easy it was to pre-bid, observe, and use the bidding system from my smart phone. 

A question for those who have done online/absentee bidding before:  How long should one expect the process to take for invoicing, payment processing, shipping etc.?  Just curious...

It was fun, but some nice pieces got away....... 

Last edited by WITZ 41
WITZ 41 posted:

A question for those who have done online/absentee bidding before:  How long should one expect the process to take for invoicing, payment processing, shipping etc.?  Just curious...

 

Just depends where you are in the que.  Maybe two weeks to get an invoice. Once they receive payment, shipping happens quickly. UPS ground.  If you have special needs you can call and they will try to take care of you. Biggest hazard is shipping damage. They usually wrap in bubble wrap, then styrofoam peanuts.  But UPS is hard on things. I have tried to get them to ship Fedex as I have less damage with them, but Stout's is stuck on UPS.  

You really can't use the Ebay system on may lots, things just go to fast and the Ebay to Stout translation can result in a lot ending before you have a chance to keep up.

I bid on 9 lots, wanted to win 4, won the 4.  1 above what I expected 2 near what I expected and 1 way below what I expected.  Bill Davis tends to have buyers already lined up at high prices on many things so I worried if I was bidding against him.  I thought most of the passenger cars went where I expected.

I just couldn't get over the endless lots of boxcars in the auction.  I'd get through a lot I was interested and then there would be 20-30 lots of boxcars to sit through.

Erik,

It depends on who won the Rock Island E7.  If it was Bill Davis or Norm Pullen then it may show up at O Scale West or another show they attend.  You could contact them directly and see if they won that lot.  If a lot was won by someone who wanted the lot for themselves it is pretty much gone for the time being.

Last edited by rdunniii
VGN64 posted:

You live and learn..........I won't use Deathbay next time.  I didn't realize they had their own site to bid thru.

There is more that one of us who has been there before.  Happened to me when some Smithsonian cars showed up about 6 or 7 years ago and I went through the ebay method.  Didn't win one single car but not for lack of trying.

rdunniii posted:

You really can't use the Ebay system on may lots, things just go to fast and the Ebay to Stout translation can result in a lot ending before you have a chance to keep up.

I bid on 9 lots, wanted to win 4, won the 4.  1 above what I expected 2 near what I expected and 1 way below what I expected.  Bill Davis tends to have buyers already lined up at high prices on many things so I worried if I was bidding against him.  I thought most of the passenger cars went where I expected.

I just couldn't get over the endless lots of boxcars in the auction.  I'd get through a lot I was interested and then there would be 20-30 lots of boxcars to sit through.

Funny to go through the entire auction list and note the PSC or Pacific Limited boxcars.  

PSC did lots of SP outside braced cars along with the B&O M15/M53 and the PRR X29.  Their single door 1937 box car, while not as road-specific as Norm Buckhart's Protocraft cars, is a nice model in its own right and quite accuately done.

Jim had most of the PL cars but a few were missing from the auction as of yet.   Considering how flimsy/sloppy the MP 1932 cars are they fetched a ridiculous premium price.  He had quite the number of PL-1450 NYC cars... but then again so do we, don't we Brad? 

rdunniii posted:

Erik,

It depends on who won the Rock Island E7.  If it was Bill Davis or Norm Pullen then it may show up at O Scale West or another show they attend.  You could contact them directly and see if they won that lot.  If a lot was won by someone who wanted the lot for themselves it is pretty much gone for the time being.

Thank you Richard that's a great plan. And if you see it let me know asap. 

 

I was surprised at some bids, happy to get a Pecos baggage car for $180--- a steal imo.    I was shocked at the price paid for the stock cars...  and the low prices on diesels.     Overall, it was a chance to get cars if you wanted them, some will show again.  I.e. NYC boxcars.    The crr and hcrr are harder to acquire.

Robbie,

 

i concur on your comments on the MP cars...    I did not buy them nor the NYC.     There are variances in quality of the NYC build too.     The single door cars are better then the door and a half.   The SP PAC limited are the best built of all and fetched good prices.   I got four PSC o/b cars which many overlook and pan, but I feel offer real value at $180-220.     I can add more images of my weathered models when I get back.

i expect to see more boxcars in the next round....

BradA posted:

I was surprised at some bids, happy to get a Pecos baggage car for $180--- a steal imo.    I was shocked at the price paid for the stock cars...  and the low prices on diesels.     Overall, it was a chance to get cars if you wanted them, some will show again.  I.e. NYC boxcars.    The crr and hcrr are harder to acquire.

What's interesting is that Pat's "One of 15 made" or "One of 20 made" for the CRR and HCRR cars seems to drive up interest... and price.   Great for collectors as the cars aren't that common to be needed for operators. 

The CRR is the garden variety 4/4 DN end 1932 car whose only difference with the very common MEC model is a different hand brake.     The HCRR car is the very commonly seen NB car but without the plate soldered on the bottom panel of the Gilroy door.  AND the HCRR cars would likely have been seen with K brakes in that era (before US Steel dispersed the cars to the Atlas and the N&B RR).   Neat stuff. 

I originally entertained the thought of updating the hand brake and also the door hardware to Union Duplex on one of my CRR cars to make it into an MP car.

I was following this one too. Even though I not into 2R there was a lot that I was interested in. Had to make choices thought  and went after the GN and CB&Q waycars. Once again another GN Waycar gets away. The other two also do to Internet issues with spectrum I was unable to bid. Spectrum's system went down about midnight last night and wasn't restored until almost 6:00 this morning. No phone, No Internet, No Cable and 3G network was off line.  I guess they had to finally find a new way to feed the squirrels.

As to why anybody would use ebay instead of registering with Stout is beyond me.

Last edited by suzukovich
swrr posted:

Just remember demand will continue soften over the next few years and more collections will become available.  So if you missed out on something, it will likely become available in the near future and probably for less.

Sir,

I sure hope you are correct, there's a lot of stuff out there I want to find and add to my collection.  Let several items slip through my hands Saturday...

The trains are out there, and with the average age of most 2 rail guys, many more estates in the near future will pop up for sale.  While its sad to see the ranks shrink as those pass on, its part of life.   Congrats to those that picked up some nice models, lots of eye candy for sure.  And I thought the Indy meet had lots of brass eye candy!   Mike

Well, the JS auction realized some $166, 365.  I don't think much of it brought in more than it cost new so this first auction could have represented close to a couple hundred thousand dollars worth of O Train stuff.

The Stout take would have been about $30K from this first auction.

The fact that one person aquired this much train stuff is amazing. 500 plus items(because some of them sold in more than one item per lot), averages to about $400 per item total realized. Figuring maybe you could spend 10 minutes per item to retrieve, unbox it, admire it, then rebox and replace each one would be over 83 hours, or if you did it 8 hours per day, about 10 days to just look at all that stuff you had aquired. And this is just the first auction...

oscaletrains posted:

Well, the JS auction realized some $166, 365.  I don't think much of it brought in more than it cost new so this first auction could have represented close to a couple hundred thousand dollars worth of O Train stuff.

The Stout take would have been about $30K from this first auction.

The hammer price is all paid to the seller.  Stout doesn't get anything from that.  Stout Auctions gets the buyers premium.  So if the hammer price was $166,365 then the seller gets the 166,365 and Stout gets 14%+ depending on whether the buyer was local or remote and pays with cash or credit card.  So Stout get about $23,500.

oscaletrains posted:

Well, the JS auction realized some $166, 365.  I don't think much of it brought in more than it cost new so this first auction could have represented close to a couple hundred thousand dollars worth of O Train stuff.

The Stout take would have been about $30K from this first auction.

The fact that one person aquired this much train stuff is amazing. 500 plus items(because some of them sold in more than one item per lot), averages to about $400 per item total realized. Figuring maybe you could spend 10 minutes per item to retrieve, unbox it, admire it, then rebox and replace each one would be over 83 hours, or if you did it 8 hours per day, about 10 days to just look at all that stuff you had aquired. And this is just the first auction...

Not sure of the part about what the items cost new.

Pacific Limited 7##/11## SP B-50-14 boxcars went for $165 each when I bought them new.   I don't think one fetched less than $300.

rdunniii posted:
oscaletrains posted:

Well, the JS auction realized some $166, 365.  I don't think much of it brought in more than it cost new so this first auction could have represented close to a couple hundred thousand dollars worth of O Train stuff.

The Stout take would have been about $30K from this first auction.

The hammer price is all paid to the seller.  Stout doesn't get anything from that.  Stout Auctions gets the buyers premium.  So if the hammer price was $166,365 then the seller gets the 166,365 and Stout gets 14%+ depending on whether the buyer was local or remote and pays with cash or credit card.  So Stout get about $23,500.

No... not really...

The $165 Pacific Limited box cars your refer to were unpainted and in most cases less trucks. Think about how many hours a pro paint and lettering job takes, add in trucks with good metal wheels and one is easily in the mid $200 range back 15- 20 years ago.  I'd say the Pac Limited brass has done nicely.  The big depreciators are Max Gray and USH freight cars.  In the 60's and very early 70's they were in the teens.  By the 1980's MG/USH hoppers were selling on tables at O scale Nationals in the $75-$100 range.  Now they don't sell at half that price as even plastic and some die cast hoppers are better detailed.  My observation is that the best version of a given prototype (or distinctive cars like Overland Pickle cars)  hold their value, inferior versions sit unsold on tables or decline in selling price.  

oscaletrains posted:

Well, the JS auction realized some $166, 365.  I don't think much of it brought in more than it cost new so this first auction could have represented close to a couple hundred thousand dollars worth of O Train stuff.

The fact that one person aquired this much train stuff is amazing.

A lot of it was bought second hand or more so. JS had long running ads in O Scale Trains magazine. He no doubt picked up items at other sources. If you look at the boxes of many of the E units, you will note that they were originally painted for other roads than CB&Q. I think several of the pilots were incorrect, which may account for some of the lower prices.

It's not that tough to acquire stuff if you have the LOOT to do so.

Simon

Keystoned Ed posted:

The $165 Pacific Limited box cars your refer to were unpainted and in most cases less trucks. Think about how many hours a pro paint and lettering job takes, add in trucks with good metal wheels and one is easily in the mid $200 range back 15- 20 years ago.  I'd say the Pac Limited brass has done nicely.  The big depreciators are Max Gray and USH freight cars.  In the 60's and very early 70's they were in the teens.  By the 1980's MG/USH hoppers were selling on tables at O scale Nationals in the $75-$100 range.  Now they don't sell at half that price as even plastic and some die cast hoppers are better detailed.  My observation is that the best version of a given prototype (or distinctive cars like Overland Pickle cars)  hold their value, inferior versions sit unsold on tables or decline in selling price.  

oscaletrains posted:

"Pacific Limited 7##/11## SP B-50-14 boxcars went for $165 each when I bought them new.   I don't think one fetched less than $300"

Well, at least those have appreciated in price.

 The  last of the PL cars, the NYC clone cars such as the N&B were up to $279 list when they sold.    Slow sellers at the time but nice cars.

The SP B-50-15 cars actually came with T-section Bettendorf trucks that were nicely done for their time.  The SP gons came with a very nice set of Dalman trucks.    They look as good now as they did then.    Certainly premium stuff.

And you're right Ed, most of the older run brass has not held its value.  

It's worth paying for the better quality, at least now until everyone is buying ACEs and ES44's.


And you're right Ed, most of the older run brass has not held its value.  

It's worth paying for the better quality, at least now until everyone is buying ACEs and ES44's.

And that might not be all that bad a thing for the average more budget aware modeler that wants a lot of cars in their trains, cannot afford $300/car, and is also satisfied with how those older cars look rolling by on the track from 3+' away.

There are also only so many PL PRR X23's that I'm willing to acquire, and then put in the time to paint & letter for the CVRR.

railroad-guy posted:
rdunniii posted:
oscaletrains posted:

Well, the JS auction realized some $166, 365.  I don't think much of it brought in more than it cost new so this first auction could have represented close to a couple hundred thousand dollars worth of O Train stuff.

The Stout take would have been about $30K from this first auction.

The hammer price is all paid to the seller.  Stout doesn't get anything from that.  Stout Auctions gets the buyers premium.  So if the hammer price was $166,365 then the seller gets the 166,365 and Stout gets 14%+ depending on whether the buyer was local or remote and pays with cash or credit card.  So Stout get about $23,500.

No... not really...

I have both purchased and sold through numerous auction houses in my lifetime-not just train related but also antiques when I had an antiques business years ago.   The auction house collects on both ends.   As stated above,  they collect money from the "buyers premium" whatever the percentage may be once the item is sold.   But they also charge the seller a commission,   usually in the 10%-35% range of what the items sell for.    The selling commission percentage usually depends on the quantity and quality of the goods.   Most times this commission is a privately negotiated process between the seller and the auction house. 

Nick

Bob posted:

I have personally sold through Stout Auctions and they collected a commission on the low end of the range that MACHINIST posted.  The idea that "The hammer price is all paid to the seller" is nonsense.

This is correct - I worked as a runner for Greg for several years and sellers didn't get the final hammered price - they paid a fee.  Buyers paid a premium in the 15% zone back when I was holding up trains at Stout's Indianapolis auctions, and the earliest auctions at the Williamsport site before the glass cases were installed.

mwb posted:

And you're right Ed, most of the older run brass has not held its value.  

It's worth paying for the better quality, at least now until everyone is buying ACEs and ES44's.

And that might not be all that bad a thing for the average more budget aware modeler that wants a lot of cars in their trains, cannot afford $300/car, and is also satisfied with how those older cars look rolling by on the track from 3+' away.

There are also only so many PL PRR X23's that I'm willing to acquire, and then put in the time to paint & letter for the CVRR.

If you had a time machine back to 1995 you could pick up Pacific Limited x23/r7's for a hundred bucks Martin!  Did that at the Merchantville show back then. Of course back then  money was much tighter and that was like a $600 Kohs car is nowadays. 

Simon, Many of those Key units were bought new by Jim Seacrest. Some he even negotiated with Key to be unpainted. All of them were put away and never saw time on the rails. He had an excellent painter in Omaha.  Indeed he was essentially a collector. He also had a conservative side,[hard to believe!] that he thought Kohs was not worth the price. He liked a bargain and you will see the indiscriminate side of his collecting on later auctions although there are more nice things to be brought out, unless someone creamed the collection.  

MTN posted:
Bob posted:

I have personally sold through Stout Auctions and they collected a commission on the low end of the range that MACHINIST posted.  The idea that "The hammer price is all paid to the seller" is nonsense.

This is correct - I worked as a runner for Greg for several years and sellers didn't get the final hammered price - they paid a fee.  Buyers paid a premium in the 15% zone back when I was holding up trains at Stout's Indianapolis auctions, and the earliest auctions at the Williamsport site before the glass cases were installed.

That is what my understanding of how these auctions work, the house is collecting from buyer and seller.

Rule292 posted:
mwb posted:

And you're right Ed, most of the older run brass has not held its value.  

It's worth paying for the better quality, at least now until everyone is buying ACEs and ES44's.

And that might not be all that bad a thing for the average more budget aware modeler that wants a lot of cars in their trains, cannot afford $300/car, and is also satisfied with how those older cars look rolling by on the track from 3+' away.

There are also only so many PL PRR X23's that I'm willing to acquire, and then put in the time to paint & letter for the CVRR.

If you had a time machine back to 1995 you could pick up Pacific Limited x23/r7's for a hundred bucks Martin!  Did that at the Merchantville show back then. Of course back then  money was much tighter and that was like a $600 Kohs car is nowadays. 

If............If wishes were butterflies, mine would be crushed on the front grill of someone’s car.

And if pigs could fly.........although I am given to understand that with sufficient thrust pigs are surprisingly aerodynamic.

And a $100 in 1995 was far more than I could freely spend on just about anything.  Something about family and career topping the list and consuming all funds and time....

ecd15 posted:
oscaletrains posted:

Now, I wonder how many of those items sold will find their way onto ebay for a profit?

Well, wonder no more.  The PRB Rock Island cars are there.  I'm sure the same seller has more items from the auction, but those are the ones I recognized immediately.

He is fishing in a bigger pond!

mwb posted:
Rule292 posted:
mwb posted:

And you're right Ed, most of the older run brass has not held its value.  

It's worth paying for the better quality, at least now until everyone is buying ACEs and ES44's.

And that might not be all that bad a thing for the average more budget aware modeler that wants a lot of cars in their trains, cannot afford $300/car, and is also satisfied with how those older cars look rolling by on the track from 3+' away.

There are also only so many PL PRR X23's that I'm willing to acquire, and then put in the time to paint & letter for the CVRR.

If you had a time machine back to 1995 you could pick up Pacific Limited x23/r7's for a hundred bucks Martin!  Did that at the Merchantville show back then. Of course back then  money was much tighter and that was like a $600 Kohs car is nowadays. 

If............If wishes were butterflies, mine would be crushed on the front grill of someone’s car.

And if pigs could fly.........although I am given to understand that with sufficient thrust pigs are surprisingly aerodynamic.

And a $100 in 1995 was far more than I could freely spend on just about anything.  Something about family and career topping the list and consuming all funds and time....

Best ever was my best bud's Hungarian dad (in his thick accent) - "If your aunt had a wheel she'd be a wheelbarrow".  .

I think I bought one or two brass pieces a year back then, given the funds available and the price.   Interestingly, PSC cars were fetching around a hundred bucks back then.  Not much different from now. 

Last edited by Rule292
jefferson posted:

Simon, Many of those Key units were bought new by Jim Seacrest. Some he even negotiated with Key to be unpainted. All of them were put away and never saw time on the rails. He had an excellent painter in Omaha.  Indeed he was essentially a collector. He also had a conservative side,[hard to believe!] that he thought Kohs was not worth the price. He liked a bargain and you will see the indiscriminate side of his collecting on later auctions although there are more nice things to be brought out, unless someone creamed the collection.  

Jefferson,    I didn't have the pleasure of knowing Jim personally, but he seemed like a nice guy with a good sense of humor. I never talked with him, nor do I know what he bought in the way of models. That said, not trying to be a know it all or petulant, but looking at the road names on the boxes, I only recall one that had CB&Q on it. Most of the others that were painted CB&Q had DIFFERENT road names on the boxes and had what I would call "shovel nose" style pilots, like the early E1 thru E6 units.  I'm NOT a CB&Q expert by any stretch, but I don't recall any of their E7 or E8/9 diesels having any type pilot other than the passenger style. (Anyone knowing otherwise, feel free to correct that.)

Last edited by OGR CEO-PUBLISHER

I have bought items from 108spoplar with no problems and I live 16,000 miles away.

I have that name listed as one of the sellers I deal with because they have done the right thing by me.

Auctions like this are to confusing for me it's really for you blokes, of course if you live overseas and don't have a financial problem and not worried about expensive shipping costs bid as much as you like.

I'm confident that a couple of things I like at the auction will eventually come up elsewhere with the shipping costs to West Australia clearly stated, then I might make a move. You have to be patient if your an O scaler overseas and wait your turn. Roo.

Rule292 posted:

Even with the economy going sideways as it has over the past many years I surely didn't see any slowing in the prices that the PSC and Pac Limited cars fetched in the last auction! 

There is obviously a limited core market still into these cars, after all you can not own just one. Similarly I would think for quality passenger cars  Wasach, Key, PRB etc, it does not take many bidders who are willing to spend for models they want to keep prices high. JMO

Roo posted:
Auctions like this are to confusing for me it's really for you blokes, of course if you live overseas and don't have a financial problem and not worried about expensive shipping costs bid as much as you like.

I'm confident that a couple of things I like at the auction will eventually come up elsewhere with the shipping costs to West Australia clearly stated, then I might make a move. You have to be patient if your an O scaler overseas and wait your turn. Roo.

Roo,

No doubt about it that folks like You and Max are at a distinct disadvantage having  to pay for shipping charges halfway around the world! They can eat you alive just from East coast to West coast or vice versa here in the states.

I am guessing the best bet for you would be one of the dealers or the BIG internet auction, where stuff can slip by unnoticed sometimes

Then there is the concern of  shipping damage or loss, most of which is due to inadequate packing.

Another caveat for me is trying to determine accurate condition from photos.

Cheers,

Simon

Simon.

The thing is for "ordinary" people, (I was going to say peasant, bit harsh!) like myself, you have to be sure of the shipping costs that's why I like that other place the shipping costs for Australia are written right in front of you if you don't like them don't bid. I just bought seven hoppers and the shipping costs to West Australia were $45 that is good, not good for one hopper, but good for seven and the Steel mill.

I once sent a parcel to America not that long ago FedEx wanted $496..... Aust Post $123 of course I went for Aust Post and it arrived safely if you want to send a real expensive item worth thousands of course you would pay the equivalent in shipping and register and insure it,  but for my plastic fantastic's that I buy I look for cheap shipping takes longer but who cares not me, I get what I want, no complaints, I'm enjoying myself. Roo.

Roo posted:

Simon.

The thing is for "ordinary" people, (I was going to say peasant, bit harsh!) like myself, you have to be sure of the shipping costs that's why I like that other place the shipping costs for Australia are written right in front of you if you don't like them don't bid. I just bought seven hoppers and the shipping costs to West Australia were $45 that is good, not good for one hopper, but good for seven and the Steel mill.      I'm enjoying myself. Roo.

Roo,

If ever there be a peasant, it is I. I am always careful with shipping, as it adds up very quickly! Considering the size of the box needed to ship 7 hoppers, you did extremely well! As long as you are enjoying yourself, you have won the game! Doesn't matter what anyone else thinks!

Simon

I bid on a bunch, but only won two lots:  PSC drop bottom gon and a o/b single door.    Pricing for the Pac Limited models was firm; the single Protocraft RI 1937 modified car for $375+ premium???  Yikes!      Its a great model, but wow...

 

The passenger cars and some diesels were cheap, then I watched some stuff go for a price that shocked.    Someone got a steal: the lot of San Juan o/b GN cars and the CN versions---  built up and ready for paint.

 

BradA posted:

I bid on a bunch, but only won two lots:  PSC drop bottom gon and a o/b single door.    Pricing for the Pac Limited models was firm; the single Protocraft RI 1937 modified car for $375+ premium???  Yikes!      Its a great model, but wow...

 

The passenger cars and some diesels were cheap, then I watched some stuff go for a price that shocked.    Someone got a steal: the lot of San Juan o/b GN cars and the CN versions---  built up and ready for paint.

 

Being blessed with having almost all I need for my humble coal patch railroad I didn't partake in this iteration of the auction. 

My wallet is working on bulking up for things to come. 

Simon Winter posted:
Rule292 posted:

Let the fun begin - auction #3 is up with all of the Fischer cars. 

I guess this will prove that O scale brass ain't dead yet. 

I would have thought you might have said:

I guess this will prove that O scale Strathmore board ain't dead yet. 

Simon

I should have - that might have gotten a bigger rise out of the fellas here.

Bidding seems to be starting... Would almost be nice to go and see the show in person.

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