The Jim Seacrest mega-collection

http://coloradooscale.org/mr-jim-seacrest/

Nice write up Salty Rails. 

Several of us in the Colorado region worked for Jim myself included for over 10 years. Jefferson was close to Jim for decades .

He was a kind man and very loyal. I will miss him and his financial reach to bring us high end brass projects to completion. Outside of Neil Gibson, Jim likely has one if not the largest single collections of O Scale 2 rail brass. 

May he Rest In Peace. 

Hi Eric---So are you fellas the guys who were doing the building of the layout?  At one point Jim told me  he didn't "talk about"  the DW&P ANYMORE.  So I have always wondered what the stage of completion was when he stopped. I wonder if it was dismantled.   It was REALLY an ambitious project.

I was going to make a special trip to Nebraska to see the monstrosity----had it been completed.

                                                                  -Rusty Rails-

I met him in a Lincoln, NE train store. Very pleasant man. Knew what he wanted.

Dick

Here are a couple of You Tube videos of Jim's layout.  The videos are not that old so it looks like the layout is still going strong.

https://youtu.be/vLkFYn6D_I4

https://youtu.be/XuKKgUUTcVU

Scott Kay

Austin, TX

The majority of the Seacrest DWP was built by Scale Art Models. A professional service out of the Denver area. Scott has since relocated to Texas. I did some of the backdrop painting and other odd jobs on the layout over the years. Actually a very small part compared to the Anderson team. Jim was indeed a close friend. 

Me too - truly a gentleman.  Always took good care of me.

I have seen those videos recently and was curious as to the disposition of the building and layout, was a club able to take it over or is it to be part of an estate sale?

Has any of Jim's collection gone to market yet?  What venues might these show up on, i.e., Ebay, BrassTrains.com, etc. ?

Two or three months ago I heard the plan was to use Stout Auctions but nothing has shown up there yet so maybe the plan changed. 

I was always amused by his ads in OST. He would list a pile of stuff and then:  "Are you hiding these?"

Several adds in the same issue, also.

Guessing by his ads, he had a good sense of humor.

Simon

Stout Auctions has posted a video with highlights of the Jim Seacrest collection on their Facebook page.

Just from the video there appears a very large amount of rare "high end" brass along with large amounts of older brass models and non brass models. It will be interesting to see how high the bidding goes overall [+ 20% "premium"], from what I have read this is the largest collection currently in the country.

Derek,

My goodness, what a collection.  I'll be there, I saw stuff I want.

hibar posted:

Just from the video there appears a very large amount of rare "high end" brass along with large amounts of older brass models and non brass models. It will be interesting to see how high the bidding goes overall [+ 20% "premium"], from what I have read this is the largest collection currently in the country.

I mean no disrespect to Mr. Seacrest but I wonder how his brass collection stacks up against Al Edel.

It will be fun to compare the final Seacrest numbers with a guesstimate of what (by my recollection) Edel has in his garage and basement. 

I tried to watch the video.  Moves way too slow - how about a slide show with two or three shots of each model, one an elevation.

I personally would not pick up a 2-rail brass steamer by anything but the cab and cylinders, but I am not in charge here, and I am going to give the guy a pass.  Most of these models have been modified somewhat already, and the value may be diminished.  The Rock Island obs series, for example, has had windows changed, with silver paint over the plated brass.  Purchasers will only see this level of detail with better photos.  They are still great models, but not $600 ones.

I think Jim had the world's largest collection of Fischer cars.  I hope to see photos of them.

Oh, there's a fair number of 2-rail collectors out there so a good number will in all likelihood go back into their boxes and onto a shelf to wait for the next estate sale.

mwb posted:

Oh, there's a fair number of 2-rail collectors out there so a good number will in all likelihood go back into their boxes and onto a shelf to wait for the next estate sale.

Truth.

Has Stout Auctions provided a listing of items to bid on yet?  I looked and could not locate any listing.

Steve

Nope. Not sure what happened to the 90% of stuff listed. 

In the video, he said that 90% (of the first auction) would be loaded by the end of the week.

In the two video's of Jim Seacrest's beautiful layout I've seen I didn't notice many pieces of  high end rolling stock.  Was it Jim's practice to  run the more  common items (MTH F units, Intermountain and Weaver cars) and reserve the high end items (Key diesels, Fischer passenger cars, etc) for display?

It will be interesting to follow this auction.  Prices at the Chicago meet were relatively soft.   I expect a collection this large hitting the market at one time will further soften it.

I believe the DW&P was intended to be prototype specific, for a couple of years the building of the massive layout was being documented by the builders even to motive power. Beyond the layout Jim obviously acquired a very large collection of  models, interesting the videos that have been posted appeared to be taken after Jims passing, The auctions [there are all ready several dates mentioned] should garner considerable interest from both bidders and watchers.

Robert.

I visit London (UK) every year I don't collect toy soldiers but I visit anyplace that would hold my interest one place was an exclusive Toy Soldier shop near the palace maybe you have been there, probably have, and I'm wasting my time and yours, if not I have a few photos of the fabulous collections which were all for sale all the year round, drop us a line if your interested and I'll send the photos to you.

End of thread drift . I apologise if I have upset anyone for this message. Roo

 neville-1234@bigpond.com

I would love to see them. I emailed you

A large part of the first auction [April 8] has been posted on the the Stout website, lots of CB&Q motive power.

I found the stout side easy to navigate and place bids on.

Plenty of brass cars to bid on !

hibar posted:

Plenty of brass cars to bid on !

Yeah and a few fellas are started already! 

Pretty easy to see who based upon the items they are bidding on.   No real rarities so far but lots of Pac Limited cars.

Adding in that 16 per cent buyers premium  with shipping could get expensive real quick though. 

"Adding in that 16 per cent buyers premium  with shipping could get expensive real quick though." 

They are only expensive if you can't afford them. Roo.

BradA posted:

I found the stout side easy to navigate and place bids on.

Likewise 

Roo posted:

 

"Adding in that 16 per cent buyers premium  with shipping could get expensive real quick though." 

 

They are only expensive if you can't afford them. Roo.

Wasn't it someone like Ernst Leitz that said "expensive is when the product is not worth the price"?

Luckily I'm just about brassed out... and having more than one of some of these cars defeats the purpose of making them stand out in a train or on the layout.

Why are some items without pictures? Are you supposed to bide on items you can't see?

I don't know who they have putting those estimates on the stuff, but they seem real low on the premium brass stuff and high on the ordinary?  Or is this what things normally sell for at auction before they end up on Ebay?

 It will be interesting to see how high the bidding goes overall [+ 20% "premium"],

Actually, it's 18% premium if you pay via CC, 16% if you pay in Cash or Money Order. I have been doing business with Stout Auctions for a while. Their descriptions can be sometimes vague or even questionable,  but you can e-mail them with questions before the auction. Bidding goes fast - on line at least. I can't imagine what it's like being there in person. It would be interesting to see the prices of those Overland F39 cars. Nothing in the collection posted other than the F39 has any appeal to me. 

oscaletrains posted:

I don't know who they have putting those estimates on the stuff.......

Auction estimates are meaningless; ignore them and use your own good judgment...

Would be nice to see the rest of the items...........instead of "photo not available",

It will be interesting to see how this auction goes.  Similar items on Ebay don't sell at all, and at much reduced asking prices from initial offering by the original importer.  

Don't forget that this is just the first of the three Jim Seacrest auctions.  I asked Stout Auctions if there was theme to each of the auctions.  They said they focused on making the first one mostly brass.  The other two will have more plastic but I'm sure they will have a lot of brass too.

mark s posted:

It will be interesting to see how this auction goes.  Similar items on Ebay don't sell at all, and at much reduced asking prices from initial offering by the original importer.  

And to see how long will those Key cab forwards on brasstrains last?

john handlogten posted:

Don't forget that this is just the first of the three Jim Seacrest auctions.  I asked Stout Auctions if there was theme to each of the auctions.  They said they focused on making the first one mostly brass.  The other two will have more plastic but I'm sure they will have a lot of brass too.

I don't like that, what if you don't get something because you are waiting to see what's next, or you run out of cash on the first ones only to see a more desired item on the last one go away?

Totally agree.  Adding another unknown factor makes the decision making a lot harder. 

Santiago:  Agreed.  Just not as much discretionary money floating about in our society. But.......Key displayed their new Cab Forwards at the Chicago March Meet, and they are stunning. Possibly the finest models ever imported.

mark s posted:

It will be interesting to see how this auction goes.  Similar items on Ebay don't sell at all, and at much reduced asking prices from initial offering by the original importer.  

I find this somewhat true in my little corner of the world with brass train cars. 

There are perhaps half a dozen or so folks looking at cars such as Pacific Limited cars.    The cars do sell but the prices range from $250 to $350 which in many cases is not far off from what they were new 15 years ago.  Appreciation? not hardly.

And the market is saturated, even for currently popular things like key or PL.    A week or so ago a Key PRR F3  A and B unit combo fetched $1300.    Top shelf model that cost twice that new.   Ditto for PL cars. 

Surely a few guys buy multiple pieces but just how many of the same thing do you need on the layout before your Pac Limited train looks no different than Intermountain or Atlas?

And some premium brass cars that were $400-$600 years you can't give away. 

Surely a good time to buy but buy cautiously.

Rule292 posted:

.......just how many of the same thing do you need.....

Truncate to that and stop.

Someone just blew thru my bids on the '32 MP cars.....   Robbie???? or a certain mp fan in Texas....  I'm not sure.    These are frankly, a mediocre build.    The sheet brass is really thin and the doors wafer like.    I do have a pair and will have to sit at that.    Back to Robbie's comments: the Key diesels have been selling on ebay [or not selling] for around $1200-1500.    Frankly, a laughable number as they far exceed plastic models in detail etc.     I buy what I like and am not venturing to speculate on future pricing---other then to postulate that any future production prices will be very high relative to today's secondary market prices.

BradA posted:

Someone just blew thru my bids on the '32 MP cars.....   Robbie???? or a certain mp fan in Texas....  I'm not sure.    These are frankly, a mediocre build.    The sheet brass is really thin and the doors wafer like.    I do have a pair and will have to sit at that.    Back to Robbie's comments: the Key diesels have been selling on ebay [or not selling] for around $1200-1500.    Frankly, a laughable number as they far exceed plastic models in detail etc.     I buy what I like and am not venturing to speculate on future pricing---other then to postulate that any future production prices will be very high relative to today's secondary market prices.

Nope not me on the MP Brad. One and done !!!

My guess is that Brad knows this market.

Not me either Brad.. I am on some other items. Trying to stay clear of your style of stuff. 

Brassmonger is working hard to front run this auction...  seriously aggressive in his recent listings.   Bob2, thanks for the compliment---

i have my bids in and will have to wait it out.    Erik, you are a passenger guy, I am into the freights.    So nice sets to be had and those engines are splendid--  the paint on the rock island was well done.   I wonder who did the work?

the pl NYC cars all show like Clemons work.   The MP and SP are not..

bob2 posted:

My guess is that Brad knows this market.

Nope, he hates brass train cars!

It's great to see interest in premium O scale items.. and even more that brass fellas like Erik and Brad are not only buying and  painting but building layouts. 

Brass ain't dead yet.  Brasstrains.com just sold two OMI UP turbines for $4k and $6k.

And the prices are slowly building on the Seacrest auction.

I had the oppertunity to visit the collection again last weekend, more videos will be posted soon. :-)

Rob

"Brass ain't dead yet.  Brasstrains.com just sold two OMI UP turbines for $4k and $6k."  

I saw those, but hadn't been back to see if they sold. All I can say is Wow!  I don't know who their clientele is, but they extract some of the most ridiculous high number out of many of their brass offerings. 

The 3 Unit Turbine was new. But John Keil's #5 is on eBay right now with some weathering for $2695.00. I don't care for the weathering, but it can be fixed by Lee Turner. And I know some collectors want pristine and new, but wow.  $6K for a 3 Unit Turbine is almost twice what the last new one brought (last year) on eBay and it was new too. I thought Brasstrains did well when they sold a Coal Turbine for $6K a few years ago, but they've outdone themselves this time.

The #61 turbine with special tender is rare, with only 15 produced by OMI back in the 80's, but I've never seen one bring more than about $3K. Owned one back in the mid 90's. 

I guess it just proves there's  a butt for every seat on the bus. 

BH

up148 posted:

.......there's  a butt for every seat on the bus.

Well, maybe with some Lysol and a roll of paper towels,

Bear in mind Brass Trains , Bill Davis etc sell worldwide, the european and far east collectors pay considerably more for models they want. Japan still sells product outside the US.

Rule292 posted:

Brass ain't dead yet.  Brasstrains.com just sold two OMI UP turbines for $4k and $6k.

And the prices are slowly building on the Seacrest auction.

Here's another train of thought (no pun intended): Key just brought in a pile of cab forwards going for circa $7500 a pop. The prices for those turbines don't look so bad compared to that.......and how long until some importer does another run of them, if ever, and if so at what cost???

Simon

 "If you can't run with the big dogs, stay on the porch".

I guess that makes me a Pup.  

Sorry John. Love your photos. Roo. 

Kohs & Company has the Big Blow GTEL as a twinkle in his eye. I  was talking with him about it at the march meet and the price on that one should be less than the Big Boy he's building at $6K

 

 If you can't run with the big dogs, stay on the porch.    

Just because you can doesn't mean you should.......

Matt Makens posted:

Kohs & Company has the Big Blow GTEL as a twinkle in his eye. I  was talking with him about it at the march meet and the price on that one should be less than the Big Boy he's building at $6K

TIME is more of a factor than money here. Considering the number of times the Big Boy has been done, it is hard to believe there is a market for yet another.

Simon

rattler21 posted:

Glacier Park, Key, Oriental, Overland, Pecos River, Precision and Wasatch.     If you can't run with the big dogs, stay on the porch.    John in Lansing, ILL

Of those names, only Glacier Park, Precision and Key are actively importing Locos.

Simon

Matt Makens posted:

Kohs & Company has the Big Blow GTEL as a twinkle in his eye. I  was talking with him about it at the march meet and the price on that one should be less than the Big Boy he's building at $6K

When I ordered my 1st and only Kohs model (Challenger), about 10 years ago, George mentioned the Big Blow had never been done right and he was thinking of doing it.  But, I don't see it happening in my buying lifetime. Although the OMI model has some inaccuracies (all brass models do) it's a pretty darn good model of this prototype. 

Butch

Hey Guys (that means you Brad)

All roads lead to the auction,and judging from the pre-bid prices,the hobby is still alive. In regards to high prices paid recently on websites,perhaps not all is as it seems? One thing is for sure,the era of reasonably priced new brass models is gone as quotes from Korea are way up (boxcars 300 and up/diesels 1800 and up/steam 2500 to 3500 and up) . Perhaps we witness the end of the brass era? Sunset may chug along allowing for their economy of scale with the 3 rail items,but how many other models will be done at these price levels is a good question. That may be why were seeing prices driven up on certain items,but 2X the going price for UP turbines seems a little suspect.......

brassmonger

(multum in parvo)

ASM148 posted:

(multum in parvo)

 I knew there was a reason my mom made me take Latin...

 

Dear Bill,

Welcome to the OGR Forum!!! Your immense background in your business of importing, collection purchases and selling of same, and having a pulse on the O scale brass community I hope will enlighten us.

You have come along way from Domino Lane in Philly !!!!! Regards, John

ASM148 posted:

That may be why were seeing prices driven up on certain items,but 2X the going price for UP turbines seems a little suspect.......

 

 

To get these kinds of prices BT must have a group of followers who avoid O scale shows, eBay, other quality dealers and information sources that are plentiful in today's world.  Or, they are so reclusive they are willing to pay about anything to make their acquisition simpler. The selling price for the #61 turbine is high, but they don't come available every day, the 8500 HP turbine at $6K borders on ludicrous. I guess it's good to have zealots on your customer list. 

BH

up148 posted:

ASM148 posted:

That may be why were seeing prices driven up on certain items,but 2X the going price for UP turbines seems a little suspect.......

 

 

To get these kinds of prices BT must have a group of followers who avoid O scale shows, eBay, other quality dealers and information sources that are plentiful in today's world.  Or, they are so reclusive they are willing to pay about anything to make their acquisition simpler. The selling price for the #61 turbine is high, but they don't come available every day, the 8500 HP turbine at $6K borders on ludicrous. I guess it's good to have zealots on your customer list. 

 

BH

Or, these are people that have adequate amounts of disposable income to render this entire debate totally moot as well as totally irrelevant to the average O scale modeler. 

mwb posted:

up148 posted:

ASM148 posted:

That may be why were seeing prices driven up on certain items,but 2X the going price for UP turbines seems a little suspect.......

 

 

To get these kinds of prices BT must have a group of followers who avoid O scale shows, eBay, other quality dealers and information sources that are plentiful in today's world.  Or, they are so reclusive they are willing to pay about anything to make their acquisition simpler. The selling price for the #61 turbine is high, but they don't come available every day, the 8500 HP turbine at $6K borders on ludicrous. I guess it's good to have zealots on your customer list. 

 

BH

Or, these are people that have adequate amounts of disposable income to render this entire debate totally moot as well as totally irrelevant to the average O scale modeler. 

O scale is a big umbrella but from my humble observations there are probably more brass buyers than there are buyers of much of the ca. 1940's-1960's parts and kits that seem to proliferate O scale meets. 

Rule292 posted:

mwb posted:

up148 posted:

ASM148 posted:

That may be why were seeing prices driven up on certain items,but 2X the going price for UP turbines seems a little suspect.......

 

 

To get these kinds of prices BT must have a group of followers who avoid O scale shows, eBay, other quality dealers and information sources that are plentiful in today's world.  Or, they are so reclusive they are willing to pay about anything to make their acquisition simpler. The selling price for the #61 turbine is high, but they don't come available every day, the 8500 HP turbine at $6K borders on ludicrous. I guess it's good to have zealots on your customer list. 

 

BH

Or, these are people that have adequate amounts of disposable income to render this entire debate totally moot as well as totally irrelevant to the average O scale modeler. 

O scale is a big umbrella but from my humble observations there are probably more brass buyers than there are buyers of much of the ca. 1940's-1960's parts and kits that seem to proliferate O scale meets. 

 

I was thinking more of the bell curve population in between those 2 groups, the average modeler.

Additional thought re Brassmonger's comment about brass pricing:  we have gone through a long, severe recession since 2008-2009, a very slow, grinding recovery and, seemingly,  a current improved condition. During that period, prices and wages didn't budge. Now, pent up demand is re-surfacing, so brass prices are going up - - - maybe even in tandem with house prices !

The Seacrest collection will start out hot and heavy but it remains to be seen with 2 more auction dates where prices wind up, as Bill pointed out new imports can only go up, Key imported only 40 cab forwards [per there website] and this trend will continue as these ultra detailed models keep getting one upped by the next import. these are small factories hand building the models, as long as their dollar number is met, unfortunately this number gets less models built each time. The end result is obvious a small group of collectors/modelers willing to participate at this level.The used market is a whole other story. JMO

Heck, the bidding on the Oriental gas electric at $550 is already over the expected estimate.

well of course it is. that's the way it works. that's all they are estimates. the fools show up on Saturday.

All motel rooms sold out within 100 mile radius from auction site.

mark s posted:

Additional thought re Brassmonger's comment about brass pricing:  we have gone through a long, severe recession since 2008-2009, a very slow, grinding recovery and, seemingly,  a current improved condition. During that period, prices and wages didn't budge. Now, pent up demand is re-surfacing, so brass prices are going up - - - maybe even in tandem with house prices !

We saw the same price drop on brass models after the dot.com bust of 2001. Took years for brass prices to finally make a come back. Rare and sought after models 1st and then a slow rise of the more average. Some never came back and never will, many 60's, 70's and 80's imports from Japan are in this group. The high price days of the 90's was something to behold. USH locos bringing $2000-3000 and today finding it hard to crack $1000. Our hobby has always been supply and demand driven.......................so you have to decide, how bad do you want it?   

BH

Some random thoughts. Some buyers are at an age where instant gratification is much more appealing than waiting for something that may or may not happen. If a project IS announced, will there be enough interest for it to be built? How long will it take to come to fruition? What will it cost? Presuming it has been done before, will it be as good as earlier models?

As for Brass Trains, there is probably more in the way of security when buying from them than some other sources, and sometimes the item is just RARE. The photography is excellent, and you can really see what you are getting. You are paying for their service as well as the item.

Add to that, this isn't really a hobby for rational thinking persons! 

Simon

I have never been to one of these auctions, it'd be neat to go see it probably.

Regarding auctions, to heck with them.  Having been aced out a number of times in the closing seconds, I have better uses of my time. Show me a model with a fixed price and I know I will actually get it.  Find the build up of anticipation and the crash are too annoying. I will leave it to others who are better at "the game".

Bob Harris posted:

well of course it is. that's the way it works. that's all they are estimates. the fools show up on Saturday.

All motel rooms sold out within 100 mile radius from auction site.

The heavy hitters are coming, they want to see what they are bidding on!

mark s posted:

Regarding auctions, to heck with them.  Having been aced out a number of times in the closing seconds, I have better uses of my time. Show me a model with a fixed price and I know I will actually get it.  Find the build up of anticipation and the crash are too annoying. I will leave it to others who are better at "the game".

Unlike Ebay no snipers here, the bidding does not stop until the highest bid is in. [emotion over rules common sense] at this point the buyers premium tends to be forgotten. just saying !

hibar posted

 

Unlike Ebay no snipers here, the bidding does not stop until the highest bid is in. [emotion over rules common sense] at this point the buyers premium tends to be forgotten. just saying !

Buyers Premium.....One of the great all time RIP OFFS. The buyer is getting NO service from the auction company, so why should he pay a premium? Charge the seller and be done with it, but GREED prevails. Figure the buyers premium right into the price you are willing to pay.

Simon

Simon Winter posted:

hibar posted

 

Unlike Ebay no snipers here, the bidding does not stop until the highest bid is in. [emotion over rules common sense] at this point the buyers premium tends to be forgotten. just saying !

Buyers Premium.....One of the great all time RIP OFFS. The buyer is getting NO service from the auction company, so why should he pay a premium? Charge the seller and be done with it, but GREED prevails. Figure the buyers premium right into the price you are willing to pay.

Simon

While I agree that the concept of a buyer's premium is a rip off, at least Stout's clearly displays the total amount before you hit the "bid" key.  And there's no reserve.  Pretty simple and low-stress - just submit a bid for the highest amount (including fees) you are comfortable paying - and either you get it or you don't. 

No question about it, Ebay has been a boon to people trying to get the most money for their stuff. Virtually gone are the days that wheeler dealers could go in and pay a widow pennies on the dollar for a deceased husbands "toys" and then resell them at huge profit. One particular individual who is now deceased comes to mind, who would take old catalogs to show and pay the "full list price" for old Lionel toys.  Anyway, the problem comes about when everyone wants to get a "deal". They bid less than the item is worth and then get angry and frustrated when they are outbid or someone snipes them at the last moment when they THOUGHT they were gonna get a "deal". If you look at an item and determine what you would be willing to pay for it and bid that amount, then if you get it great. If you get it for less then you were willing to pay you DID get a "deal", and if someone else is willing to pay more, then walk away.

The ONE best thing about Ebay is that if you wait long enough, there are always more of the same fish in the sea. If you did not get the item you craved, there will always be another one up for sale, eventually.

Live auctions like this one though, I don't quite understand how that works. Some of these items are now on Ebay too. So what, does the live auction START with the bidding price of what the item was bid up to on Ebay and go from there?

oscaletrains posted:

Live auctions like this one though, I don't quite understand how that works. Some of these items are now on Ebay too. So what, does the live auction START with the bidding price of what the item was bid up to on Ebay and go from there?

You are correct that all items for this auction are on Ebay. Ebay works as a bid catcher for us for the week leading up to the auction. Folks can leave absentee bids through our site, Ebay, and Invaluable. Come auction day,  our computer gives us the second high absentee bid and that's where we start the bidding. For example if you absentee bid $100 on a lot, but the internet is only at $60, we start at $60. We CAN NOT see your high absentee bid, so at that point it's the absentee bids vs. the live bids on both the internet and the floor. Hope this helps explain it. 

OK, so IF there were something you really wanted at any price, you could just bid $10,000 or whatever on it and then if a live bidder stopped bidding at say, $2,300 your cost would be what?

$2350.  The bids go up by $50 after $2000.  Just hope no one else uses the same strategy on the same item.  Best to pick your maximum (including the buyers premium and shipping).

Good explanation John. So what do the bid numbers on the invaluable site mean? Are those maximum bids and are`nt they visible with a cell phone to the in person bidders during the auction?

oscaletrains posted:

OK, so IF there were something you really wanted at any price, you could just bid $10,000 or whatever on it and then if a live bidder stopped bidding at say, $2,300 your cost would be what?

Whatever the minimum bid increment is.  I'm not sure how/where that is revealed for a  Live event, but it's listed for any standard ebay auction, I believe.

So if the bid increment is $100 as an example (for something in the $2300 range, that may be realistic), you would get it for $2400.  That's why some people bid odd penny amounts to fend off  someone who actually enters a high that is just over your max bid by a round number that equals the bid increment (success with this can be debated I guess). 

It's not that the other bidders can see your max bid, of course, but if I bid $2300.49, and you bid $2400, I believe I would be the winner since your $2400 doesn't meet the minimum bid increment ($100) over my max with the extra $0.49.  If you bid $2400.99 (or anything over $2300.49), I think you would get it for $2400.49, since your max included enough money to beat me by the bid increment.

{edit: John typed much faster than me }

-Dave

Live bid amounts are even.  You cannot bid $2400.99 live.  If you prebid that amount the system will only allow you to make the next acceptable bid during the live auction - which it shows you.  You do not enter amounts during the live auction (takes too long and is error prone), you only press the button for the bid amount shown on the button.  You will then see your bid in the running total. You will then see any subsequent bids higher than yours, should there be any, and gives the chance to press the button for the next acceptable bid amount.  They do about 100+ lots per hour so individual lots do go pretty fast.

There is also an option to show the max buyers premium for a bid amount.  While I too would prefer if the bid amounts included the buyers premium I am not aware of any live auctions that do not work the same way.  The bid amount goes to the seller.  Even Christie's charges a buyers premium on  million dollar paintings.

Watching this on line live, I have only seen one item I would have been willing to pay more for than it sold for.

Some low prices on passenger and diesels and firm pricing on freight.  

Who who won the Santa Fe stock cars?     I would like to work a deal for one.

Typical auction. Some go real high and some for what the listing said. I have never bid before but tried this time. Didn't win any but enjoyed the attempt. Spent my cash in Chicago.

DIck

Dripped an absentee bid on a caboose, didn't get it but tried to get in for the guarantee at the live auction  and couldn't get logged in so I just missed it. Nothing lost as it went for pretty much retail. Maybe there will something better jsut around the corner. There is no shortage of trains to buy