WHERE to sell or WHO to use to liquidate huge train inventory?

20% seems like a very good deal for a fee.    A reseller would probably not even give you 50 cents on the dollar.   But he would give you your money  up front.      He would be stuck with the inventory until he could sell to recoup his investment.

I would be very surprised if the 20% fee included coming to your place, packing the trains, and hauling them to the auction house, especially in this era of high gas costs.

Just as a point of comparison, opted to liquidate my lifetime collection by establishing a "virtual estate sale" website.   Seven years and counting, all-in cost thus far has been 28% of original prices paid for merchandise sold.  Does not include donation of much time and labor to the effort, but it's been fun and keeps the brain active.

Why not check directly with Trainz and find out their details.  They are just one click away as they are an  OGR Forum sponsor.  Their ad resides at the top of this page in the advertisers section ... in the 4th row down from the top.

Ted Maurer is another auction house that does a lot of trains.

I would suggest Stouts. Its an actual auction house. You get what is bid minus a sellers premium. Quality items will likely fetch more that what the outfits that simply buy your trains and resell them will give you, usually a fraction of market value.

Pete

For truly mint, high end stuff, Stout Auctions is far and away the best place.  They will also come to your place for pickup.  I used them several years ago for my overstock and was very happy with the outcome. One of their auction/warehouse facilities is in Pennsylvania so they are not far from you.

I second Stout as they seem to get the most bids for their auctions. Be weary that Stout may be picky as they want most items with their OEM boxes.

I'm thinking about selling most of mine as I would like to switch scales.   Let us know how you come out if you sell.

I've heard horror stories of sellers being low balled. Be careful of who you get to sell your collection.

@trumptrain posted:

Why not check directly with Trainz and find out their details.  They are just one click away as they are an  OGR Forum sponsor.  Their ad resides at the top of this page in the advertisers section ... in the 4th row down from the top.

Pat makes a good recommendation. When I closed our train shop, Trainz in Georgia gave us a good offer and came by Baltimore on the way back from York to collect them and take them to Georgia. They are true professionals and are quite honest.

Jim, VINCE is back in the game!

Ambrose Bauer, Pittsburgh.  Expect 10 to 15% of purchase price.  Related expenses, trucking, sorting, cleaning, etc. are monitored and deducted as sales expense.  At the time of Matt Irwin's death, we,(Fort Pitt High Railers) worked with Bauer to sell Matt's Trains, proceeds to his wife.   Bauer provided a truck and two workers, to Matt's home.  We helped load the truck. There was/were additional trains beyond, what the truck would hold.  We, (Fort Pitt High Railers) rented a second truck, for the remaining trains.   Lots of work, expect 10 to 15% of purchase price.  A hot item that got close to purchase price, was a recent issue Lionel Big Boy.   Sad day,  I spent a few more days removing what was left, of Matt's home layout, lower level of the home.   Most of the layout, less the few remaining switches, and track, was burned.   

I was very pleased with the results Drew Bauer at Ambrose Bauer got for me selling my collection. The amount of “eyeballs” he put on his auctions, to me, was worth the commission he changed.
His fee for sending two men and a truck to pick the stuff up a my house was worth it to me. He combined my stop with another east of me to greatly reduce my share of the expense.

All in all a very positive experience.

Brad

@Jim Rawlings posted:

If one wishes to sell a lifetime collection of mint engines, freight and passenger cars, both 3 rail and tinplate, I am aware of such companies like Cabin Fever Auctions as well as Trainz.  Cabin Fever comes to your location, packs, removes and conducts the auction for, as I understand it, a 20% fee deducted from gross sales. I have no info on Trainz or any others.  What is needed is the best auction site which comes to your location to pack up, remove the trains and then provided the best return.  So, if anyone has some helpful input, please respond here or send me an e mail at "JDRlaw1776@gmail.com".

Thanks very much!!!  Jim

Jim either Pete at justrains or Kenny at Trainland might be good places to call. Even if they are not onboard both men are honest and may be able to point you in the right direction

Just a thought Jim, but it appears that you live in Pennsylvania, so you are probably within a 3 hour drive of York.

I would rent a table at the next York show, pack up all of the stuff, and man a table for three days to sell it.  (Don't take any "smalls".  I.e., low price items that take up table space. Set a limit of something like $30 and above.)

Mark it 10% to 15% less than fair value, and give additional discounts if people buy multiple items in lots.  Put sets of related cars together in advance for bulk sales.

Advertise in advance by posting a list here, and make it cash sales only.  (Unless there is a trusted dealer from whom you will take a company check.)   Post and sign it as a Private Collection Liquidation Sale.

Hopefully, you can sell more than half of the stuff, and while you are there, go to the other tables and tell them that you are going to auction off all of the remaining items 2 hours before the show closes.  I am not sure if you can run an auction from your table, but there should be some place very close by where this can be done. Open each bid at 50% of fair value. You would be surprised at how often a frenzy of bidding can occur.

Anything that is priced at a real bargain may very well be bought up by other dealers before the show even opens.

Be sure to bring a counterfeit detector pen and check every bill $20 and above.  And be sure to bring along at least one helper.

It would be interesting to know approximately how many items you have.  100?  200?  500?

Even if you are planning to have a dealer come to your house to look at the entire collection, you are going to have to prepare a complete itemized list of everything and the prices in advance, plus pack it up yourself, unless you want to pay $40 to $60 per man hour for "packing charges."   So, since you are going to do that stuff anyway, take it to York.

I have doubts as to whether a dealer or auction company you contact would want to take "everything" in your collection.  They will almost certainly pick and choose.  If you make them take "all or nothing", then they are going to pay you very little for the items that they don't want.

So go to York first.  What have you got to lose?  Yes, it will be exhausting, but getting rid of a large bulk of items in one swoop will be worth it.

Mannyrock

Mannyrock,

You obviously have never dealt with Stout Auctions.  Basically none of what you said is true of them.

Hot Water was very happy with Stout, in fact I got one of his engines in his auction

I don't know what to think. Only getting 10 to 15 % seems low to me considering what this stuff is bringing on Ebay.

I'm doing inventory on my stuff and I'm up to 29 steam locomotives and counting. I hope if Jim sells his trains he does a lot better than 15%.

@Mike CT posted:

Ambrose Bauer, Pittsburgh.  Expect 10 to 15% of purchase price.

That’s a typo, right?  10-15%?

Any old Legacy diesel is $500-600.  Can you imagine if you listed a Legacy diesel here (or anywhere) for less than $100?  It would sell in a nanosecond.

Gentlemen (prrhorseshoecurve, feet, Randy Harrison, Jim M. Sr., Mike CT, BradF, ThatGuy, Mannyrock, prrjim, Nation Wide Lines, hobby-go-lucky, Patrick w, Mark Spadaro, Pete and Bob Bartizek)....WOW, such great feedback! I am so thankful for all your help and advice.  You've provided a weatlh of information and insights.  THANK YOU ALL SO VERY MUCH.  I will check out all your recommendations.  Right now, without having done any research except with regard to Cabin Fever Auctions in Lancaster, PA, I will definitely do some comparison research.  As I said above, Cabin Fever has the greatest appeal to date.  Reason:  they send the trucks, packing materials, drivers/helpers, etc. right to my front door, pack up and load everything, create a full inventory listing when they return to Lancaster, then choose the best auction date.  The date is posted and I've had several dealers tell me they've had great success in moving excess product.  And, as of my last chat with Cabin Fever, their fee is 20% of the gross sales....no hidden costs.  At my age and general health, it's exactly what I need.  I did York for many years with Billy Lucas of Ready to Roll out of Miami, FL.  Those days are gone unless I decide to rent a few tables in another hall after I unload most of my collection.  I have two 8x10x16 storage facilities which are totally full of nothing but mint and sealed items, all of which would approximate 150,000.00 in retail value.  So, with such a huge amount, I need someone who can handle such a removal and sale at the best price possible.  Yes, I realize that I will take a huge loss, but God willing, it will turn out okay.  I will continue to post on OGR as some of you have seen until I sign up with the auction company (after I do the research you folks have recommended).

Again, you guys are terrific and I am so thankful for your help.

Jim

I believe the 10-15% is the auctioneer's fees for sold items, but I could be wrong.   You would get 85-90% of gross minus the costs of picking up/sorting costs of the auctioneer is my understanding.  That's quite good if true.

@superwarp1 posted:

Hot Water was very happy with Stout, in fact I got one of his engines in his auction

I'd get that autographed and flip it.😉

Gary (superwarp1)...Sorry I missed my thanks to you....you advice is most helpful.

Landsteiner....could you send me an email if you are referring to Cabin Fever Auctions with more detailed explanation?  Thanks.  Jim

I have no personal knowledge. I was commenting based upon:

Cabin Fever has their terms on their website

@Landsteiner posted:

I have no personal knowledge. I was commenting based upon:

@Mike CT posted:

Ambrose Bauer, Pittsburgh.  Expect 10 to 15% of purchase price.

I assume that Mike meant that Ambrose Bauer would take 10-15% commission on gross sales minus the expenses of picking up and inventorying the collection, but have no personal experience.  Another poster thought that meant one would realize 10-15% of gross sales, which seems almost certainly wrong and too low, but I don't know for sure.

Example:  If you purchased a very nice steam engine for $1,000.  Auction price $150.

Well Jim.

With the hundred and hundreds of items you have, I stand corrected.  Don't take them to York.

You will need to deal with one of the big auction companies mentioned above.

But, unless they tell you in writing that there will be no charge for coming to your storage unit, packing, labeling, transporting and itemizing all of your units, there is a big question of what they will charge for this.  Unbelievable to me that they would do all of this for free from just a final charge of 20% off the top.  Are they really agreeing to eat all of those costs?

So, I think that that is the big thing that needs firm investigation before selecting the company.  Get it in writing and get all of the itemized costs disclosed.

Mannyrock

Remember - those auction houses make money on both ends of the sale. I’m guessing 20% sellers premium and 20% buyers premium. So they will make their money.

recommendation - use Stout - the best in the Business!

“but it's been fun and keeps the brain active.”

Figure out what u think U’d get n sell tickets for a raffle. For Whoever won it would be worth the trip to pick up. Not only for individuals  but also clubs and auction houses may buy a ticket or a handful

Hope all is well with you Jim.  If I'm not mistaken, I've purchased items from you here on the forum and always had a pleasant experience.

My daughter has instructions to contact Cabin Fever auctions when the time comes.  I'm not going to burden her with trying to piecemeal sell everything. 

FWIW, I've bid on lots at Stout and Cabin Fever.  I've noticed that both seem to generally get high ending bids, so I don't think you would be disappointed in the results.  I never see any real lowball results.

Best of luck, and please let us know what you choose and why.

Jim   I will take that collection from you for a Dollar three eighty

@Jim Rawlings posted:

Gentlemen (PRRHorseshoecurved, feet, Randy Harrison, Jim M. Sr., Mike CT, BradF, ThatGuy, Mannyrock, prrjim, Nation Wide Lines, hobby-go-lucky, Patrick w, Mark Spadaro, Pete and Bob Bartizek)....WOW, such great feedback! I am so thankful for all your help and advice.  You've provided a weatlh of information and insights.  THANK YOU ALL SO VERY MUCH.  I will check out all your recommendations.  Right now, without having done any research except with regard to Cabin Fever Auctions in Lancaster, PA, I will definitely do some comparison research.  As I said above, Cabin Fever has the greatest appeal to date.  Reason:  they send the trucks, packing materials, drivers/helpers, etc. right to my front door, pack up and load everything, create a full inventory listing when they return to Lancaster, then choose the best auction date.  The date is posted and I've had several dealers tell me they've had great success in moving excess product.  And, as of my last chat with Cabin Fever, their fee is 20% of the gross sales....no hidden costs.  At my age and general health, it's exactly what I need.  I did York for many years with Billy Lucas of Ready to Roll out of Miami, FL.  Those days are gone unless I decide to rent a few tables in another hall after I unload most of my collection.  I have two 8x10x16 storage facilities which are totally full of nothing but mint and sealed items, all of which would approximate 150,000.00 in retail value.  So, with such a huge amount, I need someone who can handle such a removal and sale at the best price possible.  Yes, I realize that I will take a huge loss, but God willing, it will turn out okay.  I will continue to post on OGR as some of you have seen until I sign up with the auction company (after I do the research you folks have recommended).

Again, you guys are terrific and I am so thankful for your help.

Jim

Warning! Make sure you have photos and inventory of ALL items you are planning to sell BEFORE they come.

@bluelinec4 posted:

Jim   I will take that collection from you for a Dollar three eighty

Ben.....such a big spender!! Not even a breakfast at the CSD? 🙄

@Jim Rawlings posted:

Gary (superwarp1)...Sorry I missed my thanks to you....you advice is most helpful.

Landsteiner....could you send me an email if you are referring to Cabin Fever Auctions with more detailed explanation?  Thanks.  Jim

Your welcome, I’m surprised @Hot Water hasn’t chimed in.

I would recommend you create your own inventory, independent of any auction house that you decide upon.   Photograph everything also.  Letting someone else do an inventory, after letting the items out of your possession is a recipe for disaster.

@hobby-go-lucky posted:

Just as a point of comparison, opted to liquidate my lifetime collection by establishing a "virtual estate sale" website.   Seven years and counting, all-in cost thus far has been 28% of original prices paid for merchandise sold.  Does not include donation of much time and labor to the effort, but it's been fun and keeps the brain active.

Thinking about this statement, may have missed the point of relevance to the original question posed by quoting cost relative to original prices paid, which of course entangles the issues of diminution or appreciation in value of the merchandise while in my possession.  All-in cost (domain,  hosting, PayPal fees and shipping expenses but excluding time and labor to design and administer website and product listings) based on actual sales prices has been 15%. 

So an auction house charges 20% from the seller and another 20% from the buyer and another $20 more than normal shipping charges. So, I buy something for $100 and the seller gets $80 less any other handling fees. But I pay $120 plus $40 for shipping when normal shipping would have been $20. So I paid $160 and the seller got $80. Now if I bought the same item from Trainz, the item is listed along with details, photos, and a return guarantee, with normal shipping charges and sometimes no charge for shipping. In other words, I will not buy something at auction unless the price is a bargain whereas I will buy from Trainz with confidence. There is something honest with the way Trainz does business. If I were you, I would take 100 items out of storage, make an inventory of those items (including their condition), send the inventory to Trainz and let them tell you what they will do for you.

Whatever route you use (unless, plan on losing about 50% of current market value.

@John in California posted:

So an auction house charges 20% from the seller and another 20% from the buyer and another $20 more than normal shipping charges. So, I buy something for $100 and the seller gets $80 less any other handling fees. But I pay $120 plus $40 for shipping when normal shipping would have been $20. So I paid $160 and the seller got $80. Now if I bought the same item from Trainz, the item is listed along with details, photos, and a return guarantee, with normal shipping charges and sometimes no charge for shipping. In other words, I will not buy something at auction unless the price is a bargain whereas I will buy from Trainz with confidence. There is something honest with the way Trainz does business. If I were you, I would take 100 items out of storage, make an inventory of those items (including their condition), send the inventory to Trainz and let them tell you what they will do for you.

We all make choices but your numbers are way out of whack. Trainz is showing engines at 1500 bucks that were sold at Stouts for 500 bucks. Even with shipping and 16% premium it won’t come close to Trainz price.

Pete

I think Pete has made my point... The seller of a $1500 engine at Trainz received maybe 50%, or $750.
The seller of the $500 engine at Stouts received maybe 80%, or $400.

The buyer at Trainz was told exactly what was being sold and was given a money back guarantee and no shipping charges (I think the policy is free shipping over a certain price). The buyer at Stouts was shown a photo and a very small description, for sale as shown, and an inflated shipping charge.

In this example, the seller got the better deal from Trainz. And the buyer got the lower price from Stouts. But, the buyer at Trainz went into the deal with his eyes wide open and could return it within 30 days and the buyer at Stouts was basically told, "Buyer beware."

So, if I am a seller, Trainz "may" be the better choice, and I get to know what is happening as I go into the deal. If I am a buyer, I will check out both sites, but I want a steep discount whenever there is little description, no guarantee, and steep shipping charges. I have bought from both companies and I have been satisfied with both companies. I have enjoyed big discounts at Stouts and I have no complaints about the price I have paid (I drop out of bidding when it goes above 50% of my estimated value). I have enjoyed the security of buying from Trainz and I have no complaints about their customer service.

But I have not sold through either company. Wouldn't it be great if someone sold half with Trainz and half with Stouts or Cabin Fever? Then they could report back to us with actual numbers.

@John in California posted:

I think Pete has made my point... The seller of a $1500 engine at Trainz received maybe 50%, or $750.
The seller of the $500 engine at Stouts received maybe 80%, or $400.

The key difference is that the item being sold at an auction house sells on a specific date and the item listed by Trainz may linger for months and never sell at the listed price.

There is also Train City in Cocoa beach, FL.  They buy the whole collection and then sell it off through on-line retail, ebay, and choochoo auctions.  They will travel across country to pack and pickup trains.  The will quote you a price, and if you accept, pay you. No hassle.

If you sell via auction they price you get depends on the demand and rarity in addition to condition.  I've see engines and NIB Atlas reefers go for twice their retail price.  Of course, I've see the reverse.

Jan

Does Trainz pay you for your items or do they sell it as a consignment, where you get paid as each item is sold?

@Frank Mulligan posted:

Does Trainz pay you for your items or do they sell it as a consignment, where you get paid as each item is sold?

Here ya go…

https://sellmytrains.com/How-it-works/

Here's my approach. Do nothing. Enjoy my trains till the very end. Let my son (a train person) figure out what to do. My present concern is, as baby-boomers die off, the market will be flooded with trains. So, who knows what the market will be like a few decades from now? Also, I never up-sized, so I do not have to down-size. Mark

I would love to see  what database Trainz -  "Once we have made an inventory of the collection, we will send the trains through our proprietary Trainz valuation process, to determine the Market Value of the trains.", uses as a reference.  I know they get a bit odd on pricing,  some things start out at a good price, others quite a bit high.   I am watching 2 specialty cars they have, one is new in the box, one is used, the NIB started out cheaper than the used boxless one, but now after several weeks they are neck and neck.  The longer something remains unsold at Trainz, the less expensive it gets.  If there is anything you just can't seem to get a handle on is what the price of any train item constitutes a good deal.  You use Greenberg's and people say that is a waste, you try and use what things have sold for on places like Ebay, and you see where identical items and sets in identical condition can sell for an amazing difference, $50 for this one, and $200 for its competition.  I think it is all a galactic alignment of a particular item, listed at a certain price, and a particular buyer that wants it, all converging at the same time and space.    I think in Vegas, this is called a crap shoot, throw in caveat emptor, PT Barnum's observation of a sucker born every minute, and let the wheeling and dealing begin.

@CALNNC posted:

I would love to see  what database Trainz -  "Once we have made an inventory of the collection, we will send the trains through our proprietary Trainz valuation process, to determine the Market Value of the trains.", uses as a reference.  I know they get a bit odd on pricing,  some things start out at a good price, others quite a bit high.   I am watching 2 specialty cars they have, one is new in the box, one is used, the NIB started out cheaper than the used boxless one, but now after several weeks they are neck and neck.  The longer something remains unsold at Trainz, the less expensive it gets.  If there is anything you just can't seem to get a handle on is what the price of any train item constitutes a good deal.  You use Greenberg's and people say that is a waste, you try and use what things have sold for on places like Ebay, and you see where identical items and sets in identical condition can sell for an amazing difference, $50 for this one, and $200 for its competition.  I think it is all a galactic alignment of a particular item, listed at a certain price, and a particular buyer that wants it, all converging at the same time and space.    I think in Vegas, this is called a crap shoot, throw in caveat emptor, PT Barnum's observation of a sucker born every minute, and let the wheeling and dealing begin.

I myself would not use them after reading up on what they'll pay.