Inheriting a model train collection can feel overwhelming, especially if you're not a train enthusiast yourself. You might be wondering questions like:
- Are these trains worth anything?
- Should I keep them or sell them?
- How do I even start sorting through boxes of locomotives and cars?
If you've inherited a model train collection, this comprehensive guide will walk you through key points you need to know to make informed decisions about your inherited trains.
Understanding What You've Inherited
Step 1: Take Inventory (Don't Rush!)
The first rule when dealing with an inherited train collection: don't make hasty decisions. Take time to:
- Locate all the pieces: Check attics, basements, garages, storage units, and closets. Collections are often stored in multiple locations.
- Keep everything together: Boxes, paperwork, receipts, and manuals can significantly increase value.
- Document what you find: Take photos of everything - this is especially helpful if you're dealing with a large lot of model trains.
- Look for notebooks or catalogs: Many collectors kept detailed records of their purchases, which can be helpful for organization purposes.
Step 2: Learn More About the Collection
Not all model trains are created equal. Brass trains can be significantly more valuable than plastic models and require specialized knowledge to appraise properly.
How to Identify Brass Trains:
✓ Weight: Brass trains are much heavier than plastic models
✓ Material: Metal construction with a golden, bronze, or painted finish
✓ Detail level: Extremely fine detailing with separately applied parts
✓ Original boxes: Often came in foam-lined boxes with Japanese or Korean manufacturer names
✓ Price tags: If you find old receipts, brass models typically cost $200-$1,500+ each (even decades ago)
Common Brass Train Names to Look For:
- Overland Models (OMI)
- Pacific Fast Mail (PFM)
- Westside Model Company
- Precision Scale Company (PSC)
- Tenshodo
- Kumata
- Oriental Limited
- Key Imports
- Hallmark Models
Step 3: Determine the Scale
Model trains come in different scales (sizes). The most common are:
- HO Scale (1:87 ratio): Most popular scale, about the size of your palm
- N Scale (1:160 ratio): Smaller, about the size of your finger
- O Scale/Gauge (1:48 ratio): Larger trains, often associated with Lionel
- G Scale (1:22.5 ratio): Large outdoor/garden trains
Why scale matters: Identifying the model train scale can help in determining value.
Your Options: What Can You Do With Inherited Trains?
Option 1: Keep the Collection
Consider keeping if:
- You have sentimental attachment to the trains
- You have children or grandchildren who might be interested
- You have space to display or store them properly
- The collection brings you joy or connection to your loved one
- You're interested in learning about the hobby
What you'll need:
- Climate-controlled storage is helpful (brass can tarnish in humidity)
- Consider insurance coverage for valuable pieces
- Basic knowledge of handling and maintenance
- Display space or shelving
Option 2: Donate the Collection
Organizations that may accept model train donations:
- Local model railroad clubs
- Children's museums or science centers
- Railroad museums
- Veterans organizations (model railroading is therapeutic for many veterans)
- Schools with model railroad programs
Tax considerations: Donations of valuable collections may be tax-deductible. Speak with a legal and/or tax professional first before making a decision. You may need a professional appraisal for donations over a certain amount (again, remember to consult your tax professional).
Note: Many charities prefer complete, working sets over damaged or incomplete items.
Option 3: Sell Individual Pieces
Best for:
- Collections with a few standout valuable items
- People who have time to research and market items
- Those comfortable with online selling
Where to sell individual trains:
- eBay (largest audience but fees and shipping hassles)
- Facebook Marketplace (local sales, no shipping)
- Model train forums and collector groups
- Local train shows and swap meets
Reality check: Selling individually requires:
- Knowledge of what you have
- Photography skills
- Shipping expertise to ensure safe delivery
- Time to list, answer questions, and process sales
- Patience (can take months or even years to sell everything)
Option 4: Sell the Entire Collection
Best for:
- Large collections (50+ pieces)
- Brass train collections
- Estate executors who need to settle affairs quickly
- People without model train knowledge
- Those who want a professional, hassle-free process
How it works:
- Contact a brass train specialist dealer
- Provide inventory list and photos
- Receive a fair market offer (typically 40-60% of retail value)
- Arrange shipping or pickup
- Receive payment quickly (usually within days)
Why dealers pay wholesale prices: They assume the risk, storage costs, marketing expenses, and time to resell individual pieces at retail.
Getting Your Collection Professionally Appraised
When You Need an Appraisal
Formal appraisals are often recommended for:
- Estate settlement and probate
- Insurance coverage
- Tax purposes (donations or estate taxes)
- Divorce proceedings
- Collections valued over $10,000
- Rare or historically significant pieces
What to Expect in a Model Train Appraisal
A professional appraisal evaluates:
Condition Factors:
- Paint quality and finish
- Missing or broken parts
- Original packaging
- Modifications or upgrades
- Tarnishing or corrosion
Rarity Factors:
- Limited production runs
- Prototype vs. production models
- Specific road names (some are rarer)
- Manufacturer reputation
- Historical significance
Market Factors:
- Current demand
- Recent sales of comparable models
- Regional popularity
- Overall hobby market conditions
Free vs. Paid Appraisals
Free informal valuations (what most dealers offer):
- Quick assessment for selling purposes
- Ballpark estimate of wholesale value
- No official documentation
- Usually waived if you sell to them
Paid formal appraisals (for legal/insurance purposes):
- Detailed written report
- Replacement values for insurance
- Legally defensible documentation
- Typically $100-$500+ depending on collection size
- Necessary for IRS donation deductions over a certain amount
How Much Is Your Inherited Train Collection Worth?
This is the question everyone asks, and unfortunately, there's no simple answer. Value depends on multiple factors:
High-Value Indicators
Your collection may be valuable if it includes:
✓ Brass locomotives and rolling stock (vs. plastic)
✓ Original boxes and packaging (can increase value 30-50%)
✓ Limited edition or prototype models
✓ Well-known manufacturers (Broadway Limited, PFM, Westside Models)
✓ Excellent condition (no damage, original paint)
✓ Complete sets (locomotive + matching cars)
✓ Detailed purchase records (proves authenticity and provenance)
✓ Pre-1990s production (many older brass runs were considered higher quality)
Reality Check: Common Misconceptions
Misconception #1: "It's old, so it must be valuable."
- Reality: Age alone doesn't determine value. A 1970s brass locomotive in excellent condition is worth more than a 1940s plastic train set.
Misconception #2: "My relative paid $X, so it's worth that now."
- Reality: Some trains appreciate, others depreciate. Market demand shifts over time.
Misconception #3: "eBay sold listings show it's worth $X."
- Reality: eBay prices often include retail markup, shipping, and seller profit. Wholesale offers will be 40-60% of these prices.
Misconception #4: "The trains don't run, so they're worthless."
- Reality: Brass trains are valued primarily for their scale detail and craftsmanship, not operation. Non-running brass can still be valuable.
Red Flags: Protecting Yourself from Lowball Offers
When selling an inherited collection, be wary of dealers who:
🚩 Pressure you with a false sense of urgency to "sell immediately"
🚩 Offer to buy without examining the collection in person or via photos
🚩 Suggest "it's all junk" to get a bargain
🚩 Fail to answer your questions or address concerns
Best practice: Get 2-3 quotes from reputable dealers before deciding. Remember the old saying, "If it sounds too good to be true, it probably is."
Remember: Sentimental value and monetary value aren't the same. One child might treasure Dad's first locomotive even if it's not the most valuable piece, for instance.
Tax Implications of Inherited Collections
Estate taxes. Capital gains. What does that have to do with the train collection you inherited from grandpa? Well, this is exactly why it's a must to consult with a legal and or tax professional so you can make an informed decision.
For instance, say your father brought a brass locomotive in 1985 for $400. But when he passed away in 2025, that model train was worth $2,000. You end up selling it for over $2k - do you owe taxes on that?
Or, assume you decide to donate your late husband's collection to a charitable organization. Over a certain amount, that donation would need a formal appraisal.
These are the sort of questions you need to think about. Don't assume you know the answer or count on what someone else says - every situation is unique. The only smart approach is to speak with a qualified professional who has the expertise necessary to provide the insight you need.
Our Buying Process
We aim to keep our process as simple, transparent, and respectful as possible because we understand how overwhelming it can seem:
1. Take inventory.
Get clear photos and create a list of your train collection. Include details like: manufacturer, scale, road name, condition notes, etc.
2. Quote it.
Especially in today's times, values can fluctuate considerably. Pricing is influenced by current market conditions including recent sales, as well as the condition of the items you're selling.
3. Sell your trains.
If you're local to the Western New York State area, we can pickup in person. We also work with sellers nationwide by providing pre-paid, fully insured shipping labels.
4. Get paid.
Once trains are received, allow up to 5 business days for inspection. We issue payment via business check or Paypal, your choice.
Frequently Asked Questions
"Should I clean the trains before selling them?"
Especially when it comes to brass trains, it's generally not recommended. Improper cleaning can:
- Remove original factory finish
- Cause irreversible damage
- Actually decrease value
"What if I can't find all the original boxes?"
Missing boxes decrease value but don't make trains worthless. A brass locomotive in excellent condition without a box is still valuable.
"Some trains are damaged. Should I have them repaired first?"
Generally no. Repairs cost money, and you may not recoup that expense. Disclose damage honestly and let the buyer decide on repairs.
"How long does the selling process take?"
- To a dealer: Depends on if you're selling locally/in-person or shipping the collection
- Individually on eBay: Can take 6-12 months or more to sell an entire collection
- At auction: 2-4 months from consignment to receiving proceeds
"Can I sell just the valuable pieces and donate the rest?"
Absolutely! Many people choose to keep a few sentimental favorites, sell the other pieces of value, and donate the rest.
Next Steps: Getting Started
If you've inherited a model train collection and need guidance:
Begin with a few simple steps:
- Locate and secure all trains - Check all possible storage locations
- Take photos - Document what you have so nothing is overlooked
- Gather any paperwork - Original receipts, catalogs, or inventory lists
Next,
- Get informal valuations - Contact 2-3 reputable dealers for opinions
- Decide on your goal - Keep, sell, donate, or a combination?
- Research more if needed - Learn about the specific models you have
Before making final decisions,
- Get a formal appraisal if needed - For legal/estate/tax purposes, or high-value collections
- Compare multiple offers - Don't accept the first offer without shopping around
- Take your time - Don't let anyone pressure you into a quick decision
Honoring Your Loved One's Collection
For many collectors, their model trains represented decades of passion, research, and careful acquisition. Whether you decide to keep, sell, or donate the collection, you're preserving a piece of their legacy.
A collection represents:
- Countless hours of enjoyment
- Connections with fellow hobbyists
- Pride in craftsmanship and detail
- Memories of train shows, purchases, and building layouts
- A link to railroad history and American heritage
By taking the time to understand what you've inherited and making informed decisions, you're honoring the care your loved one put into building their collection.
Ready to Sell Your Model Train Collection?
Nightwatch Trains offers free, no-obligation quotes. We understand this is often an emotional and overwhelming time, and strive to help with compassion and expertise.
