Valuing collection

[burgesst]

Sadly my cousin passed away last week. He was a keen rail enthusiast, and the task has come to me of valuing and selling his collection. Can anyone suggest how to go about this?

It includes a garden gauge loco, a 2.5" loco with tender, ticket issuing machines, models, books and dvds.

Is there a specialist dealer who could help?

Cheers,

Burgess

 

[455driver]

Sorry to hear about the loss of your Cousin, very sad especially at this time of year.

As for valuing the collection, is there an Auction room near you, they might come out to vallue the items especially if there are some high value items in there.

 

[ilkestonian]

The thing to be aware of, which you'll probably already know, is that there are many sorts of valuations.
An insurance valuation is towards the top of the range, being the price you'd pay at a dealer to replace a lost or stolen item.
But be prepared for a major disappointment if you are looking to sell, as unless an item is particularly sought after, the price realised will likely be half or less of the insurance valuation.
It may be worth looking at eBay for sold prices of similar items to get an idea of their worth.
If you are looking at a probate valuation, I'm afraid I don't know the rules and regs around this, but there are bound to be plenty

 

[TukayAway]

Might be worth contacting and looking through the following website, they're a specialist auction house for railway memorabilia. They're closed until the New Year but are probably better suited to help.

http://www.gcrauctions.com/

 

[Bevan Price]

If there are a lot of books, some dealers might be interested, if you live within reasonable travelling distance, e.g.:

http://www.bottbooks.com/onlinebookshop/page.asp?tmplt=sys&wbpg=home

http://www.billhudsontransportbooks.co.uk/lms-railway-books.php

However, unless they are of some special / historical interest, I wouldn't anticipate you getting high prices for them - a few pounds each at the most.

 

[John Webb]

.......If you are looking at a probate valuation, I'm afraid I don't know the rules and regs around this, but there are bound to be plenty

The 'Probate Value' is what the items would sell for on the open market as second-hand. Neither the buying price as 'brand new' nor the insurance value is considered appropriate, I gather. There is a guide available on Inheritance Tax at www.hmrc.gov.uk. (I'm just going through the process following the death of my partner in November, further complicated by her dying intestate, so you also have my sympathy.)

Regards,
John Webb