That is a good example of the wide variance in potential value. If somebody really needs a narrow gauge steam locomotive about the size of a K-37, has deep pockets, and is willing to spend the money, the hulk could be worth a fortune given the cost of constructing something new. But the likelihood of that is astronomically small (probably). But of course if somebody were in the market for a used ng. 2-8-2 at those prices, perhaps the Government of Guatemala would decide the time had come to dispose of some of the ex-Fegua hulks (that may or may not be still lying around). Or maybe the SAR or ????. Nothing like a buyer with money to bring new supply into the market. At the other end of the spectrum as Kelly said is scrap value. In between are a multitude of other possibilities. If you do a weighted average based on probability of the various possibilities I'm guessing you come out closer to scrap value than anything else. On the other and, if the cost of storage is low, why not just keep them around and see what develops. If the conversion to oil is successful maybe the value of the remaining hulks will go up significantly.
JBWX
Edited 1 time(s). Last edit at 08/04/2018 11:41PM by John West.