I spent the last part of my railroad career buying and selling locomotives and railcars for a major rail leasing company.. One of the interesting challenges of my job was getting the number crunchers to understand that for the most part rail equipment did not have a precise "market" value, but rather a range of values depending, as Kelly said, on how much a seller wanted to sell, and how much the buyer wanted to buy. What evolved was a curve, defined by high, most likely and low values, and even that can in many cases be fairly described as little more than a combination of wild ass guesses. Probably not unlike what a real estate agent might tell you if you asked him how much your house is worth.
JBWX
Edited 1 time(s). Last edit at 01/19/2020 02:13PM by John West.