Re: Steam Locomotive Values

Kelly Anderson Wrote:
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> evankamp Wrote:
> --------------------------------------------------
> -----
> > This is a strange question to ask but I am
> curious
> > for how much locomotives are valued in modern
> > times.
>
> Steam locomotives change hands so infrequently,
> and at the same time are so varied in their
> condition and historical appeal, that there is no
> way to value one other than by haggling between
> the buyer and the seller, the price coming down to
> how badly the buyer wants to buy it vs. how badly
> the seller wants to sell it.

As a follow up on this thought, while I am confident that SRC wouldn't even entertain an offer of $1,000,000 for our #90, a few years ago, Mid-Continent sold Woodward Iron #41 (#90's identical twin) for $10,000 at auction. The difference being that #41 was badly worn out, was unrestored, and was landlocked, requiring disassembly of the boiler from the frame to remove them from the property.

You can't underestimate the expense of moving one of these beasts these days. Often, the moving costs exceed the purchase price. In the case of #41, I wouldn't be surprised to learn that the purchase price was only 1/10 of the moving cost.