Lionel toy trains bring many emotions in collectors who are into toy trains and model railroading. Many collectors have memories of a shiny silver passenger train beneath the Christmas tree. Harris Toy Train Auctions channels that nostalgia from collectors who bid on rare original boxed set or rolling stock within this scope. These include Lionel, American Flyer, Marx, Ives, Door Fan, and other scales and toy trains that are pre-war and post-war. The reality is that Lionel trains are still chugging in online auctions.

The number of hobby shops who still have major sales tied to toy trains and model trains is just not what it used to be back in the twentieth century. Hobby shops did get a boost from COVID, but supplies can still an issue. Harris Toy Train Auctions was created to help centralize some of these higher-end items in a dedicated online auction format. It turns out that the auctions to date have seen Lionel handily dominate in high-dollar sales.

These items that come to auction are not modern model railroading’s highly detailed examples. This interest in the original Lionel models is dependent on the condition of locomotives and rolling stock which was constructed like many things from the early to mid 20 century. This is effectively with enough metal to stop a real train.

In some cases the vintage toys look hand painted. These toys are relics from the early to middle 20th century and have value based on scarcity and condition like many other collectibles.

Collectors Dashboard tracks high-end collectibles as an alternative asset class. That translates to investors buying collectibles rather than stocks, bonds and property. Whether or not high-end toy trains will qualify as an investment is something we would keep open for debate. That said, some model railroad collectors have spent five-figure and six-figure dollar amounts for their full sets and accessories.

Here is a link to Lot #355 which closed on July 31, 2021 selling for $1,168.50 after 37 bids and a $10.00 minimum bid. A description from the website gives a better understanding of what collectors were looking for in an auction that started from $10.00:

“Lionel Postwar #2245 Texas Special AB Units, with the A Unit in C7 plus, although there is some paint scrapes on right middle roofline of engine (see pictures). This piece has been rarely used and is bright shiny red. The #2245 B Unit is in C8 minus, with a small paint scrape in the upper corner outside roof edge. The red paint on this is shiny and bright, as well as the silver. Comes with a #2245 master carton, #2245P engine box and insert, with instructions and #2245C original box with inserts.”

Here are realized prices and descriptions from other toy sets by Lionel in 2021:

• Beautiful MINT Lionel Postwar Super Rare 2502W Budd Passenger Set with Original Boxes and Set Box was sold on May 8, 2021 for $5,347.50 after 32 bids with a $20.00 minimum bid.
• Lionel Postwar 2124W with BLACK 2332 PRR GG1 Passenger Set with Original Boxes and Set Box was sold on May 8, 2021 for $5,192.00 after 32 bids with a $20.00 minimum bid.
• Gray Nose 2023 Lionel Postwar Anniversary Freight Set No. 1467W, circa 1950 in individual OBs and set box was sold on May 8, 2021 for $4,484.00 after 27 bids with a $20.00 minimum bid.
• Lionel Postwar No. 2270W Jersey Central FM Aluminum Passenger Set was sold on May 8, 2021 for $3,894.00 after 31 bids with a $20.00 minimum bid.
• Beautiful Stunning Lionel Postwar Black 2332 Pennsylvania Electric GG1 with Original Box was sold on May 8, 2021 for $3,658.00 after 35 bids with a $20.00 minimum bid.
• MINT Unrun Lionel Postwar 2511W Pennsylvania EP5 Electric Set with Original Boxes & Set Box was sold on May 8,2021 for $3,540.00 after 26 bids with a $20.00 minimum bid.
• Very Tough Early 1945 Lionel Postwar O gauge set 463W with Original Boxes and Set Box was sold on May 8, 2021 for $3,540.00 after 29 bids with a $20.00 minimum bid.
• Lionel Postwar Santa Fe F3 Passenger Set No. 2234W with individual OBs and set box was sold on May 8, 2021 for $3,450.00 after 31 bids with a $20.00 minimum bid.

Current auctions offered by Harris include identical items that were sold in an earlier auction. The description in an ongoing auction mentions the Lionel Postwar Super Rare 2502W Budd Passenger Set with Original Boxes and Set Box which sold on May 8, 2021. This had a $2,000 current bid:

Lionel Postwar Set #2502W – Extremely Rare. This set purportedly only 600 were made by Lionel in 1958. This is the second set that I have in my possession with the first set having been sold at May 8th auction. The set consists of the #400 Bud Rail Diesel Car in its original box, #2550 Bud Mail-Baggage Car in its original box and #2559 Bud Passenger Car in its original box, with operating packet and instructions. Each of the three trains are in overall C7 plus to C8 minus and all three boxes are in near brick status.

Aside from Lionel Trains some other names in the toy train business do not command comparable realized prices. The Auction giant eBay has many completed sales for Lionel. The shift in collectability is not just for Lionel trains but advertising accessories that collectors chase. Here are recent eBay sales to take notice of:

• Rare 1941 Prewar Lionel SE-22 Neon Drumhead Dealer Service Station Sign, Ex was sold on August 22, 2021 for $14,100.00 after 42 bids.
• Rare 1934 Prewar Lionel 14 x 21 Illuminated Dealer Display Sign by Neon Products was sold on August 1, 2021 for $3,450.00 after 33 bids.
• Rare 1925 Original Prewar Lionel 25th Anniversary Executive Dealer Paperweight was sold on August 7, 2021 for $3,315.00 after 48 bids.
• Extremely Rare, Original 1923 Prewar Lionel Dealer Toy Train Paper Announcement was sold on August 7, 2021 for $3,025.00 after 19 bids.
• Very Rare, Original 1925 Prewar Paper Lionel Dealer Silver Jubilee Announcement was sold on August 7, 2021 for $3,025.00 after 41 bids.
• Rare Original 1924 Prewar Lionel Always Lead Dealer Toy Train Paper Announcement was sold on August 7, 2021 for $3,025.00 after 9 bids.
• Lionel Early Prewar Standard Gauge 34 Locomotive Outfit in Original Box 1920’s? was sold on August 1, 2021 for $1,975.00 after 46 bids.
• Lionel Pre-War Set No. 275W-ALL ORIGINAL w/SET BOX-RUNS-GORGEOUS! NO RESERVE!!! was sold on June 24, 2021 for $1,636.77 after 18 bids.

Based on the top existing sales, Lionel Trains is a name that seems to be attracting the deep-pocketed collectors in model trains and toy trains. Again, whether or not those are bought for joy or for investment is something that can be up for debate.

Hobby shops and model train sets were much more popular before the age of the internet, but the internet is helping to keep the industry going. Lionel dates back to 1900. Many collectors are still children at heart, and some of those collectors covet the timeless train genre with a train set on the living room floor. Some of the die-hard fans may have full rooms in their home dedicated to their train sets, which feels like an investment category on its own merit.