Lionel toy trains may evoke many emotions in toy train and model railroad collectors. Many of those 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 the rarest original boxed set or rolling stock.

Harris’ auctions include such names as Lionel, American Flyer, Marx, Ives, Door Fan, as well as other scales and toy trains. Both pre-war and post-war items are included in the online sales.

These items that come to auction are not modern model railroading highly detailed examples. This interest in the original Lionel models are dependent on the condition of heavy metal, in some cases hand painted toys. These toys are relics from the early to middle 20th century and have value based on scarcity and condition like many other collectibles.

Here are the top 5 sales realized from the August 28, 2021 Harris Toy Train Auction #3, as follows:

• #1. Lionel Postwar Sealed Texas Special Set in Original Boxes sold for $4,366.00 after 65 bids.
• #2 Lionel Prewar Standard Gauge #9 Green Electric Loco, with Three Green Passenger Cars #428, #429 and #430, with Orange Windows sold for $4,130.00 after 21 bids.
• #3 Lionel Prewar O Gauge Uncatalogued Set #5206E, with #262E/#260T Tender and Three Blue/Silver Passenger Cars sold for $3,186.00 after 32 bids.
• #4 Lionel Postwar Set #2502W – Extremely Rare sold for $2,596.00 after 14 bids.
• #5 Lionel Postwar Set #1653W, including #2240P/#2240C Wabash F-3 A-B Units with Freight Cars sold for $2,478.00 after 35 bids.

Here is a link to Lot #355 which closed on July 31st 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 are some paint scrapes on the right middle roofline of the 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 the 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.

For some additional background information, we wanted to show some of the prior realized prices and descriptions from Harris Toy Train Auctions in the May 8, 2021 auction. These were also dominated by Lionel sets, as follows:

• 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.

The most recent auction offered by Harris appeared to include nearly identical items that had been 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:

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 a May 8th auction. The set consists of the #400 Budd Rail Diesel Car in its original box, #2550 Bud Mail-Baggage Car in its original box and #2559 Budd 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.

The high sale for May 8, 2021 Harris Toy Train Auction was the 2502W Budd passenger set with original boxes and set box which sold for $5,347.50 after 32 bids. The second set was sold on August 28, 2021 for half the price at $2,596.00 after 14 bids. Lionel Trains is a name that transcends interest from both collectors of toys and those who seek to invest in an era of model trains before the internet, a time that was more reliant on imagination than realistic operations.

Collectors Dashboard evaluates collectibles as an alternative asset class. The same capital that could have been invested into stocks or bonds is being used to buy high-end collectibles. True sports collectors and hobbyists have a passion to own certain cards or memorabilia for quite a long time. The investor class in collectibles is solely buying an asset to sell at a later date for a profit. This keeps collectors and investors in a constant battle for who can win in auctions.

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! was sold on June 24, 2021 for $1,636.77 after 18 bids.

That should compare and contrast some of the items that have sold in recent auctions. Lionel is not the only company that sees its vintage train sets sell in auctions, but the prices paid for vintage Lionel trains seems to stand head and shoulders above other toy train companies. (Image below posted with permission from Lionel.com).