Auction house expands as model train sales soar
INCREASING interest among model railway enthusiasts across several generations has led to one of the country’s specialist auction houses expanding its staff and boosting the number of sales it holds each year.
Lacy Scott & Knight (LSK), a 152-year-old auction house based in Bury St Edmunds, has a toys and collectors’ models department whose manager and auctioneer, Oliver Leggett, says has seen business increase by almost a third in recent years.
“Sales of model trains have increased by about 30% in the past two to three years, and 2020 was our best financial year despite closures due to Covid-19,” he said. “There are more people selling collections due to such factors as downsizing or, sadly, collectors passing away, and demand is at an all-time high and prices are strong.
“The market is also slightly changing, with more modern products and younger people, perhaps in their 50s, buying diesels.
“With no live audiences currently in our saleroom, we are holding online auctions only, and collectors are finding it easy to buy in this way. We also accept telephone and commission bids, but live bidding now accounts for about 75% to 80% of winning bids.”
Oliver, who is 29 and has been with LSK for more than eight years, said a trainset had even found its way into the Leggett household.
“We gave my eight-month-old son Albert a Hornby OO-gauge Thomas the Tank Engine starter set for Christmas,” he said. “Perhaps it was just as much for dad as son!”
Personnel
Such is the boom in business that Nicholas Brame, 55, who has been collecting models for more than 30 years, has joined LSK to assist in running the toys and models department - the first time Oliver has had full-time support.
“His appointment will enable us to provide extra images of lots being sold, more detailed descriptions, more expertise in certain toy fields, and a new outlook on the everchanging toys and models world,” said Oliver.
The company has also increased its number of toys and models auctions each year from four to six, with the first of 2021 held on February 5.
Lacy Scott & Knight’s experience is echoed by John Goodwin Auctioneers of Ledbury, Herefordshire, which also has a specialist toys and models department. Valuer Rupert Chambers told Heritage Railway that last year was unexpectedly busy, despite the unusual trading conditions.
“Demand for model trains has been steadily increasing over the past three to five years, with a significant upturn in lots consigned and prices,” he said. “During the lockdowns there has been a resurgence, with private buyers keen to complete their layouts, or for nostalgic reasons. Hornby Dublo and Wrenn are still very desirable among the more ‘senior’ collectors, but the specific interest of the diesel traction generation has really increased.
“The scarcity of live steam has also led to some extraordinary results, even with the online-only restrictions. We have seen no signs of this having a negative impact as we feared at first. Indeed, our experience is that it may have added ‘coal to the firebox.’ Demand from the trade has also increased.”
Thornaby-based toys and models specialist Vectis, which describes itself as the world’s premier collectable toy auction house, has also seen an upsurge in business. The company held model train sales every month last year, frequently comprising more than 500 lots each time, and this is expected to continue throughout 2021.
Train specialist Mike Delaney said: “We have seen an increase in sales across the board. I would estimate an uplift of 10-15% in Hornby and Bachmann, with good quality lots selling well.”