January 10, 2017
I count thirty rail-related lots, 27 of which are multi-item lots.
It appears that this auction should appeal strongly to small and medium-sized dealers. Because dealers always need to bid with their eyes on profiting through resale, collectors who like buying multiples should have a field day. I know I am being selfish, but I would love to see all these lots sold so buyers can send me images of some of the scarcer certificates I see sprinkled throughout the lots. (Okay, I admit that was a shameless plug for images for my online catalog.)
Standouts among the singles and smaller lots are three lots that feature certificates autographed by Otto Mears and Jay Gould. The descriptions of the items included in two of those lots are a little unclear, so I recommend calling Spink for confirmation before bidding. Consider this a great opportunity. Anytime there are questions about auction contents, lots tend to sell for less. (Bad for sellers; good for the buyers!)
Another lot features two variations (a proof and a specimen) of a rare Nevada Central Railway bond. I am reasonably sure that the both certificates are unique. Even in this market, I will go out on a limb and suggest Spink's sale estimate is a bit on the low side.
As mentioned above, multi-item lots make up most of the sale. Only two lots include large numbers of duplicates – 500 Illinois Central certificates in one lot and 50 1963-vintage Pennsylvania Railroad certificates in another. All the remaining 25 lots are enticing, well-mixed selections, including large numbers of both issued and unissued certificates. All those lots appear ideal for resale inventory or for bolstering collections at affordable prices.
To purchase a physical 142-page color catalog ($20), email Spink at catalogues@Spink.com. You can normally download a PDF copy of the catalog, but the link is currently broken. (I have sent Spink a message to that effect, so it should be repaired by the time most of you read this.) You can always view the catalog online at Spink.com (Rail-related stock and bond lots start at lot 998.) There you will find info on how to bid remotely.
Posted by Terry Cox at 9:03 AM