There are two overlapping issues being discussed here - accumulating and collecting.

I'd like to propose that the "accumulating" phase is just that. The accumulator sees a need to gather up objects for future use. Whether they are lanterns or Form 19s from a favorite railroad, he (for the most part the person is male, so I'll use that pronoun for brevity) is compelled to save for posterity.

The collector gathers objects he likes and has a sense of ownership over them. The goal is to have a complete a collection of such objects as he deems - green cast tall globe lanterns, advertising posters, etc.

Digitizing the accumulator's objects information would be of more value than that of the collector. The word used is ephemera. Scanning in a scrapbook of trolley articles & photos of a particular town would be of more historic interest as compared to taking an image of the horse car bells used in that town lined up on a shelf.

The point I'm trying to make is that from making historic information available for the future, assuming that the media format is stable over decades (remains to be seen), has value. The only almost insurmountable problem is having the time and will to do the transfer. Unfortunately, you find out about these treasure troves past the last minute.

Full set of Railway Age - invaluable for research - I've done that for papers in college since the library had them. However, most publications have or are being digitized and being made available.

For a collector, there is nothing like the sight of a brass Pullman lantern on the mantel. Different sort of jolly.

So to summarize, while the aspects of accumulation and collecting appear to be the same thing, the former when proper steps are taken will increase the the overall knowledge of the subject whilst the latter will increase the satisfaction of the owner and those that can admire those objects.

PS. It is amazing to see the scope of what the result of collecting/accumulating a life's worth was.

People who are now or have been at the point of passing on their property were from a unique era in the railroad industry. They have witnessed the transition from steam to diesel, the consolidation of railroad companies, had the foresight/desire/obsession to amass such items when they were available. I personally know of a certain Trainmaster in Grand Central Terminal who was tasked by Penn Central to "clean out the lockers and throw out the stuff" into his basement as it turned out. If he hadn't done so, the corporate seal of the NYNH&H (and a few others) would have been lost.

Two thoughts about the auction. First, on the OT baseball items. I am not a sports memorabilia expert but Walter made a big deal out of the annual Hall of Fame Game in Cooperstown. I was invited once and was there when George Brett was there. Walter had a lot of baseball people come to the mansion over the years where they mingled with shippers, politicians, etc. He also had a supply of Washington Senators caps on hand and would give them to visiting Congressmen ("everyone in the House dreams of becoming a Washington Senator!").

Second, there was a large amount of Delaware & Hudson dining car items in this auction. For years there were rumors that there was a lot of this stuff still in the possession of the D&H. I wonder if it came to Walter/NYS&W when they were the designated operator of the D&H in the late 1980's?