The CERA's Climax, which has been available for awhile, is now on eBay at a $200K starting bid.

http://cgi.ebay.com/aw-cgi/eBayISAPI.dl ... 1179991747

I gotta ask... the website says that the engine is worth $500,000.

Even if it were up to date and operational (hasn't run on 10 years), is ANY steamer really worth $500K, or does everyone have the same high hopes of Tom Payne and others? (Didn't he pay $250K for #2100 in operational shape?)

I am all for maximizing return, but dingity dang darn doo, it sounds like our humble little community has way over-valued its assets. Is everyone paying insurance based on estimates like that?

Wow!

Rob Davis

inlinebob@aol.com

> I gotta ask... the website says that the
> engine is worth $500,000.

> Even if it were up to date and operational
> (hasn't run on 10 years), is ANY steamer
> really worth $500K, or does everyone have
> the same high hopes of Tom Payne and others?
> (Didn't he pay $250K for #2100 in
> operational shape?)

I'm afraid the answer to what an engine is worth is "whatever the market will bear". A group can easily sink $500,000 into the rebuild of an engine yet find that the fair market price is much lower. Are we over insuring our engines? In my opinion, no, it will cost us that much to to rebuild them.
Tom

ironbartom@aol.com

The cost of rebuilding a steam locomotive can't be recovered through sale in the marketplace (maybe very unusual exceptions) and must be capitalized through earned operating ton / passenger miles.

Values are extremely subjective and based somewhat on emotional response. I frequently wonder what planet a certain equipment sales newsletter comes from. No doube part of a universe with a much weaker dollar than ours.

Bear in mind that the Climax in question will require substantial survey and documentary work just for the FRA Form 4 so is it truly in "running condition?" Given the state of the boiler of the Heisler that suffered with the same acid water in that WV coal valley at NHVRR, just how likely is it that the Climax won't need some heavy boiler work too?

If I were contemplating evaluating this locomotive, thee are some questions I would want answered.

Dave

irondave@bellsouth.net

Thats a big AMEN. A steam locomotive is worth what it can realistically earn between tube jobs(15 years), and/or what was invested to get it going. Period. Any thing else is an artificial inflation.

The Climax simply hasn't got that kind of earning potential. Those boys must be smoking something very in violation of rule G if they think that engine is worth a half mil..

Face it, if they aren't CERTIFIED operable, they are worth little more than what they weigh.

Hey guys, keep in mind that this is a Climax, and it has been operated very little since its restoration. To find any locomotive let alone a Climax with all its hardware, appliances and such intact is worth a fair sum.

In talking with CERA president, this lokie was stored properly and housed INSIDE a climate controlled room. Someone had better hurry up and get this one soon. They will take the asking bid on E-bay.

nuff said 4 now

JB


E-BAY Listing

To find any
> locomotive let alone a Climax with all its
> hardware, appliances and such intact is
> worth a fair sum.

>

> nuff said 4 now

> JB

Why is it worth a fair sum, in strictly economic terms? To Whom? Yes, it would be priceless to a museum or operating RR that is charged to interpret geared loco history, but the greed of the seller precludes those who really can use the engine to greatest benefit,to themselves and the public as well, from doing so.