So you want to know if a Brass Model Train will be a good investment.  The Wall Street Journal once said that brass trains are a better investment than the stock market!  Will they be the next 'big thing'?  Will we soon be seeing record breaking prices for brass model trains?  Hopefully this guide will help you understand brass models in HO, O, N, or any other scale.  First of all, as is true in any field, the most important thing is to educate yourself about brass trains.

Is It Really an Investment?

• Many will tell you that it is not wise to consider a brass model train to be an investment.  That is probably wise advice.  The best reason to collect brass model trains is because you love them, or because you enjoy operating them.  However I can tell you that many people have found the can be good investments!
• Virtually all brass model trains gain value over the years.  Also dealers tend to pay a much higher percentage for brass model trains than other items, such as plastic models. 
  
• Brass model trains can be sold off individually, or an entire collection can be sold.  This is not true of all collectibles, for example it can be almost impossible to sell large collections of run-of-the-mill baseball cards, or similar items.  But many dealers, and some collectors, are willing to buy entire brass model train collections.  This makes a collection much easier to dispose of if you hit hard times, or if an estate must be liquidated.  But often they can also be sold off individually on eBay or at train shows.
  
• Some brass model trains are very expensive, so I would indeed indeed consider them an investment.
• Brass trains could end up being extremely valuable in years to come.  They are handmade works of art, and many times when such items become noticed by the mainstream they become highly sought after!
  

Various Publications:

• Here are some good ways to help educate yourself about brass model trains
  
• The Art Of Brass - Lots of nice information and good Black & White Photos
• The Brown Book - In Particular the 3rd Edition by John Glabb - Out of Date, but lots of information, and if you read the preface there is some good advice and interesting information.
  
• Various Books and Catalogs - PFM 25 Years, PFM and other Importer Catalogs, The Brass Collector Magazines, Steve Reddings Guide to Santa Fe Brass, and the like can all help build your knowledge.  Most of these publications are out of print, so eBay is often the best place to find them. 
  
• The Brass Train Guide - OK, I am partial to this one since this is our new book!  However we feel it is the best source of knowledge since it is not only our thoughts, but some wonderful interviews from many of the importers and most educated folks in the industry.  Also the Price & Data Guide is a great way to know what was made, and to help give you an idea of current value.

• Various Dealers Websites - I cannot list them due to eBay policies, but many of the large dealers websites can help you get a good understanding for brass models, what sells, how much etc.  Just do a Google search for "Brass Trains"
  
• eBay - You must be cautious using eBay itself to learn, as there are so many variables, and it is not always an accurate barometer of true value of models.  However a LOT of models are moved through eBay and it is certainly a useful tool in determining value.

Follow Your Instincts

• It seems to me that whenever someone makes a good investment in collectibles they do it by following what they love.  This probably happens for a few reasons.  First of all, if you really enjoy something, then you are probably very knowledgeable about it.  Its really not work researching things we are interested in, its fun!  So for example if you like Streamlined Engines, you probably know about the prototype, what engines have been made through the years, and what the best version made is.  This is just one example of course.
• Buy the best.   If you really want a good investment, buy the best.  It seems to me that the very best models always continue to grow in value, even if it seems they are currently overpriced.  Some of the best W&R models seemed very pricey several years ago, but now some have nearly doubled in value.  Also oftentimes a dealer will actually pay a higher percentage for a really good model even if it is very expensive.  That helps make it a better investment.
• Ask around.  Here are some things to look for when investing in a brass model train.  Is it accurate?  Most brass model trains are very accurate, exact copies of the original prototype.  However some are better than others.  Find out how good the model you are interested in really is.  There are many experts in the field, most are willing to help out so get to know a few.  Is it the best version of the particular model made?  For example PFM made several runs of the AT&SF 4-6-4 Blue Goose, those are nice models, and they sell well.  However the Hallmark Super Crown Blue Goose is widely considered the best version, and it continues to rise in value through the years.  Is it factory painted?  Or if it is customer painted how good is the paint?  Professionally painted models seem to be more and more desirable.  Certain vintage models however may be best unpainted and unrestored.
• Condition matters.  Get a model in the best possible condition.  As brass trains continue to become more and more collectible, and if indeed one day they are viewed as fine art, then condition will matter greatly.  In virtually any other field an item in MINT condition is often worth many times more than one in good condition.  For example this Amazing Spider-man #1 sold on eBay for $10,000.00, however a truly mint edition could sell for many times that amount, and one that was only in good shape would most likely only sell for about $1500.00.   This is not so much true of brass trains at this point, but I am convinced it will matter greatly in the future.
  

Enjoy Your Hobby!

• To sum things up, a well researched purchase of a brass model train can be a good investment.  However the main goal is to enjoy your hobby.
  

• Make no mistake, brass model trains are NOT just toy trains.  However they can still bring out the kid in us, and that is a good thing!

For more on why I think brass model trains are destined to be extremely collectible and viewed as fine art, please check out our new book "The Brass Model Train Guide".
Brass Train Guide - At Dan's Train Depot

I hope you found some of this information interesting and useful.  I certainly have enjoyed, and continue to enjoy, learning all about brass model trains!

Dan Glasure