Discussion in 'Steam Traction' started by Azrall, Mar 27, 2018.
Loco has now been sold.
OK - now hoping for a lottery win on Wednesday!
Is 35k a realistic price for a regular 0-4-0 saddle tank needing work?
Gut reaction is no, that's not to say someone may be daft enough to take it on just for the Ivor name, cant see it myself.
I would say no. It's had an independent evaluation. But, the owner obviously wants to recoup the money he's made modifying it etc. There's a unique lubrication system, plus the bodywork, Ivor license etc.
In my eyes it's a different value. but im just the messenger!
Even with the licence, I would have said it is pie in the sky money being asked. Depending on actual condition, a £10-20K spread.
I'm mystified as to what a "unique lubrication system" is, but would also question whether it could ever add much value to a sale!
I did think £35k seemed a bit much, but I suppose given that it includes the licence to run the loco as Ivor (How long is that licence valid for?) that will jack the cost up a bit. How much will that licence actually contribute to the cost?
I was going to suggest that it may be making the loco unnecessarily expensive, but then a small loco like that might well be more attractive as a hire loco to other lines if it is marketable as Ivor, thus meaning the loco is more likely to be able to pay its way...
The number of times Middleton gets asked if it has any (small) locos available for hire, I doubt it would have any problem in being hired, even without its Ivor trappings. It isn't going to attract much of a premium in that guise, either.
The scramble for tank engines still ongoing? I thought the longer, heavier trains and greater patronage we're seeing now was kind of kiboshing that?
Bear in mind there are still a number of railways which are only a mile or two long and only have one or two coach trains. For lines like that, a little 4 wheeled saddle tank is perfectly capable, and as steaming fees and fuel consumption will be less even than something like an Austerity, for a small railway with very shallow pockets, they're a preferable option.
Exactly. Telford Steam Railway are currently advertising on this forum, asking if an industrial 0-4-0 is available for hire.
Didcot are hiring Baxter from the Bluebell.
NRM hiring in small locos to run brake van rides. Currently a P from the Bluebell, but could just as easily be a small industrial
Plenty of other small lines with no working steam locos, where hiring a small industrial could be a cheap and viable option to boost visitor numbers.
The demand is there.
Are there any thoughts on what the going rate for a day's steaming fees would be for small locomotives of this sort, please?
The S&CR were paying £250 a day for Ivor. We've been offered other locos for the same steaming fee.
I'm by no means an expert in Peckets but there two lubricators located underneath the boiler and in the chassis. One supplies steam oil to the cylinders (nothing out of the norm there. The other lubricates the axle boxes. (im not sure if that was a standard feature on them)
The Ivor license runs indefinitely as far as I am aware. However unless there is a resurgence in Ivor fans I don't think it's going to cause a huge stir. When we ran her as Ivor on NYD we had a big crowd, but that could have been co-incidental.
Loco is still for sale and viewable during the weekends. We have had the Loco independently valuated also, the asking price is a little high, but on a very very good day, it's not far off.
£250 is at the lower end for a small industrial hire but not a bargain. I don't know who your independent valuer is but I still maintain it is asking top whack and anyone who pays that must have good reason or more money than sense.
Valuer is well known in the Heritage rail movement, obviously I'm not going to out him on here in case he gets any backlash. But he has stated it's uniqueness could fetch £25k-30k on a good day with a standard peckett being no more than £20k.
At the end of the day, I'm just trying to help the owner move it on. I would say approach with some sensible offers.
Just wondering, is 1555 still up for sale or has it been sold already?
It is still for sale.
Hmm. First advertised in March, still for sale in July; that suggests to me that the owner needs to reconsider that asking price, Allan - though I'm not even attempting to shoot the messenger! Whatever the expert valuation, what it's worth is what somebody is able and willing to pay for it.
It might just mean there aren't many prospective purchasers. How many other locomotives in similar condition have been sold between March and July? I also suspect that anyone with the wherewithal to purchase a steam locomotive is also going to be well capable of making an offer lower than the asking price.
If there's no serious prospective purchaser about lowering the price won't help - until its low enough to be of interest to the scrap dealer.
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