Auction Talk with Wayne: Auction Highlights October 2017

Welcome back…

The fall selling season is in full swing, and we have some great auctions to share with you in this edition. We strive to bring you a handful of unique auctions each month; auctions that are a bit offbeat and outside the superabundance of run-of-the-mill estate auctions. Noteworthy lots this month include a collection of Lionel trains assembled by the former CEO of Lionel; a State of Michigan unclaimed property auction, featuring the contents of bank safe-deposit boxes; a bankruptcy auction of the complete contents of a large bicycle shop; an extensive collection of peanut butter glasses and tumblers; and over seven hundred lots of entertainment memorabilia dedicated to the Horror, Science Fiction, and Fantasy genres. Let’s get started!

lionel train sign

The personal train collection of Lionel Train Company owner, Dick Kughn, will be up for auction on On October 15, 2017 at Pace & Hong Auctions. His collection became so large that his own private, 30,000 square-foot museum in Detroit couldn’t hold it all.

Premier Lionel Train Collection

In 1938, nine-year-old Dick Kughn received his first Lionel train set as a Christmas present. Fifty-one years later, he bought the Lionel Train Company. Over the years, he collected hundreds of thousands of items: trackage, replica rolling stock, and accessories. His collection became so large that his own private, 30,000 square-foot museum in Detroit couldn’t hold it all. Now, it’s all being offered for sale; many items are offered for the first time. The collection is offered in five auction sessions.

On October 15, 2017, Pace & Hong Auctions of Alpena, MI, will present part three of the auction series at their gallery located at 612 S. Ripley Blvd., Alpena, MI 49707. The live event begins at 4 PM EST; online bidding and payments are available through Invaluable.com.

For lot descriptions, photos, and registration details visit Invaluable at the above link, or contact the auctioneer at info@PaceHongAuctions.com, or their office at 989-727-0011 or Toll Free: 866-305-6799.

Unclaimed Contents of Bank Safe-Deposit Boxes

Commonplace in the auction world are self-storage auctions. When renters fail to pay storage fees and a facility is unable to collect, unit contents are auctioned to the highest bidder. The same procedure is followed by banks that have rented safe-deposit boxes (SDB). An SDB is, after all, just a storage unit. If a renter fails to pay rent, the contents are auctioned. Of course, the rules for such auctions are much more complicated than for self-storage units, and each state determines the procedures that must be followed.

Some safe-deposit boxes just contain “important papers,” but many contain jewelry, cash, or collectibles. Why would someone not pay a modest annual rent to keep these items safe? Often, it’s because they have forgotten about them and the bank cannot reach the owner. Common reasons include a box-linked checking account that has been closed, or an estate that is in probate, or a family that has moved out-of-state. Regardless of the reason, once the state’s dormancy period has expired, a box may be drilled open and the contents held for auction.

The Department of Treasury of the State of Michigan will hold such an auction for two days in October 2017. Lots will include diamond & gold jewelry, sports cards, gold coins, coin collections, currency, and other items. The event will be executed by Gary M. Berry Auctioneers at 9 AM on Saturday and Sunday, October 21 and 22, at the Lansing Center, 333 E. Michigan Ave., Lansing, MI 48933. Lots may be previewed on Friday, October 20 from 3 PM to 8 PM, and at 8 AM on the day of the auction. For registration, bidding, and payment information, contact the auctioneer or call 248-299-5959.

Bankruptcy Auction of Large Bicycle Retail Store and Repair Shop    

Bicyclists (and parents looking for a “special buy” for Christmas) will be pleased to learn about the liquidation of Bicycle Pro, LLC on Saturday, October 28, 2017 at 10 AM.

The “New Economy” has been hard on small businesses. As specialty shops are absorbed by mega-retailers, local shops are declaring bankruptcy in large numbers. As sad as that is for small businesses and their families, such closings can be a boon to both consumers and competitors. Bicyclists (and parents looking for a “special buy” for Christmas) will be pleased to learn about the liquidation of Bicycle Pro, LLC on Saturday, October 28, 2017 at 10 AM. The auction will be held on the store’s premises at 250 Route 130, Bordentown, NJ 08505. Lots to be offered include seventy new 2017 and 2018 model bicycles in all styles: mountain bikes, speed bikes, cruisers, and tricycles, featuring brands such as Giant, Red Line, Sun, LIV, Electra, Transend Ex, Strider, Momentum, and others.  To be included are a large quantity of accessories, clothing, and shoes, as well as the contents of the repair shop, including tools, equipment, parts, and supplies. The retail fixtures, counters, and cabinets will be sold also.

Inspection times for the auction are October 27 from 11 AM until 3 PM, and October 28 From 9 AM until 10 AM. The auction will be presented by The Auctioneers Group of Bordentown, NJ on behalf of Bunce D. Atkinson, Trustee. For more information, visit their website, or call Tony Natoli (609) 693-6899 or Peter Costanzo (732) 776-7222.

Boscul Peanut Butter Glasses and Tumblers

On Saturday, November 04 @ 8:00 AM at the Fremont Fire Co Social Hall, 299 Mill Race Rd, Mt Pleasant Mills, Snyder Co. PA, auctioneer Lori Hess Lauver will offer a large selection of Boscul glasses and Winross trucks.

On Saturday, November 04, 2017, auctioneer Lori Hess Lauver will offer a large selection of Boscul glasses. The glasses include rarities such as Orchid, birds, dogs, fruits, Christmas, Davy Crockett, Sleeping Beauty, Wizard of Oz, alphabet, songs, nursery rhymes and others.

The glasses include rarities such as Orchid, birds, dogs, fruits, Christmas, Davy Crockett, Sleeping Beauty, Wizard of Oz, alphabet, songs, nursery rhymes and others. They will be sold in alphabetic order and referenced to the Grayson-Carpenter Peanut Butter Glass Book. Be sure to bring your copy of the book; it can be found here

The auction will begin with an offering of several hundred Kinross Trucks to include local advertising, specialty and anniversary collections.  For information about payment, registration, and bidding, visit the Auction Zip listing  or call the auctioneer at 570-966-2512.  

That’s all for now…

There are some great items listed above, and all can be accessed from the convenience of your home. Don’t miss out! Check out the listings and find that rare item you’ve been looking for! Until next month, bid often!


Wayne Jordan is a Virginia-licensed auctioneer, Certified Personal Property Appraiser and Accredited Business Broker. He has held the professional designations of Certified Estate Specialist; Accredited Auctioneer of Real Estate; Certified Auction Specialist, Residential Real Estate and Accredited Business Broker. He also has held state licenses in Real Estate and Insurance. Wayne is a regular columnist for Antique Trader Magazine, a WorthPoint Worthologist (appraiser) and the author of two books. For more info, check out Wayne’s website at resaleretailing.com or visitWayne’s blog.

WorthPoint—Discover Your Hidden Wealth

(Visited 143 times, 1 visits today)