The Pete Waterman LNWR Gauge One Collection is for sale

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oldrog
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The Pete Waterman LNWR Gauge One Collection is for sale

Post by oldrog » Fri Apr 03, 2015 8:39 pm

If you have not already viewed this collection of twenty-two models, all built by Geoff Holt, log on to http://www.dreweatts.com/cms/pages/lots/13830 and spend time admiring these masterpieces. It is worth downloading the PDF file.
Roger Stapleton

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Philip Millard
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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by Philip Millard » Sat Apr 04, 2015 8:13 am

Hmm. If I owned these I would not dream of selling them!
"A man would do nothing, if he waited until he could do it so well that no one at all would find fault with what he has done." - Cardinal Newman

Mike Williams
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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by Mike Williams » Mon Apr 06, 2015 7:26 pm

Surely that number of Gauge 1 models of LNWR engines will flood the market and not achieve the best results? It will be interesting to see what happens.

Mike

dal-t
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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by dal-t » Mon Apr 06, 2015 9:01 pm

Apparently Pete is selling the models to fund apprentices restoring locos for his 1:1 scale railway - just a pity that the example shown as next in line for the rescue treatment was (yet another!) Green With Rivets ...
David Littlewood-Tysoe
Never argue with stupid people, they will drag you down to their level then beat you with experience.
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Jol Wilkinson
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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by Jol Wilkinson » Wed Apr 08, 2015 7:44 am

The guide prices for the live steam locos seem quite high. Perhaps he is hoping they will appeal to the "investment" collector, who will consider the provenance more important than the model itself.

Whether that will apply to the LNWR Gauge 1 models remains to be seen. There probably isn't the same level of awareness of the Premier Line amongst the collectors that the GWR has. I would like to have one as a display item (Teutonic) but not at those prices.

I assume the Society's Museum and Relics committee will not be bidding for anything.

Jol

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Philip Millard
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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by Philip Millard » Wed Apr 08, 2015 2:55 pm

FWIIW I think £4000-6000 (+ wolfish buyer's premium) for one of these superb hand-crafted models is not dear, but stupidly cheap. I plan to attend the sale, and may even be tempted if (as Mike suggests) the bidding on the 22 lots is muted. Carpe diem - this opportunity will not pass by again, and I am reliably informed that you can't take it with you.
"A man would do nothing, if he waited until he could do it so well that no one at all would find fault with what he has done." - Cardinal Newman

Jol Wilkinson
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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by Jol Wilkinson » Thu Apr 09, 2015 9:43 am

Philip,

I formed the view that PW's (or the auction house's) view of guide prices was optimistic given what other models achieve on the open market.

In the BBC tv interview PW justified the price of an unpainted GWR loco to the reporter by saying it had taken the builder four years to complete. As we all know, the time/effort/cost put into making a model is often not reflected in it's market value.

Granted that Geoff Holt was a superb model maker and that the PW Collection provenance will demand a premium, but given the relative ignorance of the LNWR compared to the GWR, LNER, etc. I think that these models may not reach the guide prices.

If so, good luck with your trip to the auction. Interesting that the sale will be held at 6 p.m., possibly to attract the city gents with some spare cash to invest.

I've got a signed copy of PW's book which features many of the locos, so I'll have to make do with that.

Jol

oldrog
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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by oldrog » Thu Apr 09, 2015 5:20 pm

Hi Philip
If you secure one I hope you will bring it to the Modellers Workshop for us to admire. I look forward to hearing your 'tale from the sale'.
I suspect the guide price may be less than the original cost - how many of these would Geoff Holt have build in a year?
Roger

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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by David Bond » Thu Apr 09, 2015 7:55 pm

Best of luck Philip, I hope you will let us know how you get on?

If I owned those locos I would not sell them, but then he is doing it for a worthy cause

My claim to fame? PW used the porcelain next to me at Warley one year.........

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Philip Millard
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Re: The Pete Waterman LNWR Gauge One Collection is for sale

Post by Philip Millard » Fri Apr 10, 2015 12:59 pm

Personally I take leave to doubt PW's explanation. I find it odd that a chap said to be worth £45million is selling off the models he had built to his own commission over many years, even to fund another project.

The guide price on each lot is £4000-6000 regardless of the model. In other words, the auctioneers (who have no apparant expertise in model trains) do not have a clue what they will fetch. Of course, neither do I, but I agree that is less than PW would have paid for them One interested bidder means the lot is sold cheaply. Two interested bidders can push up the price to silly levels. But I am hoping that there is no-one who the money and the inclination to buy all 22 locos, so some at least may be bargains.

I understand that Jeremy Hoskins bought the namepate Sir William Stanier FRS for (I think) £50000, but you have to remember this is an auction and someone else wanted it £49000 much.
"A man would do nothing, if he waited until he could do it so well that no one at all would find fault with what he has done." - Cardinal Newman

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