CEO Used Company Funds To Buy $1M Worth of Trains
According to an article in the Pittsburgh Tribune-Review, the CEO of LeNature’s, a company that bottled water, tea and fruit drinks, amassed a huge collection of modern Lionel trains at the company’s expense. CEO Gregory Podlucky wasn’t so lucky because he ran LeNature’s into bankruptcy. His huge collection, which is estimated to fill two tractor trailers, will be auctioned off as one lot for the US Bankruptcy Court in Pittsburgh, PA on Aug. 21, 2007. One bidder, Scott Griggs of Trainz.com, has agreed to buy the collection for $575,000 if no one bids higher. Public bidding for the collection starts at $590,000. In the article, Mr. Griggs stated he would start selling the collection on Trainz.com in September if his bid is successful. The article also states that AmbroseBauer Trains considered making a bid but decided not to because they believe the collection to be worth only $375,000. View the Pittsburgh Tribune-Review article here. View the 85 page list of items in the collection here (5MB file size).
Auction Alert: Mainstream Toy Auction
Stout Auctions is holding a Mainstream Toy Auction at their Williamsport, Indiana gallery on July 7th. 500 lots of toy trains will be auctioned off. You can participate in the auction via eBay Live. View all the lots here.
Auction Alert: New England Toy Train Exchange
On Friday, June 29th and Saturday, June 30th New England Toy Train Exchange will auction off 950 lots of trains, toys and diecast. You can participate in the auction through eBay Live. For more information about the auction click here. View all 950 lots here.
Auction Alert: High Quality Toy Trains
On Sunday, June 24th, Ambrose/Bauer Trains will hold a "High Quality Toy Trains" auction with over 190 lots. Auction begins at 7:00 pm EDT. You can participate in the auction via eBay Live. View all the lots here.
Auction Alert: Lionel Pre/Post War & Standard Gauge, MTH, Marx, Williams and More
Stout Auctions will be holding its "Pennsylvania Toy Auction" on Saturday, June 16th at 4:00 pm EDT. The auction will be held at Pennsylvania Stout Auctions gallery located at 2884 Mercer-West Middlesex Road, West Middlesex, PA 16159. You can also participate over the Internet via eBay Live Auctions. Over 550 lots will be offered. View all the lots here.
Auction Alert: Lionel Post War, Flyer, MTH
Ready Auction House has over 200 lots of Lionel post war, American Flyer and MTH trains and accessories starting today at 2:45 pm EDT. View all the lots here.