Prewar Lionel O Gauge No. 262 2-4-2 steam locomotive and 262T tender

The property in the sale will be offered for sale by Elliott Auctions LLC (Auctioneer) on behalf of the owners of the property, referred to as the seller, and will be governed by the terms and conditions set forth herein (the Agreement). Auctioneer is the agent of the seller.The property in the sale will be offered for sale by Elliott Auctions LLC (Auctioneer) on behalf of the owners of the property, referred to as the seller, and will be governed by the terms and conditions set forth herein (the Agreement). Auctioneer is the agent of the seller.Bidders Registration. All persons who wish to bid in the auction must register and obtain a unique bidder number. To register, you must provide all the registration information requested, sign the Agreement, and submit the form to the Auctioneer. All bidders must be 18 years of age or older and completely provide the information requested. Auctioneer reserves the right to refuse to register or permit any person to bid at its sole discretion. Bidder may register for the auction by phone, email, or internet. In connection with such registration, Bidder will be required to provide a credit card number (Visa, Master Card, American Express, or Discover) for verification of an intent to bid. Please follow the instructions carefully to make sure that the registration process is complete and accepted. Invoices and correspondence relating to purchases will be sent in according to the information on the bidder’s registration.Registration Confirmation. Bidder will be e-mailed registration approval upon successful completion of the registration process. Registration for internet bidding closes twenty-four (24) hours prior to the auction. Bidder should register as early as possible to obtain information about the property and increase the likelihood of being notified of any pertinent changes that take place prior to the auction. The bid number, authorization, and login information given to Bidder upon successfully registering to bid shall only be used by Bidder during the auction to bid on the property. The registration is not transferable or assignable. No one else may register for Bidder or participate on Bidders behalf.Successful bidders must pay in full within ten (10) days of sale and items must be picked up or shipped within fourteen (14) days of sale and items are not available for pickup until invoiced.Payment:  Payment in full (including the buyer’s premium when applicable) must be paid in the form of cash, wire transfer, checks, money order, all major credit cards (if you have a question about whether a credit card is accepted please call Auctioneer before bidding), prior to the removal/delivery of any property purchased. Checks can take up to fourteen (14) days to clear. Auctioneer reserves the rights to refuse credit card payments on any lot. Bidder shall pay the purchase price, the buyer’s premium, shipping and handling charges (if any), plus any and all applicable taxes, currently 7% if bidding from inside the state of Indiana, unless such taxes are exempted by law (proof of exemption must be provided). Out of state buyers having items shipped to them shall currently NOT pay any taxes. Bidder must make payment within three (3) days after notification of the sale or the credit card which was used to register will be charged to fulfill bidders’ responsibility. Failure to fulfill Bidders payment obligations will affect future bidding privileges.All items sold to the highest bidder, every lot starts at $1. Online bidders shall pay an 18% buyers premium with a 3% discount for cash, checks, money orders, wire transfers or other payment not needing credit processing, all online Indiana bidders shall pay 7% IN state sales tax unless a tax exemption form (ST-105) can be provided. We do have the ability to accept ACH payments as well with no fees for those but they must be done over the phone. We ask that checks and money orders etc be mailed no less than 3 days after the auction is complete (Tuesday following the auction). Any transactions of more than $10,000 MUST BE PAID BY WIRE TRANSFER from either inside the US or outside of the US. International.  You will receive an invoice directly from Elliott Auctions LLC.Stop Payment/Insufficient Funds. Upon making payment for a lot(s), no stop payment of funds will be honored. Any stop payment order of a check or giving a check which is returned marked insufficient funds, shall be deemed by the parties to be prima facie evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud.Acceptance of Terms. A bid placed by any person shall be conclusive proof that he or she acquainted himself or herself with the terms and conditions of sale and agreed to be bound by such terms and conditions prior to placing any bid.Representations and Warranties. All representations and/or warranties made, if any, are between Bidder and Seller. Auctioneer shall not be held responsible for the correctness of any representations and/or warranties of any kind with respect to the property. Auctioneer shall not be held responsible for any representations and/or genuineness of description of any property. UNLESS OTHERWISE EXPRESSLY NOTED BY AUCTIONEER, ALL SALES ARE FINAL AND ALL PROPERTY IS SOLD AS IS, WHERE IS, AND WITH ALL FAULTS. THERE ARE NO EXPRESS OF IMPLIED WARRANTIES (INCLUDING THE WARRANTY OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE) ON THE LOT OR LOTS. ANY AND ALL WARRANTIES (UNLESS EXPRESSLY NOTED OTHERWISE) ARE DISCLAIMED AND WAIVED BY BIDDER.Sales Final and Inspection of Lots. Bidder acknowledges that Bidder has been provided the opportunity to inspect (including reviewing pictures and asking questions about) the property before purchasing same. Bidder has or has not inspected the property at Bidder's sole discretion. Bidder is solely responsible for determining the condition of any property.Reserve Auctions. Unless explicitly stated otherwise by Auctioneer, each lot is being sold with reserve as a reserve auction. This paragraph is applicable to all reserve auctions. Auctioneer and seller reserve the right to withdraw any property before and during the sale of such property. The seller reserves the right to reject any and all bids for any reason. The reserve price may not be disclosed. All bids must be raised in reasonable increments and Auctioneer, at its sole and complete discretion, may reject a nominal bid advance. Auctioneer reserves the right to place a bid on any lot on Auctioneers own behalf.Without Reserve Auctions. This paragraph only applies to lots sold without reserve, otherwise known as an absolute auction. Auctioneer and the seller reserve the right to and may withdraw any property or cancel the sale at any time prior to calling for bids at the beginning of the auction. After Auctioneer has started calling for bids, the property may be withdrawn if there are no bids within a reasonable period of time. Once a bid has been made for the property, it may not be withdrawn.Disputes between Bidders. In case of any dispute between bidders, Auctioneer, at his or her sole and complete discretion, may reopen the bidding pursuant to specific terms determined by Auctioneer between the two highest bidders only, until the property is sold. If a dispute arises after the sale of any lot, the Auctioneer's records shall be deemed conclusive in all respects.Bidding. It is the responsibility of the bidder to make sure that Auctioneer is aware of his or her intent to place a bid. AUCTIONEER DISCLAIMS ANY LIABILITY FOR DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, OR INCIDENTAL, RESULTING FROM BIDS NOT SPOTTED, RECEIVED, EXECUTED, OR ACCEPTED. BIDDER ACKNOWLEDGES THAT AUCTIONEER DOES NOT HAVE ANY RESPONSIBILITY OR LIABILITY FOR THE WEBSITE(S) USED FOR INTERNET BIDDING. BIDDER ACKNOWLEDGES THAT THE AUCTIONEER MAY NOT HAVE ANY CONTROL OVER THE WEBSITE(S) AND CANNOT GUARANTEE ITS OPERATION OR PERFORMANCE. THERE ARE OCCASIONAL INTERRUPTIONS AND DELAYS RELATING TO THE USE OF THE INTERNET AND THE WEBSITE. FURTHERMORE, AUCTIONEER SHALL NOT BE HELD LIABLE (FOR LOST PROFITS OR SPECIAL DAMAGES) OR RESPONSIBLE FOR THE FUNCTION OF THE WEBSITE OR ITS INABILITY TO FUNCTION. BIDDER ACKNOWLEDGES THAT HARDWARE MALFUNCTIONS, SOFTWARE MALFUNCTIONS, VIRUSES, AND SIMILAR ISSUES DO OCCUR AND ARE BEYOND THE KNOWLEDGE, SCOPE, AND CONTROL OF AUCTIONEER. USE OF THE INTERNET BIDDING OPTION THROUGH ANY WEBSITE IS AT YOUR OWN RISK. TO ENSURE PROPER BIDDING, BIDDER SHOULD BE CAREFUL AND CONSIDER ATTENDING THE LIVE AUCTION. AUCTIONEER DOES NOT GUARANTEE ITS WEB SITES USE OR FUNCTION. Bidders should also be careful to bid on the correct lot and ensure that Bidders bid is for the amount intended. Auctioneer is not responsible for errors in bidding.Acceptance of Bids. The Auctioneer may disqualify or refuse any bid believed to be fraudulent, illegitimate, not in good faith, made by someone who is not competent, or made in violation of this Agreement or any applicable law.Transfer of Title. When Auctioneer notifies Bidder that a specific lot is "SOLD" or identifies a winning bidder, title for that lot shall immediately pass to the successful bidder, who then and there assumes the full risk and responsibility for the property. All property shall be removed from the sale premises by the Bidder at Bidders own risk and expense, or shipping arrangements made, within the time period specified by Auctioneer, except as provided for herein.Jurisdiction. The website is administered by Auctioneer from its offices in the United States of America. Individuals must reside within the United States of America to register to bid online. Auctioneer will not accept bids from individuals who reside outside of the United State of America and its territories. If you access the website from a location outside of the United States of America and its territories, Bidder consents to exclusive and continuing jurisdiction in the United States of America and agrees to be bound by and comply with all applicable laws. Auctioneer reserves the right to deny any person for any reason permission or access to bid online.Falling Gavel. During the sale of each lot or in the event that a bid is made while the gavel is falling, Auctioneer may reopen the bidding at his or her sole and complete discretion.Notification. The successful Bidder will be notified by telephone, internet notice, and/or email within two (2) business days after the auction closes.Limitation of Liability. AUCTIONEER IS NOT RESPONSIBLE FOR ANY LOST, STOLEN, OR DAMAGED PROPERTY.Breach of Contract. If this Agreement, or any terms and conditions announced by Auctioneer, are not complied with, in addition to other remedies available to the seller by law, including without limitation, the right to hold the Bidder liable for the bid price, Auctioneer and seller may: (1) publicly or privately resell the property, with the non-complying Bidder being held liable for the payment of any deficiency purchase price, plus all costs incurred; and/or (2) cancel the sale and retain as liquidated damages all payments made by the non-complying Bidder. Auctioneer's commissions, all incidental damages, expenses, court costs, costs of collection, including attorneys' fees, will be charged to and be the responsibility of the non-complying Bidder.Memorandum of Sale. Bidder authorizes Auctioneer to execute any memorandum of sale on behalf of and in the name of Bidder, or in Auctioneer's own name, in connection with the purchase of any lot, in accordance with Bidder's bid.Auctioneer Liability. Auctioneer acts solely as an agent for seller and is not a party to any contract for the sale of any property offered by the seller for sale and/or sold at this auction. IN NO EVENT SHALL AUCTIONEER BE LIABLE TO BIDDER FOR ANY INDIRECT, SPECIAL, OR CONSEQUENTIAL DAMAGES OR LOST PROFITS ARISING OUT OF OR RELATED TO THIS AUCTION OR THE PERFORMANCE OR BREACH THEREOF. AUCTIONEER’S LIABILITY TO A BIDDER SHALL IN NO EVENT EXCEED THE TOTAL OF THE PURCHASE PRICE, BUYER'S PREMIUM, AND TAXES PAID BY BIDDER TO AUCTIONEER, REGARDLESS OF WHETHER BIDDER'S CLAIM IS BASED ON CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE.Sale of Lots. All sales are to be per lot, unless otherwise mentioned by the Auctioneer. Auctioneer reserves the right to include in the auction any lot and the right to withdrawal any lot prior to calling for bids at the beginning of the auction. Auctioneer may combine, subdivide, regroup or reorganize any lots.Recording Devices. No photographs, tape recordings and/or video recordings of any type of the live auction are permitted without the express written prior approval of Auctioneer.Severability. If any provision of this Agreement is declared or determined to be null, void, inoperative, illegal or invalid for any reason, the validity of the remaining parts, terms or provisions will not be affected thereby and they will retain their full force and affect, and said null, void, inoperative, illegal or invalid part, term or provision will not be deemed to be part of this Agreement.Interpretation. Each party to this Agreement acknowledges that it has read, or has had the opportunity to read, the terms provided herein. The parties agree that this Agreement reflects the terms as agreed to by the parties hereto. In the event a term or terms is considered ambiguous, neither party hereto, nor their respective counsel, will be considered the draftsperson of this Agreement for the purpose of causing the terms of this Agreement to be construed against a party hereto.Applicable Law. The parties hereto acknowledge and agree that this Agreement is made and entered into in the State of Indiana, and will in all respects be interpreted, enforced and governed under the internal laws (and not the conflicts of laws) of the State of Indiana. In the event that the parties hereto, or any one of them, litigate any actual or potential breach of this Agreement, the parties hereto stipulate and agree that the exclusive and continuing venue for any such action will be in Warren County, Indiana, or the United States District Court, Northern District of Indiana, , Lafayette Division.Rights not Transferable. All rights granted herein are personal and exclusive to the registered bidder and may not be assigned or transferred to another person or entity, by operation of law or otherwise. Any attempt to assign or transfer any such rights shall be void and unenforceable. No third party may rely on any benefit or right conferred herein or granted to any bidder.Partial Payment. If in the event that the Bidder pays only a portion of the purchase price for any or all lots purchased, Auctioneer shall apply the payment received to such lot or lots as Auctioneer, in its sole discretion, deems appropriate.Shipping will be done in house by professionals with 20+ years of experience. We use brand new boxes, foam wrap, bubble wrap, packing peanuts and other materials that are necessary in getting your items to you in the same condition that they were presented in the photos. We pack as quickly as possible, but some items require more care than others. We use a web-based shipping solution called Shipping Saint that allows us to offer commercial shipping rates while at the same time keeping track of the time that is spent and the rest of the materials so that we can accurately charge you. From this point forward, you will receive an invoice immediately following the sale with the hammer price and 15% buyer’s premium. Once payment has been received, we will begin packing your order and a separate invoice will come for the shipping charges. Once that has been paid and we create a label, you will be notified via email and text about your tracking number and when you might expect to receive your new items.READ:Any bidder refusing to pay the shipping and handling costs after the items have been paid for shall therefore surrender title to the items after 14 days have passed from the first invoice for shipping. Chargebacks on credit cards due to refusal to pay shipping will be disputed in a court of law in Warren County, IN at the cost of the bidder.We do not test trains or toys for operability in most cases. Sometime, when we have extra time to do so we will test them but even if we have found it to be in working order, we do not guarantee that it will run after being shipped. These items are many times 40 to 100+ years old and will need maintenance or lubrication before attempting to operate them. The items are ALL graded on appearances ONLY, never on operability.All items have been graded as per TCA standards that are as follows:C1 Junk-parts value onlyC2 Restoration requiredC3 Poor- requires major body repair: heavily scratched, major rust, missing parts, major restoration candidateC4 Fair-scratched: moderate, paint loss, dented, missing parts, surface rust, evidence of heavy useC5 Good- sign of play wear: with scratches and minor paint loss, small dents, minor surface rust, evidence of heavy useC6 Very good: minor scratches and paint nicks, minor spots of surface rust, free of dents, may have minor parts replacedC7 Excellent-all original: minute scratches and paint nicks, no rust, no missing parts, no distortion of component partsC8 Like New-complete all original: No rust, no missing parts, may show effects of being on display and/or age, may have been runC9 Factory New-brand new: all original, unused, may evidence factory rubs and the slightest evidence of handling, shipping and having been test run at the factoryC10 Mint-brand new: all original, unused and unblemished.Items are inspected and or graded by a professional in the toy industry with nearly 40 years of experience. We do occasionally miss a minor detail, we are human, but we do our best to grade by the highest standards, not with wishful thinking but with reality. We will accept return for items grossly mis-advertised but everything aside, the items are sold as is and any inspection or final grade or condition shall be determined by the buyer. Inspection by buyers is available but generally not necessary as we do our best to point out any issues but as previously stated, we are not perfect and can be missing a small detail occasionally.READ:Items must be paid for within 10 days of sale and picked up or shipped within 14 days of sale, items not shipped or picked up within 14 days of sale are considered abandoned property and all rights of ownership are forfeited.  These items will be resold or disposed of.  If you have a specific question about any piece being auctioned and need more information than is listed in the catalog, please call-in advance of the auction and ask for assistance, 765-762-9300.LIMITATION OF LIABILITY. EXCEPT AS EXPRESSLY PROVIDED ABOVE, ALL PROPERTY IS SOLD AS IS. NEITHER Elliott Auctions LLC NOR THE CONSIGNOR MAKE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE TITLE, MERCHANTABILITY, FITNESS OR CONDITION OF THE PROPERTY OR AS TO THE CORRECTNESS OF DESCRIPTION, GENUINENESS OF ANY ITEM. THE PURCHASER EXPRESSLY ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL Elliott Auctions LLC BE LIABLE FOR ANY DAMAGES INCLUDING WITHOUT LIMITATION ANY COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL DAMAGES.Gregory Elliott IN AU12100046 TCA 12-67544www.elliottauctions.cominfo@elliottauctions.com765-762-9300

Pickups at our facility are possible and encouraged.  Items must be paid for within 10 days  and picked up within 14 days of sale or your items will be considered abandoned property and you will forfeit all rights of ownership.  You can pickup your items at our facility once you have made contact with us and have an appointment. We are very busy, but very flexible with pickups.  Auctions end on Saturdays but please call us on the Tuesday morning after the auction and we should be ready to schedule a pickup. Most times, it can happen on Tuesday.  Our office number is 765-762-9300.  Make sure you get your directions to our location from us or our website. Our physical address is 1581 N. Main St., Kramer, IN 47918 (our mailing address is Attica, but for pickup use Kramer).  If you have any problems making a pickup, we offer in-house shipping that is very reasonably priced.  You can pay by cash, check, money order or credit card here at our facility when you arrive to pickup your items.