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Ultimately something is worth what someone will pay for it. The situation right now is that there isn't a huge choice of new n gauge locomotives available and when new models are released the initial stock often sells out quickly (as with some of the new Class 08 models). With many new modellers looking to build their stock, often with a specific region or era in mind, they are looking out for these models becoming available on Ebay. It's quite realistic to see a good condition loco that's up to 5 years old sell for an amount similar to it's most recent new price or perhaps even a little more. These items have become collectables and can command high prices for the most sought after items. A collectors market is very different from a second hand market.

For example, I model the gwr region and anything that comes up for sale from that region always sells high due to huge demand. Last year I particularly was looking for a n gauge Farish First Great Western livery Class 150 dmu, or two of them to be precise. I ended up paying £190 for a dcc chipped version and £170 for an unchipped model which I know was way over what they should be worth but if I hadn't snapped them up I'd still be looking for them now so I am happy enough with that. There's a loco on Ebay right now that I'm watching that ends in a couple of days. If I have to, I'll pay over what the new price was, because I want it and I can afford it. Is that wrong? On the other hand, I bought a rake of four GF coaches in good condition over the weekend for £75 which I was quite pleased with as others that have sold singularly recently have gone for £23/£24 each.
 

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Well, I'm pleased to report that it is still possible to pick up N gauge bargains on Ebay. Today I have just won an auction for:
Graham Farish 372-030 GWR Castle Class 4-6-0 Earl of Dunraven
2017 Tooling version in perfect condition
with Next18 DCC chip fitted
for the princely sum of £77.00

I reckon I've got a bargain there. In fact I'd have paid significantly more for it if I had to.

I guess the fact that it was a weekday daytime ending auction, rather than a weekend helped. Also the main photo was just the end label on the GF box rather than a pic of the loco so might have been easily missed by some. Anyway, whatever the reason I'm one happy N gauge modeller right now.
 
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