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 Post subject: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Wed Dec 06, 2023 12:22 pm 

Joined: Sun Aug 22, 2004 1:51 pm
Posts: 11436
Location: Somewhere east of Prescott, AZ along the old Santa Fe "Prescott & Eastern"
Our long-standing joke finally appears to have happened. Let's see if he follows through.

https://www.heritagerailway.co.uk/18219 ... -winnings/


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Wed Dec 06, 2023 1:30 pm 

Joined: Fri Dec 03, 2004 9:42 pm
Posts: 2872
Northwest Railway Museum filmed a lottery commercial with that exact theme! Well, almost, it was a diesel. But same concept.

https://www.behance.net/gallery/9292961 ... cale=en_US


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Wed Dec 06, 2023 1:58 pm 

Joined: Wed Sep 11, 2013 5:11 pm
Posts: 46
What's a surefire way to make a small fortune? Start with a large fortune, and buy a railroad.


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Wed Dec 06, 2023 10:58 pm 

Joined: Fri Apr 26, 2013 5:56 pm
Posts: 391
Location: Ontario, Canada.
Random Thoughts:
There was a popular song here in Canada in the '90s called "If I had a Million Dollars." It is still played on the radio. It is a humorous song and very catchy.
The problem now, unlike the '90s, is, one could piddle away a million bux very quickly. A new pickup can set you back over 100-grand. In this area, you would be lucky to buy a decent home for under a million bux.
The fellow in the link is dealing in Pounds Sterling, so that is a fair bit more.
There is a brilliant comedic film--Irish, I believe--called "Waking Ned Devine" about the perils of winning the lottery. Recommended viewing.
There are two railway groups in this area trying to raise funds right now. One is trying to get $150,000 to buy a steam loco; another is after $250,000 for a diesel passenger train project. Both good causes. A million bux, or a million pounds, would sure help them out.

https://waterloocentralrailway.com/equipment/cpr1238/

https://railfan.com/via-historical-asso ... -purchase/


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Thu Dec 07, 2023 8:46 am 

Joined: Sun Aug 22, 2004 7:19 am
Posts: 6388
Location: southeastern USA
There's probably an Audrey looking for a Sammy over in the UK. I wish him well.....

Check out the auction ad in the page linked. Lots of interesting live steam in smaller gauges.

_________________
“God, the beautiful racket of it all: the sighing and hissing, the rattle and clack of the cars over the rails. These were the sounds that made America the greatest country on earth." Jonathan Evison


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Thu Dec 07, 2023 8:46 am 

Joined: Fri Aug 27, 2004 4:02 pm
Posts: 1728
Location: Back in NE Ohio
Could get him into live steam in a significant way.


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Thu Dec 07, 2023 12:02 pm 

Joined: Fri Dec 03, 2004 9:42 pm
Posts: 2872
Seems like he has a few options by the time taxes get done with him.

1) Buy some really nice live steam stuff or even a small backyard railway.

2) Find a local club, donate a couple hundred K worth and be a hero. They'll probably let you drive the trains as much as you'd like.

3) Quickly figure out that buying a loco, finding a place to store it and fixing it up will cost WAY more than $1M these days, and after taxes you've only got $600K and didn't you want a nice house and maybe a new car and... Hey, that live steam G scale stuff would be cool in the garden...


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Thu Dec 07, 2023 1:46 pm 

Joined: Sun Sep 05, 2004 9:48 am
Posts: 1514
Location: Byers, Colorado
Most folks on this list know that you might own a live steamer, but a full size locomotive owns you. Here's a few suggestions...

1) Friends don't let friends buy steam locomotives.

2) Learn the business on somebody else's dime.

3) The two happiest days in a steam locomotive owner's life are the day he buys it, and the day he sells it.

4) Find a nice girl and settle down.

_________________
Ask not what your locomotive can do for you,
Ask what you can do for your locomotive,

Sammy King


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Thu Dec 07, 2023 2:07 pm 

Joined: Tue Aug 02, 2005 1:25 pm
Posts: 6394
QJdriver wrote:
Here's a few suggestions...

Friends don't let friends buy steam locomotives.



Oops! Sorry Sammy.


Les


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Thu Dec 07, 2023 2:12 pm 

Joined: Sun Sep 05, 2004 9:48 am
Posts: 1514
Location: Byers, Colorado
Les, If you remember the way my nerves were tied in knots that day, it's because I already knew what I was getting into. The thing is, Audrey was just too cute to cut up.... that was nine years and $210,000 ago, too. At least we're starting to see the finish line, and my nerves are starting to unwind.

_________________
Ask not what your locomotive can do for you,
Ask what you can do for your locomotive,

Sammy King


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 Post subject: Re: Man Wins Lottery, May Buy Steam Locomotive
PostPosted: Thu Dec 07, 2023 4:50 pm 

Joined: Fri Aug 27, 2004 4:02 pm
Posts: 1728
Location: Back in NE Ohio
Well, he won 1million Pounds Sterling, which today (12/7/23) is a Pound to $1.26 (boy is that worth a lot less than it used to be). Unlike the U. S., when someone wins a lottery in most other countries, they get to keep the entire amount of the jackpot, so he could have as much as $1,260,000 tax-free depending on the law in the UK.

I think being a big fish in a small pond is the best way to go, so either joining a small group of people owning a locomotive, or becoming a major donor to an established museum or tourist operation would be optimal (they would at least let you ride the cab just about whenever you wanted to). As Mr. Harbison said, give them enough, they'll probably let you operate an engine on a regular basis (if you're not an idiot about it, and go through the regular training program).

The thing about getting into live steam, at least the larger scales, like 1.5" and up, is that it's a lifestyle change. You need a place to keep it, and also maybe to run it if there is no club nearby; a rig to transport it; and money to keep it going. Suddenly, $1.26 mil. doesn't seem as big.


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