Lionel Trains - The Richard P. Kughn Collection - Part 1 of 5
Previous Page Listing ID#: 49017

Auction Location

Alpena, MI 49707
Auction Dates and TimesSALE IS COMPLETED
Sunday Sep 10, 2017 Completed
Auction Type
 Live Auction with Online Bidding  VIEW ONLINE CATALOG
Company Information
Pace & Hong Auctions

Contact: William Pace
Phone: 989-727-0011
Email: bill@pacehongauctions.com
Website: www.pacehongauctions.com

GoToAuction.com ID#: 2035
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Listing Terms and Conditions
1. All property is SOLD AS IS, and ALL SALES ARE FINAL. In the rare event Pace & Hong accepts a return a minimum re-stocking and return fee of 35% of the purchase price and buyers' premium will be charged; additionally the buyer must pay for return shipping. 2. By bidding on any item, the Bidder shows acceptance of these Terms & Conditions and acknowledges that all inspection, discovery and due diligence for any lots bid upon have been completed to his/her satisfaction prior to bidding. 3. Items are open to thorough public inspection. It is the Bidder's responsibility to determine condition, age, genuineness, value or any other determinative factor. Pace & Hong Auctions may attempt to describe the merchandise in advertising, on the Internet and at the auction but makes no representations, certifications or guarantees. 4. In no event shall Pace & Hong Auctions be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. 5. Bidders who bid from off-site and are not present at the live auction or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the Bidder's responsibility to determine condition, age, genuineness, value or any other determinative factor. 6. The auctioneer has the sole discretion to advance the bidding and may reject a nominal advance, should it in his estimation prove injurious to the auction. 7. The auctioneer shall be the final judge in all bidding disputes and shall name a bidder as the winner. 8. Pace & Hong Auctions shall not be held responsible for any "missed" bids or bids unseen or unheard by the auctioneer. 9. If a High Bid is simultaneously submitted by more than one bidder, whether online, from the live audience or absentee, the auctioneer will determine the winning bid. 10. Pace & Hong Auctions shall not be held responsible for the consequences of computer or Internet failure. 11. Pace & Hong Auctions reserves the right to withdraw or re-catalog items in this auction. 12. Pace & Hong Auctions reserves the right to refuse service or decline registration to any person.
Listing Information

Pace & Hong Auctions is pleased to announce the auction sale for a one-of-a-kind vintage Lionel Train collection, a lifetime gathering of model trains, memorabilia and rare collectible items from Richard P. Kughn, well-known Detroit businessman, entrepreneur, philanthropist, civic leader and former Owner, Chairman & CEO of Lionel Trains, Inc. Richard Kughn’s business pursuits range from commercial real estate development to manufacturing to producing movies. In addition to ownership positions in the Los Angeles Beverly Center shopping mall, Upper Deck Trading Cards and Lionel Trains, his personal interests included the acquisition of over 250 classic and rare cars. After acquiring Lionel Trains, Kughn returned its manufacturing operations from Mexico to the United States where he established the company in the Detroit area. He later sold Lionel to another pair of train lovers, oil magnate Marvin Davis and guitarist/songwriter Neil Young. Owning Lionel allowed Dick to augment his personal train collection with a variety of vintage and rare items from Lionel’s manufacturing inventory. Dick expanded his collection with his purchase of Madison Hardware in lower Manhattan, a renowned model train store. Over time, portions of Kughn’s collection have been sold and now his remaining personal acquisitions will be brought to the market by Pace & Hong Auctions.
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Lionel Trains - The Richard P. Kughn Collection - Part 1 of 5

Pace & Hong Auctions

Pace & Hong Auctions

Contact: William Pace
Phone: 989-727-0011
Sale Location
612 S. Ripley Blvd.
Alpena, MI 49707
Sale Dates and Times
Sunday Sep 10, 2017 Completed
Sale Terms and Conditions
1. All property is SOLD AS IS, and ALL SALES ARE FINAL. In the rare event Pace & Hong accepts a return a minimum re-stocking and return fee of 35% of the purchase price and buyers' premium will be charged; additionally the buyer must pay for return shipping. 2. By bidding on any item, the Bidder shows acceptance of these Terms & Conditions and acknowledges that all inspection, discovery and due diligence for any lots bid upon have been completed to his/her satisfaction prior to bidding. 3. Items are open to thorough public inspection. It is the Bidder's responsibility to determine condition, age, genuineness, value or any other determinative factor. Pace & Hong Auctions may attempt to describe the merchandise in advertising, on the Internet and at the auction but makes no representations, certifications or guarantees. 4. In no event shall Pace & Hong Auctions be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. 5. Bidders who bid from off-site and are not present at the live auction or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the Bidder's responsibility to determine condition, age, genuineness, value or any other determinative factor. 6. The auctioneer has the sole discretion to advance the bidding and may reject a nominal advance, should it in his estimation prove injurious to the auction. 7. The auctioneer shall be the final judge in all bidding disputes and shall name a bidder as the winner. 8. Pace & Hong Auctions shall not be held responsible for any "missed" bids or bids unseen or unheard by the auctioneer. 9. If a High Bid is simultaneously submitted by more than one bidder, whether online, from the live audience or absentee, the auctioneer will determine the winning bid. 10. Pace & Hong Auctions shall not be held responsible for the consequences of computer or Internet failure. 11. Pace & Hong Auctions reserves the right to withdraw or re-catalog items in this auction. 12. Pace & Hong Auctions reserves the right to refuse service or decline registration to any person.
Listing Details

Pace & Hong Auctions is pleased to announce the auction sale for a one-of-a-kind vintage Lionel Train collection, a lifetime gathering of model trains, memorabilia and rare collectible items from Richard P. Kughn, well-known Detroit businessman, entrepreneur, philanthropist, civic leader and former Owner, Chairman & CEO of Lionel Trains, Inc. Richard Kughn’s business pursuits range from commercial real estate development to manufacturing to producing movies. In addition to ownership positions in the Los Angeles Beverly Center shopping mall, Upper Deck Trading Cards and Lionel Trains, his personal interests included the acquisition of over 250 classic and rare cars. After acquiring Lionel Trains, Kughn returned its manufacturing operations from Mexico to the United States where he established the company in the Detroit area. He later sold Lionel to another pair of train lovers, oil magnate Marvin Davis and guitarist/songwriter Neil Young. Owning Lionel allowed Dick to augment his personal train collection with a variety of vintage and rare items from Lionel’s manufacturing inventory. Dick expanded his collection with his purchase of Madison Hardware in lower Manhattan, a renowned model train store. Over time, portions of Kughn’s collection have been sold and now his remaining personal acquisitions will be brought to the market by Pace & Hong Auctions.
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Lionel Trains - The Richard P. Kughn Collection - Part 1 of 5
 Live Auction w/Online Bidding
Auction Date(s)
Sunday Sep 10, 2017 Completed
Auction Location

Alpena, MI 49707
Company
Pace & Hong Auctions

Contact: William Pace
Phone: 989-727-0011
Website: www.pacehongauctions.com

Listing Terms and Conditions
1. All property is SOLD AS IS, and ALL SALES ARE FINAL. In the rare event Pace & Hong accepts a return a minimum re-stocking and return fee of 35% of the purchase price and buyers' premium will be charged; additionally the buyer must pay for return shipping. 2. By bidding on any item, the Bidder shows acceptance of these Terms & Conditions and acknowledges that all inspection, discovery and due diligence for any lots bid upon have been completed to his/her satisfaction prior to bidding. 3. Items are open to thorough public inspection. It is the Bidder's responsibility to determine condition, age, genuineness, value or any other determinative factor. Pace & Hong Auctions may attempt to describe the merchandise in advertising, on the Internet and at the auction but makes no representations, certifications or guarantees. 4. In no event shall Pace & Hong Auctions be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. 5. Bidders who bid from off-site and are not present at the live auction or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the Bidder's responsibility to determine condition, age, genuineness, value or any other determinative factor. 6. The auctioneer has the sole discretion to advance the bidding and may reject a nominal advance, should it in his estimation prove injurious to the auction. 7. The auctioneer shall be the final judge in all bidding disputes and shall name a bidder as the winner. 8. Pace & Hong Auctions shall not be held responsible for any "missed" bids or bids unseen or unheard by the auctioneer. 9. If a High Bid is simultaneously submitted by more than one bidder, whether online, from the live audience or absentee, the auctioneer will determine the winning bid. 10. Pace & Hong Auctions shall not be held responsible for the consequences of computer or Internet failure. 11. Pace & Hong Auctions reserves the right to withdraw or re-catalog items in this auction. 12. Pace & Hong Auctions reserves the right to refuse service or decline registration to any person.

Pace & Hong Auctions is pleased to announce the auction sale for a one-of-a-kind vintage Lionel Train collection, a lifetime gathering of model trains, memorabilia and rare collectible items from Richard P. Kughn, well-known Detroit businessman, entrepreneur, philanthropist, civic leader and former Owner, Chairman & CEO of Lionel Trains, Inc. Richard Kughn’s business pursuits range from commercial real estate development to manufacturing to producing movies. In addition to ownership positions in the Los Angeles Beverly Center shopping mall, Upper Deck Trading Cards and Lionel Trains, his personal interests included the acquisition of over 250 classic and rare cars. After acquiring Lionel Trains, Kughn returned its manufacturing operations from Mexico to the United States where he established the company in the Detroit area. He later sold Lionel to another pair of train lovers, oil magnate Marvin Davis and guitarist/songwriter Neil Young. Owning Lionel allowed Dick to augment his personal train collection with a variety of vintage and rare items from Lionel’s manufacturing inventory. Dick expanded his collection with his purchase of Madison Hardware in lower Manhattan, a renowned model train store. Over time, portions of Kughn’s collection have been sold and now his remaining personal acquisitions will be brought to the market by Pace & Hong Auctions.