Lionel Trains The Richard P Kughn Collection Part 3 of 5

Viewing Notes

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.

Conditions of Sale

PAYMENT is due at the end of the auction and becomes overdue 4 business days after you receive your invoice with purchase and shipping charges. If you are a winner you will be notified by AuctionZip, Invaluable or eBay immediately after the auction. You will receive an invoice from us within 1-3 business days. It will arrive in your regular email (not the message systems of eBay, Invaluable or Auctionzip.) Be sure to check your email SPAM folder if your invoice has not arrived.

Upon notification of winning, it is your responsibility to contact us IMMEDIATELY with any special shipping requests. 

You can easily pay through PayPal, our preferred payment method, or with your credit card by clicking the link on your invoice. We accept VISA, MASTERCARD, DISCOVER, AMERICAN EXPRESS. If you click the link to pay by credit card we will use the credit card you provided at the time you registered.

Payment must be completed within 4 business days after receiving your invoice. If your payment is not received within 4 days of invoicing we may make the payment for you by charging the credit card you used to register for the auction. Unpaid items are subject to cancellation of sale, re-sale to others and Negative Feedback for the bidder.

A minimum $35 processing fee will be charged if your initial payment method is declined and additional payment arrangements are needed. 

Payment matters should be directed to trisha@pacehongauctions.com or call 989-727-0011, ext 4 (regular business hours), or ext 0 (24/7 voicemail messages.) 

SHIPPING and DELIVERY available throughout the U.S. and world-wide, subject to specific rules for firearms and other items as specified in their auction descriptions. PICK-UP available at our Alpena Auction House and by arrangement in Metro Detroit, along US-23 and I-75 in Michigan. Depending on the arrangements, shipping and handling expenses are the responsibility of the buyer. Please email or call for specific information (office@pacehongauctions.com; 989-727-0011, ext 5)

SHIPMENTS are insured. Actual shipping cost, insurance fee, special handling fees, if applicable, and a packing fee will be charged. We combine shipping and packaging for multi-lot orders whenever practical. Preferred shippers are USPS and FedEx, though others may be used. 

Shipping expenses are not estimated prior to purchase because we try to combine all items won by a bidder into a single package that is then measured and weighed, which cannot happen until after the auction. We do not guarantee any shipping estimates until your purchase is ready for shipment after the auction has ended.

All items must be removed within 5 business days of payment. Or, alternative pick-up or shipping arrangements must be made. Items remaining at the auction location longer than 5 business days after payment may incur a storage fee and could be considered abandoned with payments to be forfeited and the item re-sold.

TAXES: 6% Michigan Sales Tax will be charged for items shipped to Michigan addresses. No sales tax for U.S. Coins, Currency and Stamps. If buyer provides a copy of a valid Michigan resale license, state taxes will not be charged. Buyers from outside of the U.S. may be subject to customs and importation fees levied by their country. Payment of such fees is the responsibility of the buyer and is not a basis for refusing or returning a purchase for refund.


ADDITIONAL TERMS & CONDITIONS FOR ALL AUCTIONS:

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. 


SALE OF FIREARMS:

$12.00 transfer fee applies for each FFL firearm purchased and delivered to the buyer at our Auction House. $20 transfer fee applies for each FFL firearm purchased and forwarded to another FFL dealer for delivery to the buyer. (Firearms subject to ATF rules can only be sold and transferred to owners within the U.S. Not all firearms are subject to FFL handling rules. Contact us regarding specific firearms we are offering for sale.)

Following Special Terms & Conditions are in addition to the regular Terms & Conditions for any of our auctions.

1. Firearms and ammunition are NOT specifically guaranteed or warranted for shooting. A purchased firearm should be inspected by a competent gunsmith for safety, function, and proper ammunition type before attempting to fire. Any description of mechanical function or condition does NOT mean the firearm has been professionally inspected or is OK for shooting. Ammunition of unknown origin should not be fired; the ammunition in this sale is sold for salvage of components or as collectibles only.

2. Sale and transfer of firearms to a buyer are subject to local, state and Federal regulations. Interpretation and compliance with such rules shall be the sole decision of the FFL verifying the buyer and transferring the firearm, unless there is clarification or specific direction by the appropriate Authority.

3. All firearms must be transferred through a FFL (Federal Firearms License) holder, i.e. licensed gun dealer or gun shop. Pace & Hong Auctions is a FFL holder and can transfer firearms to buyers from their Alpena, MI auction house or, for the convenience of non-local buyers, by arrangement with FFL holders throughout the U.S.

4. It is the responsibility of the buyer to make sure their purchase does not violate any applicable regulations. If a buyer fails to qualify under applicable regulations he will own a firearm where he will be unable to take possession. If Pace & Hong agrees to void the sale, the firearm must be returned in unchanged condition and there will be a 35% service charge plus appropriate Shipping and Handling charges. Please do not bid if you are unsure about qualifying and being able to take possession from your FFL dealer.

5. In Michigan you must be 18 or older to buy rifles or shotguns and 21 or older to buy handguns. Age requirements may vary in other states. You must identify yourself with a government issued ID that is current, shows a valid address and photo.

6. Buyers who cannot personally take possession at our Alpena auction house are responsible for selecting a FFL holder at a location convenient to the buyer. A properly documented copy of the receiving FFL holder's license must be received and verified by Pace & Hong Auctions prior to shipping. Buyer is responsible for fees associated with the transfer and shipping of firearms.

7. Items will be transferred to the buyer at our Alpena Auction House as soon as successful verification can be completed. Transfers through other FFL holders will be shipped within 3 business days of successful verification and payment of all charges and fees.

8. NOTE: ATF rules indicate that buyers may be put on delay for up to 3 days.

Condition, Genuineness, Value

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 or certifications. 

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. 

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. 

By bidding on any item, the bidder shows acceptance of these Terms & Conditions and affirms that all inspection, discovery and due diligence has been completed to his/her satisfaction prior to bidding.

Payment

PAYMENT is due at the end of the auction and becomes overdue on the 4th business days after you receive your invoice with purchase and shipping charges. If you are a winner you will be notified by AuctionZip, Invaluable or eBay immediately after the auction. Upon notification of winning, you will receive an invoice within 1-3 business days. It will arrive in your regular email (not the message systems of eBay, Invaluable or Auctionzip.) Be sure to check your email SPAM folder if your invoice has not arrived.

You can easily pay through PayPal, our preferred payment method, or with your credit card by clicking the link on your invoice. We accept VISA, MASTERCARD, DISCOVER, AMERICAN EXPRESS. If you click the link to pay by credit card we will use the credit card you provided at the time you registered.

Payment must be completed within 4 business days after receiving your invoice. If your payment is not received within 4 days of invoicing we may make the payment for you by charging the credit card you used to register for the auction. Unpaid items are subject to cancellation of sale, re-sale to others and Negative Feedback for the bidder.

A minimum $35 processing fee will be charged if your initial payment method is declined and additional payment arrangements are needed. 

Payment matters should be directed to trisha@pacehongauctions.com or call 989-727-0011, ext 4 (regular business hours), or ext 0 (24/7 voicemail messages.) 

Shipping, Delivery, Pick-Up

SHIPPING and DELIVERY available throughout the U.S. and world-wide, subject to specific rules for firearms and other items as specified in their auction descriptions. PICK-UP available at our Alpena Auction House and by arrangement in Metro Detroit. Depending on the arrangements, shipping and handling expenses are the responsibility of the buyer. Please email or call for specific information (office@pacehongauctions.com; 989-727-0011, ext 5)

SHIPMENTS are insured. Actual shipping cost, insurance fee, special handling fees, if applicable, and a minimal packing fee will be charged. We combine shipping and packaging for multi-lot orders whenever practical. Preferred shippers are USPS and FedEx, though others may be used. 

SHIPPING EXPENSES are not estimated prior to purchase because we try to combine all items won by a bidder into a single package that is then measured and weighed, which cannot happen until after the auction. We do not guarantee any shipping estimates until your purchase is ready for shipment after the auction has ended.

All items must be removed within 5 business days of payment. Or, alternative pick-up or shipping arrangements must be made. Items remaining at the auction location longer than 5 business days after payment may incur a storage fee and could be considered abandoned with payments to be forfeited and the item re-sold.


FIREARMS:

$12.00 transfer fee applies for each FFL firearm purchased and delivered to the buyer at our Auction House. $20 transfer fee applies for each FFL firearm purchased and forwarded to another FFL dealer for delivery to the buyer. (Firearms subject to ATF rules can only be sold and transferred to owners within the U.S. Not all firearms are subject to FFL handling rules. Contact us regarding specific firearms we are offering for sale.)

Following Special Terms & Conditions are in addition to the regular Terms & Conditions for any of our auctions.

1. Firearms and ammunition are NOT specifically guaranteed or warranted for shooting. A purchased firearm should be inspected by a competent gunsmith for safety, function, and proper ammunition type before attempting to fire. Any description of mechanical function or condition does NOT mean the firearm has been professionally inspected or is OK for shooting. Ammunition of unknown origin should not be fired; the ammunition in this sale is sold for salvage of components or as collectibles only.

2. Sale and transfer of firearms to a buyer are subject to local, state and Federal regulations. Interpretation and compliance with such rules shall be the sole decision of the FFL verifying the buyer and transferring the firearm, unless there is clarification or specific direction by the appropriate Authority.

3. All firearms must be transferred through a FFL (Federal Firearms License) holder, i.e. licensed gun dealer or gun shop. Pace & Hong Auctions is a FFL holder and can transfer firearms to buyers from their Alpena, MI auction house or, for the convenience of non-local buyers, by arrangement with FFL holders throughout the U.S.

4. It is the responsibility of the buyer to make sure their purchase does not violate any applicable regulations. If a buyer fails to qualify under applicable regulations he will own a firearm where he will be unable to take possession. If Pace & Hong agrees to void the sale, the firearm must be returned in unchanged condition and there will be a 35% service charge plus appropriate Shipping and Handling charges. Please do not bid if you are unsure about qualifying and being able to take possession from your FFL dealer.

5. In Michigan you must be 18 or older to buy rifles or shotguns and 21 or older to buy handguns. Age requirements may vary in other states. You must identify yourself with a government issued ID that is current, shows a valid address and photo.

6. Buyers who cannot personally take possession at our Alpena auction house are responsible for selecting a FFL holder at a location convenient to the buyer. A properly documented copy of the receiving FFL holder's license must be received and verified by Pace & Hong Auctions prior to shipping. Buyer is responsible for fees associated with the transfer and shipping of firearms.

7. Items will be transferred to the buyer at our Alpena Auction House as soon as successful verification can be completed. Transfers through other FFL holders will be shipped within 3 business days of successful verification and payment of all charges and fees.

8. NOTE: ATF rules indicate that buyers may be put on delay for up to 3 days.

Taxes

6% Michigan Sales Tax will be charged for items shipped to Michigan addresses. No sales tax for U.S. Coins, Currency and Stamps. If buyer has provided a valid Michigan resale license, state taxes will not be charged. Buyers from outside of the U.S. may be subject to customs and importation fees levied by their country. Payment of such fees is the responsibility of the buyer and is not a basis for refusing or returning a purchase for refund.