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Lionel Model Railroads & Trains

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One of the most recognized brands in the model railroad hobby is Lionel. This company manufactures model railroad products in O gauge and is famous for its specialty model railroad sets sold at Christmas time. Lionel has built a following of model railroad enthusiasts who build their collections strictly out of Lionel stock.

Joshua Lionel Cowen founded the Lionel company in 1900. He designed his first electric model train, The Electric Express, in 1901 as a window display for toy stores. By 1906, Lionel offered a selection of engines and cars as well as preassembled track. Lionel used three-rail standard-gauge track designed to eliminate circuits. They began manufacturing model trains in O gauge in 1915, and this size eventually replaced the standard-gauge trains. Lionel discontinued the manufacture of standard gauge in 1939.

Lionel's popularity grew after World War II, and they reached their peak of production in the '50s. This era included the release of Lionel's greatest steam locomotive, the No. 746 Norfolk and Western. Lionel's popularity declined in the '60s, and the company was sold to General Mills in 1969. General Mills revived Lionel model trains in the '70s, and the company has survived several changes in ownership since. Lionel model trains for sale at auction continue to draw great interest from collectors and enthusiasts all over the world.

Quick Facts

  • Lionel's first model trains were powered by wet cell batteries. These batteries were filled with acid and dangerous. The company soon replaced the batteries with 110-volt transformers
  • The 2004 Polar Express train set, designed to commemorate the movie "The Polar Express," is one of Lionel's best-selling model train sets of all time
  • In 2016, a standard-gauge Lionel train set from 1934 sold at auction for $250,000. The set included a 400E engine and state passenger cars, all in mint condition in the original box
  • In recent years, Lionel has moved production of some limited edition lines back to the United States. Lionel trains corporate headquarters are now located in Concord, North Carolina.

Learn more about the history and value of Lionel trains on the Invaluable blog.

Recommended Items at Auction

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Lionel Prewar O Ga. Semi-Scale Die-Cast Freight Set 787W w/763E 2226WX 2957 2955 2956 2957 LIKE NEW Boxed
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. Semi-Scale Die-Cast Freight Set 787W w/763E 2226WX 2957 2955 2956 2957 LIKE NEW Boxed
by Stout Auctions Toy and Train Specialists
Est: $10- $5,000
$3,40024 Bids
Lionel Prewar Std. Ga. Incredible Preproduction Dark Blue 400E and 400T w/Red Striping
Feb 22, 10:00 AM EST
Lionel Prewar Std. Ga. Incredible Preproduction Dark Blue 400E and 400T w/Red Striping
by Stout Auctions Toy and Train Specialists
Est: $10- $100,000
$29,50021 Bids
Lionel Prewar O Ga. Orange Pass Set 267 with 4 605 605 606 LIKE NEW Boxed
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. Orange Pass Set 267 with 4 605 605 606 LIKE NEW Boxed
by Stout Auctions Toy and Train Specialists
Est: $10- $4,000
$1,90020 Bids
Lionel Prewar O Ga. 123 Tunnel w/90-Degree Curve Trees Shrubs House LIKE NEW Boxed
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. 123 Tunnel w/90-Degree Curve Trees Shrubs House LIKE NEW Boxed
by Stout Auctions Toy and Train Specialists
Est: $10- $200
$42519 Bids
Lionel Prewar 2 7/8 Ga.Very Rare no. 100 Green/Black B&O Powered Electric Loco Numbered 5
Feb 22, 10:00 AM EST
Lionel Prewar 2 7/8 Ga.Very Rare no. 100 Green/Black B&O Powered Electric Loco Numbered 5
by Stout Auctions Toy and Train Specialists
Est: $10- $20,000
$7,60019 Bids
Lionel Prewar O Gauge Red Macys Special Passenger Set w/450 610 610 612 LIKE NEW Boxed
Feb 22, 10:00 AM EST
Lionel Prewar O Gauge Red Macys Special Passenger Set w/450 610 610 612 LIKE NEW Boxed
by Stout Auctions Toy and Train Specialists
Est: $10- $8,000
$1,90018 Bids
Lionel Prewar Std Ga Scarce and Desirable No. 9 Pay As You Enter Trolley
Feb 22, 10:00 AM EST
Lionel Prewar Std Ga Scarce and Desirable No. 9 Pay As You Enter Trolley
by Stout Auctions Toy and Train Specialists
Est: $10- $25,000
$9,50017 Bids
Lionel Prewar O Ga. Outfit no. 900 w/230 Switcher and a 2230T PRR Slope-Back Tender
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. Outfit no. 900 w/230 Switcher and a 2230T PRR Slope-Back Tender
by Stout Auctions Toy and Train Specialists
Est: $10- $1,000
$70017 Bids
Lionel Prewar Standard Gauge Desirable no. 6 Special Nickel and Brass Steam Loco and Tender LIKE NEW
Feb 22, 10:00 AM EST
Lionel Prewar Standard Gauge Desirable no. 6 Special Nickel and Brass Steam Loco and Tender LIKE NEW
by Stout Auctions Toy and Train Specialists
Est: $10- $7,500
$5,90017 Bids
Lionel Prewar O Ga. Rare Sears no. 100 Streamlined Flying Yankee Set w/Accessories LIKE NEW Boxed
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. Rare Sears no. 100 Streamlined Flying Yankee Set w/Accessories LIKE NEW Boxed
by Stout Auctions Toy and Train Specialists
Est: $10- $7,500
$3,60017 Bids
Lionel Prewar O Gauge Red Passenger Set no. 292 w/ 248 629 630
Feb 22, 10:00 AM EST
Lionel Prewar O Gauge Red Passenger Set no. 292 w/ 248 629 630
by Stout Auctions Toy and Train Specialists
Est: $10- $250
$11016 Bids
Lionel Prewar Std. Ga. 1911 Dark Olive Green Electric w/Thin-Rimmed Drivers
Feb 22, 10:00 AM EST
Lionel Prewar Std. Ga. 1911 Dark Olive Green Electric w/Thin-Rimmed Drivers
by Stout Auctions Toy and Train Specialists
Est: $10- $1,000
$1,00016 Bids
Lionel Prewar O Ga. Brass Prototype 701 PRR B-6 Scale Switcher w/Slope-Back Tender
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. Brass Prototype 701 PRR B-6 Scale Switcher w/Slope-Back Tender
by Stout Auctions Toy and Train Specialists
Est: $10- $10,000
$1,45015 Bids
Lionel Prewar O Ga. 916 Felt Composition 90-Degree Tunnel LIKE NEW Boxed
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. 916 Felt Composition 90-Degree Tunnel LIKE NEW Boxed
by Stout Auctions Toy and Train Specialists
Est: $10- $400
$32514 Bids
Lionel Prewar 2 7/8 Ga. ten no. 380 Dark Green Cast Iron Elevated Pillars w/ 310 Track Sections
Feb 22, 10:00 AM EST
Lionel Prewar 2 7/8 Ga. ten no. 380 Dark Green Cast Iron Elevated Pillars w/ 310 Track Sections
by Stout Auctions Toy and Train Specialists
Est: $10- $750
$2,00014 Bids
Lionel Prewar Std. Ga. Two-Tone Brown State Set 411E w/408E 412 413 414 416
Feb 22, 10:00 AM EST
Lionel Prewar Std. Ga. Two-Tone Brown State Set 411E w/408E 412 413 414 416
by Stout Auctions Toy and Train Specialists
Est: $10- $9,000
$2,50014 Bids
Lionel Prewar O Ga. no. 703 Dark Green Rubber-Stamped NYC Lines Electric Loco Circa 1915-16
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. no. 703 Dark Green Rubber-Stamped NYC Lines Electric Loco Circa 1915-16
by Stout Auctions Toy and Train Specialists
Est: $10- $1,000
$2,30014 Bids
Lionel Prewar O Ga. Scale 700E NYC Hudson w/700W NYC Tender LIKE NEW
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. Scale 700E NYC Hudson w/700W NYC Tender LIKE NEW
by Stout Auctions Toy and Train Specialists
Est: $10- $5,000
$3,50014 Bids
Lionel Prewar O Ga. West Coast Dept. Store Two-Tone Green City of Denver Set 6531W w/636W 637 637 638
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. West Coast Dept. Store Two-Tone Green City of Denver Set 6531W w/636W 637 637 638
by Stout Auctions Toy and Train Specialists
Est: $10- $5,000
$4,50013 Bids
Lionel Prewar O Ga. 231 Steam PRR B-6 Switcher w/2231B PRR Slope-Back Tender from Outfit 901B LIKE NEW Boxed
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. 231 Steam PRR B-6 Switcher w/2231B PRR Slope-Back Tender from Outfit 901B LIKE NEW Boxed
by Stout Auctions Toy and Train Specialists
Est: $10- $3,500
$1,85013 Bids
Lionel Prewar 2 7/8 Ga. no. 600 Light Green Derrick Trailer
Feb 22, 10:00 AM EST
Lionel Prewar 2 7/8 Ga. no. 600 Light Green Derrick Trailer
by Stout Auctions Toy and Train Specialists
Est: $10- $15,000
$9,00013 Bids
Lionel Prewar O Ga. 813 Scarce Tuscan Rubber-Stamped Cattle Car MINT Boxed
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. 813 Scarce Tuscan Rubber-Stamped Cattle Car MINT Boxed
by Stout Auctions Toy and Train Specialists
Est: $10- $2,000
$1,35013 Bids
Lionel Prewar O Ga. Blue/Silver Promotional Passenger Set w/ 229 Gunmetal 2689W 2630 2631
Feb 22, 10:00 AM EST
Lionel Prewar O Ga. Blue/Silver Promotional Passenger Set w/ 229 Gunmetal 2689W 2630 2631
by Stout Auctions Toy and Train Specialists
Est: $10- $500
$35013 Bids
Lionel Prewar O Gauge Dark Green Passenger Set no. 70 w/700 600 600
Feb 22, 10:00 AM EST
Lionel Prewar O Gauge Dark Green Passenger Set no. 70 w/700 600 600
by Stout Auctions Toy and Train Specialists
Est: $10- $750
$67513 Bids

Sellers Who Sell Lionel Model Railroads & Trains


Weiss Auctions

Weiss Auctions

Stout Auctions Toy and Train Specialists

Stout Auctions Toy and Train Specialists

Apple Tree Auction Center

Apple Tree Auction Center

Westport Auction

Westport Auction