July 16 2010 Morphy Auctions Fri Session

TERMS OF SALE / GUIDE FOR BUYERS We advise all bidders to read the Terms and Conditions of the Sale before bidding with Dan Morphy Auctions. Those who bid are bound by those Terms and Conditions of the Sale, as amended by any oral announcement or posted notices, which together form the contract of the sale between the successful bidder (purchaser), Dan Morphy Auctions and the seller (consignor) of the lot. When bidding on any lot offered by Dan Morphy Auctions, the bidder indicates acceptance of the following Terms of Sale: CONDITION OF ITEMS Dan Morphy Auctions makes every effort to accurately describe all items offered in its sales, however all items for sale are ''as is,'' and it is the bidder's responsibility (present or absentee bidders) to determine the exact condition of each item. Dan Morphy Auctions will not be held responsible for typographical errors. All items will be available for preview two (2) months prior to the auction. We do NOT guarantee trains or clocks to be in running order. Grading Scale: Near Mint Plus 97% - 100% Near Mint 90% - 96% Excellent 80% - 89% Very Good 70% - 79% Good Below 70% ABSENTEE BIDS Dan Morphy Auctions will accept absentee bids if pre-authorized by mail, fax or www.morphyauctions.com. Absentee bidders must use the absentee bid form and clearly mark the lot number, title and maximum bid amount. Absentee bidding forms may be accessed online at www.morphyauctions.com. If there are two (2) identical bids placed on the same item, priority will be given to the first bid received. All bids must be left in increments as explained on our bid form. If a left bid is ''out of increment,'' the auctioneer has the right to round the bid up to the next correct increment. Dan Morphy Auctions is pleased to offer online absentee bidding as part of our auction services. Bidders may preview, register and place bids online through our Web site. Online absentee bidding through Dan Morphy Auctions is available until two (2) hours prior to the sale. During the live sale, the auctioneer will execute your absentee bid competitively up to the maximum amount you have indicated. Online bidding through LiveAuctioneers is also available; Terms and Conditions still apply. If there is a tie bid between the Internet bidding venues (LiveAuctioneers) and the floor, the floor bid takes precedence. BID LIVE VIA TELEPHONE An absentee bidder may also participate live in the auction via telephone. Requests for phone lines must be received at least three (3) days prior to the auction date. Dan Morphy Auctions cannot guarantee phone lines but will make every attempt to accommodate those who wish to participate through that method. Phone lines are provided on a first come first served basis. Please visit morphyauctions.com or call 717-335-3435 to request a call from our representatives during the live auction. BID INCREMENTS Bid increments listed are a general guideline. Actual increments are at the auctioneers discretion. $0 - $200..........$10 $200 - $500........$25 $500 - $1,000......$50 $1,000 - $2,000....$100 $2,000 - $5,000....$250 $5,000 - $10,000...$500 $10,000 +..... Auctioneers discretion If a lot does not receive a bid of 25% of the low estimate, that lot will be passed by the auctioneer. APPROXIMATE AUCTION TIMES FOR FRIDAY, JULY 16, 2010 LOTS TIME (EDT) 1 to 100 10:00 AM 101 to 200 11:00 AM 201 to 300 12:00 PM 301 to 400 1:00 PM 401 to 500 2:00 PM 501 to 600 3:00 PM 601 to 657 4:00 PM RESERVES The majority of our items are unreserved, but occasionally items may carry a moderate reserve. Please note that when a lot carries a reserve, the reserve is usually somewhere below our low estimate. In the case of a reserved item, the seller has authorized the auctioneer to bid on their behalf until the reserve price is reached. Actual reserve amounts cannot be disclosed, but we will advise you if an item carries a reserve, should you ask. Unreserved lots will have a minimum opening bid of one-fourth of the low estimate. RIGHTS & RESPONSIBILITIES The auctioneer will determine the highest bidder. The auctioneer alone has the right to reopen the bidding of an item if deemed necessary due to a dispute. If there is a tie bid between the floor and Internet or absentee bid, the floor takes bid precedence. Dan Morphy Auctions and its representatives reserve the right to remove those attendees who impede the previews and/or the auction. Title to all merchandise shall pass to the highest bidder at the fall of the auctioneers hammer. The buyer will then assume all risk and full responsibility of the lot purchased once ownership has changed. BUYERS PREMIUM A 17% buyers premium will be added to all successful bids and is payable by the purchaser as part of the total purchase cost. A 2% discount is applied to payments made with cash, check or money order. Split payments are subject to a 17% buyers premium if a credit card is used as any form of total payment. SALES TAX All buyers will pay Pennsylvania sales tax of 6% unless a valid Tax Exemption Identification is on file or presented at time of purchase. Please present a copy of your Tax Exemption Identification at the sale, or at the time of leaving an absentee or phone bid. PAYMENT All merchandise must be paid in full within two (2) weeks of the date of the sale. Absolutely NO returns will be accepted on any item that was not paid for and/or returned to Dan Morphy Auctions within 30 days of the sale date. We accept: Visa, MasterCard, Discover, personal checks/ certified checks, wire transfers, money orders, cash and PayPal. Split payments are subject to a 17% buyers premium if a credit card is used as any form of total payment. Make checks payable to: Dan Morphy Auctions. Make PayPal payments to: info@morphyauctions.com. Dan Morphy Auctions reserves the right to hold items paid for by personal check until said check clears. Call 717-335-3435 to pay your invoice by phone. Note: There will be a $30.00 service charge for returned checks. SHIPPING Packaging, shipping of, and insurance on items will be available to successful bidders. Shipping costs will be billed separately and are NON-REFUNDABLE. Items will ship three to four (3-4) days after payment is received. For shipping questions please contact Betsy Lee at 717-335-4579 or betsy@morphyauctions.com. International Bidders- By law Dan Morphy Auctions cannot declare lesser values for any international purchases and all shipments will include the invoice with purchase totals including the buyers premium and shipping cost. All international bidders are responsible for paying all customs and duties on the items. POSTSALE RETURN POLICY Dan Morphy Auctions hires knowledgeable experts to provide catalog descriptions on the merchandise we sell. Every effort is made to ensure those descriptions are accurate and that they fully disclose any exceptions to condition. Buyers who wish to report a problem with a purchase they have made must notify Dan Morphy Auctions within three (3) days of receipt of their purchased item. If a return is authorized by Dan Morphy Auctions, the item in question must be shipped, with full insurance, so it arrives at Dan Morphy Auctions within one week of the aforementioned authorization. With respect to all returns, it is the buyers responsibility to cover the cost of the shipment and insurance, regardless of the reason for the return. Dan Morphy Auctions will NOT reimburse shipping costs to buyers who return auction goods. All sales are final. All rights reserved. Entire contents copyright 2010, Dan Morphy Auctions LLC. Copyright includes, but is not limited to, print media, microform and electronic media, such as CD-ROMs and online computer services.

Approximate Auction Times for July 16, 2010brbrbFRIDAY - JULY 16brLOTS TIME (EDT)bbr1 - 100 10:00 AMbr101 - 200 11:00 AMbr201 - 300 12:00 PMbr301 - 400 1:00 PMbr401 - 500 2:00 PMbr501 - 600 3:00 PMbr601 - 657 4:00 PMbrbr

All buyers will pay Pennsylvania sales tax of 6% unless a valid Tax Exemption Identification is on file or presented at time of purchase. Please present a copy of your Tax Exemption identification at the sale, or at the time of leaving an absentee or phone bid. Please present a copy of your Tax Exemption Identification at the sale, or at the time of leaving an absentee or phone bid.

bCOLLECTORS COULD STRIKE GOLDbbrbr When little-known California toy collection is auctioned...brbr Michael OHearn collection flew under the radar for nearly three decades.brbr DENVER, PA. Dan Morphy Auctions has become a hive of activity over the past year since the introduction of its new Discovery Specialty Auctions which offer collectors variety and a choice of price points and its tightly focused Specialty Auctions that present one particular type of collectible, such as antique firearms. The cream of the crop whether its toy trains, advertising or fine and decorative art is reserved for Morphys Premier Auction series, the first of which will take place July 16-17.brbr Featuring 1,300 lots of toys and advertising, the July Premier event offers as its centerpiece the collection of retired California architect and Victorian home restorer Michael OHearn (read Michael O'Hearn's Collector Profile). The collection of mostly mintboxed toys was amassed over a 28-year period and will be offered unpicked and in its entirety. It runs the gamut from European, early American and Japanese toys to pressed steel, pedal cars and even two actual hot rods.brbr Very few people have seen or heard of this truly exceptional collection, said auction company owner Dan Morphy. Mr. OHearn never sold a toy; over the years he only bought, and in each of the 46 categories of his collection, he kept the emphasis on condition. Almost all of the OHearn toys are a strong 9 out of 10 or better. Whats amazing is that, as large as this collection is and as long as it took to put it together, it was only ever viewed by a few people. To most collectors, it is an unknown collection that has flown under the radar for nearly three decades. Its as fresh to the market as it gets, and collectors are going to love it.brbr The auctions flagship collection came to Morphys as a result of the 20-year business association and friendship between OHearn and Morphys chief operating officer, Tom Sage Jr. I started selling toys to Michael in the late 1980s or early 1990s, through my ads in Antique Toy World, said Sage. He was always very pleasant to deal with, a real gentleman. He was also very modest. For many years I had no idea how large and impressive his collection was, until Michael extended an invitation to Dan and myself to visit his home and view the toys. We took him up on the invitation.brbr At his house, he had six cases filled with toys downstairs, which in itself, was not that unusual, but then we went into a second room, a third room and then upstairs. I couldnt believe what I saw. I never would have imagined he had some 4,000 toys in his collection, at least 2,500 of them in their original boxes. As toy collections go, its a California gold mine, right up there with the very best, and Im really honored that Michael entrusted the collection to us.brbr The Friday, July 16 session will open with more than 75 boxed robot and space toy lots. Highlights include boxed examples of a New Space Station (estimate 1,000-1,500), a standard Space Station (1,500-2,000) and a friction Space Bus (1,200-1,800). A TV Space Patrol Car is expected to make 1,500-2,500.brbr More than 100 European tin toys will be auctioned in the first session. A French Gem 42 racecar is entered with a 1,500-2,000 estimate, while a German lithographed-tin 15 Super Racer friction toy shows its rarity and desirability with a 4,000-8,000 estimate. Other top lots among the European toys include a Fisher windup bus with Joyville as its destination (2,000-4,000), a Moko windup tin auto (1,500-2,000) and a Lehmann Luxus auto (1,500-2,500).brbr The panoramic sub-collection of Japanese toys spans the era from pre-World War II through the boom years of postwar toymaking, known for its colorful and imaginative designs. It covers quite a range celluloid, battery ops, tin airplanes, big 50s cars, said Morphy. A 58 Atom Jet racecar is estimated at 2,000-4,000, as is a windup Harley motorcycle. A fleet of sleek cars includes a prewar Packard (1,200-1,800), 1954 red Alps Cadillac (1,500-2,500) and Lincoln Futura (1,500-2,500). A 1958 Buick Century has its cruise control set at 1,000-1,500; while a newspaper delivery station wagon is expected to apply the brakes at 1,200-1,800. A prized 1956 Haji Ford Sunliner with box could realize 4,000-6,000.brbr Michael OHearn also gets a kick out of full-size cars, as evidenced by the two beautifully appointed contemporary hot rods consigned to Morphys sale. The first, which he has owned for the past 26 years, is a 1927 Model T with green body, black fenders and black tonneau. Its original all-steel body has a new undercarriage, Ford Cobra engine and Jaguar front and rear end which hot rodders love. Described by OHearn as a deluxe mini racecar in an antique body, the car has air conditioning, power steering and a 50-gallon gas tank in its trunk.brbr At first glance, it looks like a Model T, but its deceptive, said OHearn. I would take it out for a spin and have a little fun when people would drive by, pointing at the old Model T. Id hit the gas and leave them in the dust.brbr The second hot rod, which OHearn has owned for 30 years, is a 1929 Ford Roadster convertible pickup truck in two-tone brown with chrome accenting and pinstriping. The all-original steel body accommodates a big-block Chevy engine, and its full truck bed has alternating wood panels. It has power steering, a wood dashboard and removable convertible top. Like the Model T, the powerful pickup truck has always been garaged in California, avoiding wet or cold winters. Both are licensed for the road, have been scrupulously maintained and are offered at auction complete with service records and protective covers.