5/08 Traditional Auction - 10%

IMPORTANT TERMS AND CONDITIONS FOR INDIVIDUALS LEAVING BIDS ON E-Bay LIVE: Please read these Terms and Conditions before registering as they affect your legal rights and obligations. KNOWLEDGE: Know what you are bidding on. Do not just bid on the title or just on one picture. Read the entire text. Look at all of the available pictures. Understand what you are bidding on, because once you place a bid, you cannot cancel it under most circumstances without paying a penalty (and we are not responsible for typos). TIME: This Auction begins at 7:00 p.m. Eastern Daylight Time on Saturday, May 10, 2008. It will be completed prior to midnight on that date. PAYMENT: We do not accept Paypal. Winning Bidders may pay their bills with Money Orders or Checks in US Funds. No other method of payment is accepted. Payment must be received by the Attorney and ABT within ten days of the date of the Auction. An Administrative Fee is added to every Lot that is not paid for within twenty days of the date of the auction (see below) and the High Bidder consents by registering for the auction that such fee has to be paid on all payments made after twenty days following the date of the auction before any item(s) is shipped. INVOICES: Invoices will be sent out to the winning high bidders on the day following the Auction at the e-mail address that each Registered Bidder has placed on file with e-bay. Do not use the e-bay check-out procedure or send us e-mails through the e-bay process. If you need to contact us, either use our e-mail address, ambrosebauer@comcast.net, or telephone us. High Bidders who do not follow this procedure are in Breach of the Terms and Conditions of this Auction and we will yell at you and call you names. Bidders who have "hotmail" as their e-mail provider will have significant difficulty in receiving our e-mails and should expect a need to contact us by a different procedure after the Auction. Unlike other Auction Houses, we answer our phones the day following the Auction. SHIPPING/INSURANCE FEES: The Shipping/Insurance Fees noted within each Listing are for shipment within the US-48 States. If the Winning Bidder lives outside the US-48, additional Shipping Fees may be required and the Winning Bidder agrees to pay such fees. Please note that all shipments within the United States are sent by UPS Ground and that we cannot ship to Post Office Boxes. All Items will be shipped within twenty-eight days of receipt of full payment. Items are insured for the amount of the High Bid plus the Amount of the Buyer's Premium. Items shipped outside the United States are not Insured. Since all items listed in the Auction have to be shipped, Shipping for all items may take 3-4 weeks at least past the date of the Auction and/or date of Payment. AUCTION FEES: INTERNET BIDS USING E-BAY LIVE: A TEN Percent Buyer's Premium will apply for those leaving bids through e-bay Live. Payment must be made in US Funds by check or money order within ten days of the date of the Auction. An Additional Fee will be charged for Shipment and Insurance. Items must be paid for in full, including the amount of the Buyer's Premium, before they are shipped. (Please note that we have different Buyer's Fees depending on the type of Auction we conduct. Please in the future check to see the exact Buyer's Fee listed for each Auction as it will change Auction to Auction). SALES TAX: Pennsylvania Sales Tax will be collected on items shipped to a Pennsylvania Address, or picked up in person, unless the High Bidder has a current Resale Tax Exemption Certificate on file. Pennsylvania Sales Tax is Seven Percent in Allegheny County and this percentage will be charged to all Pennsylvania Residents, no matter what County they reside in. TITLE: Auctions are conducted by Drew J. Bauer, Esquire as Attorney in Fact. Title to any lot transfers to the bidder at the time the Attorney accepts the Bidder's Bid as the High Bidder, enters it as the Winning Bid into the Database for the Private Auction, and certifies it as the Winning Bid. The Attorney reserves the right to refuse any and all bids, at his sole discretion, whether or not a reserve is in place, and will be the sole arbiter in any dispute. The Attorney may, if he chooses, re-offer a disputed lot. LIMITED RIGHT OF RETURN: The items sold at our Private Auctions are sold as is, where is and may not be returned for any reason with the following limited exceptions: (a) If an item is noted in the listing as being Original, the Attorney and AmbroseBauer Trains will accept the return of the same and actual item within one year of the date of the auction it the item's originality has been questioned provided that: (i) the name(s) and full address(es) of any and all person(s) questioning the item's originality, other than that of the purchaser, is provided to the Attorney and AmbroseBauer Trains at the time of the return; (ii) the same item is in the same condition as it was in at the time it was auctioned by AmbroseBauer Trains; (iii) the purchaser is not currently in default of any contractual obligation to AmbroseBauer Trains, Drew J. Bauer and/or Paul V. Ambrose at the time of the return; and (iv) the purchaser is entitled to currently bid on items being offered by the user names "drew_bauer", "ambrosebauer_trains" and "ambrosebauer_auctions" at the time of the return. There has to be a good faith basis for questioning the originality of an item as well as a substantial basis for such a challenge. Upon receipt of such a qualified return, the Attorney and AmbroseBauer Trains shall either correct the issue or refund the amount of the bid, any buyer's premium paid, and any shipping incurred on the item's return to the Attorney and AmbroseBauer Trains to the purchaser within thirty days of said return. The Mechanical Operation of an Item, Screws, Small Parts, Wires and Minor Mechanical Items are not covered by any limited guarantee of originality issued by the Attorney and AmbroseBauer Trains and any questions or issues arising from such items may not establish a right to return any item within the provisions of this limited return policy. (b) If an item is noted in the listing as being a specific variation, a specific model, or from a specific manufacturer, the Attorney and AmbroseBauer Trains will accept the return of the same and actual item within one year of the date of the auction it the item's description has been questioned provided that: (i) the name(s) and full address(es) of any and all person(s) questioning the item's description, other than that of the purchaser is provided to the Attorney and AmbroseBauer Trains at the time of the return; (ii) the same item is in the same condition as it was in at the time it was auctioned by the Attorney and AmbroseBauer Trains; (iii) the purchaser is not currently in default of any contractual obligation to AmbroseBauer Trains, Drew J. Bauer and/or Paul V. Ambrose at the time of the return; and (iv) the purchaser is entitled to currently bid on items being offered by the user names "drew_bauer," "ambrosebauer_trains" and "ambrosebauer_auctions" at the time of the return. There has to be a good faith basis for questioning the description of an item as well as a substantial basis for such a challenge. Upon receipt of such a qualified return, the Attorney and AmbroseBauer Trains shall either correct the issue or refund the amount of the bid, any buyer's premium paid, and any shipping incurred on the item's return to the Attorney and AmbroseBauer Trains to the purchaser within thirty days of said return. Other than the specific exceptions listed herein, an item may not be returned for any other reason. MORE DISCLOSURES: All train items are graded in good faith pursuant to the Attorney and AmbroseBauer Trains' understanding and use of the old grading standards of the Train Collectors Association as actually applied by most knowledgeable collectors who sell or buy substantial amounts of trains each year. The Attorney and AmbroseBauer Trains does not aver, warrant or guarantee that the TCA, or anyone else, would agree on any specific day as to the specific grading used herein. Although the TCA did not use plus and minus in their original grading standards, the Attorney and ABT uses them to convey which range of a particular grade the piece is closer. The Attorney and ABT believe that such use gives a potential purchaser a better idea as to the actual subjective grading of a piece. Boxes are graded pursuant to the widespread DJB Standard Box Grading Standards. All standards are obviously subjective but ABT has been grading items for over thirty years. The Attorney and ABT include "in our Opinion" in each listing to make the point that the grading is ABT's collective personal opinion and that others may, and will, have a different opinion. The Attorney and ABT provide up to 44 pictures of each lot and expects a Bidder to review each available photo and make their own determinations as to grading. Feedback may not be left as to issues of grading and any feedback so left will be a violation of the Terms and Conditions. PHOTOS: Please note that on each item the Attorney and ABT include at least ten high quality photographs with the e-bay live listings, and up to forty-four pictures per lot at its website, so that you can make your own opinion as to its condition. The Attorney and ABT expect each bidder to view ALL of these photos, including those on the website, and as such ABT's listings do not necessary include all information as to an item that can easily be ascertained by the viewing of the photos. Details viewable in any of the photos of a particular lot are incorporated herein in the text and description of any Lot listed through e-bay live. When there is a conflict between the pictures and the text, the pictures control. NO RETURNS: Items purchased may not be returned on issues of Grading. No warranty or guarantee is made as to any Grading. OPERATION OF OUR PRIVATE AUCTIONS: Your bids cannot be cancelled or stopped once you have reached a certain amount, or if you are interested in bidding on multiple items, your directions not to bid on the remaining items if you have or have not won a specific item will not be honored. As such, be prepared to be the winning bidder on any bid that you may place. Absentee bids may be cancelled by Drew J. Bauer, Esquire and/or AmbroseBauer Trains in the event there is a conflict in the stated condition or variation of an item, an error in the listing, an error in the catalog, current or previous nonpayment of bids, and/or any reasonable basis at the discretion of the named Attorney and/or Auctioneer. Neither Drew J. Bauer, Esquire nor AmbroseBauer Trains is responsible for missed Absentee Bids and/or the execution of e-bay LIVE or e-bay LIVE bids. In the event that e-bay LIVE goes down before or during a Private Auction, it is at the discretion of Drew J. Bauer, Esquire and/or AmbroseBauer Trains to continue the Private Auction with or without the placement of any current e-bay LIVE Bids. The Date and Time of any Private Auction or made be changed or modified at any time by Drew J. Bauer, Esquire and/or AmbroseBauer Trains. Items that have reserves have bids placed on them by the Attorney during the operation of the Auction. OPERATION OF E-BAY LIVE AUCTIONS: Please note that e-bay live does not control the manner that the actual auction is conducted. E-bay live bidders represent approximately ten percent of the total bidders for each of our auction. E-Bay live bidders are bidding against other Bidders who have left bids with us, or are currently bidding with us, for each increment on each lot. Accordingly, the time when each e-bay live bidder may have placed a bid is controlling only among other e-bay live bidders but is not relevant as to issues of bids placed outside the e-bay live process. Further, neither AmbroseBauer Trains nor the Attorney warrants or represents that the Bidding History shown on each e-bay live lot is accurate. The Individual entering information into the e-bay live computer while the auction is being conducted will always be behind the actual bidding that is occurring on the floor or our website until the final bids. AmbroseBauer Trains and the Attorney warrants and represents as accurate only that the final and high bid, when certified as final the day after the close of the auction by the Attorney, is the high bidder and at the high bid shown, and that the high bid shown is one bidding increment above the actual second bid received by or made by the Attorney as set forth in the Terms and Conditions. A Bidder who registers for this Auction warrants and agrees to this Bidding Process. LIMITATION OF DAMAGES: Neither Drew J. Bauer and/nor AmbroseBauer Trains is liable for any consequential and/or punitive damages that any Bidder or Prospective Bidder may incur, and the placement of any bid on our Listings, or registration for our Private Auctions on E-Bay Live, shall act as a full and complete legal waiver of any right to any such consequential and/or punitive damages as to any matter arising out of any Private Auction and/or e-Bay Live. NO CANCELLATION OF BIDS: Individuals may not cancel bids placed on e-bay live without the prior written permission of Drew J. Bauer. Individuals who withdraw and/or cancel bids placed through e-bay live on the instant Auction, without the prior written permission of Drew J. Bauer, shall be in breach of the Terms and Conditions as stated herein and shall carry the penalty of $1,000.00 per cancelled bid, payable to Drew J. Bauer, Esquire without further demand. DETERMINATION OF WINNING BID: The fact that e-bay live may show a winning bidder as an Internet Bidder does not mean that an Internet Bidder was the actual high bidder of any particular lot from this Auction. The Attorney shall have the sole and exclusive right to determine at any time set forth in these Terms and Conditions who is the actual high bidder of any particular lot. Any Bidder, by agreeing to these Terms and Conditions, by registering for this Auction, and by placing a bid on any particular lot, agrees that the Attorney does have the final word as to who the winning bidder of any particular lot is, and the amount of the high bid on each particular lot, and that the designation by e-bay live of the winning bidder or bid amount shall not be relevant unless ratified by the Attorney. OPERATION OF ITEMS: Unless otherwise noted in the listing that ABT has operated an item, ABT does not test items as to whether they operate or run. If the listing notes that ABT has operated an item, it means ABT has connected it to power and ensured that the item had some method of operation when subjected to power. ABT does not aver or warrant to any degree anyone's satisfaction of the operation of a particular item or that all operational functions of a particular item actually operated. The High Bidder warrants to AmbroseBauer Trains and the Attorney that they waive any issue as to the operational functions of an item. ABT's Grading incorporates the physical appearance of the item(s) and not its/their mechanical operation. Items may not be returned because they do not operate. JURISDICTION & VENUE: By registering at our Private Auctions, including the use of bidding through e-bay LIVE, you agree that the only judicial, corporate, non-profit and/or administrative bodies or entities with original jurisdiction and/or venue over any transaction arising from our Private Auctions and/or e-bay Live, and/or any action arising or relevant thereto, including issues regarding feedback, is the Court of Common Pleas of Allegheny County, Pennsylvania or any judicial body within the jurisdiction of said Court. Any Bidder who files any Administrative, Club, Governmental, Corporate, Agency and/or Judicial Action or Complaint in any other Court, Forum or Body shall be liable to the Attorney and AmbroseBauer Trains for the Attorney's Fees, Court Costs, Fees, Expenses and Travel Expenses incurred by AmbroseBauer Trains, Paul V. Ambrose and/or Drew J. Bauer in such any action relating to the transfer, defense, or dismissal of said Action and/or Complaint. Further, the Bidder gives their Power of Attorney to Drew J. Bauer, Esquire to seek the dismissal with prejudice of such Action and/or Complaint. WARRANTIES: All items are sold as is where is except as otherwise noted in these Terms and Conditions as applicable to an item's originality, the description of an item being a specific variation, the description of an item being a specific model and/or the description of an item being from a specific manufacturer. Except as otherwise explicitly stated in these Terms and Conditions, there is no privilege or right of return. ABT are Collectors, not Operators. Neither the Attorney nor ABT is not an authorized Lionel dealer, or that of any other manufacturer, and as such no manufacturer's or original dealer's warranties are given or provided on any item that the Attorney and ABT auctions, sells or offers. REGISTRATION: Individuals who register to bid on any Auction conducted by the Attorney on e-bay Live warrant that they are the individual so named and are at the address listed in such Registration. Bidders who have previously been informed that they have been banned from bidding on the items offered by Drew J. Bauer and/or AmbroseBauer Trains may not register for the instant Auction under any name or entity, or request another individual to bid on their behalf, and other parties may not bid on their behalf. Individuals who register under false names or using false and/or untrue information, or in violation of being banned from bidding, or bidding on the behalf of those who have been banned, shall be in breach of the Terms and Conditions of this WebSite and shall, by such False Registration, or providing False or Untrue Information to AmbroseBauer Trains and/or Drew J. Bauer, agree to pay the Liquidated Damages Amount of $25,000.00 to the Attorney and AmbroseBauer Trains. Failure to pay said amount within ten days of such False Registration and/or demand shall lead to the filing of a civil action in the Court of Common Pleas of Allegheny County, Pennsylvania to seek such a judgment for said amount. Any individual who registers under a false name, or with false and/or untrue information, consents by such Registration and/or use of e-bay Live to the filing of such lawsuit, and the payment of any legal fees and/or legal expenses incurred by the Attorney and AmbroseBauer Trains, as well as jurisdiction and venue of said Court, by making such Registration(s). DEFAULT: Any Bidder, including High Bidders, that is in default of any of the Terms and Conditions set forth herein shall be liable for any costs incurred by the Attorney and AmbroseBauer Trains as a result of such default, including, but not limited to Bank Fees, Interest at the rate of Twelve Percent Annually, Attorney's Fees, Court Costs, Legal Expenses, Travel Expenses; and any Bidder, by registering herein, or by placing bids on any offering of the Attorney or ABT, shall be deemed to have consented to such type of costs, including, but not limited to, Attorney's Fees. For the purposes of any of the time periods stated herein, TIME IS OF THE ESSENCE and any Bidder, by registering, or by placing bids at any of the Attorney or ABT's Private Auctions, shall be deemed to have consented to, and have notice of, that TIME IS OF THE ESSENCE as to any time periods noted herein. For the purposes of this Section, Default shall include, but is not limited to, the leaving of negative or neutral feedback, in fact or tone. RETURNED CHECKS: Any Bidder whose check has been returned by a financial institution as not being paid in full for any reason shall be obligated to pay the Attorney and ABT the amount of $25.00 plus the amount of the returned check. LATE PAYMENTS: Any Bidder who does not make payment on any winning bid within twenty days of the date of the Auction shall pay to the Attorney and ABT an Administrative Fee of $50.00 per winning lot. EMAILS: Any Bidder who registers for an Auction agrees to accept e-mails from the Attorney and AmbroseBauer Trains notifying them of the date and time of the Auction and any specific information regarding the conduct of the Auction. An Auction is defined by e-bay as any e-baylive auction conducted over a five week period. Once the period is over, no e-mail will be sent to a non-winning Bidder unless that Bidder signs up for another Auction or became a high bidder on any lot offered at such Auction. A Bidder agrees by registering that they have no right to "unsubscribe" from such e-mails during this limited and defined period. A successful Bidder will receive e-mails of all future Auctions from the Attorney and AmbroseBauer Trains unless they ask to "unsubscribe" outside of said five week period. If a successful Bidder desires not to receive such future e-mails by proper notice to the Attorney, the Bidder will be banned from bidding on future auctions conducted by the Attorney and AmbroseBauer Trains. COUNTEROFFERS: These are the exclusive Terms and Conditions applicable for an Auction conducted by AmbroseBauer Trains and/or the Attorney. No other offers, modifications and/or counter-offers will be accepted. Any offers, suggestions, counter-offers and/or modifications communicated at any time to either the Attorney and/or AmbroseBauer Trains shall as a matter of law be deemed to be denied. By Registering as a Bidder, the Bidder agrees and warrants that he shall not make any offers, counter-offers and/or modifications pertaining to the Terms and Conditions of the Auction, or the operation of the Auction, and the making of any such offers, counter-offers and/or modifications shall be a breach of the Terms and Conditions of this Auction.

Pennsylvania Sales Tax (Seven Percent) will be collected on all Pennsylvania Residents who do not have a valid Pennsylvania Sales Tax Resale Certificate.

Please make sure that you read and understand the Terms and Conditions of this Auction before Registering andor placing Bids. Bids may not be cancelled without prior written approval of the Attorney. Cancellation of Bids, unless done immediately after the placement of a bid with an incorrect decimal point andor amount, with the approval of the Attorney, and then re-bidding with a correct decimal point andor amount, results in a fee being owed to the Auctioneer. Do not bid just on the title of a lot, you are responsible as a Bidder to read the text of each listing and to review each picture (up to 44). You may not withdraw a bid because you later averred you made a mistake. MANY OF OUR LOTS ARE JUST EMPTY BOXES. We are limited to only providing 10 pictures of each lot on e-bay live: many additional Pictures of each Lot are available as noted in the Terms and Conditions and it is assumed that you have viewed them as our descriptions are not necessarily complete. We do not warrant the Condition of a piece: you are responsible for looking at all available photos and making your own determination as to its Condition.