I think he has this lot priced a bit high, but he might take $4800
http://www.ebay.com/itm/RAILROAD-BR...038420?hash=item2810b5bfd4:g:EjIAAOxy9ERSRKa3

http://www.ebay.com/itm/RAILROAD-BR...038420?hash=item2810b5bfd4:g:EjIAAOxy9ERSRKa3

7 people are watching the auction. Oy.
In the words of my wife, whenever you see a crazy auction with watchers: "They are watching because they have the same junk, and want to see if any idiots buy it, so they can list theirs!"
You have to admit, what those old-timers could build with that box of hand tools was amazing.

Before we start painting with too wide of a vintage Osborn brush here, I will simply note that there are vintage collectible tool-sets valued close to this range.
WWII tool-sets, for example, including a Corps of Engineers carpenter's kit in its original box, have fetched upwards of $1,500. And the bigger Signal Corps tool-sets such as the TE-9 in their original cases fetch much more. But they all have excellent provenance. Original markings and/or documents (often a contents label still inside the box that is dated and marked by the service, branch or corps) that can be verified by photographs, figures, and nomenclature lists in published manuals proving its authenticity and its vintage.
Moving into the civilian world, a very similar situation exists for Bell System tools and kits, which are almost as well documented.
The problem with this set isn't so much the condition of the tools as much as there is no provenance of any kind. Which RR? Which RR tool-set? And where is the documentation that substantiates its name and contents? There is no way to know if any of these tools were original to the chest or of the entire set is original to a railroad company.

This one is my current favorite in my area:
http://lexington.craigslist.org/tls/5904597843.html