Based on the photographs and information provided, the subject of this appraisal is a pre-war period (1901 to 1942) O-Gauge Lionel Train set. The Locomotives' production years spanned from 1934 to 1937. The condition based on photographs is fair to good used condition, with surface rust, scratches and paint nicks noted. The pieces included in the set and their corresponding Fair Market Values in USD are as follows:

- one #1681E Locomotive in red: $75 to $100
- one #1689E Locomotive in black: $50 to $75
- one 1689T tender (coal car): $10 to $15
- one #1680 Tank Car: $10 to $15
- one #1679 Boxcar, yellow: $20 to $25
- one #1682 caboose: $5 to $10
- one transformer: $5 to $10
- three non-Lionel Hornby Series assorted cars: $15 to $30
- assorted non-Lionel miniature figures, gas pumps, clock and crossing gates: $10 to $20

Combined Fair Market Value of this set (a pre-auction estimate) falls in a range of $200 to $300 USD or A$325 to A$500.