>[ Since the value of goods or services is equal to the alternative,
>[ I'd say it's value is about equal to the price a skilled machine
>[ shop would charge to fabricate an equivalent.  -- Robbie

Robbie,  I think your formula for estimating value of an item is a bit
too simple.  You need to take a few other factors into account.  Most
important is the urgency of the need and the likelihood that the need
may be met within required time.

The value to someone who might want to have one some day to add to
their collection of interesting but seldom used curiosities (I know a
few people with such collections), and to someone who needs one tomorrow
for business purposes, is quite different.  If you need a 1937 Packard
Super Eight Model 1500 you could find one for a mere $36,000 without
waiting too long.  It would cost quite a bit more than that to make one
from scratch.

Also, you need to consider whether you need an exact replica for a
museum or you just want a functional equivalent.  If you want to punch
single piano rolls there are alternative designs that could be made for
far less than exactly duplicating a 100-year-old machine.

On the other side, a truly rare item may cost less to duplicate but
will be worth less to a collector.  I don't think that Leabarjan
perforators fit into this category.

Best regards,
Spencer Chase
Garberville, California
http://www.spencerserolls.com/