In 1988 the model railroad company Bachmann introduced the "Spectrum" line of higher quality equipment. This included more realistic paint schemes, updated motors, and better detail.
Spectrum was considered a totally different company from the regular Bachmann company. The initial offering was a GE 44 Ton Diesel. Later on, the Spectrum line expanded to include an EMD GP30, a Pennsylvania Railroad K-4 Pacific, and a General Electric Dash 8-40C.
In 1998, Bachmann introduced their Spectrum H0 scale 2-8-0 Consolidation, which was selected "Model of the Year" by the readers of Model Railroader magazine.
By 2000, Bachmann Spectrum was no longer considered a separate product and became one of the Bachmann product lines, as Spectrum was finally included in their regular catalogs.
What's it worth? Take a look at this Bachmann Spectrum price guide: sold listings for a value indication.