The new rolling stock test stand at Railway Technical Research Institute has a vibration system of the rollers in the lateral direction and in the vertical direction. Using this test stand, dynamic behavior of a bogie was tested. The test stand has so far been used mainly for examination of hunting stability. However, using the experimental results of the bogie test, it is also possible to estimate the suspension stiffness and damping characteristics of the bogie. This paper deals with the method and results of this estimation. If the railway vehicle running on rail is simulated using the model and estimated value, it is expected that more accurate results on vehicle dynamics will be obtained.