Auction Prices

[dam7]

I attended an auction in Fort Wayne today and once more found the prices too high for me . I know an item is worth what someone is willing to pay for it,an an auction is a fair way to set a value on an item but when a stripped Anderson lower sells for 66$ when you can buy the same at zx guns for 50$ I don't get it. Ammunition was selling for higher than legs prices. I don't understand the thought process.

if any one attended can you advise what price the colt trooper Mk IIi nickel finish sold for? I had to leave after 3 hours

 

[Gunaria]

Auction frenzy FTW! People want what they want and don't care what they pay for it.

 

[snapping turtle]

Auctions can be funny to wAtch. I have seen a couple of bidders both wanting something towards the end try to bid each other up on anything each would bid on so the other would not have the cash to get one of the final items of the day. It was big time minenis bigger than yours stuff. I have also seen many nice guns go for less than expected because everyone wanted to bid on one of the items at the end of the lineup. I have also seen the better items sold off early and people all came for them and left after they sold.
Mid the items are going for good prices the the auctioneers are doing their job correct.

Payong one guy against another or worse the phone in bidder you can’t outbid after being there in person all day.

Once saw “old don” from don’s guns buy every item handgun wise for the first 200 guns.

 

[Robert Richardson]

It's called " winning an auction "

 

[citizenkane]

It happens most of the time. Especially if you have to pay tax and a buyers premium. I asked in the other thread, what did the Polish Eagle Radom bring?

 

[KellyinAvon]

A few years back I saw a Glock 17 Gen 3 go for $750 (plus 10% plus sales tax.) I also picked up my safe queen 1949 Winchester Model 12 at an estate auction, so you never know.

 

[voidsherpa]

A few years back I saw a Glock 17 Gen 3 go for $750 (plus 10% plus sales tax.

Had it killed a man?

 

[KellyinAvon]

Had it killed a man?

Nope, it was at the auction of the guy from Hancock County. Huge collector, his wife killed him then she committed suicide.

 

[churchmouse]

It's called " winning an auction "

Blood in the water feeding frenzy.
And keep your eye on the floor workers. They will run it up if they can.

 

[rob63]

The key to getting deals at an auction is not wanting something in particular, but simply being ready for whatever the good deals end up being.

My humorous story... I was at an auction that had about 2 dozen Japanese Arisaka bayonets. I wanted just one. There was another guy sitting near me that wanted every single one of them. Consequently, I bid against him on every one until the price got up to what I thought they were worth, but then quit. He got it in his head that I was simply running the price up on him for the fun of it and was mad as hell at me. The irony being that if he would have let me have just one, he could have had the remainder for $1 each for all I cared. The final insult for him was that there was a rifle that I was interested in, so he bid against me to run the price up on me. It reached what I thought it was worth so I quit. His reaction to me dropping out was so obvious that the auctioneer even commented on it. "You just bought something you don't want didn't you? You shouldn't bid on things you don't want." I was the one that went home empty handed and he went home with everything he bid on, but he was the one that was distraught.

 

[dam7]

It happens most of the time. Especially if you have to pay tax and a buyers premium. I asked in the other thread, what did the Polish Eagle Radom bring?

When I left they were still selling long gun ammo. They had not started on handguns yet .

Auctions are are entertaining but a minnow like me stands no chance in a pool of sharks

 

[Combsie]

If I remember correctly, the Colt sold for $775. As far as that particular auction went......OMG! Some of the examples below:

Chiappa 1911-22: $420 (I've literally bought one brand new from lgs for $189

Gen 3 Glock 19 w/ no box, no front sight and only one mag: $470

Gen 4 Glock 27 w/ one mag: $500 +/- $10

This auction wasn't far off than any of the others I've attended. I think I may be done with them for a while.

 

[dam7]

Thanks it's crazy money. Another auction this Saturday near Decatur Indiana pulling me too attend

 

[Restroyer]

I don't go to gun auctions anymore - too many people overpaying IMO. Not to offend anyone but I have noticed at the gun auctions I have attended it seems to be seniors (older gentlemen) paying more for a used gun than they could get a new one for. I mean no disrespect to them but I think they are not internet savy and are not aware of a Buds Guns or a Ky Gun Co. etc. where they could get a new version of the gun they are buying for less. I saw it this summer where a guy won an AR-15 standard Anderson version for $700 used and Sportsman Guide had the same exact gun new on sale for $499. So I think some of the gun auctions prey on the older guys lack of internet shopping experience. Just my opinion based on my brief observations.

 

[LarryC]

I don't go to gun auctions anymore - too many people overpaying IMO. Not to offend anyone but I have noticed at the gun auctions I have attended it seems to be seniors (older gentlemen) paying more for a used gun than they could get a new one for. I mean no disrespect to them but I think they are not internet savy and are not aware of a Buds Guns or a Ky Gun Co. etc. where they could get a new version of the gun they are buying for less. I saw it this summer where a guy won an AR-15 standard Anderson version for $700 used and Sportsman Guide had the same exact gun new on sale for $499. So I think some of the gun auctions prey on the older guys lack of internet shopping experience. Just my opinion based on my brief observations.

I am one of the "Old guys", however I am very aware of most firearms values. I have not attended ANY auctions for many years where firearms are prominently advertised. The only times I have seen firearms go for their value or under the normal selling price is where an auction is held where there are very few firearms are advertised.

I do agree that "gun auctions" seem to draw uninformed buyers. I have seen guns I could buy at most gun shows or gun shops for less than $100 sell for more than twice that, a few I remember were a "hardware store" branded single barrel shotgun sell for $180, when they can be bought in better condition for $60 all day long, I saw a break open S&W 32 cal, in poor condition sell for near $200 (I stopped bidding at $35), I passed one similar at a GS for $60 a few months ago. I have seen several 12 ga Mossberg 500's sell used for $20 ~$40 over new price. I had attended a few of these auctions when I finally decided it was not worth my time!

 

[femurphy77]

The key to getting deals at an auction is not wanting something in particular, but simply being ready for whatever the good deals end up being.

My humorous story... I was at an auction that had about 2 dozen Japanese Arisaka bayonets. I wanted just one. There was another guy sitting near me that wanted every single one of them. Consequently, I bid against him on every one until the price got up to what I thought they were worth, but then quit. He got it in his head that I was simply running the price up on him for the fun of it and was mad as hell at me. The irony being that if he would have let me have just one, he could have had the remainder for $1 each for all I cared. The final insult for him was that there was a rifle that I was interested in, so he bid against me to run the price up on me. It reached what I thought it was worth so I quit. His reaction to me dropping out was so obvious that the auctioneer even commented on it. "You just bought something you don't want didn't you? You shouldn't bid on things you don't want." I was the one that went home empty handed and he went home with everything he bid on, but he was the one that was distraught.

I've successfully set out to run up a bid on someone just once and it worked. We were at a general merchandise auction one time and they had boxes full of dvd's. Probably 40 or 50 dvd's per box and about 15 boxes of them. Anyhow we were thumbing thru the various boxes seeing if anything caught our interest and there was on older lady there cherry picking all of the boxes to make one box that had all the children's movies in it. She very obviously was preventing me from even looking at the titles and at one point glaring at me because I wouldn't put a kids movie down that she had missed from another box.

Once the bidding started on the dvd's they were selling for about $8 per box at least until they got to the box of kids movies she'd cherry picked. At $20 it was just her and I, I got out of it at $75 and she was highly pissed at this point. I made it a point to walk over later and let her know what a ***** she was, she of course responded by telling me what a dick I was! I told her that I was o.k. with it since it was a small price to pay to **** in her post toasties that day!

 

[femurphy77]

I did pick up an all Inland M1 carbine for $400 a couple of years ago but other than that, good deals on guns at auction are rare!

 

[boogieman]

These reasons are exactly why I have told my wife to call a certain auction company if something ever happens to me. There is a short list going to certain relatives and the rest to be sold at auction. Less hassle for her and probably the best financial option.

 

[GrinderCB]

Auctions create all sorts of price boosts. I generally take the expected value if the item were available at a regular gun store or pawn shop and add 25-40 percent to account for all the auction nonsense. Sales tax is charged in most states even though the item is presumably several times resold. Auction houses also add their premium to the final bid instead of only subtracting a percentage as their commission like they did in the old days. Then you have transfer fees, depending on where you are and how much the auction house wants to gouge you. And if you won it over the internet instead of in person, add an internet premium. On top of all that, figure on the state you're in at the time. In my former home of Kommiefornia guns would typically go at auction for 10-20 percent more than in other states. It often slays me how after I set up an item on my watch list and come back later to see what it went for it'll be 30-40 percent higher than the auction site's anticipated final bid.

 

[Libertarian01]

Auctions are more problematic as people see something they want, get excited, then fight to get it even though they are paying too much for it. They wind up whipping out their, uh, "ego" and seeing who's is bigger.

When I go to an auction I am look for something that matches two (2) criteria; #1) It is something I want, and #2) I will pay LESS for it here than I will elsewhere. In other words, looking for a LUCKY deal.

Auctioneers don't like me. I am not their friend, their buddy, or their pal. I don't give a damn if they make a profit or lose their shirt. I am there for one (1) person and that is ME. (Caveat: fundraisers are an exception -slightly.) When I bid I generally know what the fair market value is for it and I'll whack a certain percentage off of that hoping for that lucky deal. As an example I went to a gun auction in Bloomington some years ago. There was a fair straight pull Steyr rifle from WWI. At the time I could get one online for about $100, so my max bid was going to be $75. Why on earth would I want to pay the same amount that I can buy elsewhere for, unless it is a truly rare item I needed? Sure enough I bid to $75 and some other guy went to $80, so I was out. The auctioneer kept pushing, I don't begrudge him that because it is his job, but I didn't care. He got $5 more than I was willing to pay.

I try to be very unemotional (intentionally) when it comes to an auction, just because of what has been mentioned. People get their blood all hot and decide they really want something, so behave stupidly to get it. And IF you get into that kind of contest with a doofus then you could get caught up in the same thing.

Auctions should be treated like revenge - best served cold.

Regards,

Doug