Selling a collection

[KJQ6945]

If you want the items sold in a reasonable amount of time, Gunbroker is the answer. The only problem with Gunbroker is, if you have a new account with no rating, people will be a little reluctant to buy a $10,000 Krieghoff from you.

Take it to a local gun store that is active on Gunbroker. They will charge you for their service, but they will handle everything. You just sit back and watch the auction.

Gunbroker gives you plenty of options. You can set a reserve, set your opening bid, and the length of the auction. Want it sold next week? List it for a penny start, with no reserve. It's scary, but it will bring what it is worth.

I use Beech Grove Firearms.

 

[AmmoManAaron]

Gunbroker gives you plenty of options. You can set a reserve, set your opening bid, and the length of the auction. Want it sold next week? List it for a penny start, with no reserve. It's scary, but it will bring what it is worth.

I use Beech Grove Firearms.

Just out of curiosity, how much does Beech Grove Firearms charge for this service?

 

[223 Gunner]

I have to agree with the gunbroker crowd. And finding an individual that is active on there with good feed back.
Agree on a fee for the gunbroker acct. holder. And the most money will be netted by not being in a big hurry to get all the money at one time.

 

[KJQ6945]

Just out of curiosity, how much does Beech Grove Firearms charge for this service?

Honestly, I'm not sure. I believe it a percentage, but it's not unreasonable.

I've used them numerous times. If I'm selling an HK 93, or something similarly priced, it's going on Gunbroker for a penny start, with no reserve for a one week auction. I'll have a check in my hands within 2 weeks, and it gets a national audience of people that are searching for it. Lots of detailed pictures, and it will bring what it's worth, every time, maybe more. Bidding wars are a real thing.

 

[88E30M50]

Lots of good info to pass along. I appreciate all of the advice here. I’ve not been able to see these myself and it’s not likely that I will, but it sounds like there are a lot of options for the guy.

Again, I appreciate all of the help.

 

[two70]

You have received a lot of good options but one that is reasonably close but hasn't been mentioned yet is Jaquas' Fine Guns in Findlay Ohio. They specialize in high end shotguns and offer consignment services. It'll be hard if not impossible to beat the Gunbroker though for receiving top price with minimal fees.

 

[PGRChaplain]

Maximum exposure and most money for the Seller is Gunbroker.

 

[drm-hp]

I have used Jaquas' Fine Guns in Findlay, Ohio in the past, both buying and selling.
I always left feeling as though I was not taken advantage of when selling, felt I received a fair deal when buying.

Doug

 

[henry0reilly]

I've been seriously considering sending just a couple or 3 of my high value guns to Locust Fork, Alabama. Casey McKay takes 10% of the net but has a huge following for her penny start auctions on gunbroker. mckaygunsales@gmail.com

[url]https://www.gunbroker.com/All/search?Sort=13&IncludeSellers=618902&PageSize=48[/url]

 

[two70]

I've been seriously considering sending just a couple or 3 of my high value guns to Locust Fork, Alabama. Casey McKay takes 10% of the net but has a huge following for her penny start auctions on gunbroker. mckaygunsales@gmail.com

https://www.gunbroker.com/All/search?Sort=13&IncludeSellers=618902&PageSize=48

Penny starts don't make a lot of sense to me on high end items unless you just have to sell something fast. The vast majority of the early bidders/watchers are not going to stick around once the price exceeds their ability to complete the transaction and the serious bidders will be there just the same with a more substantial but still below market value start to the auction. Better to start the auction at 90% of the market value than pay someone 10% to pursue extra risk on your behalf, IMO.

Penny starts make more sense on moderately priced items where competition between several bidders can drive the price higher than it might otherwise go.

 

[KJQ6945]

The reason for the penny start, and no reserve is, you want people to be watching your auction.
As a buyer, everybody wants a deal. As a seller, you want your auction on everybody's watch list. Multiple bidders are what prevent buyers from stealing things.

If you start an auction at your perception of 90% of the value, how many people will ignore it? Less traffic is how you get a deal as a buyer, not as a seller. If you sell if for 90%, and pay somebody 10%, you're getting about 80% of the value. That's not a win.

 

[indy1919a4]

Also an auction with a high reserve and a high starting price is not an auction, it is just selling and selling at the price set by the owner which may or may not reflect the actual price of the item... An Auction should start at the zero and let the crowd decide the end price. Then those at the Auction know that the price reflects true demand at that moment. Just like Norma Desmond almost said... "You see, this is my life, it always will be, It is about the Auctioneer, the item and those wonderful people out there in the dark"

 

[two70]

The reason for the penny start, and no reserve is, you want people to be watching your auction.
As a buyer, everybody wants a deal. As a seller, you want your auction on everybody's watch list. Multiple bidders are what prevent buyers from stealing things.

If you start an auction at your perception of 90% of the value, how many people will ignore it? Less traffic is how you get a deal as a buyer, not as a seller. If you sell if for 90%, and pay somebody 10%, you're getting about 80% of the value. That's not a win.

You want your auction on the watchlists of several people that can actually bid and pay the full amount of an items worth, the ones just looking for a steal because of the extremely low start are irrelevant. Again a penny start may make sense if the item being auctioned is of moderate value such that a lot of the watchlisters could actually afford to buy it but for any item that should sell for several thousand dollars you are taking unnecessary risk for little to no gain. Anyone looking for and actually prepared to buy a several thousand dollar item is going to be just as interested in an item listed at 90% of several thousand dollars, though if it were me I would start it for closer to 70-80%.

If you sell for 90% minus GB fees you are coming out no worse than paying someone 10% to list a penny auction for you plus the GB fees and you are incurring a lot less risk. You might make out marginally better by listing a penny auction yourself but you are still incurring unnecessary risk for little gain.

 

[two70]

Also an auction with a high reserve and a high starting price is not an auction, it is just selling and selling at the price set by the owner which may or may not reflect the actual price of the item... An Auction should start at the zero and let the crowd decide the end price. Then those at the Auction know that the price reflects true demand at that moment. Just like Norma Desmond almost said... "You see, this is my life, it always will be, It is about the Auctioneer, the item and those wonderful people out there in the dark"

Very, very few live auctions start at zero (without a reserve price), most start at or near full estimated value. The bidders always determine the end price regardless of the start price. The start price only determines the maximum risk for the seller, the number of bidders willing and able to pay the full worth or more of an item determines the selling price regardless of the starting price.

A zero/penny start is potentially a good way to sell a $500 item for $600 or an $1000 item for $1200. It is also a potentially a good way to sell a $5000 item for $3500. The likelihood of selling a high value item for a low price is always higher than the likelihood of selling a low value item for a high price.

 

[1775usmarine]

On any online auctions if I did my research I will place my highest bid and let it ride. Unless I really want it I will hen play it by ear. That's what I like about GB and Ebay just set it and forget it.

 

[indy1919a4]

On any online auctions if I did my research I will place my highest bid and let it ride. Unless I really want it I will hen play it by ear. That's what I like about GB and Ebay just set it and forget it.

Any early bids always work against you.. Think about it an auction is 7 days long.. You place a generous bid early.. others bid it up and then lets say 2 days out you are in the lead near the upper end of your bid.. This is just you escalating the bid. Others may see your high bid and say this is outrages.. Then they take a second and 3rd look that maybe it is not so outrages... (you know the frog in the slowly heating water theory).. But if you save your fire till the end and dump it in all at once you ran under the radar and just maybe you may Shock and awe the other bidders.. and in this case all you need is 15 mins of shock to win.

I.E.. There are several rare guns I have bid on and lost.. and said well thats to much in the time.. But then later after the auction one laments maybe I should have bid more.. because you have never seen another...

 

[1775usmarine]

Any early bids always work against you.. Think about it an auction is 7 days long.. You place a generous bid early.. others bid it up and then lets say 2 days out you are in the lead near the upper end of your bid.. This is just you escalating the bid. Others may see your high bid and say this is outrages.. Then they take a second and 3rd look that maybe it is not so outrages... (you know the frog in the slowly heating water theory).. But if you save your fire till the end and dump it in all at once you ran under the radar and just maybe you may Shock and awe the other bidders.. and in this case all you need is 15 mins of shock to win.

I.E.. There are several rare guns I have bid on and lost.. and said well thats to much in the time.. But then later after the auction one laments maybe I should have bid more.. because you have never seen another...

Most of my wins were run of the mill 3rd gen Smith's. I know what the market value is and won't go higher unless the condition is better. Then again as a new dad in his early 30's with a wife and career I dont have the time I use to to watch listings as close. Now it's more of watch the items to see what they go for vs what I paid months or years back. I've had plenty of close calls where I did what you said and found myself like those in estate auctions almost paying double what its worth and luckily wasnt stuck holding the bag.

 

[indy1919a4]

I've had plenty of close calls where I did what you said and found myself like those in estate auctions almost paying double what its worth and luckily want stuck holding the bag.

That Awesome, good for you, because as that great 20th century philosopher said "A mans gots to know his limitations"..

 

[1775usmarine]

That Awesome, good for you, because as that great 20th century philosopher said "A mans gots to know his limitations"..

More like what the boss says you can spend.

 

[KJQ6945]

You want your auction on the watchlists of several people that can actually bid and pay the full amount of an items worth, the ones just looking for a steal because of the extremely low start are irrelevant. Again a penny start may make sense if the item being auctioned is of moderate value such that a lot of the watchlisters could actually afford to buy it but for any item that should sell for several thousand dollars you are taking unnecessary risk for little to no gain. Anyone looking for and actually prepared to buy a several thousand dollar item is going to be just as interested in an item listed at 90% of several thousand dollars, though if it were me I would start it for closer to 70-80%.

If you sell for 90% minus GB fees you are coming out no worse than paying someone 10% to list a penny auction for you plus the GB fees and you are incurring a lot less risk. You might make out marginally better by listing a penny auction yourself but you are still incurring unnecessary risk for little gain.

This is how I can pick up stuff below wholesale. By all means, do it your way.