Went to an auction this morning and holy crap, some people are idiots

[PeaShooter]

Went to a Bailey's auction in Noblesville this morning. There were probably 8 firearms and quite a bit of ammo from an estate. Most of the firearms looked brand new, some were in the original box, with the labels still attached, and the original receipt inside. Most went for much more than they were worth, especially when you added sales tax and 10% buyers premium, and 3% credit card fee. There was a Saiga AK new in box, unfired that went for $425, and a Henry lever action scoped 22 that went for about the same. By the time you added all the junk fees, you were over $500. I talked to the dealer who was doing the transfers and he said that the price tag on the Saiga box was for $349.

The real idiots were the ammo buyers. People paid $50 for a box of Federal 550 .22, some of the boxes of 100 .22 went for $26 each!!!!! 9mm going for $26/box, .357 went for more than that. I have recently seen these items (except the Federal .22) in Walmart at near pre-Sandy Hook prices. I also know that you could buy online for a similar price. I am not sure what these guys were thinking. I don't know if they were buying to hoard, or if they were going to try to flip it. If they were going to flip it, they were buying at retail, so I don't think that they could mark it up enough to be worthwhile?!? Oh well, I, and several other auction goers, had a good laugh at their expense.

One thing that did tick me off, though was the idiot who was inspecting a rifle and to check out the scope, he shouldered it and muzzle swept the entire crowd. I don't appreciate being muzzle swept.

 

[Dr.Midnight]

When you're a seller, auctions are a wonderful thing. You get several individuals with deep pockets and competitive juices wanting your item, just sit back and listen to that cash register ring.

 

[cedartop]

While I understand your frustration on the ammo prices, and share it, that price on the Saiga is not that bad these days.

 

[avboiler11]

Market value, how does it work?

The only thing worthwhile in the OP is the complaint about muzzle sweeping people.

 

[RUSH2112]

Last Auction I went to about a year ago, i scored a completely pristine, unfired Enfield, for a little over $200. Many very nice non-import market mil-surps went for dirt cheap.

 

[Snizz1911]

I haven't been to a good auction in 5 years. And I classify good for the buyer as being able to get a gun considerably less then book value. That said, it's def been a sellers market in auctions.

Heres a safety story for you. About 4-5 years I traveled a couple hours to a big auction, got there real early to check out what they had, thank God I did. I looked at a few shotguns and rifles,before getting to a nice looking Rem 700 .270 with a scope that didn't do it justice. As with all the guns I start by pointing it in a safe direction and doing a safety check.... By this time it's more just a routine because the guns aren't loaded, right? Wrong! As I rack the bolt a 270 round flys out. I was likely the first person to pick the gun up, if not someone probably would have fired a round or found the round like I did. At that point I was pretty pissed. Think of all the people handling the guns in the auction personnel that could have hurt themself or one of their staff, the people that you see pick up a gun and the first thing they do is pull the trigger... Could have been a bad day for someone. I took the gun and round to one of the firearms staff members and advised they safety check their guns first and left.

 

[Hoosierman]

The only thing worthwhile in the OP is the complaint about muzzle sweeping people.

The only thing worthwhile in your post was.... wait, there wasn't anything.

 

[BogWalker]

The price on the AK seems pretty good to me, but other than that yes, people are rather ridiculous. I never go to firearms auctions for this reason.

 

[Mark 1911]

Yeah, looking down the muzzle of a gun has a way of spoiling the fun. No thanks.

 

[marv]

I sincerely hope those idiots come to my estate auction.

 

[threedhuntr]

The only thing worthwhile in your post was.... wait, there wasn't anything.

 

[Rexmage]

Every auction I go to is hot or cold. Either the stuff goes for way over its actual value (compared to say buying it in a store) or way way way under to the point you almost hope they aren't counting on the proceeds to pay for something like final expenses.

 

[tv1217]

I concur with the others that the price on that Saiga is actually a pretty good deal.

 

[Butch627]

I once went to an estate auction for a couple who had lead a very modest life and died in their early 90's. Like the couple all of their possessions were very old and worn out. Our families were very close for 2 generations and I went hoping to buy something as a rememberance of the wonderful times I spent with them. The prices they got for the must mundane worn out broken items was beyond belief to me. I asked one of the auction people about the prices and he told me that most of the people bidding were representing drug dealers and it was a way to launder money.


This auction happened about 3 years ago. A couple of examples are, a 5k generator that I had sold to them 15 years ago for 250 went for close to 500 and a clearly worn out and broken front tine rototiller went for over 400. Those items would never fetch that price on craigslist or at a flea market.

 

[LarryC]

The ONLY time I have ever seen decent prices (at or below current retail) on firearms at auctions was when they were incidental to the sale and only 1 or 2 were offered. At every sale I have attended where multiple firearms were offered, the firearms sold for higher than normal GS prices at the time. I have seen common firearms - Mossberg 500's, single shot 12 gage JC Higgen's and other nondescript brands, old S&W break open handguns in poor condition (no antique value) sell for far above market value - sometimes twice as much. Seems like people that do not go to gun shops or have any idea of current value purchase these for whatever reason. I no longer attend any auctions that advertise firearms and haven't for a few years!

 

[Gunaria]

I asked one of the auction people about the prices and he told me that most of the people bidding were representing drug dealers and it was a way to launder money.

MFQOTD. I think someone might have just been yankin your chain.

 

[AtTheMurph]

The only thing worthwhile in your post was.... wait, there wasn't anything.

No, the only thing worthwhile in his post was exactly what h posted. The OP had one semi-interesting thing - the muzzle sweep. Other than that why does he care what someone else is willing to pay for anything? Do we need to then have him post new topics each time he goes to the store and posts that "he can't believe that some people are so stupid as to pay $5 for a LB of bacon" and then we'll get the "I can't believe people are so stupid as to pay $100 for jeans"....

 

[Dirtebiker]

I once went to an estate auction for a couple who had lead a very modest life and died in their early 90's. Like the couple all of their possessions were very old and worn out. Our families were very close for 2 generations and I went hoping to buy something as a rememberance of the wonderful times I spent with them. The prices they got for the must mundane worn out broken items was beyond belief to me. I asked one of the auction people about the prices and he told me that most of the people bidding were representing drug dealers and it was a way to launder money.


This auction happened about 3 years ago. A couple of examples are, a 5k generator that I had sold to them 15 years ago for 250 went for close to 500 and a clearly worn out and broken front tine rototiller went for over 400. Those items would never fetch that price on craigslist or at a flea market.

Yeah, because "drug dealers" spend their money on old generators and tillers. How is that "money laundering"?

 

[LEaSH]

Drug users, maybe...

 

[ilikeguns]

What I learned from this thread... There are at least two proud and somewhat defensive gougers participating in this discussion.