Auction houses

[marksman1941]

Does anyone frequent auction houses?

I have always heard of a couple local places but never spent the time to look into them. Looking at a recent auction, they had several serous rifles go through for pennies. Most notably, a clean ruger m77 in 25-06 sold for $500, and a clean browning a bolt in 338 win mag went for $450. Leupold gloss 3-9 and 2-7 were going for $100 a piece.

I'm on the mailing list for the next auction, and have a hunch I'm gonna get in trouble when it comes around.

 

[M1A1ABRAMS]

Does anyone frequent auction houses?

I have always heard of a couple local places but never spent the time to look into them. Looking at a recent auction, they had several serous rifles go through for pennies. Most notably, a clean ruger m77 in 25-06 sold for $500, and a clean browning a bolt in 338 win mag went for $450. Leupold gloss 3-9 and 2-7 were going for $100 a piece.

I'm on the mailing list for the next auction, and have a hunch I'm gonna get in trouble when it comes around.

Yes sometimes it works out that way & other times not so. It really depends on who's there. I quit going to a local auction to buy firearms. Because I see the same people there bidding & just running the prices up. Local dealers. Trying to up sell their stuff. Between each other. I have seen used Savage Axis go for over $500.00 add taxes & FFL fees. When you could purchase a new combo for less. They are good at taking advantage of the unsuspecting. Now on certain reloading components & guns you may fair out well. Just know what you're buying & willing to spend. Timing is everything. And don't forget you're usually buying used products. Examine things well. And it never hurts to go the day before & look.

 

[marksman1941]

Yes sometimes it works out that way & other times not so. It really depends on who's there. I quit going to a local auction to buy firearms. Because I see the same people there bidding & just running the prices up. Local dealers. Trying to up sell their stuff. Between each other. I have seen used Savage Axis go for over $500.00 add taxes & FFL fees. When you could purchase a new combo for less. They are good at taking advantage of the unsuspecting. Now on certain reloading components & guns you may fair out well. Just know what you're buying & willing to spend. Timing is everything. And don't forget you're usually buying used products. Examine things well. And it never hurts to go the day before & look.

That's a fair point. I didn't think of local ffls going to them, but I'm sure many do.

The 18% auction fee and the $35 transfer fee certainly changes the end price a fair bit as well, depending on the deal. I'll have to peruse the next one and see what seems feasible and what isn't.

This auction house has an online portion which is handy, but also opens the door for more folks to watch and ride the gavel if they're so inclined to do so

 

[levers4life]

We've run an auction house for over 30 years. We do online auctions exclusively now. Occasionally there are bargains. Generally speaking, if it's worth money, it brings money. People go to estate auctions for three reasons. Looking for a bargain, getting something you can't get anywhere else or just being nosy.
A good reputable auctioneer will not allow "dealers" or anyone else to run up bids at their auction. Honesty and integrity keep you in business and keep buyers coming back for years.

 

[M1A1ABRAMS]

We've run an auction house for over 30 years. We do online auctions exclusively now. Occasionally there are bargains. Generally speaking, if it's worth money, it brings money. People go to estate auctions for three reasons. Looking for a bargain, getting something you can't get anywhere else or just being nosy.
A good reputable auctioneer will not allow "dealers" or anyone else to run up bids at their auction. Honesty and integrity keep you in business and keep buyers coming back for years.

You forgot the FOOD. Sometimes this is all I buy. And a happy camper most of the time for it.

 

[Lee7588]

I look at some local but the fees put the cost above retail. I don't think this is true for all places but for my area it definitely is.

 

[74honker]

Yes sometimes it works out that way & other times not so. It really depends on who's there. I quit going to a local auction to buy firearms. Because I see the same people there bidding & just running the prices up. Local dealers. Trying to up sell their stuff. Between each other. I have seen used Savage Axis go for over $500.00 add taxes & FFL fees. When you could purchase a new combo for less. They are good at taking advantage of the unsuspecting. Now on certain reloading components & guns you may fair out well. Just know what you're buying & willing to spend. Timing is everything. And don't forget you're usually buying used products. Examine things well. And it never hurts to go the day before & look.

This right here. Sometimes you get lucky and sometimes not.

 

[BigDon]

How about on the Sell side? Is auction house or listing directly - like on here maybe - the best route?

 

[marksman1941]

I would think listing here for single items would be more effective. You're not losing any money to the auction house that way. If you're selling a whole estate or a collection, an auction may bring in more for less work.

 

[ATH]

I did one online estate auction, have watched a couple more. Generally if they go to an auction house they seem to be large collections dominated by military collectibles, not sportsmen. The ones I have been to had very few R700/Savage rifles.

I did pick up a couple 1903 variants and a Garand. Early in the auction they go for every penny they are worth. What I found is that when there are 12 1903s and 8 Garands in the estate, you're best waiting until the high rollers have gotten their gun and waiting until the last couple of each kind. I ended up with a pieced together but fully functional Garand I didn't intend to buy because I put in a bid thinking I'd never get it for that, and then nobody else bid. It was the last one in the sale.