Went to a Gun Auction

[Loyalist Dave]

Went to a gun auction on Sunday last. I was trying to score a Japanese musket, and they had a few additional repro flintlock rifles and pistols, as well as some original BP guns, along with a plethora of modern stuff.

Now there's sales tax and if you use plastic instead of cash, there's a charge for that too.

So the Jap Bess was in good condition, not shot much judging from the frizzen. Not rusty, and only had a 3-digit serial number, so probably late 1970's or early 1980's. The guys competing with me for the musket I'd watched all morning, and they were buying guns for resale. Now true I was too, but I was trying to get it at a good price to sell it at cost to another reenactor, as the musket is one of the biggest dollar items.

I stopped bidding at $800, because with the sales tax and card fee, I was looking at $885, for a used Jap Bess.

The bidding stopped at $975, but with the tax and fee since the winner was paying with a card, the cost was $1075.00

$1075 for a used Jap Bess, which is out of production, not under any warranty, and for which no spare parts are made..., so the guy has to sell it for what, $1175 - $1275? I know retail prices for a Pedersoli are $1400 but I'd bet that sits in whatever shop or storage area for a long while as his ad on Gunbroker or some other site gets 0 bids day after day. Pedersoli's often go on sale for $1275.00 so why not wait until you can buy a still in production musket with available spare parts?

LD

 

[PathfinderNC]

Went to a gun auction on Sunday last. I was trying to score a Japanese musket, and they had a few additional repro flintlock rifles and pistols, as well as some original BP guns, along with a plethora of modern stuff.

Now there's sales tax and if you use plastic instead of cash, there's a charge for that too.

So the Jap Bess was in good condition, not shot much judging from the frizzen. Not rusty, and only had a 3-digit serial number, so probably late 1970's or early 1980's. The guys competing with me for the musket I'd watched all morning, and they were buying guns for resale. Now true I was too, but I was trying to get it at a good price to sell it at cost to another reenactor, as the musket is one of the biggest dollar items.

I stopped bidding at $800, because with the sales tax and card fee, I was looking at $885, for a used Jap Bess.

The bidding stopped at $975, but with the tax and fee since the winner was paying with a card, the cost was $1075.00

$1075 for a used Jap Bess, which is out of production, not under any warranty, and for which no spare parts are made..., so the guy has to sell it for what, $1175 - $1275? I know retail prices for a Pedersoli are $1400 but I'd bet that sits in whatever shop or storage area for a long while as his ad on Gunbroker or some other site gets 0 bids day after day. Pedersoli's often go on sale for $1275.00 so why not wait until you can buy a still in production musket with available spare parts?

LD

I’ve never been to a live auction and I’m afraid that I might loose sight of the “market value” (you kept that in mind; smart!) and keep on bidding. It’s hard to walk away from something I really like. Good on you

 

[sussexmuzllodr]

Went to a gun auction on Sunday last. I was trying to score a Japanese musket, and they had a few additional repro flintlock rifles and pistols, as well as some original BP guns, along with a plethora of modern stuff.

Now there's sales tax and if you use plastic instead of cash, there's a charge for that too.

So the Jap Bess was in good condition, not shot much judging from the frizzen. Not rusty, and only had a 3-digit serial number, so probably late 1970's or early 1980's. The guys competing with me for the musket I'd watched all morning, and they were buying guns for resale. Now true I was too, but I was trying to get it at a good price to sell it at cost to another reenactor, as the musket is one of the biggest dollar items.

I stopped bidding at $800, because with the sales tax and card fee, I was looking at $885, for a used Jap Bess.

The bidding stopped at $975, but with the tax and fee since the winner was paying with a card, the cost was $1075.00

$1075 for a used Jap Bess, which is out of production, not under any warranty, and for which no spare parts are made..., so the guy has to sell it for what, $1175 - $1275? I know retail prices for a Pedersoli are $1400 but I'd bet that sits in whatever shop or storage area for a long while as his ad on Gunbroker or some other site gets 0 bids day after day. Pedersoli's often go on sale for $1275.00 so why not wait until you can buy a still in production musket with available spare parts?

LD

Making Sense Dave

 

[Kansas Jake]

Auctions also often have a buyer’s premium too.

 

[SDSmlf]

Recently witnessed some keen eyed local bidders take a rusty 55 pound Harbor Freight anvil to just over $300 before one of them ‘won’ it. Guessing the faded blue paint and rust screamed antique.

 

[andy52]

I’ve never been to a live auction and I’m afraid that I might loose sight of the “market value” like you did and keep on bidding. It’s hard to walk away from something I really like. Good on y

That's what the sellers like to call a "bidding war." You have to know what you're willing to spend before stepping into the ring.

 

[Ditt44]

If you have the budget and the price is that near, buy new.
If you don't have the budget and the price is not too far off... wait and accrue the difference.
If you don't have the budget, just don't buy it.

Auction 'flip' logic I use is if I can't get at least $200 over my costs, I am not doing it. That dude is really taking a loss-risk on that item. You gotta know your item, current market pricing, etc. Big risk to me on a niche of a niche of a ......

edit... If there is an item that I want for myself... well, how badly do I want it vs. "need" it Then the price is going to be what I think market value is plus a bit more if it's an excellent quality.

 

[VA Hawken]

I go to a lot of auctions locally, many of which have guns for sale. Most of these use an on-line bidding platform, so you can set your max bid anytime you want to place a bid. As already noted, most auctions also have a buyer's premium, plus sales tax, and depending on the firearm (unmentionables), you've got the state fees for background checks etc. (Form 4473)

My personal rule of thumb is that I figure an additional 20% in cost, over the bid price, which works out pretty well overall, and is easy to figure on the fly. I'll also say that the vast majority of firearms that I've seen sold, are going for well above what I'd consider as the real market value. So, buyer beware when bidding. Personally, I've done better on GB than the local auctions.

 

[FlaminCrow]

Auctions are strange at times, depending on the clientele. I myself have a value in my head that I refuse to go over.
That being said, I have at one time paid too much, but that sob wasn’t taking it from me.

 

[Sam squanch]

In the days before auctioneers did background checks, I’ve seen 5 morons bid a $80 .22 rifle up to $500! I’ve seen worn out muzzleloading doubles with broken stocks and barrel separations go for $400-$800! The small out of the way sales are the best, the well advertised ones get the St. Louis antique dealers that bid sky high and have zero sense.

 

[smo]

Auctions & Casinos, only take what you’re will too spend.