[alamosaddles]

So, this morning Franksvw, myself and my lady meet up at an estate auction down by where we live. They had advertised that there would be "guns" so in hopes of finding something nice, maybe a sweet old Colt SAA or anything worth getting, we went. The "guns" consisted of oneused ruger 10/22, one used up Charles Daly O/U 20gauge with mild engraving, one Russian M44, pretty beat up and one ? Jimenez Arms ? .22 short pistol. They were charging an additional 7% sales tax, a 13% surcharge to the buyer and an additional $35 transfer fee, on top of the winning bid. Ok...so aside from there not really being anything worthwhile, the few pieces present werent looking so good anymore.

We figured that adding the "fees" they were charging, the top bid on the Ruger would have to be +/- $50, the Russian M44 can be purchased currently for some $65 bucks or so, so the bid would have to be lower than that by at least $40, the Charles Daly listed in the book for $600 at 70%, and the gun was not 70%, and well, the little .22 short didn't list at all, theres no record in the book for "Jimenez Arms". Maxed it's value at around $50 or so.


When the bidding started, we were floored at how crazy uneducated people are with prices. the Ruger sold for $205, plus tax plus 13% fee plus $35 transfer for a total of $282.86! Holy ****....Frank and I were both laughing as well as in total disbelief, I think we both stared at each other for a few seconds with the same dumb and disbelief look in our eyes.

The M44 sold for a bid of $125, plus 13%=141.25 plus tax=$151.14 plus the transfer fee for a total of $186.14.....More disbelief.

The Daly went for $620 plus fees plus tax plus transfer for a total of $791..nuts...

Then the shitty unheard of Jimenez arms, which looked like a pimps chromed up Jennings had a reserve of $200...

Needless to say, I had never been to an auction, but I certainly didnt think people were that freaking stupid.

I was offered at the end of the auction, if I wanted to "bring" weapons for the next auction they would sell them on consignment for me, and I could do the transfers and "charge" the people to do them.

Hell, I may go buy up $1000 in surplus crap from Samco, clean the cosmo off and go sell the **** off at these peoples auctions. Those of you who attend auctions elsewhere, are they all generally this off on values or is it just the Miami people that are crazy?

 

[Mouse]

I've seen some crazy **** but that's pretty far out there.
I think I'd take them up on their offer and take a few rifles in for the next auction. If you don't have any let me know I'll send you some!

 

[Lone Ranger]

I've been to maybe 3 gun auctions in my life and what you described has been my experience to a tee. Usually people will bid 25-100% over NIB retail for used guns. Can't even begin to explain it.

 

[Rory]

quick pick up a crate of m44s
call them a set... show the crate
+very rare+ sell them in pairs.


hahaha

you shoudl have at least told the buyers what they were getting after the auction... just to watch their faces.

 

[Shattered]

Alamo...

No, your Miami people are not unique. It's the same everywhere. You want to list some stuff? Go for it... probably double/triple your investment easily.

Don't know what their major malfunction is... most likely not enough tit time on mommy when born. Plus something's in the water... normal, everyday, educated(?) people go batfuck when they register at an auction. Best example is some of the major car auctions. There's one TV program where they regularly take a total bone-a-rono out of the scrap yard, restore it and auction them off. And I mean they get $55 to 80 THOUSAND dollars for some of this Kelvinator fodder....

 

[franks71vw]

It was insane guys insane, how dumb can people really be... anyways, I hope it continues cause at least its an easy way to make money lol. I think we need to make a 1919 group appearance with nyquil and start laughing when the prices start to raise lol...

 

[Dave S]

I'm looking for a 10/22 to rebuild, but there is likely no way that I'd buy one at an auction for just that reason. I'd sooner have one that was used as a golf club than to be extorted like that!

 

[jmann]

Estate auctions can be hit or miss. I once bought a 1911 pistol marked "s manafacturing company elizabeth nj" at an estate auction. The folks there thought I was really dumb for paying $600 bucks for it. I knew what it was and kept my cool. Wonder what they would say if they knew I sold it a year later for a shade under 40k. Yep it was a singer, and one of the best ones known to exist might I ad. Keep plugging, there are some deals out there

 

[Shattered]

I nabbed a pair of International Ruger 10-22's complete with original Mannlicher full length stocks for $60 apiece out of Shotgun News a few years ago. In a store's odds 'n ends barrel. Still have them, one was ruff, the other was good/very good condition.

Bahgans are where ye find'em.

 

[Roc Rat]

A few years back, I watched an HK 91 retractable stock sell for over $300,,, you could, at the time, buy them new for under $200. Ane this was an on line auction.

Auctions are auctions,, shot in the dark.

 

[blackrifles]

I've been to hundreds of auctions and estate sales in the last 10 yrs, getting anything gun-related for a "bargain" is rare, I've found some good deals and I'm not going to brag, pray for poor advertising or displays.

Auctions? I think we can all agree there's just too many brain-dead/wealthy folk attending those events, they'll run the bid up 2-3 times what it's worth, just to show their social status, it's a game to them and they want to win. By all means, if you're an FFL and want to make some serious cash, let the fools fight over YOUR "cheap" guns and smile away while they fill out the 4473s.

Estate sales, our favorites were out in the country, one lanes roads or looooong gravel driveways, makes most people nervous. Get there way before they open the place up, I ran with an antique dealer for yrs, we used to get there before daylight, even then you have over a dozen "overzealous competitors" questioning the owners, trying to get dibs on the best items. Be polite, the sellers might pull you off to the side, start pointing you to items of interest, things they know you'll treasure, just like their relatives did. They do NOT like rude/pushy individuals, they see them as opportunists.

One would think the worst weather conditions (OH/WI/MI/IL during snowstorms) would limit the amount of treasure hunters, quite the opposite, foul weather draws them in like crazy. 5 yrs ago left a VFW auction in OH during blinding snowstorm, had at least 200 people crammed into a tiny building, they were paying average of 3X what stuff was worth.

 

[UncleDad]

I just picked up a SLR-100H milled AK in minty condition at a gun auction a month or two ago for $400 ($450 with buyers premium & transfer). Its worth about twice that. Them deals are still out there...

 

[Pvt.Joker]

Just like in my sig, You can always count on humanity; it will never fail to disappoint you...

 

[N2124V]

Its educated versus uneducated. I have been to some auctions that make you question what reality the bidders are living in. I can honestly say I have only gotten one "deal" at an auction.

 

[47lincsled]

auctions

This is the whole reason people hold auctions, they know people are going to go nuts to get some thing, even if they have to pay more then NIB prices, very rarely do i see good deals on fire arms at auctions but I have found many good deals on oddball stuff that most people don't want but I do, yard sales are the best places to pickup gun deals, in places that still allow free trade, i bought a set of Jap Arisakas for $15 each, both had the mums ground off but they were complete matching number guns, but auction are just crazy, why do you think Epay is making billions!

 

[Roc Rat]

I think I've only been to one or two in my life. There was one at the local sporting goods store a long time ago after the owner has passed. He was getting pretty old and he had decided to sell off his guns, and I think it was what killed him.
He had a 200 lb anvil that I had been after him to sell to me for years,, I got there an hour after it had started only o discover that it had been sold already. They finally "found" someone to buy it for $65. I ended up getting a set of cutting and welding torch heads for $25. I still have them and use them when I have something thick to cut. I was at a welding shop last year and saw the same cutting head for sale for almost $300. One of the few great deals I've found over the years.

 

[KABAR2]

Auctions will drive the price up.... unfortunalty it has an effect on the real world....... many times prices attained at some of the larger auctions are viewed by dealers as what something is worth and price accordingly it's the same as when Fladerman's brought out his price guide..... it drove the prices up because he said it was so!
His book helped inflate prices.

 

[Flash-hider]

There's no logic to what someone will end up paying at an auction. Maybe they are trying to replace something that they had at one time and cost is no object. Could be someone is willing to pay more to an individual than to a business or large corp. or feel in a way they're helping the guy out. Maybe they know more about an items value than anyone else there. Plus, the totally uneducated about value.
I started going to farm auctions many, many years ago, with dad and grandpa, when I was too young to understand what was going on. As time moved on I learned from them to do the research as to what something is worth and then factor in what is it worth to me to own it.
Before the AWB expired, I was at an estate auction were there was a lot of shotguns, rifles,(mostly 22's), and assorted gun stuff. As I was looking things over I noticed 2 75rd. AK47 drums and figured these should go sky high. They were the second thing they offered off the table and they sold for ten dollars each. I couldn't have been more happier with my winnings. Oh yea ,they also were fully loaded with ammo.