SELLING GUN STUFF AT AUCTION

[9.3mauser]

General shadiness aside, don't forget that if you buy your own gun back you'll still have to pay buyer's premium ( typically 15%) and sales tax ( 13% in ON ). If' it's a high end item, you could easily wind up paying hundreds of dollars in fees, and you might be further ahead to let it go for less than what you would consider "fair".

 

[brybenn]

With respect to being outbid... Suppose an item has an opening bid of $10. I'm prepared to pay $100, but I'm not going to be around when the sale occurs. So I bid $100; that is my absolute maximum. No other bidder can see this. My bid will appear as $10. Laddie bids $15. The computer system will automatically up my bid, I will have top bid. Laddie will be told he has been outbid. This will continue until my cap of $100 is reached. At that point laddie's higher bid will become top bid. This is how the system on iCollector works. It is not the auction house managing the bidding, it is iCollector, the computerized management system.
If you are getting outbid each time you try to place a bid, it means someone has established a maximum. You are going to have to find and exceed this level if you want to place a successful bid.
Covid and online bidding certainly changed the game. Most of the time in an auction hall you were competing with someone physically present. Now, you are competing at the national or international level. The online catalogues are read all over the world. There may be serious competition.

Thanks for the explanation. First time I've come across that feature. Other auctions were not set up that way and real time history was given. This was my first time trying out a new auction house
I guess that feature saves the need to frequently check the listings

 

[claudio o]

That was well explained...put your maximum bid in and forget it, at the end see if you were the top bidder
I actually think that works well except often now when time is up and you think you won they tell you its only a "soft closing" and the auction continues for another hour...now that is a bit slimy in my book

 

[the spank]

Auctions suck, plain and simple. Why not just consign it all with a reputable dealer?

 

[Cow Town Bill]

General shadiness aside, don't forget that if you buy your own gun back you'll still have to pay buyer's premium ( typically 15%) and sales tax ( 13% in ON ). If' it's a high end item, you could easily wind up paying hundreds of dollars in fees, and you might be further ahead to let it go for less than what you would consider "fair".

You are right. I would only bid if my item was going for a rediculously low price. I have never done it but raised the question with a Auctioneer and was told it was very much improper. However, another Auctioneer told me it was fair ball with him.

 

[Arietta]

Auctions suck, plain and simple. Why not just consign it all with a reputable dealer?

There are two reasons to consign to an auction. The first is you get your money in a predictable time. Depending on the gun and the dealer a gun can linger on the rack for a very long time. The second is you can offload guns you might not sell to a friend, online where there is public feedback or consign to a store where you regularly do business.

 

[skwerl]

With respect to being outbid... Suppose an item has an opening bid of $10. I'm prepared to pay $100, but I'm not going to be around when the sale occurs. So I bid $100; that is my absolute maximum. No other bidder can see this. My bid will appear as $10. Laddie bids $15. The computer system will automatically up my bid, I will have top bid. Laddie will be told he has been outbid. This will continue until my cap of $100 is reached. At that point laddie's higher bid will become top bid. This is how the system on iCollector works. It is not the auction house managing the bidding, it is iCollector, the computerized management system.
If you are getting outbid each time you try to place a bid, it means someone has established a maximum. You are going to have to find and exceed this level if you want to place a successful bid.
Covid and online bidding certainly changed the game. Most of the time in an auction hall you were competing with someone physically present. Now, you are competing at the national or international level. The online catalogues are read all over the world. There may be serious competition.

Hey , ditto .

Most of this depends on the ethics and principals of the auction house.
I have bought from the high end (Switzer , Kidd ect.) and some low end. (no further comment0
but I have not sold.
....skwerl

 

[Mike Webb]

You are right. I would only bid if my item was going for a rediculously low price. I have never done it but raised the question with a Auctioneer and was told it was very much improper. However, another Auctioneer told me it was fair ball with him.

What's unethical for one is perfectly fine for another. I'm with the auctioneer who said it wasn't kosher.

 

[Mike Webb]

Just a personal opinion, but I think sellers should be able to specify reserve prices. I can see why auction houses might oppose this, as it would drive away a number of tire-kickers. With a reasonable reserve, the seller has an idea of what he/she might get as a minimum, and the auction house will certainly try to push above it. If it doesn't sell, it can be re-listed, and maybe adjusted. But selling way below value because of how an item is listed or when the sale takes place, is not the best advertising for auctions, as far as sellers are concerned. And without sellers, there aren't any auctions.

I have bought items at auction with and without reserves. The reserve changed the starting point, but it didn't deter me as a bidder.

I can sort of see the argument against self-bidding as a way to stop sellers from benefiting from artificially raised prices. It also carries a risk to the seller, who might win a bidding war in which they intended to lose. As to the auction house, doesn't it win either way? Maybe I don't have enough information on this to have a firm opinion.

For antiques, which is my main interest, I wish auction houses had better descriptions and provided more pertinent information. Instead, they often sell high-end items with the same inattention to detail as selling a worn-out Cooey.

Agree with this. Not that I buy much at auction but a reserve would indicate the gun is worthy of a respectable offer and not someone trying to dump a clunker with serious issues for whatever they can get. The lousy photos and descriptions for high end stuff drives me round the bend as well.

 

[tiriaq]

Maybe. But it doesn't really mean that the item is premium. Maybe the House thinks it is, maybe the House doesn't know enough to spot the warts.
Serious Houses do try to describe items accurately. But their expertise may be limited. When you consider the range of items offered, and the breadth of knowledge required to accurately describe everything, be cautious.
Often lesser items are in a utility/parts guns section. You know there may be warts.
Bottom line - do the research, know what you are bidding on.