Gun Auctions

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sailor723

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I've recently started following some of the gun auctions located in Canada through Icollector.com (Switzers, GTA etc). I've been surprised and how strong many of the final prices have been. I've recently seen WW II P38's pushing close to $1K and a HK P7 PSP that went for well over $3k. Remember, these prices are plus a 15% buyers premium and whatever sales tax applies based on your province (another 15% for HST in my case)

Do you think it's just a case of people getting "auction fever" or is there another reason why prices seem to be higher than fixed price sales venues? Is the market actually moving up?
 
Auction fever. You need to know the market and subject intimately to make the right decision.

I've seen No4mk1 LB 1950s sold for 1300 + 15% + shipping +GST. They were supposedly un-issued, but no guarantees. While similar rifle on EE was $900.
 
I've scored a few good deals at auction, I think that's maybe due to people not knowing what the item really was worth. I've never participated in a online auction though. My presonal practice is to establish my max price all in, then subtract the tax and buyer fees. Then I have my maximum bid price. That way I can avoid auction fever.
 
Dyspnea said:
I've scored a few good deals at auction, I think that's maybe due to people not knowing what the item really was worth. I've never participated in a online auction though. My presonal practice is to establish my max price all in, then subtract the tax and buyer fees. Then I have my maximum bid price. That way I can avoid auction fever.
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Sounds like a good plan. I imagine it's easy to focus on the bid number and not the actual "all in" price
 
Dyspnea said:
I've scored a few good deals at auction, I think that's maybe due to people not knowing what the item really was worth. I've never participated in a online auction though. My presonal practice is to establish my max price all in, then subtract the tax and buyer fees. Then I have my maximum bid price. That way I can avoid auction fever.
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I'll bid online and in person, but you have to know what you are looking for. Know what something is worth, set a max and stick to it. There are deals to be had, but things get stupid. People seem to forget tax and hammer fees, and think used condition unknown is worth more than buying new at CT down the road.
 
Auction fever!

My first auction I bought a plastic hard case for $50 that retailed for about $30. Since then I've always set a maximum price the day before assuming that I'll win 75% of the auction items, then conveniently be somewhere else while the auto bid happens. Check it after the event is over. Sometimes a deal, most times no success.
 
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Strange things happen at auctions. I was at one once where a fellow was bid up to $10.00 per box of 50 Blazer .22 on a large lot. The auctioneer asked him how many he wanted , I'll take them all the guy replied. Without batting a eye the auctioneer said, we have another lot of 50 boxes would you take those too? You bet said the guy, makes you scratch your head.
 
mr.e moose said:
Strange things happen at auctions. I was at one once where a fellow was bid up to $10.00 per box of 50 Blazer .22 on a large lot. The auctioneer asked him how many he wanted , I'll take them all the guy replied. Without batting a eye the auctioneer said, we have another lot of 50 boxes would you take those too? You bet said the guy, makes you scratch your head.
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The three worst I have seen, all onsite...

$425 for a used, good condition, 870 28 inch vented rib 12ga barrel.
$475 for a run of the mill Russian laminate stock mismatched Sks. The CT 2 blocks over had matching ones for $239.
$43k for a 3 y/o F150 with high mileage. It was a run of the mill 4x4 extended cab.

Then add hammer fees and taxes.
 
As far as possible, know everything you can about the item.
Decide what you are prepared to pay, all in.
Know when to stop.
 
Gun actions are guilt free. They are the best place to recover at least some of your money on guns that for whatever reasons you wouldn't sell to a friend, trade in at a store where you regularly do business, jeopardize your trader rating on the EE or sell to someone who knows where you live and can find you.
 
Auctions are a bit of an addiction for me. I buy quite a few prohibs through them for my personal collection. It is quite true that you need to do your research and know all of the hidden fees before bidding; some of the auction sites even charge a fee for the transfers! Switzers is one of the best and actually pays the CFO to have staff complete the transfers live during the auction.
I have managed to get some really good deals, but, you have to be prepared to let an item go if the demand is higher than your top price.
 
OntarioTim said:
Auctions are a bit of an addiction for me. I buy quite a few prohibs through them for my personal collection. It is quite true that you need to do your research and know all of the hidden fees before bidding; some of the auction sites even charge a fee for the transfers! Switzers is one of the best and actually pays the CFO to have staff complete the transfers live during the auction.
I have managed to get some really good deals, but, you have to be prepared to let an item go if the demand is higher than your top price.
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I agree, Switzers has some interesting stuff. As to the pricing....well,like all auctions it depends on who is there and how much they want something that particular day.
 
About 7 years ago, I drove all the way to Bancroft in a snow storm to attend the Switzer auction, thinking that I would get deals on items due to nobody else being there. Boy, was I wrong. It was a full house. Every gun nut from Ontario it seemed arrived. I literally watched guys walk around the room dry firing and abusing the guns on the table, then turn around and pay $400 for a standard mosin nagant. Every gun there sold for more than it was really worth, and usually way more. Guys didn't know when to quit. I was there for 6 hours and it was a complete waste of time. They had a shotgun raffle where the took a deck of cards and cut them in half, gave you one half and drew the other, for $20 a card. Only it was maybe a $400 shotgun. I bid on some 22lr birdshot and won it for a deal but not considering my time. That being said, the EE on here is way closer to reality in comparison.

North
 
Google just that or ICOLLECTOR. But here is what to expect. Your bid price plus buyers premium 15%, plus 13/15 % sales tax Plus shipping and handling if your an on line bidder who needs it shipped, because they don,t do that for free. So a $400. item turns into $545. MINIUMUN to get it to your doorstep
 
WHITIEY said:
Google just that or ICOLLECTOR. But here is what to expect. Your bid price plus buyers premium 15%, plus 13/15 % sales tax Plus shipping and handling if your an on line bidder who needs it shipped, because they don,t do that for free. So a $400. item turns into $545. MINIUMUN to get it to your doorstep
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Yep. $1300 P38 anyone?
 
sailor723 said:
Yep. $1300 P38 anyone?
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Yeah, saw that.

Landsborough is another one, but I will usually hedge that their 8/10 is closer to a 6.5 or 7. Switzers I have found to be better.
Switzers I have only ever done online, Landsborough I like to go onsite to at least inspect closer on preview night if I can't go onsite the day of. I'll save the additional 5% hammer fee if i am ambitious. When you are looking at lots 40 and 640, it pays to have registered online even if you go onsite. I'll pick the rifle up onsite, then bid on the smalls from home and save half a day of sitting near the guy who had his yearly shower 364 days ago.

Can't say enough... know your prices and set a limit which includes hammer fee and taxes. It's an ok deal till they hit you with another 23-28%.

Inspect as thoroughly as you can, if you can. I brought one rifle home and it passed inspections and full takedown, other than the angled scope base tapping which I knew about before I bought it. First shot, front sight blew off. They had gone full screw up on the irons and drilled the end sight all the way through. The $125 mismatched project rifle was now going to be a $325 project rifle off the bat if the smith cut and crowned. It sat around waiting until I had time to attempt it myself, but another project came along so I tossed it back in an auction. That one actually worked out for me as I bought it in a slow auction and sold it in a busy spring auction. Made $200 after their commission on that one.

Oh, and there is a huge difference between the first of the year spring sales and every other sale.
The spring sales get buuuuuuusy. Everyone has the spring gun fever coupled with auction fever.
Sales on nice sunny days during harvest and mid summer are usually the ones with the best deals and poorest attendance. More Online bidding doesn't make them as good as they used to. You can still ride a tractor and bid online.
 
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