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".
SELLING GUN STUFF AT AUCTION
- Thread starter Cow Town Bill
- Start date
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
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
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
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.
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.
- Location
- Okanagan Valley B.C.
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
What's unethical for one is perfectly fine for another. I'm with the auctioneer who said it wasn't kosher.
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.
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.
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.
For high end guns I agree---you establish the price and have control over its sale---there are only a few established dealers that know and sell in the secondary market---at least one is a CGN sponser.
On the other hand, if you have a lot of lower priced items such as books, dies, bullets, ammo, and various gun related stuff, a good Auctioneer can sell a pile of stuff in a timely fashion---selling off an estate is a good example.
As has been stated before, high end guns can also be sold using the EE, gun shows, your local gun club and collecting buddies.
Donny Fenn1
CGN Ultra frequent flyer
- Location
- East Kootenays
I've sold a bunch of stuff here and GP. I can't see a situation where I'd consign anything at a store.
Watching the last few Kidd and Switzer auctions they seem to get the best bang for buck even after fees if you don't want to sell privately.
Watching the last few Kidd and Switzer auctions they seem to get the best bang for buck even after fees if you don't want to sell privately.
Your gun , so bid on it if you wish is my take on it . Auctioneers don't like it because they want to entice more people to their auctions by promoting the outstanding buys people can get . I have sold several firearms via consignment at a local gun dealer , and they always try to get me to reduce my price ; I never do , and the gun always sells . Your gun , so you sell at your chosen price .
Licensed to kill
CGN Regular
- Location
- Peace Country Alberta
I can certainly understand the attraction of reserve bids from the sellers standpoint, however, as a buyer, if there is a reserve bid on an item, if I am AT the sale I would watch the bidding but in all likelihood the reserve is already higher than I am willing to pay at auction. IMO, if I can’t get something at auction for at least 20% below market value, I don’t bid. All too often, items in auction are there because the owner doesn’t want to sell it personally because there is a problem with it so, as a buyer, i need a cushion for sny issues that need attention. Typically, when people that put on reserve bids want market value (and set their reserve there) and just hope to get more ( hence why it is in an auction). I have no problem paying market value, I've even knowingly paid more than market value for something I really wanted, however, If I am going to pay market price it WONT usually be at an auction.
I have used an auction house in Calgary that specializes in jewellery and high end art and collectibles---unfortunately they don't do guns. They do, indeed, use reserves on most everything they sell. They post a range of prices that they think the item is worth---say $500-$1000 and $500 is the price that bidding starts. They don't accept stink bids and if your item doesn't sell it is returned without charge---or, they will put it in the next auction. They are very good at estimating the sale price of whatever they auction. I like doing business with them but they are very fussy what they put at auction.
Bill
Bill
I must be dumb or something lol
How the heck does that even work? IF you Bid on, & Win your own item at an auction lol. You are out all that money + fee's, for something you already own. ? OK, so Bid on your own item, hoping to drive the price up...sure, I've seen sh*t like this happen, but it would be a big backfire' if you actually win it. lolLicensed to kill
CGN Regular
- Location
- Peace Country Alberta
It only costs the auctioneers take but you would have to pay both buyer and seller premium. The purchase price is a wash since you would be paying yourself.I must be dumb or something lol
