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I was at a gun auction in central Pa yesterday. It was a 90 gun auction from a private individual. Most guns went about like you would expect, but there were a few surprises to me.
He had 3 Rem model 7, I believe all were 243 win . On had Leupold 2-7, one a Weaver K3, other no scope. The one without a scope brought 1,400, the other 2 were 2,400. I don't know why they were that high, guess the right people wanted them.
He also had a Rem 760 chambered in 223 rem. I didn't even know they chambered them in 223. That one brought 4,000
Rem Nylon 22 smoothbore went for 3,400
The most expensive on surprised me as well. It was another 760 but it was a carbine, and chambered in 35 Rem. It was stamped carbine on the barrel. It went for 7,000 dollars! So I guess if you have. 760 carbine in 35 rem you better hang on to it!!

Thanks, Jevyod. Makes me feel better that I didn't go to that one.

Don't know if this was the case, but knowing that there are a multitude of Amish in that region, I can attest to the fact that they are willing to pay more for a gun than it is actually worth.

That was another surprise to me, out of maybe 250 people present I saw maybe half a dozen Amish and horse and buggy Mennonites. And they weren't buying the guns

That's surprising, because around here they flock to any sale that has guns. Anyway, it has been my experience that people will oten get caught up in the bidding process and pay more for something at an auction, than they would otherwise.

I quit going to auctions back during the Obama yrs, I could never buy anything as prices were always ridiculous. Went to one about 2 months back and remembered quickly why I quit. Good guns went crazy high, and even stuff that was mediocre was way too high. A old tootsie roll 30-06 with bluing wore off and the stock cut with a recoil pad added, brought $950 IIRC. That gun had no value except as a shooter if somebody needed it, and at that should've been $450 tops.

I've gotten very good deals privately in the same areas, and even at times at gun shops. Late 2020 I picked up a good condition 1979 Rem 760 in 35 Remington at a shop for $575. That gun should've been priced at $900 retail for what it was. At an auction here the same gun will bring $1500-$1700 every time, and some auctions more.

Jevyod: If YOU saw those guns sell for those amounts then that is what they were worth - "ridiculous" in some peoples opinions but that does NOT change reality!
Indeed Remington Model 7's around here sell quickly and at high prices - no matter what the venue.
Those that wish for Remington Model 7's to be available for $575.00 to $700.00 are living a pipe dream - those days are LONG, LONG gone.
Come on back Big Green - please!
Hold into the wind
VarmintGuy

I have always loved the Model 7's, and would like very much to see the new RemArms bring them back. Run of the mill Model 7's can still be found for a decent price sometimes, but the rarer ones are selling at very good prices.

I bought a 260 Model Seven stainless lately because I truly believe it’s going to really appreciate in the future.

Even if Remington makes a Seven again, they’re not making anything in 260 ever again

I went to a Sherriff's gun auction once to bid on an Ithaca Mag-10. I knew what most of the guns there were worth and what they could be bought for new. What I found odd was the cheap common guns like you could go buy at WalMart brought more used than what they cost new. The better more expensive ones were the bargains. I got the mag 10 for 225.

Auctions are poor price guides IME. Folks get their blood up and lose control. OTOH, sometimes there are nuggets to be found; ask gnoahhh.

Cabelas just had a 760 in 35 Rem and I think they wanted $599 which was about $450 more than I thought it was worth. The one thing I’ve found in the decades I spent buying and selling under my FFL is that you cannot chase stupidity. $7000 for a 760 is the definition of stupidity!

In the mid 80s I went to a County Auction in Hennepin County MN ( Minneapolis)

They were bidding off vehicles. Even the auctioneer was telling the crowd that they were crazy spending how much they were bidding on stuff... The crowd just cheered and went right on paying much more than anything was worth, even according to the auctioneers.

I've never been back to one since then.

Depends what for 760 35 Remington. They made a reasonable amount of 760 35 Remingtons from 52-67, then stopped making them. 1979 is a 1 off yr, they bring good money if in good shape.

$7000 is way more than I'd spend for any rifle, but they only made 456 of those 35 Carbines over the 30 yr span that 760's were produced. 8 yrs ago when you could still buy a 760 for $350, they were bringing $4000-$5000, this past spring one sold locally for $6000. If the world keeps turning and our current money is still in circulation, I wont be surprised if I see one bring $10,000. So in that respect as purely a investment, it's not stupidity, but rather a virtual guarantee of increased value.

I might go to a gun auction that has something special, collectable, no longer made etc. But going to one with currently made firearms is usually a big waste of time. Used stuff going for more than you could just go down the street & buy new for less.

Folks get carried away, or just don't know any better & often overbid the stuff.

We have a local gun shop that has an annual gun auction in October, prime time to sell. If you buy at the auction there is an additional 10% added for a "buyers premium", plus the 6% sales tax, plus the transfer fee. If an online buyer wins the auction, the buyers premium goes up to 15% plus the additional fees. I went once and there was an employee running the online bidding part and the auctioneer was running the in person bidding, all competing for the same gun. Who really knows if there is really an online bidder or if they are just running up the bid to get more out of you. I never went again. This same business charges $50 just for a person to person transfer.........big rip off.

I must live in a gun desert. The used gun market here has all but dried up. Can get all the Savage Axis, Ruger American, or Henry levers I want. Finding a decent affordable used rifle is next to impossible

I wont even look at an auction with a buyers premium. Very few around here ever attempt that. Also if it is a private collection sale then there is no state tax added, and of course no transfer fee. Buy the rifle and walk out, same as with a private face to face sale. Sounds good, but I can't ever buy anything at our auctions.

You must. I live in the Shenandoah Valley and have struggled to sell anything. Don’t even get calls for the most part. I think many people are just trying to make ends meet.

It’s also tax season, and people will need to pay the tax man.