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I was at a local estate auction today that had all kind of stuff. They had a few items consigned. I mainly went to bid on a truck but they had a few guns that I thought I might take some particular interest in. The auction was a no tax or buyers premium kind if auction. Anyways just want to go on a rant about why people bid so much on guns an an estate auction or any auction period. This auction was in a smaller town also not a huge city or anything.
The one gun which I had some interest in was a rem 700 lss. Laminated stainless steel in 300 mag. It was a very beautiful gun. It was the old style I believe. It sold for $650 to the guy who owned it. Apparently the auctioneers allowed people to bid on their own guns, which I think is pretty sad and wrong to do to a person. I honestly would have got the gun for $500 probably. It has a Simmons whitetail scope which isn't nothing special. After the bidding ended on the gun he came over to me and ask if I would give $675 and it sold for $650. He said it was his gun and he was wanting 700 out of it but then told me he would take 650. This pissed me off pretty badly especially to know that the guy that owned the gun was running up the bid on me . Anyways I think he had to pay the auctioneer 10% I believe or maybe he didn't have to he could have been buddies with him I don't know. But after this I was pretty much so pissed that I was ready to leave.

Here are some of the price on the other guns that I remmeber that I have no idea why people were bidding so much. I don't know if they know what they are worth or what.

Rem 742 30-06. $650
Mossberg 715t 22 $450 ($229 at Walmart) not to mention I've had mine for sale for a month at the local flea market for $225)
Mossberg 835 with some turkey shells like 9 boxes they were like $15-20 at walmart. And had a leupold shot gun scope worth about $150 used on it. Package sold for $675

Stevens crackshot 22 $525

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Why do you think they auction them? I have an auction house 1 1/2 mile down my road. It is always surprising to see what goes high, and what doesn't.

They auctioned off a drilling that was maybe worth $1,100.00 for $2,400.00, and at the same auction very nice Colt Lightning revolvers went for about $300.00 average. shocked


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It's fine with me when the guns go high I just won't bid, but it's a different story when the guy who owns the gun is bidding against me. That's starts a whoel new fire

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You have to absolutely know what you are doing before getting a bidders card at those auctions.

I have seen more people lose more money on what they "thought" was a good deal at an auction. And buying old guns in general.

P.T. Barnum was right.


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My dad passed earlier this year and his estate auction is coming up in a few weeks. All his guns, and other belongings for that matter, are getting auctioned off. I will pay whatever it takes to bring the ones I want home! Honestly, I can see how this happens.


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Originally Posted by RickyBobby
My dad passed earlier this year and his estate auction is coming up in a few weeks. All his guns, and other belongings for that matter, are getting auctioned off. I will pay whatever it takes to bring the ones I want home! Honestly, I can see how this happens.


I hate to ask, and don't want to pry, but how was it that wasn't taken care of before it got to the auction stage of the game?


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Poor to no estate planning is my guess.


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Originally Posted by rockinbbar
Originally Posted by RickyBobby
My dad passed earlier this year and his estate auction is coming up in a few weeks. All his guns, and other belongings for that matter, are getting auctioned off. I will pay whatever it takes to bring the ones I want home! Honestly, I can see how this happens.


I hate to ask, and don't want to pry, but how was it that wasn't taken care of before it got to the auction stage of the game?


It just wasn't ... don't know what else to say. Too many siblings involved and it's just easier, I guess, this way. No skin off my back ... I will buy them!


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Originally Posted by RickyBobby
Originally Posted by rockinbbar
Originally Posted by RickyBobby
My dad passed earlier this year and his estate auction is coming up in a few weeks. All his guns, and other belongings for that matter, are getting auctioned off. I will pay whatever it takes to bring the ones I want home! Honestly, I can see how this happens.


I hate to ask, and don't want to pry, but how was it that wasn't taken care of before it got to the auction stage of the game?


It just wasn't ... don't know what else to say. Too many siblings involved and it's just easier, I guess, this way. No skin off my back ... I will buy them!


I was lucky in that regard.....1 of 6, but before he died my dad willed all of his guns to me. When his father died, one of his brothers ran off with all of the guns but two that my stepgrandmother hid for my father. I have those now...a 1902 springfield and remington 5 auto from the 30's. Apparently some of the ones pilfered would be worth serious money.

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That wasn't an auction, it was a fleecing.


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I don't expect anything for free in life anyway. I'm almost proud to get to buy them ... it kinda proves how much they mean to me!


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Quote
Rem 742 30-06. $650

There's a sucker born every minute
I hope they at least kissed him

Last edited by Snyper; 09/20/14.

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Originally Posted by RickyBobby
Originally Posted by rockinbbar
Originally Posted by RickyBobby
My dad passed earlier this year and his estate auction is coming up in a few weeks. All his guns, and other belongings for that matter, are getting auctioned off. I will pay whatever it takes to bring the ones I want home! Honestly, I can see how this happens.


I hate to ask, and don't want to pry, but how was it that wasn't taken care of before it got to the auction stage of the game?




It just wasn't ... don't know what else to say. Too many siblings involved and it's just easier, I guess, this way. No skin off my back ... I will buy them!


used to help out a guy that held auctions, actually ran into this a couple time where had nothing to do with planning or anything else....the heirs decided to sell EVERYTHING and divide the proceeds up equally, if someone wanted something specific they would just buy it at the auction....wasnt common but in the times i helped i ran across it twice....

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My friends gun store auction the guns went crazy high. Hi Point pistols brought 4-450. I think some people are determined to buy something and when what they want goes to high they will pay to much for something that they can afford. Now the small stuff like primers, bullets and powder went cheap. Bought RE17 for 7 bucks a pound got cci magnum small rifle and small pistol for 10 bucks a thousand. Cleaning rods got a couple for 5 bucks each. This was before the mad rush a couple of years ago. Worked out well for me as I havent had to pay the high prices on powder or primers. Seems like the better deals on guns were the more expensive ones. Not as many bidders on those.


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Originally Posted by rockinbbar
Originally Posted by RickyBobby
My dad passed earlier this year and his estate auction is coming up in a few weeks. All his guns, and other belongings for that matter, are getting auctioned off. I will pay whatever it takes to bring the ones I want home! Honestly, I can see how this happens.


I hate to ask, and don't want to pry, but how was it that wasn't taken care of before it got to the auction stage of the game?


This is now common among large families when everyone wants the same few items. Auction it off, then put all the money in the big kitty and divide it up. If a family member buys it, the money still stays with the family.


You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

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I would say it is somewhat common in this area for families to put everything in a sale and then buy what they want. Proceeds are split evenly, after the labor, advertising and percentage of course. Cost of the auction sure takes a bite. I've worked many of these type sales.

Large collection of very nice firearms sold here a few years ago. Owner was terminal and the three sons could not agree on a split. The owner got fed up and watched them all sell. He split the money three ways. I believe two of the sons bought a few.

Guns usually sell high in my experience. I have seen a few "deals" though.


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I don't get that as most auctions will let you put a reserve on then pay commission what high bid was...

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Nothing sets the price (on that day) like an auction with at least 2 bidders. If the consignor wants to bid - then he sets the price. Buy, or go home - it's your choice! The seller (auctioneer) makes a bit either way. It makes no difference who the final winner is.
As a manager of a self storage facility, I've gained a pragmatic perspective on sales.


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Originally Posted by antelope_sniper
Originally Posted by rockinbbar
Originally Posted by RickyBobby
My dad passed earlier this year and his estate auction is coming up in a few weeks. All his guns, and other belongings for that matter, are getting auctioned off. I will pay whatever it takes to bring the ones I want home! Honestly, I can see how this happens.


I hate to ask, and don't want to pry, but how was it that wasn't taken care of before it got to the auction stage of the game?


This is now common among large families when everyone wants the same few items. Auction it off, then put all the money in the big kitty and divide it up. If a family member buys it, the money still stays with the family.


Want to kill an auction, have the family to start bidding ever thing up that's worth buying. If that happens I immediately leave the auction and the family can then buy up the junk and put it in a disposal. Family needs to divide up or have an auction among themselves prior to having a public auction. GW


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My experience with guns at auctions;

Crescent arms and tool company type single shot 16 gauge in 3 or more pieces= Obscene monetary value.

Why?? Because it's an "old Gun". Gotta be worth millions! It's in an auction! For christ's sake!!!


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