Crazy Auction Prices

[Aaron.F]

I attended a gun auction last night in mid-Michigan and I am reminded why I do not go to them. The prices were crazy high, like I thought I should by guns on Gunbroker high and resell.

Here are a few of the examples:
-Savage 99c in 308, $2000
-Weatherby Vanguard in 25-06, $1200
-Marlin 25M in 22 mag, $700
-Rem 700 BDL in 308 with Leupold VX II, $3300
-Rem 700 BDL in 7 Mag stainless with scope, $2500
-Rem 700 BDL in 223 stainless with scope, $2800

There were probably 350 people there bidding on about 150 guns. I left 1/2 way through though, as it was taking too long and to rich for me.

 

[dailordasailor]

at those prices, i have some guns id love to sell...

 

[WillMFerguson]

Dang! I just sold a Rem 700 on GB. I should have sent it over to MI.

 

[Hogpatrol]

FTF or FFL background check auction?

 

[JimP]

Online auctions are bad enough but people get caught up in ones where you are there in person. Plus they haven't done their homework on just how much a item is if they bought it retail.

You also have to look if it is for a non profit group such as RMEF, Ducks Unlimited, and others.

I did get caught up in one years ago and ended up paying $50 over retail for a RMEF Ruger #1 in 270 Weatherby.

 

[Siennacoyote]

I’ve done a few auctions lately and many were going above retail for new . I was told it was because of Amish bidders but I don’t fully understand why that would raise it so much

 

[mdwest]

Ive pretty much stopped buying guns online or at auctions...

I can find much better deals from common manufacturers like Ruger/Winchester/Marlin/Remington/etc at stores like Scheels, Academy, etc..

I can find equally good or better deals from the higher end manufacturers like Kimber, Seekins, Christensen, etc.. at Scheels, Cabelas, and OCCASIONALLY from one of the small, privately owned LGS..

Were I in the market for something like a Blaser, a nice double, a 100+ year old Londons Best, etc.. then there are dealers that specialize in those sort of things where I would have much more faith in making that sort of investment/purchase..

For used firearms, most of what I have bought over the last 10 years has been off of individuals that I personally know, people on forums like AH that I know are established and have good reputations, or have been on the "used" shelves at places like Scheels where they have sat around for a long time and the store has decided to reduce the price..

The same goes for selling... everything Ive sold in the last 10 years has gone to someone I personally know.. or someone established on a forum like AH.. etc.. where I feel like I can give them a good deal (not paying auction fees, etc)... and trust they will uphold their end of the bargain.. etc.. while I at the same time dont have to take a beating on the sale..

 

[Aaron.F]

No FFL’s required it was face to face long arm sales. There were a lot of Amish at the sale but the ones I talked to thought the prices were crazy high as well.

 

[Jeff505]

I ran into this phenomenon several times at live gun auctions. Rather then trying to find a good and fair price on what is available, the auction becomes a competition. I can appreciate this if the auction is a fund raiser for a good cause, however this was not the case when I saw people pay much more then a gun was worth. “I won, I won”.

 

[Hogpatrol]

Before Pennsy passed the law requiring auction FFL transfers, Amish and I suspect persons prohibited would bid over retail prices for long guns. Those transactions were considered FTF. Amish do the same with farm land auctions. Our club was trying to buy adjacent property and got outbid by an Amish.