[Mayor Al]

Yesterday I attended another gun auction in Indianapolis with my oldest son. We arrived early to be able to inspect the guns I had earmarked to be of interest. Then sat thru the bidding on the 338 items, but did not stay for another 100 lots of ammo, archery, and outdoor stuff, so we don't know what that sold for.

I know many of you guys like to check what various guns are selling for in the market today. One way to do that is to follow the "After-Action Reports" from the major auctions.

Here is the link to the A A R for the Indy auction. I came home with 18 new 'items', 5 of which are consigment buys for a neighbor who 'restores' 22 caliber handguns for a hobby. Of special interest are the ruger prices...many of which are higher than current retail, which tells me some folks don't do their homework before shopping for a gun. The 17 % premium is for internet buyers. Attendees had to pay sales tax, but no premium.

https://www.proxibid.com/asp/Catalog.asp?aid=59999

I would appreciate any feedback you may have about the auction materials or prices. Thanks
AL

 

[Dsteele]

Wow, it really varies doesnt it? A few good buys, and a few that make you really scratch your head.

 

[Mayor Al]

I watched the Ruger 10-22's at this sale...there were 4 or 5 listed. They all went for $200 or better. Even one that was filthy, had no magazine and a cracked lens in the scope sold for $225. Funny how the Crowd Pyschology takes over where practical shopping sense leaves off.

FYI My prize buy this time...a keeper for sure, is Item #7, A 1911A1 clone. with # 198, a Smith 'N' Frame 357 seven-shooter right behind it.

 

[RRomeo]

S&W 1917 for $275.

 

[North country gal]

A little short on info, since condition is everything. Overall, though, from my experience with auctions, fairly typical.

I often see folks pay as much or more as new on current production guns.

On the old stuff, always hard to predict how prices will go. If you're bidding against a collector who is trying to fill out a collection, good luck. Same when you are bidding against someone who wants an old gun for nostalgia's sake.

Thought a few of those old Winchesters went a bit cheap, actually, but old Winchesters go in and out of style, so sometimes hard to predict. The better known Colts, as always, went for typically insane prices. The discontinued Rugers were about right, for the most part. Current production Rugers were definitely on the high side, but, then, a lot of those guns are bringing that kind of money in gun shops.

 

[RAC55]

We have a local auction house that has a gun auction usually every month or so with around 200 to 300 guns going across the block. I go quite often to see what is trending and sometimes if I feel froggy, I leap. As long as you know what you are bidding on, and set your limits, you will do OK. I have walked away with some nice pieces at these auctions, and had a lot of fun in the process. Just follow Dirty Harry's advice...you've got to know your limitations!

 

[Mayor Al]

Yep, RAC55. Doing your homework and not going nuts in a 'race' is what keeps me going back. After this one I will take the winter off to clear the decks , so to speak, and then look for some new adventures in the Spring.

Here are photos of the results of my deliberate bidding this time. I will keep the 1911 clone and the CZ 452 target 22 rifle, and maybe a handgun or two, but the rest either have been promised to interested friends or will go on Armslist shortly. The one group of 22's were bought at the request of a friend who could not attend the auction himself.

lower right is the 1911 clone- a keeper

 

[Dsteele]

HA! Nice you got the S&W 6906 I liked on the site. Ive got a soft spot for those things.

 

[Mayor Al]

DSteele
That Smith had 3 mags, night sights and a very nice holster with it. It feels good too.

 

[BlueMountain]

Was that a S&W 686 I saw? I had a Smith 586 .357 Mag with an 8 3/8" bbl and it was the sweetest shooting sixgun I ever shot. I sure do miss it. I'd love to have another one some day.

 

[James6591]

Interesting, a couple there that I would love to add to the collection.

 

[Mayor Al]

Blue Mtn,

Yeah it cost a bit more than I had planned to pay...But that Smith 686 is in LNIB condition. I have not fired it yet, but will test it out this week sometime. it is a handful, but balanced very nicely.

James , which one would you have bid on?

 

[jb61]

Nice nice collection, there are some fine aquisitions there. I wish I could attend or even find a few auctions around me. Sounds like you enjoyed yourself also, always a good thing.

 

[Mayor Al]

JB
Thanks for the comment. I really enjoy doing the homework preparing for the actual auction. For about three weeks prior to the date I monitor the catalog inventory and follow the pre-auction bidding on-line. That gets pretty intense in the final 2 or 3 days before the live auction. I don't bid on-line because ProxiBid has a pretty high buyers premium on each auction, ranging from 10 to 20 percent, plus some pretty high shipping and handling fees too.

So I build a list of guns to 'look at' when I get to the live auction. In this case I had a list of about 60 of the inventory that I might consider bidding on . I actually bid on about 30 and won the item with the highest bid on 18 or the guns. 5 of those went directly to a neighbor who collects "junk" 22's. So my take was 13, one of which is a 22 rifle for a grandson. Down to 12. I know I will keep the CZ target rifle (for awhile) and the Turkish 1911A1. So now I have to decide the fate of the other 10.

That will take two or three monthes (thru the winter) and keep me busy with the paying off the bill from this auction, before getting the urge in the Spring to do it again.

If you go to the Proxibid website, and checkout the firearms auction nationwide, you may be surprised at the locations where some are held.

The Smith 6906 pistol and the 686 revolver we the two 'big expenses this time at $550 each. But I am pretty sure I will help pay off the total by parting with them over the winter. Both have on-line sales value higher than what I paid for them.

 

[RAC55]

These are my last auction pickups...3 "Baby's"....[/COLOR]

These were my last scores at the local auction. A 1962 Browning Baby lightweight (top), A 1960 Browning Baby blued (lower right), and a Bernardelli Baby (lower left) in .22 long. The lightweight and the Bernardelli were in the original boxes...Love auctions!

 

[excess3]

winning bidder... goes thru the FFL thing, or not?

would have a big effect on what I would pay

 

[Mayor Al]

If you bid online you pay a major buyers premium (varies by auction company) plus the gun must be shipped to 'your' FFL which means shipping costs and a transfer fee at your end. Some auction companies also charge a transfer fee at their end too. So, Yes there could be quite an add-on fee to the bid price.

I use the On-line auction companies as a search for guns I might be interested in, but I do not bid on-line. I choose companies where I can 'attend' personally the live auction that finalizes all sales. The starting price on a gun is whatever the highest on-line bid is at that time. Some guns do not get a live bid, so they go out for that On-line Bid, most get bid-up by attendees.

I pay sales tax, but no transfer fees at the auction. I fill out a 4473 form, they call in the info to the Feds, and so far, my purchases have been cleared withing 10 minutes or so. I do see some buyers having delays on their approval for whatever reason, but that has not happened to me yet. One Auction company charges a flat $10 to do the paperwork with the Feds at the close of the auction...not bad, since I bought a dozen guns at that one. I attend auctions by 3 or 4 Indiana companies, and a couple in nearby Kentucky. I can take long guns home from Kentucky, that day, but must have handguns shipped to my FFL...so I don't buy Handguns at KY auctions.