Gun Auction.
Oakie
Member Posts: 40,519 ✭✭✭✭
Heading to a gun auction in upstate pa next weekend. It is always a great auction but, I hate the 10% buyers premium they add on. Last year I won a Remington 700 BDL in 25-06. Winning bid was 800 bucks. I ended up having to pay the taxes + 80 dollars for the 10% buyers premium. I really want to bid on one gun this time, but I just can't get over the extra 10%. The gun is a Marlin model 62, in 256 Win mag, in mint condition. You just don't find them in this shape.
What do you guys think about this 10% buyers premium???? I think that auctioneer should just charge the gun owners a percentage for the sale, not the buyers. If their was no buyer premium, I would buy several guns there.
The only time I really go to the auctions, is when I see something that Gunbroker doesn't have or is something I can't pass up. There is one model 62 on GB right now, But I think the price is way high and the one at the auction is in better shape. Oakie
Comments
I just set the top full cost in my head, shipping, taxes credit card and buyers fees, if any and go from there. I win some I lose a lot but I do not overspend what I set the value at in my head before bidding starts.
Bruce, My dad said the same thing you did. I will see if I stick to it.......LOL
Yep, what Bruce said.
Yep. That's how I buy exactly everything. Shipping cost, tax, cost of item itself, finder's fees, you name it, it gets calculated in and if that is over what the item is worth to me I don't buy it or look elsewhere.
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
10% is not bad I have been hit with 18% or more at some auctions out of state when I really want something. Doesnt matter that I hold a ffl or not.
If you consider the backside of the issue, how are you going to feel if you pass it up. This kind of thing happens to me at every gun show. I'll find what I consider a really good deal on something and it's never what I came to find and I'll walk away thinking I should go back and buy it. Here's one you'll like, you being the Marlin collector. I walked away from a 375 marlin at a gun show. The guy wanted $350. I thought if it was $275-300 I'd buy it. Just remember; you do you. And I hate buyers premiums too so I don't go where they are.
Buyer's premiums are a screw job. They DO NOT reduce the percentage they are charging the SELLER, it is just extra profit for the auction house. Friend of mine has been an auctioneer for 40+ years, and he HATES IT.
I hate it too, but just don't bid as much to make up for it.
Dumb to have them, because more fees causes people to be more careful and think about their bidding, so then they don't go crazy.
Merc
I hate the bidders premium also, but here is my take. The auctioneer keeps his seller's fee low for competition reasons. Adds the buyers premium to make a profit.
Side note, been to many auctions, most seem to have been "cherry " picked.
I don't understand how these places get anyone to sell their items.
Half of them have no idea what they're offering. Local online auctions offer one photo & the make, model & cal., if your lucky. Useless unless you can go look at it first.
13 to 15% is normal for an auction as charged to the buyers. Our local auction house will give free auctions to sellers of guns, coins and ammo, but the buyers pay a 15% commission plus the sales tax. We also have a high falutin auction house that sells a lot of sterling and art work and they are getting 18% commission after the hammer.
They are mostly estate sales and older people that have no one to pass their guns down too. The one I am going to is done by Kapps Auctions. They always seem to have several hundred firearms. Lot's of dealer come and buy most of the guns to resell in their stores. I see the same faces every time. I'm just going to this auction to spend time with family.