ogfarmer 138 Posted February 20, 2017 Remaining Bangors Inventory Auction There is 2 events scheduled 1 Online only and 1 live on site in PA. EVENT 1 Online Bidding Only Begins: Monday, March 06, 2017 at 12:00 PM EST Ends: Monday, March 13, 2017 at 8:00 PM EST http://www.alderferauction.com/auction/308952/online-only-auction-firearms/ EVENT 2 Live On-Site Auction Begins: Tuesday, March 14, 2017 at 9:00 AM EDT Ends: Tuesday, March 14, 2017 at 2:00 PM EDT Location: 501 Fairgrounds Road, Hatfield, PA 19440 http://www.alderferauction.com/auction/308563/firearms-auction/ Quote Share this post Link to post Share on other sites
Krdshrk 3,877 Posted February 20, 2017 Jebus. 20% Online Buyer’s Premium... what a rip 2 Quote Share this post Link to post Share on other sites
ogfarmer 138 Posted February 20, 2017 I didn't look at details, but that is really high. Quote Share this post Link to post Share on other sites
Pizza Bob 1,488 Posted February 20, 2017 I don't know about firearms auctions, but for fine art, 20% is pretty much the going rate. Quote Share this post Link to post Share on other sites
DaveR 42 Posted February 20, 2017 Just take it into account when bidding. Figure out the most you want to pay for an item and divide by 1.2, don't bid higher than that amount. 1 Quote Share this post Link to post Share on other sites
Krdshrk 3,877 Posted February 20, 2017 I don't know about firearms auctions, but for fine art, 20% is pretty much the going rate. I wasn't aware of that. Definitely something to keep in mind... Quote Share this post Link to post Share on other sites
Zeke 5,504 Posted February 20, 2017 Just take it into account when bidding. Figure out the most you want to pay for an item and divide by 1.2, don't bid higher than that amount.Multiply by 1.2 Quote Share this post Link to post Share on other sites
JT Custom Guns 956 Posted February 20, 2017 20% On Line for Guns is a bit high & 15% In house is a bit high I's say about 5% higher that the norm...... Quote Share this post Link to post Share on other sites
oldguysrule649 397 Posted February 20, 2017 It is Divide by 1.2. E.g. if you do not want to spend more than $1000 total, you should not bid more than 1000/1.2= $833.34. The 20% uplift on 833.34 brings you back to the $1000. Quote Share this post Link to post Share on other sites
raz-0 1,259 Posted February 20, 2017 Multiply by 1.2 No divide by 1.2. You want to pay no more than $100, with a 20% premium you divide by 1.2, which s sys don't bid over $83.33. Quote Share this post Link to post Share on other sites
Displaced Texan 11,731 Posted February 21, 2017 Whoa, whoa, whoa....Bangers is going out of business??!!!! I've been busy as hell and haven't been to SJSC in about a year, please tell me this isn't so.... Quote Share this post Link to post Share on other sites
ogfarmer 138 Posted February 21, 2017 Whoa, whoa, whoa....Bangers is going out of business??!!!! I've been busy as hell and haven't been to SJSC in about a year, please tell me this isn't so.... they closed month or more ago after a death in organization. Quote Share this post Link to post Share on other sites
Displaced Texan 11,731 Posted February 21, 2017 Oh holy hell....I'm flabbergasted. Quote Share this post Link to post Share on other sites
PK90 3,570 Posted February 21, 2017 Month? Recheck that. Also, it's because they never paid their creditors. ETA: Oct '16 Sent from an undisclosed location Quote Share this post Link to post Share on other sites
ogfarmer 138 Posted February 22, 2017 Month? Recheck that. Also, it's because they never paid their creditors. ETA: Oct '16 Sent from an undisclosed location I said "a month or more ago". So that could mean 2,3,4,5,6,7,8 months. I don't know specifics or care. I only seen posts on here about a death and closed posted about it quite infrequently. Quote Share this post Link to post Share on other sites
tattooo 220 Posted February 22, 2017 As soon as this gets squared away a new shop will finally be able to get into the space.....the convenience factor as a range member us huge. Quote Share this post Link to post Share on other sites
SIGMan Freud 93 Posted February 26, 2017 That explains where the firearms are going. There's an auction for the rest of the (non-firearm) store inventory, which is open to the general public: http://www.comly.com/auction/308473/bangers-sport-shop-store-inventory/ Damn shame about Banger's. Really nice people. Quote Share this post Link to post Share on other sites
Rob0115 1,105 Posted March 13, 2017 Prices seem high when factoring the 20% premium. Quote Share this post Link to post Share on other sites
tattooo 220 Posted March 13, 2017 They sure do Quote Share this post Link to post Share on other sites
njJoniGuy 2,131 Posted March 14, 2017 Rescheduled for Thursday 3/16 due to the storm As far as the high prices go, unless some a'hole bids the auction house's opening price, the auctioneer will be just about forced to start the bidding at a much lower price due to the fact that this sale is for the benefit of the bankruptcy trustee, whose goal is to liquidate everything so that there is cash to pay out to the estate's creditors. The Trustee does not want the merchandise. He only wants CASH. So if your goal is to actually buy some of these items at reasonable prices, DO NOT bid until the opening price is lowered (to bring the actual sales price down to earth, remembering to take the 20% Buyer's Premium into account) 1 Quote Share this post Link to post Share on other sites
pasu0115 200 Posted March 14, 2017 Yes, sometimes at auction, you see insane prices, people bidding high retail prices and then having the buyers premium of 10-20% added on top of that. Pretty tough to get a bargain at an auction! Quote Share this post Link to post Share on other sites
tattooo 220 Posted March 14, 2017 Rescheduled for Thursday 3/16 due to the storm As far as the high prices go, unless some a'hole bids the auction house's opening price, the auctioneer will be just about forced to start the bidding at a much lower price due to the fact that this sale is for the benefit of the bankruptcy trustee, whose goal is to liquidate everything so that there is cash to pay out to the estate's creditors. The Trustee does not want the merchandise. He only wants CASH. So if your goal is to actually buy some of these items at reasonable prices, DO NOT bid until the opening price is lowered (to bring the actual sales price down to earth, remembering to take the 20% Buyer's Premium into account) You are absolutely correct. Quote Share this post Link to post Share on other sites
Rob0115 1,105 Posted March 14, 2017 im assuming the auction house is an FFL and ships handguns from the auction to an FFL? Quote Share this post Link to post Share on other sites
TheWind 17 Posted March 21, 2017 Anyone know about those of us with guns there? I have a S&W 59, that I have been too busy working 80 hours of a week to pick up? Quote Share this post Link to post Share on other sites
PK90 3,570 Posted March 21, 2017 Check with SWAT Firearms or Bob's Little Sport Shop. Sent from an undisclosed location Quote Share this post Link to post Share on other sites
Teky0101 6 Posted March 24, 2017 Anyone purchase anything at the auction? Quote Share this post Link to post Share on other sites
Rob0115 1,105 Posted March 26, 2017 I felt that everything was expensive. There's a 20% auction premium and for pistols 44 bucks shipped to,your FFL then transfer and NICS -- it really adds up. Quote Share this post Link to post Share on other sites
njJoniGuy 2,131 Posted March 27, 2017 If, as I expected, the auction was a financial bust for both the auction house and the bankruptcy trustee, I foresee the trustee trying to unload the whole shebang at wholesale in order to recover something from the bankrupt party's assets for the benefit of the trustee and the unfortunate unsecured creditors (who will be paid last, and only pennies on the dollar, for that matter) Long sentence, I know Bottom line: If you were an unsecured creditor owed money from Bangers at the date of bankruptcy, you're most likely fooked out of most of it. 1 Quote Share this post Link to post Share on other sites
PK90 3,570 Posted March 27, 2017 Sale prices should be half of retail, maximum. Sent from an undisclosed location Quote Share this post Link to post Share on other sites
Golf battery 1,223 Posted March 28, 2017 Anyone know if it was a buyers and sellers premium. Or just buyers? I figure they maybe got 60-80k If that. Got ppq m1 mags for about 16$ ea. Quote Share this post Link to post Share on other sites