Banger's Sport Shop AUCTION SALE

[ogfarmer 138]

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/

 

[Krdshrk 3,877]

Jebus.  20% Online Buyer’s Premium...  what a rip

[ogfarmer 138]

I didn't look at details, but that is really high.

[Pizza Bob 1,488]

I don't know about firearms auctions, but for fine art, 20% is pretty much the going rate.

[DaveR 42]

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.

[Krdshrk 3,877]

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...

[Zeke 5,504]

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

[JT Custom Guns 957]

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......

[oldguysrule649 397]

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.

[raz-0 1,259]

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.

[Displaced Texan 11,739]

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....

[ogfarmer 138]

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.

[Displaced Texan 11,739]

Oh holy hell....I'm flabbergasted.

[PK90 3,570]

Month? Recheck that. Also, it's because they never paid their creditors.

 

ETA: Oct '16

 

Sent from an undisclosed location

[ogfarmer 138]

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.

[tattooo 220]

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.

[SIGMan Freud 93]

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.

[Rob0115 1,105]

Prices seem high when factoring the 20% premium.

[tattooo 220]

They sure do

[njJoniGuy 2,131]

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)

[pasu0115 200]

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!

[tattooo 220]

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.

[Rob0115 1,105]

im assuming the auction house is an FFL and ships handguns from the auction to an FFL?

[TheWind 17]

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?

[PK90 3,570]

Check with SWAT Firearms or Bob's Little Sport Shop.

 

Sent from an undisclosed location

[Teky0101 6]

Anyone purchase anything at the auction?

[Rob0115 1,105]

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.

[njJoniGuy 2,131]

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.

[PK90 3,570]

Sale prices should be half of retail, maximum.

 

Sent from an undisclosed location

[Golf battery 1,223]

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.