Why You Should Buy Firearms and Accessories at a Live gun Auction

[Maksim 1,504]

Often been asked about why and how someone can go about buying guns and accessories at a live auction. 

 

[Scorpio64 5,147]

Auctions are great fun.  I used to go to many with my mom when she was an antiques dealer.  You'd be surprised how many pieces of furniture worth thousands sold for $50 because it was painted or had some other issue that could be fixed with refinishing.   I've also seen junk worth only $50 sell for $150 because of pride.

[Pizza Bob 1,488]

I've bought a couple long guns at auction and have bid on both handguns and long guns - all this at a small auction house in PA. 

I love auction dynamics. My SO and I attended many of David Rago's Arts & Crafts auctions in Lambertville. Purchased many pieces of A&C pottery there. When a piece goes for far more than expected, once the hammer falls there is almost a cathartic release and, usually, the next piece on the block suffers. We attended one of these auctions where the catalog cover piece went for three times the high auction estimate. My SO then was able to buy the next piece at below the low auction estimate - a piece that later appraised at more than twice what she paid for it.

I spotted a rifle that I really wanted badly at the last gun auction I attended. The majority of the rifles there were milsurp and the one I wanted was a high-end lever action. I figured I stood a good chance to steal this rifle. When it came up on the block, the auctioneer held it up and said, "I don't even know what caliber this is." Simultaneously I and another bidder called out the caliber. Damn - another person who knew what it was. We ended up bidding against each other. I stopped and the auctioneer asked me if I really wanted to drop out at that point - said, you'll be sorry. I went one more $50 increment and the other bidder didn't raise the ante. Still paid considerably less than what they were bringing on GB.

Auctions are a hoot.

Adios,

Pizza Bob

[Mrs. Peel 7,157]

I LOVE auctions - but have not yet been to a firearms auction. If I combine those 2 passions, I'm convinced I could be headed straight to the poorhouse! LOL.

But, in general, that tape gave good advice - I will personally stress the importance of previews - particularly if you can hit one the day BEFORE the auction. That gives you time to go away, do your research, and set yourself a firm "max price" that you're willing to bid for each item. For me personally, I like to know what a item is worth, and more importantly, what I'm personally willing to pay - and to figure that all out in the "calm" of my home the night before the event, rather than making snap decisions in the "exciting" environment of the live auction house (the only exception to that is if it's a collectible where I already have a good body of knowledge and can just glance at it and pretty much know it's value). But, generally speaking, due diligence and self-discipline are key for auction success. Otherwise, it's too easy to get swept up! It's very addictive. Over time, you get to know the psychology of it, too - kind of like playing poker - you don't want to "show your hand" to the other bidders.

[Scorpio64 5,147]

31 minutes ago, Mrs. Peel said:

kind of like playing poker - you don't want to "show your hand" to the other bidders.

What I learned from mom.

Never be the first to bid.  Don't get excited, put on your poker face.  If you are going to bid, wait until the bidding is down to a few people, after the majority of bidders have dropped out.  Bidding early only drives up the price and could start an unnecessary bidding war.  When you are bidding against two or more people, don't counter EVERY bid, again, it only drives up the price.  Bidding later shows other seasoned participants (including the auctioneer) that you are not a noob.  Once the bidding has gone beyond what you are willing to pay, keep your hands on your lap and shut up, if you keep bidding (out of spite) to drive up the price, thinking you are going to stick it to your opponent and make them pay more, DON'T.  You will get burned.

Winning auctions is most definitely like playing poker.

[Maksim 1,504]

Did not know we have so many auction goers. =)

Great stories, thanks for sharing.