Ok someone explain this to me

[Ruger45]

This gun http://www.gunbroker.com/Auction/ViewItem.aspx?Item=460582616 The guy has a buy it now for $6,400.00
Then he has this to say about it
YOU ARE BIDDING ON THE ITEM PICTURED BELOW AND LISTED IN THE TITLE.

RUGER BLACKHAWK IN 41 MAGNUM WITH BRASS FRAME, THIS 3 SCREW PISTOL HAS
ADJUSTABLE SIGHTS, NO TRANSFER BAR AND HAS 4.5/8 INCH BARREL, WITH WOOD GRIPS. THE
GUN IS IN EXCELLENT CONDITION AND BORE IS NICE. THEY ONLY MADE 62 OF THE BRASS
FRAMED MODELS WITH 4 5/8 INCH BARREL. REVOLVER WAS MADE IN 1972 VERIFIED BY RUGER.
BLUE BOOK SAYS 5500.00

 

[Robb Barnes]

That gun has been listed so many times on GB that I think it feels that is where it should live. It comes and goes at different prices but in my mind, it is always too high. I love 41's, I love three screws and I love brass grip frames but not enough to sell a lung to raise the money needed to buy one that has all three features. As I stated, JMHO.

 

[Ruger45]

What I don't get is why tell people that you are listing it for almost a grand more than it is worth. Providing it is right. If it is right is it really worth $5,500.00?

 

[Jim Puke]

I have no idea what the gun is worth, but plenty of guns sell for more than the blue book value...depends on who wants them. He loses nothing and stands to gain nearly a $1000...what is not to understand? It is his gun and HE is setting the value on it.

 

[9x19]

I have no idea what the gun is worth, but plenty of guns sell for more than the blue book value...depends on who wants them. He loses nothing and stands to gain nearly a $1000...what is not to understand? It is his gun and HE is setting the value on it.

Well, actually the seller is setting a price, those missing bids are telling the seller the value falls below that.

 

[Big_Redhead]

Any book is a guideline, nothing more. A gun is "worth" what a buyer and seller agree it is worth. Nobody else's opinion matters at all. If somebody buys that 41 for $6400, or $64,000, then that is what it is worth to that buyer. Obviously the gun is "worth" $6400 to the seller. Whether or not he finds a buyer that agrees with him remains to be seen. You could always choose one of the other brass-frame old model 41s listed. But wait, there are no others. I actually think he will get that price someday.

 

[Jim Puke]

Well, actually they are setting a price, those missing bids are telling them the value falls below that.

No, they do not have the gun...they do not set the price, they only set the price they will pay. The price of the gun is what the seller will accept for it.

This gun has been for sale for eons...it is obvious the owner is setting the price as I am sure he has had offers.

Remember...value and price are two entirely different things.

 

[Robb Barnes]

Today there may only be one old model 41 with a MR3-BD grip frame but day before yesterday there was this one and two others on GB. I do not think any of them sold and they have all been listed more than once.

 

[cas6969]

My big gripe with listing like that is that it drives all the prices up. I've seen it with a few gun models I follow. Someone goes to gun broker and sees one listed for $500 and thinks "Well mine's nicer than that, it's got to be worth $600-$700!" , never knowing that it's $150 too high and it's been there for two years.

There are certain rifles listed that I've been looking at since 2007. (even with the giant increase in price since then, caused in part by them, they're still not worth what they're asking)

At one point there was a Freedom Arms revolver that had been up for 8-9 years or more last time I saw it. Maybe it lasted longer, heck it may still be there.

 

[Fox Mike]

The seller sets the price. If you want it then you pay the price OR do without. I have watched one revolver on Gunbroker be re-listed literally for months and has NEVER had a bid. The 'starting price' is way above what the gun is worth. I wrote the seller and explained that the condition was NOT 'excellent' as advertised and have made a reasonable offer at the end of bidding and have been ignored.

 

[OldePhart]

"You need to sell some of those toys because we need a new car!"

"Yes dear. I've been listing them on GB for months but nobody wants them..."

 

[9x19]

Well, actually the seller is setting a price, those missing bids are telling the seller the value falls below that.

No, they do not have the gun...they do not set the price, they only set the price they will pay. The price of the gun is what the seller will accept for it.

This gun has been for sale for eons...it is obvious the owner is setting the price as I am sure he has had offers.

Remember...value and price are two entirely different things.

Edited for clarity.

 

[pharmuse]

The blue book has a lot to be desired, but I guess it is the best we have to go by. For the rarer stuff it falls short in many categories. I took a Dan Wesson 414 supermag and a smith & Wesson 610 to cabelas to get them appraised for insurance purposes. Told them I was only wanting appraisals for insurance.

They appraised the DW at $940 and the smith at $645 using blue book. I told him to not even right it up. The last thing I want is to die and have my family sell them for what the blue book says.

Of course the book can't predict what will be hot a year from now. One can look at the cowboy marlins and see how the prices of them have gone through the roof.

I was talking to another forum member about listing a brass frame. When I mentioned a penny auction he advised against it stating he had been burned in the past.

My problem is I have no trouble buying them for what I feel is a good deal, I just have trouble putting a value on them when looking to sell.

It is easy to Set a price and then keep lowering it until it sells, but if you are looking for appraisal values, it gets harder.

 

[contender]

For the OP.
It's an easy answer. The seller is looking for the person PT Barnum described.

Real world gun values are hard to keep abreast of. The Blue Book does as good as it can from the info provided to them. In fact, the RENE price guide is the same way. We rely upon information of what a gun will SELL for in CURRENT real world values. And if I'm not mistaken, the info for a lot of the Rugers in the Blue Book comes directly from our RENE Price Guide. I have filled out chet15's pricing request several times, but I will admit that I haven't for a few years as it's time consuming at a time I am usually busy. (I apologize Chad!) When Chad asks for help from us, we should give it to him, and then, he can use our info to build the price guide & pass it along to Blue Book. Then they get real world values as best as they can. But remember, by the time we get the info done, compiled, submitted, and sent to the publishers, it can be several months. Occasionally, things change.

Another way to gleen good real world values is to scan the completed gun auctions prices. The guns that actually sell. The biggest problem I see with that info, is we do not see the ones where the gun was described as "excellent, or ANIB" and the buyer pays a premium, only to return the gun because it's not as described.

Many sellers hope for a big return on something because they find out they have a gun that IS rare, or they THINK the gun they have is rare. If it is rare, then they post high asking prices, but fail to do an honest appraisal of the condition. They also hide the flaws by not providing good detailed pics. Or, the ones I love are the ones who THINK the gun is rare, because they see a SIMILAR one for sale that is rare & declare their gun is that one, or price it THINKING it's one of the rare ones.

All of the higher than normal prices are easily ignored by the informed. But we get surprised when one of them sells to the type of person PT Barnum described!

Lastly, there is a whole 'nother angle. A seller keeps a gun at the same sale price for years, until the collector market catches up with what he has to sell. I recall a NIB Hawkeye, 2 digit, (#84) that a gun show dealer kept for almost 3 years. I never had the $$$, & it finally sold. He had it priced at $1000 the whole time. Now,,, a 2 digit, NIB, goes for a lot more,,,,,,,,,,,,!

 

[Ale-8(1)]

A seller can set any "price" he wishes.

The buyer establishes the "value" . . . to him.

Free market capitalism.

 

[CraigC]

Apparently they also do not think a red insert front sight should affect originality or condition. I just imagine the kind of custom gun that could be built for the cost of a "rare collectible" like this. Hell, you could buy a factory engraved Colt SAA for that money. The guy that pays $6200 for that gun needs his head examined.

You could save two grand and buy this Colt from Nutmeg (or one like it):

 

[Ruger45]

My big gripe with listing like that is that it drives all the prices up. I've seen it with a few gun models I follow. Someone goes to gun broker and sees one listed for $500 and thinks "Well mine's nicer than that, it's got to be worth $600-$700!" , never knowing that it's $150 too high and it's been there for two years.

There are certain rifles listed that I've been looking at since 2007. (even with the giant increase in price since then, caused in part by them, they're still not worth what they're asking)

At one point there was a Freedom Arms revolver that had been up for 8-9 years or more last time I saw it. Maybe it lasted longer, heck it may still be there.

I saw this very thing happen today. A guy had an aftermarket stock he wanted to sell. He asked if X was a fair deal. I told him that I would give him X for it. Another guy said X is too little. This one on GB (factory original)is 3 times that much. The guy then went and found one on ebay at 4 times (SS factory original)his original amount. He asked if I would pay more and I refused his aftermarket stock just is not worth that kind of money to me. But who knows he might just find someone that will give him his new and improved price.

 

[mohavesam]

For the working man, there sure are a lot of other bonafide desirable guns for sale for that money!

For $5K of my money, I'm making the road trip to handle the piece, period.

 

[RugerHound]

A seller can set any "price" he wishes.

The buyer establishes the "value" . . . to him.

Free market capitalism.

Yep.. There it is. Quoted for truth!