Selling and Transferring Guns After Death

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GRAMPS 51

Buckeye
Joined
Feb 19, 2007
Messages
1,397
Location
wtn ct usa
RobinPa i have delt with two of the auction houses in Maine and was on the phone with one about 8 months ago and was told they keep about 20% of the sale i was going to put 5 guns in the sale i have also bought from both and paid 15% as the buyer in many cases the auction house will bring more in the end so you have to way it all up
Gramps
 

Biggfoot44

Blackhawk
Joined
Sep 6, 2009
Messages
821
All depends on what the firearms are , and how niche or generalized the interest in them .
 

Diabloman

Single-Sixer
Joined
Mar 19, 2022
Messages
224
Location
Ohio Territory
put you're Last Wishes in you're Will. easy peasy! I put my orders in a letter attached to my Will. My wife knows who & where! not a gunsmith's job. Only to sell!?
 
Joined
Dec 8, 2005
Messages
3,711
Location
Lemont, PA, USA 16851
RobinPa i have delt with two of the auction houses in Maine and was on the phone with one about 8 months ago and was told they keep about 20% of the sale i was going to put 5 guns in the sale i have also bought from both and paid 15% as the buyer in many cases the auction house will bring more in the end so you have to way it all up
Gramps
In my experience, the REPUTABLE firearms auctions houses are buyer premium sales. That is, the buyer pays the auction house a percentage of the selling price, that is how the auction house makes their money. Other auction houses are seller premium, meaning that the auction house does not charge the buyer anything (other than the auction price whern the gavel falls) but they charge the seller a percentage of the final price.

I personally have dealt with Poulin Auctions and they are a buyer premium auction. When the gavel falls, that amount is what Poulin pays the seller, the buyer pays the premium to Poulin, that is how they make their money.

You have to read the fine print very carefully at many firearm auction houses. The big name firearm auction houses will tell up right up front how they run their auctions and what the buyer and seller are to expect.
 

H Richard

Bearcat
Joined
Dec 9, 2007
Messages
41
Location
West Central IL
In my experience, the REPUTABLE firearms auctions houses are buyer premium sales. That is, the buyer pays the auction house a percentage of the selling price, that is how the auction house makes their money. Other auction houses are seller premium, meaning that the auction house does not charge the buyer anything (other than the auction price whern the gavel falls) but they charge the seller a percentage of the final price.

I personally have dealt with Poulin Auctions and they are a buyer premium auction. When the gavel falls, that amount is what Poulin pays the seller, the buyer pays the premium to Poulin, that is how they make their money.

You have to read the fine print very carefully at many firearm auction houses. The big name firearm auction houses will tell up right up front how they run their auctions and what the buyer and seller are to expect.
If you look pretty hard, you will find that most all "gun" auction houses charge percentage from the seller and from the buyer. The auction house will need to make around 30% total to cover their expenses and make a profit. Think about the bookkeeping, advertising, on-line auction fees for each item, boxing up and mailing (most find 60-70% of sales are now to non-local customers). Since all the auctions have a lot of low priced guns, (less than 300), and it takes the same amount of work and expense to sell a $300 item as a $5000 item. The way to judge an auction house is how many and what quality of photographs of the gun, and the effort put into the description.

When I see an auction with only 2 photo's, and the description is "part of XXX estate ", I usually don't spend any time looking at it.

When you have higher priced items, $10,000 and up, most auction houses will negotiate the sellers fee.
 

vito

Hunter
Joined
Jan 2, 2005
Messages
2,822
Location
Northern Illinois
This thread was a big disappointment. I saw the title and thought it would tell me how I could wait until after I died to sell or transfer my guns.
 

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