Went to an auction today

[RoninPA]

Went to a local auctioneers sale this morning (he's the big boy of auctions in these parts). Guns, ammo, decoys, wild life prints, coins (and coins, and coins, and coins...)

People bidding were crazy IMO. There were about 80-85 bidders.

A lot of the coins were US mint sets, old, new, and canadian money, foreign money, bullion. These people were paying double the price you could buy these things at a coin shop. Worst example - 100 oz silver bar, all the "correct" markings, etc. Bidding finally started at $1000. The winning bidder paid $2800.00 for that 100 oz bar.

Ammo - .22LR in "vintage" boxes went for .25 to .45 per round. 9mm, over .75 per round, .30-06 over $3.00 per round, 6mm over $5.00 per round and so forth. Maybe I'm just out of touch with ammo prices right now. And the people bidding were NOT spring chickens - average age I would guess for the buyers was 65-70. Probably 75% of the ammo was bought by 7 or so people.

Decoys and prints went at what I would consider decnt prices - prints $75-$200, decoys $100-$300

Gun prices - a Nylon 66 went for $600, Model 70 XTR (.270 w/Nikon Monarch scope) $1100, Remington 870 20 ga with an extra rifled barrel $1000, HK HK300 22WMR $1500

Ruger Security Six, 1979 model, (154- 716xx with the small numbers) blued, 6", .357 Mag no box or papers $440, Ruger New Model Blackhawk, 2000 model (37-67xxx) blued, 6 1/2" .357 Mag with box and papers $420 Guess who bought these two

Why do some people go crazy at auctions, especially the more senior of the citizens.

 

[Pat-inCO]

Life it tough . . . . especially when you (the bidder) are stupid.
For the Silver, he only paid about $900 more than today's price.

Let's see . . . . At $150/brick, I have several in the Winchester Wood boxes
that I would be happy to sell.

 

[the_leper_colony]

...Why do some people go crazy at auctions, especially the more senior of the citizens.

I don't know, but it seems to happen frequently, including with online auctions. Sometimes it seems to be a couple of guys who both decide they want something with a low opening bid, but keep bidding way past the point where a sensible person would stop. End result is, the high bidder pays too much, and the seller makes more money than they would otherwise.

I guess that's why auctions exist in the first place!

 

[nekvermont]

I love auctions but your right, it's amazing how much someone will spend on something just to be the high bidder, thus the "winner". A few years ago, I went to an auction at a big Marina that sold lots of boating supplies and was going out of business. People were bidding more on items than what was on the original price tag and then they had to pay a 10% buyers premium.

 

[Dan in MI]

The "gotta win" gets in their blood I guess.

When I was much younger went a auction that had some tools. A single Craftsman line wrench (3/8 x7/16) Went for $28. That days Sears weekend sale ad had a five piece set, that included that wrench, for $9.99. I never forgotten since how the fever grabbed some people.

 

[contender]

I too went by an auction today. It doesn't start until tonight at 6 pm. I previewed some items I had a little interest in,, and left some absentee bids in place. I doubt I win anything.
You are correct,, sometimes people get stupid at an auction.

 

[Dan in MI]

I too went by an auction today. It doesn't start until tonight at 6 pm. I previewed some items I had a little interest in,, and left some absentee bids in place. I doubt I win anything.
You are correct,, sometimes people get stupid at an auction.

I quit doing absentee bids after I left one thinking I couldn’t make the auction. Well timing worked out and I made it. My item came up. The auctioneer lifted up that 22 an said, “we have an offsite opening bid of....) MY BID!

Never again. I didn’t think about until after. Their job is to get the maximum amount for an item, of course they will start with standing offer.

 

[Mauser9]

Wow that much for some guns and ammo! Prices seem steep to me too! Does sound like some bidding wars going on. That Model 70 XTR was still a push feed back when made in the 70s. nothing wrong with that scope but $1100 sounds pretty steep. Bought most of my guns 40-45 years back thank god. Liked getting walnut and high gloss bluing.

 

[hittman]

Auctions are where you pay more than everybody else thought it was worth but you’re still proud.

I don’t get it.

 

[Johnnu2]

When I was young, I used to go to estate auctions on the weekends. I used to spot the people (there were always a few of them) who were gonna show the world that they want what they want. For entertainment, I would always start bidding against them and I'd run the price up to an astronomical figure and then bail out.... The only risk was that they were smart enough to catch on to the game; fortunately for me, they weren't. I never went to the auctions to buy; just to entertain myself and whoever I brought along to enjoy the drama. Again, "it's all about who's the biggest gorilla in the jungle"...
I don't do any kind of auctions any more....
J.

 

[AJGUNNER]

Sounds like you got the best deals.

 

[contender]

Dan,, yes,, there are auction houses who use your max bid as a starting bid etc. I've attended this auction house often enough & watched the way the absentee bidding system works. And I've placed bids with them before & won items well under my max bid.
I trust this place.
But,, there's another auction house,,, I'd NEVER trust them. But I won't go into the MANY reasons why.

 

[RoninPA]

Sounds like you got the best deals.

I like to think so . There was only one person bidding against me, I don't think people "understand" or appreciate Rugers like a lot of us do, especially the Security Six series double actions.

 

[Mobuck]

My cousin who's an auctioneer worked a 'gun & coin' auction about 2 weeks back. The prices he related were in line with those Ron posted. Listen, people have MONEY to spend and think such places as auctions are less likely to be 'traced' or leave a 'paper trail'.

 

[RSIno1]

If you really want to see idiocy watch a Barrett Jackson auction (and lately even the Mecum ones) where two rich guys try to prove who's got the deeper pockets after being plied with free drinks all afternoon.

 

[57springer]

Went to a local auctioneers sale this morning (he's the big boy of auctions in these parts). Guns, ammo, decoys, wild life prints, coins (and coins, and coins, and coins...)

People bidding were crazy IMO. There were about 80-85 bidders.

A lot of the coins were US mint sets, old, new, and canadian money, foreign money, bullion. These people were paying double the price you could buy these things at a coin shop. Worst example - 100 oz silver bar, all the "correct" markings, etc. Bidding finally started at $1000. The winning bidder paid $2800.00 for that 100 oz bar.

Ammo - .22LR in "vintage" boxes went for .25 to .45 per round. 9mm, over .75 per round, .30-06 over $3.00 per round, 6mm over $5.00 per round and so forth. Maybe I'm just out of touch with ammo prices right now. And the people bidding were NOT spring chickens - average age I would guess for the buyers was 65-70. Probably 75% of the ammo was bought by 7 or so people.

Decoys and prints went at what I would consider decnt prices - prints $75-$200, decoys $100-$300

Gun prices - a Nylon 66 went for $600, Model 70 XTR (.270 w/Nikon Monarch scope) $1100, Remington 870 20 ga with an extra rifled barrel $1000, HK HK300 22WMR $1500

Ruger Security Six, 1979 model, (154- 716xx with the small numbers) blued, 6", .357 Mag no box or papers $440, Ruger New Model Blackhawk, 2000 model (37-67xxx) blued, 6 1/2" .357 Mag with box and papers $420 Guess who bought these two

Why do some people go crazy at auctions, especially the more senior of the citizens.

Sounds like a Ron Gilligan auction ?

 

[RoninPA]

Yep, it was Ron J. and his son Ron S. I've known both of them for a good while and I have to give them credit, they know how to sell (and how to bring in the folks with money). This was one of the few times I've seen any Rugers for sale.

 

[57springer]

Yep, it was Ron J. and his son Ron S. I've known both of them for a good while and I have to give them credit, they know how to sell (and how to bring in the folks with money). This was one of the few times I've seen any Rugers for sale.

I have been to some of their auctions and they do bring in buyers . They seem to run a "clean " auction . No fooling around with phone bidders etc . !

 

[Snake Pleskin]

If you really want to see idiocy watch a Barrett Jackson auction (and lately even the Mecum ones) where two rich guys try to prove who's got the deeper pockets after being plied with free drinks all afternoon.

I have been to both in Scottsdale. You are quite right!

 

[tazbigdog]

When I lived in PA, I used to go to a ton of auctions. Many as you described, paying exorbitant amount for the items. Once in a while, I’d find little attended, or ones that people didn’t know the value of the items, and I’d make out like a bandit. Like finding vintage cold steel tantos for $15 apiece.

 

[powder smoke]

Auction for me are mostly for entertainment! I rarely bid simply because bidding raises
the pricing beyond reality! dumb in lots of cases!

 

[toysoldier]

Why do old guys pay so much? They have the money, and are determined to get what they want, while they can.

 

[harley08]

Life it tough . . . . especially when you (the bidder) are stupid.
For the Silver, he only paid about $900 more than today's price.

Let's see . . . . At $150/brick, I have several in the Winchester Wood boxes
that I would be happy to sell.

I got 20,000 rds. of 22lr I would sell at $150.00 a brick..

 

[Busterswoodshop]

I got 20,000 rds. of 22lr I would sell at $150.00 a brick..

Do they come in the original box ?

 

[57springer]

Do they come in the original box ?

Old boxes of ammo sometimes sell for really high prices. Sometimes the folks are only after the box !

 

[NDAR15MAN]

I sold a bunch of guns and gun items in the last 3 months. I was very very happy with the results. For the past 45 years when I sold a gun I Always ended up getting about 80% of what I paid for it.In the last 3 months I received 125% on what I paid for them and this was after I paid my 15% commissions on guns that sold for more than $750.00. I just laughed. Now is the time to thin gun heard if you ever thought about it. MD

 

[the_leper_colony]

I sold a bunch of guns and gun items in the last 3 months... Now is the time to thin gun heard if you ever thought about it. MD

Prices have (obviously) been up for a while. I retired a few years back, and ended up 'thinning the herd' during the Wuhanic Plague and election aftermath. Prices were high enough, that I was able to sell most of my guns & ammo to a local FFL and still get my money out if 'em. Thought about selling on GunBroker, but the non-paying bidders have made selling anything there a gigantic pain in the backside.

 

[trebor44]

Addiction to the adrenaline rush? Like the roll of the dice?

 

[harley08]

Do they come in the original box ?

yes

 

[RoninPA]

Oh, by the way, this is what I bought. The Security Six had Pachmayr Presentation grips on it so I took them off and put this set on (made by Mustang) that I had in my grips box.