Auctions and overpaying

Wisco said:

Just what I need, another place to spend money!

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The penny auctions there have waged an intermittent warfare on my wallet for years.

Whew, look at this gun though. bids are up to $700 for a used glock 42.

https://www.gunauction.com/buy/15649167

Auctions, including the on-line ones aren't all bad.

I don't n-e-e-e-d it, but I've coveted a S&W 69 for the last couple of weeks. On-line retail is from $691 up. The local big box gun store has them for $741, plus sales tax (6%). Proxibid didn't show any coming up for auction soon, so I went on-line to Gunbroker.

DOING MY HAPPY DANCE.

Took 2 weeks of following the dealers on GB. Stuck with my goal of not bidding more than $600. Just closed for $590 + $15 S&H tonight.

Did I mention? DOING MY HAPPY DANCE!

Local FFL will do the transfer for free, also. YES!

alfsauve said:

Did I mention? DOING MY HAPPY DANCE!

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Is there video of that?

Local FFL will do the transfer for free, also. YES!

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That's very good of him. Considering the bit of time to log the gun into his inventory and then go through all the motions of selling it to you, which is what we do on ffl transfers. The $20 we charge (including the FDLE mandated b/r check) covers the time invested. Of course, we hope to maybe sell the customer some ammo or other actual profit making (damn capitalists) item. Funny how for the longest we were allowed to run pawn pickup b/r checks through NICS for free, but now all must go through FDLE where they collect $$$ for the favor of doing that. Perhaps your ffl is allowed to only use NICS, which is free.

FlSwampRat said:

..... now all must go through FDLE where they collect $$$ for the favor of doing that. Perhaps your ffl is allowed to only use NICS, which is free.

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No state, GBI, check in Georgia. Because of my GA CCW the dealer also doesn't have to go through NICS. (As far as I know I've never been run through NICS.)

This dealer, TruPrep, has streamelined the process so it doesn't take much time. Yes, they get lots of add on sales. They're more of a survivalist store, so this draws in gun owners who might otherwise not shop there.

One thing that has been overlooked is the entertainment value of the live auction. And for one of the larger auction houses in Houston, the free bar. Bids go up as the Scotch goes down. I am a sucker for the rust and dust guns in a live auction. Best auctions are those limited to the people in the room. Found some interesting things I would never bother to look at on GB. Brought home 7 one night. Got hosed on some, but education is not always free.

I have one real rule on auctions, "Don't get carried away and overbid on a gun you've wanted for a long long time! There will be another one soon enough". So far, I haven't broken that rule. I can't say the same for people who have bought guns I've had for sale over the years. My biggest score was when I sold my Astra A-100 for over $500 ($490 for the gun, $25 shipping (Only really cost me $7.00, and I didn't have to pay any transfer fee) a few years ago. Two guys just went at it in $5.00 increments for the last hour of the auction. When I left for work, it was at $395, with about 45 minutes left. When I checked it an hour later, and saw what it went for, I, well, giggled. I paid, including shipping and transfer, $299 for it a couple of years before. I needed money for taxes, so I really didn't get to enjoy the profit though..

If you want something you pay the price, if you don’t walk away. Always worth what’s someone wants to pay.

If buyer and seller are both happy with the transaction, then it was a fair price.

hemiram said:

I have one real rule on auctions, "Don't get carried away and overbid on a gun you've wanted for a long long time! There will be another one soon enough". So far, I haven't broken that rule. I can't say the same for people who have bought guns I've had for sale over the years. My biggest score was when I sold my Astra A-100 for over $500 ($490 for the gun, $25 shipping (Only really cost me $7.00, and I didn't have to pay any transfer fee) a few years ago. Two guys just went at it in $5.00 increments for the last hour of the auction. When I left for work, it was at $395, with about 45 minutes left. When I checked it an hour later, and saw what it went for, I, well, giggled. I paid, including shipping and transfer, $299 for it a couple of years before. I needed money for taxes, so I really didn't get to enjoy the profit though..

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Depends on the item.....in the sub $3,000 class yes I agree with you....but if you go north of that, then things start to get a bit harder to find. I was bidding on a johnson that just went too high for my blood, with the bayonet....those are spendy....I just decided to let it go.....same deal on the last G41 I looked at. Those don't come around the block every day.

Actually today I am looking at a few things on the newest Rock Island auction, they have a lot of Daisy 22 rimfire as well as one or two guns that shoot the VL ammo....not real common, but not on every corner....also something I don't have and an interesting item....I may pay more for those then the going rate. Now they also have a 1917 revolver that I am going to look at, not going to go much over market on that as they are pretty easy to find.

But you guys are right, you need to know what you are looking at....and what the value is. If it is a pretty common item, but in real good shape, I would pay more for it. Just really depends on the person buying it.

I don't find a nylon 66 new in the box worth $1800.....but that does not mean the rifle is not "worth" that.

For modern stuff, I usually don't buy that at auction.....just why, If it is new-ish, they are usually available through more "normal" channels.

-It's not what it's worth, it's what it's worth to YOU.

Welp missed my auction, went into work that day at 2am, got off at noon went home ate and fell asleep.

Too old for these long days anymore.

I have moderate success online. . . patience pays.

This weekend I'm picking up a S&W M&P9, used armed guard trade-in; all told (with shipping and transfer) I will have $225 invested. Not too shabby.

silicosys4 said:

. . . bids are up to $700 for a used glock 42.
https://www.gunauction.com/buy/15649167

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That sold for $841!

fpgt72 said:

Welp missed my auction, went into work that day at 2am, got off at noon went home ate and fell asleep.

Too old for these long days anymore.

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I’ve won a lot of auctions by seeing what time of day tonight it ends. I like the ones that end middle of the day or toward the afternoon on weekdays. I figure people might be to busy working or driving to keep up with the auction.

Before biding on any gun-related auctions I will always check for the best price in gundeals. As others here have already noted, the auctions typically do not have the best prices, particularly with the inconvenience of demanding USPS money orders.

silicosys4 said:

Whew, look at this gun though. bids are up to $700 for a used glock 42.

https://www.gunauction.com/buy/15649167

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It went out north of $840.... just wow....Musta been owned by somebody WAY famous....

I recently "watched" while a 1982 Leupold Vari-X III 2.5-8x bid up to $500. Beautiful gloss scope, but really?

I subsequently bought a VX-3 2.5-8x36 with CDS dial for $250 on one of the forums.

Dang! $841 Iis just crazy. New G43 at Bud's right now is $448.

^ yeah I think a lot of the on-line auctions are never finalized.

I consider my bid to be my bond.
Out of the thousands of items that I have purchased at auction there was only one that went unpaid.
The seller was a fraud and was kicked off of the venue before I could provide payment..

Wisco said:

Some of these are definitely going to be non-paying bidders. Maybe a bidding war that got out of hand.

One would have to be really stupid to pay $841 plus fees for a gun that’s $400 new. Literally, just googling G42 will show prices...

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I've been involved in a couple of online auctions that involved what I suspect was a shill bidder who posted a really high bid at the last minute, just to run the total up.