I went to the auction in Lenoir City last month. They had a 12% buyer's premium but reduced it to 10% if you paid cash. I was the final bidder on a Ruger New Model Blackhawk which had only about 65% of the blueing left but looked to be in sound condition. I still had to pay 9% sales tax, a $10 background check and a $10 transfer fee, but still got a good deal--about $200 less than normal used value. After I got it home and cleaned up, I was happy with the deal.
Then I noticed something peculiar. Even though it was a New Model Blackhawk, there was no lawyer talk on the barrel--you know, the warning to read the manual before you do what the gun's made for. I researched the serial number on the Ruger website and the revolver was off the chart. It had a number lower than the oldest New Model range. I soon learned that my revolver was a transitional piece that Ruger produced. They took an Old Model barrel and stuck it on a New Model cylinder frame. This would appeal to collectors, but whatever premium they would pay might be erased by its worn condition. Whatever...it was a nice find and a good shooter. So, it's buyer beware at those auctions--know before you go.