Auction prices

[AMSting]

I went to an estate auction yesterday. They had several guns listed. All were used and complete. I was looking at a couple, but when the bidding started, I think they went way high.

Springfield 9mm subcompact for 650

H&K 45 tactical with red laser for 950

Ruger 357 Security six for 400

Colt 223 AR-15 with red dot for 1550

Is this still due to the Obama scare? One guy was asking about whether they had to register what they bought. Apparently he didn't remember giving his name, address, phone number and driver's license number to get his bid number. Several guns didn't get picked up when the high bidder would not sign a form stating they were a TN resident and not a felon. What are these people thinking?

[Guest Bronker]

Wow!

Yes. Ridiculous.

Just wow.

That SA XD9 would be $425-$450 tops. Tops.

[Guest TargetShooter84]

Wayyy overpriced.

[kesava]

met an estate auction owner not too long ago. they price guns very high because they get a lot of uninformed buyers. think pawnshop. he said that the most popular auctions are the ones that include firearms. everyone thinks that they are getting a deal.

[CM1021]

I have been to a lot of auctions where guns go for a LOT more than they are worth... I jsut don't get it!! I always try to research what I'm buying BEFORE I shell out the cash for it...

[Erik88]

Wow!

Yes. Ridiculous.

Just wow.

That SA XD9 would be $425-$450 tops. Tops.

this!

[Guest TargetShooter84]

I have been to a lot of auctions where guns go for a LOT more than they are worth... I jsut don't get it!! I always try to research what I'm buying BEFORE I shell out the cash for it...

This!

[daddyo]

Did someone actually bid those prices or were those starting bids?

[AMSting]

Those were final bid prices. Most starting bids were reasonable, or at least about what I would expect they were worth. Then the bidding took over and people went crazy.

[BJB]

I have not purchase a gun thru a auction like that.......do they do back ground check. if not that may be why they go so high. Sounds like I need to have an auction

[Guest 73challenger]

Dang! I'm glad I didn't waste my time going. I was thinking about it.

[tntnixon]

Every auction I've ever been to that had guns, were insane. The prices always go for more than a brand new firearm. But when you see the people who end up winning the bids you realize they're either under-educated or probably couldn't pass the TICS background check. Kinda scary, actually. This, of course, doesn't count rare and premium firearms. That's a whole other crowd.

[Sandman]

Also, in addition to background checks, you have to pay a 10-20% buyers' tax on everything you buy from an auction. So wow.

[dats82]

I think that is often just actions in general. People just seem to get caught up in bidding and forget what a reasonable price is.

[LagerHead]

I think that is often just actions in general. People just seem to get caught up in bidding and forget what a reasonable price is.

Yep, it's less an auction and more a bidding war. People just seem to want to show that they are able to pay top dollar sometimes. I am able on some things, but willing on very few.

[gregintenn]

Some people are just stupid, but often times at an estate auction, you have more than one family members bidding for "uncle Joe's" favorite gun. Oftentimes they've already had a dispute and are at odds with one another. To further this problem, if they are receiving inherietance from the estate, they will feel like they are buying at a discount. I have gotten bargains from estate auctions, but I sit through a lot of craziness to get one bargain.

[Guest Spurhunter]

Uneducated buyers + the auction format = good profit for the sellers.