Went to an "estate" sale yesterday. Well not really.

[Guest Domestic]

Let me start off by saying that Gary that runs the auction house is a good man hes a very nice guy. I found this "estate" sale advertised on the internet it was in spring hill TN so i made plans and went. Well first off it was not an estate sale it was an auction. There were over 200 guns there mostly rifles but there were some revolvers and hand guns and also some WW1 and WW2 collectibles. The inspection started at 7:30 and thats around the time i got there so i checked everything out there were some really nice rifles and most of the firearms were very clean an taken care of if not brand new. The auction started at 9:30 AM so they started off and the first one to go was a Browning Silver Hunter - 12 ga which we know is a very nice shot gun they can usually be had between $800-$1100 from what i have seen well it sold for over $1000 i thought well maybe that was just one of the hot ones for sale. Well long story short every gun that went up for auction went $100-$500 over value. There was not one gun that sold for under or for what it was actually worth , For example a bersa .380 you would think maybe $200 at an auction? Try $350. There were 2 Kel tecs both went for over $300 one was $375. I guess i am venting i thought i might be able to get a decent deal on a gun or two but it was the worse auction/gun sale i have ever seen in my life i mean gun show prices looked like good deals compared to this auction. Im not sure if anyone else went but i know i wish i could get my saturday morning/afternoon back. Sorry for the long story and incorrect grammar i just wanted to vent and now i know Gary Realty & Auction is not the place to try an buy guns , I was mad also that it was advertised as an estate sale which it was not by any means. Ok thats all.

[Patton]

I have seen this repeatedly before. They always bring crazy amounts at those. I saw a Taurus 24/7 go for $700 and a S&W model 10 go for $650.

[Guest brandon_pitt]

Its never fun expecting a deal and it not coming to fruition.

[hipower]

Yea, auctions can be very vexing. I gave up on going to them some time ago. Any good deals are usually worked out in advance and the mediocre stuff seems to go 30-50% higher than it should.

[Trekbike]

I experienced the same thing a couple of years ago. It was a downpour all morning and I'm thinking...great day for an auction. Nope, crazy prizes. Total waste of time and gas.

[zgunbear]

Glad I didn't go. It was just down the street but I figured prices would be nuts

[Dolomite_supafly]

I have seen this repeatedly before. They always bring crazy amounts at those. I saw a Taurus 24/7 go for $700 and a S&W model 10 go for $650.

If anyone else is looking for a 24/7 for $700 I will sell mine:D. J/K, never going to part with this one. Actually seems the wife may be taking it over now that is unless I can find a pink one.

Those are insane prices.

Dolomite

[Guest Domestic]

Well like i said i took the list and looked each gun up and wrote down its value new and used and every single gun sold for more then they were worth and most of them for a substantial amount more then they are worth you when someone is paying $450 for a keltec .380 thats used then something just aint right heh. Im all for paying up to the retail value of a gun if i am looking for that particular one and its what i want but i would never pay hundreds over what the value of a gun is no matter , It almost seemed that everyone there knew something that i didnt like if you bought a gun it came with an oz of gold or something.

Edited June 13, 2011 by Domestic

[NRA]

yup I was there, good for the seller bad for the buyers. I bid on two items and walked out early with nothing to show for my time.

[LagerHead]

I experienced the same thing a couple of years ago. It was a downpour all morning and I'm thinking...great day for an auction. Nope, crazy prizes. Total waste of time and gas.

I think I was at that one!

If you want to sell a gun for more than it's worth do it at an auction. People seem to see it less as an auction and more as a bidding war.

[Guest mustangdave]

Hmmm....value is really a difficult thing to guage IMHO...."something" is WORTH whatever amount you are willing to PAY FOR IT in the long run...and from experience auctions do tend to end up being a bidding war...excellent time for the seller and auction company

[Guest GunTroll]

I agree. Something is worth what someone will pay for it. I personally tend to dislike "appraising value" for firearms. Instead I like to use any of the online auctions to see what they are selling for. The winning bid is what its worth and you can get an average value based of off that.

And as for the OP. I have heard the same thing about every estate sale here in TN. Maybe the previous owners were famous or something because I don't see why the high bids either.

[Troutburger]

Sounds like the auctioneer did a fine job. His job is to get the most $$$ out of every item at the sale.

I've never seen a gun sale at an auction for less than I thought it was worth....even rusty single shot 12's bring a premium.

[seez52]

thought I might get a companion nylon 66 for mine at an auction last year. It was beat up and rusty with missing front site. I'm thinking I might get a a good deal as no one is going to want this plastic stocked beater. --- wrong. last account I had it was headed north of $175, not to mention the tics check and $25 fee paid to the dealer handling transfers.

[East_TN_Patriot]

People seem to see it less as an auction and more as a bidding war.

And that is the key. Many people get caught up in the bidding and when you couple that with folks who probably know very little about guns, you end up with premium prices. I think many people attend auctions assuming that everything will go at a bargain price, so novice gun folks don't even think about researching prices.

[Guest Domestic]

And that is the key. Many people get caught up in the bidding and when you couple that with folks who probably know very little about guns, you end up with premium prices. I think many people attend auctions assuming that everything will go at a bargain price, so novice gun folks don't even think about researching prices.

You are right. In that instance the guns are worth what those there are willing to pay. Just crazy to see guns that are easily hundreds cheaper at a gun shop or pawn shop bringing such high amounts. As far as the crowd goes that was there it didnt seem like but maybe a few actually knew what they were looking at that was being auctioned. I learned my lesson though no more auctions that involve firearms but i will go to an estate sale i have found many good deals at those but again those are not auctions.

[Guest Major Pain]

The last gun auction I went to a baby Browning 25cal. auto, nickle with pearl grips brought $800. After that I got up and left.--MP

[Volzfan]

Sounds like the auction company did what they were supposed to do and thats get the best price they can. It's the fools bidding that caused the problems. You should have been nice enough to point out to the buyers that they had dramatically overpaid for their new guns!