Any ideas why this brought $4250?

[rct269]

"But I, personally, like to feel like I got a deal!" (mcrvs, post #9)

Well there you have it. You're motivated by getting a deal----and you're not alone. There are others motivated by possessing very special, very spiffy items. Those latter folks are at least a little bit pleased you're out there-----cuts down on the competition.

You might want to think about why you're attracted to "a deal". Perhaps it's because you're overly concerned with money. Such concern is entirely appropriate if you have a pile of money that has to last you until the end---or a long time----whichever comes first-----AND you're never going to get any more (money). On the other hand, it has always seemed like I get more money pretty much every day. It seems like everyone else does too---including the folks on welfare. So much for vent number one.

Now let's talk about the estimates placed on stuff by auction houses. We'll start off by recalling the auction's job is to sell stuff to buyers. Job one then would seem to be attracting buyers. The auction folks have learned there are lots of folks who like to feel like they got a deal. They've also learned low estimates attract buyers----or at least bidders. The auction folks have also learned some bidders go a little bit nuts----and end up bidding more than that destined to get "a deal"----and all is well. Here's a little experiment you might want to try sometime: Ask RIA (or any of several others) what they reckon such and such item of yours might fetch at action. Then check out the estimate for that item that shows up in the catalog. The big number they gave you in order to get the consignment was to get the consignment------they need stuff to sell. The little number you'll see in the catalog is to get bidders----they need them to sell stuff to.

Let me suggest you will NEVER get a deal at RIA----and others of similar ilk----similar ilk being auctions which attract large numbers of bidders. (We can talk about other ilks another time.) Let me also remind you of something you already know: Deals (sometimes SCREAMING DEALS) are to be had at nobody, nowhere auctions pretty much all the time----IF/WHEN the nobody, nowhere auctions happen to come up with something really attractive-------which doesn't happen very often.

Bottom Line: Every single buyer of every single item feels like they got a deal----never mind some deals are better than others.

Ralph Tremaine

 

[BigBill]

1. Low serial number
2. Desireable
3. How bad you want it
4. Auction playing with the big boy toys.
5. We only pass this way once.
6. No brinks armored truck in a funeral seen yet.
7. Breakout the piggy bank.
8. He who has the most toys wins.

Enjoy life because it's so short.

This did I get a deal thing cracks me up. Ok we save where we can but pay more for others it all comes out even in the wash trust me. There's a time to turn and burn, a time to be frugal, a time to get the moths out of your wallet and buy it.

 

[ditto1958]

Exactly this.

That's very nice condition for such a gun. Serial number 30 also makes it extremely desirable. Combine the two, and add a couple guys who want the gun? It's going to get expensive.

Yup, a desirable gun, and two or more buyers who need it to fill a hole in their collections = bidding war. Be nice to have been the seller of that one.

 

[mrcvs]

"But I, personally, like to feel like I got a deal!" (mcrvs, post #9)

Well there you have it. You're motivated by getting a deal----and you're not alone. There are others motivated by possessing very special, very spiffy items. Those latter folks are at least a little bit pleased you're out there-----cuts down on the competition.

You might want to think about why you're attracted to "a deal". Perhaps it's because you're overly concerned with money. Such concern is entirely appropriate if you have a pile of money that has to last you until the end---or a long time----whichever comes first-----AND you're never going to get any more (money). On the other hand, it has always seemed like I get more money pretty much every day. It seems like everyone else does too---including the folks on welfare. So much for vent number one.

Now let's talk about the estimates placed on stuff by auction houses. We'll start off by recalling the auction's job is to sell stuff to buyers. Job one then would seem to be attracting buyers. The auction folks have learned there are lots of folks who like to feel like they got a deal. They've also learned low estimates attract buyers----or at least bidders. The auction folks have also learned some bidders go a little bit nuts----and end up bidding more than that destined to get "a deal"----and all is well. Here's a little experiment you might want to try sometime: Ask RIA (or any of several others) what they reckon such and such item of yours might fetch at action. Then check out the estimate for that item that shows up in the catalog. The big number they gave you in order to get the consignment was to get the consignment------they need stuff to sell. The little number you'll see in the catalog is to get bidders----they need them to sell stuff to.

Let me suggest you will NEVER get a deal at RIA----and others of similar ilk----similar ilk being auctions which attract large numbers of bidders. (We can talk about other ilks another time.) Let me also remind you of something you already know: Deals (sometimes SCREAMING DEALS) are to be had at nobody, nowhere auctions pretty much all the time----IF/WHEN the nobody, nowhere auctions happen to come up with something really attractive-------which doesn't happen very often.

Bottom Line: Every single buyer of every single item feels like they got a deal----never mind some deals are better than others.

Ralph Tremaine

I have bought items at auction before and gotten deals. In every auction, there are "sleepers", sometimes an item isn't described properly, the other person who wanted it as badly, or more so than you, was buying a hot dog at the time the item came up, etc. With the advent of internet bidding, these scenarios are increasingly rare--but possible.

Auction strategy dictates the auction house wishes to secure the largest bid, attract good inventory, and able and willing buyers.

One has to decide how badly one wants an item, and this is part of bidder psychology. I didn't want it nearly as badly as others did. Sometimes, if I want something badly enough, I might not feel like I got a deal, and maybe even the successful bidder doesn't feel like they got a deal--but they feel rewarded, even if they think they overpaid for this, because it fills a void in their collection, they just want to have it and eventual resale is not a concern, etc.

 

[rgm36]

Any ideas why this brought $4250?

Simple - somebody with a lot of money really wanted it!

 

[dben002]

Ever been to an auction ?

If yes, did you happen to notice how some people at auctions check their common sense at the door or how some very intelligent persons are struck with stupidity as soon as they enter the building (it is temporary while inside and all will return to normal when they exit the property)............

I have seen perfectly normal people who when confronted with something they always wanted at an auction completely go berserk if there is someone else there who also wants the same item....bidding wars start and all heck breaks loose and runs amok.

If they got the funds and want it that bad so be it.....congrats to them.......

 

[Lee's Landing Billy]

At least one other person thought it was worth near this. I've been on both sides of this as a winner and a loser. I like it better when I win, but I always have a final figure in mind, always.

 

[mrcvs]

Any ideas why this brought $4250?

Simple - somebody with a lot of money really wanted it!

Do I have a good collection of firearms, Smith & Wessons, as well as Winchesters, Colts, Sharps, and Merwin & Hulberts? Yes. Is it "above average"? Depends on your definition of"average". Is it truly GREAT? No. First, in order to have a truly GREAT collection, you probably need to have more money than I have. Could I have a decent collection with a few "above average" specimens? Well, I do have that, and, had I wanted this Triple Lock badly enough, I could have had it, but I decided what my high end limit was, and when it was easily surpassed, that was the end of even coming close to owning this Triple Lock.

I think--no, I KNOW--in order to have a truly GREAT collection in this day and age, you have to focus on the collection first and foremost, and worry about what it cost/ is it a good investment secondly or not at all.

And, in the end, what might be perceived to be a terrible investment at the time of purchase might (probably more often than not) reward the seller or the seller's estate handsomely at the time of future, eventual sale.

 

[GRI]

I have been doing this for about 50 years. If no one paid more than the "book" price for a firearm, than I would still be buying my guns for the 1967 book prices. I have found I might worry I paid too much for a gun and others may have told me that at the time. Only to have someone five years later tell me that I had "stole it" back then.

 

[model3sw]

I always believed in buying the best quality you can find and paying a fair price for it. And, if it was in those last few percentage points 95% and up, you can just about throw the book away ... especially, if it is a scarce model.

I purchased my 52A in 1995 ( enhancing the story is that I searched for one for about 10 years in the pre-internet "dark ages" ) over the "then" book price of ANIB, IIRC somewhere around $1850.00 with the shipping box and receipt from Cherry's where the first owner purchased. My friend Mike (RIP) ragged me all the way home and for the next year, relentlessly, until he tried to buy one himself.

Try to buy a 52A ANIB now ! Same thing for my nicest, original, New Model 3 Target Models. All of them, regardless of caliber, barrel length and finish, but especially the .44s and the .44s with 8" barrels and the NM 3 Target in .45 S&W Schofield. I had never seen a NM3T in .45 S&W Schofield other that the one in Jinks & Neal's book where there is a picture of one that was owned by Robert Neal (RIP). Ed had written an article in the S&WCA Journal years back about the NM3 (non-target) in .45 S&W where he posted pix of one or two but they were non-targets and in well used, e.g. service useage it seemed, condition.

Some people will not buy unless they get a bargain. That's OK. No harm in someone trying to bargain but then there are the "bottom feeder" types that want gold for the price of sand. There's no dealing with people like that, I feel.

Ray Brazille (RIP) was a collector and dealer of fine vintage S&Ws for many decades. When Ray had a sweet S&W, it was "RIGHTEOUS" and you PAID a righteous price ... but ... if you had something he wanted, HE also paid a higher price for it than near anyone else.

I had a sign in my garage that went (this may not be "the" exact quote but close to it) :

" Quality is like buying oats. You must pay a fair price.
... However, if you can be satisfied with oats that have been through the horse ... they come a lot cheaper".