One would think that bidding in an online/live auction would be the opportunity to find a gun you were looking for at a reasonable price. A gun auction in Bismark, ND yesterday proved that theory incorrect. Those who actually attended the event were the majority of the high bids and they must have came with a gang of cash. I am no expert on prices but a .357 Colt Python went for $3,250. A liitle 30-1 faded nickel for $630. Guess they were glad to have some event to attend after a years worth of COVID19 and had some money to spend.
Auctions
- Thread starter tripledipper
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Went to the N. Georgia auction Friday for the preview. A 28-2 and 15-3 that were trashed and a nice 51 and several 442's caught my eye. Got up early Sat. AM to check the internet bids and decided not to make the trip again. My only regret was a Python from 1975 that hammered for $1800 ($2176 OTD). Ammo prices were insane!
H Richard
US Veteran
When buying, I like the local auctions where there are only local bidders. When selling I want the auction that is listed and advertised on Proxibid to the world. Kind of like having your cake and eating it also.
But you will find those you are searching for looking over the Proxibid auctions.
But you will find those you are searching for looking over the Proxibid auctions.
LVSteve
Member
I have also noticed all kinds of ratty milsurps selling for crazy money at auctions. There are still bargains to be had, usually at sales with clueless auctioneers. On that note, there was a largely Mauser milsurp auction late last year where some of us buyers did very well, thank you. 
AJ
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I have a friend that attends an auction every month in NW Pa. They sell a couple of hundred guns at each auction as a rule. Some are very nice and some are rather humble. All seem to go for above average prices. The folks that attend bring their wallets and are not afraid to spend money. Some of the prices paid for things are amazing!
I like my local live auctions, no buyer's premium, no sales tax, no shipping.
Have gotten some really good buys, generally firearms sell for about the same as on GB but no other fees or shipping.
Proxibid can be a trap, Buyer's premium of 10-20%, plus sales tax, plus shipping if not local to you. All that can easily add 30% to your bid price.
Have gotten some really good buys, generally firearms sell for about the same as on GB but no other fees or shipping.
Proxibid can be a trap, Buyer's premium of 10-20%, plus sales tax, plus shipping if not local to you. All that can easily add 30% to your bid price.
James K
Member
I just acquired a very nice 1905 4th Change .38 spl for $600 at a weekend auction in Orange County, CA. I like doing absentee bids and not get caught in heat of battle. Won 1 out of 5.
Wanted a K-22 and bid 650 but it went for 750.
Some of the Colts and rare stuff were in the 5 figures.
Wanted a K-22 and bid 650 but it went for 750.
Some of the Colts and rare stuff were in the 5 figures.
LVSteve
Member
How does that work? Is the house making all the money off the seller? As for no sales tax, there's a slew of states where that won't work because they are actually sales and use taxes.
The auction company I am familiar with charges the seller 15% and that includes all the advertising. They own their own facility.
Sales tax is only charged here if it is a business that is going out of business.
James K
Member
Most auctions get both a buyer's premium and sellers cost. They make money both ways. Proxibid get's the highest premium- 18% or more. I do absentee bids and then watch the live auction on Proxibid but don't live bid.
Cash/check for a local auction usually gets you down to 12% buyer premium. In CA you pay sales tax on the price, plus DROS which is $37 or so. So don't overpay!
Cash/check for a local auction usually gets you down to 12% buyer premium. In CA you pay sales tax on the price, plus DROS which is $37 or so. So don't overpay!
H Richard
US Veteran
Be sure to be aware of Gunbroker now mandating sales taxes be charged if your state has required it. When you look at any Gunbroker auction check out if that state your state requires sales taxes collected. Adds 6-10% to the price.
LVSteve
Member
There is another gag here. The Auction company ups the buyers' premium on Proxibid auctions because of the latter's cut. Proxibid is actually getting about 3-6%, not 18%. There are other online services that must charge less because there is no mark up or less mark up for bidding through them.
LVSteve
Member
BTDT and I don't have a problem with it. We've got away with no sales tax on stuff from other states for a while, and it was only a matter of time before states began to clamp down because of the lost revenue. It's been that way for cars here in Vegas since I came to the US.
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