GunBroker Price Madness

[Model39]

I was watching a dual cylinder Model 650 on GunBroker with a friend who wanted to buy it. The final sales price was $2784. I have one (pictured below), but I don't think they are worth anything near the that, or are they? There seems to be a lot of price madness going on lately. I wonder if this will continue, or will the bottom fall out.

 

[bp231986]

Gun Broker is madness.....Show me a good deal with a fair price that is practical? No such thing in gun broker.

 

[NZshooter]

I really wanted that one, too... got a nice 650 from a forum member here, really wanted the 22lr cylinder, but for $2000 extra I'll just buy a ton of 22 WMR (MRF).

Another one that interests me but has gone way insane (insane AFAIK.... I know its rare and don't know what they "normally" go for but the price seems have gone sky high, way beyond what I'd be willing to pay) ... the 6" 617 without the barrel lug.

 

[Geno44]

I've been looking for an S&W 66 4", in nice condition but to shoot. I've posted here and on another forum and watched the various auction sights. I see guns with scratches, rough grips, rubber grips, mismatched boxes, dirty and they all seem to bring very good money or do not reach an obscene reserve. There is nothing very rare about a 66. I can't explain the current market but it does seem to be "hot". I'm still looking for the 66 4" if anybody has one for sale.

 

[410bore]

Gun Broker is madness.....Show me a good deal with a fair price that is practical? No such thing in gun broker.

You don't look hard enough.

 

[bp231986]

You don't look hard enough.

Well ya people have also claimed they've seen Bigfoot...[emoji4][emoji4]


Sent from my iPhone using Tapatalk

 

[410bore]

Well ya people have also claimed they've seen Bigfoot...[emoji4][emoji4]


Sent from my iPhone using Tapatalk

don't believe me, that's fine. more for me

 

[H Richard]

If they sell, that goes toward establishing the "value", as someone was willing to pay that much. I personally feel that was way over what it was worth, but it was evidently worth that to someone. The problem is trying to find one any cheaper. After you search for a couple years you may have to realize that it was worth it, regardless of what you wanted to pay. I know the feeling, I was out bid on three nice N Frames at a local gun auction a few weeks ago. I just couldn't see having to go to $1000 for any of them, but it took that to buy them.

 

[1sailor]

I have bought a total of 5 pistols from GB. Sometimes you just have to keep searching and wait for that "deal" to come along. By following your search daily it also gives you a good opportunity to determine what is a good price in todays market. Every pistol I've bought there I was able to sit back and say "Wow, that was a great freakin price". You gotta be real patient though. I do agree though that some of the sellers on there must really not care if they sell or not. I see some of the same pistols listed for several months at a time. I have to wonder why they even bother.

 

[MarkAlt]

There are (at least) 2 sides to this. Not saying mine is better; just that it works for me.

I refuse to use GB as an auction site. For me, it's a store.

I just picked up 2 nice Colts at good prices. The seller posted a "Buy it Now" ...and I did.

I have no interest in playing games with my money and waiting for the clock to stop on my number. There are plenty of fair (not bargain basement) price dealers out there and they get my money with a few clicks.

 

[blaser1234]

Gunbroker Auction Site

Well guys, the market is the market. You might not want to agree
with GB auction prices but actually in the long run, w/few exceptions, they mirror the marketplace. Look back at most firearms and what they sold for a few years ago and 9 out of 10
based on the firearm rarity they have not gone down but appreciated.

 

[M29since14]

Does any one else wonder about the "sales" of these extraordinarily high-priced items on Gunbroker? Can these deals be "rigged" for one purpose or another - or are my suspicions unwarranted?

I disagree that there is nothing of interest at reasonable prices on Gunbroker. I have purchased a few rifles on GB in the last year or two. The sellers have been straightforward with me. I wouldn't have bought the guns if I didn't think the prices asked were in line and reasonable. I do not waste much time marveling at auctions with ridiculous prices. Others can handle that in my absence. I am not running down the OP's handgun, but really, $2800 for a Model 650... ? Hard to understand what is going on there as being rational.

 

[raylan007]

In my humble opinion and I will admit I use GB on a regular basis things need to be taken down a notch. On the other hand there may be something to the rich getting richer and being able to perpetuate the sometime unrealistic prices on GB. It is more about who has the biggest pair. When I see an auction going sideways in that regard I drop out and live to fight another day, If you have been around the quickly transforming GB phenomenon you can note that the really out of sight prices are usually being driven by folks that have a few previous buys on there feedback, so they either didn't do there pricing research or have enough money where they don't need to.

 

[jtcarm]

GB auction prices but actually in the long run, w/few exceptions, they mirror the marketplace

My thoughts exactly.

But: Which came first, the chicken or the egg? IMO, the rest of the market tends to follow auctions more than the other way around. You no longer have to pay attention to paper value guides, collector's associations, or hanging out endlessly at gun shows to get an idea as to going prices. Everyone, including dealers, search GB completed auctions. What's worse, low-information sellers note the high prices, and say "oh boy, my rare gun is worth big bucks!", without taking to account condition. So they assume their non-original 50% gun is worth the same as an all-original 95% gun.

Also if you look closely at the completed items and note the # of bids and whether reserve prices were met, I'd guess maybe 3% of GB auctions actually result in a sale.

GB is no different that any other auction site. Everyone thinks they can find a bargain and love the excitement of bidding. There are deals to be found, but you have to spend a lot more time searching than I can justify and sometimes be willing to take a risk.

 

[raylan007]

I've been looking for an S&W 66 4", in nice condition but to shoot. I've posted here and on another forum and watched the various auction sights. I see guns with scratches, rough grips, rubber grips, mismatched boxes, dirty and they all seem to bring very good money or do not reach an obscene reserve. There is nothing very rare about a 66. I can't explain the current market but it does seem to be "hot". I'm still looking for the 66 4" if anybody has one for sale.

I would hang in there as I have purchased 3 very nice M66 in the past few months. I found a -3 4" for $500 that I later sold due to finding a even nicer P+R M66 no dash for under $500 that I just cleaned up. I was even lucky, no extremely lucky to have come across a M66-4 2.5" for $500. All three came with the original grips as the gun only. I say this to encourage you not flaunt my good fate. Hang in there and one will come to you. I found the -4 2.5 on GA, the -3 and -4 4" on GB. If you have the time as I do (retired) the better deals seem to close mid week at a obscure hour of the day. Honestly I was surprised by the two 4" as $500 doesn't get you much on GB these. I also use GI but usually find there fixed price sales on the high side. It might also help to sign up on GA for their daily email that they offer listing filtered from your searches. Good Luck

1. M66-3 4"
2.M66-4 2.5"
3.M66 no dash 4"
Note: The grips were changed from the original (dated to the gun) in photos 2 and 3

 

[one eye joe]

IT DOES NOT MATTER ONE IOTA WHAT THE FORUM PUNDITS SAY, OR THE BLUE BOOK SAYS. THE TRUE VALUE OF ANY ITEM IN A FREE MARKETPLACE IS EXACTLY WHAT THE HIGHEST BIDDER IS WILLING TO PAY FOR IT---INCLUDING THE REVOLVER POSTED BY THE OP. THAT'S SIMPLY ECONOMICS 101…..

YOU MAY NOT BE WILLING TO PAY THAT PRICE---AND THAT IS WHY YOU DON'T OWN IT. THERE IS OFTEN A DISCREPANCY BETWEEN WHAT YOU MIGHT BE WILLING TO PAY, AND THE TRUE MARKET VALUE. THAT IS WHY PEOPLE DROP OUT OF THE BIDDING IN AUCTIONS. WHAT YOU ARE WILLING TO PAY HAS NO IMPACT ON WHAT AN ITEM IS ACTUALLY WORTH ON THE FREE MARKET. IT IS ONLY A STATEMENT OF WHAT THE ITEM IS WORTH TO YOU, PERSONALLY…..

MANY PEOPLE GO THROUGH LIFE LUSTING AFTER FIREARMS THAT THEY ARE AFRAID TO SPEND A FEW EXTRA DOLLARS TO OWN. AS THEY SIT BACK, PRICES FOR THESE FIREARMS CONTINUE TO INCREASE, AND THEY CONTINUE TO DROOL ON THE SIDELINES. I HAVE MADE MANY PURCHASES ON GB. I HAVE SOMETIMES SPENT MORE THAN WHAT I HAVE WANTED TO. IN EACH INSTANCE, I HAVE BEEN GLAD THAT I DID. ALL OF THESE FIREARMS ARE NOW ROUTINELY FETCHING MORE THAN I PAID FOR THEM. IN SOME INSTANCES, I HAVE NOT SEEN ANOTHER OFFERED FOR SALE, IN THE YEARS SINCE I PURCHASED MINE. IMHO, LIFE IS TOO SHORT TO NOT ENJOY A FIREARM THAT YOU CRAVE, FOR WANT OF A BARGAIN PRICE………

 

[murphydog]

I think of GB and the other auction sites as being able to shop at the world's largest gun store, drawing from the entire country (at least the part that is computer savvy), at all times. The downsides are not being able to examine the items in question (good reputations and photos help here) and the in-person bargaining. I'm usually fine not dealing with the latter .

As far as prices realized, they are what they are, with the understanding that outliers exist. Member 5Wire (Bob) tracks sales prices over time and I would guess this 650 would be 99th percentile on the curve.

 

[one eye joe]

AS A SELLER ON GUN BROKER, THE ONLY THING THAT I HAVE IS MY REPUTATION. THE VAST MAJORITY OF US ARE HONEST FOLKS WHO VALUE OUR REPUTATIONS AND OUR FEEDBACK. THAT IS WHAT REPRESENTS US TO THE WORLD…..

MOST OF US HAVE A 3 DAY, NON-FIRING INSPECTION PERIOD, WHEREIN YOU CAN SHIP THE FIREARM BACK, IF IT IS NOT AS DESCRIBED. I HAVE YET TO HAVE A FIREARM RETURNED TO ME. I HAVE HAD A COUPLE OF BUYERS STATE THAT THE FIREARM WAS BETTER THAN EXPECTED. YOU CAN CHECK THE FEEDBACK ON A SELLER EASILY, BEFORE YOU BID. IF A SELLER HAS A HISTORY OF A+ SALES OVER A PERIOD OF YEARS, LIKE I DO, THE ODDS ARE THAT YOU CAN BUY WITH CONFIDENCE, THAT YOU WILL NOT HAVE A PROBLEM WITH YOUR TRANSACTION….

 

[ben_g1]

After dropping out of the gun hobby in the 70's (family and kids took over). I jumped back in about 5 years ago. I decided to concentrate on 27-2's in the 3 1/2" barrels and short barrel 19's.

I was buying excellent to collector grade 27-2's for around $700. to $900. and people were complaining that was too high and saying they would not pay that much.

I hear the same complaints today at $1200. to $2000.

Glad I bought some when I did, who knows what the future price will be. I'm betting it won't be cheaper.

 

[Comrad]

I find just about most of the really nice .22WLR revolvers are crazy expensive. My two favorites are the Model 650 and the Model 45 Post office gun, but oh those prices.

 

[ankona]

I just wish they would let the auctions determine fair pricing instead of instituting insanely high reserve pricing or buy it now pricing.

 

[Lee's Landing Billy]

IT DOES NOT MATTER ONE IOTA WHAT THE FORUM PUNDITS SAY, OR THE BLUE BOOK SAYS. THE TRUE VALUE OF ANY ITEM IN A FREE MARKETPLACE IS EXACTLY WHAT THE HIGHEST BIDDER IS WILLING TO PAY FOR IT---INCLUDING THE REVOLVER POSTED BY THE OP. THAT'S SIMPLY ECONOMICS 101…..

YOU MAY NOT BE WILLING TO PAY THAT PRICE---AND THAT IS WHY YOU DON'T OWN IT. THERE IS OFTEN A DISCREPANCY BETWEEN WHAT YOU MIGHT BE WILLING TO PAY, AND THE TRUE MARKET VALUE. THAT IS WHY PEOPLE DROP OUT OF THE BIDDING IN AUCTIONS. WHAT YOU ARE WILLING TO PAY HAS NO IMPACT ON WHAT AN ITEM IS ACTUALLY WORTH ON THE FREE MARKET. IT IS ONLY A STATEMENT OF WHAT THE ITEM IS WORTH TO YOU, PERSONALLY…..

MANY PEOPLE GO THROUGH LIFE LUSTING AFTER FIREARMS THAT THEY ARE AFRAID TO SPEND A FEW EXTRA DOLLARS TO OWN. AS THEY SIT BACK, PRICES FOR THESE FIREARMS CONTINUE TO INCREASE, AND THEY CONTINUE TO DROOL ON THE SIDELINES. I HAVE MADE MANY PURCHASES ON GB. I HAVE SOMETIMES SPENT MORE THAN WHAT I HAVE WANTED TO. IN EACH INSTANCE, I HAVE BEEN GLAD THAT I DID. ALL OF THESE FIREARMS ARE NOW ROUTINELY FETCHING MORE THAN I PAID FOR THEM. IN SOME INSTANCES, I HAVE NOT SEEN ANOTHER OFFERED FOR SALE, IN THE YEARS SINCE I PURCHASED MINE. IMHO, LIFE IS TOO SHORT TO NOT ENJOY A FIREARM THAT YOU CRAVE, FOR WANT OF A BARGAIN PRICE………

This should pop up automatically every time someone questions GB prices.

 

[Jim1392]

In my humble opinion and I will admit I use GB on a regular basis things need to be taken down a notch. On the other hand there may be something to the rich getting richer and being able to perpetuate the sometime unrealistic prices on GB. It is more about who has the biggest pair. When I see an auction going sideways in that regard I drop out and live to fight another day, If you have been around the quickly transforming GB phenomenon you can note that the really out of sight prices are usually being driven by folks that have a few previous buys on there feedback, so they either didn't do there pricing research or have enough money where they don't need to.

I agree with the last part of the post about buyers with little or no feedback. The last few guns I have bid on I've been outbid both times by buyers with NR. And they paid way more then I thought the guns were worth. But on the other side of the coin the last 3 guns I have sold on GB went for way more then I expected from 2 buyers with NR and with one with one prior purchase.

 

[Irn-Bru]

Any guns sold through GB auctions represent what the market value is. These older guns are getting scarcer and more expensive. It makes no difference how many new ones Smith put out, the older pre-lock models are the ones that are desired. These are only going to keep climbing in price, not decline.

 

[TNDave]

We have to face the fact that unfortunately Smith revolvers have become the latest thing for people. On Gunbroker there will always be wealthy guys for whom $1000 is like $10 to most people. They have the money and want certain guns. They are going to pay what it takes to get them. I think Smith prices are a long way from bottoming out as they just started really going up a few years ago. I don't see nearly as many good Smiths locally any more because what I consider a "good" one hasn't been made in about 30 years now. Time has slipped by. If you want a certain gun you better snag it now. They aren't going to get cheaper any time soon.

 

[one eye joe]

After dropping out of the gun hobby in the 70's (family and kids took over). I jumped back in about 5 years ago. I decided to concentrate on 27-2's in the 3 1/2" barrels and short barrel 19's.

I was buying excellent to collector grade 27-2's for around $700. to $900. and people were complaining that was too high and saying they would not pay that much.

I hear the same complaints today at $1200. to $2000.

Glad I bought some when I did, who knows what the future price will be. I'm betting it won't be cheaper.

WELCOME HOME, AND THANK YOU FOR YOUR SERVICE, BROTHER. ALSO, WELCOME BACK TO OUR HOBBY---OR MORE CORRECTLY, FOR ME ANYWAY--OUR WAY OF LIFE…..

YOU ARE A PRIME EXAMPLE OF JUST WHAT I AM TALKING ABOUT. HAD YOU NOT HAD THE COURAGE TO SPEND A LITTLE MORE THAN YOU REALLY WANTED TO, AS I WAS, WE BOTH WOULD BE SITTING ON THE CURB, STILL DROOLING, AS THE PARADE OF FIREARMS WE COVET MARCHED ON BY…..

FROM OUR COLLECTIVE EXPERIENCE, WE BOTH KNOW THAT LIFE IS VERY FRAGILE, AND SHORT AT BEST. ENJOY IT TO THE FULLEST, WHILE YOU CAN. DON'T LET A FEW BUCKS STOP YOU FROM REALIZING YOUR DREAM………...

 

[Zipdog]

Anyone have an educated guess as to what percentage of all used guns sold in the USA are sold on internet auction sites. My guess less than 5%. If that would be true how can that information as to prices be considered a true reflection of prices paid overall. I know that privet sales are not recorded for all to see but surely there are people out there who know something lots of us don't. Sometimes I limit myself to a pretty small world. Lots of things happening I never see.

 

[mmesa005]

To add to what others have said - it's is a game of patience but If you wait long enough you find what you are looking for. I have also found that placing a WTB/WTT in various forums works especially if you have something to trade.

Also I have used Guns For Sale - Lionseek as it covers various sites in a single search.

 

[Daniel71]

I just wish they would let the auctions determine fair pricing instead of instituting insanely high reserve pricing or buy it now pricing.

My Gun Broker rules and experiences:

1. I don't even look at guns that have a reserve price.

2. I decide when I first look at a gun on my maximum bid, and if the price goes above that I let it go.

3. I've purchased a number of S&W 640's and a few other older S&W revolvers this year at what I consider fair prices. (I don't have any need for original boxes or tools so I probably win auctions that real collectors ignore.)

4. I've been looking for a few old Beretta models and have not been willing to pay what they are asking for any of them. Maybe someday I'll win one of those auctions or maybe not, but if the price goes above my limit I quit.

5. In most cases, the guns I've bought look better in person than in the photos.

6. I don't buy Colts.

 

[Peak53]

Anyone have an educated guess as to what percentage of all used guns sold in the USA are sold on internet auction sites. My guess less than 5%. If that would be true how can that information as to prices be considered a true reflection of prices paid overall. I know that privet sales are not recorded for all to see but surely there are people out there who know something lots of us don't. Sometimes I limit myself to a pretty small world. Lots of things happening I never see.

Agreed. The prices on GB reflect the value of guns in the GB market- not the whole market. They tend to go to the highest common denominator.