I have acquired a number of firearms from live auctions. I have to keep in mind is the additional cost beyond bid price. Attending a live auction will reduce the buyer's premium especially if you pay cash vs. credit card. I am typically faced with a 10% buyer's premium. Then I have to pay sales tax which can vary from 8 to 10%. If I am out of State, resident of Alabama buying in Georgia, I have to pay shipping cost to my in State FFL. Then there is the FFL Fee. All total it can add significantly to the cost of a firearm. If the auction is on-line, then the buyer's premium can run as high as 18 to 25%. You really have to score a low bid price to come out ahead.
I recently saw a Colt commercial, C serial number prefix, 1911 in very good condition with a very low three number digit serial number go for a $4,000.00 bid price. The SN was C138 or very close serial number with a manufacture date in 1912 or there about. I recently paid $1,700.00 for a Remington Rand M1911A1 in exceptional condition. In my opinion it was a better value than a Civilian Marksmanship Program (CMP) arsenal rebuild (with most likely mix-matched parts including slides/frame) for over a $1,000.00 and a long wait period if you are lucky. I carried a Remington Rand in Nam. I also own a Colt M1911 with a lot of character but all correct matching parts manufactured in 1918.