Somebody got a peach today - K32 Masterpiece

[jmace57]

Someone made a very good deal today on a K-32 Masterpiece with box (circa 1954) on a proxybid auction. I hope it was from somebody here on the forum.

I think it's OK to post a link to a closed auction.

(C) FINE AND SCARCE SMITH & WESSON K-32 | Proxibid

 

[rct269]

I'm thinkin' (as opposed to knowin') that "LOT CLOSED", as noted on the Proxibid site translates to the minimum opening bid or the reserve wasn't achieved.

Any and all who speak Proxibid should feel free (and are invited) to straighten me out as needed.

The bottom line here is I'm allergic to paying the add-on/premium for the use of Proxibid, and never have/will use them; never mind I don't know the first thing about them---aside from "There ain't no free lunch!"

I bid by phone. Any and all these sorts of add-ons to the buyers premium folks fuss about aren't there!

Ralph Tremaine

 

[jmace57]

It is a relatively new thing that Proxybid is immediately putting "Lot Closed" after the auction ends. They used to show the selling price for weeks after the auction ended. I can tell you this item DID sell, and for about 35% of what the SCSW says it is worth.

 

[rct269]

As to what these things are worth/sell for, here's what mine went for in the past 3 years and change:

K-32 1st Model, 95% (More abuse than use---fairly scruffy----sorriest gun in the collection.)----$7,135.

K-32 2nd Model (Narrow rib, Satin blue)----97%----$3,825.

K-32 3rd Model (Wide rib, Bright blue)----99%----$3,525.

Either the 2nd or the 3rd had it's box---don't remember which---thinking the 2nd, but------------??

Ralph Tremaine

 

[A10]

Thats a great find, gold box and all. I'd be interested to know the final bid.

 

[444 Magnum]

Sale price was $1500 plus 26% auction fees. 3% discount for cash.
$1845-$1890 plus shipping and possibly transfer.

 

[4K2022]

",,, (More abuse than use---fairly scruffy----sorriest gun in the collection.)

Ralph Tremaine

More abuse than use, I like this description Ralph and (to me) describes most of my collection. Abuse from storage is what comes to mind, holster rash or humidity or sweat.

My question is do you have a copyright on those four words?
I'd like to use them in the future.

 

[4K2022]

Sale price was $1500 plus 26% auction fees. 3% discount for cash.
$1845-$1890 plus shipping and possibly transfer.

I agree, "very good deal" for the buyer, congrats!

 

[Retired W4]

I'd say. 2K for that K32? What a deal.

 

[handejector]

I can tell you this item DID sell, and for about 35% of what the SCSW says it is worth.

Why don't you tell us what it sold for?

 

[rct269]

More abuse than use, I like this description Ralph and (to me) describes most of my collection. Abuse from storage is what comes to mind, holster rash or humidity or sweat.

My question is do you have a copyright on those four words?
I'd like to use them in the future.

No copyright----knock yourself out!

RCT

 

[rct269]

Why don't you tell us what it sold for?

He did---or somebody did.

I've got these pills---supposed to be good for keeping you going---long after nap time. Wanna try one? No charge----for new customers. Refills are available on a convenient daily pay plan.

Try 'em---You'll like 'em----helps you with the girls too!!!

RCT

 

[jmace57]

Why don't you tell us what it sold for?

I figured I'd give the winner the chance to reveal the amount paid. But it has already been revealed above.

 

[handejector]

Why don't you tell us what it sold for?

He did---or somebody did.

I've got these pills---supposed to be good for keeping you going---long after nap time. Wanna try one? No charge----for new customers. Refills are available on a convenient daily pay plan.

Try 'em---You'll like 'em----helps you with the girls too!!!

RCT

Duhhhhh..............
Don't know how I did that.
Send the pill!

 

[Bald1]

Is it just me or does 26% seem very steep. I wonder if seller pays that much as well yikes

 

[Nonno]

It's Morphy auctions, they run on multiple platforms, including Proxibid and LiveAuctioneers. The later is showing the sold price as $1500.

(c) Fine And Scarce Smith & Wesson K 32 Masterpiece Revolver With Gold Box.

 

[rct269]

Is it just me or does 26% seem very steep. I wonder if seller pays that much as well yikes

The only reason it seems "very steep" is because it is. Then again, it's a self-inflicted wound. (I don't know why I'm bothering with this, I'm pretty sure it's written down in every auction catalog---right in front of God and everybody!)

It's been a spell since I bought anything---or even bid on anything at an auction---or even looked at an auction catalog, so the numbers I'm throwing out here are best guesses----as an example. Those of you with auction catalogs can see the real numbers---in black ink----on white paper---hence the description "it's a self-inflicted wound".

Let's start with a buyers premium of 17%. Now let's see about bidding online---through an independent service such as Proxibid. How much does that add on? I have no clue, but they're in business to make a buck; so how about 6%? Now let's pay with a credit card---just because it's so damn convenient. That one I sort of know----3-4%---depending. I've forgotten about any other conveniences, but they're written down in each and every auction catalog--- in plain English---right in front of your face (as the saying goes).

Now let's talk about bidding for just a bit: I bid by phone---chatting with a nice lady more often than not. Her job is to keep you apprised of what's going on AND to relay your bids. Not only that, but she has to do it FAST! I try to make her job a little easier by not bidding. It's always seemed to me making a bid is an invitation to any and all to raise your bid. I let the other folks tend to that foolishness.

Here's my routine: The nice lady calls you (because you registered as a phone bidder). She tells you your lot is coming up. You tell her you won't be bidding---to just tell you when it's time to buy the gun. She breathes a sigh of relief, because you just cut her work load in half---and she loves you for it.

The last time I did the auction bit, it went like this (as noted above): It's time to buy the gun. You've already decided you're willing to pay $5,500. She says, "He's at $7,000, do you want to go $7,500?" You go into high gear trying to do third grade arithmetic in your head---Let's see, $7,500 times 1.17 is-------too much!! Then you say, "No Maam, thank you, I'm out!" That's if you've got a brain in your head! Lacking a brain in your head, you might very well bid the $7,500---and guess what's going to happen next?!!

Ralph Tremaine

 

[444 Magnum]

You've already decided you're willing to pay $5,500. She says, "He's at $7,000, do you want to go $7,500?" Then you say, "No Maam, thank you, I'm out!"
Ralph Tremaine

I think you've been monitoring my phone!

 

[jmace57]

I agree that the fees are pretty bad. But I always include those fees when considering my bids.

I will say, having sold 55 guns in a Morphy auction a couple of years ago, that they make out like bandits. SELLER'S commission is between 10%-25% - then add the 20+% BUYER'S commission and they make a ton of money.

 

[Nonno]

Understood the buyer pays a huge amount in fees, and the auction house makes a lot of money. But, bottom line, for you as the seller, how did you end up? Was the final amount you pocketed better than you could have done elsewhere?


I know places like Cabelas/Bass Pro pay about 66% of what they will retail for, typical LGS's pay 50 to 60% of retail... Gunbroker you lose maybe 11 to 15%. Sounds like with the auction houses you sell for about the same percentage as the brick and mortars, but do they generate higher or faster sales?

I will say, having sold 55 guns in a Morphy auction a couple of years ago, that they make out like bandits. SELLER'S commission is between 10%-25% - then add the 20+% BUYER'S commission and they make a ton of money.