Estate Auction purchases


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Baba Louie
May 3, 2007, 10:09 PM
Anyone ever actually get a good deal from an estate auction?

Here's one happening Sat May 5 in Pahrump NV (northwest of LV about 60 mi.) where a collection of 500 arms plus a few bayonets will be up for grabs.
http://www.nyeauction.com/auctions/2007/auction_050507.html

Might be an interesting way to spend a Saturday. It's either that or go see Spiderman 3. Hmmmm, maybe I can do both.

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hexidismal
May 3, 2007, 10:16 PM
I have only heard tell of outstanding estate auction sales, I've never managed to find one locally that was selling firearms. I do seem to recall a thread or two here on THR about some such deals though. That particular one you linked to does look pretty amazing. From the site it looks like some if not most of the bidding will be done online before the event.

PistolNewbie
May 3, 2007, 10:17 PM
Estate Auctions are always a wild card and can be full of surprises. Over the years we have gotten hellish great deals on a variety of items and other times, you think people have lost their marbles due to the rediculous high prices they are paying for stuff. If I were you, I would go and check it out. You may know something about a particular item that nobody else does and bag yourself a bargain. Just don't get caught up in a bidding war and you'll be fine! Go to the auction, you can see Spiderman 3 anytime!

Phaetos
May 3, 2007, 10:26 PM
Did I read that right to say 500 guns??!!??!?!?!?! Gotta find SOMETHING there to buy.

How do you find out about estate auctions? I thought they were supposed to put them in the paper, but our paper never has any or maybe we just never have those kind of auctions :)

Edit:
Soooo .. anyone done the Internet bidding thing? That seems like fun ... oph boy ..I gotta quit looking at this.

Baba Louie
May 3, 2007, 10:33 PM
OK, I'm jazzed.
You've got to take a look at some of these and the high bids at this time.
I've got some money burning a hole in my pocket and I'm SURE my Mom would love for me to spend some of her Mother's Day gift money on her favorite little boy...

A 1917 S&W for $ HOW MUCH???
A Pre 27 for $250 as of right now (there's a couple of them in there)
A Pre 64 Model 70 .30-06


sigh...

arjppj
May 3, 2007, 10:37 PM
my stepdad got a sterlingworth SxS for $200....not too shabby

Elza
May 3, 2007, 10:40 PM
Iíve completely given up on auctions around here. My fellow Texans tend to go ape-squat when the bidding starts. Iíve seen things go for twice what it would cost new just because of Ďauction feverí.

glockman19
May 3, 2007, 10:44 PM
Thanks I'll be putting in a bid for a couple of things. Good thing my Blue book of guns came in the mail today. I would like a deal but won't overbid.

SWModel19
May 4, 2007, 01:10 AM
What the heck was that Lorcin doing in there? It had a $65 bid just before I posted this!:confused:

Baba Louie
May 4, 2007, 08:14 AM
Well, I found at least 24 items I think are worthy of entering into spirited bid with some other lucky contenders. :p

Probably won't go very high or last long, but you never know... could get crazy. Not sure about bidding online... think I'd rather go in person and see if they allow any rudimentary inspection of bore, condition, etc.

Dr. Dickie
May 4, 2007, 08:29 AM
Every great deal I have heard about (personally) has been from someone at an estate sale.
Usually the line, "The widow said he only paid $50 dollars for it," is often heard.:evil:

220_Swift
May 4, 2007, 08:56 AM
My father and I used to go to gun auctions quite a bit. But it seems that the majority of people lose 60 IQ points just walking in the door.


And this place charges 10-15% buyers premium, which is pretty steep.

ilbob
May 4, 2007, 09:31 AM
I bought some guns at an auction once. Got decent deal. a high standard target pistol, no magazines, for $110. a Mauser rifle for $30. but that was almost 20 years ago.

I used to go to more auctions looking for coins and guns, but there have been so few deals of late that I stopped going.

I am not sure just what it is about an auction, but I have seen people pay $15 each for proof sets that were available in quantity at any coin store for $5.

OTOH, now and then there are deals. But you have to go to a LOT of auctions to get the deals. A friend of mine who is a coin dealer goes to 3 or 4 coin auctions every month. he tells me about the great deals he gets, and about the idiots who are also there buying common low end stuff at premium prices, then paying 15% on top of that.

In this particular auction, by the time you paid the 15% Internet bid fee, plus the shipping fee, plus the FFL fee, you would need to have one heck of a deal to make it worth your while.

UKTN
May 4, 2007, 09:43 AM
The only estate sale I went to that had some guns the prices were over the top. $280 for a standard Ruger 10/20? When I asked why I was told people who couldn't buy legally in stores would pay high prices to get them at auctions.

ARGarrison
May 4, 2007, 10:19 AM
I have purchased one rifle at an estate sale. It was a No1 MkIII* SMLE. Good deal, no, fair deal, yes. I've seen alot of firearms sold, both high end and pot metal junk. Passed up a few handguns I could have bought at fair price. Passed up many more firearms because you could by it cheaper new from a store.

On a side note every action I've been at had a FFL do the transfure. So no "loopholes" that I've seen. The FFL ussually charges something to do the paperwork, here it's anywhere from $5-$10 more over the cost of the firearm.

Kingcreek
May 4, 2007, 11:19 AM
I've found some great deals at estate auctions but not in recent years.
Sometimes an auction with a lot of other stuff and only a few guns (ie farm sale etc,) will be better, sales with lots of guns attract lots of gun people and bidding can go nuts.
recently, I tried to buy a winchester model 42, 410 pump on an estate sale. I knew it was worth $1000-1200 but I watched it sell for $1650.

MrDig
May 4, 2007, 11:42 AM
There are some excelent deals in that Auction, Some were already priced to the point where bidding will no longer make them a bargain.

the naked prophet
May 4, 2007, 01:29 PM
I've seen a used Kel-Tec P3AT go for $375 at the same auction where a pre-64 Winchester 94 .30-30 in very good condition went for $190. I wish I had jumped on that, but if I had, I couldn't have afforded my excellently-smithed S&W model 29-3 for $500.

ilbob
May 5, 2007, 09:26 PM
I went and looked at a couple of pages of the prices relaized. I did not see any rip roaring bargains.

Baba Louie
May 5, 2007, 09:42 PM
Noticed that as well.

The Lorcin L380 only ended up costing $200 (+ markup, taxes, etc) where GunsAmerica has one for $85.

Such a deal.

Still, I do hope the family of the deceased ended up realizing SOME of the money invested in firearms over the years (once they pay any estate taxes or whatever it costs to die nowadays)

Moondoggie
May 5, 2007, 10:07 PM
"Auction Fever" strikes around here bigtime whenever guns are involved.

I've only taken one home...a .30 Luger in pretty good shape for $355. I'd discussed it with my local FFl, who is also a friend, and decided that I'd go to $400. Besides, my wife was interested in having it so I didn't have to worry about 'splaining myself when I got home.

I haven't looked at the site yet, but if I ever went into an auction and they told me I had to cough-up 15% above the bid price to the auctioneer, I'd turn right around and head for home. That's NOT how it works at any auction I've ever heard of.

glockman19
May 5, 2007, 10:59 PM
I saw the auction Was interested in a couple of firearms. Winchester 70's Springfield Garand's and the two AR's. After consulting the Blue Book of Guns and cauculating the 15% buyers premuim and taxes+ FFL there were no real DEALS.

Oh well it was fun to window shop.

ilbob
May 6, 2007, 09:16 PM
I haven't looked at the site yet, but if I ever went into an auction and they told me I had to cough-up 15% above the bid price to the auctioneer, I'd turn right around and head for home. That's NOT how it works at any auction I've ever heard of.

Its very common for auctions of collectible items such as coins. Its not as common for general auctions. Its also not uncommon for auctioneers that accept Internet bids to charge extra for them, something that seems counterintuitive to me.

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