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Gun Auction, I think these guys are nuts

Discussion in 'General Gun Discussions' started by gordy, Jul 31, 2011.

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  1. gordy

    gordy Member

    Jan 15, 2010
    south central Minnesota
    Last week I went to a gun action with my father inlaw.
    There were lots of guys there. Every type from bib overalls to suits and ties. Many nice firearms of all types.
    A 3rd gen colt sa in 32-20 $1,600
    A 3rd gen colt sa in 38-40 $1,400
    A 2nd gen colt sa in 357 $1,200
    A 1st gen colt sa in 32-20 $2,200
    Remington 700 in 30-06 $1,000
    ruger 10-22 for $350
    Colt 45acp 1980 production very nice shape but used $900
    Old winchester lever actions I think they are like 1898's or something and they were going for $2,500 to $3,000.
    A saco in 7mm mag would go for about $400.
    A box of old reloading books(8 books) that were at least 15 years old went for $80.
    Uberdie BP remington replicas were going for $400.
    torkofs were going for better than $300.
    Almost every used firearm sold for $100 to much. And the stuff that was new. I could not believe the prices they were bringing.
    Over 150 firearms sold that day and it was the same from start to finish.
    Theys guys had way to much money to spend or I had not enough.
  2. Old Fuff

    Old Fuff Member

    Dec 24, 2002
    Well the Colt Single Actions, particularly if like-new-in-box are not out of line. I'll let others comment on the rest. Auctions tend to attract top prices as buyers bid against each other.

    Unfortunately the buying power of our U.S. dollar is going down, and some folks that have an excess to spend are putting their bucks into something they think will keep they're value.
  3. Shear_stress

    Shear_stress Member

    Apr 27, 2005
    All I gotta say is that, inflation or not, never, ever underestimate the awesome power of auction fever.
  4. mortablunt

    mortablunt Member

    May 1, 2011
    Auctions are a great way to inflate prices.
  5. wideym

    wideym Member

    May 30, 2007
    I once went to a local drug task force auction. There was all sorts of items, beat-up cars and trucks, tools, and about 30 pistols and long guns.

    There was one man in his late 60's or early 70's who was out bidding everybody for the firearms. He was giving over $100 for beat up marlin model 60's and single shot shotguns. The only nice gun was a excellent condition Colt Delta Elite that the man paid $930 for.
  6. jdietz

    jdietz Member

    Apr 28, 2011
    Bluefield, WV
    Auctions where firearms are being sold is a good place top stay away from.

    At a local (Bluefield, VA) auction I saw a Raven .25 bring $165.00 & a Hi-Point 9mm carbine bring $550.00.

    I also saw the same auctioneer try to sell a Spanish .308 Mauser as a Springfield. It was marked on the barrel under the muzzle as a Spanish .308 and he was listing it as a Springfield because that was what the seller said it was.
  7. Cop Bob

    Cop Bob Member

    Feb 15, 2011
    Deep in the Republic of TEXAS
    My persona experience with auctions is very much hit and miss...
    I find that if there are heavy gun listings in the promotional materials, it brings out amateurs and serious collectors as well.. it can go through the roof..

    We occasionally hit auctions for metals, once in a while we will score big.. more often than not, some amateur will show up and bid it up to where the margins are so low that it is just not worth it. Gypsies being the biggest offenders. Then they will show up at our yard later with the same material, and wonder why they lost money. Same with equipment.. especially heavy equipment.. We have found that large South Texas auctions, like Richie Brothers is a good example.. If there are bidders there from South and Central America.. just go home, they will bid close to retail on used up stuff.. But we have traveled to Ft Worth for their auctions and cleaned up..

    Seems like the prices that you listed in your experience are pretty much high retail...
    With collectible and older guns, my best experiences have been private estate sales, not associated with auction houses.. But EVERY NOW AND THEN...
  8. DCR

    DCR Member

    Jan 10, 2003
    Not neccessarily too high there...

    The devil's in the details, which were lacking in the post. Obviously the OP's familiar with the Colt revolvers, but we'd need to know more about the specifics of the other guns to decide whether they went for at or near market.

    The 10-22 - was it an earlier model with a nice walnut stock? Checkering? Was it a .22 mag? Old ones with the nice walnut are obviously worth more than those with the cheap wood, and .22 mag is automatically worth more, especially in that configuration because not many were made back then.

    The lever actions could have been (obviously Pre-1964) 1873's, 1892's, 1894's, 1895's...many varieties, in obscure calibers, which are all easily in the value range OP described.

    Obviously the other guns did go on the high side (except possibly the Sako), and the OP is, in my experience, probably right on in his observations about those.

    Many folks are surprised how high guns they are not necessarily familiar with are selling for - folks who follow the guns they are interested in usually don't have enough information about guns outside their narrow area of interest to fully understand all the many factors that go into pricing for all the rest of the guns out there.

    This is not a criticism of the OP's post - not at all - I sincerely appreciate the market information - I'm just adding my $.02 - - - keep the change.
  9. CraigC
    • Contributing Member

    CraigC Member

    Jan 27, 2006
    West Tennessee
    Without knowing any particulars (everything is in the details with old guns) the 3rd generation Colt SAA's were high but the 1st and 2nd generation guns were very low. With the leverguns, they may very well have been worth that much or more. If the 10/22 was a rare variation or early fingergroove model, it could easily be worth $350 or more. Some old books are collectibles too. I've paid $50 for books that were worth $100. What may be just a worthless old gun book to one person is a gem of a copy of Elmer Keith's "Sixguns" or Skeeter Skelton's "Hoglegs, Hipshots and Jalapeno's" or Phil Sharpe's "Complete Guide to Handloading". You just have to know what you're looking at.
  10. Bubbles

    Bubbles Member

    Apr 26, 2004
    Eastern Panhandle of West Virginia
    There's an auctioneer in my area who doesn't hold an FFL. He does a lot of estate auctions that have firearms, and many folks will pay a premium for an "off the books" gun.
  11. dickttx

    dickttx Member

    Feb 9, 2011
    Fort Worth
    I have noticed, from farm auctions 40 years ago right up to the gun auctions of the present day, that everyone bidding is an expert and knows that old rusty gun is worth a fortune.
    Went to a gun auction a few months ago (couple of times) and I could not believe what people were bidding. On top of that, they had to pay a 15% commission and 8.25% sales tax. I'll bet there were some really surprised people when they checked out.
  12. oldbear

    oldbear Member

    Nov 1, 2009
    South East Coast
    Sir, sadly it's the latter. Prices have gone out of sight over the last few years and are not showing much of a return to normalcy.
  13. CZguy

    CZguy Member

    Mar 25, 2004
    Boy isn't that the truth.
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