Farm Auction Price of guns

[ok-22shooter]

B-I-L called this morning from a farm auction around Prue OK. Really nice Savage 22lr over 410 break open gun was going to be auctioned. asked what a good price would be. I told him if you could get it for around $400, it would be really good deal but would probably go for more. It sold for $850.
Of the 4 or 5 farm auctions I have been to, about the only thing that sold at a premium has been guns. Not really sure why people will pay 1/3 to 1/2 more than at a gun show. Wondering what others are seeing. if I had a couple of guns to sell, I might contact an auctioneer to see if they would include them in a auction. even with a 15% sell fee, you might make a bit more money.

 

[John6185]

Maybe they were caught up in the excitement of the bidding and sort of "stretched" their checkbook??

 

[rickm]

I have seen it go both ways, back in the summer i was a estate auction and they had about 20 guns 3/4 of them sold way more than they was worth and the 1/4 was fair i got 3 out of the deal that i thought was a fair reasonable price.

 

[Rez Exelon]

Estate sales and auctions are great for people with self control or no control.

 

[scott024]

Best bargains are usually the higher end guns. I swear I've seen beaters bring the same price as the same gun new at the retail store. I think John6185 is right, people like to bid and win. Like a farmer's slot machine.

 

[dlbleak]

Savage 24’s can be a rabbit hole. Series letter, caliber/gauge, tennite or wood stock, checkered or smooth, case hardened or blued etc etc. I stay away from them for that reason. To many variables.

 

[Rez Exelon]

One of my favorite auction stories was a City of Tulsa auction. Found a super nice Leupold rimfire scope (valued around 500-600 back in the day) that I wanted. About 5 lots preceding it was a lot with "3 Eisenhower Dollar Coins, 2 Two Dollar Bills, and 3 Genuine US Currency Silver Certificates". Man that auctioneer was on fire and got $53 from that lot worth basically face value of 10. There were about 6 people bidding.

When the Leupold came up, I just put my card up till the end and some of those same people were looking at me like I was dumb when the hammer price on the Leupold was 180. Eventually I let that scope go for about 450 on ebay. Terrible deal for me.

 

[Catswithguns]

Are you required to fill out a form 4473 at these auctions?

 

[rickm]

Are you required to fill out a form 4473 at these auctions?

It really depends on the auctioneers but by law no. It is considered a private sale the auctioneer is just a person setting the price.

 

[SKATA]

Auctions are eye openers for sure. Pricing for the really vintage / antique guns usually under book value. But you can fork out a couple thousand.
The normal guns that are auctioned I see bidding close to new pricing for just regular every day handguns. People forget about tax and fees which can add another 24% upcharge.
I have only won one auction priced under value. But there were multiples of that firearm. The first high bidder got screwed.
I continually see ammo bid too high. We can buy 9mm branded ammo for $11.99 to $12.99. I have seen these people bid $18 for a box of 50ct then add in the 24% upcharge. ridiculous.