Heartland Outdoors SHUTS DOWN 12-31-13

[jmike314]

http://www.dakil.com/ai1ec_event/heartland-outdoors?instance_id=162

What are the odds of regular folk getting in on this and walking away with a gun or two at a really good price?
Is this something that dealers and shops are going to come in and buy up lots for inventory?

 

[dennishoddy]

What are the odds of regular folk getting in on this and walking away with a gun or two at a really good price?
Is this something that dealers and shops are going to come in and buy up lots for inventory?

Not many dealers will be there. They know what gun prices are, and also know that at gun auctions, the price will put it out of range they can make money on a re-sell.

 

[Poke78]

What are the odds of regular folk getting in on this and walking away with a gun or two at a really good price?
Is this something that dealers and shops are going to come in and buy up lots for inventory?

Depends on your definition of "really good price" and the same definition held by others at the auction. It might be good entertainment and education but not likely to be a place to set your heart on a particular piece at your desired price. I'd register as a bidder just in case and have money in my pocket to execute the sale. Also, don't forget the buyer's premium as part of the price you'll pay and the number of firearms requiring a NICS/4473 process will lead to a wait to wrap up your purchase.

 

[AKguy1985]

I happened to have a layaway, got lucky for sure on that one. Sorry to see the shop close though, most of the staff were nice guys. Picked up my M1A scout yesterday for only the 500 dollar deposit I made a few weeks ago. Pretty crazy deal

wowza!!!!!

 

[FamousAJ]

Depends on your definition of "really good price" and the same definition held by others at the auction. It might be good entertainment and education but not likely to be a place to set your heart on a particular piece at your desired price. I'd register as a bidder just in case and have money in my pocket to execute the sale. Also, don't forget the buyer's premium as part of the price you'll pay and the number of firearms requiring a NICS/4473 process will lead to a wait to wrap up your purchase.

There will be bidding wars so that no one person/business/entity gets a good deal. No respectable busniess wants to see a bunch of guns (that go to someone else to make money on) flood the market at lowwww prices.

Maybe I watch too much TV?

 

[7stw]

What are the odds of regular folk getting in on this and walking away with a gun or two at a really good price? Is this something that dealers and shops are going to come in and buy up lots for inventory?

Mostly private sellers and collectors/individuals will be my guess. Prices will most likely be retail plus 10 percent is quite normal at a gun auction. At this one there will also be a buyers premium. I'm not gonna waste my time going Saturday. There isn't anything rare or super collectible selling and everything in inventory gun wise can be purchased elsewhere. I'm interested in some things that sell on Friday but if I have to purchase whole retail lots to get what I'd like then I won't be buying much if anything.

 

[nemesis]

I happened to have a layaway, got lucky for sure on that one. Sorry to see the shop close though, most of the staff were nice guys. Picked up my M1A scout yesterday for only the 500 dollar deposit I made a few weeks ago. Pretty crazy deal

That's curious. There's one of two possible explanations. First, they're declaring bankruptcy, in which case they're going to stiff the distributor who supplied the M1A. (I'm assuming they're like every other retailer, viz. they buy inventory on credit.) Second, the owner of the store is independantly wealthy and is simply giving away inventory. If the latter, then why the auction?

Very curious.

 

[vvvvvvv]

(I'm assuming they're like every other retailer, viz. they buy inventory on credit.)

Not every retailer does that. Many only stock inventory, but don't buy it until it sells. If it doesn't sell, the retailer isn't out a dime because the shipping both ways is absorbed by the distributor (though in some cases the distributor opts to require the retailer to destroy the merchandise because it's cheaper that way). Some retailers even bill the distributor for the shelf space their non-selling product was taking up.

 

[Old Fart]

If you've never been to a big gun auction you should definitely attend this.
Experience it first hand so you will know.
Maybe even register so you can get in on the bidding.
With a little luck you might go home with an expensive over-priced gun.

 

[yukonjack]

That's curious. There's one of two possible explanations. First, they're declaring bankruptcy, in which case they're going to stiff the distributor who supplied the M1A. (I'm assuming they're like every other retailer, viz. they buy inventory on credit.) Second, the owner of the store is independantly wealthy and is simply giving away inventory. If the latter, then why the auction?

Very curious.

Who said they were declaring bankruptcy? I heard and read that the owner is simply closing the business. Where did you get your information about a bankruptcy?