I was at an auction once where an old guy with a pre-teen was bidding a Henry .22 lever action to over $1000 dollars.Yeah, once the bidding starts it'll get stupid. Most auctions that I've been to sell for above new prices. Even seen people pay up to 10 dollars for .22 ammo bagged up in lots of 50.
I showed him on my phone where he could buy that rifle for 1/3 that price new but he continued to bid. I think it ended up at $1200 or so and he bought it. Told me he told his grandson he wasn’t going home without a gun.
Pure stupid but that’s how auctions for guns go.
It’s written into my will that my collection is to be sold at auction when I croak. The sons can do what they want with the money.