Sunday Gunday, July 9th 2023: How to Buy Great Guns at Firearms AuctionsBy Dave Buffington
“They’re crazy!” You hear this all the time when it comes to live gun auctions. People love to rant that people pay too much for too many firearms at too many auctions. It’s natural. I’ve been attending gun auctions for over a decade, sometimes as many as forty a year. I’ve learned to expect a fair price for most items. Some, but not all, have been great buys. Two years ago, I purchased a competition-grade STI 1911 that was in excellent condition at a live gun auction for $670. At the height of gun-buying fever, I bought a rare, highly-desirable Ansch?tz MSR 54.18 in brand-new condition for only $1,800. Two weeks later, I sold that Ansch?tz 54.18 MSR for $3,000 This $1200 gain represents 66% profit. Not bad for some savvy shopping.
Sweet SAKO L461 Score in Auction
Can you get a great deal at an auction? Absolutely. Above is a SAKO L461.222 Rem Vixen that I bought at auction for $1500.00, including a Leupold 3-9x40mm Vari-X II scope. Note the highly-figured wood. My SAKO L461 has a “deluxe” model, with rosewood grip cap and forearm tip. The Custom Shop in Montana, a purveyor fine firearms, sells a similar.222 Rem SAKO (below) for $3995.95 with plain wood and no scope. * I got my SAKO at 38% off the Custom Shop price. SAKO fans will notice that the L461 comes with a 5-round internal top-loading magazine, while the older L46 only has a removable 3-round clip. Compare the author’s SAKO L461 ($1500) purchased at an auction with this Custom Shop Inc. SAKO L46 ($3995.00). Live auctions can be a great way to get some amazing bargains.
Can you make an error? I have bought junk and overpaid for it. I’ve learned knowledge is the best way to avoid gun buying mistakes. Next topic: Know the auctions
It takes some research to find live auctions, especially when the pandemic is in full swing. Estates must still be settled, collections must be reduced, and guns still have to be sold. You can also consult your local newspaper or shoppers guides. Use online auction search services like AuctionZip.com. Once you’ve found a auction, make sure to read the rules. Some conduct background checks. Some don’t. Some charge sales tax. Some don’t. Some charge “buyer’s Premium”. Some don’t. Ask if you’re unsure.
It’s easy to get sucked into the beauty of the hardware at all-gun auctions. But some of my worst purchases have been impulse buys. So make a list of the guns you want, whether for target shooting, collection, or whatever, and stick to it. Research the guns you are interested in, and be sure to understand their potential pitfalls. Some Winchester 52s can be prone to “crack of Death”. Some Brownings dating from the late 1960s and early 1970s suffer from “saltwood”. You must know which Brownings are affected.
Newbies to auctions are often concerned about how to bid. I know I did. But don’t. It’s the auctioneer’s job to get your bid. Once a good auctioneer spots that you are a bidder – believe me – he will not lose you. The key is to be spotted. Don’t be afraid. The auctioneer is likely to start the bidding with a reasonable number. He will then, as a show, start bidding lower until someone bids. Then, he will start going up. When you are ready to jump, raise your hands and make sure that the auctioneer sees you. If you’re unsure, shout something. (“Here!” It’s fine to say “Here!” Don’t worry about technique after that. Next time the auctioneer glances at you, just nod yes or nay. Do not forget this important detail. The price that the auctioneer calls out is the price that he wants, not the one he has. If you bid $250, for example, you will hear him call the next increment — “$300, $30, did I hear $300?” Misunderstanding the process can lead to you bidding against yourself. It’s embarrassing, but 99% of the auctioneers will not allow it to happen.
Auction fever is similar to buck fever. You are trying to remain still while your heart is singing “Wipe out”. You must, absolutely must, decide on the maximum amount you will bid for a firearm before the bidding begins. Be sure to include the full cost of the gun, including the sales tax, background checks fees, and any buyer’s premium. You don’t want the mortgage money to be spent, but there is always another opportunity. For example, last fall I went to an outdoor auction hoping to get a good deal on a Mauser made, numbers-matching, K98k. Ha! The gun sold for $3,200 despite the fact that there were less than 50 bidders who braved the drizzle. (I gave up at $1,500.
Is it the K98k sold at $1,200? Or $3,200. Or $3,200? I managed to buy a Mauser K98k with matching numbers for only $1,200. That’s a difference of $2,000. Crazy? Yes… Crazy good. *Custom Shop, Inc. is featured on Outdoor Channel’s TV show “The Gunfather”. Custom Shop, located in Hamilton, Montana has hundreds of rare, collectible guns, including high-end shotguns, pistols and rifles. Custom Shop, Inc., in addition to selling used guns, is an Authorized Colt dealer.
Similar Posts:Tags: Auction Bidding, David Buffington, Live Auction, Mauser K98k, Rifle Auctions, SAKO L461
