Author Topic: Firearms Auction - 10/29 - Springfield NE (Read 4645 times)

RLMoeller · « **on:** October 10, 2011, 11:50:29 AM »

There is a rather large collection being auctioned.

300 Firearms
500+ other related items

http://auctionsolutionsinc.com//Huge-Two-Day-Firearms-Auction-a167071.php

RobertH · « **Reply #1 on:** October 10, 2011, 11:54:28 AM »

oh man, why did you have to tell everyone? i was hoping for little competition!

RLMoeller · « **Reply #2 on:** October 10, 2011, 12:20:28 PM »

There is also 600+ lbs of lead, in different mixtures, in one pound ingots they family would like to move. They don't want to sell at scrap prices, and probably wasn't worth including in the auction for whatever reason. Located in Benson area of Omaha.

If anyone is interested, I can provide the contact information.

metaldoc · « **Reply #3 on:** October 10, 2011, 01:25:18 PM »

Buyer's premiums at auctions is a practice I really have a problem with in the first place and I'm not clear on exactly what it is for this auction. In one place it says there is a 15% buyers premium and then when you get to the bid pages it says there is a 5% internet buyers premium. Is that on top of the 15% premium? That adds a lot to the purchase price! ( I know... you just discount the premium amount from what you want to bid. Still makes it a greedy practice IMO)

RLMoeller · « **Reply #4 on:** October 10, 2011, 02:25:26 PM »

I don't know how the auction fees are setup. Thought I would pass this along for those that are interested.

Can you explain what these premiums are and how that works for those that may not have been to an auction before?

metaldoc · « **Reply #5 on:** October 10, 2011, 02:54:07 PM »

Buyer's Premiums is something many auctions houses started using to up their income from a sale. Traditionally, they got a percentage cut from the seller (as it should be IMO). However, as auctioneer's starting competing to get auction sales, they started offering sellers a lower percentage and then tacking it onto the buyers. There are arguments for both sides of the issue but I think it boils down to greed. Auctioneers were making good money on just the selling commissions.

The way it works, if there is a buyer's premium, it will be listed on the sale bill or announced at the auction. If you buy an item for $100 and there is a buyer's premium of 15% you will end up paying $100 + Sales tax + 15% of that total... yep, you even pay the buyer's premium on the sales tax so the auction company is making money on the tax you pay! (Something wrong with that). The buyer's premium goes to the auction company, not the seller who is still paying a commission.

So your $100 purchase + $7.00 sales tax = $107. $107 x 15% = $16.05. $16.05 +$107 = $123.05 Your final cost.

Edited to correct math screwup...

RobertH · « **Reply #6 on:** October 10, 2011, 04:20:47 PM »

oh there's a buyer premium? i might pass on this. i despise buyer's premiums.

metaldoc · « **Reply #7 on:** October 10, 2011, 09:10:56 PM »

Quote from: RobertH on October 10, 2011, 04:20:47 PM

oh there's a buyer premium? i might pass on this. i despise buyer's premiums.

My sentiments exactly.

DaveB · « **Reply #8 on:** October 10, 2011, 11:39:38 PM »

A buyers penalty is going to keep a lot of people like me away, it's going to keep prices lower, but there are going to be some people getting great deals because there will only be half of the people there. I'm guessing this will take less time for the auctioneers and they will be home sooner, worth the loss of money to work a shorter day. If I was the family, I would look for different auctioneers, ones that want to get better prices.

Roper · « **Reply #9 on:** October 11, 2011, 05:31:23 AM »

Quote from: DaveB on October 10, 2011, 11:39:38 PM

A buyers penalty is going to keep a lot of people like me away, it's going to keep prices lower, but there are going to be some people getting great deals because there will only be half of the people there. I'm guessing this will take less time for the auctioneers and they will be home sooner, worth the loss of money to work a shorter day. If I was the family, I would look for different auctioneers, ones that want to get better prices.

.

I feel the same way..

FarmerRick · « **Reply #10 on:** October 11, 2011, 07:39:37 AM »

Don't expect prices to be lower because of their buyer's premium(yes it is 20% if you are using proxibid). I was at one of their acreage sales a couple months ago and prices were generally at about 10% under new retail prices(except for old junky furnature). I left empty-handed after about an hour of bidding against internet buyers who you can't see. Lots of ticked off people at that sale due to the internet bidders taking forever and slowing down the process.

DaveB · « **Reply #11 on:** October 11, 2011, 09:33:56 AM »

So, who pays these high prices? It can't be dealers, they would have to turn a profit on them unless they are collectables. I always went to auctions to find bargains, it doesn't seem to be that way anymore.

I can see where internet bids would screw it up. I wonder how many people just walk away when it drags out too far?

Next, the auctioneers will charge admission and have dress codes.

bullit · « **Reply #12 on:** October 11, 2011, 10:08:46 AM »

"So, who pays these high prices?"

Its called "Auction Fever". Nothing makes sense....quit attending all auctions years ago because of the insanity.

metaldoc · « **Reply #13 on:** October 11, 2011, 10:32:50 AM »

Quote from: DaveB on October 11, 2011, 09:33:56 AM

Next, the auctioneers will charge admission and have dress codes.

Already happening at up scale and high end auctions. These are average guns. If they were high dollar collectibles, buyers would likely have to make a deposit up front just for the privilege of bidding. It is not uncommon for admission to be charged if the type of sale is likely to have a large draw. Just like the buyers premium, it's based on greed.

JimP · « **Reply #14 on:** October 11, 2011, 11:37:52 AM »

Quote from: metaldoc on October 11, 2011, 10:32:50 AM

Just like the buyers premium, it's based on greed.

Greed? Ha!

The auction company is providing a service: If you don't want their service, don't pay for it. The market will take care of it.

I am sick to death of all the people carping about "Greed!!!!" Such folk want something for nothing.

Value for Value, and the market is the Arbiter. Were it not for the auction company, you would not have even known about this auction/estate sale. They are making money by bringing more (and better quality) buyers to the auction. You don't want to buy, don't. That won't cost you a penny or a minute. You can then use your time to go join the "Occupy Wall Street" mobs, and Soros will even pay you for it!

NENick · « **Reply #15 on:** October 11, 2011, 12:00:42 PM »

Quote from: JimP on October 11, 2011, 11:37:52 AM

Greed? Ha!

The auction company is providing a service: If you don't want their service, don't pay for it. The market will take care of it.

I am sick to death of all the people carping about "Greed!!!!" Such folk want something for nothing.

Value for Value, and the market is the Arbiter. Were it not for the auction company, you would not have even known about this auction/estate sale. They are making money by bringing more (and better quality) buyers to the auction. You don't want to buy, don't. That won't cost you a penny or a minute. You can then use your time to go join the "Occupy Wall Street" mobs, and Soros will even pay you for it!

I agree with you completely. If people feel they are getting the shaft, someone will step up and create a business solving that grievance, which customers will then flock to. Whoever can do it better, cheaper, and satisfy the most customers will win.

That assumes the People aren't lazy and don't go to the government and demand that it solve (regulate) the problem. Then we have fewer, more expensive choices.

Wesley D · « **Reply #16 on:** October 11, 2011, 01:08:50 PM »

Quote from: JimP on October 11, 2011, 11:37:52 AM

Quote from: metaldoc on October 11, 2011, 10:32:50 AM
Already happening at up scale and high end auctions. These are average guns. If they were high dollar collectibles, buyers would likely have to make a deposit up front just for the privilege of bidding. It is not uncommon for admission to be charged if the type of sale is likely to have a large draw. Just like the buyers premium, it's based on greed.
Greed? Ha!

The auction company is providing a service: If you don't want their service, don't pay for it. The market will take care of it.

I am sick to death of all the people carping about "Greed!!!!" Such folk want something for nothing.

Value for Value, and the market is the Arbiter. Were it not for the auction company, you would not have even known about this auction/estate sale. They are making money by bringing more (and better quality) buyers to the auction. You don't want to buy, don't. That won't cost you a penny or a minute. You can then use your time to go join the "Occupy Wall Street" mobs, and Soros will even pay you for it!

Bwahaha!

Greed... I completely agree Jim. Anyone interested in complaining about greed may benefit from giving This Book a read.

Mudinyeri · « **Reply #17 on:** October 11, 2011, 03:05:50 PM »

Quote from: bullit on October 11, 2011, 10:08:46 AM

"So, who pays these high prices?"

Its called "Auction Fever". Nothing makes sense....quit attending all auctions years ago because of the insanity.

I'll occasionally go to an auction for the fun of it, but I can't remember the last time I bought anything of consequence on an auction.

omaharj · « **Reply #18 on:** October 11, 2011, 05:30:25 PM »

.......My thoughts......
The nature of business is profit.
Less than 25% of auctions I have been to were worth my time.
I went to an auction about a week ago in Ashland. A USED high point 9mm sold for $175. The fellow in front of me got out at $160. I congratulated him on losing and informed him they LIST for $135 and usually sell for less. He laughed and said he didn't know that,just liked the gun.

Buyers premium reduces the chance of me going.
There is a chance some good/great deals may be at this auction.
IF (I said IF) I go, I probably would wear something that identified me as a member of the NFOA

RJ

JimP · « **Reply #19 on:** October 11, 2011, 08:43:33 PM »

Quote from: Wesley D on October 11, 2011, 01:08:50 PM

Greed? Ha!

The auction company is providing a service: If you don't want their service, don't pay for it. The market will take care of it.

I am sick to death of all the people carping about "Greed!!!!" Such folk want something for nothing.

Value for Value, and the market is the Arbiter. Were it not for the auction company, you would not have even known about this auction/estate sale. They are making money by bringing more (and better quality) buyers to the auction. You don't want to buy, don't. That won't cost you a penny or a minute. You can then use your time to go join the "Occupy Wall Street" mobs, and Soros will even pay you for it!

Bwahaha! Greed... I completely agree Jim. Anyone interested in complaining about greed may benefit from giving This Book a read.

Read that, and doubt that anyone who would waste time complaining about "Greed!" could struggle through that weighty tome, let alone benfit from it.