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Discussion Starter #1
It's amazing to see what some people will bid on something at an auction (outside of ammo) I get weekly (some times daily) announcements of up coming auctions, they are mostly firearms related but some times have a wide range of other things.
Before I bid on any thing I always check on a few things.
1, What can I but this item for some where else?
2. What is the buyers premium, it could be 13-24%.
3. Is there sales tax on the purchase?
4. How much is shipping? No such thing as free shipping
Right now there is an auction going on and, one item a BSA bore sighting kit (.17-.458) has a current bid of $48.00 (4 bidders, 9 bids) this auction has a buyers premium of 13% ($6.48) at current bid.
I checked Fleabay and the lowest price is $54.00 shipped. (plus state sales tax if there is one)
I can only guess what it will eventually sell for, Auction ends on the 5th of Dec.
Some people think they will get a bargain at an auction.
 

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Auctions are a disaster for all but the auctioneer............ they always make out like a bandit!!
 

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Discussion Starter #3
My father and brother were both auctioneers among other things, but our buyers never paid a premium.
There is a lot of work to get an ready for an auction (we were pre internet). setting up the lots, advertising, posting signs.
The day of the sale, a check in clerk is needed to take bidder info, a sale clerk is needed to record sale info, (Buyer, Item,sale price). Of course an auctioneer, people to bring up the lots,people to take the lots to the buyer.
 

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Just sold car and a few scopes on auction site........$1 No Reserve.
ho-ho-ho, its off to the bank I go......
Turkey Money
 

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Discussion Starter #5
I think some times it's hit or miss for the seller, I have seen auctions where the item sold for a very good to an inflated price.
I had the same or better item and never got a bid?
 

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They're a crap shoot. If you're a bidder you need to keep your wits about you and not get caught up in the excitement or think you have to have that particular item.
 

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I've seen bidder frenzy taken to ridiculous heights. Recently, a run-of-the-mill Pat.'07 Lee Enfield SMLE bayonet went for $654.(cdn.)!!! Some folks have more money than brains. When I go to an auction, I calculate how much I'm willing to spend including the buyer premium and I stick to that no matter what. There are good deals out there and if you know your field of interest, you can luck into some things that other buyers pass over.
 

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At auctions I determine market value, what I'm willing to spend plus buyers premium too. Last auction I walked out with a rifle and 2 handguns and didn't overspend what I had planned.
 

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I've only bought 2 things from an auction. A 1989 Cutlass Ciera 3.8 liter wagon and a 1992 Escort. Both I got for the minimum $75 bid at the tow-impound auction. I traded the Escort for a $600 motorcycle. The wagon I drove for a year until I smoked the trans pulling 8000 pounds. I knew going in what the cars were and game myself a $150 limit
 
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