Estate Auction question

[checkmate19]

Guys, a friends estate will be auctioned off soon , cars military trucks, and some weapons. The auction takes 20% and charges the buyer 10%. I have never been to one and wonder how prices are? Do you guys think the weapons will bring big money or not? As an example , say a new in the box Glock 19, where I live it would sell for 475 to 500, so do you think the high bid will be 350 ,400 , or 500. Thanks for any advice. The trucks run a few years ago but will be sold as is . Any insight in to auctions will give me an idea. thanks

[jak]

That auction sounds like one that will be widely advertized. That means all the people that
are interested in those items will be there. Think of ridiculous bids on e-bay and gunbroker.
It will be the same thing, only you will be seeing it live.
There will be items that will be bargains too. Just don't get caught up in the bidding
frenzy. If you see an item you want, set a limit on how much you want to bid and stick to it.
Be sure to calculate in the 10% fee and sales tax too.

[KnickKnack]

What jak said...

[musketjon]

One NEVER knows nor can predict how the prices will fall. I've seen both sides of the spectrum. Sometimes people bid high and sometimes they don't. It just depends on how badly someone doesn't want someone else to get something.
Jon

[KnickKnack]

There is one trick that I've found effective at live auctions sometimes. I preview all the items and decide what, if anything, I'm going to bid on, then set a maximum that I'll go to. As the auction progresses and the items come up, I wait to see if anything that I wanted is still left toward the end, when the crowd starts to thin. If there is, I'll wait a bit and then ask one of the staff to bring it up, telling him what my opening bid is. Sometimes no one else will bid it up and I can snag it for my opener. But watch out for shill bidders, who bid on the best items just to run up the price. If one of them starts bidding against you, drop out. You won't get a bargain.

[LEAD POISON]

But watch out for shill bidders, who bid on the best items just to run up the price. If one of them starts bidding against you, drop out. You won't get a bargain.

Seen that more than once. I don't go to them any more.

[musketjon]

Good advice on the shill bidders. I lost out on an IHC gapper 4-5years ago due to shill bidding. The hammer was ready to fall at $1500 and I thought I had it sewed up and just before the hammer fell I got out-bid. If I remember correctly it went for just shy of $2500.
Jon

[checkmate19]

Thanks guys all good advice. This is an auction of a friends estate and I may bid on a few things but also hope that the weapons sell for fair value. There are 10 or more of the lever action Marlins and Winchesters in like new condition with no boxes. We will hope for the best , just seems it will be like a fire sale as there is son much stuff. Thanks

[Old Guard]

Thanks guys all good advice. This is an auction of a friends estate and I may bid on a few things but also hope that the weapons sell for fair value. There are 10 or more of the lever action Marlins and Winchesters in like new condition with no boxes. We will hope for the best , just seems it will be like a fire sale as there is son much stuff. Thanks

Good luck on your bids..I like to go to them too[Auctions and Estate sales} But when on the internet too, I never can match their high prices..Maybe it is because I can see exactly what is for sale??

[Old Guard]

But watch out for shill bidders, who bid on the best items just to run up the price. If one of them starts bidding against you, drop out. You won't get a bargain.

Seen that more than once. I don't go to them any more.

I still go, but The shill bidders still come too...sometimes they are very obvious...