bigskybound
08-18-2014, 02:20
I am always amazed by the psychology of auctions, especially auctions for collectable firearms. My recent casual interest in military shotguns has led to acquisition of a couple and regular watching of auctions for others. My favorite trench gun is the Stevens 520-30 and I own a very nice one (95% condition +/-), so I pay particular attention to those auctions.
On another thread on this forum the recent sale of a very nice example of a 520-30 from Jack the Dog was discussed. I believe that one went for over $3K. I would say that the condition was comparable to this one, (http://www.gunbroker.com/Auction/ViewItem.aspx?Item=435679537) which is all matching. The seller has the auction starting at $3,000 with a BuyNow price of $3,500: not out of the realm of its value. The auction has renewed multiple times since I started watching it and not one bid for $3,000.
On the other hand, this auction (http://www.gunbroker.com/Auction/ViewItem.aspx?Item=433052267) is for a worn, maybe 50% finish gun with a chopped bayonet lug. Seller could not determine if gun matched (I asked). The auction got 36 bids and the gun eventually sold for what I think is waaaaay more than it is worth. It is obvious that once the bidders decided that they “wanted†it, they kept bidding the price up without thinking about what they were actually getting. I mean, if you are dropping that kind of money, what’s another seven hundred bucks to get what has some real collector value?
So the advice I would give to the owner for the first auction is to just drop the BuyNow, set the Reserve at $3,000 (which is what he seems willing to take) and start the bidding at $1. I suspect that once the bidding frenzy gets underway, he will realize more than his Reserve price.
On another thread on this forum the recent sale of a very nice example of a 520-30 from Jack the Dog was discussed. I believe that one went for over $3K. I would say that the condition was comparable to this one, (http://www.gunbroker.com/Auction/ViewItem.aspx?Item=435679537) which is all matching. The seller has the auction starting at $3,000 with a BuyNow price of $3,500: not out of the realm of its value. The auction has renewed multiple times since I started watching it and not one bid for $3,000.
On the other hand, this auction (http://www.gunbroker.com/Auction/ViewItem.aspx?Item=433052267) is for a worn, maybe 50% finish gun with a chopped bayonet lug. Seller could not determine if gun matched (I asked). The auction got 36 bids and the gun eventually sold for what I think is waaaaay more than it is worth. It is obvious that once the bidders decided that they “wanted†it, they kept bidding the price up without thinking about what they were actually getting. I mean, if you are dropping that kind of money, what’s another seven hundred bucks to get what has some real collector value?
So the advice I would give to the owner for the first auction is to just drop the BuyNow, set the Reserve at $3,000 (which is what he seems willing to take) and start the bidding at $1. I suspect that once the bidding frenzy gets underway, he will realize more than his Reserve price.