Buying from an auction

[LSF]

A friend of mine has mentioned to me a rifle that will be in an auction in a few weeks' time. The rifle can viewed prior to the auction and you can bid online - which i believe to be of the sealed bid type of bid. If you win the bid you pay 22.5% auctioneers fee plus the dreaded vat ( 20 % ).

My question is - what experience have you guys of buying from an auction and, bearing in mind you buy as seen and cant fire it first, you could be buying nice wood & scrap metal or, you could end up with an absolute corker for half or a third of the price of anywhere else.

Cheers lee

 

[Orion]

Yup, that's about the long and short of it, although the online bidding will be in real time and not sealed bid.

Is it Holts you're referring to? They have a main sale where you bid on the floor, telephone or via the internet, (you must register in advance and use the program they provide), and also a proper sealed bid auction on a later date. Details on their website.

Some bargains to be had - a member on here got an O/U double rifle for a very good price - I'm waiting to see the combi gun I won at the last sealed bid. Hopefully it matches the pics!

 

[private fraser]

Lee... They are obliged by firearms legislation to not sell anything which is not in proof. They have a pretty good reputation and describe items accurately so I reckon on the odds being bargain rather than clunker.

 

[RED-DOT]

If i am after a gun i scour the interweb and i would never pay auctioneers fees and VAT on a used item... there ain't many things that attract a mark-up like a rare gun but nothing is as rare as 42% mark-up.

 

[Harry mac]

If i am after a gun i scour the interweb and i would never pay auctioneers fees and VAT on a used item... there ain't many things that attract a mark-up like a rare gun but nothing is as rare as 42% mark-up.

The commission and VAT don't add up to 42%. The auctioneers fees are the proffit they make for providing the selling service. The VAT is charged on the fees, not the item.
It is possible to end up with a bargain (a 12b SxS bought for a total of £7, and sold for £80. Or a box of accessories bought for £101, and so far I'm up to £240 for selling the bits in it separately), or you can end up with a bit of a dog (243 Parker Hale bought for £130 which wouldn't shoot for toffee, back in auction, I only got £20 back). It can be a bit swings and roundabouts.

 

[maccer]

LS is correct the next auction at Holts is a sealed bid auction.
You need to ask them for a condition report on the item and ask them any specific questions you like, even for more photos. They can be a bit crap at responding sometimes, especially for the lower value items. So you must chase them after a couple of days. Even call them. Make them earn their money.

They usually publish a report of barrel condition/wall thickness before the sale. So most of the information should be there, even if you can't be.

Beware of the VAT. Some items are marked with an asterisk, some with two asterisks and some with a cross.
They all have different Vat rates applied in different ways. True, most of the items only have vat on the fees. But the ones marked with a cross have full vat on the hammer price and the fees.

Good luck
maccer

 

[bewsher500]

to be brutally honest in this market where there are some unbelievable bargains to be had in private sales the auction would have to be phenomenal!
just look at the number of guns for sale on the various forums and site. If you are after something specific and unique and it happens to be at auction that makes sense but its most definitely a buyers market at the moment

 

[dodgyrog]

I'll probably go and have a look at the stuff for sale, but have found the more modern rifles go for too high a price (more than I'm willing to bid). Saying that there are some good items there that can be bought for a reasonable cost. My pal has had some very good deals from there.
As ever Caveat Emptor applies.
Don't buy sight unseen!!!