Considering An Estate Auction For Your Antique Gun Collection

If you collect antique guns, you should think about the best option for handling this part of your estate. Discussing this can be uncomfortable and stressful, especially if you have items of significant sentimental or monetary value. There could be problems for your beneficiaries, executors, and family members if you do not plan ahead. Understanding your options for estate management can help you decide how best to handle your antique gun collection.

What are some estate management options?

It is important to have a clear strategy for what will happen to your antique gun collection. Unfortunately, it is not uncommon for owners to do nothing about their guns while preparing their estate. Valuable items such as antique guns can cause disagreements and undue stress for the bereaved family. As a result, the beneficiaries may have to deal with expensive lawyers, delayed benefits, or rushed sales. To stop this from happening, you can either choose to pass your gun collection down or have your guns sold in an auction.

Bestowing the gun estate to beneficiaries

Passing down your gun collection to a family member is an ideal solution. This practice strengthens tradition in families, allowing for the preservation of history and protection of sentimental items. But, you should not plan on passing down the pieces to just anyone. If you leave your antique gun collection to an uninterested family member, they are likely to sell it. They might attempt to sell it casually and end up losing out on a great deal of money.

Auctioning your antique guns

You can consider auctioning your guns as a simple and convenient method for managing your estate. This option will protect your beneficiaries who might be otherwise cheated by unethical dealers and buyers. Doing this can also help prevent disagreements between beneficiaries.

Auctioning your guns will ensure that they are sold for a good price, providing more financial benefits to your loved ones or designated charities. However, you must ensure that the auction is handled correctly for these benefits. Also, you should consider that your beneficiaries may not want to sell the gun collection at all.

Tips to help your beneficiaries get the most out of a gun auction

Although your beneficiaries or executors will be the ones handling the antique gun auction, there are some things you can do to help them.

Know your guns

When planning for an estate auction, it is important to understand your guns. You must determine whether the pieces in your collections should be classified as antique guns or modern ones. The general rule of evaluation outlines that guns manufactured before the twentieth century can be considered antiques. Also, you should note that guns that use fixed ammunition are not classified as antiques.

Check the values

If your gun is an antique, you must know its general pricing to find a good value. As you might expect, the most valuable pieces are those with historical significance. For instance, firearms which were once owned by famous personalities will attract a higher price during auctions.

There is no method to acquire a precise value. The specific value will depend on the type of gun, its condition, and any defining markings it has. You can conduct research on the general pricing of similar guns and their current and historical market values.

Choose a reliable antique firearm auction expert

When selling an antique gun at an auction, consider speaking with an expert. A specialist will evaluate your firearm and provide details based on their knowledge and experience. They will also know how to auction your guns quickly and for the best price. If you would like to learn more about gun auctions, contact the professionals at High Plains Auctioneers today. You can reach us at (806) 244-6776 or Send Us an email to learn more about Bidding or Selling at auction. You can also check out our Upcoming events to see what we will have available.