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How To Find the Value Of A Firearm Before An Auction

Thursday, November 30th, 2017
tips for selling and buying guns at auction

If you have decided to sell a firearm, you will want to make sure you receive the best price possible. Evaluate the condition of the gun first, as this will have a huge effect on its value. It should be in good working condition, and you will need to know the exact serial number and the year the firearm was manufactured. There are a few other things you will need to know before selling at auction. If you are interested in buying a firearm, it is also important to know how to find its value and ensure you get a great deal.

Ask the manufacturer for information

You can start by contacting the manufacturer of your firearm to find out if there have been any issues involved with your particular model. If it has been a durable firearm or if there have been recorded defects, you will know if you need to adjust the value of your gun.

Understand what information is needed to find value

There is certain information you will need to know about your firearm when researching its value. You will be asked what type of gun it is, or whether it is a long gun or a handgun. If it is a handgun, is it a revolver with a rotating cylinder or removable magazine? If you have a different firearm, you should know whether it is a rifle, shotgun, or long gun.

What type of action does your gun have? You should know if your firearm is a break-open, single-shot, or double barrel, and if it is pump action, lever action, semi-automatic, or bolt action. If you are trying to sell a revolver, you will need to know if it is tip-up, top-break, solid frame, or swing out cylinder. Different features on various gun models will affect their value, so knowing this information is important to finding the worth of your firearm.

It is also vital to know the caliber and measurements of the firearm to correctly appraise its value. Calibers are often marked, but if you cannot find this information on your gun, you can give an approximate size. The size of the overall gun and the barrel length will affect its value. If there are any types of markings on your firearm, you will want to list them as well.

Know the condition of your firearm

The biggest factor in determining the value of your firearm will be its condition. The shape your gun is in can either double its value or reduce it drastically. If you are unfamiliar with valuing firearms, you can perform either the NRA Condition Standards check or the Percentage System check. It will also be worth your time to ask a professional to conduct this check to get an accurate value.

If you have a collectible gun and want to find a buyer for it at auction, you should not try to clean it up before offering it for sale. Unless you know how to perform this process, it should not be attempted because you could drastically reduce the value of this firearm.

How to buy a gun at an auction

If you are looking to purchase a new firearm, auctions are a great place to start. Before attending the auction, you should do a bit of research. Check out the flyer for upcoming sales and see what will be up for bidding. If you see a gun that interests you, check the value of the firearm by viewing auction websites to see if there is one comparable. Another method of checking the gun’s worth is the Blue Book of Gun Values. Performing these checks will ensure you don’t over-bid the day of the auction.

Most auctions offer you the chance to view the guns before bidding begins. Take your time and thoroughly inspect the firearm you have chosen, make sure it has been properly cared for, and verify it is in good condition. Most of the time, guns are sold “as is” and you will be responsible for payment once you win the auction. Decide ahead of time what your highest bid will be and stick with that amount. If you get caught up in the bidding, you could end up paying more than what you budgeted.

Ask the experts at High Plains Auctioneers

The more you know before bidding or selling at a gun auction, the better chance you will have of success. If you would like to learn more about how to value, sell, or buy a firearm, contact the experts at High Plains Auctioneers today. You can call us at (806) 244-6776 or Contact Us by email for more information about our services. Don’t forget to check out our Upcoming Auctions to see what we have available!