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Selecting And Buying Guns At Auction

Tuesday, February 28th, 2017
Tips to use when attending a fun auction with high plains auctioneers

Live auctions are a great option for gun collectors looking for reasonably priced, unique firearms. If you are a gun collector headed to auction, there are some basic rules you should understand before placing a bid. You should always determine the condition of the gun before the auction, if possible, and find out its value. It is also important to understand the rules for specific auctions and know how to buy collector’s guns.

Determining the condition of the gun

Look through the auction catalog before you attend. The catalog should have information regarding the condition of each firearm. You should know the overall condition of all of the guns you are interested in before you purchase. If you have the opportunity to physically inspect a gun, make sure to do so beforehand.

Check to see if the gun’s barrel is straight, the crown is in good shape, and everything locks up tight. You should also look carefully at where the metal meets the wood. You will notice stain on the wood if it was excessively oiled. Assessing the condition of the gun is especially important if it is an antique.

Determine the value

After you have done your research, figure out the value of the guns you want to buy. Compare the opening bid to those found at other auctions for similar weapons. Unless the gun in question is historically significant, you may be able to find another auction with a similar firearm at a lower price.

Know the rules of the auction

To understand how the auction process works, you must know how to pay and when you are expected to pay. Some auction houses want payment right when an individual sale closes. Often times, rules for online auctions may differ from those done in person. Contact the auction house, look through the catalog of items, and research online to find out the rules for a specific auction.

When it comes to rules specific to gun auctions, there are a few things you should know. Before you make a bid, make sure you have a Federal Firearms License (FFL) holder lined up to receive the gun. If you have an FFL yourself, send a copy to the auction house beforehand. If you are buying a gun online, wait until you have won the bid to send your FFL information. You must also verify state and local regulations before purchasing the gun.

Purchasing a collector’s gun

If you are looking to buy a collector’s firearm, understand that it will be different from buying a non-collectible firearm. The cost will undoubtedly be higher, but you should still check the value of similar guns at other auctions. You will probably be bidding against serious collectors who will not let a small amount of money get in the way of purchasing the gun. To win a bid for a collector’s gun, it is best to be ready to pay the full price immediately after the auction.

The more you know before a buying a gun at auction, the better chance you will have for success. If you would like more information about selecting and buying a gun, 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 auctions and our services. Don’t forget to check out our upcoming auctions to see what we have available.