Where do these people come from ?

[DHurtig]

I am always frequenting thrift store, yard sales and auctions looking for something I can use or make a buck on. Even when I don't buy anything, it is still usually entertaining. I spent Sunday at an estate auction that had a lot of things that interest me. There were guns, ammo shooting related things of all types, wildlife mounts, wildlife art prints and lots of other goodies.

Of particular interest was about 10,000 rounds of 22 ammo. Supplies seem to be coming back and some can be had at almost reasonable prices. These people didn't seem to know or care. 325 round tins of Federal sold for $48, buyer bought all 6 tins. 500 round bricks of Winchester went for $58 each, buyer bought all 4 bricks. Winchester bricks of 333 rounds ( I think ) sold for $43 each, buyer bought all 4. Red plastic 100 round boxes of Winchester sold for $12 each, buyer bought all 8. 3 buyers bought all of the 22's.

The other items that interested me were the 1 ounce silver rounds and ingots. There were about a half a dozen rounds that went for $23 each. A premium price for sure. After that was 5 generic one ounce bars. some guy ran them up to $25 each and took all 5. He was thrilled to get them. Dude, that's over $8 an ounce over spot, you just threw away $40.

These people are clueless, where do these people come from.

[starmac]

See it at auctions. I was at a western auto that closed down once, and the items had price tags on them. People were paying way over the marked tag, when they could drive 11 miles down the road to another western auto, buy the item cheaper and get a warranty. lol

[jcwit]

Why do you think I've instructed my wife to sell my collection at auction, instead of on consignment at a gun store?

You only need 2 buyers who want the same item. Gun auctions here are crazy.

[Catshooter]

Actually the silver price was good. Very good. The actual selling price for actual silver, the stuff you can hold in your hand is far over spot. The guy did good.

The .22s on the other hand . . .


Cat

[merlin101]

Actually the silver price was good. Very good. The actual selling price for actual silver, the stuff you can hold in your hand is far over spot. The guy did good.Cat

Silver spot price is running $16.70ish-$17.00 today, anyone one can buy it for a few % over spot.

[Plate plinker]

I think they come from third grade.

[nagantguy]

Trailer parks, off state route 1 between the chemical waste facility and the tar pits, under powerlines .

[Jungle867]

.22lr is still commanding a premium where I am from. Stores are still OOS and anything you find on the net goes for about what was paid at the auction you were at. Where are you seeing the price of .22 down?

[Garyshome]

Those are the people who vote for democrats! Clueless!

[snowwolfe]

Silver spot price is running $16.70ish-$17.00 today, anyone one can buy it for a few % over spot.

Where? Cheapest I found 100 ounce bars is like $1 over spot and that's only if I buy way more than I can afford. A 1 dollar silver eagle which contains 1 ounce of silver usually sells for about $4 over spot if you only buy a couple, plus shipping.

[dakotashooter2]

Auctions feed on the competitive nature of people.............And there are always a few "win at any cost" at every auction..........

[Dale in Louisiana]

Where? Cheapest I found 100 ounce bars is like $1 over spot and that's only if I buy way more than I can afford. A 1 dollar silver eagle which contains 1 ounce of silver usually sells for about $4 over spot if you only buy a couple, plus shipping.

Quick Google search:

Silver 1 oz bar (http://www.bgasc.com/product/1-oz-silver-bars-by-opm-ohio-precious-metals-999-fine-silver-bullion-ingot-sbar_1_oz_opm/1-oz-silver-bars-all-brands)

dale in Louisiana

[snowwolfe]

Good deal but still 10% over spot if you buy up to 19 pieces.
Way more than "A few %"

[John Allen]

I am always frequenting thrift store, yard sales and auctions looking for something I can use or make a buck on. Even when I don't buy anything, it is still usually entertaining. I spent Sunday at an estate auction that had a lot of things that interest me. There were guns, ammo shooting related things of all types, wildlife mounts, wildlife art prints and lots of other goodies.

Of particular interest was about 10,000 rounds of 22 ammo. Supplies seem to be coming back and some can be had at almost reasonable prices. These people didn't seem to know or care. 325 round tins of Federal sold for $48, buyer bought all 6 tins. 500 round bricks of Winchester went for $58 each, buyer bought all 4 bricks. Winchester bricks of 333 rounds ( I think ) sold for $43 each, buyer bought all 4. Red plastic 100 round boxes of Winchester sold for $12 each, buyer bought all 8. 3 buyers bought all of the 22's.

The other items that interested me were the 1 ounce silver rounds and ingots. There were about a half a dozen rounds that went for $23 each. A premium price for sure. After that was 5 generic one ounce bars. some guy ran them up to $25 each and took all 5. He was thrilled to get them. Dude, that's over $8 an ounce over spot, you just threw away $40.

These people are clueless, where do these people come from.

I see this at auctions all the time. People get caught up and do not realize they are overpaying. Most times I think they forget the 20 percent on average buyers premium. I have seen used Smith 29 revolvers in ok shape go for $1000.00 before buyers premium.

[BrassMagnet]

I see this at auctions all the time. People get caught up and do not realize they are overpaying. Most times I think they forget the 20 percent on average buyers premium. I have seen used Smith 29 revolvers in ok shape go for $1000.00 before buyers premium.

I was told at some auctions there is no paper trail when you pay cash. Could this be why?

[WallyM3]

"Auction Fever"

[WallyM3]

I was told at some auctions there is no paper trail when you pay cash. Could this be why?

Isn't F-T-F allowed most places?

[BrassMagnet]

Not in Colorado any more. Now a felony.
Was legal at auction I heard about. Used, dinged, guns went for more than new retail.

[WallyM3]

Dayummm!

[jmort]

I can get 10 ounces of silver for $188 last time I checked
You are right, those are crazy people.

[Springfield]

No FTF allowed at California, all guns get DROS'd through the State. I still get some good deals at some estate auctions as I go for the older guns. I let the other guys fight over the new stuff.

[WallyM3]

I've gotten spoiled/ignorant living here.

[jcwit]

Its not only guns, I've watched Amish farmers bid up and pay 3 times the price for a True Temper plastic grain scoop shovel than what it costs at Big R or TSC Store.

[1Shirt]

I ran over 20 auctions for the FDIC during the farm crisis. One of the strangest was on a car that belonged to an older lady, worth at tops $200.00. The day before the auction, a man identified himself as the son of the lady, and wanted to buy the car to give back to his mother. I told him that as it was listed on the auction sheet it had to be auctioned. He said his brother wanted to buy the car for his mother, but he was determined to outbid his brother. Bid opened at 150.00, and the two brothers started bidding against each other in 25.00 increments. Can't remember which brother got the car, but it went for close to $800.00. A great profit for the FDIC, as the appraised value of the vehicle was $150.00.
1Shirt!

[Plate plinker]

JC that's why chupp auction has a warehouse full of that stuff. Horse leads, grain tubs, on and on... They always add that into their auctions. They also give a lot of money away for the right causes.

[legend 550]

Go on fleabay search Walmart gift cards. $25 gift cards will sell for 50 dollars and up

[rondog]

Actually the silver price was good. Very good. The actual selling price for actual silver, the stuff you can hold in your hand is far over spot. The guy did good.

Where? Who pays more than spot for silver? Only buyers I've ever found won't even give you full spot, there's always a buyers premium of a certain % under.

[Down South]

See it at auctions. I was at a western auto that closed down once, and the items had price tags on them. People were paying way over the marked tag, when they could drive 11 miles down the road to another western auto, buy the item cheaper and get a warranty. lol
Yup, that's why that I attend few auctions.

[jcwit]

JC that's why chupp auction has a warehouse full of that stuff. Horse leads, grain tubs, on and on... They always add that into their auctions. They also give a lot of money away for the right causes.

That they do, and I didn't say or claim there was anything wrong with it.

As long as the buyer and the seller are happy it makes no difference.

I should also add I've seen English pay way more for new items at auction then what they cost at a retail store.

[10x]

From Wikipedia, the free encyclopedia
"There's a sucker born every minute" is a phrase (http://en.wikipedia.org/wiki/Phrase) most likely spoken by David Hannum, in criticism of both P. T. Barnum (http://en.wikipedia.org/wiki/P._T._Barnum), an American showman (http://en.wikipedia.org/wiki/Showman) of the mid 1800s, and his customers. The phrase is often credited to Barnum himself. It means "Many people are gullible, and we can expect this to continue."
I find that a significant number attend auction sales...

[snowwolfe]

Where? Who pays more than spot for silver? Only buyers I've ever found won't even give you full spot, there's always a buyers premium of a certain % under.

Pretty much everyone pays more than spot. Can you post a link showing anywhere in the world selling it for spot price?

[RogerDat]

Thing with auctions is your have to really know the value of what you planning to bid on. If you don't you will be easily sucked into paying too much. My wife has a friend that does pretty well at actions but she only buys costume jewelry. She knows the stuff that will sell, and it's market value. Every once in awhile she spots something of real value because she knows who made it, when, and that it is collectable.

I think part of the problem is people go to auctions not to buy a specific item but to see if there is something they are "interested" in purchasing. Which is another way to say something they have not researched the price of. But come on price tag on the auto parts and they still overpaid? These people are poster children for the gene pool needs a little chlorine.

Some go knowing the value of the type of items they will bid on, some go with more money than sense. Just like buying pewter for tin you have to be able to walk away if the weight does not justify the price. That fellow that bought the .22's in 333 rnd. boxes paid more than twice as much as I did at Walmart last month. Not always in stock but hey I don't always need another box.

[MaryB]

Gainsville Coins, usually one of the cheaper spots for silver. American Silver Eagles are $20.53 http://www.gainesvillecoins.com/products/165813/2014-1-oz-american-silver-eagle.aspx $18.23 for generic bars http://www.gainesvillecoins.com/products/154870/1-oz-morgan-design-silver-bars-999-fine.aspx premiums are rising

[starmac]

Not in Colorado any more. Now a felony.
Was legal at auction I heard about. Used, dinged, guns went for more than new retail.

Here it used to be, but it depends on the auction co. A couple of the bigger ones here have started making you pay anffl above bid price and the normal 10% buyers premium, others there is no paper trail, and it really doesn't matter how you pay. I bought a 340 at one, just down from the house. They handed it to me when I got the bid, I got tired of carrying it around, so handed it to a friend of mine so he could take it to my place before I even paid out. lol

[starmac]

I was at an auction once And spent quite a bit of time talking to a nice looking gal, that was pretty friendly and only interested in one article. I bought a pallet that had some specialized tools, but also had an unopened 5 gallon of peanut oil. She ask me what was there that I wanted bad enough to pay what I did. I told her the peanut oil, I already had some plastic sheets. lol

[Plate plinker]

Did it work out for you with that peanuts oil line?

[WILCO]

These people are clueless, where do these people come from.

Basic economics 101 at play here. I would worry when folks didn't open their wallets.

[starmac]

Did it work out for you with that peanuts oil line?

If you call getting a good laugh, then yes it did. If it had gone any furthur than that, I'm thinking my little darling would have made sure it would not have been a good idea. lol

[snowwolfe]

Gainsville Coins, usually one of the cheaper spots for silver. American Silver Eagles are $20.53 http://www.gainesvillecoins.com/products/165813/2014-1-oz-american-silver-eagle.aspx $18.23 for generic bars http://www.gainesvillecoins.com/products/154870/1-oz-morgan-design-silver-bars-999-fine.aspx premiums are rising

That's pretty much standard pricing for Silver Eagles and bars. About a 20% premium for Silver Eagles at the current spot price. It always amazes me that people think just because silver or gold closes at a certain price they can buy it for that price, or less. Thanks for the link.

Always interested in the good deal others are always mentioning so lets see some of you post links where you can buy silver for spot, or less.

[blademasterii]

I have a local jeweler that will sell to me for spot or a bit under. He would rather make a few dollars and sell it quick then hold on to it. He doesn't deal in silver per say, but every other month or so my dad goes in and buys whatever he has. I've been dealing with him for 12 years or so and it is where I buy most of my jewelry. He also does custom pieces. Had him make a pendant for me a while back.

[Blacksmith]

Where? Who pays more than spot for silver? Only buyers I've ever found won't even give you full spot, there's always a buyers premium of a certain % under.

If you are looking for buyers then you are a seller. The price depend on if you are buying or selling and the difference is how the dealers make a profit and earn their living. You can buy or sell at the spot price any day you want at any of the precious metals markets around the world. You just have to be a registered trader and deal in massive quantities that are in large ingots everything else carries a premium that depends on size of the transaction what form the metal is in and if you are buying or selling.

You can probably get more than spot from selling to a private individual as long as it is in widely accepted form like coins or ingots from a recognized mint.

[MaryB]

Not many private sellers at these prices.

[oldred]

Not about auctions nor prices but clueless just the same, my wife and I passed a yard sale some time back here in Tn and I spotted a table with some guns on it (yep guns are common at yard sales here in East Tn) so it was not hard for her to convince me to check out the sale. There was a rather pitiful looking Luger that caught my eye from a distance but upon inspection I found it to be well worn and freshly PAINTED but that was not the kicker! Lying right next to it was a 12 gauge pump shotgun with the barrel sawed of even with the magazine tube, near as I could tell using the scale on the back of my Leatherman multi-tool the barrel was a bit over 11" at the most! This thing was lying right out in the open in plain view right beside highway 63 for anyone to see, I asked the guy if he knew it was illegal and he said "as long as the stock ain't cut off it ain't illegal"! Okaaaaay!!!!! I hustled my wife off to the car fearing that everyone at the scene was about to be arrested and left to the court to decide who was guilty! I didn't hear about anyone being arrested nor do I have any idea what became of this shotgun but for SURE some folks are absolutely clueless!

Where DO these people come from?

[Tallbald]

I wonder about folks too. Penny and I attended an estate auction last fall with my eye on an old SMLE. Turned out to be a beater with mismatched parts, cracked stock, only 50 percent finish on the metal, pitted bore and looked like a truck bed gun from my youth. Plus there was a required (by the auction house) FFL NICS check that was $25 on top of the selling price. Some fella ran the price up to $350. Once it passed $100 I stopped bidding and chuckled until the auctioneer said "sold". Don.

[Plate plinker]

Yep clueless they can be. Just yesterday I talked to a family friend about the cons of buying an unregistered full auto. I'll leave it at that.

[starmac]

There are some good deals to be had at auctions, but you have to remember that anytime you buy anything at an auction, you agreed to pay more than anyone else there would, internet auctions can be even worse.

[dragon813gt]

People get caught up in the auctions. You have to set a max bid and not exceed it. I've won a lot it auctions on Gunbroker this way. A lot of people will bid $499. I will bid $500-$505 and win more times then not. Usually for one whole extra dollar. Getting caught up in an auction is for the foolish. You need to have self control.

As far as silver goes I can buy bars for slightly over spot. The premium the shop charges is minimal. I prefer to buy silver eagles because they are a known quantity and quality. They are worth paying a premium for. W/ the prices what they are I've been buying a bunch of PF70 coins. But buying graded coins is an entirely different game then buying by weight.

[Elkins45]

Nice silver ingot. I'll trade you this chicken for it.

[GOPHER SLAYER]

oldred, what was he asking for the Luger? I think you should have you should bought it painted or not.

[oldred]

oldred, what was he asking for the Luger? I think you should have you should bought it painted or not.



I didn't ask but I probably should have, I saw the shotgun at the same time and I guess I forgot about anything else. That Luger was in really poor shape and under a coat of flat black spray paint (a tar&feathering offense IMO) and looked like it had been out in the weather. Still it had enough markings left to show that it was genuine and a Luger in ANY condition shouldn't just be discounted without a though examination but this guy was obviously a real flake and I didn't particularly want to deal with him.