March
S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31
Who's Online Now
7 members (Marc Ret, Lloyd3, Ted Schefelbein, 3 invisible), 349 guests, and 2 robots.
Key: Admin, Global Mod, Mod
Forum Statistics
Forums10
Topics38,374
Posts544,003
Members14,391
Most Online1,131
Jan 21st, 2024
Previous Thread
Next Thread
Print Thread
Page 2 of 3 1 2 3
Joined: Mar 2011
Posts: 4,074
Likes: 441
GLS Offline
Sidelock
**
Offline
Sidelock
**

Joined: Mar 2011
Posts: 4,074
Likes: 441
CZ, the practice of reaching one's "not to exceed" bid is present in auctions other than for guns guns. I have absentee bid on items on the phone, but prefer to have someone I know and trust present to place bids knowing my max. It has worked for me. Gil

Joined: Feb 2011
Posts: 1,405
Sidelock
**
Offline
Sidelock
**

Joined: Feb 2011
Posts: 1,405
Based on a few previous experiences with auction purchases, i had thought the practice of running bids was common, however one of the purchases I made in the current auction proved me wrong on that. My max bid was higher than opening and I won it for opening.


B.Dudley
Joined: Jun 2006
Posts: 2,966
Likes: 293
Sidelock
**
Offline
Sidelock
**

Joined: Jun 2006
Posts: 2,966
Likes: 293
Gil, I buy stuff at auction all the time.
The State, when auctioning off it's surplus stuff, has to allow 5 minutes after the receipt of the last bid, before the hammer. This allows for slow computers, etc. making it fair to online bidders.
Also, to prevent sniping, every additional bid extends the time 5 minutes.
They just want the max price as a fiduciary act, so it's in all our interest to allow the pause.

Gun peddlers that immediately jump the auction price to the maximum pre-submitted bid aren't really conducting an auction. It's a negotiation.


Out there doing it best I can.
Joined: May 2005
Posts: 400
Likes: 29
Sidelock
Offline
Sidelock

Joined: May 2005
Posts: 400
Likes: 29
Bid by phone, it works.


HWK
Joined: Apr 2016
Posts: 717
Likes: 104
Owenjj3 Offline OP
Sidelock
*
OP Offline
Sidelock
*

Joined: Apr 2016
Posts: 717
Likes: 104
Holts, the old Julia's, and Gavin Gardiner bid incrementally up to your max bid as a "commission bid" on behalf of the auction house. For example, I bought an engraved .22 rifle at Holts a few months ago. I PDF'd my bid in for 1200 sterling. The Auctioneer bid for me up to 900 sterling when the room bidding ended and I won the rifle for 900 sterling. I followed the same procedure at Morphy's. Immediately my bid, which was $4k above the reserve, showed as "current bid" on the Morphy's website well ahead of the beginning of the auction. One bid from the floor took me out and the bidding was over.

Stan, You should go onto Morphy's website with your connection and launch the Live Bidding page. You can get a sense for the lag time between start of auction and hammer based on your internet connection. They have a firearms auction today and tomorrow. I have a very good internet connection, but sometimes I feel like the auction server causes a lag.

Bill, I'd be interested to hear the explanation you receive.


Owen
Joined: Mar 2002
Posts: 7,693
Likes: 450
Sidelock
**
Offline
Sidelock
**

Joined: Mar 2002
Posts: 7,693
Likes: 450
I refuse to bid where my entire bid is posted as my opening bid. I’m bidding against myself until someone else bids. That’s pointless. I accept the on sealed bids at places like Holts sealed bid auction that is the way it works. But why bid your max amount when you might be the only bidder just to make the auction house more money? Problem is that the auction houses want as many bidders as possible but can’t slow down the auction to level the playing field. On site bidders have a clear advantage because they get real time bidding information while off site gets delayed information or forced to over bid upfront.

Joined: Mar 2011
Posts: 4,074
Likes: 441
GLS Offline
Sidelock
**
Offline
Sidelock
**

Joined: Mar 2011
Posts: 4,074
Likes: 441
CZ, gunbroker has a similar policy with its 15 minute rule.
SxS40, with an honest employee manning the phone it can work. I've also heard examples of the opposite from someone who was there and saw what was happening on some items that kept getting bumped up without activity on the floor. Gil

Joined: Apr 2002
Posts: 251
Sidelock
Offline
Sidelock

Joined: Apr 2002
Posts: 251
Anyone know how Rock Island treats absentee maximum bids? Do they treat them incrementally or post them as opening bids, or use straw buyers to drive prices up to them? Anyone recently obtained an item at a Rock Island auction for less than their maximum bid?

Last edited by vangulil; 10/31/18 10:03 PM.
Joined: Jan 2002
Posts: 637
Likes: 6
Sidelock
**
Offline
Sidelock
**

Joined: Jan 2002
Posts: 637
Likes: 6
Owen—thus far, the only response I’ve received is as follows! The opening bid was $3000, established by me with my pre-auction bid of $5000. I’m told that as the bidding progressed in increments of $250–MOST LIKELY—my online pre bid came in at $4750 and SOMEONE ELSE came in at $5000, which was my maximum bid and they prevailed. I’m not buying it. Here’s how it should have gone with my established maximum bid of $5000. The gun opens at $3000. Goes to $3250–my pre bid raises it to $3500. Goes to $3750–my pre bid kicks it to $4000. Goes to $4250–my pre bid raises it to $4500. Goes to $4750 and my max bid comes in at $5000–which was the winning bid. I’ll never know what really happened, but in the future, I’ll be at the auction or on the phone for an item I’d really like to have. To be clear, I’ve placed bids for years and HAVE won items for less then my maximum, but never at the 2 major auction houses.


nid-28
Joined: Jul 2011
Posts: 152
Sidelock
Offline
Sidelock

Joined: Jul 2011
Posts: 152
Morphy's charge 20% buyers fee vs. 15% that Julia's charged. Guess who eats the extra 5%!If I am a buyer on a gun I value at $10,000.00 I will bid up to $8,000.00. The seller receives the $8,000.00 minus 1% insurance fee and a sellers fee.

Page 2 of 3 1 2 3

Link Copied to Clipboard

doublegunshop.com home | Welcome | Sponsors & Advertisers | DoubleGun Rack | Doublegun Book Rack

Order or request info | Other Useful Information

Updated every minute of everyday!


Copyright (c) 1993 - 2024 doublegunshop.com. All rights reserved. doublegunshop.com - Bloomfield, NY 14469. USA These materials are provided by doublegunshop.com as a service to its customers and may be used for informational purposes only. doublegunshop.com assumes no responsibility for errors or omissions in these materials. THESE MATERIALS ARE PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANT-ABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. doublegunshop.com further does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. doublegunshop.com shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, lost revenues or lost profits, which may result from the use of these materials. doublegunshop.com may make changes to these materials, or to the products described therein, at any time without notice. doublegunshop.com makes no commitment to update the information contained herein. This is a public un-moderated forum participate at your own risk.

Note: The posting of Copyrighted material on this forum is prohibited without prior written consent of the Copyright holder. For specifics on Copyright Law and restrictions refer to: http://www.copyright.gov/laws/ - doublegunshop.com will not monitor nor will they be held liable for copyright violations presented on the BBS which is an open and un-moderated public forum.

Powered by UBB.threads™ PHP Forum Software 7.7.5
(Release build 20201027)
Responsive Width:

PHP: 7.0.33-0+deb9u11+hw1 Page Time: 0.060s Queries: 36 (0.037s) Memory: 0.8464 MB (Peak: 1.8987 MB) Data Comp: Off Server Time: 2024-03-28 17:45:15 UTC
Valid HTML 5 and Valid CSS