The "Doug Joy " rifle actually DID make it past the opening bid which started at $ 30,000 and closed at $ 32,500.00 at which time the lot was pulled. Apparently the 'reserve' was not met. What happens next I am not sure. Hugh Toenjes
Auction houses must all do things differently. I worked for the largest gun auction house in the world for a short time and have attended and bought guns at many of their auctions. The auctioneer generally starts calling a number where he/she thinks the bidding will take off and the auction goes on from there. I have found that such a high starting bid will put bidders off, they just aren't interested in paying the starting price 30K is a big pill to swallow for a starting bid. You have to get them bidding then the end price will actually be way higher....you have to create interest. I'd start it at something like 5K and let 'er rip, you'd stand a better chance of surpassing the reserve. Some owners put on a reserve, some don't. A reserve in my opinion is a good idea on high end items for a variety of reasons. I'd go with a bigger/better auction house or consider a smaller reserve or the owner may have it for quite some time. Also keep in mind, the Contemporary market is pretty funky right now. There are several large high end custom muzzleloading gun collections on the market right now that have flooded the market and driven down prices. Call Chambers and talk to him about the guns he's selling and what he's able to get for them. The secondary market is pretty soft right now, good for the buyer, stinks for the seller. Right now in the current market a 30k+ gun, no matter what the quality, is going to be a very hard sell. At the recent CLA I could have had a bundle of Brennans , Martins, Silvers, Bivens, you name it for for 30K+. Right now, it's a buyer's market. Sorta sucks, since I sell guns for a living.
