Upcoming Auction

[JV Puleo]

I noticed today that the upcoming Amoskeag auction in Manchester, NH has several, perhaps half a dozen, contemporary rifles listed some of which, to my unpracticed eye, look pretty nice. I've no interest in contemporary rifles but I have noticed that they rarely fetch much money at these sales which are mostly attended by antique gun collectors and dealers. I've no connection with the auction other than to receive the catalog. Some of them may be shown on line but I haven't checked that either. The estimates seem to be in the 400-600 range regardless of how good they are.

JVP

[Jim Filipski]

JVP,
Would they have a website address?
Jim

[JV Puleo]

Here it is...

http://www.amoskeag-auction.com/

I still haven't looked at the on-line version so I don't know if everything is in it. I saw the print version.

[Steve-In]

The last line at the bottom of their list scared me.
"17.5% Buyers Premium with a 2.5% discount when paying with check or cash" Ouch.  It still doesn't cost to look though.  Thank you

[LynnC]

How many of you would spend your money at Wally World or anywhere else for that matter if they charged you a buyers premium for the privilege buying from them??? 

The buyers premium is one of my pet peeves!  And I'm an auctioneer!  God willing I'll never have one!...............................Lynn

[Longknife]

I really don't understand that buyers premium practice, cause if I gotta pay it, then I'm gonna bid less!!!!? Its all gonna come out of the same pocket?

[PINYONE]

Hey Hillbillies- Buyers- Premium is used everywhere in Auction- now I bet yall wish you were Hillbillies. My family has had an Auction Co. for 32 years, never a problem with the Fee. Here is a good example of a Buyers Premium- in 1984 I went to a Farm Auction in Flomaton AL- I bought a rifle featured on American Historic services- Called - THE GAMECOCK- with buyers premium I paid $27.50 for it. I always said hey I didn't set the fee in place but when you find something you want- it doesn't matter. Look at waht its worth now. By the way on AHS- they left me out in the History of it recorded there, everybody in te country is listed about it which is okay because they are all Famous Celebrities in the gun world- the person who found it and knew what it was doesn't count. Some had tried to connect it to Andrew Jackson but had no proof. Arnie Dowd the person I sold it to at least gave me credit for starting the ball rolling on the Higgins Rifles of Butts Co. Georgia. At Auction remember if you go home empty handed the other guy won, and what he paid for the item is already out dated.

[JV Puleo]

All of the major auction houses have to compete to get material to sell. In that competition one of the major factors is their percentage. Needless to say, if one house wants 15% and another wants 12%, the latter is likely to get the job. This is regardless of whether the second firm is better qualified since very often the consigner is not qualified to judge which might be better able to bring in the right buyers.
When I sold my fathers viola for him several years ago, I went to Southebys. All of their fees were higher than they would have been locally but they also could command an international market... I am certain my father got much more than he would have if it had gone to some local auction. Selling antique guns is much the same. A handfull of houses are competing for the big sales, often dealing with the heirs or attorneys of the collector whose material is being sold. It has gotten to the point where some are even guaranteeing a certain return....meaning that if the sale doesn't go well, they are on the hook for the money. The buyers premium is a way of transferring some of the cost/profit for the house to the buyer rather than the seller. It may effect how much is bid but my experience is that only the most professional and hardened dealers and collectors think long enough to take it into consideration so I suspect it has very little effect on the amounts bid.

JV Puleo

[LynnC]

JV P. Has a good understanding.  I well know the "reasoning" behind the premium. 

Top end merchandise thats going to top end buyers.  They don't feel the crunch. 

BTW - That auction company selling the antique rifle for $27.50 including the premium really earned their premium didn't they.  Did their research too.  HA

I wonder if they are still in business..............................Lynn