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It’s finally upon us after quite a wait. Today, tomorrow and Sunday. Anyone have their eye on anything? It will be interesting to see how hammer prices trend. Based on how some recent Winchesters have performed on Chayn’s auctions on gunbroker, I predict prices will not be low.
We’ll finally see how this one does:
Note: it is lot 23 so it’s going to come up quick.
Anyone on-site?
Of tangential interest, as they are both Nimschke engraved, are a pair of Evans offered. I’ve only owned one Evans in my life, but I’ve paid attention to most Winchester competitors. For an Evan collector, these two are surely the pinnacle:
I’m confident these two would sell for much more if they were Winchesters!
Watching so far, I would say prices are ok, but not at the level Charyn’s typically receives. Many went on the low side. One of the things I find irritating is the high bid increments. I just saw a ’76 Winchester sell for $25,000. The next bid increment was $27,500. I might be willing to pay $26,000 for it, but I have to pay $27,500 to get it? I suppose RIA must do it this way because it favors them. But I would think bidding could be kept going by dropping the bidding increment to $500. I realize they use larger bidding increments on higher dollar items, however, in the case of a $25,000 item, I don’t think $500 is too small. My opinion 😉
steve004 said
Watching so far, I would say prices are ok, but not at the level Charyn’s typically receives. Many went on the low side. One of the things I find irritating is the high bid increments. I just saw a ’76 Winchester sell for $25,000. The next bid increment was $27,500. I might be willing to pay $26,000 for it, but I have to pay $27,500 to get it? I suppose RIA must do it this way because it favors them. But I would think bidding could be kept going by dropping the bidding increment to $500. I realize they use larger bidding increments on higher dollar items, however, in the case of a $25,000 item, I don’t think $500 is too small. My opinion 😉
Steve, RIA does not slow it’s pace for anyone or any gun! They have a lot of guns to do in 3 days, they make their money on a percentage and slowing it down would cost them serious money. Large bid increments speed it up. Above $20,000 the $2500 increments makes your next bid $5,000 higher than your last! I’ve been on the wrong side of the bid at my max and watched the gun sell to someone else. It’s an auction, they make the rules! T/R
TR said
steve004 said
Watching so far, I would say prices are ok, but not at the level Charyn’s typically receives. Many went on the low side. One of the things I find irritating is the high bid increments. I just saw a ’76 Winchester sell for $25,000. The next bid increment was $27,500. I might be willing to pay $26,000 for it, but I have to pay $27,500 to get it? I suppose RIA must do it this way because it favors them. But I would think bidding could be kept going by dropping the bidding increment to $500. I realize they use larger bidding increments on higher dollar items, however, in the case of a $25,000 item, I don’t think $500 is too small. My opinion 😉Steve, RIA does not slow it’s pace for anyone or any gun! They have a lot of guns to do in 3 days, they make their money on a percentage and slowing it down would cost them serious money. Large bid increments speed it up. Above $20,000 the $2500 increments makes your next bid $5,000 higher than your last! I’ve been on the wrong side of the bid at my max and watched the gun sell to someone else. It’s an auction, they make the rules! T/R
TR – That does make a lot of sense. They have a huge amount of guns to sell and they have to go that fast to sell them all in three days. But man, those $2500 bid increments are killer. And as you say, your next bid will be $2500 higher than your last bid. Whew.
Steve, my next bid is $5000 more than my last bid. The other bidder raises my bid $2500 and I raise his $2500= $5000 more than my last bid after $20,000. T/R
TR said
Steve, my next bid is $5000 more than my last bid. The other bidder raises my bid $2500 and I raise his $2500= $5000 more than my last bid after $20,000. T/R
Yes, it would be $5000! Hard to fathom.
November 7, 2015
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steve004 said
Yes, it would be $5000! Hard to fathom.
And…..you only have a very short time to raise your bid or let it go. I don’t see how that benefits anyone but the auction house but it’s their house, their rules.
Mike
So…Rock Island Auction is starting.
Big deal. All this thread does is draw attention to them and maybe drum up even more business.
I don’t want to sound negative, but they overrepresent what they are marketing. Lots of pretty pictures and much creativity in their descriptions. I would like to say a lot more but would be guilty of slander. But give some thought as to why their hammer prices are often much higher than competitors auctioning similar firearms and also I hear of more than a few dissatisfied individuals out there. Some I have heard grumbling first hand.
mrcvs said
So…Rock Island Auction is starting.Big deal. All this thread does is draw attention to them and maybe drum up even more business.
I don’t want to sound negative, but they overrepresent what they are marketing. Lots of pretty pictures and much creativity in their descriptions. I would like to say a lot more but would be guilty of slander. But give some thought as to why their hammer prices are often much higher than competitors auctioning similar firearms and also I hear of more than a few dissatisfied individuals out there. Some I have heard grumbling first hand.
I am not a big auction house fan. It was not my intent to drum up business for them. I seem to recall someone quoting Tommy Rholes from decades ago – something to the effect that the big auction houses were ruining collecting – by pushing prices up to excessive levels.
November 7, 2015
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I enjoy looking at the pictures and reading about the guns. The sales data are interesting and at times hard to understand. Best thing about auctions is that we get to look at guns that we would most likely never get to see any other way. If our pockets are deep enough and we’re lucky, we can even own them. The auction house’s job is to get the best price for the seller and most have learned it’s in their best interest to treat all parties fairly. We’ve all seen firsthand the excitement an auction can create and some people make poor decisions when excited. The descriptions are written to inform and help create excitement. Sometimes mistakes are made, sometimes descriptions are misleading. It’s unreasonable to expect the person writing the descriptions to know as much about the firearms as a serious collector. Caveat emptor.
Mike
TXGunNut said
I enjoy looking at the pictures and reading about the guns. The sales data are interesting and at times hard to understand. Best thing about auctions is that we get to look at guns that we would most likely never get to see any other way. If our pockets are deep enough and we’re lucky, we can even own them. The auction house’s job is to get the best price for the seller and most have learned it’s in their best interest to treat all parties fairly. We’ve all seen firsthand the excitement an auction can create and some people make poor decisions when excited. The descriptions are written to inform and help create excitement. Sometimes mistakes are made, sometimes descriptions are misleading. It’s unreasonable to expect the person writing the descriptions to know as much about the firearms as a serious collector. Caveat emptor.
Mike
Mike – all excellent points. And we really do get to see a lot of rifles we otherwise wouldn’t ever see. For free!
With some exceptions, I am seeing a lot of Winchesters go low this morning. Some just hitting the low end of the estimate; others, well below that. I’ve seen a lot of pieces that were I the seller, I’d be very disappointed.
Is anyone onsite?
Rare, minty, and famous are bringing good money. That tells me the big collectors are still buying, a good sign. T/R
Who do you think writes most of the descriptions, the seller or the appraiser?
James
jwm94 said
Who do you think writes most of the descriptions, the seller or the appraiser?
James
James,
Based on my discussions with RIA in the past, the answer is both, though most of time it is RIA’s appraisers that write the description. Quite frequently the guns that have a “story” explaining them were written by the seller.
Bert
WACA Historian & Board of Director Member #6571L
TXGunNut said
The auction house’s job is to get the best price for the seller and most have learned it’s in their best interest to treat all parties fairly.
Mike
That’s just part of the story. Just like investment firms. They make money no matter what happens. Volume is in their best interest.
Bert H. said
James,
Based on my discussions with RIA in the past, the answer is both, though most of time it is RIA’s appraisers that write the description. Quite frequently the guns that have a “story” explaining them were written by the seller.
Bert
Bert,
Thank you. I had similar thoughts that oftentimes sellers know more details about some pieces than do the appraisers, as Mike indicated.
James
November 7, 2015
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Chuck said
That’s just part of the story. Just like investment firms. They make money no matter what happens. Volume is in their best interest.
Obviously some houses go about it differently.
Mike
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