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americos wrote:Auction Notice From K-BID
Osseo Gun Club Retirement!
Everything Must Go - ENDS 12/12

Do you know if they also collect sales tax on top of the 13% premium?

gun_fan111v2 wrote:

americos wrote:Auction Notice From K-BID
Osseo Gun Club Retirement!
Everything Must Go - ENDS 12/12

Do you know if they also collect sales tax on top of the 13% premium?

No idea.
https://www.k-bid.com/auction/51872#auc ... ils_marker

gun_fan111v2 wrote:

americos wrote:Auction Notice From K-BID
Osseo Gun Club Retirement!
Everything Must Go - ENDS 12/12

Do you know if they also collect sales tax on top of the 13% premium?

IANAL,or accountant, but it reads to me that they should be collecting sales tax.

https://www.revisor.mn.gov/rules/8130.5800/

Thanks, I was also able to find this which indicates sales taxes will be collected (on top of premium which I assume is a taxable service charge). Kind of takes the fun out of this.

gun_fan111v2 wrote:Thanks, I was also able to find this which indicates sales taxes will be collected (on top of premium which I assume is a taxable service charge). Kind of takes the fun out of this.

Bid accordingly.

In the distant past, I frequented business liquidation auctions; bought lots of tools, materials, etc.
One thing I quickly learned was to avoid weekend events.
Too many bidders who were more interested in outbidding others, as opposed to getting something for a reasonable price.
Auctioneers play those competitive instincts to their advantage.

Online auctions... even the ease at which live auctions can be advertised, have made things much more of a sellers market.

I compared the auction winning bids (column B) against https://truegunvalue.com used prices (Column C is used 3rd party price, D is new price, E is either C or, if it not available, 71% of C plus $25)
Column F is the ratio of B to E, and column G adds 13% buyer premium to that. (See the attached PDF.)

For the most part, the winning bid was roughly equal to the used "true gun value" (and the extra 13% would be over that.)
Many action winners spent significantly more, sometimes 1.5 times as much more, as they could elsewhere.
I probably miscalculated quite a few times, but I think it shows the trend.

A few rifles were sold cheap - two Springfield 2020 in .22LR at 50%-ish and Ruger M77 in Win .270 at 75%.
S&W M&P 2.0 with removed firing pin went for 60%, that was a bargain; PDP sold for 80%, Savage MC9MS at just under 90%.
For all others, the deal was not much better than Gun Broker.

And you would have to go to pick up your purchase during the same not particularly convenient or wide time window as the other 150 winners.

IvanTheTerribleShot wrote:I compared the auction winning bids (column B) against https://truegunvalue.com used prices (Column C is used 3rd party price, D is new price, E is either C or, if it not available, 71% of C plus $25)
Column F is the ratio of B to E, and column G adds 13% buyer premium to that. (See the attached PDF.)

For the most part, the winning bid was roughly equal to the used "true gun value" (and the extra 13% would be over that.)
Many action winners spent significantly more, sometimes 1.5 times as much more, as they could elsewhere.
I probably miscalculated quite a few times, but I think it shows the trend.

A few rifles were sold cheap - two Springfield 2020 in .22LR at 50%-ish and Ruger M77 in Win .270 at 75%.
S&W M&P 2.0 with removed firing pin went for 60%, that was a bargain; PDP sold for 80%, Savage MC9MS at just under 90%.
For all others, the deal was not much better than Gun Broker.

And you would have to go to pick up your purchase during the same not particularly convenient or wide time window as the other 150 winners.

You need to recheck your column c & d values for some of the items. MSRP on the synthetic stocked Springfield 2020 rimfire is only $434 ($499 for the sage w/ black webbing). It appears that you're citing the 2020 centerfire prices from truegunvalue.

Searching truegunvalue for Springfield Armory 2022 Rimfire shows shows a null value for Used price, $285 for New Trade-in, and $438.68 for New Private Party. https://truegunvalue.com/rifle/SPRINGFI ... ical-value

Factoring in the 13% premium on the winning bid(s), that's just roughly 86% of MSRP. A better deal than what you would get at a big box retailer, and roughly comparable to what you would pay at some place like Southwest Arms.

Looks like typical auction results to me. Really no deals had and many way over paid for.

Auctions are in the business of making money.

Lumpy wrote:Auctions are in the business of making money.

They also seem to have a psychological effect on some people who have an overwhelming desire to “win” at all costs even if it is actually a loss…

Hence the Bugs Bunny cartoon where the Scotsman "won" the "auction" Bugs fast-talked him into.