[Austin W Hogan]

I agree with Chilled Shot that you established the current price of that gun with your winning bid. Auction prices are the most reliable indicators of value, as we can be present at the sale and know the actual hammer price.
The real insight to value is to be present at an auction. The path to the hammer may really be more important than the winning bid in estimating re sale value.
1) The auctioneer usually asks for his low appraisal as an opening bid. If few guns open at this level, it is apparent most potential buyers view the apprasals as too high.
2) The opening bid is the instant resale value; if the rent is due, this is the price that gun will bring right now.
3) Watch the bidding process; when the number of phone operators involved or active bidders in the gallery falls to three, the consensus value lies between the opener and this bid.
4) The number of bids, or the increase in price, due to the last three bidders determines the amount of serious interest in this gun.

Occassionally a hesitant bidder who drops out along the way, but sees the continued bidding on a gun, will have sufficient interest in the gun to pay more than the winning bid following the sale.

Best, Austin