sell by auction or not?

[John Talmage]

Hi all,

I am on the precipe of a major decision. I am looking to sell about 30 guns. They range from utility to some nicer guns (include 2-3 Parkers). Condition runs from non-working (utility) to excellent. So, would you sell by auction or on your own? What are the pros/cons?


My current plan, given quantity and the utility nature of many, is to sell as many as possible by auction. I will be keeping several (including 2-3 Parkers). But, maybe i keep a few more of the higher end guns than originally planned if selling by auction is questionable. My concern is setting a good price, finding buyers, etc. I have been referrred by one fo the top decoy auction people to a local auction house that will use proxibid, charge a reasonable commission. I feel comfortable with them for the guns I do send to auction.

Jake

[C grade]

John
A possible third option is to take the majority of the guns to a dealer who would pay a fair price for the group. We have a good one in NC that I have seen purchase collections at a fair price. That way you unload some of the less desirable guns with the better ones. I would separate the really good guns and offer them for sale yourself, starting with here.
David

[OH Osthaus]

if you attempt to auction a good gun yourself - you can always place a reserve and prevent it going to cheap

[Bill Murphy]

Proxibid is used by auction houses that charge the seller a commission, an additional buyer's premium, and a 3% fee added on for Proxibid. That separates the actual selling price from the amount the seller gets by a whopping percentage. Where are you located. Maybe a reader here could point you to a cheaper way into the auction world. There is a local gun auction near me that will sell your guns for a little over ten percent and no further fees or commissions.

[Big Friend Ten (BFT)]

As a PGCA member you could try selling the side by sides here. I discussed the rules of this with webmaster John Dunkle last night.

1. Selling in this site should be double guns and other fine collectable firearms. If in question, ask John Dunkle.
2. Use of this for sale forum should be PGCA exclusive for at least for the first week or two. An example is "For sale on thie site until xxxxxx, after that I'm listing it on Gun Broker...
3. One might consider giving PGCA members a discount. A quick sale to a good person is worth at least a little.

Mark

[John Talmage]

Thanks for the info. This is all great stuff to consider. Let me add a little info...According to the auction house I would use, "understanding this fee is all-inclusive of insurances, hauling, storage, set up, advertising, as well as any labor associated with display, and fees associated with the on-line bidding portion of the progeram as well as commissions we have to pay Proxi-bid for items sold to on-line bidders.....There are NO HIDDEN FEES."

My fee structure is based on how much I would sell. I suspect I will either be 10% or 0% (if I sell enough).

[Twoatlow8]

Auctions all great but don't forget you will have to pay tax on the income as it will be reported.

[Bill Murphy]

Where do you live?

[John Talmage]

Maryland

[Bruce Day]

Originally Posted by Scott Janowski

Auctions all great but don't forget you will have to pay tax on the income as it will be reported.

I am not a tax accountant or atty but:

1. I am informed that auction proceeds are not reported to the IRS

2. I have been informed by tax accountants that occasional hobby sales do not result in taxable income.