Guns auctions and reserves

[edgarspencer]

Originally Posted by Rich Anderson

I know of at least one person here who's gun didn't make the reserve and he didn't get it back as the auction house bought it for the reserve then relisted it .

Rich, If the seller established a minimum he would accept, and he was paid that amount (no sellers commission was deducted) I don't see where he would have an objection.
Was it relisted in another auction, at a later date, or was it brought back up again at a later time in the same auction?

[Bill Murphy]

6PT, you described a "reputable auction" and then described less than reputable behavior. Which is it? Josh is going to write an article about the auction business. Is his article going to be a different description of the auction business than Mr. Julia gave to us a couple of times in the last couple of years? Some of Mr. Julia's descriptions go over OK, but others do not. I would recommend that Josh reread some of Mr. Julia's posts before he writes his article. I had a bit of an "experience" at this week's auction that seems to demand an explanation. I will wait a while before I ask for an explanation since the item in question seems to have not sold.

[C.O.B.]

As I recall the seller was told he could expect $X and the reserve was set lower to get the bidding started then it never made the reserve so he thought he would get it back. He could have sold to another individual for more than the reserve but he honored his commitment to put it in the auction.
To the best of my knowledge it was sold "privately" by the auction house and it never resurfaced.

[C.O.B.]

duplicate post that I'll attribute to fat fingers