JAMES JULIA'S MARCH 2012 AUCTION

[Bindlestiff]

Originally Posted by Robin Lewis

I sent them an email and asked them to explain why the guns didn't sell even though they hammered them as sold. If I get a reply, I will post it to this thread.

Here is the reply I said I would post. We had this figured out already but this is their response for your reading pleasure:

Thank you very much for your inquiry.

These items along with most of the other items that did not sell, carried a reserve that was not met at the auction. As described in the Terms & Conditions of Sale in the front of our catalogue: “ (#9) – RESERVES: Some items in this auction may carry a conservative reserve. Therefore the auctioneer may bid on behalf of the owner or for the auction house. The purchaser will be the highest bidder acknowledged by the auctioneer. Please note that when an item carries a reserve, the reserve is usually somewhere below the low estimate in the catalog. Actual reserve figures cannot be divulged, but we will tell you if an item carries a reserve if you ask”.

During the auction, if an item has a reserve, the employee responsible for protecting the reserve, will bid competitively against the audience until the reserve is met or exceeded, or the bidding has ended. Therefore, if the last bid is on the person representing the reserve, then the auctioneer recognizes that bidder number as the purchaser and is registered as such. There is no way to acknowledge a “no sale” via the internet carrier Artfact during the auction, so what viewers will see is that the item hammered at such and such a price. I believe that this is true through most all Live auction internet carriers. This is why we post on our website, the next day, a listing of items that did not sell along with a Prices Realized list of all other items.

Perhaps Live Auction internet carriers should change from “Sold” to “Hammered”.

I hope this has answered your question. Please do not hesitate to contact me if you have any other questions.

Sincerely,

Judy Labbe
Department Head
Firearms Division
James D. Julia inc.

[C.O.B.]

Well, Well, Well that sounds like a loada crap. What about when a gun is "hammered" for less than the reserve and they won't return it to the original owner but THEY meet the difference between hammered and reserve then sell it out the back door and the consignor is beat out of the deal.

I wouldn't bid on a gun from them no matter what it was. I know more than one person who got the wrong end of Julia's.

[James Brown]

The following is from Julia's web site and printed catalog:
"9. RESERVES: Some items in this auction may carry a conservative reserve.Therefore, the auctioneer may bid on behalf of the owner or for the auction house. The purchaser will be the highest bidder acknowledged by the auctioneer. Please note that when a lot carries a reserve, the reserve is usually somewhere below the low estimate in the catalog. Actual reserve figures cannot be divulged, but we will tell you if an item carries a reserve should you ask."

Looks like Mr. Mitchell may be right, at least on some lots, you could be bidding against the owner and/or the auction house and not know it unless you ask.
James

[Dean Romig]

Mr. Brown and all interested parties - If the auction house is a bidder on any lot he must, in my opinion, publicly place his bid against the last bidder or, once again in my opinion, he is cheating the seller. This practice is unfair and again, in my opinion, unethical!!!!!

[Opening Day]

Originally Posted by Dean Romig

Mr. Brown and all interested parties - If the auction house is a bidder on any lot he must, in my opinion, publicly place his bid against the last bidder or, once again in my opinion, he is cheating the seller. This practice is unfair and again, in my opinion, unethical!!!!!

Yeah, what he said.. guess another name is ...

[Dean Romig]

Sorry Eric, I won't join you on that one.

[Opening Day]

Originally Posted by Dean Romig

Sorry Eric, I won't join you on that one.

Ok that was too harsh, but I agree with you on "unethical". Eric

[Bindlestiff]

As I think about this, I'm not sure this is a bad thing? The item isn't going to sell because nobody has bid up to the reserve, so they bid. The seller isn't going to sell the item anyway without another bid, so if they bid and another bidder counters and it is over the reserve, everybody wins. But, deep inside, it seems somehow wrong; if you know what I mean?

[charlie cleveland]

i dont understand all this...but then ive never been to a gun auction in person...i dont think ill be bidding on their guns... charlie

[6pt-Sika]

Any local auction company I've ever been to that was selling guns or whatever that had a reserve always announced this item will be started at such and such because thats what the owner set it at .

Went to a local auction about 5 years ago expressly to view and possibly bid on an original signed Pennsylvania flintlock rifle . Not until I sat there for 2 hours waiting for it to come up did I find out the gun had a reserve that was maybe $3000 over what I had planned to spend . On the one hand they told us upfront when it was brought forth . But on the other hand if it had been disclosed in their catalog it would have saved me the trouble of driving the 25 miles to Charlottesville , sitting there for almost 3 hours for nothing and the return trip home !

Oh yeah no one bid on the rifle .
Now when i go up and preview their auctions I generally leave an absentee bid and before I do that I aks if the item has a reserve .

To be totally honest my patience for sitting in the auction house is next to nothing . There are a couple other places semi close to us that generally have semi annual gun auctions that my father and I attend . And generally if they have something I want I will wait since they are a bit of a drive . Also preview the same day as the auction which tends to make it longer . But sometimes it works out and alotta times it doesn't .