Accessories & Gear
A Basic Guide to Buying a Gun at Auction
Auctions offer buyers a good opportunity to buy recreational, sporting or defensive firearms. In other words, auctions offer a range of items for bidding. Out of all of these items, the most popular is nevertheless a gun!
So, do you know how to buy a gun at an auction?
Well, buying a gun at an auction is always easy and fun, and definitely, there are good deals to grab. But with that, it is also easy to end up with buyer’s remorse due to a wrong purchase.
So, as you make your mind to buy a gun at an auction, there are a few steps that you must take. All of these steps will help you in making a well-informed decision and in closing a favorable deal, regardless of whether you are buying a gun for personal use or for resale.
Let’s have a look!
Check Out the Guns’ Listing
If you are about to attend an auction of a reputable company, chances are that they will post the sale guns listings beforehand. This helps people attending the auction in knowing the offered items and in deciding what they would like to buy. So, go through the list and check out the guns you would be interested in buying on the auction day.
Do the Homework
If you are inclined to buy a particular gun at an auction, keep yourself updated on the auction day. For this, do check out different gun auction websites and compare the similar guns. There are various good resources to check the actual price of a gun. All of these resources serve as a great guide in the evaluation of current gun value.
The purpose of this step is to decide the price that you would be willing to pay at the gun auction and note down those numbers. However, if you are going to buy a gun at an auction for the first time, then it’s better to accompany a friend who can bid for you in case you feel overwhelmed.
Inspect the Gun before the Auction Day
If you are looking to buy a gun at an auction, you may considering visit the site to inspect and review the specifications of the gun which you intend to buy before the auction starts. Review the reference guide because, at auctions, guns are mostly sold on the basis of their levels of conditions. Therefore, if you pre-determine the firearm condition, it will help you in reviewing the price that you first intended to bid against the purchase. Since most guns are purchased by the highest bidder, regardless of whther the item is worth the price, you must know when you need to stop bidding and when the item is no more a good bargain. Lastly, as you review the gun before the auction, make sure that the gun is unloaded and pointed downwards.
Don’t Be Afraid To Initiate Bidding
If you really want to buy a gun at an auction, you must not be afraid to raise your hand for bidding. Without that, you cannot buy a gun. With that, it is also important to ensure that the auctioneer sees you bidding. Most people remain afraid of being upfront with bidding. They either nod their heads or make a slight impression of bidding which causes a lot of missed bids. Keep your biding intention clear and obvious by either raising your bidder card or hand.
If you are attending an auction for the first time or putting forward your first bid, chances are you might feel anxious. So, as stated earlier, get along with a friend/family member who is familiar with these experiences and would help you in bidding and purchasing the desired gun.
Understand Auction Terms and Absentee Bidding
Some auction terms include a fine print regarding the extra charge over buyer’s premium. This means that a buyer pays a set amount on top of his/her high bid. Moreover, some auction companies might charge sales tax. But all of this needs to be disclosed before the auction in addition to acceptable payment modes.
Similarly, some companies allow the interested buyers to leave an absentee bid after inspection of the gun. You can do this over the phone as you call the auction company before the auction. This way, the auctioneers not only handle the absentee bid but also provide them complete gun description.
Conclusively, the most important step involved in buying a gun at an auction is to attend the auction of a reputed auction company. This would take away half of your concerns already!
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