Went to a gun and coin auction today.

[ProMed]

I literally had to stand in the door since the place so packed. Glock 29 sold for $550, same price as a new one.. Bushmaster sold for $1200... 50 box of 45 sold for 40... funny thing is that the wal-mart had full shelves of 45 the night before. I should also mention you have to pay a 10% buyers fee and NC sales tax as well.

That pretty much summed up the experience. Buyers started leaving in force after the first 50 or so items. They were all just laughing about the prices. I lasted for around the first 100, but the Glock 29 sent me laughing out the door as well.

I guess most people haven't gotten the memo yet that prices are coming back down.

[Tard]

Auctions are designed to excite the human brain's competition centers.

It's reptilian, we've all felt that bizarre urge to GET IT BEFORE SOMEONE ELSE DOES - NOW!

Even the stupid way the guy chants is designed to confuse you in to thinking someone else is bidding on it and you are LOSING it.

The times I've been to an auction, one of two things happened: used stuff sold for more than new or prices were so low they halted the auction and sent everyone home mad.

Oh, one time I went to an IRS auction for an autobody shop and some guy walked in and bought the entire thing with a 'buy it all' bid.

However, they are fun to watch, don't look at the stage look at the PEOPLE. Holy crap.

[sc9]

i paid 307.79 for a whoopie cushion on ebay

[Groo]

Originally Posted by sc9

i paid 307.79 for a whoopie cushion on ebay

I think I'd have taken the non-paying bidder hit if I were you.

[iCreek]

Auctions around here are like that most the time, heck you can buy alot of the items new for what they sell for. Sometimes you just got to shake your head and leave.

[XD9OD]

I can remember going to a townhouse auction a few years ago and being the only bidder. The auctioneer started at $100k, and I finally put a bid in at $60,000. It wasn't worth the $86k the owners were looking to get, as it needed lots of work, which I was willing to do, but not for the age of the property and condition of the kitchen (which was nearly unbearable in its color scheme). The realtor for the sellers was clearly mad at me for putting a bid in at that price, but I told her---I'm sorry you're the person responsible for selling this place, but it's not worth $86,000. My offer is $60,000 and I might consider $65k, so tell them that and contact me when you're ready. Thankfully I never heard back

[CMANavy]

I went to the Battlestar Galactica Auctions in January and May. those were alot of fun and it was cool to see how an auction works. I like seeing what things go high for really no reason and thing that should be high go for an absolute steal.