Gun auctions are often preferred by buyers looking for a bargain. Of course, new guns are expensive, and many can’t afford them. So, they look for used guns at auctions. Others choose to buy guns at firearm auctions because they are looking for some antique and rare pieces that would be valuable addition to their gun collection. Regardless of your motive to buy guns at an auction, it is important that you understand how these auctions work and how you should take part in the bidding process.
If you are looking to buy guns at firearms auctions in Florida, here are some buying tips that will help ensure you come out with the desired firearm and don’t overspend to secure the deal.
1. Know What You’re Looking For And Avoid Distractions
There can be lots of guns presented at auctions, and new buyers can easily get overwhelmed by the choices in front of them. Eventually, they make the wrong decision only out of excitement. However, you can avoid that by knowing beforehand what you are after. Most auctions publish their sale catalogs well before the auction date, and they are available both online and in print form. So, it always pays to single out the firearms you are looking to buy and then focus on the relevant lots only when the auction goes ahead.
2. Set Yourself A Budget, And Don’t Get Into Bidding Wars
Unless you are looking to secure a prized item at any cost, and the budget is not an issue for you, always try to avoid bidding wars. Bidding wars are common at auctions, and they can easily take you over and beyond your set budget to secure a firearm. You can easily get carried away and end up paying not just more than your set budget but even more than the item’s actual worth. So, even though you might think you have won the bidding war, you’ll be the loser ultimately. When you go into an auction, set yourself an upper limit after accounting for all commissions and fees, and stick to it.
3. Remember The Auctioneer Isn’t Working For You
The job of the auctioneer as to sell firearms to the highest possible bidder so that the seller makes the most of it and they are paid a higher commission. They usually receive a set percentage of the gavel price, which means the more a firearm is sold for, the more money they make. They try to take advantage of the enthusiastic buyers and take the price of the items being auctioned higher. So, make sure you don’t let them know how enthusiastic you are about a firearm ahead of time.
4. Inspect The Firearms Before The Auction
That’s essential. Most firearms auctions have a preview period in which the buyers can inspect the firearms before the auction. Make sure you show up there and inspect the firearms in detail. You shouldn’t just check the guns you want to buy but also the guns that might grab your attention if sold for a bargain. During an inspection, make sure you have a magnifying glass, bore light, strong flashlight, and other tools that might come in handy. Seek permission before you remove grips or disassemble the firearm, though.
Follow these simple tips, and you’ll be able to bag a fine deal at a firearm auction. So, whenever you plan to attend the next firearm auction, go there well-prepared and make the most of it.