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Discussion Starter · #1 ·
Well, it was obviously bought by a dealer and not a collector, as it has taken almost no time at all to make it into the next RIA Premier Auction coming up in December, putting the gun in front of a much larger, much richer (or foolish, depending on point of view, circumstances, etc.) audience. I'll learn how much money I turned away (or, much less likely, saved) by dropping out of the bidding when I did. I suspect that there's more than one person who will be willing to bid considerably more than the Centurion Auction hammer price.
 

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Well, it was obviously bought by a dealer and not a collector, as it has taken almost no time at all to make it into the next RIA Premier Auction coming up in December, putting the gun in front of a much larger, much richer (or foolish, depending on point of view, circumstances, etc.) audience. I'll learn how much money I turned away (or, much less likely, saved) by dropping out of the bidding when I did. I suspect that there's more than one person who will be willing to bid considerably more than the Centurion Auction hammer price.
They go for 40k to 60k on RIA from the past auctions

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It's called speculating. A lot of people with money do it. I don't know how much the owner may net after the auction fees are subtracted. He may loose money? You just never know. I prefer something that I could actually shoot once or twice a year.
That's not what I would call a shooter. We shall see.
 

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Discussion Starter · #8 ·
Sold yesterday, hammer price $50K, total cost to buyer approx. $65K. Had I won the Tallahassee Centurion auction at the next bid increment, which of course cannot be known without knowing the actual winner's stop price, I would have made about $8K net. As it stands, that Centurion winner probably made about $10K net on the in-an-out.
 

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Sold yesterday, hammer price $50K, total cost to buyer approx. $65K. Had I won the Tallahassee Centurion auction at the next bid increment, which of course cannot be known without knowing the actual winner's stop price, I would have made about $8K net. As it stands, that Centurion winner probably made about $10K net on the in-an-out.
I've been told the seller fee at RIA is also in the neighborhood of 18.5% - call it 20% to ease the calculations. If true, then the original owner receives 50k - 10k, or 40k, from RIA. If true, our entrepreneur didn't make anything. Do you know what RIA seller fees are? Interesting conversation.
 

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To the man who got me into collecting. You will always be remembered.. RIP DAD DECEMBER 7 2021.
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I saw that great looking gun. in all honesty would not be surprised if RIA bought in order to resell and make a profit. This is a little off topic, but related. Did anyone see the 96 LMG. I was bidding on the 96 that was torch cut registered. Which went Stupidly crazy IMO. The gun was to far gone, or was gonna be super super expensive to fix, unless you have some skills!

Thanks Gage!
 

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Discussion Starter · #11 ·
I've been told the seller fee at RIA is also in the neighborhood of 18.5% - call it 20% to ease the calculations. If true, then the original owner receives 50k - 10k, or 40k, from RIA. If true, our entrepreneur didn't make anything. Do you know what RIA seller fees are? Interesting conversation.
Not how it works. The BUYER pays the 18% "Buyer's Premium." The BUYER also pays 8.25% sales tax on all of that, plus shipping. The SELLER gets 100% of the Hammer Price.
 

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Discussion Starter · #12 ·
I saw that great looking gun. in all honesty would not be surprised if RIA bought in order to resell and make a profit. ...

Thanks Gage!
I have wondered that, as well, that is, whether RIA buys and then auctions stuff off for their own account. There's nothing wrong with that, to be honest -- they are like any other buyer at any other auction. Can't begrudge them for seeing a good deal at the Tallahassee Centurion auction if that's what they did.
 

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Sold yesterday, hammer price $50K, total cost to buyer approx. $65K. Had I won the Tallahassee Centurion auction at the next bid increment, which of course cannot be known without knowing the actual winner's stop price, I would have made about $8K net. As it stands, that Centurion winner probably made about $10K net on the in-an-out.
Peter:

Please post a link to the auction in question if you can.

Thanks.
 

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Not how it works. The BUYER pays the 18% "Buyer's Premium." The BUYER also pays 8.25% sales tax on all of that, plus shipping. The SELLER gets 100% of the Hammer Price.
Peter, I had already gone to the RIA site and tried to figure it out. They list fees such as photography, storage, advertising, auction, etc., yet do not specify amount. So, apparently, the seller does not get all of the hammer price. Someone else had told me some time ago the total is pretty high. It seems if the fees were low they'd publicize them.
 

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Not how it works. The BUYER pays the 18% "Buyer's Premium." The BUYER also pays 8.25% sales tax on all of that, plus shipping. The SELLER gets 100% of the Hammer Price.
They double dip. There is a consignment fee % paid by seller AND a buyer. Sometimes they will negotiate the percentage on large items that draw people in.

 

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Discussion Starter · #18 ·
They double dip. There is a consignment fee % paid by seller AND a buyer. Sometimes they will negotiate the percentage on large items that draw people in.

Fair enough. If that's the case, then there's no reason to buy for their own account.
 

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Discussion Starter · #19 ·
I would guess (and it is a guess, having not ever consigned with them) that the flat percentage is a decreasing sliding scale -- the higher the value of the item, the lower the percentage fee. The consignor is (or, at least, should be) in the driver seat there because the Buyer's Premium for high dollar value items more than covers all of the actual RIA costs and expenses that are itemized in their informational stuff. I would also guess that RIA doesn't even break even on a large number, maybe even a very large number, of relatively low value items, but they make up for it -- and then some -- on the higher value ones. Where that break-even line falls, your guess is as good as mine.
 

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I have been in contact with Rock Island for years to come down to Florida and give me an estimate on consigning my collection for selling on their Auction Site. They keep telling me they are coming to Florida but I never hear from them or see them. I have my standards for selling my collection and they seem to agree but never follow through. At least Centurion Auction at least made the trip and wants to consign my complete collection. My problem is, I keep buying and my inventory changes daily. Still looking for the end of the road.
kaydee
Dwight Brown
 
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