I went to a police auction of seized items up in Jay, OK many years ago. They started by selling furniture and other odds and ends. Everything went low.
There was a table of seized guns. Some were good some were real junk.
Suddenly around 1:00 PM it was like an electric charge went through the crowd and they surged forward! THEY WERE SELLING THE GUNS!
People bid and bid. Junk went for high dollar. Guns in good shape went for almost new prices! I could not believe it. There were NO bargains there.
Several years later a local pawn shop owner went to another pawn shop auction over in Huntsville, Ark. He hoped to pick up some bargains.
He came back empty handed and told me he wishes he had loaded up all of his guns and took them to the auction. He said people simply lost control and were paying almost new prices for used guns there.
Sheesh!!! I wouldn’t think anyone knows them towns.
You a fellow Okie ???
In 1973 I went to a general antique auction in North Sacramento. At the time I was the gun buyer and appraiser for Simms Hardware’s Gun Department, which had been named #1 Gun Dealer in the US the year before. I was also a qualified expert witness in the California Courts on identification and valuation of Antique firearms.
In any case, the auction house had a very nice Winchester 1873 octagonal barrel rifle going up for auction with rare double set trigger and a 28” barrel, two inches longer than factory default. I estimated it was worth $275-$300 max at a time a good standard 1873 was worth around $175-$200. I wanted this for my collection because of the special features.
When they brought the rifle to the auctioneer, he said “I don’t know what this gun is, but it says Winchester.” At which point a buzz started around the hall. “Winchester!” “Winchester...” “Winchester.” “Winchester...” “Winchester...” It was amazing... Next to me, a woman said, “What’s that?” and her friend said “I’m not sure but I saw a Jimmy Stewart movie that had one in it once.” I couldn’t believe it... the auctioneer then said “Let’s start start the bidding at $750!”
There were paddles up all over the room, including the woman next to me who had asked “What’s that?” The bidding was fevered... And finished at $1875.00! I was too busy looking for my jaw on the floor to see what idiot bought it for $1600 more than it was worth. That price at that time could have bought the buyer a pristine 1873 with grade C factory engraving with carved gold inlays. Sheesh!
On the other hand, I attended an auction at the California Department of Fish and Game in 1974 that they had advertised as open to the public on a Saturday morning. They were selling around 1,600 guns that had been confiscated from poachers and unlicensed hunters. They DID NOT send notices to licensed dealers. This was the first such auction since the passage of the 1968 Gun Control Act. I was now managing the Olde Sacramento Armoury.
When I arrived there were over 3000 people walking around examining the rifles and shotguns laid out on the tables. I walked over to the registration table and handed them a copy of my Federal Firearms Dealers License and the clerk said “What’s this?”
“It’s my FFL, the license I have to file with you to be able to bid or buy these guns according to both Federal and State law.” I tell her.
“What are you talking about? This is a public auction. Open to any one. . . anyone can bid and buy these guns.” The clerk tells me.
“No, they can’t. They’d have to buy from a licensed dealer and fill out a form 4473. Are you a licensed firearms dealer?” She shakes her head. “I didn’t think so...” I tell her: “State and Public Agencies are required by the Gun Control Act of 1968 AND the State of California to sell these confiscated guns ONLY to federally licensed gun dealers. You cannot, and in fact, are prohibited by law from selling to the general public. I am required by that same law to submit my license to you before bidding and purchasing. Doing otherwise is a felony punishable by a fine of $5000 and or 5 years in prison for each gun sold.”
“Oh, my!” She says. “Wait here!” She jumps up and dashes off. Shortly she comes back in heated conversation with three men. The one in suspenders comes up to me.
“I’m the auctioneer, these two gentlemen are with the Department of Fish and Game. What’s this all about?” I repeat what I told the clerk. “That can’t be right...” He says.
“It’s the law. I’m not crazy about it, but both you and I have to live with it.” I tell him. “Why don’t you call the ATF and ask them, or the Federal Attorney.” He took my FFL copy and the Fish and Game guy and he went into their office. The clerk looked at me and said, “If you’re right, there are gonna be a lot of pissed of people here!”
About fifteen minutes later, the auctioneer came out and went on the PA system to announce “I’m sorry to inform you folks that Federal Authorities have ruled that today’s auction will only be for licensed firearms dealers. All previous auction registrations issued are no longer valid. Since we advertised the auction, we can’t cancel it and reschedule it. All dealers must file their Federal Firearms Dealers Licenses with the clerk. Only new registration cards will be recognized at the auction. We are truly sorry about this misunderstanding!”
There were three of us licensed dealers there. I bought around 520 guns for a little over $1600. The auctioneer was almost in tears. The auctions went $1, $2, $3 . . . Sold... we took turns winning. Most were what we termed “Terrible Turkeys,” that my shop sold “Your Choice $10” from a barrel, but there were some really fine guns. One I spotted and positioned myself to win that more than paid for all of them... An M1 Carbine made by Singer Sewing Machine Company... a company that NEVER got a contract to make M1 Carbines. It was one of the ten proof guns they were required to submit on applying FOR a contract! We sold it for several times what I spent on ALL the guns I bought at the Department of Fish and Game Auction that day.