if anyone is thinking about selling some guns through some of the more popular auction sites, just thought I'd give a heads up on a recent experience I had consigning some guns for auction through a couple of FFL's, one FFL who runs penny auctions through Gunbroker.com and one who runs penny auctions through Gunauction.com.
My Gunbroker FFL's fee's are 18% of hammer price with a $75 minimum.
Some of the Gunbroker auction results this last month:
Ruger GP100 .357 magnum, 4" blued, LNiB.
Hammered for $455
Subtotal was $473.20 with card fee
Shipping was $35,
Taxes were $28.39,
Fees added by GB $4.55
Total was $541.14.
FFL consignment fee was $79.35
The seller described additional Gunbroker fees coming out of my payment as,
6% of $400 = $24.00
4% of $55 = $2.20
Of the $455 hammer price I received $349.45, or roughly 76%.
Sig Sauer P320 X5, condition 98%
Hammered at $531.26
Subtotal with CC fee's $552.51
Shipping $35
Taxes $32.32
Gunbroker Fee's $5.31
Total paid $625.14
FFL consignment fee was $92.90
The seller described additional Gunbroker fees coming out of my payment as,
6% of $400 = $24.00
4% of 131.26 = $5.25
Of the $531.26 hammer price I received $409.11, or about 77%.
Ruger Old Army Stainless, 7 1/2", condition 95%
Hammered at $671
Subtotal with CC fee $697.84
Shipping $45
Taxes $44.57
Fee's $6.71
Total payable $794.12
FFL consignment fee was $117.70,
The seller described additional Gunbroker fees coming out of my payment as,
6% of $400 = $24
4% of $271 = $10.85
Of the $671 hammer price, I received $518.45, or about 77%.
I sold several more, but the results were all pretty much the same. All hammered for a low price, but with fee's and taxes the buyer actually paid about fair value, which it looks like buyers are taking into account.
My FFL's fee's are reasonable, IMO.
Gunbroker fee's are not.
Compare this to a SAA I auctioned off last month on another auction site, Gunauction.com, that sold for a fair price of $1805, with an FFL fee of 15%, $150 minimum. The check I received was exactly 85% of the hammer price, or $1534.
I will not be consigning any more guns for sale through GB due to the extra fee's they charge to the seller, in addition to the fee's charged to the buyer. My take on the five guns I sold was 65% of the final price after all taxes and fee's. GB is just too greedy considering they offer next to no customer service or buyer protection and are rife with fraudulent sellers.
I don't know how GB sellers are inciting bidding wars that result in crazy hammer prices, but I didn't see that, and without that kind of action the extra fee's that GB charges just don't make sense. Thats the whole point of being the big dog, you should be making up for extra fees by getting more action and traffic. Without the action I might as well stick to some of the smaller auction sites. I might get a lower hammer price but without the fees I suspect I'd do better overall.
My Gunbroker FFL's fee's are 18% of hammer price with a $75 minimum.
Some of the Gunbroker auction results this last month:
Ruger GP100 .357 magnum, 4" blued, LNiB.
Hammered for $455
Subtotal was $473.20 with card fee
Shipping was $35,
Taxes were $28.39,
Fees added by GB $4.55
Total was $541.14.
FFL consignment fee was $79.35
The seller described additional Gunbroker fees coming out of my payment as,
6% of $400 = $24.00
4% of $55 = $2.20
Of the $455 hammer price I received $349.45, or roughly 76%.
Sig Sauer P320 X5, condition 98%
Hammered at $531.26
Subtotal with CC fee's $552.51
Shipping $35
Taxes $32.32
Gunbroker Fee's $5.31
Total paid $625.14
FFL consignment fee was $92.90
The seller described additional Gunbroker fees coming out of my payment as,
6% of $400 = $24.00
4% of 131.26 = $5.25
Of the $531.26 hammer price I received $409.11, or about 77%.
Ruger Old Army Stainless, 7 1/2", condition 95%
Hammered at $671
Subtotal with CC fee $697.84
Shipping $45
Taxes $44.57
Fee's $6.71
Total payable $794.12
FFL consignment fee was $117.70,
The seller described additional Gunbroker fees coming out of my payment as,
6% of $400 = $24
4% of $271 = $10.85
Of the $671 hammer price, I received $518.45, or about 77%.
I sold several more, but the results were all pretty much the same. All hammered for a low price, but with fee's and taxes the buyer actually paid about fair value, which it looks like buyers are taking into account.
My FFL's fee's are reasonable, IMO.
Gunbroker fee's are not.
Compare this to a SAA I auctioned off last month on another auction site, Gunauction.com, that sold for a fair price of $1805, with an FFL fee of 15%, $150 minimum. The check I received was exactly 85% of the hammer price, or $1534.
I will not be consigning any more guns for sale through GB due to the extra fee's they charge to the seller, in addition to the fee's charged to the buyer. My take on the five guns I sold was 65% of the final price after all taxes and fee's. GB is just too greedy considering they offer next to no customer service or buyer protection and are rife with fraudulent sellers.
I don't know how GB sellers are inciting bidding wars that result in crazy hammer prices, but I didn't see that, and without that kind of action the extra fee's that GB charges just don't make sense. Thats the whole point of being the big dog, you should be making up for extra fees by getting more action and traffic. Without the action I might as well stick to some of the smaller auction sites. I might get a lower hammer price but without the fees I suspect I'd do better overall.
