Rock Island Auction Fees / Rant

[mistanate]

I participated in my first Rock Island Auction back in July and felt like I got a decent deal on a Norinco 320 at $1,000 hammer price. I understood there would be ~20% in fees, plus shipping and tax on top. It was about 30% on top of the hammer price - what I anticipated.
I just won my second one last week for a nice Savage 1907 for $425. The actual auction fees were the same, but they seemed to have added a CC fee of 3.5%. Shipping seems outrageous at $61 for a little pistol, compared to the $46 I paid for a rifle with 16" barrel and a bunch of accessories boxed separately. The Norinco came in a huge box that was about 12" x 12" x 36". The total cost on the Savage pistol ended up being almost 50% more than the hammer price - definitely not what I anticipated.

That's my rant. My question for you regular auction folks is: is there any secret on these auctions - is it best to go for multiple firearms in each auction, or is this about normal?

 

[chopper_man]

Sound like overnight shipping.​

What is the “Buyer’s Premium”?​

A buyer’s premium is a percentage added to your winning bid. It’s how auction houses pay the bills. At Rock Island Auction Company, the buyer’s premium is 17.5% for our Premier, Sporting and Collectors, and Arms and Accessories auctions, and 18.5% for our RIAC on Time auctions. All purchases made by credit card are subject to an additional 3.5% service fee. If the purchaser utilizes RIAC’s live bidding platform ‘RIAC Live’, there will be a fee charged, calculated as an additional 1% of the hammer price.

What is the “Buyer’s Premium”?

Frequently Asked Questions about firearms auctions: What is the “Buyer’s Premium”?

www.rockislandauction.com

 

[LTCRN]

I gave up on online auction houses. The auction houses know the prices and in the end, after fees, you're better off finding the item you are lookin for on NES IMO.

 

[Mesatchornug]

Sound like overnight shipping.

Exactly my thought. IIRC, pistols have different regs for shipping than rifles.

 

[Maxrobot]

I am disappointed in current postage prices. I've sold some things to friends and was shocked to see how shipping ate into my portion. I thought I was helping my friends with low prices but my paying shipping hurt.
I think you can drive to Manchester, NH and pick up your items from Amoskeag and not pay shipping.

 

[Rick O'Shea]

The aggressive marketing phone calls for each auction eventually pushed be to tell em to EABOD's!

 

[mistanate]

It very well could be expedited (overnight or 2nd day) shipping, true. That $61 also covers their labor and materials for packaging, so there's that as well.

Lesson learned I suppose. I'll still frequent the auctions but use a healthier percentage for fees/shipping/processing. There are still deals to be had here on the forum, gunbroker, and the auction sites!

 

[CrackPot]

Couple observations on shipping. Long guns will ship ground, usually UPS ground which is the most affordable. Pistols will ship air so 2nd day express or 2nd day UPS or priority USPS. That is by definition more money than shipping a rifle ground.

Having received stuff from RIA I can tell you they pack them VERY well. Actually as the person opening the boxes, I hate them. They wrap everything individually in its own bubble wrap and fill every nook and cranny of the box. Nothing will ever get damaged that they ship. So good for you. Bad for your wallet. Bad for me to unwrap stuff.

 

[Rockrivr1]

I won an auction at Austin Auction Gallery last week and I was OK with the overall cost and fee's associated. What I'm not thrilled about is the $100 shipping charge to get it into MA. They have you over a barrel and they know it. Never participating in one of their auctions again.

 

[mac1911]

Auctions are for those that WANT IT. Not about cost. Smaller auctions and estate sales with firearms might be slightly better.

I have not won a auction yet that was such a better deal than I could find locally. It was just easier than looking for it locally

 

[jkelly1229]

I gave up on online auction houses. The auction houses know the prices and in the end, after fees, you're better off finding the item you are lookin for on NES IMO.

I got a lnib glock custom cerakote and stipple job

 

[42!]

A lot of what I have came through RIA, never had a bad deal, some where absolute gold. But I've ben playing the auction game (not just guns) for a long time, from the antiques my father went to, to the cars, postal auctions, and houses (bidding for my FIL). And there are definitely ways to maximize your success rate.
First is to always know the added costs, RIA is pretty good with this, the buyer's premium and credit card cost is well documented. The shipping isn't documented, but you do have the option of picking it up or arraigning your own transport. They do a great job on the packing, and that's worth something. Obviously there is a minimum cost for packing. Packing a $100 pistol is the same as a $1000 pistol.
Then it's set a budget and stick to it. Sounds easy... till it isn't.
And in RIA's multi day auctions you're likely to see some good deals in the afternoon of the second to last, and last days. Keep in mind, bidding on live auctions requires an account and live bidding approval in advance.

And if you're really into planning, they will do conditional bids. These are sealed bids that only are applied under specific circumstances. Say you want a certain item and the are 4 lots with what you want. You can structure you bids so that if you win one the remaining bids are canceled. You do have to set this up with a rep.

 

[42!]

Auctions are for those that WANT IT. Not about cost. Smaller auctions and estate sales with firearms might be slightly better.

I have not won a auction yet that was such a better deal than I could find locally. It was just easier than looking for it locally

I got a lnib glock custom cerakote and stipple job

You guys should see the Walther PP and P-38 lot I got. German production late 40s, no import stamp. Absolutely new in the original boxes with all the original docs and tools, and numbered second mag, even the test targets. All in I could have tripled my money on GB the next day.
Listing only said original box, manual, and second mag. Pictures showed the lack of stamp, but you have to look close. And then I just got lucky. But I was only looking for a shooter.

Or are you guys referring to Gunbroker and armslist, which are not really auctions, they are brokered sales, big difference.

 

[citoriguy]

What is a “live bidding fee?” It’s not a large amount, but I don’t use auctions (except for live charity auctions).

 

[jkelly1229]

You guys should see the Walther PP and P-38 lot I got. German production late 40s, no import stamp. Absolutely new in the original boxes with all the original docs and tools, and numbered second mag, even the test targets. All in I could have tripled my money on GB the next day.
Listing only said original box, manual, and second mag. Pictures showed the lack of stamp, but you have to look close. And then I just got lucky. But I was only looking for a shooter.

Or are you guys referring to Gunbroker and armslist, which are not really auctions, they are brokered sales, big difference.

I was just making fun of the prices u see on the classifieds here

 

[42!]

What is a “live bidding fee?” It’s not a large amount, but I don’t use auctions (except for live charity auctions).

Never heard of this. Is it something RIA is doing on their new “live” auctions. This is something new and different than their usual auctions that have multiple bidding options, including live online. I think they are small online only things, seems like a waste of time.

 

[Agnotology]

The fees are how they let you "pay" $400 for a $800 pistol but it actually costs you $600. You save money, they make money, and everyone profits. At least, that is how they probably present it.

 

[42!]

The fees are how they let you "pay" $400 for a $800 pistol but it actually costs you $600. You save money, they make money, and everyone profits. At least, that is how they probably present it.

Are you talking bidders premium or this live fee thing

 

[Agnotology]

Are you talking bidders premium or this live fee thing

I a referencing the totality of costs above and beyond your bid.

Just using his posted examples: He got the $800-850 pistol with a winning bid of $425 and it cost him about $625 all in. Still saved, but anyone who gets an item via auction is going to say they got it for $425, and swipe the other costs under the rug. Ditto for the Norinco - $1600 gun, winning bid of $1000, $1300 with fees.

Gunbroker is funny though, this thing looks like it's been used a machete to clear thorn bushes but is still called new in box

Norinco Uzi 320 9mm NIB WITH ORIGINAL ACCESSORIES - Semi Auto Rifles at GunBroker.com : 1067336285

Buy Norinco Uzi 320 9mm NIB WITH ORIGINAL ACCESSORIES : GunBroker is the largest seller of Semi Auto Rifles Rifles Guns & Firearms All: 1067336285

www.gunbroker.com

 

[travx]

Rock Island is terrible. A couple of years ago, I won an auction that included about a dozen preban magazines. They refused to ship them to me in MA. I offered an address in NH and they refused that as well. I avoid their auctions (sorry Gun Jesus).

Stick to the local companies: Poulin and Amoskeag. They are both great to deal with.

 

[mistanate]

You guys should see the Walther PP and P-38 lot I got. German production late 40s, no import stamp. Absolutely new in the original boxes with all the original docs and tools, and numbered second mag, even the test targets. All in I could have tripled my money on GB the next day.
Listing only said original box, manual, and second mag. Pictures showed the lack of stamp, but you have to look close. And then I just got lucky. But I was only looking for a shooter.

Similar on the Norinco I picked up- it was in an (easily removable) aftermarket chassis of some sort that by itself is worth a few hundred. The listing said "with original box", but just had 3-4 pics of the rifle in the aftermarket chassis. Turns out, the rifle had never been fired, came with the somewhat valuable chassis, along with extra mags, original docs, sling, sight tool, dummy barrel, etc, etc that would put the value up around $1800-2000 IF it was marketed as such on Gunbroker.

Gunbroker is funny though, this thing looks like it's been used a machete to clear thorn bushes but is still called new in box

Norinco Uzi 320 9mm NIB WITH ORIGINAL ACCESSORIES - Semi Auto Rifles at GunBroker.com : 1067336285

Buy Norinco Uzi 320 9mm NIB WITH ORIGINAL ACCESSORIES : GunBroker is the largest seller of Semi Auto Rifles Rifles Guns & Firearms All: 1067336285

www.gunbroker.com

The phosphate finish on the Norinco 320 is much less durable than IMIs thick coat of black paint. Believe it or not, I don't doubt the listing you linked has never been fired!

 

[CrackPot]

Rock Island is terrible. A couple of years ago, I won an auction that included about a dozen preban magazines. They refused to ship them to me in MA. I offered an address in NH and they refused that as well. I avoid their auctions (sorry Gun Jesus).

Stick to the local companies: Poulin and Amoskeag. They are both great to deal with.

Now they would be correct to not ship the preban mags with our retarded new law. But a couple years ago, they were the retarded ones...