Rock Island Auctions
Has anyone had experience with Rock Island Auctions? How accurate are their descriptions of firearms and conditions? Are the prices typically "market" or high or low? Thanks.
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If it's a legitimate, well advertised, well attended auction? The prices realized would be considered, Fair Market Value.
If you're referring to their price estimates? I have always felt that folks running the auctions,tend to deliberately undervalue stuff. To draw in more bidders, with hopes that they could pick up a sleeper. At the estimated prices, published by the auctioneer.0 -
"How accurate"?
Have you read their "terms"? Everything is sold "as is", all sales are final, & their accuracy guarantee is limited to the information in the bold heading of an item. Does that make you feel confident? Not me!
None of the brick & mortar auction houses has enough good quality close-up photos to meet my needs. That don't come close to the photos posted by many GunBroker sellers.
RIA seems to get some amazing quality guns to sell. Some, I feel that their descriptions are accurate, others, well, I just don't know; I would really need to do a "hands on" inspection to be comfortable making a bid, especially since I'm going to have to eat $200 shipping if I return anything.
Based on the high prices folks pay for their guns, I'm inclined to think that their customers are primarily wealthy investors looking to diversify their portfolios, not advanced collectors.
Neal0 -
I agree with Neal on all counts "that is scarey in its self [}:)]"
You look through the catalog at estimated prices and Think "I would gladly pay THAT" AS IS no recourse I will have it in my hands FIRST or NOT BID . If you buy a catalog then they will also give you information AFTER the sale on Price it went for. Better than BLUE book if you want to keep up with going price in the real world.0 -
I have been a buyer since their first auction. In recent years, I have sold about 50 pistols through them.
These are well advertised and well attended auctions.
AS to prices I typically have found they to be good judges with their price ranges. However at the auction, A bidder with a gotta-have-it-now attitude, cash in his pocket, and an irrational exuberance will result in outrageous hammer prices - just like other auctions.
The do occasionally miss a description even in the bold print. In my case where the bold print was wrong, I was able to Return the gun.0 -
Rock Island is OK by me. I won a Colt 1905 automatic, cheap one as 1905s go, arrived with the takedown button missing. Told them about it, that I had once charged a client $150 to make one. They asked if that would satisfy the issue, to which I agreed. They sent me a check for $150.
Never had any other auction house that would even discuss description defaults.0 -
Rock Island description leave MUCH to be desired. They have listed and auctioned obvious fakes and misrepresented Winchesters the past few years. I would DEFINITELY NOT buy just based on the description that they have. You might be interested in this forum post: http://forum.winchestercollector.org/viewtopic.php?t=6696 This is just one example.
Michael0 -
Thanks to all that have offered insights to RIA. 0 -
Does anyone know what the commision rates to the seller are at RIA? I called them and they were unwilling to tell me a fixed commission rate over the phone. That made me wonder what level they were charging to the seller. I know they charge the buyer 15% but based on them so unwilling to discuss I wonder if they are charging much more than a small modest amount. 0 -
What I like about RI is their auction book, great photos and gives you a good idea about BallPark prices. Love the book as it is great reading and very attractive. Never have sold anything through them however so cam't comment on that part of the auction house. 0
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