OT (Sort of...) − Auction Formats: 'Buy It Now' vs. The Rest
We have a carpenter doing a lot of odd jobs around the house lately. He asked that I find him a Rock Island 1911 .45 for a decent price.
On a whim I bid on one listed on Gunbroker a few days ago. Imagine my surprise when I won against 5 or 6 other bidders, and managed to pick it up NEW for significantly below wholesale. Oh, did I mention it has the XT22 top end as well? 
The seller was ok with the end price, not thrilled of course, but as he said, it more than evens out for him over time. So even in an open bid auction, the blind squirrel occasionally finds the acorn. It can happen. I simply bid the maximum I am willing to pay and just wait and see.
Last year I picked up a Ruger LCR for wholesale by simply biding my time, and that was when those were a hot item.
Patience grasshopper!
Otony
Complete thread:
- OT (Sort of...) − Auction Formats: 'Buy It Now' vs. The Rest -
FOG,
2013-03-19, 17:25
![[*]](themes/default/images/complete_thread.png "Open whole thread")
- The intent of an auction is to get the most money -
Hobie,
2013-03-19, 18:43
- I get the basic idea alright -
FOG,
2013-03-19, 18:57
- I get the basic idea alright - Hobie, 2013-03-19, 20:44
- I get the basic idea alright -
FOG,
2013-03-19, 18:57
- I guess the other thing I was saying is -
FOG,
2013-03-19, 20:58
- I bid what I'll pay and no more. Do that at live auctions -
Hobie,
2013-03-19, 21:53
- I bid what I'll pay and no more. Do that at live auctions - Otony, 2013-03-19, 22:48
- I bid my max, leave it in the Lord's hands... -
Boge Quinn,
2013-03-20, 07:51
- "I bid my max, leave it in the Lord's hands..." Yes, IF - Hobie, 2013-03-20, 18:09
- I bid my max, leave it in the Lord's hands... - Catoosa, 2013-03-20, 20:17
- I bid what I'll pay and no more. Do that at live auctions -
Hobie,
2013-03-19, 21:53
- OT (Sort of...) − Auction Formats: 'Buy It Now' vs. The Rest -
Otony,
2013-03-19, 22:00
- Patience is a virtue -
FOG,
2013-03-19, 22:27
- Patience is a virtue - Jared, 2013-03-20, 13:21
- Patience is a virtue -
FOG,
2013-03-19, 22:27
- Generally, I throw up what I am willing to pay and... -
Hoot,
2013-03-20, 13:24
- I suspect the penny auctions with a reserve are often - Hobie, 2013-03-20, 18:11
- I also avoid auctions with 'Reserve' prices - FOG, 2013-03-23, 12:46
- OT (Sort of...) − Auction Formats: 'Buy It Now' vs. The Rest -
Charles,
2013-03-23, 14:02
- RE: #3 - FOG, 2013-03-23, 15:48
- The intent of an auction is to get the most money -
Hobie,
2013-03-19, 18:43