Bad Auction Carbine

U.S. Military Krags
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Whig
Posts: 1992
Joined: Sat Sep 24, 2016 12:53 am

Bad Auction Carbine

Post by Whig »

So, Lewis & Grant serves up another bad Krag description. I had an issue with misrepresentation of a Model 1892 Krag I bought a couple years ago. Lied about some info in the description. They fully refunded my money and paid me $100 extra for my trouble. Of course I sent the rifle back for them to resell.

This one is a beautiful Model 1896 calvary carbine in great condition with a beautiful 1895 cartouche. It was advertised in the item description , also, as having a correctly marked Model 1896 carbine rear sight. I put a fairly healthy bid on it and was hopeful to be the new owner. I checked back every few days to see if new bids had been placed. Looked good. I usually look again and again to make sure I didn't miss anything important. On checking again this past Saturday, I notice a quiet change in the item description. Now it clearly states that the rear sight is a rifle sight marked to look like a correct Model 1896 carbine sight. Whew!! I never would have bid on this! That rare Model 1896 carbine rear sight, as we well know by now, is valued around $1,000!

So, I contacted Proxibid and had my bid removed. I told them why, also, and that I'll never bid on anything else from Lewis & Grant. Just don't trust them anymore!

Watch those details!
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03collector
Posts: 46
Joined: Sat Apr 16, 2022 7:26 pm

Re: Bad Auction Carbine

Post by 03collector »

Sorry to hear your trouble, that is why when it comes to firearms I will not bid unless I can see it in person. Or if I know someone who will be their I trust.

03collector
Posts: 46
Joined: Sat Apr 16, 2022 7:26 pm

Re: Bad Auction Carbine

Post by 03collector »

To me a dead giveaway is the auction est. $600 to $900, to me thats a red flag 🚩. That's the price with a rifle sight if it were the correct sight that carbine is rwice that price.
I don't care what auction house your dealing with be careful.

03collector
Posts: 46
Joined: Sat Apr 16, 2022 7:26 pm

Re: Bad Auction Carbine

Post by 03collector »

Fat fingers iI ment twice the price.

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Dick Hosmer
Posts: 2273
Joined: Sun Nov 20, 2005 4:11 pm

Re: Bad Auction Carbine

Post by Dick Hosmer »

Don't know if that was the Rutter auction, but I was appalled at the low prices that L&G put on his stuff. Now granted, Bill (like myself) was not a "condition" collector but he had some very nice items, which I thought were undervalued.

Lead Snowstorm
Posts: 69
Joined: Sat Jun 29, 2019 3:20 am

Re: Bad Auction Carbine

Post by Lead Snowstorm »

As another example, Simpson's has a 96 carbine, specifically listed as having the correct rear sight, which of course proved on close examination of one photo to be a 96R sight.

https://simpsonltd.com/springfield-m189 ... ne-c50524/

Regarding auctions, I think the price 'estimates' are set with a couple of goals in mind, which may or may not be closely related to the actual value of the piece: 1) establish a starting bid (usually 1/2 of the low estimate), 2a) manage the seller/consigner's expectations, and 2b) drum up interest among buyers who think, despite this modern age of online bidding, that they might actually score the piece at an attainable price.

Considering the auction houses' interest in wooing both buyers and sellers, it is interesting looking at the estimates vs. the 'price realized,' which for at least a couple of major auction houses also includes the buyer's premium. Often the price realized does indeed fall in the estimate range. So the estimate on the front end probably is intended to encourage bidders to go in high (bid in the estimate range); but on the back end including the buyer's premium in the 'price realized' is probably to encourage consigners to go with them, without making it painfully obvious that if the 'price realized' falls in the estimate range, the actual hammer price was probably about 1/3 lower.

Regarding the latter, I find that if I take my bid and add 1/3 again to it, that tends to fall fairly close to what the final dollar hit will be, once buyer's premium/tax/shipping/etc. get added in. Of course, there are going to be a few percentage point difference between the premiums for each auction house. A word of advice: never place a bid using a third party site - they tack on extra percentages to the buyer's premium. Use the third parties to find stuff, and then go bid directly at the auction site. (Alas, this feels like telling about my favorite fishing hole, but hey...we're all in the collecting fraternity amirite?)

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butlersrangers
Posts: 9827
Joined: Wed Oct 07, 2009 11:35 pm
Location: Below the Bridge, Michigan

Re: Bad Auction Carbine

Post by butlersrangers »

I appreciate the sharing of information and try to be generous, with what I know .... or think I know.
There are probably about 12 KCA 'regulars', who regularly log-in and freely contribute interesting content and knowledge.

As I type this, I can't help noticing there are 4 registered members on the forum and 34 unregistered visitors!

I'm torn. I appreciate a 'heads up' on interesting auction items.
However, I can't help wondering, if posting an alert here may cause undue competition for a friend and make an auction item unreachable.

"I don't want to kill any KCA member's chance to score a good deal".

Maybe the forum's stated policy of not commenting on a live auction was a good policy? But, I do like knowing about stuff.

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