So as you may or not be aware, I am sort of a gun auction junkie. Ever since March of 2012, I have either attended, in person to bid, or bid online in about 48 Hessney Auction Company auctions since then. So that averages out to about four per year. I note, I just checked my files on my computer to count my auction receipts, I did not check my hard copies, there may be more than 48 altogether. I should note, in the beginning few years, I was lucky to attend one or two per year. After that, I attended at least a few per year and in recent years have bid in just about every firearms auctions (now called Sportsman auctions and Military & Sportsman auctions but I'll just refer to them as firearms auctions). For instance, last year in 2023, I bid in 11 of their firearms & ammo auctions; this year (all online only ever since COVID), so far, I have bid in four of them. In recent years I do not think I have missed miss an opportunity to bid in any of their firearms auctions. I may not always wind up with a high bid on a gun but always wind up getting something firearms related.
Well, those last two sentences above might have been a bit misleading making you think I have bid in every one of their firearms auctions and that I have bought something from every one of them in recent years. I should have said that up until this month I have always done so; this month, their auction was on Saturday August 3rd. and I missed it. As usual, I sent Joe Hessney and his crew an email asking them about several guns and some other things in which I had a keen interest. Then on Saturday morning the 3rd, I got out of bed a bit later than I had wanted and got my car loaded up to attend a local to me gun show. I got Skye in the car and headed to the dog park with her. After that it was direct ton the gun show where I finished setting up. The gun show opened at 0900 CDT, the auction began at 1000 EDT. Same time but in different regions. Well, this knucklehead forgot all about the auction which I had intended to view online by way of my phone. By the time I remembered the auction was running, every firearm had been bid on and sold. Well, because of my forgetting the time, at least there was some money saved; I figure at least a grand, probably more.
As for losing money, at the gun show, I sold three guns & a stripped AR-15 lower, a few to maybe several boxes of ammo, a couple or few rifle magazines & access ores and a couple of holsters. That is where I lost money. The show tables, of which I had two, were $65.00 each, so $130.00 total. Of the three guns I sold, two went at a loss as did the lower. One gun, an Iver Johnson Sealed Eight Target revolver went for $2.25 more than I paid for it (not taking into consideration gas to drive the 310 miles to the auction and then the same mileage for the return trip, the hotel and other expenses). So actually,I lost money on all of the guns. That was okay, I was still happy with how much cash I recouped. I needed to replenish my savings account & other liquid assets because they were below what I want to assure remains in them until I can either buy a house or drop dead - whichever comes first. I sold a considerable amount of things, almost everything at a lost, maybe a few at break even prices and a few at a small net profit. The over all sales wound up costing me a bit more than $200 owed in state sales tax. The little bit of net profit will also cost me in federal income tax when tax time comes around. All in all, I lost money; yet, I recouped some cash that I did not have and that went right into my savings account along with putting back in the $500 I had withdrawn prior to the gun show. I withdrew that in case I would have seen anyone walk in with a gun for sale for that amount of less that I could not resist and I had enough pocket cash prior to that to pay for the tables. All in all, I am a happy camper.The guy who bought an AK (milled receiver) from me (in excellent shape) was happy he got it at an excellent price specially for a gun show where other dealers were asking hundreds more for similar AKs. He came back and I am pretty sure was the same guy who bought the receiver (also at a great pre-China Virus price).
Anyway it all added up to replenish my bank account at least somewhat. If the price of gold and silver stay up there, I'll be set with what I have in the bank account and what I have in precious metals (even if the price falls say by 20% my bullion will hold a good value for me overall). Another show should get me feeling comfortable but only if I do as well. Then again, I am none too sure I have that many more guns I am willing to sell. Most folks would probably want to make a nice net profit at a gun show. I understand that because such shows require a lot of labor, a large amount of time to get ready, more time spent at the tables selling, and time to tear down and head home and then put everything away and do accounting.
Me, I am not very concerned about making a net profit; I am happy to get under but close to what I paid for most things I sell. When it comes to some other things I am okay with a larger amount of loss. Of course if I make a net profit, that is nice but certainly it is not my main objective nor even an important one; I get a decent pension even though 40% goes to my wife. My main concern has been getting money back into the bank to replenish money after I have spent it down too much. I hopefully also will wind up with enough to be able to buy more guns after a gun show and right now I figure I am at that point where I can afford one or two more auctions or a purchase of some more bullion or both.
That all makes me happy and it makes my buyer's happy because they get good deals. They keep coming back, like the gentleman who bought the AK; he has bought from me at a couple of other shows in the past. Never listen to anyone who says you cannot possibly get a good deal at a gun show - they obviously have never been to any of my tables.
