November 2018 – Online Gun Auction #2020
The online Gun Auctions not only contain firearms, they also have related items that do not make our regular auctions. These items usually include; books, holsters, magazines, bayonets, gun parts, scopes and much more. Over 800 lots to be auctioned off in our November 1st, 2018 Online Only Gun Auction.
Lot 13: Colt Python Revolver 357 magnum
Lot 79: Large Assortment of 1911 Grips
Lot 252: Group of Assorted Edged Weapons
Online Catalog!
What is the buyer’s premium (B.P.)?
Almost every firearms auction has a buyer’s premium that is charged to winning bidders. A Buyer’s Premium is the amount added to the winning bid amount (hammer price). The B.P. is used by the Auction Company promote the auction and to help defray the auction expense costs. The B.P. at RIAC is 18.5%. It is reduced to 15% if you pay by cash, check or wire transfer. For example, if the Winning Bid Amount is $1,000 and you pay by check, the Buyer’s Premium would be $150 (15% of $1,000). The Total Purchase Price is then calculated as the Winning Bid Amount + the Buyer’s Premium, or $1,000 + $150 = Total Purchase Price of $1,150, plus any shipping or taxes.
