M40 Remington 700 at auction, whats the deal?

[Pierce]

Just curious why it is bringing such a high price already, what does everyone know that I don't? Was this a unissued m40 from Nam or are these just going for crazy prices in an unissued state?
https://cmpauction.thecmp.org/detail...fle-SN-6257236

[bigwagon]

The description and photos are weak, but if that's a legit USMC M40 sniper rifle, 10 grand is the bargain of the century. But the scope does not look correct for one, so it's hard to tell what that really is based on the info provided.

[mbdolfin]

I'm doing my research too Pierce....
https://m40rifle.com/forum/m40/23713...-serial-number

[Pierce]

Thanks for the info, and didn't know that forum existed mbdolfin thanks for the heads up!

[letterman]

Pierce this is just my opinion about your post as to the high price of the m40. I don’t know what drives the thinking on any auction. My thought is to get it as cheap as possible. When anyone gets into a bidding war with another bidder it is not going to be cheap. I don’t know how CMP auctions work never been there done that. When I am on other auctions I try to wait until the last hour to bid. I know that some will let you put in what you are willing to spend, and then their computer will bid against everyone else. My other thought is when you let emotions come into play “ I really want whatever it is “ then the cost goes up.I feel if you get carried away then you are to blame for the high cost, and you basically bidding against yourself. I use to look at the auction in the first round of the 1911s, and there was a bidder that would bid on every 1911. His first bid was $1050.00 I can only assume that he didn’t want anyone getting anything cheaper at auction than the price CMP set for the drawing!

[Ohio Don]

Originally Posted by letterman

Pierce this is just my opinion about your post as to the high price of the m40. I don’t know what drives the thinking on any auction. My thought is to get it as cheap as possible. When anyone gets into a bidding war with another bidder it is not going to be cheap. I don’t know how CMP auctions work never been there done that. When I am on other auctions I try to wait until the last hour to bid. I know that some will let you put in what you are willing to spend, and then their computer will bid against everyone else. My other thought is when you let emotions come into play “ I really want whatever it is “ then the cost goes up.I feel if you get carried away then you are to blame for the high cost, and you basically bidding against yourself. I use to look at the auction in the first round of the 1911s, and there was a bidder that would bid on every 1911. His first bid was $1050.00 I can only assume that he didn’t want anyone getting anything cheaper at auction than the price CMP set for the drawing!

I bid that way as there was no one going to get one cheaper. The 1911s had a reserve of $1050. Any bid less than that was a null bid. Why bid less than the reserve if you can't win it even if you have the high bid but are under the reserve?