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Discussion Starter · #1 ·
http://www.northwestgeorgianews.com...cle_2cb1cd5a-bfd3-11e7-b11e-cfbfe7e53820.html

The Floyd County Board of Education unanimously approved a settlement with Johnson Controls Inc. on Thursday which will pay the system $2.3 million and provide services and equipment for two years after coming out of a closed session.

“This agreement is a major step towards closing a difficult chapter for the school district,†said Superintendent John Jackson in a news release. “The school district appreciates Johnson Controls’ assistance and cooperation throughout this matter.â€

The board also decided on having an absolute auction â€" which means all items will sell with no set reserve price â€" for the seized and forfeited items from the RICO case involving the system’s former maintenance director Derry Richardson.
The case involved an alleged scheme carried out by Richardson and at least 12 others resulting in the loss of $6.3 million.

Richardson had worked for Johnson Controls before taking the position with Floyd County Schools; however, the company is not a party in the RICO lawsuit.

The state attempted to add Johnson Controls as a party to an ongoing civil RICO case against several defendants, including Richardson. Floyd County Superior Court Judge Tami Colston denied that request stating a court-imposed deadline to add parties had already passed.
A two-story home at 241 Riverbluff Drive in Summerville that Richardson police say built with illicit funds is the big-ticket item for the auction. Other items include over 50 guns, vehicles, Bobcats, tractors and utility vehicles.

“This is the Super Bowl of auctions for us,†Dempsey said, adding that over 1,000 people are expected. “I feel like everything will sell.â€

The list of items is still being finalized and is expected to be completed by Nov. 13. The auction will be held at the Coosa Valley Fairgrounds at 1400 Martin Luther King Blvd. on Nov. 18, starting at 11 a.m. From Nov. 15-17, from 9 a.m. to 5 p.m., items will available for people to look over. Guns being auctioned off will only be at the fairgrounds for inspection on Nov. 17, from 9 a.m. to 5 p.m.
Auction info: http://www.dempseyauction.com/november-18-2017

Guns Being offered: https://static1.squarespace.com/sta...a8b2b05dc4d4f47a/1508374692263/Guns+11/18.pdf
 

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Man of Myth and Legend
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Dayum, there is a Barrett 50 cal in the auction.

Nemo
 

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Discussion Starter · #3 ·

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QUOTE from the link on auction info in post #1:

All firearms will be transferred and picked up at Country Sportsman, 2806 Shorter Ave, Rome, GA 30161. All gun sales are subject to background check and ATF approval.

Okay, so that's how it's going to be legal under Georgia law. I remember reading that State law says that auctions of seized firearms must be limited to FFL dealers. Maybe if the winning "bidder" is an individual, but with a pre-existing understanding that the transfer will go "through" an FFL dealer as a middleman, that's close enough. Anyhow, I don't object. Seems like a reasonable gun-control measure to me.

Also, it prevents the ATF from saying that Floyd County, or any other county or city that collects and dispositions guns regularly as part of their normal criminal justice operations, is "engaging in the business" of dealing in firearms and must itself hold an FFL from the feds.
 

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http://www.northwestgeorgianews.com...cle_174e3664-cb23-11e7-8060-1bff827d9fcc.html

There are four items at the auction classified as Class 3 firearms or devices, which are regulated under the National Firearms Act due to their military-grade likeness. A special license, which few have, is required to handle or transfer the items, Bojo said. It's a felony to even hand a Class 3 firearm to someone to hold or use, say on a gun range, if that person isn't properly licensed.
Purchasers must go to Country Sportsman at 2806 Shorter Ave. by Monday at the earliest to show proof of purchase and their license for pickup.

The Class 3 items will be sold in an online-only auction Dec. 9, and a dealer out of Taylorsville is handling them. In light of the recent mass shootings, Bojo said he didn't feel comfortable having these items at the live auction.

In reaching out to the ATF, Bojo wanted their officials to first off know he had the items, and he solicited them to monitor the process of preparing them for auction and confirm all their boxes were checked. It's a "document-intensive" process, he added.
 

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I'll be attending but doubt I'll be buying. As well advertised as the auction is I suspect many/most items will go for full retail, maybe more.
 

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Nearly all of the bids on firearms were at or above retail price. Once the auction fee is accounted for most of them went for more than they would cost new.
 

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Nearly all of the bids on firearms were at or above retail price. Once the auction fee is accounted for most of them went for more than they would cost new.
We stayed through the first three guns and then left. I knew it was going to be a bad day as soon as the Kubota and Bobcat T770 sold.

The T770 brought ~$59k...I bought one last summer for $60k OTD. Why do people get to auctions and go stupid?

It will be interesting to see how much money was recouped.

The house was a good but from what I hear
 

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Auctions are a strange thing indeed. I learned that long ago, well before Ebay was a thing.

Want to sell something that is is worth $300? Starting bid at $200. No one goes for it.

Nod to the auctioneer that they can start it at $100, and the bidding starts going like crazy and suddenly the thing sells for $350.

If your willing to pay $350, why not bid on it at $200? I have no idea, but it is a thing and is why Ebay and auctions still exist to this date.
 

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It would be. $490k for a ~$680k home would need to be stripped out and I bet the remaining items exceed accrual retail prices
 

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It would be. $490k for a ~$680k home would need to be stripped out and I bet the remaining items exceed accrual retail prices
Just curious how much over retail these people were paying. My very limited exposure to auctions says people pay way too much.
 

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Just curious how much over retail these people were paying. My very limited exposure to auctions says people pay way too much.
I stayed for the whole auction and have notes on the bids for a lot of items. For the items that I know the cost of new, it varied from just at retail price to double the retail price. And that is just the bid - the auction gets a 10% fee on everything and then sales tax on top of that.
 

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Just curious how much over retail these people were paying. My very limited exposure to auctions says people pay way too much.
I would agree with what TheEngineer stated above.

I stayed for the first three firearms, the first, a Ruger 22/45 went for $370 plus 10% buyers premium, $30 transfer fee plus 7% sales tax, so $462.90.

Bass Pro has the pistol for $339.99

A ~$900 (Cheaper than Dirt) Colt Government brought $1200+ fees and taxes.
 

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The best deals at auctions come near the middle (lunch or food break) and near the end. It's not unusual for items to sell high at the opening. People are fresh and flush with funds at the start. Still have funds left but getting tired and hungry near lunch time in the middle of the auction. Most serious and early buyers are getting low on funds, fatigued and are more conservative near the end. I'm not saying to not go early because the great deal can happen at any point. Just make sure to get plenty of rest the day before and watch for the deal instead of trying to make it happen. Stand back and watch the bidding and if it looks like it is going to sell at a good price wait until just before the sold call to jump into bid frenzy. By doing this you save your energy and weed out most of the others bidders. Usually only one will be left and taken by surprise when their win has been taken just under the wire. Hesitation on their part works in your favor.
 
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