Two major San Francisco auction houses are holding their breath awaiting a judge’s decision as to whether a new anti-gun law will let them continue selling antique and sporting firearms in the city.

In municipal elections on November 8, 2005, 58% of San Francisco voters approved Proposition H, a ban of the sale and possession of firearms and ammunition within city and county limits. Unlike the federal government rules, which defines any firearm made before 1899 as an antique and thus immune to regulations and restrictions, the San Francisco law covers all guns, regardless of age or condition.

This is a potential financial blow to two of the nation’s leading arms and armor auction houses, Bonhams & Butterfields and Greg Martin Auctions. Each operates in the city. The new law will not necessarily halt arms auctions by these companies, only make it less convenient and more costly to have them.

“We are a Bay Area company, and we will be holding auctions in this area,” said Chris Gallo, a spokesman for Greg Martin Auctions, which sold $11.5 million in
antique arms in 2005. “I couldn’t speak to specifics at this time, but if the ban goes through, our operations will move outside city limits.”

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Posted: 03|10|06 at 10:08 am. Filed under: US News.