The Business of Transition: How LSB is Redefining the Gun Auction
Across the country, many Americans find themselves in possession of firearms, military memorabilia, or antique collections that they seek to liquidate. Whether disposing of a prized collection or inherited items with little personal interest, gun owners often face a daunting landscape when verifying, appraising, and securing a fair market sale. Spencer Hoglund, CEO and founder of Lock Stock and Barrel Auctions (LSB), established his firm in Cody to solve exactly these challenges for clients nationwide.
The mission of LSB first took root on the West Coast in the early 2000s, sparked by a personal experience. A close friend of Hoglund’s had unknowingly placed trust in an opportunistic dealer, ultimately receiving only a fraction of his collection’s actual value. Recognizing the need for a trustworthy outlet capable of achieving nationwide results without sacrificing boutique customer service, Hoglund launched his own auction house.
“We want our sellers to get as much money as possible for their guns,” Hoglund explained. “They sought them out. They collected them. Oftentimes, these are pieces brought back by family members from military service, used on safari, or held for great sentimental value. The family should be the one to benefit from that legacy.”
This commitment to transparency helped LSB grow into one of the largest firearms auction houses in the nation. However, as the regulatory environment in its founding state became increasingly restrictive for businesses like LSB, Hoglund began searching for a community and a team that could better sustain the company’s momentum.
The search ended in Cody, Wyoming. In November 2020, Hoglund reached out to Brian Hoover-a lifelong friend who would eventually become Junior Partner and COO to begin the process of relocating the entire operation to the heart of the Mountain West.
“Brian and I went to high school together, and I knew he had moved to Cody,” Hoglund recalled. “I called him the morning after the 2020 election and asked him to help us find a location and get the ball rolling. Within a month we were in motion, and by New Year’s, we had a foothold in the state. Today, our entire operation is based in Cody, where we are proud to employ over 40 full-time staff members.”
Hoglund noted that the transition has been seamless. “It’s been a great relationship between my family, our business, and the culture of Wyoming,” he added.
Throughout the year, LSB hosts a series of live, in-person auctions alongside its year-round online sales, selling tens of thousands of pieces annually. This volume creates an astounding variety of offerings, further cementing Cody’s reputation as a premier destination for high-end collectibles and collectors.
“It’s hard to capture in one sentence what we sell, but our goal is to handle firearms and anything that would look at home in a curated gun room or a ‘man cave,’” Hoglund said.
When discussing standout items from past sales, Hoglund and Hoover describe a museum-quality catalog: from rare 1 of 1,000 Winchesters to signed first editions of Theodore Roosevelt’s books and even John Wayne’s cowboy hat. While there is no single favorite, the team’s enthusiasm for every historical artifact they handle is evident.
LSB Auctions is in the “business of transition,” handling all firearms “from match lock to full auto and everything that goes with them”. They provide a respectful avenue for liquidation, matching enthusiastic collectors with everyday owners and grieving families who want to honor a loved one’s memory through a fair and secure sale.
The community is invited to experience this excitement firsthand at LSB’s next Live Auction, scheduled for October 23-25 at The Cody Auditorium. With 1,500 items set to cross the block over three days, the event offers a festive atmosphere with complimentary food and drink. Whether you are a serious collector or a curious newcomer, the auction provides a unique look into the world of historical preservation and trade.
To learn more about Lock Stock and Barrel Auctions and their services, visit LSBauctions.com or call (307) 527-8915.
Ava Junker
Cody Journal Journalist
Ava Junker is a student at the University of Wyoming pursuing a bachelor’s degree in English and Journalism. Growing up and moving around as a military brat, her family finally settled in Cody, Wyoming where she graduated from Cody High School. Since then, she has worked as the Digital Editor-in-chief for the university’s paper, “The Branding Iron,” and is now a journalist for our journal.
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