Well, I don't think its quite that bleak.  I'm sure the 20% lowered prices since we all have a total amount we are willing to pay.  All markets run from peaks to lows and rebound for one reason or another.   I'd rather think we are trying to find the bottom from which we should rebound.  I view it as more of an opportunity.
Phil

When Michael Petrov would share original pictures of A.O. Niedner at shoots in his later years, the thing that struck me was that there were just a small handful present. He might have thought it was the death of the single shot. I'd guess that there are some folks now in their twenties and thirties that stumble on an interesting single shot and it gets pushed to the back of the safe for various reason. Fifty years from now they might show it on a forum and tell the story of getting it for a song and used to shoot real lead out of it.

Whenever an auction features large quantities of a particular style rifle, it usually results in lower than normal prices on a number of the guns at auction. It basically floods the market for that type of gun as bidders will set aside a certain amount to spend, and not bid high on every gun offered.
It's simply a case of funds available for most people, so limited funds means limited bid prices. Some real bargains can be had at these types of auctions featuring large numbers of single shot rifles.

  prices there are shown as hammer plus buyers.  Compared to 10 years ago screaming deals  but who knows where the bottom is

The auction was poorly done. Descriptions of the rifles were often inaccurate and the advertising was woefully inadequate. Having said all that quite a few collectors consider a rifle (even a Pope) that isn’t exactly like the catalog to be a bitched up rifle. All in all this was an object lesson in how not to auction off rare single shot rifles.

40 Rod