Brother Passed - Approach to dispose of small collection??

AZAmmo

Inactive
Hi All,

My brother passed away. Anyone know the best approach to selling his small collection of just guns, monies go to his wife. His ammo & accessories were sold at her recent garage sale? We’re not looking for a lengthy process to bleed every penny out of each gun, we just want to move on. I don’t think online auction is a good approach for us.

Some older threads suggest contact a local shooting range, so I did. One of the larger ranges here in Phx said "we typically buy at half the book price, bring them down for evaluation”. I have no idea what "book price" is. Also called Cabella's, very friendly guy, said they'd be interested, provide us accurate values & also make a bid. Click image for larger view.

5 HANDGUNS:
1976 Colt Combat Commander .45
1965 Ruger .22 Standard, 6” barrel
1975 Ruger 357 Magnum Stainless Security Six, 4” barrel
(1961-67) Smith Wesson 38 Special, black model 15-2, 4” barrel


(1975-76) Smith & Wesson 44 Magnum, Model 29-2 (Nickel, 6.5” barrel)



3 LONG GUNS:
1998 Ruger .270 M77 Mark II Rifle w/scope
12GA - Remington 870 Express Shotgun
IMC2 Romanian Military .22LR M69 Trainer Rifle w/scope




 
I am sorry for your loss.

Do you have an attorney handling your brother's estate. If you do, have you already asked him about this?

A shop often will give you a low price, and relieve you of any further burden in selling them. Part of that is that estate sellers often aren't motivated to search for a higher price, and part is that a shop owner genuinely isn't sure how long his money will be tied up in an item.

You could probably sell these at a local show and do better than you would at a shop. You would want to research a reasonable price for each, and you may spend a good chunk of the day doing it.

If your brother belonged to a local club, posting a "for sale" notice at the club may work too.

I think you won't have too much trouble finding people interested in these items. I am a 22lr loon, and I can tell you that his Ruger pistol and romanian trainer are neat items that people like me would buy. Revolver guys inhabit their own world, but the .44 is iconic and may draw interest beyond revolver fans. Sometimes estates have lots of firearms that are a step away from junk, but your brother's isn't that.

There also isn't anything wrong with taking bids from multiple shops, just as you've started to do.
 
Define price range and sell locally !!!

We’re not looking for a lengthy process to bleed every penny out of each gun, we just want to move on.
Based on your requirement, Let me suggest the following;

1) Come up with a "range" on value. This forum can help you do this.

2) Sell locally, private and FTF, cash only. Follow your states laws on sales.

3) Find a local Auction house and if you can live with that, so be it.

Be Safe !!!
 
Sorry for your loss .

I have been in the same spot and it is not a good spot to be in .
You have the responsibility of selling and getting a fair price .
Some in the family will be unhappy with your job performance .

Do not get in a hurry take the time to know the value of the firearms first no guess work . A lot of dealers will sell on consignment try looking into that .
It takes the pressure off you and mostly will sell faster .

Tell the owner what is happening (Sister in law )and why .
She may not care to hear about the guns or care but run it all past her .
Make sure she knows about how much money to expect .
When the firearms sell get a check in the owner name not cash .
 
I have had good luck using Auction houses in the area. Most deal with guns and have an FFL. Ask before you use the Auction house. If you try to part them out separately, you always get stuck with a couple that just will not move. At least this way there is paperwork from the sale and no insinuations ever pop up later.
 
Sorry for your loss.
You can buy a book for gun values, or just post them individually here and folks are always helpful.

I can say that Ruger Security Six is a very nice revolver, valued around $400 in good or better condition. That's a keeper, frankly. That Colt 1911 is perhaps a grand, another keeper. And that SW 15 is a $500 revolver, another keeper. That SW 29 appears pristine. Probably $1000 revolver. The .270 is a $400 rifle or maybe a bit more with the scope, depending on the scope. Research the scope as there may be value in it. That 12 gauge is a $300 shotgun. The .22s - I'm not too sure.

If times are not tight for the estate, a couple of these guns should be kept in my opinion. Everyone needs some good home defense. Personally I'd recommend the survivors keep the Ruger .357, the 1911, the 12 gauge, and the .270.

Unsure what state you are in, but figure out the laws for selling. Many states require going through an FFL. Even if they don't and you're not comfortable with selling you can go through an FFL.

You could rent a table at a gun show for a nominal fee. Or you could post on armslist.com and other online sights. Don't bother with auction sites as they are a PITA for such a small collection or one-time thing.

If you can do Face To Face sales legally in your state, I'd just research threads about advice for doing that and proceed once you know the values. Good luck.
 
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I'm going to second the motion for you to consider what you need for your own home defense, including your sister-in-law, and purchase them directly at the value you come up with.

The others, you can list them on this forum in the sales area. Ship to a licensed dealer, and the law is followed. You will receive 100% of the sales price with this method.

Or, you could consign them to either a local gun shop or an auction. You will receive about half or better of the sales price with this method, probably not over 65%.

Realizing the brother's property passes to the wife, who can sell or not in any way she chooses, if you are going to assist her, you kind of have a duty to help her maximize her return.

Wanting to move on and cutting your own throat are two different things. Either approach you take, the collection will be sold and 'moved on', the difference is the return to the widow.

Sorry for your loss, I've been there.
 
I bet you could find a local dealer willing to help you put them online for auction at a place like Gunbroker. You will get more of the money per sale this way, although you will have to pay them for their time most likely and for shipping. If you put them all up for sale on Gunbroker and posted the auction links in this thread, I think you'd find you'd get a fair price from just the members here even if nobody else bid on them.
 
The best bet is consignment through, or sale to a local shop.

To make a little more money, you can set up an account on one of the gun auction sites (I prefer Gun Broker), and list each firearm.


If you absolutely do not care about monetary return, and just want them gone...
Go talk to Cabela's. In my experience, they'll offer 10-20% of actual value (versus 40-70% from smaller shops) and they'll be disrespectful jerks while doing it. But you'll get that 10% on the spot. :rolleyes:
 
If you have time on your hands and there isn't a rush to sell. I would post them here on our for sale section and post on your local Armslist.com(a site that caters to face to face sales). What state are the guns residing in? I would venture that most states allow face to fave sales without going through a dealer, and you can always ship to buyers anywhere in the country, just ship through your local gun store. There are some desirable firearms in that collection and a gun/pawn shop is really going to cut you out of some serious coin. I have always been able to sell my guns very quickly, under a week, on Armslist.com as long as I was selling at a good price.
 
Thank you all for the very kind words & insight. Remarkable!

A couple points to make:
The guns are in Phoenix AZ.
There's no estate "clearance" to deal with, his wife is still alive.
We don't need to keep any of these for personal protection, that's covered already.
I can't post in TFL 4 sale section, I don't meet forum requirements...at least 25 previous posts, etc..

leadcounsel: thanks for the valuable pricing insight.

Pahoo: Thanks, to funny, I already started a "price range" for each gun. When looking at auction listings I see wild variations, like $750 to $1,300 for guns appearing to be virtually identical. So what gives?

FrankenMause, "Cabela's, they'll offer 10-20% of actual value..". Holy cow, that's a complete waste of time, if not insulting.

zukiphile: A gun show is intriguing, but I currently struggle on determining a fair price. My current source of price info has been online auctions. Something between a gun shop (wholesale) and the retail price to me, would seem fair. The cell phone taken images really don't do them justice.

About online auctions....I've looked at several over the last few weeks and it appears an overwhelming amount of guns never even receive one bid. Seems most people only bid on low risk guns, those that are dirt cheap for that model....but I could be wrong.
 
If you went to Cabela's and got their price, then listed the guns here for 25% more than Cabela's offered I am willing to bet members of this forum would buy them all within a few days. I don't think Cabela's bids are actually that low of a percentage, but they aren't high. Some local shops will offer more and some will not. Many are sitting on an unsellable inventory of AR-15s right now and probably don't have a lot of cash to buy used guns that may not sell fast. I have never been offered 70% by any of the local shops.

I'm going to second the motion for you to consider what you need for your own home defense, including your sister-in-law, and purchase them directly at the value you come up with.
Is the person suggesting this experienced in liquidating estates? I have seen executors and trustees buy things out of estates and trusts three times. All three times beneficiaries were upset and thought the price was unfair. Twice it seriously affected relationships both parties previously viewed as more valuable than the item.
I am no expert, but I have been appointed executor/trustee myself, and I would absolutely avoid buy something out of an estate/trust I was liquidating unless at public auction. Your sister-in-law is probably quite upset right now and may agree to anything in order to try to "get past it." In a year or two when someone asks her about the gun and offers a lot more than you paid for it or says it was worth a lot more, even if it wasn't, she may feel differently.
Depending on the size of the estate the executor may be entitled to compensation. A small percentage, but not insignificant. If the compensation turns out to be a couple thousand dollars or something and you aren't interested in taking the cash, but there is a firearm you feel sentimental about, your sister-in-law may not mind you having one instead of the larger value cash compensation. That assumes you are executor and not just helping the executor with some footwork.
 
AZ, I'm sorry for your loss. FWIW, about 4 years ago IIRC, I assisted the family of an acquaintance liquidate his accumulation of guns, accessories, surplus ammo, etc. It was finally decided to sell all to J&G sales in Prescott. J&G advised up front that they would offer 50% of retail value for everything. As their were about 60 firearms involved, the manager and an employee traveled to our town to evaluate the items. Their estimate of retail value was not significantly different than mine. The family was quite pleased to dispose of everything at one time. The elderly wife, and a daughter who lives in another country with quite strict firearms laws, were not familiar with our firearms regulations here and were relieved to sell the items to an FFL. They were also pleased that the manager from J&G wrote them a rather large check on the spot for the sale. I have to say that there were no surprises, and the guys from J&G were quite professional during the whole transaction. And no. I have no relationship with J&G sales whatsoever.
 
As I saod auctions are mostly a waste of time. Will be s lot of effort for so few guns. Auction prices are wishful. You might find the actual sold...

Or spend $15 on a gun value book.
 
I've done this a few times for friend's families.

I forward the family recent completed GB auctions with actual sales of similar condition items. I tell them they'll have to accept average price or less to move them. If they agree I take them to the next local show. I also have them give me their absolute bottom dollar.

I start the first day of the show at the average price. If they don't sell by noon I start marking them down. If they don't sell the first day I start them the second day at bottom dollar. I've been able to sell almost everything within two shows so far.
 
I have sold several guns on consignment basis with a local gun shop and had good experiences. I set the price of what I want to get out of the gun and they then tack on what they feel they can make as their percentage. This is a high volume dealer in a good market so it works well here.

I use this method as compared to ftf to avoid the issues of meeting unknown persons wanting a gun. Also, the dealer does the 4473 and I am out of the loop if anything goes wrong after the sale.

Others experience may vary but this method works for me.
 
Call the bigger gun shops in your area, explain your situation and ask to have the weapons appraised. Get multiple appraisals, take notes and follow up on any big differences in value. After you know what they are worth you can adjust your pricing around how quickly you want to move them.

Keep in mind, any store willing to purchase them is doing so because thats their business, they NEED to turn a profit and in most cases they offer 50% of true value. Selling as a bunch may encourage the shop to pay a little more. On the other hand, if you walk through the shop and notice 2, 3, 5 of the same guns sitting on their shelves (not selling) they may offer less.

Cabelas offer of 10%-20% seems very good and fair to me. They have 100's of stores all over the Country plus a big online profile which allows them to sell at a much higher volume than your LGS who only sells to the locals and may sit on inventory for months or years.
 
Don't be in a hurry

AZammo--I would suggest that if the wife just wants them 'out of the house' for whatever reason, that you take possession, You need to have them anyway to show to whomever, and relieve her of thinking about them until sold.

I don't know what your firearms experience is so bear with me. Make sure that they are UNLOADED! Check magazines too. Your brother may have kept one loaded. You already knew that, but I feel better having said it.

You need good digital pictures of them regardless. Look at pictures on this site for tips. Closeups of both sides of each, and tops and bottoms. Clean or wipe them down first if needed. Use a real camera with no flash and adjust your lighting angle for no glare from reflection. Borrow or have a friend help if needed. Darker background cloth may help, set the camera to macro (closeup).

Look down the bore after cleaning for any pits. There probably aren't any, but you need to know so you can state it. Look for scratches and marks so you know. Make a note of things you find for each gun.

Get a three-ring notebook and put color prints of the guns in it to show. It's lots easier than dragging them all around, and you will have the digital photos for online. If someone shows real interest for your price, then take the gun.

I think that the 25 post limit is not really a problem. Just start a new thread with each question that you have about the guns, instead of all questions in one posting. You will meet the requirement soon, and then have the option to use the sale area of the forum.
 
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No one has mentioned it yet, so just to make sure that you know, selling a handgun to someone from another state without going through a federally licensed firearm dealer (FFL) is a violation of federal law. Penalties are significant.
 
Get an appraisal and mentally set what you can live with.

There are times when I give appraisals, for friends and some local auction houses. On private sales, I ask if they intend to keep the firearm or move it. There are very few guns that I buy and the ones that I do, I try to flip and rarely keep any for my collection. Many of our forum members would be more than happy to provide assist on coming up with prices. Again, I'm talking selling locally. .... ;)

Example:
I usually provide a range and on that Remington Express, I'd price that in the middle for $300.00, $275.00 would be a steel and I'd be very happy at $350.00. There is a lot that I'm not seeing but this would be my SWAG.
This is one of the older Expresses and they are more desirable than the new ones. ..... :)

Another point to determine, is bundling. If you do, set your individual price high.

You are a good brother and;
Be Safe !!!
 
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