How long to sell a revolver on consignment?

R

Recoil spring

New member
A month ago I put my Ruger GP-100 blued finish on consignment at a new to me gun shop to sell. I recently moved and wanted to try a new place closer to home, in the past I have sold rifles and a semi-auto pistol on consignment at 2 different shops and they always sold after 2 months.

However, this is a revolver in a changing world of people wanting semi-autos these days, and every time I stop by this place I never see any customers there, their selection is small and they seem to emphasis their gun smithing services. Was there today on a Saturday in October, am getting nervous that it might not sell for a long time as this is a busy time in the gun retail season with others.

If I pull the gun from this shop they said they would need to go through the FFL process and charge a $25.00 fee.

How long should I leave it there and should I reduce the price, and if so when, 60 days, or longer? Anyone have a revolver on consignment that took a long time to move?
 
I sell a lot of stuff on consignment, and it usually doesnt sit too long. Rarely over a month. Ive rarely had to lower the price either.

Do you have it priced realistically? What its worth to you, and what its worth to someone else, might be a different thing.

I usually let the shop set the price, or at least, guide me to what they think they can realistically get. They arent going to low ball it, if they think they can get more, as they make a percentage off the sale, so the higher the better.

They normally know what things go for too, and what to realistically expect.

Any of that sounding familar or off?
 
Do remember to thank, with your vote, those people who passed the law requiring you to pay a fee to get your own property back!
:rolleyes:

You might consider listing your gun in other places, while letting the shop hang on to it. If a guy who wants it, at that price walks in, they can sell it, if you find an interested buyer somewhere else, the shop holding it will act as your agent and sell it to them, and the buyer will pay the legally required fees. You're going to need to go through an FFL anyway...

Alternately, find another FFL (with a greater volume of foot traffic in their shop) and have the shop transfer it to them. Background checks & fees don't apply between FFL to FFL transfers, as I understand it.
 
I thought the NICS fee was $10.00.... Has it been that long since I bought a gun that it went up? And to get your own property back? How long has that been in effect? If this isn't infringement on our rights, then what is? Looks like I will never put a gun on consignment again....
 
Im sure the dealer is looking at it as another transfer paperwork and his time dealing with the gun being there and having to show it while it was there.

You dont expect them to do it for free, do you?

Having to go through the 4473 is what it is. Once it goes on their books, youre doing the 4473 and what it entails again, no way aroud that.
 
We are asking $499.00 for it, I think I get around $400.00 as I recall after they get their share. I am fidgety and impatient as I need the money to buy ammo and a compact 9mm pistol and am out of work right now, but thanks for the info. Some of the suggestions are totally new to me. GP-100's are good guns, have had this since 2002 and don't foresee any big game hunts with it, which was my original intent when I bought it.

The shop where it is now is called Upland Outfitters in Leander, TX. I had considered taking it to black Jack gun smiting in NW Austin, but tried a new place. Some of the other gun sellers in Austin are pretty greedy, not much if sold used straight up.

I took the time today to observe and remember the other handguns they have for sale, in a few weeks I will stop by again, if I see no movement of any of their inventory I will have to make other arrangements as this not seeing any customers this time of the year is silly.
 
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FFLs I know, in multiple shops, all say things are VERY slow right now. Consignments aren't moving, Gunbroker ads aren't moving, nothing is moving.
 
I thought the NICS fee was $10.00.... Has it been that long since I bought a gun that it went up? And to get your own property back? How long has that been in effect?
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First off, the fee is what ever the dealer charges, depending on what he thinks the market will bear. However, in some places, the fee for processing a transfer is capped by law (in my state, "no more than $35$) however I'm given to understand in other places it can be as low as $10 or as high as $80 or perhaps more in some eastern states.

How long has it been in effect? since the law requiring a background check on "transfers". Keep in mind there is a difference between ownership and possession. You still own it, but you have transferred possession to the dealer, so then can keep it, and sell it for you. Likewise you may be transferring (in th eyes of the law) your gun to a gunsmith to get it fixed, and then they transfer it back to you when repaired. Background check and associated fees required to get your own property back, because under the law, it is a transfer.

Those in the business, correct me if I'm wrong, but I believe that when the dealer logs the firearm into the "Bound book" it is a transfer. And another when they give it back.

It was a transfer prior to the background check laws, just no one cared, as it was just a matter of the dealer changing their records but no longer...
 
Aguila Blanca said:
FFLs I know, in multiple shops, all say things are VERY slow right now. Consignments aren't moving, Gunbroker ads aren't moving, nothing is moving.
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Gonna say the same thing..anecdotal only but the small LGS I go to here in the 'republic' isn't buying used at all(the have in the past), and seldom consign as their inventory is YUGE..Really depends on demand as they see it(I DID just trade a G43 for a G26)...

For the OP, I'd say swallow the bullet, get the gun back and consign at a place that has better turnover.
 
If you shop around, you can find new blued GP100 base model (4"bbl, adjustable sights) selling in the mid- $500 range. I don't seen anyone selling them for $500--most are priced more like $600.

$500 might be high for a used one (I don't really know the market for used revolvers that well), but it's around $50 less than the best new prices I'm seeing on them.
 
$500 might be high for a used one (I don't really know the market for used revolvers that well), but it's around $50 less than the best new prices I'm seeing on them.
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Yeah, and revolvers (heck most wood and steel firearms) hold their value pretty darn well. There is less of a demand, but the demand that exists usually won't be shocked by a price of $500.00.

OP, I would list on Armslist as well while you have it on consignment. Your price is in the ballpark (if a bit high) if it's in very good shape, and .38/.357 (the most popular and in demand caliber). I suspect your issue is lack of exposure.

Post it for $470.00 on Armslist if it's in great shape, be prepared to take about $430.00. It will likely sell at that price within a month, depending on caliber and condition. If you are worried about private sales, then you can go through an FFL and do a transfer to record it. This will cost a fee. Let your final price reflect that fee. You still should make $400.00 off the deal that way, plus get it sold pretty quick.
 
5Whiskey said:
OP, I would list on Armslist as well while you have it on consignment. Your price is in the ballpark (if a bit high) if it's in very good shape, and .38/.357 (the most popular and in demand caliber). I suspect your issue is lack of exposure.

Post it for $470.00 on Armslist if it's in great shape, be prepared to take about $430.00. It will likely sell at that price within a month, depending on caliber and condition. If you are worried about private sales, then you can go through an FFL and do a transfer to record it. This will cost a fee. Let your final price reflect that fee. You still should make $400.00 off the deal that way, plus get it sold pretty quick.
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Just a caution: Read your consignment agreement before you advertise the gun anywhere else, and especially if you advertise it for a lower price. At least in this corner of the universe, a consignment agreement is a binding contract under which the owner/seller assigns to the FFL an exclusive right to offer the firearm for sale, for a period stipulated in the agreement (most I have done ran for 90 days).
 
I was talking to a salesperson at a LGS who told me that October is without fail their worst month every year. Sales are historically slow no matter the climate.
 
Is this LGS also offering it online anywhere?

I was talking to a salesperson at a LGS who told me that October is without fail their worst month every year. Sales are historically slow no matter the climate.
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next year might be a tad different ;)
 
I don't know if he is offering it online, it did occur to me that that would be a wide opening to a broader market. When I lived in MN the autumn time was the best time for guns sales as gunners were thinking about hunting, and Spring, outside of turkey hunting was the worst. My experience with the gun retailers here when I did consignments in the past is that they asked too much in my opinion, but I still sold the guns after 2 months, surprising, but there are a lot of ignorant people out there. I probably should talk to the owners and see if they do online, and maybe a price drop. It came with a free plastic case and a speed loader to sweeten the pot but none of that was on the price tag.
 
I just sold my used GP100 in stainless for $450 like new.

Took 2 months and started much higher.

Also, Ruger just released the 1771 with a 7 round chamber cylinder.

Temper expectations.
 
Recoil, Over a good many years I've consigned guns I wanted to sell to some LGS. Most sold,... eventually..., at 20% commission, and usually months gathering dust in some gun shop. I'd heard of internet auction sites, but was unsure how or if they worked. Long story short, a few years ago, I got brave and sold a gun on Gunbroker. I've not consigned a gun to a shop since. Reasonable fees, prompt sales ( a week or two ), etc. I set a minimum price, sometimes a buy it now price, and on occasion have been very pleasantly surprised at the bidding and final price.....
 
The last used revolver I bought was at the pawn shop for a year before I bought it. I had them sell a revolver for me and it sold in a couple of weeks. I think it is dependent on the price and condition.
 
AK103K said:
Im sure the dealer is looking at it as another transfer paperwork and his time dealing with the gun being there and having to show it while it was there.

You dont expect them to do it for free, do you?

Having to go through the 4473 is what it is. Once it goes on their books, youre doing the 4473 and what it entails again, no way aroud that.
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That has been one of my main considerations when thinking about putting something on consignment. Doesn't seem right when you own the gun already, but that's the law.

As others have mentioned, I would rely on the gunshop to access sale probability. They know how many people have looked at it generally.
 
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