The biggest problem I see is that most people want to unload guns to dealers that no one has much interest in. Old rusted bolt action Springfield .22's, Bubbed and sporterized rifles, old beat up Taurus 357 revolvers, used Lorcins, etc. In fact, I wonder how many pounds (perhaps tons) of super-slow-selling guns a dealer would have to turn away per each Sig/HK quality firearm? How many times does a dealer encounter someone with a Sig X-Five, Sphinx AT2000, HK P7, or even a Stainless CZ75 wanting to sell? I bet those guns don't walk out of the shop with an offer of less than 80% of market.
Resale value of your firearm?
- Thread starter YahMan
- Start date
Unless you do a lot of business with them, and are buying something from them to boot, they pretty much all low ball you. Even when they dont, I cant really ever remember being offered much more than 60%, and they acted like they were doing you a really big favor.
I sold all my SIG's and HK's on consignment. Most of dealers at the time, only offered half or less of what I paid for the SIG's, and in the case of the HK's, basically what I paid for them new back in the 80's and 90's. That was around $350-400 for the SIG's, $475 for a P7M13, and $600 for the HK91's.
I put all of them up on consignment, and got close to what I paid for most of the SIG's, in the low $700's. The HK's, I got $975 for the P7, and a little over $2000 each for the 91's. I made almost another $2000 just on the 91's accessories, which they insisted they wanted included with the guns for the price they were offering!
In all the years Ive been doing this, I can really only think of one dealer who I felt was reasonable and actually worked with me. He was very straight forward on what he could "really" offer, and more often than not, pushed consignment. A couple of times, he even called other customers over to look at what I had, because he knew they were into the same thing, and let us work it out between us. He was no dummy, he knew where I was going to spend the money, and I spent a lot there over the years before moving away. I still make the trip back there when I do sell stuff, because I get a lot more there than I do here.
The big difference there vs here when it comes to what you get is, that area is pretty well off, and most of the guns you see in the shops are in good shape and more varied. Here, they are mostly hunting type rifles and cheaper pistols/revolvers, and many, and in some cases, most, have not been cared for and look it.
I tried selling a couple of my SIG's outright at work here, and those boys looked at me like I was crazy asking $500! Here I thought I was biting the bullet.
The only plus side here, is when you shop around, as you can come across some nice guns for a decent price. I have made out quite well in the past year on three S&W's, that would have brought half again as much or more down in a shop where I used to live.
I even got a Glock 31 at a local Gander Mountain here a few years back, for $350, and it was basically NIB. They couldnt sell it because it was a oddball/unknown caliber, and no one here wanted it. The clerk even got cocky "after" I bought it, and said good luck finding ammo for it. I just smiled at him, and told him this was my 6th 357SIG, and I had cases of factory and a boatload of reloads at home to feed it. The look on his face when I thanked him for selling the 31 so cheap, and that I basically stole it, was priceless.
I sold all my SIG's and HK's on consignment. Most of dealers at the time, only offered half or less of what I paid for the SIG's, and in the case of the HK's, basically what I paid for them new back in the 80's and 90's. That was around $350-400 for the SIG's, $475 for a P7M13, and $600 for the HK91's.
I put all of them up on consignment, and got close to what I paid for most of the SIG's, in the low $700's. The HK's, I got $975 for the P7, and a little over $2000 each for the 91's. I made almost another $2000 just on the 91's accessories, which they insisted they wanted included with the guns for the price they were offering!
In all the years Ive been doing this, I can really only think of one dealer who I felt was reasonable and actually worked with me. He was very straight forward on what he could "really" offer, and more often than not, pushed consignment. A couple of times, he even called other customers over to look at what I had, because he knew they were into the same thing, and let us work it out between us. He was no dummy, he knew where I was going to spend the money, and I spent a lot there over the years before moving away. I still make the trip back there when I do sell stuff, because I get a lot more there than I do here.
The big difference there vs here when it comes to what you get is, that area is pretty well off, and most of the guns you see in the shops are in good shape and more varied. Here, they are mostly hunting type rifles and cheaper pistols/revolvers, and many, and in some cases, most, have not been cared for and look it.
I tried selling a couple of my SIG's outright at work here, and those boys looked at me like I was crazy asking $500! Here I thought I was biting the bullet.
The only plus side here, is when you shop around, as you can come across some nice guns for a decent price. I have made out quite well in the past year on three S&W's, that would have brought half again as much or more down in a shop where I used to live.
I even got a Glock 31 at a local Gander Mountain here a few years back, for $350, and it was basically NIB. They couldnt sell it because it was a oddball/unknown caliber, and no one here wanted it. The clerk even got cocky "after" I bought it, and said good luck finding ammo for it. I just smiled at him, and told him this was my 6th 357SIG, and I had cases of factory and a boatload of reloads at home to feed it. The look on his face when I thanked him for selling the 31 so cheap, and that I basically stole it, was priceless.
Most of the shops I go to keep a list of "customer wants" for their regulars.
A lot of those types of trades you mention never see the shelf of the shop, they are sold before the guy in the gun shop even buys them.
That's usually reflected by the price you get paid.
I found that out when I traded in the S&W M617 I had and hated.
I was amazed at how much I was given on a trade in and when the guy behind the counter stuck the box on the "call" shelf behind the counter, I asked him what was up with that?
He told me that they, and most other stores in the area, have a list of customers that tell them what to keep an eye out for if it comes in on trade.
He told me he had a buyer for my 617 & the gun would be gone by the end of the day.
FrankenMauser
New member
That jarred my memory, and reminded me that I actually got a really good price for my Buckmark Rifle (sporter), when I sold it.
They were still relatively new, but had been on the market long enough for the first production run to be almost completely sold out. And mine had been the first Buckmark Rifle of any type, that my local dealer had seen (they had just hit the market when I bought it). It never even made it to the rack, before it was headed out the door with me. So, there wasn't much chance for me to haggle with them on purchase price.
I paid $430 for it (still have the receipt), shot it for 6-8 months, and decided to let it go. It still looked brand new.
The "Gun & Pawn" place that bought it gave me $375, since they were selling well, but the shop only had the bull barrel version in stock. An 87% return wasn't bad at all, but...
I got even more out of it by turning the cash into a case of 'BallistiClean' 9mm and a Ruger P95 ($220 + the shop offering $40 off + Ruger offering $40 rebate = $140 brand new 9mm
).There are several factors at play which will often prevent someone from getting full value for a gun when selling it to a retailer.
First, and most obvious, is that the retailer is in business to make money. Since they will most likely be able to re-sell the gun for no more than current market price, they must buy it for less than that price in order to turn a profit.
Secondly, the Blue Book, which is what most retailers use as a guide, is typically, in my experience, at least a couple years behind the current market. This is because the research necessary to publish the book takes a good deal of time to compile and several factors such as new gun control legislation (or the threat thereof), a particular gun being featured in a popular film, TV show, or other form of media, or the discontinuation of a particular model can have rapid and profound effect on a given gun's value. Also, while the research for the Blue Book is being compiled, inflation marches on and the value of the dollar continues to decline thus making a given gun more expensive than it was when the research began.
Third, in addition to the need to turn a profit, the retailer is taking on a certain degree of risk when buying a particular gun that they need to mitigate as much as possible. For example, if a retailer buys a used gun only to later find out that it's damaged beyond repair, has been modified in a way that negatively affects its value (such as a non-factory refinish), or has been used in an illegal activity (such as having its serial number altered), the retailer is likely to lose most or all of what was invested in the gun. In order to mitigate this, they have to make a large enough profit on the other guns they sell to offset the ones that they wind up taking a loss on.
Finally, each retailer's clientele is different and a gun is only valuable to a retailer if he/she can find a purchaser interested in it. For example, a First Generation Colt SAA may very well be worth several thousand dollars to a collector, but a retailer whose clientele is primarily interested in Glocks and AR-15's would likely have a difficult time finding the buyer who is willing to pay thousands for a Colt SAA. Likewise, a retailer would likely be hesitant to pay much for an expensive collectible gun if his/her typical clientele cannot afford an expensive gun. A shop is likely to sit on an $800 gun for quite a long while if the normal clientele is looking for $200-300 guns.
What it really boils down to is that, if one really wants to get the most out of a used gun, then he/she needs to be patient and educated in regards to what the gun is worth. It is not the retailer's fault if the seller of a used gun hasn't bothered to educate himself/herself as to what the gun is actually worth or is so impatient and/or desperate for money that they're willing to accept what they know is a low-ball offer. I've received low-ball offers for guns I was looking to sell before too, but rather than getting upset and accusing the retailer of dishonest business practices, I simply said thanks but no thanks and took my guns to other establishments that were willing to pay me more. Another thing that I've learned is that the best places to buy guns and the best places to sell guns are seldom one in the same. Shops with low prices typically pay less for used guns while shops with higher prices typically pay more for used guns. This is, of course, mainly applicable to small, mom and pop shops, big box stores usually don't pay much for used guns regardless of whether their prices are low or high.
First, and most obvious, is that the retailer is in business to make money. Since they will most likely be able to re-sell the gun for no more than current market price, they must buy it for less than that price in order to turn a profit.
Secondly, the Blue Book, which is what most retailers use as a guide, is typically, in my experience, at least a couple years behind the current market. This is because the research necessary to publish the book takes a good deal of time to compile and several factors such as new gun control legislation (or the threat thereof), a particular gun being featured in a popular film, TV show, or other form of media, or the discontinuation of a particular model can have rapid and profound effect on a given gun's value. Also, while the research for the Blue Book is being compiled, inflation marches on and the value of the dollar continues to decline thus making a given gun more expensive than it was when the research began.
Third, in addition to the need to turn a profit, the retailer is taking on a certain degree of risk when buying a particular gun that they need to mitigate as much as possible. For example, if a retailer buys a used gun only to later find out that it's damaged beyond repair, has been modified in a way that negatively affects its value (such as a non-factory refinish), or has been used in an illegal activity (such as having its serial number altered), the retailer is likely to lose most or all of what was invested in the gun. In order to mitigate this, they have to make a large enough profit on the other guns they sell to offset the ones that they wind up taking a loss on.
Finally, each retailer's clientele is different and a gun is only valuable to a retailer if he/she can find a purchaser interested in it. For example, a First Generation Colt SAA may very well be worth several thousand dollars to a collector, but a retailer whose clientele is primarily interested in Glocks and AR-15's would likely have a difficult time finding the buyer who is willing to pay thousands for a Colt SAA. Likewise, a retailer would likely be hesitant to pay much for an expensive collectible gun if his/her typical clientele cannot afford an expensive gun. A shop is likely to sit on an $800 gun for quite a long while if the normal clientele is looking for $200-300 guns.
What it really boils down to is that, if one really wants to get the most out of a used gun, then he/she needs to be patient and educated in regards to what the gun is worth. It is not the retailer's fault if the seller of a used gun hasn't bothered to educate himself/herself as to what the gun is actually worth or is so impatient and/or desperate for money that they're willing to accept what they know is a low-ball offer. I've received low-ball offers for guns I was looking to sell before too, but rather than getting upset and accusing the retailer of dishonest business practices, I simply said thanks but no thanks and took my guns to other establishments that were willing to pay me more. Another thing that I've learned is that the best places to buy guns and the best places to sell guns are seldom one in the same. Shops with low prices typically pay less for used guns while shops with higher prices typically pay more for used guns. This is, of course, mainly applicable to small, mom and pop shops, big box stores usually don't pay much for used guns regardless of whether their prices are low or high.
I have to wonder that IF a gun dealer has a steady flow of sellers of good quality used firearms coming through his doors, it seems to me that the the following formula could yield a steady flow of decent profits:
Advertise: 80% of gunbroker strike price paid for all quality used firearms in 95% condition or better
And then sell the gun for what it sells for on gunbroker + $25 (shipping cost) + sales tax (offset mostly by transfer fee which doesn't have to be paid)
So, on a gun that typically sells for $500, the dealer would pay $400 and sell it for $525. That's still over 30% to the dealer. The guy selling decent guns is happy; the Dealer should get a quick sale. But, best of all, the dealer gets the reputation of treating seller's fairly and having good used guns at basically Gunbroker prices. It just seems to me that a formula close to this one would work well and, but I hardly ever see this done by any LGS.
Advertise: 80% of gunbroker strike price paid for all quality used firearms in 95% condition or better
And then sell the gun for what it sells for on gunbroker + $25 (shipping cost) + sales tax (offset mostly by transfer fee which doesn't have to be paid)
So, on a gun that typically sells for $500, the dealer would pay $400 and sell it for $525. That's still over 30% to the dealer. The guy selling decent guns is happy; the Dealer should get a quick sale. But, best of all, the dealer gets the reputation of treating seller's fairly and having good used guns at basically Gunbroker prices. It just seems to me that a formula close to this one would work well and, but I hardly ever see this done by any LGS.
Facebook sales
I am a member of 3 local Facebook groups that are for private sales of firearms here in central Texas. I have bought several so far but never sold any. I always do this face to face with a bill of sale. People seem to ask new gun prices to start but quickly come down if no one offers. Still harder now to find a really good deal because of the number of people looking and offering. I agree it is a used gun seller's best tool right now. Massive exposure especially for high end or specialty firearms with a very limited market.
I am a member of 3 local Facebook groups that are for private sales of firearms here in central Texas. I have bought several so far but never sold any. I always do this face to face with a bill of sale. People seem to ask new gun prices to start but quickly come down if no one offers. Still harder now to find a really good deal because of the number of people looking and offering. I agree it is a used gun seller's best tool right now. Massive exposure especially for high end or specialty firearms with a very limited market.
why is I the person selling the gunstore my used firearm, expected, supposed to, or obligated to take a lower price then what its worth, simply because it might sit in a guncase for a month before it sells?
there a business, if they pay their distributor 100 dollars for a brand new 870 with 18 inch barrel smooth bore, and i have the ultra deluxe 870 with 23 inch barrel, with 3 choke tubes, why should i only be willing to take 100 dollars for it?
there a business, if they pay their distributor 100 dollars for a brand new 870 with 18 inch barrel smooth bore, and i have the ultra deluxe 870 with 23 inch barrel, with 3 choke tubes, why should i only be willing to take 100 dollars for it?