So this friend owes me $500

$500 for a pristine m15 would be a decent offer to me, and I wouldn't feel insulted at all if I loaned money to a friend and they offered. Hey, the guy is giving you options, and I like options.

Last week I had the same thing come up. A friend who owed me money had just had a baby and asked me very earnestly if I would be interested in taking his norinco sks for $250 off debt. I now have an sks and still consider him a good friend as he paid the rest off in cash that day.

He was just looking for an option that would be workable for everyone, and I'd imagine a man with a week old baby looks at cash in a different light
 
When he offered the gun I just thought that I could easily sell it and get my money faster that way.
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Just how good of friends are you guys? Sounds like at least one of you aren't so much so.
 
Take the gun whether it's worth it or not
and keep the friend. Just kindly
say something like "i saw one like that for $350
at joes but that's good enuff for a friend.
Friends are priceless, guns are everywhere.
 
If I didn't need the cash , and if I could afford to loan to to someone, I probably don't, I'd wouldn't mind a nice Model 15.

Is it worth $500.00? Probably not, but you're not paying too much, you're just buying it too soon.
 
500.00 put back in your savings account @ a couple points interest is still basically 500 bucks...In my household it would get chipped away on small things, a dinner out...the movies..next thing you know, it's gone and you have nothing really to show for it.

That M15, next year might be a 650.00 dollar gun (just tossing a number) or who knows, but for a fact it will never depreciate

Good luck with whatever you work out. ;)
 
I have a certain fondness for Model 15's, and don't mind having a few in my safe. I would take the gun in lieu of the $, here is my reasoning:

I think the nickel models bring a slight premium over the blued versions (maybe 10%?). Around here, a decent, blued M15 seems to fetch about $400~450. Add 10% ($40~45) and you are, for all intents and purposes, at the amount you loaned him. Money in a savings account (1% or so) actually loses value in relation to inflation vs interest.

The way S&W prices are increasing, if you hang on to it for a year or two, you will probably make a bit better money than if you had the cash in a savings account.

Plus, you can shoot it.
 
I'm in N.E. Oh. A "prestine" nickle M-15 would easily fetch $500 around these parts.
I have several older 90+% Smith revolvers and wouldn't take $500 for any of them.
Example: Local large idependant shop has two unfired M-10 4" blue in the box.
Price? $600 each and he'll sit on 'em till he gets it. (not from me tho!)
I paid $425 for my 2nd M-15 4" blue & felt I got a deal.
Alas I paid $300 for my 1st one years ago.:(

Quote: i'm glad I don't have any friends anymore
( I know what you mean pal!)
 
Why can't your friend sell the gun on GB and give you the money?

If he gets more than $500, you get $500 and he keeps the change.

If he gets less than $500 he pays you what he got for it, and still owes you the balance.
 
I would take the gun for collateral. If the friend really does intend to pay you back, he won't mind. When he does pay you back, he gets the gun back. That way, there is some kind of motivation to pay other than just your friendship and a real intent to pay. If something, God forbid, would happen to your friend before he pays you back, you are out the gun and your $500. If something came up and you desperately needed cash, at least the gun would give you some quick cash.
 
I personally never lend money, unless I can afford to lose that money. I have lent 1000's to good friends in need, and the big ones paid back. $500 is a mid-range loan.

Choose the option that won't come between a friendship. If $500 is a big deal, then maybe the friendship isn't a strong one. If taking the gun makes him feel better, take it, unless of course you won't feel better. A good friend is worth way more than $500.

I'll give a story.
A very good friend on mine, in his late 40's, needed $2000 to get into a new house, and was agonizing over having to ask his father yet again for money. I gave him the money, with an open ended 'pay what you can, when you can. Or if you can't, I wouldn't hold it against him'

This friend was a good poker buddy, and went to our monthly poker nights and attended tournaments with me. Never once did I mention the loan.

He took a year and 1/2 to pay me back, sometimes $50, sometimes $200. Only once with poker winnings. I usually refused on poker nights, but that one was the pay off, so I let him do it. And I charged no interest.

Had he offered something like a gun of similar value, something I like and something I would spend the money on. I would gladly have taken it.

I moved 4 states away, and still have a friend I can call on for anything, so does he.

Now, how did my girlfriend at the time take it, or his wife? Well, don't ask that. Both of them were nutty about it.


....and.... it took him a few months, to really understand, that I wasn't going to worry about it.
 
Is not like that guys. I am not pressing him for the money and he knows that he can take as long as he needs to pay me back. He just offered the gun if I wanted it for the 500. We are good friends.

But I have been selling some of my stuff due to non use and hardly going to the range these days so I told him I would let him know. I wasn't really thinking about getting another gun at this time.

The 500 doesn't make much of a difference one way or the other for me because between 2 mortgages and 2 kids in college, it goes quit when I have it. lol

But you know how it goes, you think you don't want or need another gun and then...we're all been there.
 
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