A friend is trying to sell part of his collection to aid a grown daughter as she opens her own business. He has worked with my guy for a while and because I am "internet savvy" wanted help trying to sell his guns. They are listed on Guns America. We managed to sell one in the past few months. Three others remain.
The big daddy is a Connecticut Special Launch Edition 20 ga. Side by Side by RBL valued at $12,000
He is asking $8,500. Mint condition.Then is the K22 6 shot S&W Revolver, Not mint but close. Asking $900
The last is a Browning Challenger .22 made in 1971. Mint condition, never fired, original box. He is asking $800.
I recommended taking them to gun shows and taking the Connecticut to Bass Pro for at the very least a nicely documented appraisal from their fine gun staff. He is a bit stubborn and short on time though so they sit on GA and wait. Thoughts? Ideas? What can we do? Places to list them? I feel awful because he asked for my help but I told him I have no idea what to do beyond listing them for sale.
I reproduced this on my blog. I hope that helps. (Please let me know if that is an issue.)
ReplyDeleteThanks! You tend to get comments and readers I don't!
ReplyDeleteThe problem you are running into is that everyone is looking for a "steal". They want the best possible condition firearm for the lowest possible price. Pricing a good quality firearm at top dollar in this economy is likely to take a long time to sell.
ReplyDeleteHaving said that, I had recent success selling a Smith & Wesson Model 29 using GunBroker.com. The auction itself was a failure, but it put me in touch with an interested buyer who worked out a part cash/part trade deal that we were both satisfied with.
Taking the pieces to a gun show is an okay idea; however, what I said in the first paragraph applies equally, if not more so. It's a shot in the dark (no pun intended) to find a like minded private sale purchaser at a show. Make sure you have a sign big enough to be read from at least 20 feet away to get the most attention. Dealers at a show will make you an offer depending on how good their sales have been; however, it's likely to be a minimum of 20% to as much as 50% below "book" value that they would be willing to offer. Ditto for Bass/Cabela's.
I don't know for sure, but Bass and Cabela's may be willing to sell them in their fine gun galleries on consignment. You may also find a smaller, non-chain dealer willing to do a consignment sale as well. Expect at least a 10% commission to the dealer on a consignment sale.
Good luck. It's a tough, tough market right now especially for collectibles.
I hope it gets picked up and pointed to! That might help more than just my repost.
ReplyDeleteI told him this economy doesn't lend itself to quick sales. I feel awful though. I know how badly he wants to help his daughter. He is also selling an old classic caddy to raise money. Things just aren't moving with people so hurting and add that the desert regions are some of the worst off hastn't helped him for a local sale.
ReplyDeleteI appreciace the help y'all. So much.
Lila,
ReplyDeleteWhat ShepardK said is really true. It would benefit your friend if they could do a private sale between parties in the state you are in. All state laws are different, so I cannot advise on that.
If you go on line expect some money to get eaten on having a FFL holder there ship the guns to an FFL holder on the recipients end. Handguns must be shipped UPS or FedEx overnight. Both FFL's will charge a transfer fee to do the paperwork.
Don't know about long gun restrictions.
Another thing. I just checked the 2010 Standard Catalog of Firearms and they list the S&W Model 48 (K-22) in .22WMR as having a value of 700 for NIB (new in box).
The Browning Challenger was made by FN. NIB Value 600 as well.
Shoot me an e-mail. I can list the Firearms on my ranges buy/sell board. I am interested on the Challenger!
Oh, welcome! I came here through North's post on his Blog!
Thanks bunches. I will make sure to email you when I can get on my comp. I am on my phone now LOL. He said he is glad to know the values and he would like a little over that for fees and to give me a 10% but I am not super worried about a commission for me, just want to help him out.
ReplyDeleteIf it matters I think some of the values in that book are low ball, but generally pretty realistic. For collectors, more information is better. Original boxes, paperwork, provenance, etc.
ReplyDeleteSorry I cannot help on the Shotgun, they are not my forte.
You are welcome!
Keads is correct, the Blue Book values agree with what he posted. I'd try Gun Broker or Auction Arms as alternatives for Guns America, and I'd put both of them up with a reserve so there will be no sale if they don't meet it. He's a bit high, and one word of warning about appraisals, he will also have to pay for those, and they can run $100/gun... I might do that for the shotty, but not the pistols. Also, he would need to post the year of mfgr of the K-22.
ReplyDeleteNFO Pardon my lack of knowledge but what does it mean to post with a reserve? The K22 is not in box so we have the serial. Is there a link I can use to use that to find year?
ReplyDeleteYou guys are great!
If I understand correctly, a reserve is a minimum. That way I don't come by and I'm the only person buying the gun for $1...
ReplyDeleteGotcha. Thanks North.
ReplyDeleteNorth and OldNFO have some good points about the auctions, and they are correct that a reserve auction is the way to go. Set the reserve at the absolute least amount you would be willing to take in sale. On the Smith, the lack of a box will hurt the resale value. It'd be worth it to take it by a couple of dealers to get a ballpark estimate of condition as the book values run from the high for new in box (NIB) never fired to a low of basket case parts pieces depending on condition. The difference between NIB and a 90% gun can be significant on a Smith. My model 29 was an 85% gun. NIB collector guns were going in the $1000 to $1500 range depending on barrel length and year of manufacture. My 85% ultimately went for $550 or $600 depending on how you count the trade.
ReplyDeleteYou guys are so great. Thanks!
ReplyDeleteOne last thought on auction reserve price. It helps to know what dealers would offer on a particular piece so you have a target to beat. It also helps to know what other similar pieces are selling for which gives you a reason to lurk the auction sites and drool over guns. In my case, I set my reserve price at $100 over the best offer I got from a dealer (which was still below "book" value) to make it worth my time to hassle with the auction. Despite that, I still got grief from "serious collectors" about my reserve.
ReplyDeleteWell he rates the K22 at 95%. He told me I can settle for the prices you guys found plus 10% as a commission for me and then the cost of the transfer and shipping. I still worry that is not deal enough you know. That is over book. I know when I look at a car and then get the KBB value if it is under book I am thrilled. Having it a titch over book seems off. I means they are in great shape and I know he wants me to get a commission but I don't know if he is moving them very smart and I don't know how to get that point across. While he is happy to have me do the selling he doesn't necessarily think I know how to sell if that makes sense. He is a great guy but he is older and in his eyes I think maybe he sees me as a kid in some ways despite having a 9 year old and being a very capable woman.
ReplyDeleteYou have to remember that book values are not the gospel according to St.John Moses Browning. They represent an average of "reported" sale prices. There is a lag time in the publication of the values. So, a 2011 Blue Book might actually reflect reported average sale prices from 2010 or even 2009. At the end of the day, the right price boils down to what the market will bear. If you post an auction and get no action near your reserve, you're probably overpricing the market. But, then you also have to consider that a lot of people cruising the auctions are looking for wholesale prices in a retail market.
ReplyDeleteSo then lowering them to his new prices might be okay, hopefully, lol. Meh. Gun selling is a lot harder and a lot less fun than gun buying lol.
ReplyDeleteShepherd K is giving you some sound advice, Lila, hope it works out. I agree with him. Blue Book is just a guideline. Currently we're in a bad market when it comes to selling firearms. I buy a few here and there from locals and if they're price doesn't leave room for profit I can sit on them for months. We live in hard times...
ReplyDeleteThat we do Stephen, that we do.
ReplyDeleteLila, you can join this forum,
ReplyDeletehttp://smith-wessonforum.com/ and post the leading serial numbers (leave off the last two) and somebody can look up the mfg date for you.
Thanks NFO. That will help a ton.
ReplyDeleteYou're welcome :-)
ReplyDelete