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Old 03-14-2012, 09:22 PM   #1
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Default Need Some Guidence

Hello:

My husband passed away October 18, 20911. He left more than 20 guns, with no parents, that I have been trying to sell. What a night mare. The first thing I did was get the guns appraised, as instructed by my attorney, for IRS purpose.

Then I set about trying to sell the guns. Most gun dealers only want to pay you 1/3rd of what the guns are worth. Well , I'm not stupid. Gun collectors, since these guns are over 50 years old, only want to pay 1/2 of value. Auction houses will sell them but for a fee of 30% and some won't even take because they have no parents. Some auction houses take as much as 40% fees.

Now I am a reasonable person but why should I give them 50%, 40% or even 30 %. That is outrageous.

I was thinking about just putting an ad in the paper but there are too many undesirable people out there and I don't want to let them know where I live.

There has to be a better way to sell these "High Quality" guns. Everyone wants them but no one wants to pay.

Should I try selling them in another state, or what?

Can someone give me some suggestions?

Thank You
Fran

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Old 03-14-2012, 09:24 PM   #2
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Have you seen gunbroker.com? http://www.gunbroker.com/ There are other similar sites for online disposal of excess firearms.

Also, take a look at the classifieds section here; i bought some nice grips for my revolver on here.

If any of them are muzzleloaders/black powder arms, those will be easier to deal with, since they don't have to go through an FFL/gunshop for a long-distance sale.

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Old 03-14-2012, 09:42 PM   #3
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So sorry for your loss, Fran :-(

Likely most of the guns that are over 50 years old can be shipped to C&R FFL holders, and there are a lot of those here on this board, and on gunbroker.com. I agree, both are a good idea. In my experience Gunbroker is a seller's market, so most guns posted there sell for close to their real value. The classified here would take a lot longer to sell them all.

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Old 03-14-2012, 09:56 PM   #4
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Gunbroker.com is your best bet. Selling a gun to a dealer is like giving it away.

Having said that, there are still a few honest dealers out there that will sell them for you on consignment for a 10 percent fee.

Bear in mind though, that appraised value is full retail, and that will be hard to sell for.

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Old 03-14-2012, 11:37 PM   #5
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Default Auction House

I'm sorry for your loss.

You PERSONALLY don't want the trouble of becoming a legal gun seller as governed by a 1968 law, the personal connection with buyers, the trouble of selling each one, haggling, etc. The auction houses have a market of interested buyers who compete, will describe them, sell them for as much as they can as that's how they make more money, will handle them all at once, be responsible for their sale, and write you a check down the road.

Negotiate the discount (you've got them appraised so they have a good clue of what you have and this is invaluable), there are many so it is a simpler transaction than the onesey twosey stuff they get besides very large estates, and get rid of all of them at once dear. Accept that you are paying experts to manage this for you and make decent money for you.

Also, know they will find a good home buy someone who most appreciates them. It is a fine feeling for your good husband's legacy.

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Old 03-15-2012, 01:35 AM   #6
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Sorry to hear of your loss,and welcome to FTF.

Most appraisals are good for insurance values,and that's about it. In reality,you'll be lucky to get 60-75% of what they are actually worth being used guns.
Unless the guns that your husband had are rare or highly collectible,getting anywhere near an appraised price for them is not likely.

Like others have said,Gunbroker is a safe way to sell them,but you'll also have to pay them a fee for selling them.It's not too much,but it's not free.
You must also be able to safely package and ship them once they're auctioned off.Rifles and shotguns can be shipped at the post office,but any handguns must be shipped FedEx-Overnight,which is very expensive.
It can get time consuming for you,if you do the selling via Gunbroker,so you also need to think about all the time and expense that you'll be loosing vs either letting an auction house or gun dealer sell them for you for their fee's on a consignment.

Either way,it's going to cost you to sell them.You can have all the headaches and expenses of having to sell,pack,and ship the firearms.Or,you can take a hit on the money,and be rid of them at one time.

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Old 03-15-2012, 01:39 AM   #7
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I suggest you talk to Rock Island Auction. They are the leaders in high end gun auctions.

http://rockislandauction.com/

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Old 03-15-2012, 02:12 AM   #8
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I do expect to pay. Nothing is free in this world However, I don't want to give them away. I am a reasonable person and nothing is written in stone.

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Old 03-15-2012, 05:13 AM   #9
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Just as you never get "book value" for a used car, you will not get anywhere near appraised value for a used gun. If the gun is truly collectible and you can connect with a person looking for that particular gun to fill a gap in his collection, you can get good money for it. Individual sales have the highest probability of garnering top dollar.

If one of your husband's trusted friends can assist, he may be able to help you connect with the best possible buyer.

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Old 03-15-2012, 11:04 AM   #10
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MyMoney;
The fact of the matter is that you are in no position to truly know or enforce-if-you-did the value of these arms. Let the market decide and let the auction houses manage this for you -- there are quite a few.

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