Am I being lowballed?

[The Greg]

I sold some ammo for guns I don't own anymore, and while talking to the guy it came up that I was thinking of selling some other guns.My 29-2 nickel 8 3/8",and 29-2 nickel 6" are not nib but are not abused either. He quoted me out of a book at $550.00 to $575.00 each. I think I would hold onto them at that price. What do you think?

 

[snowman]

My opinion: I believe you could do better than that, especially given the inclusion of presentation boxes and tools.

Andy

 

[NMPinNYC]

From the shine coming off those revolvers, I think I now know what was inside the briefcase in the movie Pulp Fiction... your Smith handguns.

 

[Badquaker]

Sounds like wholesale, so he can flip them for a profit.

 

[StatesRightist]

I sold some ammo for guns I don't own anymore, and while talking to the guy it came up that I was thinking of selling some other guns.My 29-2 nickel 8 3/8",and 29-2 nickel 6" are not nib but are not abused either. He quoted me out of a book at $550.00 to $575.00 each. I think I would hold onto them at that price. What do you think?

That is about right, if he was a gun store trading you at wholesale. However, since he's an individual he's crazy. Those guns are worth $700-$750 retail where I'm at.

 

[perrazi]

i wouldn't sell them for that if they were mine. another 200-250 would be about right.

 

[pinduck]

Why not list them here in the classifieds at the price you think is right and see if they sell?

 

[Rule3]

I would seem they are worth more if the Nickle finish is excellent, but can't say from those pictures. Not saying they are not, but the pictures say nothing.

 

[rock doc]

YES...you are being lowballed. Add another $150 to $250!! I'm sure you can get what you want here at the classifieds.

 

[ralph7]

probably more than a whole lot of dealers would offer you.

 

[Sprefix]

Yes, and you would be better selling them on the forum for an honest price and to a person or persons that will appreciate them. JMO..., and $750 or abouts is what I think you could get.

 

[David LaPell]

I think he is least a $150 under.

Tell him the guns are $400 and when he whips out the money then tell him that is just the deposit.

 

[zoom6zoom]

Blue Book values are out of date before they reach the printer.

 

[forresth]

You suggested you wanted to sell, he gave you a number he'd buy at. The book sounds very out of date. Is he trying to scam you? maybe. Offer to buy some of his guns based on those values and see how he reacts

maybe show him this;
http://www.collectorsfirearms.com/admin/product_details.php?itemID=43242

 

[Hyperion]

I think $550 a piece is a great price; for me to buy them that is...

 

[Mickey D]

I'll take it. $600 ea.

 

[chud333]

That is about right, if he was a gun store trading you at wholesale. However, since he's an individual he's crazy. Those guns are worth $700-$750 retail where I'm at.

+1 what he said. All day long.....


chuck

 

[vytoland]

he just made an offer not a contract.....come back with $900 each and see how he reacts.

 

[Art Doc]

He's offering you the "I'll take everything you got for cash money right now" price. Yes, you can get more by holding on to them and advertising them and dealing with tire kickers and morons. What's more important to you, getting top dollar or getting paid on the spot and not having to deal with the inconvenience of selling?

 

[gkitch]

I think his offer is on the low end of "fair". Certainly not wholesale.
I'd rather have either gun than $600 cash though. Buying and selling is really all about what something is worth to those on either end of the transaction.

 

[nipster]

$900 would be a tad high I think. But he did lowball you. I'd give you 650-700 for the nickel one maybe.

 

[Jswiney9]

700-750 retail in my area

 

[H P Bushrod]

I think his offer is on the low end of "fair". Certainly not wholesale.
I'd rather have either gun than $600 cash though. Buying and selling is really all about what something is worth to those on either end of the transaction.

I agree. If I had to sell one, I'd keep the 6 inch gun.

 

[A10]

Definitely low. They would sell in fairly short order around here for 750 now, give it 6 months and add 75 to 100 bucks....

 

[Nanook 450]

Four inch 29s seem to bring more - but he's low - the cases sell for over $100 all the time.

 

[Roscoe05]

He made you an offer....if it is not what you want then counteroffer him. Maybe he started low & a counteroffer is what he was looking for....Its called negotiating. Perhaps you can reach a price that both parties are happy with. If he doesn't want to budge & you don't like the price move on & don't take it personal. The price is a low but it depends on how bad you want to sell them.

 

[scooter123]

Of course you're being lowballed, in a similar position that's likely what your initial offer would be. If you don't like the price offered, counter with something a bit higher than what you'll accept and see what he say's. It's called Dickering and was once the most common method for striking a deal both parties find agreement with.

BTW, that offer is high in terms of wholesale value and low in terms of retail, which indicates to me that it's an honest initial offer and not the least bit insulting.

 

[gkitch]

It seems we have varying definitions of the same term.
My offers vary depending on how much I actually want the item. If it is something I really want and have been waiting for, I will offer a fair retail price off the bat. If it is something I'd kinda' like to have but waiting for a good deal, then the lower end of fair is what I'm shooting for...in other words, what it is worth to me. Now, if it is something I neither want or need, but it is kind of interesting and I might be able to trade it or make a buck at the next gun show, then my offer will be about half of what I think I can sell it for.
To me, "lowballing" is when it would be something really wanted, but offering a wholesale (or less) price. Happens all the time, but not in the case of the gent who offered these prices for your magnums.

 

[toddimusnimski]

It wasn't clear from your post if he was making an offer or just trying to help you establish a value. Either way, $750-$800 is closer to reality. At least from what I've seen here lately.

 

[310Pilot]

Having owned a gun shop in the past, I can tell you that the Bluebook is a dealer's tool designed to facilitate dealer's purchasing of used guns, purporting to represent a retail price (usually well below market value), from which the dealer will offer a seller a somewhat lower price as "wholesale." Of course, when the gun is put out for sale, the Bluebook price is "outdated" or "inaccurate," as the dealer's new retail price will be far above the supposed retail price shown in the Bluebook. It has always worked that way. That person knew that, and was trying to get you to sell the guns for a low price in order to make a substantial profit. Remember, when it comes to guns, Bluebook = Snake Oil.