Do all gun stores insult you, or is it just some of mine

[nipster]

I am looking to sell a particular gun of mine, and have been making the rounds at some of my LGS's.

Today I had one do something that absolutely fascinated me.

1. he made a lowball offer on a piece of paper.
2. he whips out a calculator, and puts another number under it
3. he then subtracts the second number from the first number and then circles it and says "this is my offer"

I ask him what those numbers are. He said the first one is what he would offer me, the second number is what he would have to make off of it, and the third was my "out the door" offer.

I ask him what his profit percentage was, he says 35%. I tell him that seems a little high, and then ask him why he is going to charge me his profit percentage, and then put the same markup one whatever his asking price is.

His response is "That's how we do it here".

I then ask him what would the offer be for a trade against one of his in-stock guns. He says "the same", so I try to get him to rationalize why he would charge me profit and then have that same profit built into his trade, and then charge tax on me.

I was pretty irate at his lowball offer, but his trying to explain the trade rationale made me just take all my energy to not insult the guy and walk out. As it was, I just said, thank you and walked out.

Amazing... FFL's have a terrible reputation for a reason.

I think 35% profit expectation is crazy personally, but his profit margin is not my concern and I dont see how this even comes into play when making an offer, especially when they lowball you as bad as they did me.

 

[A10]

Most of the time if I'm trading, I'm expecting low wholesale. My LGS sells on consignment too, and charges 50 bucks to do it. I've done that a couple times now, and it works out well. You might try to talk them in to that.

 

[redlevel]

A gun store is a terrible place to try to sell a gun, unless you own the store. Those folks are in business to sell guns, not buy them. I don't even try to trade guns at any of my dealers any more. I can get more on a S&S board, and they can sell to me cheaper on a straight sale than on a trade. Remember, if they buy that gun from you, it might sit in the case for six months before they move it.

 

[jframe]

I make more than that on Hyundai parts every day on my retail side, and nobody complains. Most folks complain more about LABOR charges. He's in business to make money, and I think it's about right percentage wise, considering he owns a business. What pisses me off is the guys at gun shows posing as "dealers" that try to gouge me for the same percentage, and have NO overhead or other costs. I'd come closer to paying that markup to a shop any day versus some zipperhead at a gun show that's trying to make that much on everybody at his table.

 

[nipster]

I may end up selling it here. It's just I dont want to deal with shipping. I am trying to avoid that headache.

 

[snowman]

Sir,

Would you consider trying to sell it FTF in your area?

Andy

 

[nipster]

Sir,

Would you consider trying to sell it FTF in your area?

Andy

Yes, I may try putting it on Armslist or another local website. But I am not terribly fond of this method, at least as a seller. As a buyer, I do it all the time.

 

[Badquaker]

35% is not a large profit margin.

If you knew what the margin was on clothing and furniture, you would fall out.

 

[JamesFlowers]

I remember putting clothes on the shelf for a major Southern department store when I was a teenager. For some reason all the invoices were with the clothing (Men's Dress Slacks). The store had paid X for the pants and where putting them on the shelf at 3X. And this was in the late '80s.

 

[HAWKEYE10]

Yes, I may try putting it on Armslist or another local website. But I am not terribly fond of this method, at least as a seller. As a buyer, I do it all the time.

You say in another post that you don't want to ship a gun and in this post you are not found of selling on a local website. That brings you back to the local gun shop or you could keep the gun. If you sell the gun locally or sell it here you can keep some of the profit that the LGS makes but you will have to do a little work for it. Don


PS I would sell the gun myself.

 

[chud333]

Good Idea

I may end up selling it here. It's just I dont want to deal with shipping. I am trying to avoid that headache.

Nipster,
You would do well selling on here and shipping is'nt as bad as you may think. I've done some buying and trading and selling on here and it's really not a hassle at all. Especially after you have done it a time or two and get good responses from those who you send the gun to. Just be sure to box the item securely and safely. Then insure your item, this way someone
has to sign for it. Nobody can claim, "It never arrived".
Plus you'll get a good price for your gun on here if it's in good shape and a desirable model. No getting gouged by some guy trying to make this months rent payment off of one purchase.


Chuck

 

[Kanewpadle]

35% is not a large profit margin.

If you knew what the margin was on clothing and furniture, you would fall out.

Exactly. And you never know how long the gun will sit until sold. NEVER sell or trade a gun at a gushop. You WILL lose.

 

[novalty]

Well 35% is better than one of my LGS, that told me one time when I was selling a gun that they would give me 60% of the value for buying, and 80% if I traded.

 

[doublesharp]

Walk it around at a gun show with a good price is the best way I've found to get out fast at a decent price. A gunshop deal is quick and clean but you have to pay for the convenience.

 

[quneur]

I've transferred one gun and purchased one from a local pawnshop and found both experiences pleasant. The owner charges $15 for handguns/$10 for long guns and also for consignments. He will first research the value of the gun and will offer to buy it outright minus $15 for transfer fee or put it on consignment and will only charge the transfer fee when bought. The only profit he makes is in the transfer fee.

 

[nipster]

I understand B&M stores have overhead and it may sit for a while, but honestly, for someone to take blue book, cut it in half, and then take 35% off the top is insulting.

I realize they have to make a profit, but especially for a trade, their profit is already built into their asking price and it makes no sense to make profit twice to me, it's insulting to my intelligence.

 

[mkk41]

Well , it's like that show Pawn Stars , you are looking to sell , they are not necessarily looking to buy. I've been in the gun biz (off & on) for a long time. Many factors to what a shop will offer. Ya gotta look at that particular gun , the wholesale price and availability vs demand for that model , how long will it sit , what it will actually sell for , etc. The gun market is funny now. It's all about black plastic tacticool combat stuff.

I've had people come in looking to sell , and thought they would get more than a brand new one would cost me from a distributor. In some cases they paid way to much for it because they wanted it when it was the latest , coolest and demand was high. Now demand died down and wholesalers had many in stock and sell them at discounts.

My general rule for buying walk-ins was 50-65% of Blue Book. 50% for just a gun , 65% if it had box/papers/extra mag/etc. The owners preceived condition was usually the sticking point.

Of course , if you're looking trade in , or the gun is in high demand/low supply , and you're a good steady customer , you'll get more.

But , yes , some dealers are , , , , !

I was in a local shop when an older gent walked in with a 6in blue S&W Model 57 in presentation case with tools and papers. Insert was cracking but the gun was perfect with smooth targets.

The owner of the shop offered the princely sum of $135 because ''nobody wants revolvers anymore and ya just can't get .41 mag ammo''.

He was much happier with what I offered him in the parking lot after he stormed. So was I!

 

[lawandorder]

Unfortunately

in way too many instances across the country when someone gets on the back side of a gun counter they become an instant expert in all things gun, and lose all sense of customer service.

Most of the time it seems to be the employees but have encountered owners afflicted with the same malady.

Good customer service, with a dash of humility, and just the plain ol courtesy of listening really goes a long way toward a successful business venture.

 

[gasaman]

Well 35% is better than one of my LGS, that told me one time when I was selling a gun that they would give me 60% of the value for buying, and 80% if I traded.

I've been told the same by one of my LGS here in Massachusetts.

 

[steamloco76]

Most of the gun stores I've dealt with give terrible trade or buy offers. Some are honest enough to tell me not to trade with them because store policy won't let them give me a fair shake. I still buy from them because less educated people sell "this old gun I got from Gramp's estate" to these stores. They get them cheap and sell them at slightly under market price.

I do have one LGS that pays good money for guns he knows are desirable. I do some trade and sell with him because he then gives me really fair deals on collectible arms he knows I like. His used mark-up is 30 to 40%. I get a better deal. His new mark-up is only 15- 20% due to places like Bud's and Cheaper Than Dirt.