This came up in my thinking about the thread about counting the fees when purchasing guns online. Which I seldom do anymore. I am looking at some guns locally right now that a lady wants to sell. Her husband has developed some dementia. I can't beat up on widows orphans and family members who are dealing with medical issues...so I will make a reasonable offer for the whole batch with the highest prices for the ones I want with prices for the run of the mill guns for what I can sell them for in a fairly short period of time. That gives her a short turn on the items and gives me a short turn on the extra money spent. Sometimes I will actually make a small profit on the extras I don't want. When I sell some of my own I try to make a decent profit. If anyone else here buys multiple guns like this how do you do the deal? I once drove from Wyoming to New Jersey to buy a LOT of reloading items(my cost was 5000 bucks) from a lady. No guns were in the original deal...but ended up buying a Kolar O/U shotgun for a very reasonable price when she said she was going to sell it in a yard sale for a 1000 dollars....From what I have been told that is a no-no in NJ. That was a really nice gun...couldn't shoot it worth a darn
Do any here buy guns from Estates etc?
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ColbyBruce
Member
I have three times now
The first two times I kept what I wanted and sold off the rest. It was more trouble than it was worth. I am now periodically buying guns from my doctor’s receptionist, who lost her dad last summer. I don’t know what the man died from, but it wasn’t complications from using an oily rag. I got a Glock 20 from her that looked like it had been drug behind her car from Key West to Atlanta; and many others in similar condition. A Blue Sky re-import USGI .30 carbine that was covered in grey spray paint; the sights would not adjust. A Howa built AR 180 that is 90% devoid of finish. I seriously doubt I will bother to do this again.
The first two times I kept what I wanted and sold off the rest. It was more trouble than it was worth. I am now periodically buying guns from my doctor’s receptionist, who lost her dad last summer. I don’t know what the man died from, but it wasn’t complications from using an oily rag. I got a Glock 20 from her that looked like it had been drug behind her car from Key West to Atlanta; and many others in similar condition. A Blue Sky re-import USGI .30 carbine that was covered in grey spray paint; the sights would not adjust. A Howa built AR 180 that is 90% devoid of finish. I seriously doubt I will bother to do this again.
I have had very good luck buying estate guns. Have do so only in my home state of Virginia. I offer a fair price. And walk away if the estate feels it isn't enough. I've often get a call in a few days asking if I'm still interested.
ExRanger714
Member
Most of the "estate" sales around here are people wanting maximum return on an item whose value is nowhere near what they think it's worth. You find items priced at the "sentimental value" rather than reality prices.
One family wanted $400 for a Springfield bolt action 22 rifle. They justified the price because "it's a pre-64." Try to explain their misconceptions, without laughing, and some of them act like you have cast aspersions on the character of the dearly departed. You want to say something like "Well, if Paw-Paw said it was worth that then he was indeed demented. Here is a real world estimate and I will pay no more than. . ."
It is easier to negotiate if you don't know the family or the recently deceased.
I had a aunt get killed on what she realized out of my uncle's small collection because she just couldn't wait three weeks for me to get home to help her price his stuff and the vultures got to her first.
One family wanted $400 for a Springfield bolt action 22 rifle. They justified the price because "it's a pre-64." Try to explain their misconceptions, without laughing, and some of them act like you have cast aspersions on the character of the dearly departed. You want to say something like "Well, if Paw-Paw said it was worth that then he was indeed demented. Here is a real world estimate and I will pay no more than. . ."
It is easier to negotiate if you don't know the family or the recently deceased.
I had a aunt get killed on what she realized out of my uncle's small collection because she just couldn't wait three weeks for me to get home to help her price his stuff and the vultures got to her first.
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italiansport
Member
I do this from time to time. The bottom line for me is can I keep the ones I want and recover my costs selling off the rest. I offer fair prices which is less then retail of course and I explain the alternative (auctions) will charge them a hefty commission!
Jim
Jim
Most estates I see are sold through local gun "Sporting goods" auctions. Auctioneers usual charge is 15%. These auctions attract good attention and realize good prices. Except for a few more rare pieces that's how I plan to dispose of most of mine in a few years.
Old TexMex
Member
I have been to estate sales locally....jewelry, lamps, rugs, toaster, rods & reels, grandads old guns....made a few good buys.
shouldazagged
Absent Comrade
The sweetest handgun, revolver or automatic, that I ever owned, an unfired 15-3 with a truly amazing trigger, was bought from an estate consignment at an LGS, not a direct sale. No discussion with the family of the late owner, but also no negotiating the price. I thought it was well worth what I paid. There were two, both immaculate, and to this day I regret I didn't take both.
S&WsRsweet
Member
It’s kind of sad to see a fellows prized possessions just sold off after his demise .The wife and I went to an estate sale a few months back and this lady had a little sewing business .They ad all kinds of cloth thread needles ect.A couple of the women got to flat our arguing over who got their hands on one bundle of cloth first.I steer clear of women arguing over a deal .They get down right mean.
Chief Wiggums
Member
there is a long running joke "my only fear is that after I pass , my wife will sell all of my guns for what I told her I paid"....or something along those lines
tndrfttom
Member
A friend of mine was an appraiser and estate liquidator who would occasionally get an estate to dispose of that included guns, ammo and reloading equipment. She had an FFL and was an Olympic class pistol shooter and placed high at Camp Perry the years she went. While she knew target pistols and their values she didn't have time to track everyday firearms prices and asked me to identify and price the guns that she would get to resell. (I would also marry-up holsters, sights, boxes, magazines, etc to go with specific firearms). She preferred to work-up a lump sum offer for the entire estate but sometimes it was necessary to divide up the household inventory into separate lots (like the gun collection, ammo etc.). I was never privy to the offers she made to the heirs but I presume it was about 50% of the realistic values I placed on the guns. I do know that she was not interested in reloaded ammo and offered nothing for it. And as far as I could tell the great majority of the estate lots she made an offer on (ranging from 8 to 120 firearms) she bought. (A lot of the sellers just wanted to settle their relative's estate as fast as possible, get the money and get on with their lives).
When it came time to sell guns she would would primarily list them on gunbroker starting at $1. She was only interested in keeping factory .22, .38 and .45 ammo the rest she would sell to me for about 1/2 of what it was worth. (I'd get the reloads for free and break some of them down for components). Similarly, she wasn't a reloader so I would buy the reloading equipment and components for 1/2 of what it was worth.
If you are wanting to buy an estate's guns in order to keep a few select pieces and sell the rest I'd say great - go for it. But in my area you better come prepared with cash, know what stuff is worth and be ready to finalize a quick transaction.
When it came time to sell guns she would would primarily list them on gunbroker starting at $1. She was only interested in keeping factory .22, .38 and .45 ammo the rest she would sell to me for about 1/2 of what it was worth. (I'd get the reloads for free and break some of them down for components). Similarly, she wasn't a reloader so I would buy the reloading equipment and components for 1/2 of what it was worth.
If you are wanting to buy an estate's guns in order to keep a few select pieces and sell the rest I'd say great - go for it. But in my area you better come prepared with cash, know what stuff is worth and be ready to finalize a quick transaction.
I made an offer for $600 for less than 10% of an estate; a pawnshop owner came over from the coast and offered $4K for at least $10K in guns and ammo. Filled half a Ryder truck. I couldn't possibly go $4K today to sell over the next couple years, especially without an FFL.
I have been buying 'estate' stuff for decades. Years ago there were adds in newspapers for "I buy guns", etc. Today, not so many, but the LGS's all post signs about buying guns.
My approach was/is that "I" would not make an offer, rather for the seller to contact the local "buyers", get a quote, and I will pay 120% of that number. The stipulations were that nothing would be sold individually from the lot to prevent cherry-picking.
This works quite well, as I am not generating numbers, other 'experts' are, and I am topping their offers. The key is that the professional buyers are offering 50% value an a good day. This brings me in at around 60%, and I can sell what I do not want for quick sales at good prices and keep what I want or just turn it in to cash. Everyone, including my buyers, gets a reasonably fair deal.
My approach was/is that "I" would not make an offer, rather for the seller to contact the local "buyers", get a quote, and I will pay 120% of that number. The stipulations were that nothing would be sold individually from the lot to prevent cherry-picking.
This works quite well, as I am not generating numbers, other 'experts' are, and I am topping their offers. The key is that the professional buyers are offering 50% value an a good day. This brings me in at around 60%, and I can sell what I do not want for quick sales at good prices and keep what I want or just turn it in to cash. Everyone, including my buyers, gets a reasonably fair deal.
I've bought quite a few items at estate/garage/yard sales. Many were purchased with the intent of reselling. Several boats, outboards, fishing equipment/tackle, 4Wheelers, hundreds of duck and goose decoys, more wrought iron and cast aluminum patio/pool side furniture than I could ever use...
I guess the best firearms purchase was at a garage sale. Purchased two NIB consecutive serial number Nickel M-39's for $200 about ten years ago. They still live in one of my safes.
Latest good estate sale buy was an M.S.A. (Marble's Safety Axe) marked 7" blade "Ideal" knife with the correct sheath. It was in near new condition. That version of the "Ideal" was only produced from 1907 - 1911. I got it for $50 and sold it on Fleabay a few weeks later for about $750. Also purchased a NIB custom made Mastodon ivory handled skinning knife that was originally auctioned for $400 according to the auction receipt under the foam liner of the box top. I got it for $45 and gave it to the deceased's nephew, a friend of mine, as a BD gift last year.
Class III
I guess the best firearms purchase was at a garage sale. Purchased two NIB consecutive serial number Nickel M-39's for $200 about ten years ago. They still live in one of my safes.
Latest good estate sale buy was an M.S.A. (Marble's Safety Axe) marked 7" blade "Ideal" knife with the correct sheath. It was in near new condition. That version of the "Ideal" was only produced from 1907 - 1911. I got it for $50 and sold it on Fleabay a few weeks later for about $750. Also purchased a NIB custom made Mastodon ivory handled skinning knife that was originally auctioned for $400 according to the auction receipt under the foam liner of the box top. I got it for $45 and gave it to the deceased's nephew, a friend of mine, as a BD gift last year.
Class III
jag312
Member
I don't know how many times I have heard, "Thirty-five years ago someone offered my father $10,000 for this." And my response is, "He should have grabbed it."
BLACKHAWKNJ
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In recent years I do all my shopping at thrift shops, rummage, estate sales, etc. Quality items at a deep discount. Only one firearm, a very nice 1918 made SMLE, I paid $140, that was what they asked.
In the last few years I bought a number of estate pieces that were consigned to FFL holders. I think in every case I paid a fair price and came away with the knowledge that I was helping a widow out. It came down to basically whether it was worth it to me at that price. One of them is now my first line .22 target pistol and another one is a resident of my safe instead of being part of a manhole cover. The estate sales provide a means of putting old classic pieces in the hands of members of the next generation who would appreciate them.
I bought an m1903 National Match C stock for $5 at an estate sale. Made a little money on that one. The only complete firearm I ever bought at one was a nice 70s Remington 1100 12 ga. for $300. Made money on it too
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