Is Blue Book for real?

[jtcarm]

I been outta the gun trading game for a while and have been in shock at the prices I see for S&Ws online and used in gunshops (haven't been to a show in at least a decade.)

Anyway, I just bought the BB 33rd online, and I would sure like to know where they're shopping. I won't divulge copywrited material, but they list a certain limited run N-frame in 100% condition as $475. That's probably not much above MSRP when they were new in the late 80s. I know, because I bought one new back then, and the only specimen I've seen recently was priced over $700 I was checking to make sure I'd bought a current edition!

My thumb-in-the-wind estimate from looking online and at local gun shops is that used S&Ws are priced 20 - 40% higher than book, with the N frames being most out of whack.

One model I'm interested in is listed at $400 in 98% condition. A search of completed auctions on Gun Broker didn't turn up anything that had actually sold for under $500.

So is BB whacked, or am I just looking in the wrong places? Or are sellers just asking absurdly high prices that no one will actually pay?

 

[mr.jbk79]

Not sure where they're coming up with all their prices, but I agree, it's out of whack.

 

[KEN L]

For most guns in the "collectible" category, Blue Book is only a suggestion. People in the gun trades have known this for years. Blue Book suggests what the price should be. Real world tells a different story. Take a look at the price ranges of M1 Carbines. Not even close. There are so many different variations on these that it would be impossible to keep up with the value trends. Heck, I collect em' and I can't even keep up with the values!

 

[Hoosier45]

Yes, I completely agree that BB is way low on prices. I've only been buying and trading for the past 15 months, but yes prices of SOLD guns have risen about 10% in that time period, in my estimate. Yes people are asking HIGH prices and many sit on gunbroker for months, but the guns that do sell, are like you stated 10-20% higher than BB. Gun prices are discussed everyday on this forum and one thing is certain, the most sought after S&Ws are not made anymore or in limited quantity, so buy them today and enjoy them because prices on guns/ammo will only go up.

 

[luis]

BB was never ment for the general public to use. The prices are designed for dealers to show before they make an offer to buy a gun. Usually dealers offer sellers 25%-50% below BB.

FYI in my area "collectable" S&W are selling at local gun stores for BB to 5% below BB. Many baby boomers are retiring and younger buyers are not collectors.

 

[PMRet]

FYI in my area "collectable" S&W are selling at local gun stores for BB to 5% below BB. Many baby boomers are retiring and younger buyers are not collectors.

Sounds like a nice place to buy a vacation home...

 

[twofish]

Sounds like a nice place to buy a vacation home...

Or maybe even just visit once a month to shop around a little......!

Seriously though, I buy and sell some vintage guitars also and most "Value Guides" are just that. The producers of the guides typically gather value information from the previous year or months from dealers not Joe public buyer.

So the guide in itself tends to be more of a true resource for dealers when evaluating what to offer on trades or purchases of mine and your used guns which as previously stated is normally 25% to 50% less than BB retail.

Does that mean we as the public can expect to be able to buy the same gun back from the dealer for BB retail? No, at least not in my area. Most guns are in the display case at some number substantially higher than BB retail. This is why I think BB is more of a true resource for dealers rather than retail buyers whether it is a revolver or a guitar.

In my opinion the best indicator of present time true value is completed auctions on an open auction site available to all prospective buyers whether it be on Flea-bay or Gunbroker or whatever.

This opinion and $1.25 will get you a cup of coffee at McDonald's.

twofish

 

[SixGunSam]

I couldn't agree more. The BB is useful for determining that a gun exists. My experience with blue books is that they are a useful tool for the dealers (who in my opinion shouldn't be at gun shows anyway) to gouge you. It's amazing to see how fast they will forget about their almighty, infallible, doing-you-a-favor-to-get-you-a-fair-price Blue Book once you start talking about their guns. I've seen it too many times. "Well, that K-22, very good condition...with the box...is worth about...let me check....$300, so I can give you about $275 on trade. Yes, that police turn in model 64 is a great gun...you can't go wrong with a good .38. Sure, your gun and about $325 will do it. I've even got a nylon holster for you."
Rant over.

 

[Colokeb]

I did a 5 year 150 gun sample of BB listings. Fifty handuns, 50 rifles, fifty shotguns.

I found that while average prices 2003-2008 went up 8%, the rare/unusual gun listings were just reprinted unchanged. They are lazy about doing a full update of all the listings.

 

[quinn]

I attend gun shows pretty regularly. The BB seems to come out when the table holders are discussing buying your used gun or taking it as a trade. You very seldom see the BB used to justify a selling price of gun already on their table. BB's main market may be "dealers".

 

[haggis]

This opinion and $1.25 will get you a cup of coffee at McDonald's.

twofish

Is that the Blue Book price? Seems a little low to me (at least when my wife orders).

Buck

 

[zonker5]

Bear in mind that with lead time for printing, BB is 6 months to a year out of date when it hits the stands. I use mostly in a trade situation to guage the relative value of the guns, not the absolute price.

 

[Dave T]

In my experience dealers use the BB value as an excuse to offer low ball prices for used guns. I've had them open the BB and claim that price is retail so they offer me 50% or less. Selling a gun to a dealer is a (expletive deleted) waiting to happen.

Dave

 

[jtcarm]

BB was never ment for the general public to use. The prices are designed for dealers to show before they make an offer to buy a gun. Usually dealers offer sellers 25%-50% below BB.

FYI in my area "collectable" S&W are selling at local gun stores for BB to 5% below BB. Many baby boomers are retiring and younger buyers are not collectors.

Hey Luis,
How's about I come over and we hit a few shows

 

[StatesRightist]

The Blue Book, ET and Bigfoot are all factual.....come on guys.

 

[67tempest]

I use the BB for more of a source of reference material regarding makes and models and not a pricing guide. My main interest lies in C&R military firearms and the pricing there can fluctuate wildly in a very short time. The BB never seems to have real world prices regarding these types of firearms. I agree that is mainly a tool used by dealers to help them establish a starting point when making an offer when purchasing a firearm.

 

[310Pilot]

I owned a gun shop many years ago, and can categorically state that the "Blue Book" is, has been, and will always be, a tool for dealers in purchasing, but not selling, used guns. The data source is dealer surveys, and they know which side benefits them. In fact, it was never available to the public until relatively recent times. The purported values in the blue book have always been unrealistically low, and they are far worse in recent years. That isn't going to change, either.

 

[perrazi]

makes good outhouse material. either reading or using.

 

[mike from st pete]

The reasons I stopped buying the BB are listed above.
Fantasy pricing two years out of date.
The words from the gods and then some.
It all depends on which side of the table one is standing on.

 

[mbliss57]

BB was never ment for the general public to use. The prices are designed for dealers to show before they make an offer to buy a gun. Usually dealers offer sellers 25%-50% below BB.

FYI in my area "collectable" S&W are selling at local gun stores for BB to 5% below BB. Many baby boomers are retiring and younger buyers are not collectors.

And what area of what state might that be Luis..? I was thinking of looking for a new job