Pawn Stars last night...

[sipowicz]

Woman brought in a Smith 320 she got at a yard sale...but she threw out the stocks....ouch!

http://www.history.com/shows/pawn-stars/videos/pawn-stars-hot-and-colt#pawn-stars-stuff-it

 

[David LaPell]

My favorite thing to hear is "I'm a collector" yet she had no idea about the fact the gun was cut up with the barrel hacked off, the stock even though she didn't think went to that gun, went to something and didn't bother to find out. I would have held firm at $800 to teach her not to think so much about what SHE thinks the gun is worth and to stay away from yard sales.
I saw it alot though when I was helping my buddy out when he had his tables at gun shows or just in his shop. Someone would take out a rusty pitted lump that at one time was a nice gun and ask some high as a kite figure and then get mad when they were told the real price and stomp off complaining they were being lowballed. The most recent two that I can recall was a short barreled early Colt Python blued gun that the idiot owner thought to take steel wool and scour off a speckle or two on the left side of the gun, ruining the finish. Then when he was quoted the price in that shape, he got mad and actually said the gun was near mint and he wanted big bucks for it.
The second was a guy who showed up with a Model 29-2 6-inch and wanted over $1000. Open the cylinder up and there were two holes where it was drilled and tapped. You could not convince the guy that it hurt the barrel. "How can adding a scope hurt it? It makes it more useful!" He could not grasp that collectors want unaltered guns. Another guy who was slightly ticked off when he was offered less than what he wanted.

 

[forresth]

I saw that episode. I thought he went way high on the price for that rust pile.

I wonder what she collects? It certainly must not be guns.

 

[mtelkhntr]

A lot of folks (including me at times) haven't grasped the concept that shops that are in the business of reselling firearms have to buy at wholesale and sell at retail. If folks want retail price for their stuff, they can open up a storefront, hire someone to answer the phone or talk with whoever walks in the door, be willing to accept "something of value" in trade and do it at wholesale, take a credit card that charges a % of the transaction, do lawaways, etc, etc, have the knowledge and expertise to do it and do it all with a smile on their face. I think I'm starting to understand.

 

[mkk41]

A lot of folks (including me at times) haven't grasped the concept that shops that are in the business of reselling firearms have to buy at wholesale and sell at retail.

Yep. I like the people who want much MORE than appraised value.

If ya walk into a pawn shop , you're looking to sell what you have. They are not necessarily looking to buy what you have. What it's worth TO YOU is not necessarily what it IS worth.

When I was selling guns , people would come in with a copy of Shotgun News and actually want me to order and sell them a gun at the price shown.

 

[jlrhiner]

I used to do appraisals on old shotguns. The first thing I would tell the owner is that there are two prices I'm going to tell them. First price is ALL the value in their particular gun. Meaning replacement value, or what you could expect to pay for the gun if you bought it outright from a dealer. It should also be the asking price for an outright sale to someone that wanted it. Second price is the price you will get if you absolutely want to get rid of it right now at the local pawn and gun.

Second price rarely exceeded 30% of first price.

 

[mkk41]

I used to do appraisals on old shotguns. The first thing I would tell the owner is that there are two prices I'm going to tell them. First price is ALL the value in their particular gun. Meaning replacement value, or what you could expect to pay for the gun if you bought it outright from a dealer. It should also be the asking price for an outright sale to someone that wanted it. Second price is the price you will get if you absolutely want to get rid of it right now at the local pawn and gun.

Second price rarely exceeded 30% of first price.

Then ya gotta try telling people that that old rusty single shot is NOT a valuable antique!

"It's a valuable collectors item because Sears don't make shotguns no more!"

 

[Dragon88]

So you're telling me my Smith & Wesson CTG with ultra-rare 4" barrel and highly sought after square butt isn't worth $2000!?!

 

[therevjay]

I realize there is a wholsale/retail price differance. But if Ricks "expert" (you know, the one who thinks SAA's have a ser# on the loading gate?) Said retail price is $1000 I would not feel guilty asking 1/2 - 2/3

I also thought in this case however, Rick payed too much. Another thing, I wish I'd known years ago that Smiths marked "CTG" on the Bbl. were rare and worth big bucks. I've sold a bunch for chump change!

 

[walnutred]

I work with a guy who is convinced his 12ga shotgun is worth a premium because not only is it a Winchester not marked Winchester (Sears) but it has the name of a famous baseball player stamped on it. I just smile and tell him I hope he's right. I do have to work with this guy. let him learn the truth elsewhere. Undervaluing a piece would be a different story of course.

 

[jlrhiner]

I've actually said, "so he signed it, did he? No it's stamped right there."

I've looked at some gems, and I've looked at some boat anchors. Never found that other Parker invincible.

 

[sipowicz]

The grips were in real nice shape...probably could get 500 for those alone...

 

[mc5aw]

I most enjoyed her shrapnel comment.

 

[deadin]

The grips were in real nice shape...probably could get 500 for those alone

Sip, Watch the very beginning again. the right grip panel is missing the whole bottom section all the way up to the index pin......