Questions/answers regarding prices and value

[MP1518]

I see many members ( including me) ask opinions and questions regarding value/pricing of firearms they are looking to buy or to sell.

Are we talking about GB (ended auction) prices? LGS retail prices? Gun Show prices? "Guy needs money to pay rent" prices ? Replacement value? Or what?

Just wondering

 

[jlrhiner]

There is only so much value in an item, guns being no different. If the question is asked "How much is this worth?" there are usually two answers. All the value in something is the price an individual motivated buyer will pay for it. Or value to replace it if stolen. The other price is what someone will give you who is going to resell it. Many times around 30% of first value.

Most often we will give you the first price. This is usually based off of recent sales, condition, rarity and want.

 

[redlevel]

I usually use several criteria when offering this kind of advice. First, if I have recently bought a gun like the one being discussed, second, about what I would be willing to pay for such a gun, third, what I have seen such a gun sell for on various s&s boards, fourth, what my local store is asking for a similar gun. I do not buy or sell on GB or any other auction sights, so I don't use those figures.

 

[H Richard]

It is my understanding when someone asks "What is this worth?", the answer is the current market value. Anything of "value" has three value's, Wholesale bottom line quick sale value, current market value (what you should be able to negotiate down to for a sale), and Appraised value, what you would insure the item for in order to replace it in the future of stolen, etc.

 

[MP1518]

example.

I recently asked an opinion on an incorrect 1955 pre model 27 .

I got 400-500 range from most people.

Does that mean I should be able to walk into a LGS and be able to buy a revolver like that for 400-500.00?

Or does that mean that a motivated seller make take for it?

Another example was my friends pre lock/mim early model 64 three inch HB 99% no box and with combat factory grips.. He paid 600.00 otd for it.

Many people I know said it was too much for that gun .

Too much compared to what ????? I cant find a 99% ,no box , three inch 64 with original factory combat gips for sale at any price...

 

[RightArm]

If it's the only one you can find and are willing to pay that price, I would call that fair market value. I wouldn't ask anyone else if it is a good price.

 

[MP1518]

If it's the only one you can find and are willing to pay that price, I would call that fair market value. I wouldn't ask anyone else if it is a good price.

I agree....

I think fair market value is what it would take for person who wants a specific fiream to FIND it and to buy it.

I have been looking for a minty,lightly fired (no box) model 18 .
Found one and bought it yesterday for a total of 500.00

To ME its worth every dime I paid.

It took me a lond time to find the right gun at a right (to me) price.

I also agree with people who say that it makes a big difference where You live.

 

[fat tom]

You did good. That is below what most are selling for these days. Which variation is it?
f.t.

 

[MP1518]

You did good. That is below what most are selling for these days. Which variation is it?
f.t.

Its an 18-3 . Looks like fired few times. Hardly any line on the cylinder at all.

 

[freddy137]

There seems to be a lot of talk about collectors value that just never seems to materialize. Unless you have a sure enough valid collector group to support the specific model it is just a gun with a subjective value on top of the blue book price. Every time I see a gun that someone wants more for than the book it is explained to me that it is a collectors item. And after a few times of believing that when I was younger and trusting I figured it out. The collectors are mostly in the imagination of the seller and transfer to the "wanting" buyer. If every gun I've owned over the years had been worth what it was speculated(by the seller) to be worth and I had sold a few of them I wouldn't need to work anymore.
Seriously, I have a couple of maybe a few of the so called collectables (Pythons, Pre 39 S&W, FOX shotgun ect,) but they are only worth what I can get for them, and it never seem to be close to the prices that all the Pro's and forums claim. So if you aren't going to turn it over for a profit or can't get that elusive price it's just another gun and maybe a family heirloom. and I'd lots rather leave a nice re-blued or refinished gun to my kid's than a so-called collectors gun that they either wont enjoy for fear of killing the value or get rid of and then some shankster will enjoy my labors.

 

[Moe W]

Some other random thoughts about this

As an example of my thinking....I recently bid on a LNIB Model 64 early model made in 1973 with very nice box, papers, tools, etc. I asked on this forum about what it should be worth. Only one person posted a reply saying around $400-450. Well, if you buy this gun new from factory the MSRP is close to $600 with the MIM, Lock, no pinned barrel etc. I ended up winning the bid by paying $560 for it. My theory is...that if a brand new one is supposed to be close to $600 then a like new used one with box and papers, etc should be worth about as much because of the 40 years older and higher manufacturing standards/quality plus the fact that there is at least a tiny bit of "collectability" so-called because of the age. So, I think I paid a fair price for the gun and I am happy with it. Plus, someone else out there wanted it badly enough to bid $555 for it. If I want a gun and I have the money and I do not think I am going to find the exact same high-quality item in the near future than I buy it. As someone pointed out above, if I am happy with the gun and price than that is what is important.....not what someone else thinks I should pay.

 

[MP1518]

Also what makes a huge difference in my book is how AVAILABLE the gun is. I have been looking for a clean 3 inch pre lock 686 6 shot that is NOT a cs-1. Just a std production revolver. Still have not found one for sale. What is it worth? Great questiion. To me anything under 700.00 would feel like I am getting it for free. Some else may say 500.00 is an ok price for it...

 

[5Wire]

I use completed auction prices from two or three auction sites, classified adds on forums using notifications to confirm selling price, classified ads on some sites, local label prices, all 'when I get around to it'. Record the prices, use Excel to chart trends. Sometime publish results on this and other forums.

But I basically agree with Rightarm, "If it's the only one you can find and are willing to pay that price, I would call that fair market value. I wouldn't ask anyone else if it is a good price." Most times the difference in good prices and too much is no more than a few boxes of ammo.

 

[Frank237]

I'll occasionally give some input as to pricing if I've recently bought a similar item, have been REALLY watching that or a similar item on the auctions...so have current knowledge, etc.

A tangent on this, that was recently discussed among four of us at the recent SWCA meeting; What about the posters who will constantly post a LOWBALL price when they reply to a "Whats this worth" thread.

We all noted that several of these guys were "surprisingly" in the business of buying and selling. Hmmmmm.

FN in MT