Hello fellow forum members. I have lamented over this for several months and unfortunately there is no way around it. The best part of my Smith & Wesson collection has to be sold. I would like your opinions on the best way to go about it. Obviously, I want to get the best price for my revolvers, which I have collected for years, with the least amount of hassle. The revolvers are not P&R guns, but they are all pre-lock models. I was thinking of giving forum members first shot at these guns, but I have noticed that gun auction websites have been bringing in big dollars lately. When you have to sell things that you really don't want to, you obviously want to get the most for them that you can. It takes the smallest amount of sting out of it. Where I reside, there really isn't a big population of Smith collectors. So, I don't think local sales listings, or a local auction really aren't the best choices. I was hoping to get some feedback on whether to list them on the forum, list them on an auction website myself, use a broker to list them for a percentage of the sale price (consignment) or attempt to sell them at a gun show. I would be interested in hearing what you have to say about selling Smith & Wesson revolvers in the current sales market. Thanks for your opinions.
Reluctantly Have To Sell My Smith Collection
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billdeserthills
Member
I'm sure everyone on the forum would love to have first crack at your collection
Any firearms I've listed here have sold quickly and at really fair prices, including even a 45-70 Trapdoor. Be prepared to take and send lots of pics.
If you don't have a local shop you could deal with for reasonable consignment fees, then personally I would post them here for fair to you prices plus the shipping / transfer costs. I think sellers in the classifieds here do very well with little issues.
Personally I think it's how much time you want to spend divesting yourself of your collection. Sometimes people just want to be rid of it and return on your investment isn't a consideration. But maybe it is. I think a lot of this has to do with what you've collected. List the collection here and I think people with more knowledge than I can give you good advice.
If you're in SEPA, I can advise a shop who will post them on GB. I used them last year and will again next week. Ridiculously easy.
Think about it. He's had a successful storefront for decades. His online presence is in the thousands. He accepts credit card from the buyers. All of that adds up to top dollar for your guns. He charges 15%. When you think about the time/effort to take pictures, list guns, etc., plus the extra 5-10% I believe with what a respected online dealer yields in sale price, it's an easy decision. He told me when he would list them and that I'd be paid 10 days after they received payment, or I could wait for a single check, which I did.
Forum members here are the likely a very good route and I would love to see them have a shot. Maybe start with a few and see how it goes, but it could be more work than you might be willing to endure.
Sorry you have to sell. Not crazy about it myself, but that's how it goes I guess.
Think about it. He's had a successful storefront for decades. His online presence is in the thousands. He accepts credit card from the buyers. All of that adds up to top dollar for your guns. He charges 15%. When you think about the time/effort to take pictures, list guns, etc., plus the extra 5-10% I believe with what a respected online dealer yields in sale price, it's an easy decision. He told me when he would list them and that I'd be paid 10 days after they received payment, or I could wait for a single check, which I did.
Forum members here are the likely a very good route and I would love to see them have a shot. Maybe start with a few and see how it goes, but it could be more work than you might be willing to endure.
Sorry you have to sell. Not crazy about it myself, but that's how it goes I guess.
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sigp220.45
US Veteran
The problem with listing them here is its not an auction. You set a price and once someone meets it, thats it.
I'd find a way to list them on GB. Its not that hard to list them yourself once you get the hang of posting photos and find a dealer who will ship them USPS Priority Mail.
It sucks you have to do it. I've been there myself. But if you're going to do it, get the most dough you can. That means an auction of some kind.
I'd find a way to list them on GB. Its not that hard to list them yourself once you get the hang of posting photos and find a dealer who will ship them USPS Priority Mail.
It sucks you have to do it. I've been there myself. But if you're going to do it, get the most dough you can. That means an auction of some kind.
sigp220.45
US Veteran
Now thats a dealer!
Very sorry to hear this. I had to do this several years ago myself. Around 14 revolvers and a few rifles. I know your pain but we do what we must do. I did use GB. It was kind of like a full time job until they were all sold. But probably the best way to get the most money. I think Joseywales may have a very good option if it's close enough to you. I do hope everything works out for you.
My local guy charges a straight 15% on consignments. He takes pics and puts them on Armslist. Works well for me.
I bet I know that shop!
I don't know how many guns the OP is selling but you could always do a test run of 3-5 guns and see how you like the shop.
If you have single guns valued over $1000.00 I would lean toward auction.
I have 3 I'm thinking about selling. I know they'd go fast here, but last time I shipped one my FFL charged me $75.
I think it would add too much to the price.
I think it would add too much to the price.
Timely thread as I'm in the position of needing to thin the herd greatly to lighten the load of moving out of California. I've been an accumulator for over 30 years... too much to pack up and relocate, plus my interest has been waning in recent years. Will be watching what kind of suggestions/ advice are being tendered....
Good suggestions by other folks I still lean towards selling here. If you price them fairly to both parties I bet they will sell quick. Not knowing what you have and what you paid I'm sure you will still do well in todays market. This hinges on having a dealer to do the transfer and shipping for you - the cost of which you pass on to the buyer and include in the price. I have done that and it has worked well - my dealer charges me a $35 fee and actual shipping with insurance which comes out to about $25. Round up those costs just a little to cover any contingencies.
Or for a start try just a couple here and a couple on Gunbroker or on consignment at a dealer and wherever it goes well for you list the rest.
Or for a start try just a couple here and a couple on Gunbroker or on consignment at a dealer and wherever it goes well for you list the rest.
An auction will most likely bring you the most money. It's not that hard to use one of the online auction sites or find someone to do it for you. Many will try to talk you out of the online auction route, but with good descriptions and photos, you'll realize top dollar. You may very well end up shorting yourself just listing them for sale on a forum. Start at a price that won't make you cry, and let them go.
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If you go to an internet auction, make sure you understand all of the fees and commissions involved. Often those fees are substantial, especially on the big gun auction sites.
That being said, my experience with Hindman Auctions/Cowan Auctions on moving firearms for another organization (Contemporary Longrifle Association) has been very positive.
That being said, my experience with Hindman Auctions/Cowan Auctions on moving firearms for another organization (Contemporary Longrifle Association) has been very positive.
I have gradually been doing this for about the past two years. I have found that a "trusted" on line auction, where your potential audience is the entire country. The one I use charges me 15% and takes care of all packaging, shipping FFL, etc problems. To me it has been worth it and in several cases has resulted in a price far above what I would have priced the gun at. You never know when two collectors are bidding against each other, (especially if alcohol might be involved).
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CAJUNLAWYER
Member
May I be so bold as to suggest the owner of this forum??? Lee has a big presence on GB. Get with him and see what he charges, etc. You might be surprised.He starts his auctions off at a penny with no reserve and sems to get some good prices. When I get around to selling off a bunch that is the way I will do it. Selling a guncollection would be a royal PITA from the sellers perspective and the fee charged would more than pay for the lost time and aggravation and would probably net you more than if you tried to do it yourself.
41 mag Dave
Member
I have had several friends use Rock Island Auction Co. They all have been amazed with the professionalism and the dollars realized.
quietman123
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I typically use GB. I have a friend on the Colt Forum that uses Legacy Collectibles which offers two options:
1. They make you an offer
2. They consign it on their website
My friend is very pleased with this company.
1. They make you an offer
2. They consign it on their website
My friend is very pleased with this company.
One has to be prepared to absorb the fees. Just the cost of doing business.
You can't necessarily say that you have a $1000 gun, and you want to net $1000 after the sale.
Dealers in my part of the world, want $60 minimum for a handgun transfer, including my LGS. He also now wants 25% for guns placed on consignment.
I suppose with less new gun availability during Covid, he wants to make it up somewhere else.
That often means guns that sit there a while, as too many consignees think they deserve full retail for themselves, even if they're doing none of the work.
The $1000 gun becomes a $1300 gun in the show case.
Of course, some folks just want the guns gone, and some want as much as they can get. It boils down to how much personal effort you want to expend, and what your time frame is for getting your hands on some loot.
Be realistic in valuations. Good photos sell guns, more than the words, though sellers who won't describe a gun very much at all, and say rely on their less than great photos for the condition, send me the other way.
I can feel your pain. Been there, done that. It's all good if the funds go to a greater or more necessary purpose. It's just "stuff".
You can't necessarily say that you have a $1000 gun, and you want to net $1000 after the sale.
Dealers in my part of the world, want $60 minimum for a handgun transfer, including my LGS. He also now wants 25% for guns placed on consignment.
I suppose with less new gun availability during Covid, he wants to make it up somewhere else.
That often means guns that sit there a while, as too many consignees think they deserve full retail for themselves, even if they're doing none of the work.
The $1000 gun becomes a $1300 gun in the show case.
Of course, some folks just want the guns gone, and some want as much as they can get. It boils down to how much personal effort you want to expend, and what your time frame is for getting your hands on some loot.
Be realistic in valuations. Good photos sell guns, more than the words, though sellers who won't describe a gun very much at all, and say rely on their less than great photos for the condition, send me the other way.
I can feel your pain. Been there, done that. It's all good if the funds go to a greater or more necessary purpose. It's just "stuff".
By the time You auction them and pay the fees, shipping, insurance, I think You could do just as good here. Take Your fair price and add shipping and ins and list the gun as $XXXX including shipping. You'll get a fair price and the S&W fans here get a shot at what they want. Fair to You, fair to Us.
If you are in the western part of the state there is a company located south of New Castle that a buddy of mine has had great success in listing and selling guns for him on Gun Broker...... do great descriptions and photos.
You can take your stuff to them and they do the rest. If you're interested PM me and I'll call him and get the name.
/Been thinking about listing my Reg Magnum with them.
You can take your stuff to them and they do the rest. If you're interested PM me and I'll call him and get the name.
/Been thinking about listing my Reg Magnum with them.
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Well, they knew how happy the Mrs would be. Very astute dealer indeed!
winchester62
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UPS and FedEx won't allow a non FFL to ship guns to an FFL anymore. They've caved to the administration. This makes selling guns a lot harder. Hate to say it, but this isn't the best time to sell a load of guns. All by design unfortunately. I'd try to find a dealer that would ship for a reasonable fee and use GunBroker. Fees and all...
357 shooter
Member
I decided to sell six guns in the summer of 2021 one of which was a Smith 357. I had them sold through a top gunbroker seller. Five of the 6 guns even after consignment sold for far more then I could have ever got locally. Selling a 357 revolver in Indiana is like trying to unload a dead raccoon.
The Smith was a 586-8 4" probably the least collectable or valuable of the dash series and still got almost a grand for it after consignment. I would have been happy just to break even. Locally I would have been lucky to get half that. I did extremely well with a couple of Marlin lever actions.
Now this was during a time when guns were harder to get. But the next time I sell a group of guns I'll likely do the same.
The Smith was a 586-8 4" probably the least collectable or valuable of the dash series and still got almost a grand for it after consignment. I would have been happy just to break even. Locally I would have been lucky to get half that. I did extremely well with a couple of Marlin lever actions.
Now this was during a time when guns were harder to get. But the next time I sell a group of guns I'll likely do the same.
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Even before the new rules I found going through my local FFL who charged $25 plus actual USPS priority mail shipping costs was about half what it would have cost to ship a handgun directly through UPS. Much more convenient too. That was a few years ago, my FFL raised his fee to $30 recently.
One other thing that will make selling guns more difficult is the IRS going after people selling anything and not reporting the income. This will have the biggest effect on people using something like PayPal or Venmo which cannot be used when selling guns but they originally wanted to require banks to report all deposits over $600 that were not a direct deposit from an employer. The IRS backed down from that but reminded everyone that by law they are required to enforce the tax code and given a lot of leeway in how they do it.
I have been thinking it is time to thin the herd again. This time going through a dealer that sells on consignment will be my first choice but I am not selling by necessity and am willing to accept less money in exchange for not having to deal with all the GunBroker hassles.
I don't think income from selling some safe queens on consignment will be reported as income but plan to keep records on the cost basis of everything I sell. If they do report it I always end up losing money overall so it will be a deduction, not income.
gkitch
Member
I have found this forum the best way to sell something with the least hassle short of a local sale. GB is a great deal more trouble (and the only way to do it is to start at a dollar and let the momentum of the auction take its course).
The GB money looks great until you subtract around 15% or so. You pocket about $850 on a $1000 sale that was a great deal of trouble. Just selling it locally or on this forum for $850-900 would have been better for you and the buyer.
Do not forget gun shows. Rent one table at a show and you will move most of your guns for cash by Sunday afternoon if you have priced them fairly.
The GB money looks great until you subtract around 15% or so. You pocket about $850 on a $1000 sale that was a great deal of trouble. Just selling it locally or on this forum for $850-900 would have been better for you and the buyer.
Do not forget gun shows. Rent one table at a show and you will move most of your guns for cash by Sunday afternoon if you have priced them fairly.
From a "buying" perspective, I have more successful transactions over the last several years here on the Forum. As for selling, my choice would be here on the Forum.
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