Selling to a dealer

[Brian41]

I may have to make quick sales of some of my gun collection and selling to individuals in Michigan is difficult especially handguns.
What can I expect from a dealer, maybe 45 or 50% of retail value? The dealer in question is Williams Gun Sight and have never sold guns to them before. I did sell some Colts to another dealer when my dog was in the hospital and racking up the bills. He wasn't too bad but do regret what I got on an Anaconda just before their prices went through the roof.
Do you think a dealer would negotiate should you think it a low ball offer?
I'd sell some here in classified or auction sites but may not have the chance to do so.

 

[Arik]

All dealers are different. The ones I go to usually use gunbroker as a guide to how much they can sell for. After that it's up to them on how much mark up they want. My one lgs offers $100 less than they will sell for in the store. So if they will put it out for $500 they offer you $400. That's for an outright sale. If you trade it's $75 difference. Now this is just a rule of thumb because all guns are different. If it's an unpopular gun or one they assume will sit for a long time then of course the price changes

 

[MH8675309]

Try and sell private - the dealer is going to offer less so he can make money on it. That doesn't make him a bad guy but hes not your best prospect. Talk it around - you might be surprised what some of the people you know might be willing to spend on your guns. Good luck

 

[TucsonMTB]

Try and sell private - the dealer is going to offer less so he can make money on it. That doesn't make him a bad guy but hes not your best prospect. Talk it around - you might be surprised what some of the people you know might be willing to spend on your guns. Good luck

I have to agree with Mr. MH8675309. We are fortunate to have a local forum that has helped me both acquire and sell some pretty nice handguns.

It certainly never hurts to post it here on this forum. You can always indicate that a local sale is preferred and specify a location that makes it possible for local people to figure out how much travel is involved for them. Do it now with some good pictures and it may be gone by tomorrow.

On the other hand, it never hurts to ask you favorite local shop what they would give you for it. We have one shop not too far from me that is very fair in their pricing. But, I suspect that is only because it is easy to sell firearms privately here in Arizona.

Best of luck!

 

[e3mrk]

I was going to sell a Pistol to a Dealer that was worht about $600.00 and the highest He would go was $150.00 so that pretty much made up My Mind to avoid Dealers if I can.

 

[cougar14]

Is consignment an option? My LGS charges 20%, but that could be negotiated, especially if it's popular and pricey on Gunbroker.

 

[pharmer]

Guns are a commodity and dealers treat them as such. If you drop a bunch onto the local market price goes down. If you're forced to utilize an FFL, try to find one that will take a set fee to transfer them to individuals. You do the selling. Good luck. Joe

 

[Jack Flash]

I agree that a LGS will probably offer only 25% (at best) of what the gun will retail for. Think about it: if you sell ONE gun here on the Forum Classifieds, it's like selling FOUR to your dealer!

My LGS charges 20% to sell a gun on consignment. He does not have to invest anything in it so you get 80% of what he can sell it for. There is a big drawback however. Horror stories have been posted on this site about consignment guns that suddenly came up missing. And nobody don't know nuttin' about it! In a case like that, you would really not want to be the one left holding the bag!

All dealers are different and many are very honest. But you need to be sure who you are dealing with.

 

[R. G. Amos]

The only reason to sell to a dealer for his resale is the convenience for the seller. The dealers with whom I have dealt over the years usually offer about 50% of Blue Book value.

 

[Dominus_Lex]

There are plenty of folks on this forum from MI, OH, and IN, and many folks don't mind paying FFL charges for shipping. What have you got to loose by posting some photos and listing some prices?

 

[old bear]

Brian, sorry you may have to sell part of the collection. As most have suggested using a retailer should be your last option. At best you may receive 50% of the actual value. Try the classifieds here at the forum. If your $$ needs are short term, would pawing them be an option?

Best of luck whatever you do.

 

[glowe]

My opinion is that it is not difficult to sell handguns in Michigan. First, you can advertise and sell within Michigan or any other state where it is legal to own handguns. If selling out-of-state, you must send the handgun to an FFL. If selling in-state, the buyer needs to complete a Pistol Sales Record and the buyer is required to obtain an FFL for you to release the handgun to, so a legal transfer can be made to the buyer.

If the buyer has a Concealed Pistol License or an FFL, they can take direct ownership of the handgun with the completion of the Pistol Sales Record.

 

[b_san]

Wait what? Pistol sales record, what kind of nonsense is that, you mean you can't just do a private party sale? Are you MI guys working on getting rid of that? I assume you can still send the gun to an out of state FFL yourself though right?

 

[-db-]

First time I've ever heard it's difficult to sell guns in Michigan.

If selling in-state, the buyer needs to complete a Pistol Sales Record and the buyer is required to obtain an FFL for you to release the handgun to, so a legal transfer can be made to the buyer.

It should be mentioned that no FFL need be involved at all in an in-state face-to-face pistol transaction in MI. In such cases, all that is required is the buyer's License to Purchase AKA "purchase permit" (or a Pistol Sales Record for CPL/FFL holders). Of course, face-to-face long gun transactions require no license/law enforcement involvement.

 

[-db-]

Wait what? Pistol sales record, what kind of nonsense is that, you mean you can't just do a private party sale?

MI State Police get a record of every pistol sale/transaction in MI.

I assume you can still send the gun to an out of state FFL yourself though right?

Yes, if the receiving FFL will accept the gun from a non-FFL. Some will not, however.

 

[2152hq]

Most FFL dealers w/a shop will offer 50% of what they will place the gun back out on the shelf. Not all,,but that's a fairly good rule.
Like it or not, they have to make the investment, wait for the sale and pay bills in the mean time.

Consignments are usually 20% or 25% on a single item,,but it can vary up and down. It's sometimes negotiable and can be quite a bit less when multiple items are involved.

Take note that placing a firearm on consignment with an FFL transferes ownership of the firearm to that FFL (as far as BATF regulations are concerned).
If the gun does not sell, or you decide to retrieve it before it sells at that dealers for what ever reason,,the FFL will have to do a 4473 and NICS check to return the gun to you.
On paper, the gun is going through a transfer of ownership once again. There may be transfer fees involved that you'll have to pay.
Find out if the shops insurance covers loss and/or damage on consignment items.
Ask how payment is forwarded to you in the event of a consignment sale. Some shops I know of pay in 90 day after the sale! so they can use your money to buy & sell in the mean time.
Some small shops/dealers call you and tell you to come pick up your money,,some send a check at the end of the month. It's nice to know ahead of time and not be surprised.

I know nothing of Michigan gun laws and their FTF sales policys.
You can sell as an unlicensed (no FFL) individual on the internet disposing of your personal firearms. Sales and transfers must be shipped to an FFL in other States of course. State laws must be followed in other locals and they can be confusing at times but not impossible. An FFL at the other end is receiving the gun, so they will be making the actual transfer to the non-FFL.

Verify with a copy of their license or FFL# thru BATF-EZ check (you can't do the C&R FFL thru that so I'd want a copy).

Shipping can be a hassle,,but with a copy of the buyers FFL, even the PO can be sweet talked into taking long guns, just as their regs say they will.
Handguns have to go thru a dealer. A friendly FFL can save time and headaches usually if they'll ship everything for you.
You do the packing and pay the fees and bring donuts usually works.
Good luck with your sales,,

 

[rwsmith]

They hope.....

I was going to sell a Pistol to a Dealer that was worht about $600.00 and the highest He would go was $150.00 so that pretty much made up My Mind to avoid Dealers if I can.

They figure anybody that would sell a good gun needs the money bad, often they are right.

 

[glowe]

First time I've ever heard it's difficult to sell guns in Michigan. It should be mentioned that no FFL need be involved at all in an in-state face-to-face pistol transaction in MI. In such cases, all that is required is the buyer's License to Purchase AKA "purchase permit" (or a Pistol Sales Record for CPL/FFL holders). Of course, face-to-face long gun transactions require no license/law enforcement involvement.

Instructions for the Feb 2013 form are pretty simple, but for a direct transfer, either the seller or buyer must have an FFL (or C&R), or the buyer has to have a CPL recorded on the Pistol Sales Record.

(1) NICS Transaction Number
- To be completed if the seller is an FFL dealer

(2) *Seller's FFL Number
- To be completed if the seller is an FFL dealer

(3) *Purchaser's Michigan CPL Number
- To be completed if the purchaser is a CPL holder

(4) *Purchaser's FFL Number
- To be completed if the purchaser is an FFL dealer

At least one of the fields marked by an (*) asterisk above MUST be completed. If none apply, the buyer must find an FFL to transfer the handgun.

Michigan has made some small, but significant steps in the right direction, but has a ways to go. At one time, you had to bring your handgun to local law enforcement for a "safety" check and it cost $5. If you bought a parts gun, it would have been illegal to own, since it would not pass a safety inspection. Also, when Michigan adopted a "shall issue" CPL, it eliminated the NICS check for Concealed Carry gun buyers. The CPL also makes it legal to purchase a handgun without the involvement of an FFL.

 

[Dennis The B]

I've done business with Williams Gun Sight in the past. They require you to go the office, where an appraiser will assess your gun, then make you a written offer. You can then ask them to issue you a check, or you can take the offer to the gun shop and use it as a trade-in amount.

I've traded several guns with them, and they offer an amount which is usually between 60% and 70% of what they'll have in the gun for resale. I had a Model 29-2, nickel, 4" model, that had been Magnaported. They actually added to the value of the gun, according to Williams. Most collectors would make Magnaporting a deduct.

I never expect much over 60% for any used gun. They're in the business of turning over their inventory as quickly as possible. It seems their operating margins are probably less than "mom and pop", since they're a volume dealer.

 

[bearman49709]

Instructions for the Feb 2013 form are pretty simple, but for a direct transfer, either the seller or buyer must have an FFL (or C&R), or the buyer has to have a CPL recorded on the Pistol Sales Record.

(1) NICS Transaction Number
- To be completed if the seller is an FFL dealer

(2) *Seller's FFL Number
- To be completed if the seller is an FFL dealer

(3) *Purchaser's Michigan CPL Number
- To be completed if the purchaser is a CPL holder

(4) *Purchaser's FFL Number
- To be completed if the purchaser is an FFL dealer

At least one of the fields marked by an (*) asterisk above MUST be completed. If none apply, the buyer must find an FFL to transfer the handgun.

Michigan has made some small, but significant steps in the right direction, but has a ways to go. At one time, you had to bring your handgun to local law enforcement for a "safety" check and it cost $5. If you bought a parts gun, it would have been illegal to own, since it would not pass a safety inspection. Also, when Michigan adopted a "shall issue" CPL, it eliminated the NICS check for Concealed Carry gun buyers. The CPL also makes it legal to purchase a handgun without the involvement of an FFL.

What you don't understand is that form is for FFL and CPL only! If you have neither you go to the PD or SO and get a purchase permit to buy FTF with no need to go to a FFL!

$5.00 for a safety inspection? I went to two different PD in one county and a SO in a different county and never had to pay anything!

A safety inspection was not to check if a gun was safe, most of the clerks and LEO are not gunsmiths, it was to check if they where "Saturday night specials".
Parts guns passed the inspection all the time they don't care if they work or not!