Used guns

[gunrunner1]

This may be a redundant topic but since I'm new here I'm going to bring it up. It's my "rant" topic of choice.

I understand that parting with a gun of any sort can be a traumatic time for most of us. It hurts me to my soul sometimes. But, I hate that when I look at gunbroker or armslist and see someone pricing a gun for hundreds of dollars more than what it costs brand new at a retail store! When I sell a gun, I look at what they are ACTUALLY selling for on gunbroker, then I do a search and see what other people have paid for them, lastly I look at a gun values book. I then determine the condition and price it accordingly.
For example, I recently acquired a colt lawman 2" that is about 95% with original colt box and paperwork. He first told me that 800 seemed fair. Mind you, BNIB is somewhere around 473.00. He looked the gun up on gunbroker and saw people were listing it for 800 to 1000.... Not one of them was selling! The ones for 400 to 550 WERE selling. That is my guideline. I reasoned with him and got it in the neiborhood of 350.
So why do people feel that there guns are some rare exception to the rules? Is it there subconscious saying they don't actually want to sell it? I wish I knew but would love to hear your thoughts on the matter.

 

[allglock]

You know... There will always be someone who will pay a premium, on any gun.... It just takes the right buyer, and it may take a long time.
Sellers that charge a premium, usually have all the time in the world to sell it....
I cant stand it when people want something for nothing... That is more of a beef for me..
Just the other day, a guy on the Pa. gun forum was selling a nice model 66 for $350. I PMd him and told him he could get more for it. He said he needed the money ASAP. So I guess there is a reason for everything.
P.S. I know I have paid a premium, on guns that I really wanted, at one time or another.

 

[Iggy]

I think some of them fellers operate under two assumptions.

A fool and his money are soon parted, and there's a sucker born every minute.

Let's see if we can hook one.

 

[BCDWYO]

I've bought and sold a number of guns on Gunbroker and on this forum. In general when I sell I try to set the price to what is fair. I've sold several by penny auctions, so that the market truly sets the price. On the other hand, as a buyer, I've been guilty in the past of getting my heart set on a particular model with certain features and probably overpaid because I lacked patience. If I were to sell those guns, I'd probably want to try to get close to what I paid for them, so in those cases I might over-price them slightly (and unless I was lucky, they would probably sit for quite a while!) Obviously it all comes down to supply and demand, and sometimes luck.

 

[BCDWYO]

I think some of them fellers operate under two assumptions.

A fool and his money are soon parted, and there's a sucker born every minute.

Let's see if we can hook one.

Hey Iggy...I RESEMBLE that remark!! LOL...actually I think I've gotten a bit more disciplined when it comes to waiting for a reasonable deal, but I know I've overpaid at times.

 

[gunrunner1]

Very valid points everyone. It does bug me when people offer you way less than what a gun could go for. In a sense they are saying your an idiot and don't know any better. That could upset me just as much as someone overcharging. I guess my beef if for the people who live in denial. For example, how many h&r single shot 12 gauges have you seen than can fetch more than 125 on a good day? Yet people list them for upwards of 200! It boggles my mind.

 

[otis24]

Same thing happens in the car business. Had a guy that wanted to trade in a camper on a new vehicle. I had a nearby camper dealer who sold that brand of camper on speaker phone. He stated that retail value, in excellent shape was $5k. This guy kept insisting that his was worth $10k "because its in good shape".

Or people see cars like theirs "selling" for $x (the price that the dealer has the marked for resale). I have to explain that this is RETAIL price, firstly. Secondly, most people aren't just going to come in a pay that price ("Gee Mr. Customer, you don't want to pay me retail for my brand new one. What makes you think someone will pay retail for your beat up used one"). Lastly, if I did give your retail price for yours, yours isn't worth $x. You see Mr. Customer, retail price is for "excellent shape". We have to deduct the price for a new windsheild (see that big crack running across yours). We also have to deduct the price for the new set of tires that it needs. Then there is the clean up, detail and upholstery work.

 

[ischia]

Adding to Iggy's comment: "a fool and his money are soon married"

Ischia

 

[bigmoose]

What really irks me is the gun show dealer with the smug look on his face trying to sell me a box of 9mm Federal ammo for $18. The same exact box is $9.97 at my local Walmart. He assumes I am an idiot. I won't consider buying anything on his table. You lost a customer, buddy.

If you want knowledgeable folks with money in their pockets (and are more than willing to make a fair deal with you) to be your customers, treat them with just a little bit of respect. The quality and quantity of your client base says a lot about your business practices.

 

[jdad]

Why do they do it? Because they believe in the old used car salesman adage......"there's a butt, for every seat, no matter the price..."

 

[jimmyj]

Jimmy's method of dealing:
If I am selling, my stuff is common and almost worthless and the buyer is doing me a great favor by taking it off my hands.

If I am buying, what I am buying is rare, valuable, and in most cases, a collector's item. The seller is only selling it to me because he likes me a whole lot.

P.S. I am very popular at Gun Shows.

 

[sodacan]

The beauty of a free market is that it allows us to buy or sell as we please. You are taking this way too personally.

 

[vipermd]

Jimmy J: I have a one of a kind revolver for sale call me!!! LOL I have bought on this forum and bought and sold on GB,AA,GA and it is difficult to understand what a seller/buyer is thinking. Many times people add personal attachment to the price, or they bought it at high retail+ tax and expect to sell for at least what they paid if not more. The area of the country is also important- a ruger p-85 in 9mm is a paperweight!! Have I paid to much of course, but now I have my ( " twin-barreled, 46.8 cal super blaster, with 1K rd mag, trimmed in silver and gold, that never misses). Be Safe,

 

[Ashlander]

Sodacan has a good point -- it's nothing personal if somebody gives you a lowball offer -- just say "no thank you." I might lowball if I really did not need or want the gun (but it looked nice) -- it's worth only so much under those conditions -- if the seller is happy with my lowball offer, then I am happy to buy a gun for which I have limited use. Actually, in those circumstances I am surprised if I don't get a "no" -- I have a nice Ruger P95 that I absolutely don't need only because the Seller said "OK since it's you." That one was hard to explain to the wife.

The flip side is I might offer a premium to get that 3" inch k-frame magnum -- as would a lot of us.

And in none of this are we taking food out of a child's mouth (I hope) -- we are all big boys selling and trading our toys. Being on the short end of a deal every once in a while is not the end of the world (especially if you need to money now) -- it all evens out over the long haul anyway.

Enough of that....

 

[amazingflapjack]

Rules?

I'm with soda can and bcd on this one. The only rule I know is "buyer beware." I sure can't expect folks to sell me something based on what my research, or whatever, has turned up. Model 610's, and just about abything with a three inch barrel are good examples of this right now. You can calculate all day long, but if you're gonna buy one, you're gonna probably pay a premium for it; even a holer in the case of the 610. The most someone will pay, weighted against the least the seller will accept, is the definition of market value I like best. Flapjack.

 

[otis24]

Part of it is a customer problem as well (at least looking at it from the automobile sales standpoint). No matter what you price an item, the buyers first words are "Thats too much! Will you take $x?".

I firmly believe that I could price a $50k pickup at $30k, and 90% of the buyers would say, would you take $20k for it. As a matter of fact, a co-worker priced a new pickup to a buyer at $5k below our COST, just to see if he was serious. This gentleman had been shopping around. Think he jumped on the deal? Nope. His response was "Well, that still sounds a little high. Knock off another $500 and I might think about it". Perhaps too many of the sellers have experienced this kind of customer and have overpriced their merchandise in anticipation of the guy who is looking for something for nothing. As a salesman, I would ask my customer what their budget was. Too often, it was the $10k-$12k range. But they were continually looking at cars in the $18k-$20k range. Often, I was polite but blunt and asked the customer what they were trying to accomplish. My conversation went like this "$10k will buy you a $10k car. We have those available. If you are trying to buy a $20k car for $10k, I won't be able to help you today.". The key to success is realistic expectations on both the part of the buyer AND the seller.

 

[gunrunner1]

The beauty of a free market is that it allows us to buy or sell as we please. You are taking this way too personally.

I agree the free market is beautiful, but when one idiot thinks his colt python is worth 3500, Then everyone else thinks theirs is worth that much. Then it's hard to find a gun that's at fair market value. That's what chaps my rear. It's price gouging IMHO

 

[larry8]

The way I think about buying an item is that the seller (a) doesn't want that item any longer, (b) the seller needs money so he put the item up for sale. In either case the seller should be open for an offer at slightly below retail if he wants to get rid of that item. So I make offers at 25-30% lower than retail. Then bargain to a mutually agreed upon price. We both walk away happy.

 

[otis24]

At the gun shows I've attended, I see the same vendors over and over. Every time, they pretty much have the same overpriced items year after year. From what I've witnessed, they can't be having too much success. I don't know how they can afford to do it, or why they would want to. I guess that's why they call them gun SHOWS!

 

[BCDWYO]

Part of it is a customer problem as well (at least looking at it from the automobile sales standpoint). No matter what you price an item, the buyers first words are "Thats too much! Will you take $x?".

I firmly believe that I could price a $50k pickup at $30k, and 90% of the buyers would say, would you take $20k for it. As a matter of fact, a co-worker priced a new pickup to a buyer at $5k below our COST, just to see if he was serious. This gentleman had been shopping around. Think he jumped on the deal? Nope. His response was "Well, that still sounds a little high. Knock off another $500 and I might think about it". Perhaps too many of the sellers have experienced this kind of customer and have overpriced their merchandise in anticipation of the guy who is looking for something for nothing. As a salesman, I would ask my customer what their budget was. Too often, it was the $10k-$12k range. But they were continually looking at cars in the $18k-$20k range. Often, I was polite but blunt and asked the customer what they were trying to accomplish. My conversation went like this "$10k will buy you a $10k car. We have those available. If you are trying to buy a $20k car for $10k, I won't be able to help you today.". The key to success is realistic expectations on both the part of the buyer AND the seller.

Excellent points Otis...I think relating to guns this is especially true when selling in person (such as at a gunshow for me). When I try to sell a gun at a gunshow I almost always tack on a little because I EXPECT people to want to haggle and that gives me some room to come down and make them feel better. Obviously that strategy doesn't apply to auction sites, and I don't think it really works on this forum either because here the buyers tend to be more informed, and haggling isn't a big part of it.