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FFL question

Discussion in 'The Okie Corral' started by dherloc, Jun 14, 2012.

  1. dherloc

    dherloc X-Nuc

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    How many guns can you sell with intent to make a profit before you need an FFL?

    Say for instance I purchased 20 guns at $1000 each and was going to sell them for $1300 each. Not for a collection just to outright sell.

    Seems to me I would need an FFL. Am I correct on assuming this?
     
  2. DScottHewitt

    DScottHewitt EMT-B

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    Short answer?


    The BATFE probably says



    "ONE"
     

  3. dherloc

    dherloc X-Nuc

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    Figured as much...

    I have a friend (REALLY!) who is always trying to make a quick buck. Yesterday I heard through someone else that he had purchased 20 guns with the intent to sell them for about $300 profit each. This is a guy who has probably never fired a gun in his life. I don't understand it except that he is always looking to make a dollar. So there is NO way he even has any concept of what he is getting into.

    Planning on asking him about it as soon as I can see him, but would like to be able to point him the right direction before he ends up in trouble.
     
  4. larry_minn

    larry_minn Silver Member Millennium Member

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    As I understand it. INTENT is the huge factor. I have never heard a "You can sell X number of guns. Or You can make x $$$ per gun before you need a FFL"

    What matters is WHY you bought the guns. I.E. I was "TOLD" I could buy a gun (say Glock 17 for $450 used at gun show) I then see a fancy 1911 I have to have. Someone offers me $500 for Glock (even if they are not FFL in MN) I can sell them the Glock and go buy the 1911 (or use money for car repairs...
    BUT if I buy the Glock KNOWING (or at least thinking) "I can sell it to Fred and make $50 easy" Then I am breaking law unless I am FFL.

    So if you bought those 20 guns for a grand each (average) and NOW you decide you need $$$ you can sell them. (following state/fed laws of course) For what the market will bear.
    Personally for 20 guns I would talk to a FFL. They might be willing to let you consign them for a fee. There CAN be a slight advantage to having a shop show, deal, collect fees, NICS vs having folks come to your home, rent table at gun show. It does not cost to ask gun shop, FFL that does gun shows.
     
  5. CarryTexas

    CarryTexas

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    The short answer is that you cannot purchase a gun with the intent of reselling it.

    You can buy a gun then decide you don't like it and sell it. However, legally you can't buy a gun with the sole goal of selling.

    The more guns you buy and sell the harder it would be to describe them as your personal collection.
     
  6. larry_minn

    larry_minn Silver Member Millennium Member

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    I saw that after I posted. Forget my post. What is bolded is "I NEED A FFL"
    From what I recall that right there is the "red flag, smoking gun..." that will get him tossed in jail.
    While most folks tell themselves. "This is not bad price, if I need to I can always sell it and get at LEAST my money back" To go into deal planning to make $$ is clearly (to my memory) what ATF goes after.
     
  7. Texas357

    Texas357 Señor Member CLM

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    He bought them with intent to sell them for a profit?

    I think that is your answer.

    If he had bought them for personal use but later changed his mind, maybe, but I get the feeling he is already on ATF radar.

    Next they'll try to bump it up a notch by having an undercover try to talk him into spouting off against the government and bragging that he could make bombs etc
     
  8. DScottHewitt

    DScottHewitt EMT-B

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    Or......



    "Can you shorten this barrel for me, and I'll pay you an extra $1000?"
     
  9. schild

    schild

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    :rofl::rofl::rofl: We have a winner here!:rofl::rofl:
     
  10. Adjuster

    Adjuster

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    I would question the legitimacy of this rumor about your friend. How would he get ahold of 20 guns? Who would sell him 20 guns without raising any red flags?


    /
     
  11. Bflying

    Bflying

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    I have an even bigger problem. I want to open a gun shop, but to date, have not been able bring myself to sell any of my guns. If I buy, I always find something that I like about it, then keep it forever. :dunno:
     
  12. dherloc

    dherloc X-Nuc

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    Wondered that myself. Just heard it from another person though. Going to call him on the way into work tonight to see if any of this is true. Supposedly he bought them through a little Mom and Pop shooting store in our town. Why they wouldn't have raised the question with him, I do not know.
     
  13. larry_minn

    larry_minn Silver Member Millennium Member

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    There are lots of ways (in MN) where you could buy a couple dozen guns with no questions asked. I had one lady tell me "Pay me what you think they are worth and you can have them all" IIRC a M1 Carbine, S&W 59, couple shotguns (pumps) a .22 rifle and a center fire rifle. (forget caliber) I told her to take them to local gun shop, find out what they would pay. I PROMISED her I would pay more. She did and they said "We will only give you this now, nobody would pay more..." and she fell for it. They STOLE them. I would have happily paid more.
     
  14. dherloc

    dherloc X-Nuc

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    Alright...its true...talked to him directly. Trying to convince him this is a BAD idea before it becomes something really bad.

    He has NO previous experience with guns so has no idea about the laws. Bought 15 Zastava M-70 rebuids (no details on that) from an online dealer and had them shipped to a local FFL. He has not taken possession of the guns yet. Was thinking of them like an investment that he could sell later for more $$ than he paid for them. My understanding is he had 4 guys at work that were willing to buy them and he got a deal because he purchased so many in bulk. Figured he would stash the rest of them for a while and see if he could sell later for better profit.

    Long story short is that he is going to see if he can return them and just get out of the deal. Will see how that works out.
     
  15. 427

    427

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    After giving this guy a deal and now he wants to back out because he didn't know what he was getting into, someone is going to be pisst. I wonder how much shipping both ways someone is going to have to eat.
     
  16. CarryTexas

    CarryTexas

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    Or he could just have all the transactions go through his FFL...
     
  17. dherloc

    dherloc X-Nuc

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    Hmmmm...interesting point. May still not meet the intent problem though. His intent is to sell these for a profit. From what I can find and has been posted here, he needs a FFL to sell.

    You are saying he might be able to sell IF he just uses a FFL shop as a go between?
     
  18. certifiedfunds

    certifiedfunds Tewwowist

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    Don't you watch the news? That's an ARSENAL
     
  19. CarryTexas

    CarryTexas

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    I'm not a lawyer, but if he uses a FFL even for a FTF transaction I don't see how it would be an issue. The intent to resell has to do with not requiring background checks and the 4470 to sell from your personal collection.
     
  20. larry_minn

    larry_minn Silver Member Millennium Member

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    I am not familiar with that gun. Is it C&R eligable? If so a C&R FFL is cheap/easy (compared to normal/class III one) anyway.