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Gun Collection Liquidation

Discussion in 'GSSF' started by Adjuster, Mar 4, 2010.

  1. Adjuster

    Adjuster

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    I was approached by an acquaintance, not a friend but someone I do run into on a weekly basis. He knows I have an interest in firearms. He said that his family by way of a death was left a gun collection. The guns mean nothing to the family sentimental wise and they want to sell the guns and divide the money. My acquaintance has been put in charge of this task.

    I do not know how long they have had the guns but they are currently stored at a family members house. He said there are approximately 25 guns and gave a brief run down from memory. 4 1911s some trimmed in gold and some autographed???, 4 lever action rifles, something called an Autoloader shotgun that is supposed to be very valuable, various shotguns, a couple German Lugers, CZ pistols, AK47s, a 308 rifle and various other rifles, Glock pistols and so on. He is not a gun guy and was just going from memory of what he thought was in the collection.

    Here is the problem that he is running into. They want to sell the guns at real value and get the most money for the family. They have contacted a few appraisers, gun brokers etc... All of the people contacted are willing to handle the sale but at a huge percentage cut for themselves. My acquaintance family does not need the money and they are not willing to let the guns go at a huge loss but they don't know how to proceed. They have been given an unofficial eyeball estimate for the collection at $30,000.00.

    My acquaintance asked me what I thought his options are in selling the guns. I told him I didn't think he had any options and the family is going to have to eat the cost of having the sale handled by an expert including appraisal, sale etc.. This would of course include the appraisal, marketing, sale, legal transfer, shipping etc etc.. I understand why these sales persons would ask for a large percentage as the workload involved would be tremendous.

    The only thing I could come up with for them to get the most money for the guns would be to market the entire collection to one individual. They would still probably have to sell at a loss but it would be less of a loss than letting a dealer handle it for a percentage.

    Any thoughts on this? By the way he also told me the family is in the same situation with a gold coin collection left to them from the same death.

    Keep in mind this whole thing could be totally bullcrappy but this person has no reason to lie to me or impress me with some wild story.

    If anyone knows someone that might handle a sale like this the guns are located in the Port St. Lucie area of Florida.
     
    Last edited: Mar 4, 2010
  2. noway

    noway

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    Can they afford to sell it one at a time? You know what a collection ( entire group ) that includes glocks, is just a group of guns with a glocks?


    I look at each gun as a individual and total all items sold in that way. If it's doable, than sell it. You might reccommended that they sell as individually guns and this might be easier to sell than a grouping.


    I'm prety sure a few AK47s would sell like hotcakes ;)
     

  3. harleyfx69

    harleyfx69

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    well if you look at the hole picture ,

    they arent all that valuable of a collection,

    25 guns appraised at 30k dollars,

    average thats a bit over 1k a piece,

    and you said glocks were involved, so those are probably apprasied at 400~ a piece, so a couple valuable guns in the collection, and the rest just enough to balance it out,

    most likely the autographing is "engraving" or other types of scrollwork / patterns on the guns,

    if you have a gold plated taurus , its worth 400-500 dollars, a gold plated colt 800-1000,

    so it all depends on what it is,

    also try listing them on gunbroker, and that lets you have anyone in the states view your items for purchase,
     
  4. harleyfx69

    harleyfx69

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    they will only sell like hot cakes if you price accordingly, the market has dropped under the boom that retailers took advantage of,

    wasr's are back down to dirt cheap .. your not gonna get top dollar for a turd ..
     
  5. Adjuster

    Adjuster

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    I did mention GunBroker to him and he was aware of that auction site. The problem is they don't know the true value of the guns and they don't want to get taken for chumps.
     
  6. MO Fugga

    MO Fugga Malt Liqra® Lifetime Member

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    Why not buddy up with a FFL holder and set up a table or two at a gun show?
     
  7. PlasticGuy

    PlasticGuy

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    That's why you use an auction site. They will be bid up to fair market value by the bidders. All you need to do is price them at the lowest price they're willing to part with them for, and let the market determine how much more they're worth. Then strike a deal with a shop to transfer them for $50-$100 per gun for the entire collection.
     
  8. ElevatedThreat

    ElevatedThreat NRA Member

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    To get fair value and keep it, look for comparable sales on Gunbroker.com.

    Then list the guns, starting out priced accordingly.

    Anyone else who handles the sale will take a healthy cut.

    -ET
     
  9. patw

    patw

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    You can also check on GunsAmerica and Auction Arms, if you don't find what you have in order to get an idea of a price on the firearms. I am in Saint Lucie County as well, and there is no gunshop anywhere, ( here or nation wide), that will give you a decent price on the collection, because they have to make some money on it and are not going to keep the firearms. Unfortunately, that is just the way it is, as I'm sure your aware. You could try an auction, if you can find one locally, that will take the collection and auction it off, but it might be very costly as others have said after all the fee(s) involved. Unfortunately, there is no right way of pricing or selling them. It is a buyer's market right now,especially with firearms, I know all to well sad to say. I am sending a p.m. as well.
     
  10. Pylot7

    Pylot7

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    Anyone in business needs to sell at two times what they buy for. That covers overhead and gets you a profit.

    If they want full price for the guns, do some home work and sell em one at a time.

    Nobody is going to buy a collection at full retail.

    So they can suck it up and do some work or they can get wholesale. Truth is that without some personal investment in the form of work they just are not going to get retail or anything close to book.

    If they did a little research on gunbroker and a few other auction sites they could figure out market price, post em at slightly under and deal with the hassle of getting ffls, shipping and all the other trouble. Once they looked at the personal hassle factor, wholesale might not look so bad.
     
  11. ede

    ede Bama's Friend

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    i do real good selling friearms cosigned to a gun auction.
     
  12. harleyfx69

    harleyfx69

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    and to add, its not difficult to sell guns on gunbroker,

    you have your buyer, he has an FFL that accepts shipments from an individual (you), he buys the firearm at what the auction gets to, and pays for the cost of shipping,

    you box the gun up real nice and tight, and over night it to him
     
  13. FEDLEO

    FEDLEO I'm the rootenist tootenist shootenist

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    Put them on gunbroker.com when they sell take them to a FFL and pay him to ship them for you. Not hard, don't cost a fortune, should get close to what they are worth. Done deal
     
  14. saspic

    saspic Howdy Y'all! CLM

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    Did they try Dury's?

    http://www.durysguns.com/sell
    (210) 539-2629

    They offer different ways of selling the guns, will arrange shipping, etc. Tom Gresham of Guntalk and Guns and Gear used them to sell off some of his dad's collection after he passed away.
     
  15. 1gewehr

    1gewehr

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    :thumbsup:
    Except, in FL, you do not need to use an FFL to ship FROM. If the guns go out of state, then you will need to ship them TO an FFL. If a person in FL buys them, no paperwork or dealer needs to be involved at all.

    Generally, when I sell something on GunBroker, I set the minimum bid at 60% of what I actually expect the sale price to be. For a collection like this, there will probably be at least a couple of items that you will only get that much. But there will be a couple more that get into bidding wars. On the whole, it's the best way to get the most out of the collection.

    Hints:
    Take lots of photographs. Especially of all markings and accessories.
    Be as descriptive as you can. You never know what small feature or marking can make the difference between getting the minimum and starting a bidding war!
    Include any accessories with the firearms. While they don't add much value, they can make the difference between selling and not selling.
    Do not try to refinish or 'improve' something. You will only make it worse. cleaning is ALWAYS a good idea, though!
     
  16. eddief4

    eddief4

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    :agree:


    i'm in PSL as well, and your not ganna find any fair market value from them.
    i know everyone keeps saying it, but Gunbroker is ganna be your best bet. find out what they are worth, and sell them individually. :wavey:
     
  17. mdfd

    mdfd

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    if it is truly a "collection", meaning they have some significant association with each other (consecutive serial #'s, matching guns, etc), then it would probably be better to have it professionally appraised/handled. If it is merely a bunch of guns then chances are they'd get more money selling them separate if they took the time...
    Heck, I'd do the administrative stuff for my pick of a few guns....:wavey:
     
    Last edited: Mar 5, 2010
  18. ithaca_deerslayer

    ithaca_deerslayer

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    Anytime I see a collection advertised, I'm thinking I'd want a HUGE price break for buying them all.

    So, to get the full value, they'd have to be sold individually.

    My 2 cents.
     
  19. Cole125

    Cole125 Silver Member

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    That is probably the best thing he could do. The idea of letting a gun dealer handle the sales is a good one as well.

    BTW you should look at the guns and buy one or two. Maybe one of the Lugers. :supergrin:
     
  20. Ol Timer

    Ol Timer ↓ hog hunter ↓ Millennium Member

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    Have them order the newest edition of Blue Book of Gun values.

    https://store.bluebookinc.com/Firearms/Default.aspx

    The easist way with the least amount of commision would be to consign the guns at a local gun store. It will cost them 10-15%, but the gun store will do everything. They drop the guns off and pick up the checks as they sell.