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Re: Your advice on liquidating guns [Re: beeman] #7620549
07/06/22 10:10 AM
07/06/22 10:10 AM
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Posts: 15,594
MN, Land of 10,000 Lakes
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Trapper7 Offline
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Originally Posted by beeman
Would an auction bring in enough extra money to pay for the commission he would have to give the auctioneer?

I think an auction would be the way to go also. I have been to quite a few auctions that had a decent number of guns for sale. All the guns sold and for a good price. With the state of the country when it comes to guns, I doubt he would have any problem getting rid of all he puts up for auction.

Most auctioneers charge a buyer's premium so the commission they take for selling is sometimes lower. Your friend should check with several auctioneers to get the best deal. Assuming he wants to sell as many guns as you say, most auctioneers should be anxious to get his business.


I don't care how nice the hand soap smells, you should never walk out of the restroom sniffing your fingers.
Re: Your advice on liquidating guns [Re: beeman] #7620553
07/06/22 10:26 AM
07/06/22 10:26 AM
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Posts: 578
Iowa
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beeman Offline OP
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Iowa
Thanks for all the ideas. I will tell him what I found out. It looks as though he should find an auction that has a sporting goods background and consign them to it.

One more question. Do you think 35 long guns would be enough guns for an auction on their own?

Re: Your advice on liquidating guns [Re: beeman] #7620558
07/06/22 10:36 AM
07/06/22 10:36 AM
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MN, Land of 10,000 Lakes
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Originally Posted by beeman
Thanks for all the ideas. I will tell him what I found out. It looks as though he should find an auction that has a sporting goods background and consign them to it.

One more question. Do you think 35 long guns would be enough guns for an auction on their own?

Yes.


I don't care how nice the hand soap smells, you should never walk out of the restroom sniffing your fingers.
Re: Your advice on liquidating guns [Re: beeman] #7620559
07/06/22 10:37 AM
07/06/22 10:37 AM
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MN
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The down side to the auction is you will be paid by check and may need to account for the "income". That is why I prefer a cash sale.


I have nothing clever to put here.





Re: Your advice on liquidating guns [Re: beeman] #7620560
07/06/22 10:41 AM
07/06/22 10:41 AM
Joined: Dec 2006
Posts: 17,550
Rodney,Ohio
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Dont go making lists and aending them off if you're trying not to show how many guns he has. Maybe send different lists of 5 to different people.

Im sure you have local guy that trades guns around all the time that would probably be a good source.

Re: Your advice on liquidating guns [Re: beeman] #7620562
07/06/22 10:44 AM
07/06/22 10:44 AM
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Ky
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jbyrd63 Offline
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lot of the real estate agents in my area have online auctions for guns. Just contact them . They do all the work. .No reserve is a better deal. The way you insure that they bring what you want is YOU BID ON IT. Bidders aren't listed so no one knows if you bid . If it is below the reserve price just bid what you have to have for it....
Plus just list that buyer pays all commissions. That's how they do land auctions now...

Last edited by jbyrd63; 07/06/22 10:46 AM.
Re: Your advice on liquidating guns [Re: jbyrd63] #7620575
07/06/22 10:55 AM
07/06/22 10:55 AM
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Posts: 15,594
MN, Land of 10,000 Lakes
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Originally Posted by jbyrd63
lot of the real estate agents in my area have online auctions for guns. Just contact them . They do all the work. .No reserve is a better deal. The way you insure that they bring what you want is YOU BID ON IT. Bidders aren't listed so no one knows if you bid . If it is below the reserve price just bid what you have to have for it....
Plus just list that buyer pays all commissions. That's how they do land auctions now...

The only downside for you bidding is you will have to pay the auctioneer's selling fee if your bid is the high bid. If there is any buyer's premium, you'd be stuck for that too. Around here most buyer's premiums are 10%.
I think right now is a good time to sell a firearm.


I don't care how nice the hand soap smells, you should never walk out of the restroom sniffing your fingers.
Re: Your advice on liquidating guns [Re: white marlin] #7620701
07/06/22 02:34 PM
07/06/22 02:34 PM
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St. Louis Co, Mo
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BigBob Offline
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Originally Posted by white marlin
just to glob on here...

is there a website for gun values, like there is for automobiles? like a firearms version of Kelly Blue Book?

I have a few I might part with, but not near enough for an auction.

www.Gunbrokers.com


Every kid needs a Dog and a Curmudgeon.

Remember Bowe Bergdahl, the traitor.

Beware! Jill Pudlewski, Ron Oates and Keven Begesse are liars and thiefs!
Re: Your advice on liquidating guns [Re: beeman] #7620709
07/06/22 02:45 PM
07/06/22 02:45 PM
Joined: Dec 2014
Posts: 2,239
SW WI
trapper20 Offline
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Originally Posted by beeman
Would an auction bring in enough extra money to pay for the commission he would have to give the auctioneer?



YES, ive seen people buy used guns for more than they would spend to get a new one.

Re: Your advice on liquidating guns [Re: beeman] #7620731
07/06/22 03:21 PM
07/06/22 03:21 PM
Joined: Jan 2007
Posts: 6,461
central Haudenosaunee, the De...
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thanks, BigBob!

Re: Your advice on liquidating guns [Re: BigBob] #7620733
07/06/22 03:25 PM
07/06/22 03:25 PM
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MN
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Originally Posted by BigBob
Originally Posted by white marlin
just to glob on here...

is there a website for gun values, like there is for automobiles? like a firearms version of Kelly Blue Book?

I have a few I might part with, but not near enough for an auction.

www.Gunbrokers.com



Be sure to use the "advanced" search function to see what stuff ACTUALLY sold for, not asking prices.


I have nothing clever to put here.





Re: Your advice on liquidating guns [Re: beeman] #7620873
07/06/22 07:12 PM
07/06/22 07:12 PM
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Posts: 10,474
Iowa
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trapdog1 Offline
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Iowa
My brother in law used to buy gun collections from private individuals for Scheels stores. Mostly antique guns, I think, but it may be worth calling them.

Re: Your advice on liquidating guns [Re: beeman] #7620878
07/06/22 07:17 PM
07/06/22 07:17 PM
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SW Georgia
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He doesn’t have any kids to leave them to or give them away?

Re: Your advice on liquidating guns [Re: beeman] #7620891
07/06/22 07:37 PM
07/06/22 07:37 PM
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St. Louis Co, Mo
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Got a Cabelas near you?


Every kid needs a Dog and a Curmudgeon.

Remember Bowe Bergdahl, the traitor.

Beware! Jill Pudlewski, Ron Oates and Keven Begesse are liars and thiefs!
Re: Your advice on liquidating guns [Re: beeman] #7620895
07/06/22 07:39 PM
07/06/22 07:39 PM
Joined: Jun 2010
Posts: 16,261
Iowa
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Iowa
PM me I can give you the number of a guy who would be very helpful finding a good auction.

Re: Your advice on liquidating guns [Re: beeman] #7621000
07/06/22 10:21 PM
07/06/22 10:21 PM
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Indiana
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I have a friend that buys collections. Pm me a list and I will pass it along.

Re: Your advice on liquidating guns [Re: BigBob] #7621131
07/07/22 07:20 AM
07/07/22 07:20 AM
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Originally Posted by Providence Farm
I have a friend that buys collections. Pm me a list and I will pass it along.


Me?


Originally Posted by BigBob
Got a Cabelas near you?



You will be shocked at how little they will offer you most of the time.


I have nothing clever to put here.





Re: Your advice on liquidating guns [Re: ringtail 60] #7621196
07/07/22 09:07 AM
07/07/22 09:07 AM
Joined: Dec 2006
Posts: 62,664
Minnesota
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Originally Posted by ringtail 60
I agree with the auction idea. Within 20 miles of me are three auction houses that hold monthly gun auctions. They take care of the FFL paperwork. The prices they get make up for the commission

Correct


NRA and NTA Life Member
www.BackroadsRevised@etsy.com




Re: Your advice on liquidating guns [Re: 330-Trapper] #7621207
07/07/22 09:20 AM
07/07/22 09:20 AM
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East-Central Wisconsin
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The down side to the auction is you will be paid by check and may need to account for the "income". That is why I prefer a cash sale.

Yes but if he kept records of what he paid for them and put them on a 4797 form he would only need to claim the gain as income. He could also deduct that portion of the cost of selling to each firearm as well.

Bryce

Re: Your advice on liquidating guns [Re: bblwi] #7621210
07/07/22 09:23 AM
07/07/22 09:23 AM
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Originally Posted by bblwi
The down side to the auction is you will be paid by check and may need to account for the "income". That is why I prefer a cash sale.

Yes but if he kept records of what he paid for them and put them on a 4797 form he would only need to claim the gain as income. He could also deduct that portion of the cost of selling to each firearm as well.

Bryce



Does anyone actually keep records of what they paid for guns? To each their own but I prefer the cash transactions.


I have nothing clever to put here.





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