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Aim true !
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This has been bugging me about my LGS. I know a gal who sold him a ISCC M22. He gave 75.00 for it. It's on his site now for 212.00 OTD. I feel the young lady got ripped off.
 

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Like going to a pawn shop. They pay you nothing, but charge the buyer everything they can get. Did she do any research to see what it was worth? Might be all her fault.
 

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Keep calm & return fire!
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Thats not terrible IMO. He's making roughly $100 on it. I don't feel that's obscene.
It was also her choice to accept $75.00
 
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Ancient Gaseous Emanation
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When a FFL01 dealer purchases a new firearm from a distributor they open the box, display the firearm and sell it. The manufacturer waranties the firearm.

When a FFL01 dealer purchases a used firearm form an individual a cursory inspection of the firearm must be done. A selling price must be determined and 50% of that price is offered to the seller. Dickering ensues and the firearm is purchased. The Make, Model and SN must be run. Can't sell a stolen firearm! Also manufacturer's recalls must be checked. The firearm must be cleaned and a detailed inspection perdormed since many problems (broken firing pin, etc.) are not readily noticeable. A reputable dealer will warranty the firearm for 30 days, or so.

A 50% profit margin is never achieved. Its usually around 30% - 33%.
 

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IMO, she could have held out, for perhaps 100 to 110$, but the low ball offer wasn't completely unreasonable. If she had known more about the pistol's value, she could have probably done a little better.
 

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The lady's options were
#1 Sell it herself on the open market and she collects 100% of the sales prices. It could sell in a day or a year.
#2 Sell it via auction and she is guaranteed an immediate sale but not a fixed price.
#3 Sell it to a 3rd party reseller for basically wholesale.

I am not a retailer or FFL. I just see this as she chose to sell the gun and got a quick sale in lieu of having to sit on it and deal with buyers herself.
If the gun store owner makes $100 on the gun, that isn't ripping her off. He offered to buy it and she took his offer.
$100 is likely not enough to cover an employees day wage.
The value of something is what it is worth to you. Unless the buyer lied to the woman it was a mutually agreed upon price.
 

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Try a coin shop or a jewelry store and see what they will try to give you for a valuable piece.... and then turn around and sell it for....

Alan
 

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No one forces you to buy or sell to a dealer.
Most do it for convenience.
As stated previously, there is overhead and folks have to make a living.
You will never get the money from a dealer sell that you could on your own. But you have to work harder for it.
 

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Aim true !
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Discussion Starter #9
Thanks for all the replies.I feel better about Gators now, I didn't tell her what he's asking. Im the one who sent her there.
 

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My wife had a nice SUV years ago that was starting to get up in miles so I started looking for another one. We bought her a newer model and kept the old one. The dealer wasn't going to give us hardly anything for it and she refused to just "give it away". I decided to stay out of it.
It booked at about 5K. She puts an ad in the paper and online and lists it for $5500.
Nothing.
Two weeks go by and I ask if she wants to drop the price, so she does, down to 5K.
A couple tire kickers and two low ball offers from local pay here car lots.
6 weeks later I told her I'll take it down to the local consignment auction. I know the owner and his sons and I know they will work for us.
They parked it on their property and advertised it for two weeks. It sold for half of the book value. BTW, that was $1,000 more than the dealer offered.
She was down about it for a day or two, but it was gone and off our insurance.
The truth was (and I didn't dare say so) was she could have done that from day 1 and spared herself the trouble.
 

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Well I will tell you "Straight From A Gun Dealer" He told me "Dealers Pay 65% Of the Actual Value" Now as to who says what the Value is 100% dealer discretion. Basically Dealers will have their way with you, and if NOT a Buddy or Family they (Dealers) are really gonna have their fill at my expense I avoid and do private sales. OH yes and "GUN SHOWS" JUST all DEALERS waiting to screw the next guy.
 

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JUST all DEALERS waiting to screw the next guy.
Sort of a broad brush isn't it?
The gun dealers I have purchased from worked out of basements, garages, pole barns, small store fronts and shops.
If they are getting rich off little guys like me they are all socking it away in their safes.
 

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Try a coin shop or a jewelry store and see what they will try to give you for a valuable piece.... and then turn around and sell it for....

Alan
Many places only give you bullion weight for jewelry and wont pay for stones unless they are half karat or more from my experience. For average rings you're lucky to get $40-100 and then they clean it and put a $1,000 price on it.

If you get 60% of value selling to a gun shop you're doing good and most likely you just sold a gun that is popular, in good shape and will sell quickly. If it's not in that criteria the percentage drop and sometimes considerably.
 

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Keep calm & return fire!
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Sort of a broad brush isn't it?
The gun dealers I have purchased from worked out of basements, garages, pole barns, small store fronts and shops.
If they are getting rich off little guys like me they are all socking it away in their safes.
This is the truth. I have been dealing with my FFL for several years now. He's a retired LEO. He does a hell of a business directly from his living room. He's a great guy but to be brutally honest... his house it a complete chithole.
It's extremely cluttered and there's more than a few things in need of maintenance.
If he's making tons and tons of money I have no idea what he's doing with it.

He takes care of me and thats all I can ask for. I am going to cry when he retires.
(I may have to get my FFL)
 

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This has been bugging me about my LGS. I know a gal who sold him a ISCC M22. He gave 75.00 for it. It's on his site now for 212.00 OTD. I feel the young lady got ripped off.
She did get ripped off. I long ago stopped trying to convince people selling inherited guns not to sell without appraisal. Most don't listen because they believe I am trying to screw them on the deal. Like I really wanted a 9mm Lorcin, or .22 RG Rohm auto for my collection.
 

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She did get ripped off. But it is her own fault. I long ago stopped trying to convince people selling inherited guns not to sell without appraisal. Most don't listen because they believe I am trying to screw them on the deal. Like I really wanted a 9mm Lorcin, or .22 RG Rohm revolver for my collection.
 

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If two people agree on a price, there is no "ripping off." The seller can walk away from a deal at any time and seek a better deal somewhere else.

There are times when I allowed myself to be "ripped off" because of the hassle and inconvenience of looking for that "better deal" but in many instances, it's just worth it to take the money and run without digging in your heals.

And like Popeye mentioned above, cars and guns are just a couple of the many many things you can buy and not know what underlying problems may exist. It's hard to fault a dealer much for trying to cover his financial butt. At least with cars, you can get warranties.

--Wag--
 

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I used to go to estate sales and auctions quite a bit. People were always looking for a deal.
These days, resellers as well as the average Bob and Linda walk around with their iphones googling and checking items for sale online to compare with what is at the auction.
There are no "steals" anymore, and there is no reason for anyone to feel they have been ripped off, when 5 minutes of seach fu can give you an idea of what your item is worth.
 

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I have a personal policy. When asked about a guns value I give my best dollar estimate. I even explain the research process to the seller, and help them check it out. IF the seller ask me what I would pay for the gun, or parts I explain I rarely pay more than 1/3 of the guns value, I am not a dealer. Most of the time I decline the purchase, and assist the seller getting the best deal I can find. I DO NOT charge for this assistance. I have found the courtesy comes back ten fold as I build up my network of parts suppliers. Bear in mind I get my enjoyment from rescuing/ownership of old shooters.
No one can ever truthfully say I ripped them off in a gun deal.
 

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Try a coin shop or a jewelry store and see what they will try to give you for a valuable piece.... and then turn around and sell it for....

Alan
Jewelry has two- three times the mark up. When I managed a pawn shop I always maximized every loan. I was in the high risk short term loan business. If the owner did not redeem the item I had to try selling it. The biggest profit margin is jewelry. Guns, due to federal laws, are bigger pain in the rump than a mother in law on your honeymoon.
 
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