Local newspaper ad wanting to buy guns?

[Barrett93]

Has anyone ever posted something like this locally? I am a new FFL Type 01 and I've decided that there is little to no money in stocking new guns. Used guns are my wheelhouse anyways so I'm thinking about posting an ad to buy any used, old, unwanted, neglected or broken firearms. I'm just curious if anyone else has had any luck with this type of business model.

 

[Cayce Charles]

Used guns are where the money is. Use local papers or ArmsList to buy. USUALLY a seller will pay 50% of retail and sell for 75% of retail.

Don't be afraid to bid low. You can always go up but can't go down.

 

[stchman]

Used guns are where the money is. Use local papers or ArmsList to buy. USUALLY a seller will pay 50% of retail and sell for 75% of retail.

Don't be afraid to bid low. You can always go up but can't go down.

Where are these sellers? A lot of sellers want almost new prices for their used guns.

 

[toivo]

Has anyone ever posted something like this locally? I am a new FFL Type 01 and I've decided that there is little to no money in stocking new guns. Used guns are my wheelhouse anyways so I'm thinking about posting an ad to buy any used, old, unwanted, neglected or broken firearms. I'm just curious if anyone else has had any luck with this type of business model.

There has been an ad like that in the classifieds of my local paper for as long as I can remember. If it wasn't working for the guy, I don't think he would keep paying for the ad.

This is New York State, though, and all sales have to go through an FFL, so a dealer here may have an advantage that dealers wouldn't necessarily have in a jurisdiction where private sales don't need a NICS check.

 

[1976B.L.Johns.]

Has anyone ever posted something like this locally? I am a new FFL Type 01 and I've decided that there is little to no money in stocking new guns. Used guns are my wheelhouse anyways so I'm thinking about posting an ad to buy any used, old, unwanted, neglected or broken firearms. I'm just curious if anyone else has had any luck with this type of business model.

It wouldn't' hurt. (To post an ad.) I recall riding in an old Chevy with Dad 40 or 50 years ago to a person who had an ad in a regional rag selling firearms that Dad could not get to fast enough in the middle of winter. I still read the ads in the same paper hoping to find a deal like he did years ago.

 

[hdwhit]

Barrett93 asked:
I'm just curious if anyone else has had any luck with this type of business model.

In the rural town where my father lives, dealing in used guns is the only business model anyone had been able to use successfully. Guys who try selling new guns only last as long as their working capital holds out.

In more affluent areas, it might be more problematic as many of the potential customers specifcially want a new gun because in the neighborhood "snob-off" it's more important what you have and how much you paid for it than that it works.

 

[Twiki357]

I’ve seen a couple of “Want to buy” ads in my local paper over the years. There have also been some on Backpage every now and again. Here in Arizona, Backpage is pretty much the “GoTo” for place for gun ads. No idea how successful they may have been.

 

[NWPilgrim]

The key is to advertise immediate cash for guns, especially estate sales. The gun nut (like us) who is willing to wait for a good price is not your source. Like pawn shops, you want to buy from:
- Someone wanting fast cash and willing to take a big discount to get it (more like 40% of new street price, and resell for 70%)
- Someone trading in for another gun they want more: instead of waiting a month or two to sell so he can buy, he is willing to take discount to get money for a purchase today
- Estate sales, especially by relatives with no idea of gun values and not interested to learn about it. Estates often want to settle property sale ASAP and not looking for top dollar.
- Consignment sales for those willing to wait for better price (don't know the cut the dealer gets)

I think the more an item is a commodity the thinner the margin will be, such as a Glock--lot's of competition buying and selling the same thing. Whereas something more special would garner a bigger margin because you take the risk of it not moving as quickly.

 

[Wisco]

The internet and availability of free information for nearly everyone has taken the profit out of almost all used stuff. Everyone knows what stuff is worth and at what price it’s selling.

There’s not many people out there who will sell a gun low enough for you to make a decent profit...unless they’re adamant on selling to an FFL and willing to take 70% of what they could get on their own.

 

[buck460XVR]

Local gun guy/friend has been doing it around here for quite a few years. Told me lately that the biggest problem he has is that many folks don't subscribe to a small local paper anymore. He now lists on local online Buy and Sells too. He doesn't run his adds continuously, but often, and tries to run them when the local advertiser papers list the local upcoming auctions or when folks need cash, like before/after Christmas and tax time.

Like when buying anything and reselling for profit, one needs to know real values and what their customer base wants and is willing to pay. Buying neglected/broken firearms may be fine of you are a gunsmith, but depending on the firearm, may not be worth it otherwise, unless you have a buyer for parts. Another consideration is competition. My friend says the money is not in it like there used to be, between online used gun sellers and the competitive prices one now finds on new guns. Market has changed too, with many of the older, cheaper guns not really desired anymore. Used to be a time when dad's bought their son a cheapo MilSurp for their first deer rifle. Nowadays one can get a new namebrand that shoots 1MOA outta the box for less than $400 and dad's see it as in investment for the kids lifetime.

Still, you have the license, the cash and it seems the desire. Only practical way to increase your inventory is to advertise. Only one way to find out.

 

[HOWARD J]

In s/e MI newspapers will not allow gun adv.
Walmart has not sold guns for a long time--they do sell some ammo.

 

[M1key]

Open a pawn shop.

M

 

[George P]

Transfers are where the money is - no inventory or carrying costs

 

[CoalTrain49]

In the rural town where my father lives, dealing in used guns is the only business model anyone had been able to use successfully. Guys who try selling new guns only last as long as their working capital holds out.

In more affluent areas, it might be more problematic as many of the potential customers specifcially want a new gun because in the neighborhood "snob-off" it's more important what you have and how much you paid for it than that it works.

I know a guy who just got his FFL. He opened his business in a shop that used to sell guns but lost their FFL. The shop now sells ammo and reloading supplies. This new FFL primarily sells used guns on consignment and owns nothing on his rack. He will however meet any price in the area on new and order it for you. He said it's only a 10% markup so not much profit there. He primarily does it as a service to keep traffic in the store. From the looks of it he's doing pretty well. It's a rural location as the nearest town is about 10 miles away.

 

[George P]

In more affluent areas, it might be more problematic as many of the potential customers specifcially want a new gun because in the neighborhood "snob-off" it's more important what you have and how much you paid for it than that it works.

Maybe you need to define affluent and snob-off and what you consider those price ranges to be - for some folks it is $500, others it is $5000 and others yet it is $50,000.

 

[OneFreeTexan]

A local guy has a ‘buying guns’ ad running regular.. I was visiting him when an older gentleman visited with several nice shotguns to sell..the buyer had to ‘low-ball’ him because they were shotguns that just weren’t selling in the area. The seller turned him down..the potential buyer said he felt bad only offering that low amount,, but if he paid what the guy was asking, he have the guns until he died.

 

[JTHunter]

Where are these sellers? A lot of sellers want almost new prices for their used guns.

I can confirm that! Three years ago, I finally was able to close an auction on GunBroker for a Marlin 1894 in .357 Magnum. With shipping and transfer fees, this 20 year old gun cost over $800.