Suggestions on Downsizing Collection

For me, I could list them locally and sell them myself or there is a local auction house that has monthly online auctions. They take a small percentage and one can set a reserve price. Selling myself would mean no 4473s and no tax collected. The auction house makes the buyer pay these. Both are easy and can give good returns on my investments. Right now with the huge demand for firearms, it's a seller's market. I would not wait till inflation and a possible recession set in, and folks end up with less expendable income.

If you do a search on this topic you’ll find multiple threads with extensive answers. There was one that ran just a couple weeks ago

Just type “downsizing” into the search box and you’ll get lots of answers

Have a local gun club(s)? Local dealer(s)?

If so, start there and post a list for sale.

BE AWARE, some will be over to case the place.......I am not kidding.

Side note:
Your timing is pretty good. I downsized significantly in the last 18 months; my return has been quite satisfactory.

I used word of mouth and the classifieds here on THR and the S&W forum. If you have shooting friends - talk it up. Lots of guys will jump at a chance for a no paper trail deal - only if legal in your state of course.

Include your address and schedule to your post, I’ll wager your collection will get reduced fairly soon.

32 Scadoo said:

Any suggestions as to how I might downsize with minimal financial loss and minimal red tape would be very much appreciated.

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I've said that every collection should have a theme. First of all, decide what your theme is, and set aside the guns that don't fit into that theme. Those are the ones you could dispose of.

As to the mechanics of selling them, I would look into a consignment arrangement with a trusted local dealer. The gun show route could be very frustrating.

A local gun store/indoor range here has a division that deals in auctions/estate sales/consignments and/or a combination of such. They take care of the paperwork and all that for a percentage. Depending on how many you plan to get rid of - you might see if there's something like that in your area.

I did this early in 2020. First I ask my boys if they wanted any of the ones that I decided to sell. I was lucky to have a shooting buddy with an FFL and he put them on Gunbroker for me. He added shipping and handling prices to the selling price and only charged me a token amount. My buddy listed the starting bid at 99cents and let them bid. I came out well and didn't feel guilty because the buyers had the choice to bid it up or not.

Look for a shooting buddy or personal friend with an FFL or talk to the dealer that you do the most business with about consignments. Places to look st are the rifle range that you use, same with an indoor range, shooting buddies, ect.

Find a dealer who will list on gunbroker.com.

The most you should have to pay is 15 % of sale only.

The dealer is responsible for rest out of his 15%

YOU WILL NOT LOSE MONEY, the market is hot for guns you can't even imagine.

I've listed and sold guns online. It can be a PITA. Folk's act interested; even say they'll take it then back out. After you've advised others that are interested that it is sold pending funds. Then you have to go back and contact the others. Then there is the cost and hassle of shipping. And everybody wants to lowball your price.

There is a local Georgia gun trader forum that I've used a few times. I only agree to do FTF sales and only if the buyer comes most of the way to me. I've gone to a neighboring town 10-12 miles away a couple of times. That is a little less of a PITA, but still not ideal.

About a year and a half ago I carried 12 guns to a local gun shop where I'm a regular. This was when dealers couldn't get guns and shelves were empty. I walked out with over $6000 and a new Leupold VX3i scope. I figured I had about $4000 invested in those 12 guns so I made somewhat of a profit. But some I'd had 20 years too.

What I am going to do when that time comes is determine the values of what I want to sell, set up at a gun show, and price accordingly.

Not for nothing, but we could all call you "Dad" and the whole thing will get a lot easier for you.

Pick a price you want for them, take a few photos and post both here,

https://www.thehighroad.org/index.php?forums/buy-sell-and-trade-handguns.22/

or here

https://www.thehighroad.org/index.php?forums/buy-sell-and-trade-rifles-and-shotguns.38/

You should have pretty good luck because lately the “want to buy” threads seem to outnumber the “want to sell” threads. Always great news to a seller.

Started doing just that a month ago. Now is the time to be a seller. Guns I bought new for $400 have sold for upwards of a grand (ten years or so). I'm not trying to make a killing but save my wife a lot of aggravation when my time comes.
Not getting rid of everything. Just the stuff I bought that would be "nice to have" and never used.

PapaG said:

Now is the time to be a seller. Guns I bought new for $400 have sold for upwards of a grand (ten years or so). I'm not trying to make a killing but save my wife a lot of aggravation when my time comes.

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I have thought about it pretty hard but the only move my wife makes towards downsizing is giving shoes/clothes to others so she has room to put more stuff she buys and is not going to use in the closet.

I think I am going to hold out a little longer…

Local sales via local forums IMO. Otherwise, estate sale type deal?

Consignment at a local gun shop is very easy.

I for one am not a fan of consignment. 15% might be the going rate in some places but I’ve seen advertised costs over 20% in my area. For a little more effort I like selling on forums and auction sites. Yes it will be a little more work, but you’ll get a better profit.

Honestly I’m always on the lookout for good buys so if you have any WWI/II items for sale I would buy one or two from to start the process for you!!

My guy's process is to take your gun, put your desired price in his book and mark it up a reasonable amount. I ask what my gut tells me (from doing this for sixty years and from shop experience up to 18 months ago). Example: stainless Security Six, 98%, bought for $350 six years ago out of an estate. Told him I wanted $550. Went at the show that weekend and he made $200. I got my 550. Faster and less hassle than doing it myself.

If you are looking for easy and fast; just give them to me.

I WAS a big fan / user of Armslist, before they got stupid.
Gun Broker is probably, the best choice, now.
Gun Trader is good, but not as busy.

Forums are my go to. Meet a better class of buyer. Know they value and not low ball. Honest deals, fast and easy.

You just have to decide how you want to deal with it.

Guns are easy to sell at the correct price; guns are very liquid compared to other hard assets. Probably the easiest disposal process is consignment - model, caliber, condition, etc all play into setting the price and my gut tells me that 10 to 15% to the shop is fair minded (the LGS has zero exposure - all pure profit).

Steve S. said:

Guns are easy to sell at the correct price; guns are very liquid compared to other hard assets. Probably the easiest disposal process is consignment - model, caliber, condition, etc all play into setting the price and my gut tells me that 10 to 15% to the shop is fair minded (the LGS has zero exposure - all pure profit).

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LGS exposure is square footage occupied and time dealing with. How does that 15% compare to other items that could occupy that space?
The cost of inventory is a major plus favoring consignment. A minus is selecting your inventory. No profit is made until ANY item is sold. Volume sold is the key to profits.
In today's market, most any gun will sell. Not always the case, though.

I LIKE a store that takes trades and consignments. Some older items are preferred to new. Choice and variety is good. IMHO.
When entering, a go to the consignments and trade-ins FIRST. YMMV

I would start with the ones you plan on giving to family members. You will get the joy of watching them enjoy your guns.
Second sort out the tools you plan on keeping.
Three is there a firearm that you would like to buy and use some of the sellers to fund it in a trade.
Sell what is left.....
Good luck!