Checks @ gun shows?

[deadin]

You'd be surprised how many people can't understand that you're not doing this for fun...

I can fully undedrstand this as long as you are a licensed dealer (ie. FFL01, etc) What really frosts me are the "wanna-be's" that have the same attitude.

 

[22-rimfire]

He apparently knew the check was not good

Makes it a crime. But check fraud is rarely prosecuted as long as there isn't a history of doing this sort of thing. However if I wrote you a check for $150,000 for a special collector gun and it bounced.... prosecution would likely follow unless the writer of the check made good very quickly. It is essentially an interest free loan and from my way of thinking, there should be some adjustment on the final price to reflect costs involved at a miniumum.

They say that paper checks may become a thing of the past in next 10-years. Everything will be done electronically. There is frequently no fee to process a check at banks, but there is a fee for credit or debit cards in most cases. I think it is prefectly acceptable to tell a customer that there will be a 3-4% additional fee to use a credit card for a firearm transaction and if that was the only avenue I had available to purchase the firearm, I would gladly pay that fee. You have to put it into perspective... that's maybe $15-$30 extra cost. Everyone knows that it "costs" the business to accept credit cards. Some think a business should "have to" accept that cost as a cost of doing business. That might be true at a retail store, but... But I would have to build 5% additional cost into every job if I had to "eat it" consistantly.

Selling guns and so forth at gun shows can certainly be "fun". If you are retired and would like a little sideline business to keep you active, selling firearms seems like a great route.

 

[shooter_from_show-me]

I wrote out a check for this at a local gun show and was treated just fine. Just showed them ID.

 

[kaferhaus]

I can fully undedrstand this as long as you are a licensed dealer (ie. FFL01, etc) What really frosts me are the "wanna-be's" that have the same attitude.

I can relate to that. But If I'm selling a gun even as a private individual and you want to trade for it... and I really don't want what you're trading I have two choices.

I can refuse the trade as I don't really want that particular item OR I can decide that maybe I can make a little money off of it and put it towards what I'm really looking for.

So then you have a choice. Pay cash and forget the trade or take a bit less for your trade to get what you want.

I never feel offended either way.

A gun's value (or anything else for that matter) is only what it's worth to a potential buyer at that time. I have traded into items that I didn't want because I thought I could move it at a small profit. If not, then there's no point in my having made the trade in the first place.

Now if I want what you're trading it's a entirely different story.

As a quick example I had a weatherby 7-08 that I had at a recent show. a guy comes by with a Marlin 30-30 wanting to trade. I already own several 30-30s and don't want another one. I'm perfectly happy taking the weatherby home with me at the end of the show. But the guy doesn't have enough cash.

I offer the weatherby to him for 225 bucks and his marlin.... he gets upset saying the "blue book" shows his marlin is worth at least 225 and I'm only asking 400 for the weatherby.... So I explain to him I don't really want the marlin.... I'll only make the trade if I can come out a bit ahead cause now I've got to sell the Marlin that I don't want...

He walked off and then came back a few hours later and made the trade. he's happy, I'm not really so happy cause now I have to sell the Marlin to get up the cash for buy what I really wanted.

So who's the loser? He got what he wanted, I didn't, but I may have a latent 50 bucks for not getting what I was looking for. When and IF I get the money out of the Marlin that I expect to get...

 

[kaferhaus]

Down here it takes a loooong time to get the DA to collect a bad check. It's only a felony if it's over a certain amount or they're a repeat offender.

I take a check from people I know. I never ever take one from anyone else. It's not worth the hassle and I don't need to sell anything bad enough to take the chance.

 

[rscalzo]

CC company charges the vendor (of anything) a fee usually 3 - 4% to process EACH transaction and usually a monthly fee for the privilege of simply being able to accept the cards

But how many spur of the moment sales would not happen if it were cash transactions only? No one expects private sellers to accept a CC or even checks for the most part. But any dealer who does not accept CC at these large shows is eventually going to cost himself more than the fees in lost transactions. Additionally, the fees run from a little over one percent and up.

 

[hso]

The rule of thumb is to deal in cash, but when you have established a relationship with a dealer and they know they can trust your check they may accept it as payment. Don't expect it, but be appreciative when they do.

 

[kaferhaus]

But how many spur of the moment sales would not happen if it were cash transactions only? No one expects private sellers to accept a CC or even checks for the most part. But any dealer who does not accept CC at these large shows is eventually going to cost himself more than the fees in lost transactions. Additionally, the fees run from a little over one percent and up.

Fees are base upon dollar volume. Unless you're a very large company running millions of dollars a year through the clearing house you're going to pay 3% or more by the time you add the monthly "maintenance fees" to the per transaction fee.

My wife's company processes over 8 million a year in CC's and their fee is 1.8% Only companies like Walmart pay less than 1% and they're running billions through.

 

[JayBird]

As an FYI...it is violation of your Merchant Agreement with Visa and Mastercard to charge a surcharge for a credit card transaction. However, you can apply a cash discount.

 

[Ala Dan]

As our old friend, Mr. C.R. Sam use too say-

"Have PATIENCE And Carry CASH"~!

 

[Jon Coppenbarger]

OHHHHH how we all just love the credit card company's.
How many of you cut up your citi bank cards after you called them a few years back when they screwed the firearm industry?

And how we all love those pesky back charges and its great to get hit with the fees both ways. just ask CDNN how much hassle they went threw during that time period.

OH lets see you get a person who wishes to purchase a firearm or twenty and then over a say period of a month or so pays with his credit card for a deposit on the purchases. Then when he recieves the firearms he uses his credit card to pay them off. A few weeks go by and Wham!!! BACK CHARGE COMES IN. reason is he never purchased a firearm for that amount.
Then over the next month or so that person continues to back charge everything they bought.

You say now call the cops?
They take the report but state over a period of months that you need to pursure it threw your lawyer.
you say call the ATF as they stole the firearms.
Now thats funny as they will have nothing to do with you over that other than take your statement.

So you go back to the credit card company who allowed it and after faxing and mailing copys to them mulitible times (you just know they just lost the paper work 3 or 4 times).
OH and guess what they do not what to hear their cust. signed all those 4473's and you have their sig on the reciept's. its just easier to blow you off and then tell you that from now on they are going to hold a large % of you credit card deposits as a prize for future credit card sales.

So you wonder why cash is king? Why some dealers will work with you on discounts with cash. I even asked the local tire shop owner last year while having new tires put on all the way around with a little front end work also. he gave me a 5% discount.

Personally I cut up all my credit cards back in like 2003. Just use a debit card which is tied to a checking acount that I only keep just above what I need in it to cover anything that I plan on using it on.

 

[Jesse Heywood]

No checks taken at the gun shows around here. And the DA won't prosecute unless it is major and you have connections. They tell you to call a collection agency. A few take credit cards and most charge extra, because it costs them.

 

[Black Toe Knives]

I took a check last year for a knife. I didn't know guy. But I still took the check anyway. Well the check I took was good. Later found it was a local Millionaire and he ordered 1000.00 more of knives for a Charity event, as thank you gifts for the band.

 

[Dr.Rob]

I've used a check as a 'deposit' while I went to get cash. Got myself a very pretty shotgun by doing so.

 

[xcgates]

Cash talks, for all kinds of sellers, all kinds of products. There are some who I make extra sure to bring cash to (stores) because they offer a cash discount, and I'm more than happy to bypass the credit/debit cards if there is no real advantage for me.

My two primary vehicles (motorcycles) were bought with cash. (Well one was paid for in hundreds, the other with a certified check, nearly the same result)

 

[mgkdrgn]

Cash and carry or CC... I personally do not buy from sellers who charge additional fees for CC.

... or at least not from the ones that -tell you- they are charging more for CC use. Who do you think is paying that 3%, even if they don't tell you? The Mills Brothers?

 

[killchain]

As an FYI...it is violation of your Merchant Agreement with Visa and Mastercard to charge a surcharge for a credit card transaction. However, you can apply a cash discount.

You should tell this to all of the vendors that have that cute little, "Transactions under x amount will have an X fee added" sign.

 

[Jon Coppenbarger]

and who pays for all those rebates back to the buyers when they use some of those credit cards? do you really think the credit card company is going to lose money.