Determining gun values

[D.B. Cooper]

What do you consider the authority on gun values? (Or, at least, what do you consider a dpenedable, accurate source for determining fun values?)

I went to a local gun show today-first one in many, many years. I didn't buy anything, however I noticed several guns that were similar or nearly identical to guns I already own (most were C&R eligible, some with different barrel lengths or calibers) with price tags on them. The prices surprised me. Perhaps I'm undervaluing my guns. (Not that they'll ever be for sale.)

I wonder if I shouldn't purchase a current copy of the Blue Book of Gun Values or the Standard Catalog of Gun Values.

 

[Jim Watson]

One approach is to look at COMPLETED auctions on Gunbroker and see what one of the sort has actually sold for.

 

[ms6852]

I am not a collector so I will never pay the ridiculous prices most sellers ask for. If I want a certain firearm and I do not mind that it is used I will offer $100 to $200 dollars below the price of a new one. Or pay for a new one. Many sellers count on novice shooters to pay the price as they do not know any better. My brother does this all the time. He will buy firearms shoot them and than gets rid of them because the novelty is gone. He normally gets the same amount he paid for when it was new. But he targets new shooters.

 

[gspn]

What do you consider the authority on gun values? (Or, at least, what do you consider a dpenedable, accurate source for determining fun values?)

It depends. Some guns are easy to value, some are darn near impossible.

A new issue, common gun like a semi auto pistol from a major manufacturer? Easy.

A hand made 120 year old side by side shotgun with beautiful engraving, gold inlays and damascus barrels? Not easy.

As Jim Watson mentioned above..."completed" auctions have some informational value. But even then it has to have had a lot of viewers and bidders to really be meaningful.

 

[D.B. Cooper]

One approach is to look at COMPLETED auctions on Gunbroker and see what one of the sort has actually sold for.

I have trouble with this one. While I agree that there is a difference between an asking price and a selling price, I feel like gunbroker is notoriously high on just about everything. I think that is because of the fact that everyone in the country can bid, so that means what a gun sells for on GB doesn't necessarily reflect what it will sell for locally. (Then again, publication like Gun Blue Book are also national in their nature.) I also suspect that, while not widespread, there is a fair amount fraud and misrepresentation on GB and similar sites.

Additionally, I'm under the impression that, in order to view completed transaction, you have to pay some sort of subscription fee or something. (I could be wrong.)

 

[D.B. Cooper]

I am not a collector so I will never pay the ridiculous prices most sellers ask for. If I want a certain firearm and I do not mind that it is used I will offer $100 to $200 dollars below the price of a new one. Or pay for a new one. Many sellers count on novice shooters to pay the price as they do not know any better. My brother does this all the time. He will buy firearms shoot them and than gets rid of them because the novelty is gone. He normally gets the same amount he paid for when it was new. But he targets new shooters.

I'm with you on this one. I've noticed that anytime I want to buy a used item, the owner wants darn near full new price for it, and anytime I want to sell an item, people want to pay pennies on the dollar. It's gotten to the point that if I'm buying something that is till in production, I won't even bother looking for a used one. I only buy used guns if they're out of production. I've also gotten to the point of not ever selling a gun (or much of anything else for that matter) again.

 

[Waveski]

"Additionally, I'm under the impression that, in order to view completed transaction, you have to pay some sort of subscription fee or something."
D.B. - Take a look at the search bar at the top of the Gunbroker page. Click on "Advanced" on the right end of search bar. That will enable you to detail your search , including selecting completed transactions. Also , when viewing active listings you can "No Reserve" , which I find helpful. No sign up , subscription , or anything like that required to use Advanced Search.

 

[guyfromohio]

For guns being manufactured currently, I look at Bud's for a baseline. If I'm looking at used guns currently manufactured, I look at Bud's for baseline new and then I cruise Armslist to see how available they are. Example... I would not pay more than $400 for a used Glock 9mm, but maybe $300 for a .40.

 

[bannockburn]

D.B. Cooper

I've noticed that anytime I want to buy a used item, the owner wants darn near full new price for it, and anytime I want to sell an item, people want to pay pennies on the dollar.

That's because there will always be some sellers that believe their "merchandise" is made of gold and in great demand (well, you're looking at it), while your "stuff" is junk that nobody really wants.

 

[reddog81]

I have trouble with this one. While I agree that there is a difference between an asking price and a selling price, I feel like gunbroker is notoriously high on just about everything. I think that is because of the fact that everyone in the country can bid, so that means what a gun sells for on GB doesn't necessarily reflect what it will sell for locall)

That doesn't make any sense. Anyone can sell on gunbroker. They're the largest forum for selling and they have the most data points if you want to get an accurate assessment of how much something is worth. If you choose to sell local it might be easier if you've got something common or completely unrealistic for some higher priced items.

The blue book is outdated the day it's published and has values all over the place. The first thing my local gun shop does when someone brings in something to sell is look on gunbroker because they are the best and easiest meter for determining value.

 

[GBExpat]

What do you consider the authority on gun values? ...

To determine a realistic market value of a particular used firearm I invest some time following Gunbroker auctions in order to find for how much they are actually selling.

So long as the item is not an Emotion-over-Intellect piece, I have found that to be a reliable guide.

 

[Rock185]

I shop around on the internet, review GB auction completed sales,etc. I don't look to LGS, gun shows, or the Blue Book, as the authority on prices. Within my humble experience, other than for the infrequent exception, shops and gun show sellers are only consistent in the high prices asked. The Blue book, while certainly containing interesting information, has never been very helpful for me in determining values. I only wish I could buy guns in the condition and at the prices shown in the Blue Book. One thing I have noticed for years now is that at shops and guns shows, if one has a gun for sale or trade, the dealer will routinely pull out the Blue Book to show how little your gun is worth. I have NEVER had a dealer in a shop or seller at a gun show pull out the Blue Book to show me why they have such a high price on guns they have for sale.....ymmv

 

[Sunray]

The Blue Book of Gun Values or the Standard Catalog of Gun Values publish out of date(takes about 2 years to compile the data and publish any book) average prices from all over the U.S. with no regard for local supply and demand.
Gun shows are like that. Lotta sellers are dealers and think they can get retail prices at a gun show. Or they're guys who think their Shootsenbanger is their retirement fund.
The assorted auction sites are better. As long as you remember that the auction sites tend to be mostly dealers with already inflated prices. Those will jump right out when you see how many bids a particular item has.
The best places are local gun shops, depending on what the thing is. Dealers base what they give on a trade in on their wholesale price and how fast they think they can sell it. Ask about a consignment sale for the closest value.

 

[D.B. Cooper]

I shop around on the internet, review GB auction completed sales,etc. I don't look to LGS, gun shows, or the Blue Book, as the authority on prices. Within my humble experience, other than for the infrequent exception, shops and gun show sellers are only consistent in the high prices asked. The Blue book, while certainly containing interesting information, has never been very helpful for me in determining values. I only wish I could buy guns in the condition and at the prices shown in the Blue Book. One thing I have noticed for years now is that at shops and guns shows, if one has a gun for sale or trade, the dealer will routinely pull out the Blue Book to show how little your gun is worth. I have NEVER had a dealer in a shop or seller at a gun show pull out the Blue Book to show me why they have such a high price on guns they have for sale.....ymmv

Interesting analysis. So your premise here is that the books will always be rather low in value? (I feel like the web auction sites are rather high.) But if my heirs are selling off all of the family guns (which I fully expect to happen), they will likely be selling to a buyer/FFL/LGS type of person, who, if you're correct (and I tend to think you are), will use one of the books.

 

[D.B. Cooper]

guys who think their Shootsenbanger is their retirement fund.

Funny you would say "retirement fund." There was a retired guy here a few years back who had been buying guns and keeping them NIB, unfired, for decades. He believed that guns would hold their value better than cash or 401k investments. He started to try to sell off dozens of old guns at outrageous prices as he needed money during his retirement. I doubt he ever sold a single one, but he adamantly refused to negotiate on the prices. The lesson here (one I already knew) is that, with very few exceptions, guns are never an investment.

 

[Rshooter]

I have seen some inflation on gunbroker. I used to go to gun shows pre AWB and you could get some good deals from small time sellers looking to unload part of their collection. Now gun shows are mainly dealers. Try to develop a relationship with a good LGS and then see what you can get there. I bought four guns from an LGS and never felt I got taken. I don't go there anymore since the owner is usually out and his counter people are not good salesmen.

 

[D.B. Cooper]

I have seen some inflation on gunbroker. I used to go to gun shows pre AWB and you could get some good deals from small time sellers looking to unload part of their collection. Now gun shows are mainly dealers. Try to develop a relationship with a good LGS and then see what you can get there. I bought four guns from an LGS and never felt I got taken. I don't go there anymore since the owner is usually out and his counter people are not good salesmen.

Sounds good. People keep using the terms "LGS" and "dealer" in the same posts, and I'm not sure if those terms are interchangeable or not. At any rate, I'm mostly trying to determine the best way to assess the value of guns I already own, that aren't for sale, than I am for trying to buy guns.

As I said earlier, unless a gun is no longer in production, I'm probably going to buy new and not even bother with the second-hand market. Through experience, I've already determined that there isn't much point in buying used. The money saved will be inconsequential, especially compared to the hassle of searching for the gun in the secondary market. I'd rather just go to a store, throw down the cash, and leave with the gun.

Like you, I've mostly come to that same conclusion about gun shows. The modern guns there are way overpriced. (I already believe that all guns are overpriced.) But I saw few opportunities at vintage guns, such as a S&W Model 15 and an 1897 Winchester shotgun. I also saw some AR 15s for two thousand dollars.

 

[Jim NE]

The few gun shows around here are outrageously high in terms of asking prices. IMO, they correlate very little with real world prices. I believe that the OP is correct in that GunBroker prices are often very high, but maybe 5 to ten percent of the guns listed actually sell (though that's a guess-timate on my part.) The ones that actually sell may reflect something close to actual value.

"LGS" means local gun store. I used to generally think of local gun stores as overpriced, but I don't think that's the case anymore. The LGS I patronize turns stuff over pretty regularly, at least handguns, so I think he's more or less on the mark, on average. I bought a near new/mint FN 40 compact w/box from him for $350 and a near new/mint Kimber Micro 9 w/box for $450 this year. I don't think I could've done any better at gunbroker. I certainly couldn't have done that well at the big box places that sell used guns, like Cabela's.

Sometimes I can get screamin' deals on GB - a nice SuperBlackhawk from the early '80's for $365 or a dead mint Taurus .44 Special in high polished stainless for $325, but most of the time the guns that sell on GB sell at standard prices.

 

[deadin]

Try to remember, if you are using GB completed auctions as a value guide, to add in the shipping, insurance and whatever FFL charges are involved.

 

[FROGO207]

Really there is no good way to gain the "what guns should cost" info without investing a fair bit of time on research. For the lowest current prices on new guns Buds, Davidsons Gallery of Guns or CDNN are good sources to research. Then a good number of trips to the various LGS in your area to see what they actually ARE trying to sell several specific common firearms for while watching if certain firearms are constantly turned over (selling them means they are priced fairly) or what sits there long term (overpriced). But this does require some effort over a length of time on your part to "smarten up" on the cost of product. YMMV

ETA for what it is worth I now own several firearms that I considered good deals when purchased and now are worth 2X-3X what I paid for them only 10 years ago. Like a Mini 14 or several surplus rifles that have gone up in value like that.

 

[Sniper66]

When I sell a gun to Cabela's they look online at the Blue Book values and price their guns accordingly. Depending on the store, they offer around 60% of Blue Book value. I consult GB too when I'm selling or buying. Bud's too. Just bought 2 rifles on GB in the last few weeks. Got good prices on both and one for 50% of MSRP. It pays to shop around many places.

 

[jrdolall]

When a Detective Special goes for $850 the world is crazy.
Pythons are $2,500.
Finding a decent Smith K Frame for less than $400 is a real rarity.
Generally speaking guns made of wood and steel hold their value better than plastic/polymer and will actually increase in value. Glocks, Taurus, and the plethora of guns being made today may never appreciate in price because they make so many. Until we have another Sandy Hook during a Democrat Congress and then all bets are off.
I know my favorite gun shop goes directly to Gunbroker when determining how much to allow on a used gun. I don't know exactly what tool they use within the site or how they determine what to offer but I have heard them say "did you check Gunbroker" on several occasions. Gone are the days when a pawn shop sold a gun based on what they had in it.

 

[tark]

I feel like gunbroker is notoriously high on just about everything.

They are. And they aren't a real auction house, they are an online gun store. The "prices realized" figures from the major auction companies are available online, and they are a much better indicator of the real value of a firearm.

 

[JONWILL]

One approach is to look at COMPLETED auctions on Gunbroker and see what one of the sort has actually sold for.

This is the best way to find a reasonable selling price. “The sold items” not the ones still for sale

Many of the guns for sale in GB are well overpriced compared to local or online stores. Example, I like CZ guns. Let locally a P-07 runs close to $500. I got one on GB for under $400 delivered

 

[BWS]

GB is a little like fleabay.....

Here,I have this rare tea cup.... this thing is worth 1k$."OK,but they sell'm every day on eBay for 20$"?It's real time data.Not the perfect correlation,but ain't that far off either.

I used to spend good $$$ at a LGS here.The owner knew me,knew my boys,yadayada.We enjoyed a back N forth good natured haggling.Sometimes I'd "win",sometimes he wouldn't move on price,and I'd get it anyway.The point is,it was a two way street.A one time visit/purchase is just that?

He retired.So,start going to another.Same thing has happened.One area that's changed is new shop,for several VG reasons is buying "estate lots".Having a working relationship,meaning he's comfortable telling me he's buying "lots",means that there's plenty of margin for some of those pcs.He'll sell the minty ones for GB prices and make good money.But,take the odd ball cals or maybe a few with too many handling dings,he'll sell them CHEAP just to move them.Got to do the research (as posted above).Can't be finger fumbling your phone while standing there,haha.