Do "Sunk Costs" keep you from selling certain guns?

[atek3]

All the guns I've sold I've regretted save the Tikka.

I sold my first rifle, an M1 Garand, to partially offset the cost of my first Match Rifle. Dumb.
I sold my first handgun, a 1911A1, to offset the cost of my first USPSA Production gun.
I sold my tricked out 10/22, I think the buyer just offered me way way too much money so I had to sell (of course I spent a goodly sum rebuilding another a few years later)
I sold my Tikka match rifle, I realized I'd never shoot high power again, so it was a $2k dust collector.

I think those are the only guns I've sold.

 

[Dbaggerly]

To see the real cost of a gun one must first look at the relative price and not the absolute price. The relative price is the price of the gun compared to the price of all other goods. Once the relative price is determined the marginal price of the gun when then need to be determined. (Relative Price and marginal price is based on opportunity cost, therefore, it the price changes from person to person.) If the relative price of a gun is less than the marginal price, a consumer should choose to purchase the next gun. The purchase should be made up and to the point in which the relative price and marginal price equal.

 

[230RN]

I never want to sell, but alas, sometimes you gotta get money fast.

That's a significand point, apart from all the economic theory. Add points to your value for liquidity. The ability to generate fast cash is sometimes an important factor.

Got in a bind a long time ago... would wifey sell a horse to make a mortgage payment? Nooo.... But I got rid of a gun at a "loss" in a matter of days to make the payment. Lots of value to me right there.

Terry, 230RN

 

[Reasoned1]

Valuation is ultimately subjective; there is no argument in the world that can logically dictate what value a person should place on something. Therefore, economics is also ultimately subjective, and the only question you need to answer in deciding to sell (or buy) is, "Do I value what's offered in exchange even more?" If so, you will obviously sell (or buy).

 

[Panzercat]

The economists say that the economic value of an article of trade is whatever the market will bear. Just because you put a lot of money into a gun does not mean that someone else cares a rat's rear or will pay you a penny more for it.

Anyone else have a similar problem?

I think anybody who bought a Mossberg 500 and tac'd it all up

 

[orionengnr]

I've sold most of the guns I've bought. Made money on a few, lost money on a few, broke even +/- $50 on all the rest. Kept the ones I really like, and will continue to do the same as long as I can afford to do so.
Same with motorcycles and other inanimate objects.
Same with financial instruments--I've been hurt far worse in the mutual funds market that I will ever lose if all my guns turned into pumpkins tomorrow.

Long story short--I am not attached to inanimate objects, regardless of how much money I happen to have in them.
Dave Ramsey, a far more astute money man than I, does a very simple sunk cost analysis:
All else aside, would you buy it today for what you have in it? If yes, keep it. If not, sell it and move on. I couldn't have said it better myself.

 

[Ohio Gun Guy]

I have more of a sentimental problem selling guns..... IE: Guns from when I was a kid, Guns I picked out / bought on a trip with my Kid/s / etc. That covers most of them...

Otherwise, I never figure I'll recover the cost of accessories (NIC Magazines). Customizing a gun is "Sunk" money IMO. My personal favorite are the guys who take a mosin nagant, sink 400 into it to make it a modern rifle. Then they try to sell it for 400-500. You can track the posts and after a long few weeks it will drop in price as the realization sinks in. I feel bad for them, but after they hack it up, I wouldnt give'em 50.00 for it.

 

[bushmaster1313]

That's a significand point, apart from all the economic theory. Add points to your value for liquidity. The ability to generate fast cash is sometimes an important factor.

Got in a bind a long time ago... would wifey sell a horse to make a mortgage payment? Nooo.... But I got rid of a gun at a "loss" in a matter of days to make the payment. Lots of value to me right there.

Good wife is hard to find
You can always get another gun

 

[Rail Driver]

Sunk Costs:





The only one that will return even close to what I put into it (if I sell) is the Saiga AK. That's also the reason I generally prefer to trade.