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LGS is trying to make a low ball offer on my Sig

Discussion in 'Handguns: Autoloaders' started by Flfiremedic, Aug 31, 2010.

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  1. Flfiremedic

    Flfiremedic Member

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    Wanted to trade a basicly new Sig P220 Elite, 3 mags, and a holster for a Savage rifle that retails at $799. Said he'd go $400 at most...says Sigs just don't sell. Does he know something I don't?
     
  2. whatever

    whatever Member

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    He knows his bottom line and what he needs to turn a profit. He doesn't make any money trading guns...he makes money SELLING them.
     
  3. Geordie

    Geordie Member

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    Maybe

    In your area. Do what I do, make a counter offer. If you can't live with his offer say thanks and walk away.
     
  4. ABTOMAT

    ABTOMAT Member

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    Gun stores always lowball. especially in trades. Sell that Sig private party and get that Savage for a few bucks.
     
  5. Flfiremedic

    Flfiremedic Member

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    Yeah...guess I'll wait till a gun show and try to sell...or try gunbroker.
     
  6. wow6599

    wow6599 Member

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    Not buying this for a second. They make MORE money if you trade in a gun like the OP's wanting to trade in. So they give you $400 for the Sig and you add another $400 on top of that for a Savage? Really.....come on. Essentially they're getting around $1000 for a Savage that probably cost them $625+/-. He will resale the Sig for $600 + the $400 you throw on top to make the deal.

    Some shops are worse than used car lots.
     
  7. TexasRifleman

    TexasRifleman Moderator Emeritus

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    They do what they can do to make money, can't really fault them for that.

    The customer can always just turn and walk away.

    I've never had an offer for a trade-in that didn't make me laugh out loud. I usually just shake my head and say "no thanks".
     
  8. Flfiremedic

    Flfiremedic Member

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    He screwed up...couldn't find the price in the blue book so I helped him. Saw the As new used Retail price $1k.
     
  9. Deaf Smith

    Deaf Smith Member

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    Medic,

    Buy low, sell high. That is the way of the business world.

    If he trades even, at the most he makes nothing while his cost for things like utilities and rent still take a toll.

    Gun shops usually give you about 1/2 of what he gun would cost them if they ordered a new one. Then they up the price to almost the same as a new gun (some up it even more) and then maybe give a bit on selling.

    And that is why I rarely trade guns at gun shops anymore. I'll talk them down some for a cash deal, or do a lay-away, but trade... nope.

    Only with the guys in the IDPA/IPSC where I shoot will I trade guns. And we usually just do a fair trade.

    Deaf
     
  10. thezoltar

    thezoltar Member

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  11. CPshooter

    CPshooter Member

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    Or you could do the obvious and sell here on THR. I've sold several guns and always received what it was worth. Why bother with the LGS???
     
  12. Full Metal Jacket

    Full Metal Jacket member

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    yep, gunshops are not charitable institutions. not sure why people walk in there expecting their gun's weight in gold....
     
  13. wow6599

    wow6599 Member

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    No disrespect, but $400 for a $1000 Sig with all the extras? What should one expect for that?
     
  14. rscalzo

    rscalzo Member

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    Shops around here have so many used guns they stopped taking them in. Two local very active shops barely have any room in their cases. A big turnaround from a year ago. So prices are not going to be high. Best bet is a private sale.
     
  15. MikeNice

    MikeNice Member

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    The guy said $400 because he expected you to try talking him up. He never would have traded even. He wants to make as close to double on a used gun as possible. Mainly because used guns sit on the shelf longer than new guns. That means every second it sits there it takes up room a new gun could be using. That means he is actually taking on an "opportunity cost."

    Most people I know never buy used unless it is a gun they just have to have or it is a rarity.
     
  16. TexasGunbie

    TexasGunbie Member

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    Do you ever watch Pawn Shop on History channel??

    Guy comes in with something worth 10g!

    The pawn shop guy offers 2g and said "It's worth 10g at most, but if I put it in an auction to sell, it will cost me 10 percent. And I am not sure if it will sell for 10g at the auction."

    Go post it on a gun trading website, you'll get better offer that way. What holster do you have? if it's only 50 bucks when you bought it, then consider it worth 10 when you do a trade, because a holster that fit you might not fit someone else.

    Some people even treat holsters as freebies, unless you are talking about some nice fine cowboy leather holster.
     
  17. Full Metal Jacket

    Full Metal Jacket member

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    dpends on the condition and average resale value (which is higher with older euro sigs). not to mention most gunshops sell higher than 10% over cost, especially used, despite what they tell customers.

    if it's not what you're looking for, simply go to another shop, or sell it yourself.
     
    Last edited: Aug 31, 2010
  18. DustyVermonter

    DustyVermonter Member

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    I could never sell a gun at a gun shop.

    I have a sentimental attatchment to all of my guns and would only sell them according to what they are worth to me if I absolutely had to, Which would be MSRP or higher, which is unreasonable so I don't sell guns, I buy them.

    BTW, your LGS is the last place you want to go to sell a gun, gun shows too for that matter, how's that gun-show motto go: Did you just buy that beautiful work of art or are you trying to sell that POS?
     
  19. DustyVermonter

    DustyVermonter Member

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    My wife bought me an old pump action 12ga years ago for $150, a game warden confiscated it for "allegedly" having it in the loaded condition in my car, which technically it wasn't but anyway long story short I ended up having to pay $324 just to get it back.

    So in the end a $150 shotgun quickly turned into a $500 shotgun, but I couldn't just let them keep it for its sentimental value and the fact that it was a birthday present from my wife.

    BTW, when I got the shotgun back it was all dinged up and scratched from having been banging around in the back of the game wardens pick-up.....nice huh?
     
  20. TIMC

    TIMC Member

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    No different from trading in your car, a dealer needs to make money on it so if you expect fair value sell it yourself!
     
  21. bannockburn

    bannockburn Member

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    Try selling it online as others have suggested, or maybe see if there's another gunshop in your area that will sell it on consignment.
     
  22. FatPants

    FatPants Member

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    You also have to factor in what the dealer can buy the same gun for new. They are not going to pay as much/more for a used gun when they can get a new one from their distributer for the same price.
     
  23. gearhead

    gearhead Member

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    Most retail stores mark up consumer goods approximately 40%. Even the Big Box stores like Wal-Mart and Home Depot mark up 22%-25% unless it’s a loss leader, and they only stock items that turn over quickly in inventory so that they can make a profit at markups that low. I’m not in business (I was born without the “Sales” gene, I couldn’t sell air conditioners in Texas…) but you’re rarely going to get even 50% of retail asking price when trading in a used firearm. As has been pointed out, there’s no reason for the dealer to pay even close to his cost for a new example of that gun or a similar one. Also, when reselling a used firearm the dealer essentially assumes responsibility for an implied warranty. That means that he’s responsible for guaranteeing the firearm functions acceptably and is suitable for its intended purpose. A dealer doesn’t know if the used firearm he’s buying is a reliable and safe item or not, beyond giving it a visual inspection and looking for obvious issues. He does know that if there are hidden issues with the firearm it’s going to cost him money to make it good or it will significantly reduce the market value.
     
  24. Phydeaux642

    Phydeaux642 Member

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    Used guns sell very well in my area, and the shop makes a lot more money on used than new, so, why would they not want more used guns? I think 15% markup vs 100% markup kind of explains itself. I rarely look at new guns anymore. Most of them bore me.
     
  25. MikeNice

    MikeNice Member

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    Phy, that just goes to show how different circumstances can be in two areas. From what I've seen and heard, lately used guns aren't selling in my area. If it isn't a Colt Python or some cool surplus item it usually sits. A lot of buyers are happier buying a $275 Bersa Thunder, or $350 Taurus Mil Pro, than paying $450 for a used Glock.

    If the "as new" price is $1000 then the dealer assumes he isn't going to get that price. People that shop used guns usually want to haggle down the price over anything. If there is the slightest bit of wear the negotiations begin. If the dealer says the gun has a couple hundred rounds down range, the buyer is going to say "well it isn't like new then is it?"

    A dealer of anything almost never gets the full "as new" price. People will haggle it down. Plus somebody has to take time to log it in to inventory, inspect it, put it in to the ATF logs. That is money they are paying for somebody to do administrative work. That means they are lossing money because the person isn't actively selling.

    Plus, like I said they always low ball expecting the person to try talking them up. The gun shop guy was probably expecting or willing to go up to $450 or $500. However, he knew that he probably couldn't get more than $750 or $800 out of the gun.

    Anyway all that is a long way of saying he knows he isn't getting "as new" price when he sells. So he isn't paying you full retail for it. There are too many secondary costs and no definite selling price.
     
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