nettlle
Contributing Member
Always when I took a gun to a gun store they offered 50% or less of the new gun purchase price. Does the same apply to me when I am purchasing used guns from others?
Offers for used guns
- Thread starter nettlle
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NIGHTLORD40K
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Whew, that's up to your bargaining style, patience level, and sense of fairness.
I never buy guns with the intention to flip them, and I HATE haggling, so I will make a fair offer on what a gun is worth to me as a collector. That said, if the initial asking price is below market value so much the better.
I never buy guns with the intention to flip them, and I HATE haggling, so I will make a fair offer on what a gun is worth to me as a collector. That said, if the initial asking price is below market value so much the better.
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nettlle
Contributing Member
Fairness would be the way I have been treated in the past which is 50% of new gun value. Is this reasonable? I am not a wheeler/dealer.
You can accept or decline any offer and you can make any offer you wish - that applies to anything. A decision to accept any offer is based upon whether the “thing” or the “money” is more valuable to you or the other party at the time. Trading money for a thing or a thing for money is based on perceived value.
You need a blue book if your gonna do lots of trading. It will keep you from doing anything dumb.
Everything is priced of percent of new condition. So something like new still may carry new value, but worn guns many times book near 50% of new value. That’s where it gets interesting. Old school traders run off low book values on beat up guns and younger guys tend to overpay for them. So there’s a little margin on the table on those if you can stand the older crew telling your too high with all that rubbing while you wait for the guy who thinks 3/4 of new is a great deal for a gun with some character.
Everything is priced of percent of new condition. So something like new still may carry new value, but worn guns many times book near 50% of new value. That’s where it gets interesting. Old school traders run off low book values on beat up guns and younger guys tend to overpay for them. So there’s a little margin on the table on those if you can stand the older crew telling your too high with all that rubbing while you wait for the guy who thinks 3/4 of new is a great deal for a gun with some character.
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nettlle
Contributing Member
I am haggling with someone over a used (200 rounds) gun he has for sale online. New price $559.00 + shipping. He is asking $520.00 shipped. I made an offer to him of $400.00 shipped. I have absolutely no haggling skills. We will see if he counters.
courtgreene
Member
Sounds like appropriate haggling skills to me. Rule#1, be willing to walk away. Doesn’t mean you’re a jerk, just means you’re making an offer.
Jim NE
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Dealers have to use wholesale prices (to one degree or another) to stay in business. That price isn't usually the market price. Nor are some of the hyper-inflated guns show prices reflecting market value.
My rule of thumb is that about 75% or more of the guns on GunBroker are over priced, either in terms of buy-it-now or reserve prices, but if you can track some GB guns to see what they actually sell for, you might get a fair idea of what market value is. Most guns listed on GB don't seems to sell, though.
My rule of thumb is that about 75% or more of the guns on GunBroker are over priced, either in terms of buy-it-now or reserve prices, but if you can track some GB guns to see what they actually sell for, you might get a fair idea of what market value is. Most guns listed on GB don't seems to sell, though.
Old Dog
Member
I tend to go by the current Blue Book of Gun Values when I'm doing person-to-person private sales. No less, no more (unless it's something I've gotta have, today -- then I'll make him pay the transfer fee).
Trading in guns to gun shops, they're always gonna offer 40%.
Trading in guns to gun shops, they're always gonna offer 40%.
While offering 50% of the blue book value is what most gun shops do, you're not likely to buy very many in private sales for that price. It's just like buying a used car. There is the used retail value, the trade in value, and the private party value which is likely somewhere in the middle.
There are many benefits to selling a gun to a shop. You don't have to spend the time advertising, dealing with tire kickers, posting photos online, waiting for the right buyer, an you can get money instantly. However, you pay for this when it comes to the amount of money you receive. Some people are willing to take significantly less money to avoid the hassle of trying to sell a gun.
To others, it's worth the hassle of dealing with people, waiting for a buyer to come along knowing it might not be instantly, etc. They know by doing this that they are going to get a higher price. You're not likely to find many people that are willing to deal with the hassle in addition to taking the low price.
There are also options like Gunbroker where most sellers know that they can get full used retail which is often in the 85-90% of new range if not more on there and pay less than 5% in fee's. Thus netting them 80-85% or more of the new cost. So again, most sellers aren't going to take 50% of the new cost when they could sell it pretty easily for significantly more on there.
So while I'm sure there are people out there that have scored a gun for 50% of the new cost, I don't believe it happens very often. It's certainly not what people normally sell firearms for in private party transactions and if anyone was willing to sell it for that cost, they'd likely just sell it to a dealer and avoid the hassle of trying to sell it themselves.
There are many benefits to selling a gun to a shop. You don't have to spend the time advertising, dealing with tire kickers, posting photos online, waiting for the right buyer, an you can get money instantly. However, you pay for this when it comes to the amount of money you receive. Some people are willing to take significantly less money to avoid the hassle of trying to sell a gun.
To others, it's worth the hassle of dealing with people, waiting for a buyer to come along knowing it might not be instantly, etc. They know by doing this that they are going to get a higher price. You're not likely to find many people that are willing to deal with the hassle in addition to taking the low price.
There are also options like Gunbroker where most sellers know that they can get full used retail which is often in the 85-90% of new range if not more on there and pay less than 5% in fee's. Thus netting them 80-85% or more of the new cost. So again, most sellers aren't going to take 50% of the new cost when they could sell it pretty easily for significantly more on there.
So while I'm sure there are people out there that have scored a gun for 50% of the new cost, I don't believe it happens very often. It's certainly not what people normally sell firearms for in private party transactions and if anyone was willing to sell it for that cost, they'd likely just sell it to a dealer and avoid the hassle of trying to sell it themselves.
I buy used guns based on condition and current market value. Sometimes that depends heavily on the new price. Sometimes the two things are virtually unrelated. In general, you are not going to get someone to sell you a used gun for the price that a gun store would buy it for.
People who sell to gun stores understand that gun stores won't pay the actual value since they have to sell it for the actual value and want to make a profit. If such a person wanted to sell a gun to a gun store they would have done so as it's usually simpler than trying to find a private buyer.
The fact that they're trying to sell to a private buyer probably means they want a good deal more than what a gun store would offer.
People who sell to gun stores understand that gun stores won't pay the actual value since they have to sell it for the actual value and want to make a profit. If such a person wanted to sell a gun to a gun store they would have done so as it's usually simpler than trying to find a private buyer.
The fact that they're trying to sell to a private buyer probably means they want a good deal more than what a gun store would offer.
Back in the 1980's I was in the gun business for a short time prior to a divorce. I set up a small shop in my basement so the overhead was minimal. I did gun repair and cleaning, stocked minnows for fishing the nearby river. My purchase amount was 60 to 65 percent of what I believed I could sell it for. I wanted repeat customers and to build the business.
As I read through the comments here and many talk about 50% offers, I am reminded of the local gun shop in town. If he could get by with giving 10% he would try hard to do so. He went out of business at a time when gun sales were booming.
My personal feelings on private sales is that the seller should be willing to take 65 to 70 percent of perceived value. He won't get that at the gun store or pawn shop. On the other hand if it is something you want there is no reason why you should pass it up if it will save you 15 to 20 percent over buying it else where.
Right now it seems to be a buyers market so that should also be considered in making an offer. I just sold a few guns on Gunbroker. I should have sold them a few years back as I would have gotten better money then.
PS: I think your $400 offer was fair
As I read through the comments here and many talk about 50% offers, I am reminded of the local gun shop in town. If he could get by with giving 10% he would try hard to do so. He went out of business at a time when gun sales were booming.
My personal feelings on private sales is that the seller should be willing to take 65 to 70 percent of perceived value. He won't get that at the gun store or pawn shop. On the other hand if it is something you want there is no reason why you should pass it up if it will save you 15 to 20 percent over buying it else where.
Right now it seems to be a buyers market so that should also be considered in making an offer. I just sold a few guns on Gunbroker. I should have sold them a few years back as I would have gotten better money then.
PS: I think your $400 offer was fair
I enjoy the wheeling and the dealing. I may or may not do very well in the deal, but I enjoy the process. I'm all too happy to trade a widget and a little cash for two gizmos and a thingamabob. I'm not an FFL, and I don't do it to make a profit. Then again, I don't do it to lose money, either. I've done a lot of trading/wheeling/dealing/haggling in the last year and a half or so, and it was all to clean out the guns I don't shoot and to replace them with ones I will.
Fairness, though, is not how you "have been treated in the past." I've dealt with some scoundrels in the past who didn't treat anyone fairly. Fairness is offering a price that is in line with an item's market value. Fairness is letting an obviously ignorant seller (such as a little old lady who inherited her husband's guns when he passed) know that he or she has badly undervalued a gun. Fairness is also accepting a good price on a gun when the seller appears to be competent and knowledgeable.
That's a fair offer, IMHO. I suspect that you'll reach a deal that is somewhere in the middle, but $400 is not an unreasonable starting point.
Some of my guidelines for haggling:
1. I know the value of any items on my side of the trade. If I didn't, I wouldn't put them on the table.
2. I'll do my best to know the value of the things on your side of the trade, too.
3. Be prepared to walk away. If you can't walk away, you've lost all of your bargaining power.
4. I don't low-ball. I may not offer full market value right off the bat, but I'll typically offer ~$70% of what I think it's worth. And I expect to wind up a little north of that. If you were willing to accept 50%, you would have headed for the pawn shop. Besides, I may want to trade with you in the future!
5. I don't appreciate being low-balled. See Rule #1. If my gun is worth $500, don't think I'll give it up for $150. I could have done that at the pawn shop with a lot less hassle. Low-balling me like that tells me that either: (a) you don't know the market on my item; or (b) worse, you don't think I do.
6. Don't prey on people. If that aforementioned little old lady has a pre-1964 Winchester in pristine condition and she only wants $100 for it, don't just take it and walk away. Tell her the truth about its value. If she still wants $100, that's her call, but be honest about the value.
bannockburn
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When looking to buy I try to figure on a price that's fair to both parties. I never low ball an offer and pretty much already have a price in mind for what I'm interested in. If I'm selling a gun and don't need the money right away I prefer to find a gun shop that has consignment sales. One that I like using takes 10% from the selling price and handles all of the paper work.
edwardware
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One local business of note had a reliable procedure for buying used guns; the Man would look, open the Blue Book, use a calculator to multiply by 0.75, and make an offer. I never bought anything in there, because everything was overpriced and they acted miffed at offers.
They've now been bought out by my long-time favorite shop, who's always happy to haggle a cash offer or trade.
50% of MSRP seems a reasonable place to start for a used gun. Many people seem to believe that their ownership has added value. . . I typically disagree.
They've now been bought out by my long-time favorite shop, who's always happy to haggle a cash offer or trade.
50% of MSRP seems a reasonable place to start for a used gun. Many people seem to believe that their ownership has added value. . . I typically disagree.
jar
Contributing Member
My guideline regarding what I will pay for some object is really pretty simple. First is it an essential item I cannot do without? If the answer to that is "No" then is there some other object right now that is the same or lessor cost that I want more than the first object? If the answer to that is "No" then the last question is if I have funds set aside for non-essential items to pay for the first object? The answer to that firmly determines what I do.
bikerdoc
Moderator In Memoriam
I work P/T in a small gun store. We only do consignment and charge a flat $50 fee.
I'm always amazed when Goofy Mcdummy comes in and want to list his dirty, scratched, abused, Gen 3 Glock 17 @ $550!
I'm always amazed when Goofy Mcdummy comes in and want to list his dirty, scratched, abused, Gen 3 Glock 17 @ $550!
I find the true value of a used gun to be 50-75% of what a similar new gun sells for. If a new Remington 700 is selling for about $700 I'd expect $350-$550 for a used one just like it. Whether it is closer to $350 or $550 depends on whether I'm selling or buying as well as the guns condition and the cartridge it is chambered for. A gun shop will never be able to give someone $75% of it's value. They are in business to make money. Expect them to offer 50%-65% of it's value, and that is for a gun in mint condition. Expect less for one in rougher shape. You MIGHT get 75% selling to an individual.
BWS
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Interesting term,"lowball"?
I think it's mainly about intentionally making a very low offer trying to snag a deal from someone. In a kind of sleazy intent sort of way.Well,that's the way I interpret it.
There being a difference in making a sincere "low" offer...... for a variety of reasons,none of which are about getting anything "over" on a seller.
So,I usually preface a low offer telling the seller,the reasons for the lower than they may have thought it was worth offer,as a way to keep a dialogue going. Because, I've been on the receiving end of lowballers.... simply fishing. Feeling the haggling,and respecting it,from both sides.....
As posted above,"walking away" is a valuable skill set as both,buyer AND seller.400$ mentioned above is a fair,low offer..... 300$ would've crossed into "lowball" territory and may have needed an explanation to seller. As long as both parties are smiling and talking......good.Soon as either start bristling, state your case/offer as politely as you can and then walk.
I think it's mainly about intentionally making a very low offer trying to snag a deal from someone. In a kind of sleazy intent sort of way.Well,that's the way I interpret it.
There being a difference in making a sincere "low" offer...... for a variety of reasons,none of which are about getting anything "over" on a seller.
So,I usually preface a low offer telling the seller,the reasons for the lower than they may have thought it was worth offer,as a way to keep a dialogue going. Because, I've been on the receiving end of lowballers.... simply fishing. Feeling the haggling,and respecting it,from both sides.....
As posted above,"walking away" is a valuable skill set as both,buyer AND seller.400$ mentioned above is a fair,low offer..... 300$ would've crossed into "lowball" territory and may have needed an explanation to seller. As long as both parties are smiling and talking......good.Soon as either start bristling, state your case/offer as politely as you can and then walk.
redneck2
Member
I know a guy that tries to do this on a routine basis. He literally had the little old widow with guns. Screwed her out of a pristine 1st Generation Colt SAA for $300.
He was crowing about his great deal. Unfortunately I have to do business with him or I’d let him know what a jerk he is.
WestKentucky
Member
I typically see a used gun in good shape bring about 80% of new price. $559 gun, your looking at about 450. At 400 I think your low, but talking. I think his asking price is about where it should be because after haggling he should be expecting to get about 475 tops.
George P
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Stores have to turn around and log it in, check it over, then out it on display and sell it to make a profit. THAT is why they offer you what they do. Sales between two individuals do not fall into the same category
BSA1
member
You don't mention whether this is a handgun or long gun.
UPS sticks it to gun owners with their shipping fee (their so-called added security is a total lie). Handguns can only be legally shipped by the owner via UPS & Fed-Ex $520.00 is not unreasonable.
Handguns can be shipped by a FFL holder only via USPS. Last time I shipped a handgun I paid a FFL dealer $50.00 to send it via USPS which is cheaper (and easier for me) than UPS.
Long guns (rifle and shotguns) can be shipped by USPS at a much cheaper rate so if it is long gun you may have more room to haggle.
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