Opinions wanted on my LGS experience

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ATBackPackin

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Yesterday I went to a LGS to get an extra magazine and to look at holsters. This shops prices are a little on the high side, but the employees are always very courteous and helpful which is very important to me. Because of this I was planning on purchasing my next gun there even though I surely could get it cheaper else where, but I would like to show them my appreciation by patronizing their business.

So while looking around at holsters a guy in his mid to late 20's came in trying to sell his Ruger SP101 .357. He stated that he bought it there just a few weeks ago, but is moving to Maine (that day) and could really use the money. I'm pretty sure this gun retails $500 to $525 at this shop. The seller added that when he bought the gun he also bought one box of ammo of which he didn't even fire the whole box, but for some reason he didn't bring the box the gun came in. So we have a Ruger SP101 that is less than a month old, with less than 50 rounds through it, and no box. The guy offers him $250 for it and if he had the box he would give him $300. He went and got the box and they gave him $300.

I would be extremely surprised if they sell that gun for a penny less than $450. I know this is a business and they have to make a profit but wow.

While I'm still there another guy, probably in his late forty's, comes in with a rifle and a handgun. Turns out he has a big bore Savage bolt action with wood stock that looks like it's in very good condition. He also has a Beretta 92 that looks like it's in pristine condition but while checking it out they find that the guide rod and recoil spring are missing. The guy says he hasn't used either gun in years and has no use for them anymore so I assume that the last time he cleaned his gun he probably forgot to put the rod and spring back in. So naturally the employee tells him they would have to replace those parts before they could sell it. The seller said he understood and that he has no use for the guns anymore and just wants to get rid of them.

Guys I swear what I heard next almost made me spit Mello Yello out of my nose. They offered him $215!!!!!!!!!!!!!!!

FOR BOTH GUNS $215 and unfortunately the guy took it. I literally had to bite my tongue so I wouldn't speak up and offer him more.

So my question is would you do business with these people? I know it's a business and they need to turn a profit, but seriously I would think they would offer a little bit more fair market price. It really seemed like to me that these guys were just taking advantage of the situations. I like to do business with honest people and this seems borderline dishonest. Or maybe I'm just naive.

OK I asked so let me hear your opinions.

Shawn
 
They offered what they were willing to give. It was the sellers who set the value of their pieces by accepting their offer. Nothing unethical going on. If I was happy with the way they treaded me and they had what I wanted for what I was willing to pay,then,yes I would continue to do business with them.
 
Unless they forced the sellers to take their offers at gunpoint I'd say don't base your shopping decisions on a business doing what they need to do to stay in business.
 
What does a gunshop pay for a new SP101 from their distributer? They will not pay near that for a used one. Half a box of shells, or 100 boxes, its still a used gun to the gun shop.
 
It sounds pretty normal for 'wholesale' offers. Given how thin the profit margins are on new guns, the dealer has little choice but to make a larger profit margin on accessories and used guns.
 
Look at it from a different perspective. If a LGS has a sale, and offers ammo 50% off, would you protest before buying any? Of course not. They offered it at a price, and you took advantage of that. How dare you!

The gun store made an offer. The seller accepted. This is the free market system. They both had the option of saying no. My opinion? Win for the LGS.
 
Well I am not sure if it applies to gun shops, but IIRC the standard retail markup for clothing is 100%. So if a store is selling you a shirt for $100, then they probably got it from a wholesaler for $50.

So if they are indeed going to price the used SP101 at $450, then I think buying it from the guy for $300 actually seems quite generous.

As far as the other deal goes, I don't really know what those guns are worth without the missing parts, but the LGS made an offer, and he took it ... nothing wrong with that.

I also don't see anything wrong with you speaking up right there in the store and offering him more for them.
 
Well I am not sure if it applies to gun shops, but IIRC the standard retail markup for clothing is 100%. So if a store is selling you a shirt for $100, then they probably got it from a wholesaler for $50.
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Apples/oranges comparison. Today's clothes will be outmoded 6 months from now, and worth essentially nothing...okay, maybe 25 cents on the dollar...probably not.

That SP101 is worth as much today as it was a year ago, and probably more. Give it another year, and it will be worth more yet.

That said, by definition, a fair transaction takes place when seller and buyer agree on a price (providing there is no "distress" on either side).
In my experience, a fair selling price for the SP101 is ~ $400. Given that the seller may have to sit on it for a while to actually sell at that price, the $300 offer was not out of line (IMHO).
 
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Oh yeah, I definitely do business with this shop.

Especially knowing that they buy in their used guns at such low price.

On the spot I would have offer to buy the Ruger Sp101 at 350, that way the gun shop make 50 bucks on the spot, and I walk away with a good deal. That's if they do decide to sell it.
 
Imagine if guns were books.

What has happened to the smaller bookstores with the advent of the internet and the mega-retail-bookstores?

Actually, I look for any excuse to support my local gun store.

(You know what I mean.)

gd
 
Gun shops purchase guns at roughly 60% of the "Blue Book" listed value so that they can make an average profit over the guns that turn in a day vs. the ones that tie up capital for 90+ days. That's for an as-new-used firearm. Remove the box and papers or any part or put any discernible wear on the firearm and you're going to be offered 60% of that devalued value.

Try thinking of it this way, drive a new car off a lot and back and forth to work for just a few days and see what the dealer will give you for it so they can put it on the used lot.

I also don't see anything wrong with you speaking up right there in the store and offering him more for them.
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n00b_71,

Just so you know, that is considered a gross violation of gunshop etiquette. If the individual refuses the shop's offer you should wait for them outside of the business and ask if they'd be willing to sell the firearm for a given price. After all, the shop owner has to pay all the bills associated with keeping their shop open and attempting to outbid them in their own shop is considered akin to poaching.
 
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Just so you know, that is considered a gross violation of gunshop etiquette.
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That does not surprise me at all. I was thinking of it more from a theoretical/ethical perspective rather than good vs. poor form.
 
For the life of me I can't understand who was buying and selling guns at the Louisiana Geological Survey offices in Pennsylvania?

As for selling a gun without the recoil spring and guide, they did him a kindness. It doesn't sound like he needs to be disassembling firearms.
 
The shop in question has the right to make any offer they wish, and the seller has the right to accept or reject any offer. That being said, make them an offer on the Ruger now that you know what they paid for it.
 
Take Advantage

I think what ATBACKPACKIN is struggling with is did the LGS take advantage of the unknowing and illinformed seller by offering less than fair market value. I agree with previous postings the buyer offered the seller a price and the seller accepted. If the buyer misrepresented any facts then there is an ethical issue.
 
I also don't see anything wrong with you speaking up right there in the store and offering him more for them.
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That is an excellent way to get thrown off the premises and told not to return. If the guy with the SP101 had declined the dealer's offer and left the store, you can follow him out and make the offer in the parking lot.

Usually when you make an offer on a used gun the seller counters, which is why the initial offers were low. The amount of the initial offer will vary based on the gun's condition, popularity, whether or not there are any in stock, etc.

Also, if the sellers hadn't needed the money immediately they could have asked the dealer to consign the guns instead of buying them outright. You end up with a little more money in the end, but not until the gun sells. Dealers don't mind doing it because they can sell a gun without tying up any of their own capital.
 
I sometimes see the same thing, a very low offer on a pretty nice gun. It makes me think the LGS doesn't want to buy the used gun.
 
Most shops I know won't pay more than 50% of Blue Book for a gun someone is looking to sell and that's only if it's something they feel they can move relatively quickly.

More importantly, regardless of what the shop offered those guys neither of them had to take it.
 
If I had the money in my pocket and room for an SP .357 I would have ponied up. If Mr. gunshop guy didn't like it he can suck eggs ! Fair is fair and business is business ! If the dumbasses ask you to leave at least you'd leave with a smile. You won't have any trouble finding another shop who will be happy to take your money.
Assuming there is a FTF law in your state, no law broken, no problem.
 
Fair is fair and business is business !
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Not if you are bidding against the house while IN his house! The seller approached the LGS and offered to sell to HIM not to you! Only AFTER the LGS has declined to buy and the potential seller leaves his store is it fair game.
 
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