Selling a suppressor

[kelbro]

Say I want to sell a suppressor that's in my name. What's involved?

If somebody wants to buy it, I know they need to submit a Form 4 to transfer but am I responsible for the can until they get the form back?

Would you get the money first and hold the can for them until their from clears or do you sell it and they are responsible for becoming compliant?

How do you get it out of your name, transfer only?

 

[rjrivero]

Say I want to sell a suppressor that's in my name. What's involved?

If somebody wants to buy it, I know they need to submit a Form 4 to transfer but am I responsible for the can until they get the form back?

Would you get the money first and hold the can for them until their from clears or do you sell it and they are responsible for becoming compliant?

How do you get it out of your name, transfer only?

You would have to send the Form 4, and when it comes back you can give him the silencer.

This is why it's generally said that a Silencer is yours for life. No one wants to go through the hassle of paying for the can, and then waiting 9+ months for the paperwork to clear.

It may be a good idea to draft a contract, and maybe put the money into an escrow account.

Do not just sell the suppressor and let them become compliant, because it's still on the registry under your name. That's the worst idea.

 

[kelbro]

Thanks. Thought as much.

Wondering if having a trust makes this any easier.

 

[medalguy]

No it doesn't. Same paperwork but a trust can use e-form which is generally faster to approval date.

 

[Telekinesis]

This is why it's generally said that a Silencer is yours for life. No one wants to go through the hassle of paying for the can, and then waiting 9+ months for the paperwork to clear.

I would agree with this for the most part, but there is a small market for used cans - mostly for people who want a high quality can who want to save some money. I've bought 2 used cans, but they were HIGHLY discounted. I'm talking about paying less for the can than the transfer tax for good quality, lightly used cans.

If you're not a SOT, you'll likely have a difficult time marketing the can to anyone out of state because it will require two transfers (and two taxes) which will likely not make the deal viable.

 

[Arizona_Mike]

It is customary for the customer to pay up front.

Mike