Selling off my collection - trying to "cut the cord"

[breakingcontact]

Got to have your priorities right. Sounds like yours have changed and that is OK

 

[hso]

Thinning mine down so they don't become a burden to my family should anything happen to me. It also has proven to be a lot of fun setting up at the local gun shows looking for the young starting collector to come up and ohhh and ahhh over a few milsurps and letting the right one carry the torch, so to speak.

 

[WC145]

I sold a large number of guns in a few batches over a couple of years not too long ago. They were mostly collectibles, vintage customs, etc.., very cool stuff to own and talk about but they seldom got used or even saw the light of day. I kept the ones I used and really wanted and let the rest go.

I decided to take the money I had tied up in them and put it into my other favorite hobby - cars. I took part of the money and bought a 1966 Ford Thunderbird, which I've thoroughly enjoyed working on a driving. I've hot rodded it up a bit and we take it to car shows and do classic car oriented stuff as a family that we weren't doing before. I'm getting a far greater return on my money now than I was when it was sitting in my safe gathering dust.

I didn't quit guns. Like I said, I kept my favorites and my carry guns. I also took some of the proceeds and had a Colt .38 Super customized for my self and bought a Colt Commander which is being customized for my son. And I treated myself to a new M1A.

I don't really miss the guns that I sold, I still have pictures of all of them, along with stories and memories. And I've found that I was able to pare things down to the guns that meant the most to me and that I use. I'm very comfortable with the current state of my 'collection' and don't feel that I'm wanting for anything.

ETA: I think that if you choose do it, having a goal in mind or a plan for the money makes it easier. If I had just sold all of mine and then sat on a pile of cash I'd have felt like I should have kept the guns.



This is what I turned the guns I sold into-

 

[Sheepdog1968]

As I've gotten older, I find that ones I had to have and own I could quite easily sell. Lately I've been trying to trade (May sell in future) ones I don't use for duplicates of the ones that I do use.

Also, as much as we worry about a huge ban making it impossible to buy firearms, that won't happen. If there is something you sell and you regret you can likely find another one for sale.

 

[SSN Vet]

aside from a jam-o-matic Thompson A.O. 1911 (from the Numrich era) and a youth break action 20.ga single , I've never sold any firearms.....

Guns I wouldn't miss if I sold today....
Muzzle loader I made from a kit
Converted Saiga

The ten or so others were very carefully selected and would only be sold off if I upgraded within that same category.

 

[jmace57]

It's getting started that's hard. At one point I had about 75 firearms and had never sold one. I had started out just accumulating things because I felt like I had made a good deal. Then, I sort of narrowed down my focus to S&W revolvers from the 1920s to 1940s.

About a year ago, I sold about 30 items. Mostly these items I had accumulated (Makarovs, H&R .22s, etc) and duplicates of items I wanted to keep. I had 12 1903 Colts, and sold 7 and kept the best 5. I had 4 WW2 FN 1922s, and sold 3 of them, keeping the best.

Of course, I ended up talking most of the money I got for them and have bought another dozen S&Ws!.

But again, it was selling the first one that was hard. Ask me when I start selling my S&Ws!

 

[redneck2]

At 64 YO, I've gotten to the point that I'm getting rid of quite a few of mine. You can only shoot one at a time. I've still got ones that I haven't shot in 15 years. Time for them to find a new home.

Ones that I have a use for I keep. MY S&W Shield that I carry, my turkey shotgun, deer and antelope rifle, etc.

The "cool" stuff, it's gone or soon to go. I don't show off my guns as I don't want anyone to know what I have, so what's the point?

 

[wally]

I've no children or heirs living in free states, My will leaves my collection to be split between the NRA and TSRA. I'll sell them if I need to, will gift some, but I don't envision a mass sell-off unless a universal background check requirement law will take effect -- just to spite the antis!

 

[glockrex]

This is a great thread. It is good to think about what legacy you will leave behind. Not just guns, but all your worldly possessions. I've been thinking about this the past few years. Also, for those who don't have heirs has anyone donated guns to the NRA legacy program?

 

[Lycidas Janwor]

Over the past 25 years, I've accumulated a pretty decent collection of firearms. For various reasons, it's time to divest most of it. Some items are "just metal," but others have some significant sentimental or intellectual attachments. And it means getting rid of a hobby I've had for a quarter century.

I was going to post something asking how some of you might have "come to terms with it." But, I guess the bottom line is that sometimes you gotta dig in and just do it.

Have any of you ever to give up a sizable collection?

Unless you have some kind of emergency or something similar, why would you liquidate your collection?

 

[TRX]

I have several NFA items. Since I have no relatives, my will is somewhat elaborate, giving them to friends who mostly live in other states. My will gives them an outline of the current responsibilities and liabilities for owning such things, tells them how to find the current state and Federal regulations, and if they don't want it, let the executor know within a month so he can contact the next person on the list.

 

[Twiki357]

I’ve been thinking about liquidating a few. Like a Marlin 30/30 that I bought back in 1963 for a hunting trip. Got my draft notice and couldn’t go. Other than periodic cleanings, it’s been collecting dust ever since. Then there’s a few semi-auto’s that I like, but they never seem to make it into the range box.

 

[orionengnr]

Have any of you ever to give up a sizable collection?

I'm not sure I would call my collection "sizeable", but that aside...
Not yet, but it's inevitable. We don't have any kids, I am approaching 60, and one day I will drop dead and leave the wife with a bunch of stuff to sell (guns, reloading equipment, components and five motorcycles/related gear...big toolbox, big compressor, multiple stands, etc)...which she would probably sell for 1/3 actual value. That would be unfortunate for her and annoying for me to consider.

So, at a certain point (hopefully before I drop dead) the responsible thing for me to do is to sell most of it, ideally a bit at a time, as I no longer use it, for its actual value, and put that money in the bank so she can spend it after I'm gone.

I'm still working on the plan, but as I say, it's only a matter of time...

If you are in a similar situation, good on you for thinking it through and doing what is best for your wife. Believe me, you are not doing her any favors if you fail to take care of business. Imagine your sudden demise, lack of income, bills coming in, and maybe having to move...and get rid of all that "crap". At her time of grief, she would be at the mercy of many vultures who would say "I'll take all this crap off your hands for $1500".

Best regards, Rich

 

[glockrex]

I've been through a number of gun buying panicks. Wait until right before Hillary is elected, then unload your stuff for a premium.

 

[grter]

Have you ever considered cacheing them in a hidden location packed in grease preservative or something of that nature in case you ever want to retrieve them?

That would be my advice. I don't know why you would want to quit the hobby (more of an addiction than hobby?)

The best thing is to just get rid (sell, give away, whatever) of what you don't need and keep what you do that means a small number (a much smaller number) and again what you need does not always mean what you like since that would probably be most of your collection.

I am with you all the way as long as I don't see you popping up some time later at an antigun rally demanding the feds restrict guns because you don't want to be tempted to start collecting firearms again. Just kidding right.

 

[jcv]

A few years ago I decided to get rid of anything I hadn't fired in over a year. Some went to family and some went in trade for guns I would actually shoot. So the herd's thinner, but more active.

 

[Clint M]

wc145

Is that slash (Guns n Roses) on the white grips smoking a cigar ? Slash always smoked cigarettes !! From my era the man who made the top hat famous, and the best rock band to have ever performed on stage, we are in dire need of some rock n roll

 

[tarosean]

Unless you have some kind of emergency or something similar, why would you liquidate your collection?

Interests change... I sold off 99% of my long guns and shotguns when I took up Bow Hunting. There were dozens of guns I hadnt touched in decades. Even the long guns I kept I havent shot in years because I primarily shoot pistols now.

 

[ID-shooting]

Have you ever considered cacheing them in a hidden location packed in grease preservative or something of that nature in case you ever want to retrieve them?

This just gave me an idea. Preserve, bury in a secure location. Leave a set of intricate clues to follow (think movie National Treasure). This insures only the "smart" kids/grand kids will inherit bits of the collection.

Back to the OP. Being one of the ones to go through the "big layoff season" in '05-'08, TWICE, I did have to sell off some to keep the house payment current and food in the house for the then 2 year old. It kept me from taking food stamps, welfare, and we survived.

I am secure in my employment now and have things back to rolling along smoothly. Some things won't come back, but those hobbies aren't related (motorcycles and such). Back into the mil-surp game but changed the plot slightly.

So, ya, if you must sell to keep you family above the red line, by all means. No one here will think less of you. Sell becuase you lost interest, that is fine too. To each their own.

Your toys, your option to clean out your toy box.

 

[Charles S]

I have several hundred firearms and as i get older have concerns as to the disposition of them. I am very adamant that a mass sell off does not occour consequently i have moved/given a lot of them to my close friends knowing the weapons will be preserved and if i choose to "borrow" one the firearms it would be readily available. Many of the weapons have historical value so i have begun a record for each indicating known history, Colt SAA, Winchester lever rifles and carbines and many WWII era firearms fall into this area of concern. Hopefully my distribution will ensure the weapons are enjoyed for many years after i leave. Just my thoughts on the subject.

What an outstanding plan and post!

I was suddenly hit with a devastating diagnosis and many thousands of dollars worth of medical related expenses and a reduction in my self-employed earnings, all coming at a time right after a major home project depleted our savings. Sort of a perfect financial storm. I sold much of a nice collection including some of my father's guns (Belgian Brownings, old Colts etc) that I inherited. I reasoned that even Dad would want me to do what I had to do to keep my house and affairs together.

I did what I had to do.

The diagnosis was later determined to be INCORRECT. The Good? The bills were paid and I have my health back. The Bad? I can't ever replace most of what I sold. That's the part I can't forgive the "medical experts" for screwing up. That and the proper treatment that ultimately restored my ability to function was delayed by over a year.

I am sorry. Keep in mind medicine is an art and science and we do get things wrong. We do the best we can and anguish when we are wrong.

The good news is your health has been restored.

WC145 What stock is that on your M1A? I like it.

 

[huntsman]

Have you ever considered cacheing them in a hidden location packed in grease preservative or something of that nature in case you ever want to retrieve them?

My dad did that with his handguns before he went to war, it took him 10 years to make it back to the farm and he never did find his cache.

 

[musicman10_1]

I've had to sell a few firearms of late due to financial issues. It is hard to do but it has been good for me to really evaluate my collection (not thrilled with that term) and to solidify which ones truly are keepers.

As many have stated there was a lot of fun to be had in the pursuit of certain guns or accessories. Often, though, the end result was a gun that did not get shot and just took up space in the overcrowded safe.

I'm still in the process of eliminating some or determining where to "upgrade" so that I really do have what I want rather than simply having what was available at some point in time.

 

[happygeek]

I've done a little side math - and blued steel has been the best return on investment in the last decade. Some upwards of 1000% increase. No other retirement out there can beat that. That's my plan. What other investment can you make where you purchase something. use it - and it still manages to increase in value?

I must admit I'm curious to see the math.

 

[Arkansas Paul]

Well, I cannot think of a situation where I would sell off the majority of my stuff. I can see trading or selling one to fund another. I've done that a few times. But I have 3 firearms that have sentimental value to me and I cannot fathom ever getting rid of them.

However, in the OP it sounds as though he has little choice in the matter. Bottom line, people matter more than guns, or any other physical object. I wish you well friend, whatever road you're going down.

As for the guys saying they're selling off part of a large collection because you realize that you're not getting any younger, I can certainly see that. I'm only 34 but I could certainly see doing that in 25-30 years. I do have relatives younger than me that will still be around to enjoy them, so I would probably pick several quality pieces that would last a few lifetimes to pass down and sell off the rest, keeping the sentimental stuff in the family.

 

[WC145]

wc145

Is that slash (Guns n Roses) on the white grips smoking a cigar ? Slash always smoked cigarettes !! From my era the man who made the top hat famous, and the best rock band to have ever performed on stage, we are in dire need of some rock n roll

I don't think so, Slash is ugly but not quite bare skull ugly. He is a helluva guitar player, though!
I believe this pic was the inspiration for image on the grips. The work was done by Tommy 2 Feathers, the grips are giraffe bone.

WC145 What stock is that on your M1A? I like it.

That is an Archangel 'Precision Adjustable Stock'. I like it a lot, very comfortable and stable from all shooting positions. This year Springfield started offering a version of the Loaded M1A that comes with that stock from the factory - http://www.springfield-armory.com/products/m1a-loaded/. They have them in FDE now, too.