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

[wally]

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

It really all depends on the actual guns in questions, but its easy to do. Put what the gun cost way back when into one of the on-line inflation calculators and then compare this to what the selling prices are now. Then you can figure the rate of return over the years (positive or negative).

The $80 SKSes have done better than inflation by a couple of percent which is better than most savings accounts have done.

But the situation is so messed up now, that we get way more in "cash back" rewards from putting everything we buy on the credit card than we do in interest on the cash that backs the card to get the "bonus rewards" tier.

 

[wojownik]

There are lots of reasons why someone want or needs to pare down a collection. I won't go into my particular reasons, but in general, offhand:

• Narrowing a collecting focus (e.g. when you've got several collection themes going at once, and want to re-focus).
• Moving on to other interests (I like the T-bird example - that plays to my impending mid-life crisis very well LOL).
• Have too many to store and/or maintain (when you're wife opens the closet door, and gets buried in a milsurp avalanche, that might be a hint).
• Want to get rid of things you don't use, or just don't enjoy as much as others
• Want to get rid of duplicates
• Financial - need cash or looking to cash out on a collection
• Health
• Family reasons

 

[375supermag]

Hi...

i had to sell off some pretty nice firearms back in 1990 due to a divorce.
I miss every gun I sold...don't miss the ex AT ALL!


Built up a new collection over the last quarter century. Now at the age of 60, I am still trying to further increase my collection. If for no other reason, to leave them to my son as tangible reminders of hundreds of days spent hunting and shooting together at the gun club.

 

[ConstitutionCowboy]

You know that old saying about giving a man a fish and you feed him for a day but teach him how to fish and feed him for a lifetime? You can give a man a squirrel and feed him for a day but give him the means to hunt and you feed him for a lifetime. I won't sell a gun for a day's or a week's worth of food when I can put meat on the table for a lifetime with it.

Woody

 

[Archie]

One must have a plan.

I am now sixty-five and have a - serious (?) collection. I'm in good health and such, so I'm not thinking of quitting anything. I enjoy shooting (various disciplines) at my club and still so some research in ballistics and reloading and such.

However, I've seen enough of life to know to plan an exit strategy. I'm getting rid of 'extra' stuff. Sorting out my clothes and such. Figuring out what guns I can sell, what I want to sell. I need to talk with my heirs about what interests them. Who prefers cash - they can make their own mistakes that way.

I want to leave the least mess when I go. As I said, no reason to believe it will be this week, but I could get hit by lightening on the way to church in the morning. I know my eternal destination - the Lord is most comforting in that regard - but most of us don't get our graduation date very far in advance.

 

[22-rimfire]

Been considering selling some of my collector grade Colts. As mentioned earlier in this thread, selling is inevitable if I live to see it. Certainly I am more likely to sell at higher prices than my wife who knows absolutely nothing about firearms. Like I said.... it is a matter of time and some people will be getting some really nice stuff.

 

[Bullet Bob]

I'm in my 60's, I've sold a few over the last couple of years, would like to sell more, but I like them, and selling, to me, is a hassle. Don't like shipping, don't want to advertise locally for security reasons.

I could rent a table at a gunshow, still considering that. Wish I lived near the seller "Jack the Dog" so I could consign them. I contacted Rock Island Armory at one point, but have my reservations about that.

 

[Dean1818]

I have become less and less emotionally attached to the guns that I own

I do always have a new gun Id like to acquire.

If one doesnt get shot often, it goes to gunbroker

Also
The deal with the wife is, if a new one comes in ...... one goes out

 

[gandog56]

Nope, best I have ever done is sell one of the more common models in my collection to help get the money for a more expensive model. For instance, I just sold a Chinese T53 Mosin Nagant so I could get a Finn M39 with a Sako made barrel.

 

[happygeek]

It really all depends on the actual guns in questions, but its easy to do. Put what the gun cost way back when into one of the on-line inflation calculators and then compare this to what the selling prices are now. Then you can figure the rate of return over the years (positive or negative).

The $80 SKSes have done better than inflation by a couple of percent which is better than most savings accounts have done.

Maybe I should have said I'm curious to see examples. Unless I'm horribly mistaken on the math, 1000% in 10 years means the selling price was 10x higher than the buying price. So if the SKS was bought for $80 (ignoring sales tax and possibly shipping cost) it'd have to sell for $800.

 

[Saw-Bones]

My Greatest Fear

Someone once said that his greatest fear is that when he died his wife would sell his guns for what he told her he paid for them!

I am winnowing the field of guns that I no longer shoot. I’m cataloging the keepers with photos, specifications and references to publications for valuation, so when I die my wife will have the necessary information to minimize being taken advantage of.

I particularly liked what Archie had to say regarding preparation:

“I want to leave the least mess when I go. As I said, no reason to believe it will be this week, but I could get hit by lightening on the way to church in the morning. I know my eternal destination - the Lord is most comforting in that regard - but most of us don't get our graduation date very far in advance.”

 

[deadin]

Sold off these two collections a number of years ago and have regretted it ever since.....

 

[Lycidas Janwor]

Wow!

 

[wally]

Unless I'm horribly mistaken on the math, 1000% in 10 years means the selling price was 10x higher than the buying price.

I've no idea where the 1000% in 10 years comes from, but some SKS variations did sell at $800 shortly after the Sandy Hook panic started.

According to the BLS CPI inflation calculater what $80 in 1980 would buy would cost $230 today to match inflation, or $80 in 1990 would be $145 today. The cheap Chinese SKS were pretty much gone by 1997 if I recall correctly, most of mine were purchased circa 1990-1994. The most I paid for one was ~$190 for a Russian Tula laminated stock model.

I picked up a couple of Yugo SKS for ~$150 each circa 2005.

Not looking to buy or sell any SKS at the moment, I've not paid any attention to current prices.

Compare this to last years Smart Phone model

 

[happygeek]

I've no idea where the 1000% in 10 years comes from, but some SKS variations did sell at $800 shortly after the Sandy Hook panic started.

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?

That's what I meant when I said I'd be curious to see the math, or should have said curious to see some examples. Being a younger guy I've heard about the $80 SKSs on teh interwebs, but like you said that was in the early to mid 80s.

 

[bannockburn]

deadin

Wow!! I feel for you as either of those two collections (looks to be one collection of mostly S&W revolvers and the other of mostly European semi-autos from the early to mid 1900s), would be sorely missed. I do indeed feel your pain and regret.

P.S.-If I could have kept one gun from each collection I would have taken the S&W .44 American and the Bergmann-Bayard.

 

[deadin]

P.S.-If I could have kept one gun from each collection I would have taken the S&W .44 American and the Bergmann-Bayard.

I actually did keep one from the S&W collection. The .455 Triple Lock is engraved with the original owners name. (A RAMC Doctor from WW1).
I also have replaced about 5 of the other collection, but I will never be able to replace them all......

 

[Scooter22]

No but I also have been thinking about thinning my collection down. It was fun finding them especially for good prices. But I can only shoot so many and it seems I go back to a certain dozen or so most of the time. The rest are quietly sleeping in the safes. Today's hectic and complicated lives leave precious time for shooting. The ammo and reloading components shortage/prices is a double whammy.

 

[Swing]

Along time ago, in a galaxy far, far away, I had to sell most of my guns. I didn't have many by today's standards, but it was a necessity then. But I rebuilt with gusto.

Now? Not so much so. I have had tastes shift, so I've sold off some pieces to justify buying others, and because they no longer did anything for me. The last couple of years, I also decluttered my gun "stuff" and, in doing so, sold of anything that was junk. That and I sold off a real nice rifle that I just couldn't justify it's continued feeding of expensive ammo.

So (shrug), yes and no. I've known guys that needed to sell most of their collection for finances, and others because they realized it had too much of a hold on them. I can respect both reasons.

 

[slumlord44]

I am 70, in good health physically and financially and am still actively collecting. Sell some to buy more but no plans to cut back as long as I am having fun with it. Have a plan for a local dealer to sell them all on Gunbroker after I am gone. He will do it for a fair fee and my wife will be happy when she gets all the checks. This plan could change if my health ever goes south. Hope to keep moving till I die.

 

[wojownik]

I'm thankful my desire to pare down is more about physical space and freeing up some cash, more than anything else. Having started this thread, I'll update y'all with my new strategy to paring down my collection.

My first step to selling off some of the collection, was to buy a brand new Colt Series 70 yesterday. Screaming deal - should get it a little later this week. (How's that for compete lack of self discipline but a Series 70 at the same cost as a Series 80? Couldn't pass it up.).

But to offset my renewed focus on 1911s, I'm going to start by getting rid of at least enough items (like those I have not touched for 5+ years) to offset the cost of the latest 1911.

 

[B2Tall]

While I've often felt a twinge of guilt by selling off "members of the family", I have a steadfast rule that goes a long way to assuaging those feelings of regret - the money I gain from the sale always goes towards something firearm-related.

 

[JTHunter]

About 41 years ago, I "traded" an early Ruger .22 semi (Mark I ?) for a .380 pistol which I still own.

In the late '80's, a "local yokel" told me to come out to his cruiser (from private property) and bring the Marlin Golden 39A .22 levergun that was slung over my shoulder with me. When I did, he arrested and confiscated the gun and I ended up losing the gun in the subsequent court case. :banghead:
Those are the only two I no longer have.

I currently own 2 shotties, 6 rifles (3 RF & 3 CF), and 7 handguns - but one is "retired" as the cylinder doesn't properly lock-up.

With the two acquisitions I have made this year, I believe that I'm about where I want to be. I may inherit another .22 rifle and a .38 Special but they will fit in with the others.

 

[P5 Guy]

I liquidated all the P'08s, P38s, K98k/M48s, #4mk1, and so on.
I will get down to one centerfire and one rimfire rifle, one 12 gauge, and I'm still up in the air on a centerfire handgun. I'm always keeping the S&W17 for my one rimfire handgun.

 

[mgmorden]

I skipped most of the rest of the discussion after the first page, so you may have covered this, but it sounds like you're in a situation where you HAVE to sell them all, rather than you just wanted to get rid of them.

Personally, I'll never understand people who just on a whim decide to sell most of their guns (to me getting what I have has been ~15 year quest now). HOWEVER, there's more to life than guns, and by all means if you've fallen on hard times and have bills to pay, children to feed, etc, then I'd sell off everything needed to cover it in a heartbeat.

If at all possible I'd probably keep at least one to hunt with (a cheap 12ga can pay for itself pretty quick there), but other than that there's nothing I couldn't part with if needed. Do what ya gotta do.