Why do people ask more for used guns then they cost new?

[Kliegl]

Not wanting to step on anyone in particular's toes, but I've noticed here, and elsewhere, that many people buy a gun, shoot a few hundred rounds through it, except they usually say "threw it" (which I really hope isn't true, because throwing a gun is not a good idea), then list it for more money than you could buy a new one for off of gunbroker or a good gun store.

I think it's because of two reasons. People that don't know buy guns at near the MSRP price, then ask for just under that when they sell it, not knowing that they overpaid in the first place and that they are asking more than it goes for new in some places. Also, I don't think people understand gun values, that 100% still goes for less than unsold, and shooting something 10 or so times lowers the condition to 98%, which is worth less. After a few hundred rounds, and maybe a careless cleaning, the condition is 95%, and is still less.

An example: MSRP on a pistol is 1000, some dude overpays for it at 950. He shoots a few boxes THROUGH it, then his wife says she's pregnant again and he needs cash. So, he puts it up for 900 dollars on a gun forum. Problem is, he never checked gunbroker where they go for 850 new, and he never looked at the blue book to see that, at 95%, the gun is worth 750. Then, he either doesn't sell, or he gets upset when people offer what it is worth, not what he is asking.

Sorry to rant, but it annoys me to see used ads for more than they go for new, because it just causes grief all around.

 

[Zak Smith]

Why should that bother anyone? It only hurts the would-be seller and it's a self-correcting "problem.

To the title question, some guns do appreciate in value.

 

[Cards81fan]

Sometimes, the used price may appear higher, but after sales taxes and such, it is actually cheaper.

E.g. A glock that sells new for $500, costs roughly $545 in Tulsa after sales tax. A used Glock, with say 100 rounds down the pipe, can fetch $500 cash out the door, privately.

 

[Kliegl]

Well, I can't speak for anyone else, but it lessens the availability of appropriately priced used guns, so that's why it bothers me.

I'm well aware some guns appreciate in value, but, as I'm sure you'll note, I mentioned "for more than they go for new" not "more than they went for new," which implies it's out of production and the unsold ones have all been sold to private owners, in which case the price is what the market will bear.

Edit: possibly so, Cards, but I think that it still has more to do with not knowing condition pricing.

 

[scythefwd]

Zak, true, but the ones I'm seeing this happen to are the ones that appreciate in value that quickly. I see NIB glock 17 for 450 and people asking 550 for a g17.

 

[ants]

Just for fun, allow me rearrange a few of your sentences with one edit in bold...

Ok, guy buys a $1000 gun for $825, a pretty fair deal.

He shoots a few boxes THROUGH it

his wife says she's pregnant again

So, he puts it up for 900 dollars on a gun forum.

Then, he doesn't sell

he FAKES getting upset

"Sorry, honey, no one will buy it."
Problem solved.

 

[Zak Smith]

Well, I can't speak for anyone else, but it lessens the availability of appropriately priced used guns, so that's why it bothers me.

I am not convinced this is true. If I have a Glock 17 that I want to sell soon, and I see someone trying to sell one for $550 but it hasn't sold in 3 months, that tells me I need to make sure my pistol is priced to sell. Items on the market that are not selling provide primarily information that the selling price on the supply/demand curve is lower than the listed price.

 

[basicblur]

It's not just guns-my last few vehicles were new 'cuz I could buy 'em cheaper than two year old used models of the same vehicle-same reason 99% of the time I buy new guns instead of used. I always laughed at car salesmen any time I saw 'adjusted market value' on a new car sticker-they always tell me other people pay it, to which I reply, "mebbe so, but I ain't other people."

Patience seems to be a virtue that few have these days, and it apparently costs 'em a bit of money, which they try to recover when they sell-either that, or they're trying to make a bit of money on resale?

I can't believe some of the prices I see folks say they pay for certain guns-not that uncommen to see close to 50% higher than I paid for the identical gun new.

 

[Hypnogator]

Why do people ask more for used guns then they cost new?

Hmmmm. A Colt Peacemaker originally cost around $20.00 new. I'll take all I can get at that price!

 

[scythefwd]

Thanks for the LOL ants

Hypno - thats also not a common gun, with a HIGH demand, and it's collectable as well. Kinda like my pre-war HP. I can get a NIB hp for what 750? I can get 900 for that prewar if I can find the right grips for it. I can get 750 for a gun that is capable of handling less powerful loads than a new one for the price a new one due to age alone (and again, it's getting rare to find one in 90%+ condition)

 

[tarosean]

Keep looking eventually you will find the right gun at the right price.

FWIW Some guns retain their value quite well. Ive got a few that are worth more today than what I paid for them in the 80's. Course inflation probably has more to do with that than anything.

Although I always seem to run into the opposite scenario... Finally find one the hard to find guns on my "Need" list and they are only interested in trades not interested at all in taking my cash.

 

[MMCSRET]

I seldom buy a gun that is still in production. I buy used and pay higher prices 'cuz they don't make'm anymore. Suggested list is simply that, no one is forced to buy a particular gun at any price. If the gun is worth the price in the buyers opinion then that buyer will lay out the money. It is a free market, if you don't want to pay the price then you shouldn't. It don't git no more basic than that!!!!!!!!!!

 

[Tallinar]

Well, I can't speak for anyone else, but it lessens the availability of appropriately priced used guns, so that's why it bothers me.

I really don't think that's the case at all. Some people price high at first to see if they get any bites. If not, they'll be forced to lower it after awhile if they are really intent on selling it. As always, the market works itself out eventually.

If you want to see lower prices - don't pay higher ones.

 

[simonm2211]

I agree with the OP and I think it is mostly the first reason; they overpaid in the first place and they are unaware that you can buy cheaper new. There are a few vendors around that have consistently low prices (e.g. buds, CDNN, a few on gunbroker) and if you cross-check any "deal" against them, you can pretty quickly get an idea of whether it is a good deal or not. But if the seller overpaid in the first place, the first time they might realize they paid a premium is when it sits for a while on the used market.

 

[22-rimfire]

The only time I feel it is acceptable is when there is something special or unique about the gun that is for sale used. An example might be a pre-lock Smith revolver versus a new classic revolver with the lock. Even in this case, the used item is usually less than what you can buy a new unfired one for.

 

[Cards81fan]

Well, I can't speak for anyone else, but it lessens the availability of appropriately priced used guns, so that's why it bothers me.

I would argue that if a gun sells for a given price, listed or negotiated, than it was appropriately priced. The lowest price is not always the de facto "appropriate" price. Like vehicles, there is a range of appropriateness that varies widely depending on the weapon.

Quite simply, the price is what it is.

 

[Kliegl]

Ants, that was funny...I was just thinking up "typical redneck scenario" and didn't mean it that way.

While the market does indeed correct itself, it's just more hoops I have to jump through because of someone else's ignorance. Glad a couple people agree with me, I thought it was going to be another "Moderator disagrees and no one dares to contradict him" thread.

To clarify: Why would someone expect their used gun to sell for more than other places are charging for the same gun new? Other than they are ignorant or looking for a sucker?

 

[Cards81fan]

Ants, that was funny...I was just thinking up "typical redneck scenario" and didn't mean it that way.

While the market does indeed correct itself, it's just more hoops I have to jump through because of someone else's ignorance. Glad a couple people agree with me, I thought it was going to be another "Moderator disagrees and no one dares to contradict him" thread.

To clarify: Why would someone expect their used gun to sell for more than other places are charging for the same gun new? Other than they are ignorant or looking for a sucker?

It's not necessarily about the buyer being a sucker, or the seller being sneaky. It's about buying and selling in a free market. The clearing price reflects all information known about a product, by both the buyer and the seller. If you want a good read, check out The Use of Knowledge in Society by Hayek. It's an article, less than 15 pages.

Edit to Add: If you talk about jumping through hoops to buy a gun at the best price, I suggest you think about having to regularly buying cars or houses. Your gripe makes you sound a bit "privileged."

 

[kurt1305]

Free market principles at work. It's worth what someone is willing to pay. We have a state-wide gun classified site that is a perfect example The same Glock referenced above will sell in minutes at $450, a couple of days at $500 and drop off the list in 30 days at $525 or higher. People scream "overpriced" all the time, but every one of those pistols sell at $500 or so. Sounds like the market has decided they are fairly priced.

 

[Kliegl]

I'll read the article, Cards, thanks. The only privilege I enjoy is working hard for my paychecks and still being single enough to not have a lot of overhead.

Kurt, that's a good point, and my OP was not about what they end up selling for, but rather, what someone asks originally and why they feel their used gun is worth more than an identical new copy from a retailer.

Edit: damn good article. It IS ignorance that results in this phenomenon.

 

[Mike1234567]

Short answer: Because they can... and people will buy them.

 

[browneu]

For the same reason a buyer asks for a lower price on a gun priced fairly.

The seller is trying to get the top price and the buyer is trying to get the lowest price.

Sent from my LG-P999 using Tapatalk

 

[AKElroy]

Some guns used to be made better than thier newer counterparts. I paid what amounts to full retail for a Remmy 1100 made in 1974. It was new in the box, old, (really old) stock. I wanted a fixed choke 2 3/4" only 1100 with really pretty blue & high gloss wood. Going back 40 years was pretty much the only way to get it.

I have also paid significantly for a used Win 94, early 70's, flawless. I bought it from a widow, and she does not remember her husband ever firing it. I could not find any evidence it had been fired.

Ditto series 70 colts, although I have not caught that bug. My series 80 shoots fine.

Ditto ruger 10/22's; lots of folks, myself included, despise plastic trigger groups.

Bottom line, I buy older guns and occasionally pay at or above current retail because, as the saying goes, they don't make them like they used too.

 

[mdauben]

I have seen the same thing, and not just with guns. I have more than once seen outdoors and hobby items on a certain popular auction site listed or even get bid up to more than the current selling price new from the manufacturer. I think in many cases its just an example of impulse buyers that are ignorant of the actual value of what they are buying. :banghead:

This is one of the reasons I don't buy used guns too often. Personally, I would not pay more than 75% current new street price for a used gun even if it only had a box or two of ammo through it. An older or more used gun would drop, in my eyes, to as low as 50% of new value. I'm sure there are people willing to take a chance on buying someone else's problems in order to save $30-40 dollars on a $600 gun, but its just not worth the potential hassle to me. For that trivial savings I'd rather just buy new.

I know there are true bargains in the used market, and if you look long enough and hard enough you will find them. Its just in my experience they are rarities.

I buy older guns and occasionally pay at or above current retail because, as the saying goes, they don't make them like they used too.

This is true to an extent. Right now, I'm in the market for a 2nd Gen Glock 19 because I don't like the current production guns (too many stories of poor QC and even poorer CS). Still, I'm not going to pay current retail for a 10 year old gun, even if I think its better than the current production.

 

[azmjs]

I almost never buy new guns, it isn't worth the markup to me.

Have never really had problems with people asking unreasonable prices for used stuff.