A buddy low on cash was going to use a Remington 700 heavy barrel target rifle in .308 and a second one in .223 as down payment on a car at a used car place. I told him I would give him how ever much the used car place would give him for them AND let him buy them back within a year. He never did.I posted a couple of want ads in which I offered to let the sellers have the option to buy back the firearms for the same price I pay for them after 90 days. There will be little risk for me, as I will only pay a price that I would willingly pay if sellers don't want to buy them back.
Part of the motivation for this, are a couple of purchases I observed recently. Two different handguns were bought for very cheap prices. The sellers were not given the option to buy back the firearms at the price the buyer paid. I am betting that these sellers will have regrets a few months down the road and wish they could buy the guns back.
Has anybody here been on either side of a transaction where seller was given the option to buy the item back for same price that was paid? Were you satisfied with how the deal worked out?
This ^^. When dealing with an uncommon gun or over a long period of time, there can be financial nuances involved in the concept. Which might lead to conditions. Such as, "Yes, you may buy it back but not at the same price because I could sell it for a lot more money now." (Not to mention the fact of the time value of money). You'd have to evaluate this to your own taste if it involved a friend.An exception would be "I found someone who will pay me more money so I want it back" as opposed to "I just realized that it was grampa's hunting rifle and my brother wants it".
Good points.As you've witnessed, there are people out there willing to dump their guns for cheap - for whatever reason (need cash, not into guns anymore, inherited some old gun they want gone, etc). They likely aren't super interested in doing the due-diligence to research values, prep gun to get the most out of it, find best means to sell it for highest profit, etc...they just want it gone. Convenience is worth more to them than getting top dollar.
Those people likely aren't regulars on NWFA.
These people walk into pawn shops and gun shops daily, trying to off load what they have.
They show up at "gun buybacks" excited to turn their gun into a $100 Fred Meyer gift card.
Trick is how do you find/come in contact with these people?
Maybe try advertising your offer on sites like Nextdoor or some buy/sell groups (probably against their terms & conditions) or getting in with a company doing Estate Sales (no need for 90 day buyback clause here)??
True, you might find willing sellers here on NFWA, but it'll probably be like fishing at noon in shallow waters in the middle of August. Fish aren't biting here.
Either way, good luck.
I will be happy to buy it with no option to sell it back to them. I have done that plenty of times and want to try something different. Nobody will be forced to sell their firearm and nobody will be forced to buy it back. It's just another option for people who might regret selling their firearm.So the OP gets all the advantage while the sellers get to “loan” their guns out at a cheap price? Is that what this is?
This is not a pawn operation. Pawn shops charge interest and make money. I am not a business. I am a guy who wants to buy cheap firearms for my own personal use.So you’re trying to use NWFA as your own personal pawn shop? Without a business license or Supporting Vendor status?