How to price a used firearm?

AlanR · Jun 23, 2011

Is there a generally accepted % reduction from the current retail price when selling a used firearm? Granted, condition and use come into play but I would like an idea on how best to price (a balance between a good purchase price and fair sales price).

Thanks.

24ARTucker · Jun 23, 2011

well from my limited experience you have to do a little research on the product and make a general determination of the price that will be considered reasonable

yotehunter · Jun 23, 2011

look at some prices on here it is worth more after it is shot

Do some research on a item then price it accordingly

Gaust · Jun 23, 2011

I research a few places to get an idea of the going price. Gunbroker's completed auctions, the auctions that actually sell, and any specific website(s) related to the manufacturer or specific gun if possible. Then I look here for the regional price and adjust for any difference.

The B · Jun 23, 2011

nobody ever wants to sell something for less than it's worth- it's perfectly natural and acceptable to price something higher than most guys would wish it was priced. it basically just depends on how desperate you are to move something. if it's in "good" condition, and you can sit on it for a while, try for 85ish% of new value... if you're trying to unload it quickly, 70-75%, depending on how in demand the item is, will probably move it in a week.

the board you advertise on will make a huge difference. i've posted very expensive bubblegum for almost new price on other boards and had it sell in 15 minutes... the same item could sit here on NWFA with zero inquiries for weeks- this site caters more toward the working man, not the elitist.. hence, elitist-priced bubblegum usually doesn't move well here.

AlanR · Jun 23, 2011

Good information...thanks!

saxon · Jun 23, 2011

Gaust said:
I research a few places to get an idea of the going price. Gunbroker's completed auctions, the auctions that actually sell, and any specific website(s) related to the manufacturer or specific gun if possible. Then I look here for the regional price and adjust for any difference.

i agree look at a place like gun broker and look at the completed auctions to se what things are being sold for
this will also help them that want to buy a gun and see if it is really a good price or not

DoubleTapDrew · Jun 23, 2011

I usually will sell for around 75% of the new price if it's in great condition. However if you sell it on gunbroker I think it's customary to ask 125-150% the price of a new one.

The B · Jun 23, 2011

DoubleTapDrew said:
I usually will sell for around 75% of the new price if it's in great condition. However if you sell it on gunbroker I think it's customary to ask 125-150% the price of a new one.

SELL for and ASK for are two different things, though... i'll generally sell for ~10% less than i'm asking, expecting people to barter. i always list my stuff as "OBO," and i know for a fact that most guys will buy things they only sort of want if they feel like they've talked you down pretty good. 'cause i'm just a susceptible to the "too good to pass up" effect myself, sometimes. :winkkiss:

Spitpatch · Jun 24, 2011

There is no "general rule of thumb" for pricing a slightly used gun toward comparison to the new price. It depends on the gun and the market for it. Not extremely rare is the case where a slightly used gun (still being manufactured) can actually bring MORE than it's top retail price: usually because the gun is not easily available new. An old example would be the Smith 29 for the few years just after the "Dirty Harry" movies ran. If you were willing to wait, you could get a brand new 29 for about $500. On the market, and if you wanted it NOW (because you just wanted to say, "DO YA, PUNK?" before you pulled the trigger), you'd have to pay $600-750 for a good used one. A more recent example is the Marlin levers in .357 or .44. The Marlin factory shut its doors. Remington (and parent) bought the name, and are making the guns, but the Marlin fans are paying more for a true Marlin (even well used) than they will pay for a factory new one that is not out of the old New Haven factory. (Whether or not the quality differs.) Another recent example is the Shiloh Sharps guns. Nearly a two-year wait for a new gun out of the factory. Slightly used ones on the current market can bring more than factory price, because the purchaser does not want to wait.

Shyster gun dealer story: Shortly after the Winchester factory shut down, I sold a like-new Model 94 .44 Magnum to a dealer at a Portland show. I'd had the gun for two years, shot it quite a bit, but took good care of it. I asked a fair price, not exorbitant, based on the fact that these guns were going up in value fast. It had extras: ghost ring peep and front blade replacement sights, but I still had the original buckhorn and front, and included them in the deal. Later, when I was making my final pass, I went by that table, and saw the gun in a Winchester box with papers (neither of which I had sold to the dealer). Sign said "new in box", and a markup 40% over what he'd bought it for (20% over retail). (He'd put the original buckhorn and front sight back on.)

I extended my stay at the show for a couple hours, hung out near his table, and would quietly inform each person interested of the gun's true history, then watch the fireworks. That dealer still looks at me with knives out of his pupils.

madcratebuilder · Jun 24, 2011

Spitpatch said:
Shyster gun dealer story: Shortly after the Winchester factory shut down, I sold a like-new Model 94 .44 Magnum to a dealer at a Portland show. I'd had the gun for two years, shot it quite a bit, but took good care of it. I asked a fair price, not exorbitant, based on the fact that these guns were going up in value fast. It had extras: ghost ring peep and front blade replacement sights, but I still had the original buckhorn and front, and included them in the deal. Later, when I was making my final pass, I went by that table, and saw the gun in a Winchester box with papers (neither of which I had sold to the dealer). Sign said "new in box", and a markup 40% over what he'd bought it for (20% over retail). (He'd put the original buckhorn and front sight back on.)

I extended my stay at the show for a couple hours, hung out near his table, and would quietly inform each person interested of the gun's true history, then watch the fireworks. That dealer still looks at me with knives out of his pupils.

This kind of thing happens more often than most people realize. It's unfortunate there are such greedy, dishonest people selling fire arms.

As far as pricing a fire arm look at Gunbrokers completed auctions and other gun boards. I well add 10% or so to my minimum price for negotiating room. Most people feel better about a deal if they haggle the price down.

samuelm16 · Jun 24, 2011

my two sources are guns america wich is a non auction site and gallery of guns will give you a quote for a delivered gun includding shipping and transfer, they have proven to be cheaper than most used hand guns ive seen on here lately

mjbskwim · Jun 24, 2011

You can check the forum classifieds for prices,if you want.
Take cars for instance.If you go to the "old" site (something trader) you get the inflated price.Go to Craiglist and you get the price the car will sell at(most of the time a little less)
Same with gun sites.Some will always be high and some sites will have a good price.

So what the dealer does,if it's a newer gun,is get the wholesale price,look at the condition (say yours is in 95% condition),make sure you realize the gun can be bought by him,new in box,for the wholesale price,and that yours is worth 95% of wholesale because it is used.
If it is a popular model,he can sell quick,he'll give more.If it's a paper weight,less.

So you need to find out if it's a popular model,the wholesale price of a new one,and be realistic about the condition. Unless it has a lot of extras,they don't ad to the price much (a $25 mag is worth 10 used)

Now if it's a older model,then take an average of the prices you can find and,again,be reasonable on the condition because that's what sells the gun most,and decide how bad you want to sell.I had a G22 that I didn't care to sell but to trade for a G20.I kept the price high
If you can't find many for sale,you may keep the price up there higher.If there is lots out there,well,supply and demand.

Seems the guys on here are trying to fund other projects,so the prices are a little high.Little Nickel isn't a bad example of prices.Most on there are looking to sell guns.

Hope I helped some.I enjoyed rambling on.
Good luck

mjbskwim · Jun 24, 2011

And the "blue book" for guns is the same as for cars.Some regions want different types of guns,so the prices aren't always accurate for our area

AlanR · Jun 25, 2011

Everyone...thank you for the information.

cyclesarge · Jun 25, 2011

I think it has already been said there isn't really a % rule. Glocks for example seem to hold their value better than say Springfield XD's. Popular calibers tend to be more desirable (and therefor hold their value better) better then oddball calibers (.357 Sig, .45 GAP).