Would you rather...sell private or FFL consignment ?

[jmcclesk]

Small arms, 9mm stuff. FFLs around me, especially the range I go to, are always packed and I don't have time to stand around and wait to be helped. What can I expect when selling (back) to an FFL? 50 cents on the dollar? less?

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[CountryGent]

Welcome to NWFA.

Personally, I would, and have, just private sale firearms. Platforms like this site and Gunbroker make it pretty easy. If I may be of assistance with listings here, at your service. Good luck with your sales.

 

[64MercurysRule]

Welcome from r we gone . Glad you're here . There is much to see , learn and share here . Enjoy the forum and all it has to offer . Blessings to you & yours from down South .

Consignment : 80-85%
Trade in : 70%
Cash out : 60%
Pawn shop cash out : 50%

 

[Jay Walk]

What is this "Sell" that you speak of?

 

[unionguy]

I usually private sell, for a little work you get far more value. I think it mostly depends on if you like/can handle the back and forth.

 

[MannyGlocks]

Neither.

I've been giving away guns and a lot of other stuff, (like expensive binoculars, fine gold jewelry etc.) to family for the last 4/5 years as I'm getting of 'croaking age' and I can't take it with me...

Come to think of it, I've given away a lot of stuff to tradesmen who come to work on stuff in and out of the house, I'm not qualified to, such as a little used, pricey paint sprayer, a big, almost new, wood chipper, costly bicycles, and other such things I no longer use (or used very little) that take up real estate in my garage.

Selling is a bother...

 

[ilikegunspdx]

Small arms, 9mm stuff. FFLs around me, especially the range I go to, are always packed and I don't have time to stand around and wait to be helped. What can I expect when selling (back) to an FFL? 50 cents on the dollar? less?

10%-20% has been my experience. My last 4 firearms all sold in one day. I price them a bit under market value on purpose so they sell fast.

 

[Hop]

Selling private will likely result in more money in your pocket and possibly lead to some good connections. However, it can be more work and finding a buyer can be difficult depending on the item. If you go the consignment route the work of selling it can be off your hands but stomaching long gun shop lines to get there can be a pain and they will of course take a cut of the sale. I always try selling private and go the other route if I can't move something.

 

[1775usmc]

Private. If you price it correctly it will move and you'll still get more money. You could always take it into the FFL and see what they'll give you and go from there. It really depends on what gun you're trying to sell.

 

[Alexx1401]

Small arms, 9mm stuff. FFLs around me, especially the range I go to, are always packed and I don't have time to stand around and wait to be helped. What can I expect when selling (back) to an FFL? 50 cents on the dollar? less?

If you want to sell directly to a dealer you have to realistically expect to get "around" 50% of what the gun sold for new. Many don't "grasp" selling guns is not like many other things and the shop is not raking in cash this way. A lot of shops will sell for you on a consignment set up. Taking something along the lines of %20 of the sale. For this cut they do all the paper and hassle, you just get the money when the item sells. Sadly in WA its can be a PITA to sell yourself. Yes you "can often" make a better deal this way but, its not like it used to be. First you have to find a buyer who will meet with you at an FFL you choose. FFL with then of course charge a fee to do the transfer. Even if this part goes smooth you are not done yet. Now buyer has to wait until the state gives the finale OK for the sale to go through. Some FFL's I have "heard" will take the gun while the wait is going on. Ones I used for this would not. They would send both home to wait for the finale OK then call you both back. So now its at least 10 days later and buyer may or may not bother to show up again to actually pay. MANY flake out here and you are left to start all over again. All this was done with the fantasy that law makers are keeping those of us who follow the law "safe". While criminal scum just buy and sell guns all day long and don't care.
So only you can decide which way you want to go.

 

[L0C0]

Welcome on board...

 

[Colt Carbine]

Keep in mind if you consign with a FFL and it doesn't sell, you'll need to do a BGC to take possession off it. Some FFL's will charge a BGC fee for each firearm. Make sure to read the details of the Consignment form before releasing it to a Dealer.

Don't ask me how I know, when I took possession back of 4 firearms at $20 each.

 

[P7M13]

I hate selling stuff. I've sold a few guns, but for every one I've sold, I've given five away. Kids, friends, etc. I like @MannyGlocks style.

 

[gmerkt]

FFLs around me, especially the range I go to, are always packed and I don't have time to stand around and wait to be helped.

You live in Washington, any private sale will have to go through a dealer anyway.

You might think about taking your guns to Cabela's, they are buyers. They claim to pay 60% of what they would sell an item for. Which is more than you will get from most dealers and pawnshops. Your mileage may vary, not all appraisers at Cabela's are as generous as the next.

Some FFL's I have "heard" will take the gun while the wait is going on. Ones I used for this would not. They would send both home to wait for the finale OK then call you both back. So now its at least 10 days later and buyer may or may not bother to show up again to actually pay. MANY flake out here and you are left to start all over again.

The dealer I use for consignment sales keeps the gun during the 10 day waiting period. He doesn't take payment for the gun until the transfer is approved. I've been lucky, I haven't had any bilge out because a buyer flaked. He does take the transfer fee from the buyer in advance, though.

 

[Alexx1401]

You live in Washington, any private sale will have to go through a dealer anyway.

You might think about taking your guns to Cabela's, they are buyers. They claim to pay 60% of what they would sell an item for. Which is more than you will get from most dealers and pawnshops. Your mileage may vary, not all appraisers at Cabela's are as generous as the next.


The dealer I use for consignment sales keeps the gun during the 10 day waiting period. He doesn't take payment for the gun until the transfer is approved. I've been lucky, I haven't had any bilge out because a buyer flaked. He does take the transfer fee from the buyer in advance, though.

Unless I am missing something consignment is a totally different game than selling from one person to another. When I last checked on selling this way the shop said they would take the gun which means it went in their bound book as inventory. After that it is legally their gun. Then if a sale is made I would get a call saying to come get my money when the sale was done. As another poster warned the shop also warned me. If the guns did not sell for the price I wanted and I changed my mind I had to go to the shop and treat it just like I was buying a gun from them. BGC, waiting period and the cost that goes with that. Since the gun was now on their books.
Now last time I sold to another person we both went to shop. I showed my ID, buyer did the BGC as if he was buying a gun from the shop. It was before the mandatory wait but buyer got a delayed. So shop sent both of us home, me with the gun. Few days later the shop called us saying buyer was good to go and we both went back and I got paid.
This is why I "suspect" few FFL's are going to hold the gun for a buy from one person to another. Assuming the Fed check passes then the FFL has to wait for the state to give their blessing here. If shop (FFL) takes that gun for the wait it has to go in their bound book and would be their responsibility till it left the shop

 

[OrPackrat]

Most all I have sold has been consignment in order to get a good 80% out of it....

 

[dplev4]

Private party sales through an FFL are not all that ponderous or complicated. Even in Washington with their "10 business day wait," which isn't really a seller issue. Seller and buyer agree to a price and then an FFFL for the transfer. Typically, but not always, I'll have buyer inspect the firearm at the FFL and then take the money before we hand it to the FFL and before buyers begins their background check and transfer process. If I'm not familiar with the FFL I usually ask the buyer to inspect outside the FFL and then take the money and go inside for the transfer. Been on both sides of the transaction and it's worked pretty well.

Washington limits sales of certain firearms so check to make sure what you are selling can be sold. Otherwise have some fun. You will meet some really nice folks.

 

[Pete F]

The last time I put a gun on consignment, the FFL bubblegummed me. Sold the gun for much less than the agreement and gave the buyer an extra magazine that I left there priced at $25 for free. Never again.

All of this occurred after the agreement had expired. I called him two days after the agreement expired to get my gun back, but he told me that he had just sold it. I was upset, but let it all go just to be done with him.

I preferred the old days, really not that long ago - 10 years or so, when face-to-face selling was legal. No FFL involved and no paperwork. I remember buying my used/unfired Henry Goldenboy on the last day for $300. I loved trading, buying and selling privately.

 

[gmerkt]

Unless I am missing something consignment is a totally different game than selling from one person to another.

Yes, they are different processes. On private sales, my dealer holds the gun in escrow during the 10 day waiting period. Yes, FFL dealers are supposed to enter guns left on consignment into their books. It doesn't always happen. I also use this dealer to ship handguns for me. He enters those into his books prior to shipment.

The last time I put a gun on consignment, the FFL bubblegummed me. Sold the gun for much less than the agreement and gave the buyer an extra magazine that I left there priced at $25 for free. Never again.

Consignment sales need to be approached with some caution. Not all dealers are completely transparent in their transactions.

Never leave anything with the gun that you can sell separately. You can almost always sell that stuff separately on ebay or wherever for more money that if you simply threw it into the deal with the gun.

One issue I've had in the past on consignments with dealers had to do with price vs. potential speed of sale. I usually don't want to leave a gun for an indefinite period. Anything will sell, it's usually a matter of price. There are some dealers who will jack the agreed to price to squeeze as much out of the deal as they can. Which can mean the gun will languish on the shelf longer, waiting for someone willing to pay a higher price. I'm not just talking about their wanting to get maximum commission. No, some want to get money on top of an agreed upon gross sale price. You need to establish a gross price so as to make sure it's competitive and will be likely to sell in a reasonable time. Then make sure the dealer has the agreed upon price on the gun.

Pick a reputable dealer that has been in business a while. Some dealers won't take guns on consignment; they figure such guns compete with that they are trying to sell out of their own stock. They aren't hungry enough to take consignments. Which leaves you with the hungrier dealers, and the very people who are apt to be, er, less reputable. That's the irony of it.

Once consigned, you want to keep on top of it. Go around to the shop from time to time. For one thing, to make sure the dealer is still there and thriving. For another, to make sure the gun is still there. If not, why not. Some dealers have been known to sell guns and not inform the owner. Cash flow issues or whatever. Then there is the time element, if the gun isn't selling, discuss lowering the price to move it.

True story, one time I left a Smith & Wesson 586 at a dealer on consignment. I hadn't heard from him and I hadn't been by the shop for a while. So I decided to stop on my way home from work. The store was closed and dark inside, but I looked through the window and saw the dealer packing up his business records. I banged on the door until he opened it. He had gone out of business and was leaving town. I asked about my gun and he told me it had sold. He'd never called me. I asked for payment; he wrote me a check that I prayed was good and it turned out to be so. But if I hadn't gone by his (former) shop, I probably would never have seen the money.

Having said above that I don't want to leave guns on consignment indefinitely, I have several at a dealer that are there on that basis. They are dogs that I inherited, and honestly, if I never see them again, I wouldn't miss them. And they do have some chance of selling, which they don't have sitting in a safe here and they aren't likely candidates for Gunbroker. Essex .45 parts gun, Jimenez .22, Chinese 12 ga. shotgun, and rough NEF .22 magnum revolver. I've sold some decent guns on consignment in this shop. But there are certain buyers that just go around looking in pawnshops for cheap guns.

 

[The Heretic]

I would rather, and always do, sell FTF (not thru a consignment or to an FFL) - even if I have to wait years to sell something.

I have never sold anything on consignment. I've never pawned anything. The only way I've come close to that is a vehicle trade-in, and that was only once.