Selling guns on consignment ??

[Kevin]

Lately I’ve been thinking of selling some of my guns. No particular reason, but there are a couple other guns I would like in their places. A month or so ago, I was able to sell a shotgun, which I just simply did not have anywhere to shoot, and hadn’t fired it in 10 years or so.

There is one gun store here that sells guns on consignment. I’m sure there are more stores, but I trust this store. However, their fee is 15%. Which seems really high. The one pistol I’m thinking of selling is worth around $850. So their fee would be $127 leaving me a little over $700.

Yuck, in typing this out, I answered my own question. Because the pistol I’m thinking about is a lot more than that.

Wait, I didn’t ask the question. Ok, here it is. Has anyone had good luck selling guns on consignment? I don’t want to get into some nightmare situation.

Hmm, I’ll try the classifieds here I think.

 

[GunnyGene]

I've tried selling some things (not guns) on consignment, and the problem is that it can literally take years before something is bought. I gave up on it.

 

[tinman]

Never have sold on consignment. As you are discovering, they usually want too much of the sale.
Post your items on whatever forums you frequent and see if you get the desired results.
...........it worked for an unneeded smoker......... :roll:

 

[Kevin]

Never have sold on consignment. As you are discovering, they usually want too much of the sale.
Post your items on whatever forums you frequent and see if you get the desired results.
...........it worked for an unneeded smoker......... :roll:

Thanks, Yeah, I hope you are getting some use out of that smoker. I smoked some lamb and sausages last weekend. They were delicious.

And yes, 15% is just too much.

 

[Pps1980]

Consignment might work these days as new weapons are scarce and used are also flying off the shelves (at least locally). I've found face-to-face sales through local listings (like your state gun association) to work better. I just ask for a look at their Weapons Lic (preferred as it assures me they are not a prohibited person) or Drivers License (but with receipt). Good luck.

 

[Dave P.]

Looking at it from a business side 15% does not seem high to me.
Not sure how this works for the FFL but guessing by the time they
talk to you and do whatever paperwork required, then deal with
showing and selling it and more paperwork to the buyer...and then
get you your money.....well 15% sounds pretty reasonable.
Maybe a "sliding" scale depending on what something sells for.
A $400-$500 gun wouldn't even be worth the effort for them at 15%.
Dave

 

[RoninPA]

Kevin, Actually 15% is not bad at all, some places charge 20%-25% of selling price.

When I take one in for consignment I tell them my commission is 15% of the selling price. I have formal consignment paperwork they have to sign and it spells out everything I will do and what they can expect can happen over the course of the sale.

We then discuss what amount they want to start the sale at and what is the least amount they would take if someone makes an offer.

The selling price I advertise will always include the shipping costs (I've been at this business long enough that I can give a shipping/insurance cost that is pretty darn close).

I also tell them that I hold out for what they want and will not go to the bottom price immediately, I will negotiate for the best price I can get because that means more money for me

Also, I do all the advertising, packing and shipping, etc. so for 15% they don't have to do anything.

Even if they find someone in who wants to buy it, I'll won't drop my commission because I have already done all the legwork involved in advertising it and then have to update all the places I've advertised it and my time is worth money.

 

[57springer]

Looking at it from a business side 15% does not seem high to me.
Not sure how this works for the FFL but guessing by the time they
talk to you and do whatever paperwork required, then deal with
showing and selling it and more paperwork to the buyer...and then
get you your money.....well 15% sounds pretty reasonable.
Maybe a "sliding" scale depending on what something sells for.
A $400-$500 gun wouldn't even be worth the effort for them at 15%.
Dave

Some folks think people are in buisness for the fun of it I guess :?

 

[smoke-eater]

I tried selling a rifle on consignment once. Sat on the rack in the shop for almost a year. I had a change of heart and took it back. Found a few "handling marks" that weren't there before. That's the risk you've got to take.

 

[Gator89]

When I have used consignment, the retailer took 10%, which in my mind is a fair deal.

 

[Kevin]

would think a 9mm, with today’s atmosphere would sell very quickly. I guess that’s why I questioned the 15%. I would have felt a lot more comfortable at 10%. Yes I do know they have to pay the sales guy to show the gun, and pay to keep the lights on.

But right now, they don’t have many guns in the case, so a sale with a tighter margin right now would be still nice.

Besides, it would be “fun.” :?

 

[Heliman]

I have helped friends of friends sell guns. Charged 10%, with the caviate that the owner follows through with the final sale and that the transaction is legal. I do the advertising and hook up the buyer with the owner/seller.

 

[krw]

What about the classifieds here. You can get an idea of what the gun sells for on GB

 

[Kevin]

What about the classifieds here. You can get an idea of what the gun sells for on GB

Yeah, I think I'll give the classifieds here a try first, and if nobody is interested, I'll take it down to the gun shop here in town. I need to get some pictures of it first...

 

[WAYNO]

Assuming an item is in demand, and inflated in price as many items are now, I think a 15% consignment fee is a bargain.

And being someone that has bought and sold a fair amount of items, both online, and on consignment, 15% is cheaper than added shipping, added transfer fees, and added heartburn. :mrgreen:

 

[Igor]

Assuming an item is in demand, and inflated in price as many items are now, I think a 15% consignment fee is a bargain.

And being someone that has bought and sold a fair amount of items, both online, and on consignment, 15% is cheaper than added shipping, added transfer fees, and added heartburn. :mrgreen:

In most cases, the buyer, not the seller, pay shipping and transfer fees...........

 

[mike7mm08]

Consignment sales in my area are pretty fairly priced. Dealers around me are smart they want to turn consignments as quick as possible. Keeps people coming in to see what they have got in this week.So I would take a hit by paying the consignment fee.

I can sell on gunbroker and end up with more cash in my pocket. It's not hard to do don't take too much time.

The only time I consign is on low dollar common items. There are some things that once you add shipping fees and transfer fees they become a no sale online. You don't get much interest on something when shipping and transfer cost a third of the gun price. And it is something that a walk through most any gunshow will give you a pick of two or three.

 

[GRAMPS 51]

Hi around here 15%-18% is the norm with a few as high as 30% the dealers that are high don't want to be bothered with the calls for the transfers which can take hours to get thru with the buying craze going on

Gramps

 

[powder smoke]

15% IMO is not bad! Remember if it gets stolen or damaged he is responsible. make sure you
have decent photos of it! If you do not like his rate sell yourself! He has to make it worth his while. ps

 

[Bob Wright]

I have sold a couple guns on consignment. My practice is to tell the dealer what I want to get out of the gun and let him sell for whatever he can get for the gun.

Bob Wright

 

[bogus bill]

Over many years I have flipped two to three hundred guns, mostly by having a table at gunshows. Also sold a few on consignment at high end gun shops with good luck. After many years of buying, selling, haggling, I just GAVE away all of them to mostly family and friends. Thirty handguns, twenty rifles and shotguns. I valued them at aproximently $80,000 had I used gun broker with good pictures and luck. No plastic, most were what I call "Classic`s", Most S&W`s, Colts, Winchesters, Browning's etc from the 1940`s through the 1980`s.
In short, I am on Hospice. Never been on a cruise, wanted better trucks, new vehicles etc but with a couple of low ends, never splurged for 60K trucks or 25K new hawgs.
Did have a safe full of fine seldom seen. seldom used classic guns. "Smoke em if you got em"

 

[RSIno1]

Try here first - it's free. Then GunBroker - there are other online ones but they seem to have a lot of scammers. Here in CA most FFLs take 30% for their consignment fee and by state law can't even offer it for sale until they have had it 30 days to make sure it's not stolen.

 

[bogus bill]

I have lived a charmed life. I built the vast majority of my gun collection living in California in the 60`s to 90`s, backed off as politics and more laws developed and removed here to Utah in 2,000. I had a few touch and go incidents in California but NO jail time, no lawyers involved, no gun loss, packed a big part of the time (even CC),. I did have a permit to OC in uniform on my guard job. I had to do some explaining about four or five times and always "walked" That doesn't sound like the California we all have come to fear does it?
How did Nazi Germany get so powerful? There were a lot of "Goot Shermans" as there is a lot of nervous dudley do rights today that love pointing out the very worse could happen in what would take a rare coincidence, gun hating judges, new recruit young cops with no common sense etc. Young new ambitious PA`s etc.
Your demeanor counts for 95% of everything.

 

[tinman]

Never have sold on consignment. As you are discovering, they usually want too much of the sale.
Post your items on whatever forums you frequent and see if you get the desired results.
...........it worked for an unneeded smoker......... :roll:

Thanks, Yeah, I hope you are getting some use out of that smoker. I smoked some lamb and sausages last weekend. They were delicious.

And yes, 15% is just too much.

Yes sir I am. Been learning a bunch about building a proper fire for each type of meat. Thanks again.

 

[powder smoke]

Add in the paper works, that is if that is legal in you jurisdiction! Over here it is! ps

 

[Ale-8(1)]

I have sold a couple guns on consignment. My practice is to tell the dealer what I want to get out of the gun and let him sell for whatever he can get for the gun. Bob Wright

I think that's how I'd try it. Probably a good idea to let the "dealer" tell you if he cannot live with such a deal, meaning he knows how much it would likely sell for. :wink:

 

[RoninPA]

I have sold a couple guns on consignment. My practice is to tell the dealer what I want to get out of the gun and let him sell for whatever he can get for the gun. Bob Wright

I think that's how I'd try it. Probably a good idea to let the "dealer" tell you if he cannot live with such a deal, meaning he knows how much it would likely sell for. :wink:

I have found that most people wanting to do a consignment really don't know what their guns are worth and really don't know how to evaluate them. When they bring them to me to consign, I evaluate the gun and we talk a lot about the gun, what they want to get, and what a realistic price range would be. We don't do any paperwork until they are satisfied on what they may actually receive from the sale. If they want more than it is worth (sentimental reasons, or whatever, I pull out the BBGV and show them that and then explain that is not necessarily the "street" value - it could be more or it could be less. Nothing happens until they are happy. I have had people tell me that "Well, maybe I'll hold on to it for a while and think about it." That's fine by me and tell them I am here if they have any questions or want to discuss it later.

I had one older gentleman (mid 80's) call me and tell he he was going to take all his guns to as local gun shop (which does not have a good reputation for treating people right) and sell them to the shop. I told him not to but to bring them to me and let me evaluate and tell him what I might be able to sell them for. Long story short - I made him probably 4 to 5 times as much money as he would have gotten selling them to the local gun shop, even with my 15% fee. He had a pretty low s/n Colt SP-1 (R6000) in 95-98% condition and I know the LGS would have ripped him off. He really didn't know what he had other than it was a Colt AR-15 he bought years ago. When I posted it, for a good fair price, it sold in 15 minutes and he got probably $1000 or more over what the LGS would have given him.

So those that say 15% is too much, I believe it all depends on what the FFL has to do to get the best sale done and how hard he works to do the sale to benefit the customer.

 

[Ale-8(1)]

Like any other transaction . . . if both the seller and the dealer/consigner are happy at the conclusion, it was successful. :wink:

 

[Thumbcocker]

Local shop charges 15% for consignment in the store and 20% to post on gun broker. The 20% includes good photos, all the paperwork, and the shipping. I have no complaints. I
Just don't expect quick cash. If you have time it is a good system.

 

[langenc]

What about putting an ad in a local advertizer?? Maybe none in your area.

Set a reasonable price for a 'package' for a newcomer, gun mags and couple boxes of ammo which they might have trouble getting somewhere else.
Put a note on the local bulletin boards and dont forget the gun clubs, bennie of belonging to one.