mark up on used pistols
Just wondering what the going mark up is on a pistol that a dealer is going to sell a used pistol for. Lets say I sold my colt pistol to a dealer 600 , would he turn around and sell it for double or what. Im just trying to to get taken. I would like to get as much as I can and it be a fair price for both involved, Thanks
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IF you sold it does it really matter what he gets or DOES NOT get out of it. A storefront FFL has many expenses and if you took his offer don't look at the what ifs, just my opinion. 6 -
I am a Class 3 Dealer, but the easiest way to get full value for your pistol is to list it on Gun Broker. 3 -
if you accept his offer then that's what it was worth to you, a customer of the person you sold it to has to think it is worth what the new owner is asking for it , if you don't think what you have been offered is a fair deal try another pawn/gun shop , or maybe a couple more.
when you get an average of the offers you will be close to what a business owner will be able to pay so he can in turn sell it and make a profit. the profit is what covers costs to run the store, pay taxes, pay salaries , and more.
It should be no concern of yours once you've accepted payment and released your claim to it.
If you're that worried about someone else making a profit , sell it Face to face and cut out the middleman , though sometimes this way can have some local restrictions or other problems that may just not make it worthwhile .0 -
Put it on consignment. Most shops take +/- 20%... The more he makes, the more you make. 0 -
Years back when I was in the business. The rule of thumb. Was MINIMUM, 50% mark up, on guns that were viable for resale. "Viable", is the weasel word here.
Unfortunately in a retail setting, there are some guns that are virtually unsellable. 16 gauge shotguns, and 32 revolvers come to mind. But there plenty others, if you gets stuck with with them. They will be around your neck forever, like Coleridge's Albatross.3 -
my take
sell it your self . or on consignment some very good dealers / people on here that would help you .
as for me I have never been able to sell directly to a dealer they can buy wholesale and will normally offer about half that cost if its a current model gun . so I seek out or list the gun to sell to some one looking for that gun , not some one wanting to make money .
yes I understand the over head and all the cost dealers have .0 -
Watch 'Pawnstars' and Rick will quickly enlighten you on the cost of running a brick and mortar business. I think they usually try to get stuff for half retail, and I think the gun business is about the same. 0 -
More like 7.00 on the hundered 0 -
Sell it yourself. Browse the GB side to see what used ones are going for. Usually around about 30% off of what a new one cost pending supply and demand . 0 -
Send it here.....I'll list it for you.....we keep 10%. I can send you a shipping label if you want. 6 -
Someones gonna go broke at that rate......after thinking about it, maybe your right and that's why so many firearm dealers go out of business.Butchdog2 said:More like 7.00 on the hundered
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No, No. Pawn shops pay out only 7.00 per hundered of real value.
Gun shop near here, out of business just a short time ago, for why I don't know, would only pay half of what the Blue Book valued the gun and the mark it up to what was a good profit.
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In my experience, markup on used pistols can be anywhere from 5% to 1000%. 50% is a good target to shoot for, but say you have $100 in a pistol worth $1000. You'd be silly to sell it for $150, now wouldn't you? 3 -
Used pistols are worth what the buyer will pay.............I have underpaid/overpaid...........depends on how bad you want said item. 0 -
So now your saying a Pawn shop loans out only $35 for a $500 pistol ???........man, you got me totally confused and all this time I though I was pretty good at counting moneyButchdog2 said:No, No. Pawn shops pay out only 7.00 per hundered of real value.
Gun shop near here, out of business just a short time ago, for why I don't know, would only pay half of what the Blue Book valued the gun and the mark it up to what was a good profit.
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We may be an anomaly in the used gun world but on a sub $500 gun we want to be at least $75 less than a new one and make $50 on it. Which is typically much better than most places give on used guns.
For Example we sell a Glock 43 new for $450. We would give $325 for a good used Glock 43 that was everything with it(same # of mags it came with new, backstraps, etc). Of course missing mags, poorer condition, etc. Will knock it down a bit but still will be priced $50 over what we paid.
We also do the same price whether cash or trade.
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Not firearms, pawn shop stuff.
Now I did see a fellow bring a new gun into a pawn shop one day, he said he had bought it a couple weeks before. He asked the pawn shop attendant, man what can I get for this". Reply 150.00. Man said "man I just bought this from you a couple weeks ago for 475.00 and I never shot it, what gives"? Reply you were buying then and we were selling, today you are selling and we are buying. Man took the deal, he had to gets out of town and need traveling money.
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It varies from store to store, and as most people above have said, it ranges from 10% to 50%, but there are exceptions. I worked for one national chain back in the days when they bought and sold used guns. Home office made this nice little booklet of instructions we had to follow on buying and pricing used guns. It had a strict formula: all buying of used guns was to be at 50% of the Blue Book value and selling was to be at 90% of Blue Book value. Anyone whose ever seen a copy of the Blue Book can see that there problems with this. The biggest problems was condition. But there were others such as some firearms being underpriced and others being overpriced. There was also a regional difference that the Blue Books never accounted for. Another individual shop that I worked for had a strict 10% policy. Buy for 10% less than you think you can sell it for and price for 10% more than you think you can sell it for. The owner figured that gave him a 20% wiggle room. The problem is what one guy "thinks" is different than what another guy "thinks" most of the time. One of the real big problems was when one customer sold us a gun and others were standing there trying to horn-in or heard what we had paid for it. One really good customer at one shop learned that we had paid X-amount for a used handgun. The owner didn't have any real policy, but in this case, he "thought" the gun would sell for 2 or 3 times what we paid for it. The customer who was standing there during the transaction and was good enough not to interrupt -- lots of folks do just stick their fingers in -- want to buy it and offered about 10% over what we had paid. When the owner laughed, this guy got angry and left -- never saw him again -- which cost the shop a customer that spent in excess of $1000 a month with us. So... the moral is that determining the "mark up" on used guns isn't easy and sometimes, maybe even often, has unintended consequences. 0 -
There is a time value to money. Lets say the shop bought a gun for $250 that might be worth $500 at some future date. It might take years to have that buyer walk in and buy it. On the other hand it could be gone in days for $350.
Cash deals face to face can be worth more to some folks.0 -
depends on the shop, they may have 10 of the same pistol on shelf and not want yours, or they may know of a person looking for that pistol and know they can sell it tomorrow, I agree sell it on your own you should make more.......... 0 -
I generally check completed auctions of that pistol . If the going rate for it is $400 then I am prob going to offer around 300 to 325, might go higher if very popular and easy to move gun . Like rude snow said , some guns just won’t sell . Rarely make an offer on them unless I have someone actively looking that particular oddball
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We have one gun shop here in Yakima who likes to get darn near original MSRP in used guns and I’ve never bought any from him. And we have another who is very fair imo. I’ve bought two used handguns from him a Bond Arms Texas Defender that had been fired once and my XDS .45 that was barely used.
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I second Kasey. Send it to her. Always got top dollar for me.Locust Fork said:Send it here.....I'll list it for you.....we keep 10%. I can send you a shipping label if you want.0 -
After reading all of this are pistols really a good investment? Maybe get a 50% return on investment! I would send it to LF as she knows how to sell and has a following. 0 -
Pistols or any firearm are just like anything other commodity, in that you make money when you buy the item meaning you have to buy low and sell high if you plan to stay in business. The trick is not to get greedy and not to take advantage of people either. My business is all referral as I do no advertising. Most guns I deal with now are consignments but a few years ago when I was running a store and range I bought a good number of guns and trained members of my staff to do the same. My rule is that yes we want to buy them right but not too right. I recall one gentleman who wanted three hundred dollars for some guns he had purchased when in the service years before., I offered him something over three thousand and he didn't want to take it. He thought he was taking advantage of me. I assured him I would make a fair profit and wrote him a check.
Three hundred would have increased my profit on that deal but if you start doing business like that pretty soon word gets out and you loose. I really like selling consignments on Gunbroker. I like taking good photos, doing a good write up, or at least the best I can, and starting out at One Penny/No Reserve.
By the way, I always tried to take potential sellers into the office and away from the counter. It is no one's business what I pay for something unless I want to tell them. And if you poke your nose in a gun deal I'm making I will do my best to bite it off. Your mama should have taught you better.0 -
I stopped by my LGS to browse, many years ago. A man walked in, approached the owner who was behind the counter next to where I was standing, & put a nice 60 y/o S&W revolver on the counter; he told the owner he'd like to sell the gun. I walked to the other end of the story to give them privacy. I was able to see that money changed hands & the seller left the store. I walked up to the owner, & said, "I saw the S&W that you just bought; have you put a price on it?" He turned to the back counter where he had left the gun, picked it up, & said, "this one? Nah, I don't price guns until I've had a chance to look them over." He quickly put it in a drawer, turned his back on me, & walked away & waited on another customer. I never went back, & I made sure that my friends at my gun clubs heard this story. A year later, the gun shop closed.Neal"The gun business is 10% guns, & 90% business."
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