Estate Gun Collection-advice needed
Hello,
I have been given the responsibility to liquidate my grandfathers estate gun collection. Does anyone have any advice on appraisals and selling the guns?
Thanks for any help,
I have been given the responsibility to liquidate my grandfathers estate gun collection. Does anyone have any advice on appraisals and selling the guns?
Thanks for any help,
0
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sign up as a seller and start listing..show some pics of what you have and decent discriptions in the ask the expert's you will get feedback on approx values.but then we dont have the gun's under our noses so take good quality photos...check closed auctions and open for comparable items and what they are listed at and what they sold for,,this will give you a general idea to start with..ps any ww2 bring backs[:D] 0 -
You can begin by providing complete details on your guns and taking clear photos. This link will show you how to upload them:
http://forums.gunbroker.com/topic.asp?TOPIC_ID=259294
Provide as much information as possible. The experts will be better able to evaluate your guns and advise you if further "hands-on" appraisal is necessary.0 -
For appraisals, Gunbroker auctions is an excellent tool to find what the current market on each gun is. Go to the auction side, then click on "Smart Search". Type in the make/model of gun. Then go down to where it says "Show only". Click on that and select "completed auctions in last 90 days".
This will give you a list of what same guns have actually SOLD for recently.
Of course you have to match the condition of your gun to one of the sold guns to get a more accurate idea. Remember also that each buyer of the sold guns paid shipping and probably FFL reciever fee's on top of bid amount. "Generally" about $50. more.
Another easily available tool is the "Gun Traders Guide" available in the sporting goods area of most Wal Marts for about $15. This doesn't list every gun ever made in it. So it's quite possible that some of your guns won't be listed. But most should. It will provide dates of MFG, description of original specs, and a ballpark "book value". The book also contains a guide on how to grade your guns condition. More complete guides are available @ bookstores for 2-3X the price.
Summer is traditionaly a poor time to sell guns. But alot depends on what type and the desirability of each gun. Many potential buyers (hunters) are busy in the summer doing "non-gun" activities such as fishing/camping etc. But will turn thier interests back towards guns when the fall hunting seasons arrive. Plus the high fuel prices and generally slumping economy has hurt gun prices and made for a current buyers market. Alot of people are selling guns they oterwise wouldn't have because they need the money. And the guns are generally going cheap. So you might be better off to wait until fall before you attempt to sell. Particularly on common sporting guns.
This might not apply to higher end more desirable collector guns such as old Colts/Winchesters and some Milsurps such as battlefield pickups/vet bringbacks.
But you're on the right track. Knowledge is power in the gun market. Research your stuff and KNOW it's value before you attempt to sell.
But remember this. In most cases, which the exception of deireable collector guns, it is very hard to obtain a 100% value sale.
Gun shops and gunshow vendors rarely will pay over 75% of value. They have to buy low in order to sell higher (@ approx value) and make a profit. There's nothing in it for them on a straight deal.
And buyers @ auction consider the shipping/FFL fee's that they pay into thier value vs. cost equation.
Also, if you do sell @ auction, be sure to have your auction end at a time when people are likely to be at home w/thier PC's. Summer weekends and any holidays are BAD times to end an auction. As are very late night or early afternoon when folks are working. Weeknight TV prime time is IMO the best. Good luck.0 -
You need to tell us why you need an appraisal. If you are executor of the estate & need to establish the value of guns for probate, you may need to hire an appraiser to prepare a written evaluation. If this is unclear, you need to consult with the attorney for the estate.
On the other hand, if you just mean you want an estimate of the value so that you have an idea of a fair price to ask, then you will want to browse completed auctions of similar guns on this website, or you may need to buy a few reference books.
In any case, you will need high quality digital photos if you want to sell the guns on this, or any other, website. You will certainly need to post them if you hope to get any advice from us. If you don't have the equipment or skill, you should consider paying a professional to take photos.
Neal0 -
If you are looking for an appraisal of dollar value for probate, it can depend on the size or value of the estate. For a modest estate your attorney may accept your estimate (a reasonable number picked out of the air) rather than getting involved in formality. If it is a large estate approaching federal estate tax limits it probably has to be done formally.
For a small collection worth a couple thousand it may be possible to ignore the collection and consider it part of collateral possessions, household goods, etc. That was how my father's was handled.
If challenges are likely, such as disgruntled heirs, that can complicate matters and it's probably another ball game.
Regarding antique guns, if any, I did not see in any of the other entries the mention of Flayderman's Guide to Antique American Firearms. Available in better gun shops, internet, book stores, etc at around $30 - hundreds of pages of guns.0 -
FWIW, values can vary from the values published in books based on region, economy, etc. This is for Flaydermans, Bluebook, etc. 0 -
If you suspect there are things of high value...contact one of the Auction houses who deal in these things...like Julia's or Rosk Island Auctions. They do very well for their customers. 0 -
Hi, jazzboe. You've gotten lots of good advise so far. I personally printed out Fatstrat's reply for my own use. If you live in Southern California send me an e mail and I'll set you up with an auction house that can do the job for you. What ever you decide, good luck.. Jim jthomas98@prodigy.net 0 -
Thank you for all of your advice!
The guns are located in the midwest and I am in South Florida, so this will be quite the project.
Thanks again for your help.0 -
In the Midwet there is Garner Auctions (Ohio) and he is a huge auctioneer of gun collections - 0
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