Page Index Toggle Pages: [1] 2  Send TopicPrint
Hot Topic (More than 10 Replies) Advice on selling high end singleshots request. (Read 7757 times)
bohemianway
Oldtimer
*****
Offline



Posts: 648
Location: Andover, MN
Joined: Apr 16th, 2004
Advice on selling high end singleshots request.
Jan 7th, 2014 at 10:03pm
Print Post  
With rockislandauctions and the likes taking over 30% are there any safe ways to sell highend singleshots? 
1) Advertising
2) Negotiating
3) Transfer and monetary exchange

I would think that 10% (3 to 5 thousand commission) would be fair. 9 to 15 for simply advertising and handling the sale seems steep.

What would you do?

Thank you,
Charles
  
Back to top
GTalk  
IP Logged
 
slumlord44
Frequent Elocutionist
*****
Offline



Posts: 2850
Location: Lebanon, Illinois 62254
Joined: Dec 21st, 2007
Re: Advice on selling high end singleshots request.
Reply #1 - Jan 7th, 2014 at 10:34pm
Print Post  
I would first list it here in the forsale section. You could sell it for 25 percent below Rock Island prices and still be ahead. Gunbroker is another option but I do not usually see realy high dollar guns actually sell there.
  
Back to top
 
IP Logged
 
Ciao998
Senior Forum Member
****
Offline



Posts: 263
Location: Kennewick, WA
Joined: Oct 23rd, 2013
Re: Advice on selling high end singleshots request.
Reply #2 - Jan 8th, 2014 at 9:39am
Print Post  
Sell here first. And if you need vouchers, many people here know one another, and you can ask.
  
Back to top
 
IP Logged
 
Lefty38-55
Senior Forum Member
****
Offline



Posts: 366
Location: New England
Joined: Sep 11th, 2013
Re: Advice on selling high end singleshots request.
Reply #3 - Jan 8th, 2014 at 11:35am
Print Post  
Something else to consider ... places like Gun Broker and Amoskeag (sp?) Auctions or other auction houses have a service where for a fee you can have someone guesstimate the value of the firearm.

This is typically a $25 or $35 service. That might help you out too!
  

All of my single shots shoot one tiny ragged hole with cast bullets ... it's just the following shots that tend to open up my groups Wink ...
Back to top
 
IP Logged
 
.22Hepburn
Oldtimer
*****
Offline



Posts: 803
Location: Pennsylvania
Joined: Feb 18th, 2008
Re: Advice on selling high end singleshots request.
Reply #4 - Jan 8th, 2014 at 4:08pm
Print Post  
Don't forget that if you sell a firearm at one of the auction houses, you will receive a 1099 form with the sale proceeds. I assume that this means you have to report the sale proceeds as income, ouch.
  
Back to top
IP Logged
 
graduated peep
Ex Member


Re: Advice on selling high end singleshots request.
Reply #5 - Jan 8th, 2014 at 6:04pm
Print Post  
.22Hepburn wrote on Jan 8th, 2014 at 4:08pm:
Don't forget that if you sell a firearm at one of the auction houses, you will receive a 1099 form with the sale proceeds. I assume that this means you have to report the sale proceeds as income, ouch.

Absolutely !!
I knew a fellow who collected antique chinaware like fancy cups and saucers ; and had amassed a considerable estate.
He had at least two auctions to liquidate his collection, and the gross was around $1 million.
He got clobbered in taxes, and told me if he had known what was going to happen, he would have sold his stuff off privately.

On the other hand, a good friend had a collection of about 100+ guns, which were mostly modern.
He negotiated a deal with an auctioneer to liquidate the collection over several auctions where no one sale total was to equal more than $10K.
He also stipulated to be paid in CASH.
He got away with it; but I don't think it would have worked if he wouldn't have had such a sizable collection.
  
Back to top
 
IP Logged
 
FITZ
Oldtimer
*****
Offline


REGARDS

Posts: 917
Location: MASSACHUSETTS
Joined: Apr 16th, 2004
Re: Advice on selling high end singleshots request.
Reply #6 - Jan 8th, 2014 at 7:28pm
Print Post  
The problem with those of us that are collector shooters is that when we aquire something nice we neglect keep records of our cost. That can be deducted from the sale price to reduce the gain that is taxable. Also there is the issue of Long Term Vs. Short term gain. Different tax base. Private sales are for the most part completely legal especially if the Firearm is a legitamate Antique. No Dealer required. I have handled the collections of freinds for their wives. Dealt in cash only. Posted most items in my local Club and sold them all. Have a freind that is now selling off his stuff piecmeal slowly one at a time spread out. So far he has not had a problem, been at it for 5 years now. I will most likely be posting some stuff in the future for someone. Will post them here. HTH Regards, FITZ. Cry
  

FITZ
Back to top
 
IP Logged
 
slumlord44
Frequent Elocutionist
*****
Offline



Posts: 2850
Location: Lebanon, Illinois 62254
Joined: Dec 21st, 2007
Re: Advice on selling high end singleshots request.
Reply #7 - Jan 8th, 2014 at 8:34pm
Print Post  
I have heard that there is a part in either the new tax law or Obama Care that makes collectables in your estate taxed at a higher rate and separate from the million dollar exemption that most people get for spouses. I personally keep records forever for many reasons. Problem is I do not have good written documentation on everything. The other problem is that a $400 gun 10 years ago may be a $1000 gun today and you have capitol gains. Selling privately for cash is legal. Not paying taxes is not. Remember Al Capone?
  
Back to top
 
IP Logged
 
boats
Frequent Elocutionist
*****
Offline



Posts: 7575
Location: Virginia
Joined: Apr 23rd, 2004
Re: Advice on selling high end singleshots request.
Reply #8 - Jan 9th, 2014 at 6:43am
Print Post  
My Aunt always drove Corvettes, had a 1962 she bought new for 3200 dollars.  When she turned 80 steering was too hard for her & decided to sell it. She made a simple price calculation 10x purchase cost. Listed for a day before somebody jumped on the car. Paid capital gains on the profit, or so she said.

Barrack will never see anything from sale of my collectables. Throw them overboard first.

Boats

Boats
  
Back to top
 
IP Logged
 
40_Rod
Frequent Elocutionist
*****
Offline


Extremism in the persuit
of accuracy is not a
vice

Posts: 4285
Location: Knoxville, TN
Joined: Apr 20th, 2004
Re: Advice on selling high end singleshots request.
Reply #9 - Jan 9th, 2014 at 8:38am
Print Post  
A lot of what goes into the calculation of selling your single shots is what you expect out of them. If you bought your rifles with an eye on resale value and watch the prices of similar rifles like the Dow-Jones than stop reading right now you won’t like what I have to say. 
  Admittedly my guns are “shooters” most are made up guns, Even my one true original wears a modern barrel so I can keep the custom barrel that came with it in perfect shape. Most of my rifles are “barn guns that I brought back. The value in my rifles is in how much fun I have had with them. 
  When I sell something I sell here or face-to-face at a match to other shooters. I want to know that the rifle is going to someone who will love and use like I did. I don’t want my rifles going to some feather merchant who is buying them for an “investment”. I will never pimp my rifles out on gun broker or fleabay. Do I sell for more than I bought yes, but not as much as I could sell them for to some rube on an auction site.

40 Rod
  
Back to top
 
IP Logged
 
graduated peep
Ex Member


Re: Advice on selling high end singleshots request.
Reply #10 - Jan 9th, 2014 at 12:51pm
Print Post  
slumlord44 wrote on Jan 8th, 2014 at 8:34pm:
I have heard that there is a part in either the new tax law or Obama Care that makes collectables in your estate taxed at a higher rate and separate from the million dollar exemption that most people get for spouses. I personally keep records forever for many reasons. Problem is I do not have good written documentation on everything. The other problem is that a $400 gun 10 years ago may be a $1000 gun today and you have capitol gains. Selling privately for cash is legal. Not paying taxes is not. Remember Al Capone?


I'm glad you mentioned this; as I had heard about it years before Obimbo got into office.
As I understand it, when capital gains rates were lowered, it was for everything but antiques and collectibles; not necessarily raised  just for them.
I think this took place back in the late 90's or at least before the collecting bubble burst because of the economy.
Folks that had bought up things back in the 60's and 70's were realizing huge profits from inflation and increased awareness of antiques and certain collectibles as "investments".
Perhaps the tax guys thought that was too easy, sort of like lottery winnings;and decided to crucify the unsuspecting collector or the fellow that found a copy of the Declaration at a flea market for $5.00 and sold it for $50,000.
How about those treasure hunters in Fla that find sunken Spanish gold. I think the state takes 75% right off the top ??
  
Back to top
 
IP Logged
 
Paul_F.
Ex Member


Re: Advice on selling high end singleshots request.
Reply #11 - Jan 9th, 2014 at 1:54pm
Print Post  
Quote:

How about those treasure hunters in Fla that find sunken Spanish gold. I think the state takes 75% right off the top ??


They got lucky.... the state of Florida tried for almost 20 years to take ALL of the Atocha treasure.  They damn near got away with it. 
This after Mel Fisher spent 20 years of his life, and several fortunes, trying to find and recover the Atocha.
I think it was public opinion that finally swayed the court, and let the Fishers keep 25%.

  
Back to top
 
IP Logged
 
creedmoormatch
Ex Member


Re: Advice on selling high end singleshots request.
Reply #12 - Jan 9th, 2014 at 2:07pm
Print Post  

  BohemianWay --
   
         Let's assume for the moment that we both use the term "High End" single shots to mean "schuetzen rifles of the turn of the 20 th century, Golden Era in America".  That being the case, may I suggest that you place one, or more, with a very reputable, honest, well credentialed, seller under a written (negotiated) consignment agreement.

If it were me, my preference would be, among other provisos, that the consigned item/s be presented by the Consignee (Dealer) at the Baltimore Arms Collectors Show at Timonium, Maryland, in March 2014.  Of course, your consignment agreement document would be structured in such a fashion that the sale/transfer price would be incentivised so that the higher the sale price the greater the percentage of commission that the consignee would/could realize/earn.

C.M.M.
  
Back to top
 
IP Logged
 
bohemianway
Oldtimer
*****
Offline



Posts: 648
Location: Andover, MN
Joined: Apr 16th, 2004
Re: Advice on selling high end singleshots request.
Reply #13 - Jan 9th, 2014 at 4:40pm
Print Post  
Thanks all for some good advice. I will look into a couple. My only desire is rifles that are shoot-able survivors or specifically built for our game and these collectors are for someone else to hold. 

Thanks,
  
Back to top
GTalk  
IP Logged
 
creedmoormatch
Ex Member


Re: Advice on selling high end singleshots request.
Reply #14 - Jan 9th, 2014 at 5:34pm
Print Post  
  The Balimore Antque Arms Show is 15 and 16 March 2014.

Photos:

(You need to Login or Register to view media files and links)

C.M.M.
  
Back to top
 
IP Logged
 
Page Index Toggle Pages: [1] 2 
Send TopicPrint