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I don't think most gun shops have lots of cash in the bank. Most of what they have is on the shelf and a lot of them live day to day.
It's not an insult to low ball someone. It's just business.
Why on earth didn't they sell the guns individualy? They could have done a lot better that 50 cents on the dollar.
B
It's not an insult to low ball someone. It's just business.
Why on earth didn't they sell the guns individualy? They could have done a lot better that 50 cents on the dollar.
B
If he got close to $20K, I'd say he did extremely well. Obviously it all depends on what he had, but if they were all modern guns, that was a very good deal. $20,000 is a lot for a dealer to put out in the hopes of profiting what? $10,000 or so?
I agree. It would have left a bad taste in my mouth too. But don't forget you are sort of asking someone to do you a big favor to cough up big money in one fell swoop. My guess is that he is going to float the cost of the guns and try and move them quick so he can pay bills. $20 thou is a lot to just come up with for a gun shop.
B
B
$20K is a fair price for $40K of guns bought new at retail.
It is also the reason that I buy used most of the time.
OTOH, and I've been on both sides of the counter, honesty is always the best policy.
The quick windfall profit gained from someones misfortune will eventually generate a lot of negative publicity and lost future sales and referals.
It is also the reason that I buy used most of the time.
OTOH, and I've been on both sides of the counter, honesty is always the best policy.
The quick windfall profit gained from someones misfortune will eventually generate a lot of negative publicity and lost future sales and referals.
D
daveInME
long ago and far away, I brought about a dozen modern guns to Kittery Trading post.
they offered me a very good cash deal, and offered me a larger amount if I would take it in store credit, which I did, since my wife and I wanted a pair of ocean kayaks and all the gear needed for them.
IMO a place like KTP will give you the best price for a bulk trade in since they are larger, have a bigger turnover, and (probably) more cash in the bank then the local gun shop would.
they offered me a very good cash deal, and offered me a larger amount if I would take it in store credit, which I did, since my wife and I wanted a pair of ocean kayaks and all the gear needed for them.
IMO a place like KTP will give you the best price for a bulk trade in since they are larger, have a bigger turnover, and (probably) more cash in the bank then the local gun shop would.
Yup - they are. They'll also tell you out right it they aren't interested in what you've got.
Yeah, but how long do they have to sit on those guns to reallize that profit? A year or two?
I've done a fair bit of wheelin'-n-dealin' in the gun/gun accessories area. My rule of thumb with a high-dollar purchase is that if I think I can double my money, it's worth the risk, otherwise, I usually pass. Again, $20,000 is a lot of scratch for a gun shop to put out there on speculation.
A for-instance: Your guy buys a Browning BAR a few years ago for $800. The shop offers him basically $400 for a gun that might sell used for $650. Yes, he stands to make $250 on the deal, but he has to carry that gun till it sells. Overhead takes a big bite.
centermass181
NES Member
Law Enforcement Equipment.
I believe they tried putting a screwing on LenS a while back.
I believe they tried putting a screwing on LenS a while back.
A few years ago I tried to sell an AR to that same shop in Waltham. It was a garden variety 20" A3 model in great shape. Similar models were on his shelf for $800.00 and up. He offered me $350.00. I told him I would throw it in the ocean before I sold it to him for $350.00. I will not be back. Ask Len about buying a safe at that shop...
If you actually believe that the seller is stupid enough or desperate enough to take you're low-ball offer, then it might be reasonable, though hardly ethical. OTOH, if not, then you've probably lost him as a future customer, along with as many other people who'll listen to his story. Personally, I wouldn't consider a 50% return over 2-3 years to be too shabby, and the nasty fact about overhead is that I'd have to pay it whether or not I bought the guns, so it really doesn't enter into the equation, unless I simply don't have room to store a single extra gun anywhere.
Ken
Ken
J
Jose
+1
Why do people think they are owed a reasonable offer? And why do they take the lack of as a personal insult?
If they don't like what they are offered, keep on walking......
![[thinking]](/xen/styles/default/xenforo/smilies.vb/010.gif "Thinking [thinking]")
I've heard people have had bad experiences at that shop, but I've had nothing but good experiences there.
They bought my aluminum Colt 2000 about 12 years ago that nobody at all wanted. I've found them to be very pleasant there, so far.
They bought my aluminum Colt 2000 about 12 years ago that nobody at all wanted. I've found them to be very pleasant there, so far.
+1
Why do people think they are owed a reasonable offer? And why do they take the lack of as a personal insult?
If they don't like what they are offered, keep on walking......
It does say something about the way they conduct business.
Low balling would be offering something closer to 8K - 12K.
Offering $2,200 is an insult (like leaving a nickel tip at a restaurant).
The guy could have done better than that at a gun buy back program.
If they were offering a price like that to someone who obviously knew something about firearms and their value... how would they treat the unknowing seller looking to get rid of a family heirloom?
"Gee grandma, this Luger you're looking to sell has a few shiny spots showing, the bullets for it are missing, and the damned thing is almost a hundred years old, but seeing how your late husband brought it back from the war, and you don't feel safe having it laying around the house.... I'm gonna do you a favor and give you $25.00 for it".
This is a 2 fold issue. The least of the problems involved was that the shop can't come up with the "true value" because they are jsut a gun shop. Baloney! They are in business to turn a profit and if they see something they want or an opportunity to turn that profit I don't know any businessman worth his salt that wouldn't "find" the money somehow. Any comodity that has a reasonable used marketplace has higher profit margins on used "widgoits" than new ones...period. None of us are owed a reasonable offer by anyone in business. The only reason we may get one is the afore mention or that the businessman wants to stay in business for a while and word of mouth helps or hurts.
The most important reason is why would a good businessman (I use the male gender because of who we are referencing at LE) insult someone, an obvious good, previous customer who purchased over $40,000 worth of weapons from him in the past? This is just plain stupid and ignorant. "I not interested at this time", "I can't come up with how much they are worth right now", any excuse not to be an ass to someone who obviously needs the money.
This is my issue, why kick someone when they are down? Maybe recommend somewhere else he might go to get more for the lot. I can think of a million other things to do or say instead of belittleing him with such an insulting low ball. It is not illegal or imortal but just not nice and really not good business practices.
The most important reason is why would a good businessman (I use the male gender because of who we are referencing at LE) insult someone, an obvious good, previous customer who purchased over $40,000 worth of weapons from him in the past? This is just plain stupid and ignorant. "I not interested at this time", "I can't come up with how much they are worth right now", any excuse not to be an ass to someone who obviously needs the money.
This is my issue, why kick someone when they are down? Maybe recommend somewhere else he might go to get more for the lot. I can think of a million other things to do or say instead of belittleing him with such an insulting low ball. It is not illegal or imortal but just not nice and really not good business practices.
LEE has a lot of convenience factor. In ten minutes, I can drive there and back. FS takes a good 40 each way. That's an hour and 10 minutes less. They're a small shop, so there is almost never any waiting periond. Most of the people there are socializing and eating free pizza. FS is rarely quiet. If I want something right now and time is tight, I'll gladly pay $50 more for a gun at LEE if it'll save me two hours.
My first purchase was at LEE. The owner spent a lot of time showing me how everything worked, how to take it apart and clean it. He actually cleaned it, then told me to take it back to him after I've shot it so that he could clean it again, for free. OK, maybe he was also trying to hook a new sucker. On the other hand, he always greets me by name when I walk in. That makes for a nice experience.
You have to haggle over there. A simple "Is that the best you can do?" will usually lower the price to within a reasonable "convenience tax" range.
The low-ball offer was probably a way of saying "Not interested." Scratch them off the list and go to the next.
My first purchase was at LEE. The owner spent a lot of time showing me how everything worked, how to take it apart and clean it. He actually cleaned it, then told me to take it back to him after I've shot it so that he could clean it again, for free. OK, maybe he was also trying to hook a new sucker. On the other hand, he always greets me by name when I walk in. That makes for a nice experience.
You have to haggle over there. A simple "Is that the best you can do?" will usually lower the price to within a reasonable "convenience tax" range.
The low-ball offer was probably a way of saying "Not interested." Scratch them off the list and go to the next.
Yes, MA DOR called it "tax fraud"! Whole story is in the thread on Law Enforcement Supply in the Gun Dealers forum.
Worse yet, they seriously low-balled my PD on 3 smgs they wanted to trade. LE Supply offered the PD $4K in trade-in value, where another dealer (who I referred the PD to) offered them $8K in trade-in value. BTW: I did not know LE Supply was involved when I pushed our Chief to check out other potential offers.
Offering someone 10% of actual value is a real slap in the face! Poor business practice which will result in losing reputation and business.
When I first started shooting, I used to hang out in Coleman's (gun dept manager and other employees used to shoot skeet/trap with me on Sundays). People would come in with guns to sell and they would offer them dirt. Afterwards they would brag about screwing the folks.
At the Marlboro gun show ~1 year ago, I was talking with some NES'rs by the GOAL table when one of our Lts. (and Son) walked by. The Lt. was trying to check out the value of a genuine 1894 collectible gun. He was quoted >$2K for it by a few dealers . . . but he told me about two dealers at the show that offered him $50 for that "old clunker" and an even swap on an old shotgun worth about $50! The Lt. wasn't impressed by the attempts to screw him!
That sort of treatment leaves a real sour taste in one's mouth!
On a side note and a past small business owner. You also have to look at the owner knows his clients and knows what will sell in his or her store. There were time where I could have bought stuff but I know for a fact it would have taken many months to see a sale that would cover the costs of the item or items that I bought. There were many times that I have the opportunity to buy something that I passed on due to the fact it would have sat on my shelves for ever and that is money I am out until it sells. I don't care how little you paid or offered, if you have say 10K on hand and that was your buying fund for times when people brought stuff in to sell, and someone walks in with 40K worth of stuff to sell and you know you can perhaps sell 10% of that to people who are actively looking for those items. Say you make 4K on that 10% but the remainder sits in your inventory for the next 2 years and you sell a piece her and there -- that is a lot of time to have your funds tied up and not get a quick return. Not to mention what if in the package there were say 15 guns both long and short that the dealer already had on his shelves as used and already for sale. That is a situation that is hard to pony up the $$ regardless how good or low the price is. What makes you think if you already have one on the shelf not selling will 2 make them go quicker?
I also understand that they may have low balled and I ma glad he did get a better price for the other dealer. just wanted to point out a different perspective on the buying side.
If the person did not need the $ right away like others said consignment would have been the way to go. Again I am glad he got a better price in the long run.
Just my 2 cents
Bruce
I also understand that they may have low balled and I ma glad he did get a better price for the other dealer. just wanted to point out a different perspective on the buying side.
If the person did not need the $ right away like others said consignment would have been the way to go. Again I am glad he got a better price in the long run.
Just my 2 cents
Bruce
Bruce, a good businessman will be HONEST with the customer!
Tell the customer that "I'm only interested in these x items, sorry but I can't buy the entire lot from you as it doesn't fit my business needs". Customer may or may not deal, but will respect the dealer.
Suggest consignment. Again, customer may or may not deal but won't be left feeling that someone was trying to screw him.
Not every item is suitable for every shop. Some cater to hunters, some to collectors of expensive items, some to competition shooters, and some to defensive gun owners. Each will move product that fits their clientèle where other products would sit there and gather dust. Explaining this to the customer is a win-win for business.
Tell the customer that "I'm only interested in these x items, sorry but I can't buy the entire lot from you as it doesn't fit my business needs". Customer may or may not deal, but will respect the dealer.
Suggest consignment. Again, customer may or may not deal but won't be left feeling that someone was trying to screw him.
Not every item is suitable for every shop. Some cater to hunters, some to collectors of expensive items, some to competition shooters, and some to defensive gun owners. Each will move product that fits their clientèle where other products would sit there and gather dust. Explaining this to the customer is a win-win for business.
I agree and thought put that in the post about being upfront and offering an explanation to the customer. And I, by no means did I imply to be dishonest with the customer as that will come back to haunt you.
Thanks for pointing that out for me LenS.
Thanks for pointing that out for me LenS.
In this day of the computer, many dealers take a few pictures and upload them to one of the auction sites where a tremendously larger customer base has the ability to look at them.
If a dealer was sharp, and made an offer for those guns that he thought he could keep in inventory and sell reasonably soon, he could also offer to sell the remainder on consignment at 20 to 30 percent commission and do the internet route with them.
What is not of interest in MA could be EXTREMELY desired in other parts of the country -- and vice versa.
If a dealer was sharp, and made an offer for those guns that he thought he could keep in inventory and sell reasonably soon, he could also offer to sell the remainder on consignment at 20 to 30 percent commission and do the internet route with them.
What is not of interest in MA could be EXTREMELY desired in other parts of the country -- and vice versa.
