Eons ago, there was some guy - maybe here on NES - that was selling a lot of HUNDREDS of IJ and other lower-tier old revolvers for some stupid-cheap price.
I happened to be at the Springfield Show that next Saturday. ATF had a booth. "So, I have a question. I've got a C&R. If I bought all of these and sold the vast majority of them off over the next couple of years and kept hte ones I wanted, is that considered being a 'dealer?'"
The agent wouldn't give me a straight answer. It all depended. But he did covertly tell me that this would be a BAD IDEA. LOL
I think he was asking $20 ea in the lot. I figured if I could get $100 - even with hassle and shipping, it might work out. Although I've got a pretty good day job, so. . . .