Liquidating Firearm Collections

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  • lovemywoods

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    I was talking to a co-worker recently whose father passed away leaving a collection for the family to sell. For families that aren't interested in firearms, this can be a daunting task. How do you make sure you don't get ripped off or get into legal trouble?

    It got me to thinking....

    -- What is the best way to liquidate a gun collection (private sales, auctions, consignment, other)?
    -- Who on the board has had some recent experiences doing this?
    -- Any consignment/dealers in Indiana that people would recommend?
    -- What bad experiences have people had doing this?

    BTW, "Send all the guns and ammo to me" is not an acceptable answer! :thumbsup:


    lovemywoods
     

    Scutter01

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    I was reading a recent story about someone who had a large collection stored in a storage unit in New York. When he passed away, the family went to clear the unit out and discovered that they can't even touch any of the guns, let alone sell them. At least in Indiana we don't have that problem.
     

    pmpmstrb

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    I was talking to a co-worker recently whose father passed away leaving a collection for the family to sell. For families that aren't interested in firearms, this can be a daunting task. How do you make sure you don't get ripped off or get into legal trouble?

    It got me to thinking....

    -- What is the best way to liquidate a gun collection (private sales, auctions, consignment, other)?
    -- Who on the board has had some recent experiences doing this?
    -- Any consignment/dealers in Indiana that people would recommend?
    -- What bad experiences have people had doing this?

    BTW, "Send all the guns and ammo to me" is not an acceptable answer! :thumbsup:


    lovemywoods

    Fine then, send me the guns and my brother the ammo. :lmfao:
     

    techres

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    Contact proxibid.com and check the auctioneers list/map. I know that Christie's of Indianapolis did an auction for an estate. Chuck of Chuck's Gun Repair is selling off items from two estates currently (he does it both by internet and by his shop/contacts).

    Personally, I would auction them off as people seem to pay more than value at auctions.

    Good luck, and let us know if/when they go on the chopping block publicly.
     

    Jay

    Gotta watch us old guys.....cause if you don't....
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    Procedures for dealing with your firearms after your death, should be addressed in your will, or other durable contract. I have designated with the consent of my wife, a non-family member to assist her with the disposition of my firearms.

    At least, that's how I see it..........:thumbsup:
     

    Bigum1969

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    I was reading a recent story about someone who had a large collection stored in a storage unit in New York. When he passed away, the family went to clear the unit out and discovered that they can't even touch any of the guns, let alone sell them. At least in Indiana we don't have that problem.

    That would suck. What happens to the guns? Are they destroyed?
     

    Lock n Load

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    FFort
    Some auctions do well, others dont. But they all get their fees which usually take out the extra profits made.

    Hopefully you do have a will and the how, who and what happens with your collection is addressed. Or at least have a close friend that can assist the family, or maybe have a "trust".

    I know that I keep the current values listed in my log book, and my wife has the understanding that its just a "value" but hopefully that will keep her from getting ripped off if they are sold off.

    But, it all goes to the kids so.....

    Good discussion on this issue,

    Anyone else?
     

    Turtle

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    Could give us a list and see who might be interested on here "hint""hint" :) Could even transfer through an ffl for your won peace of mind.
     

    ARGarrison

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    Jul 13, 2008
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    I'd hope the family would offer freinds of the departed a chance at purchasing an item from the colletion via private sale, even if it went through a FFL.

    I belive the auction is the best choice of liquidating a colletion. Even if you have to wait for two or three colletions to come together for a big auction. Consignment tends to take time with the chance of not very thing selling. At an auction everything sells.
    :twocents:
     
    Last edited:

    lovemywoods

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    Just to clarify...I don't have a collection to dispose of at this time.
    I may have to do this task in the future.

    For now, my question was based on a co-worker who recently lost her dad and is wondering how to proceed. It got me to thinking about how this could be handled.

    So, my apologies to anyone who was getting that giddy feeling when they think a new cache of guns will soon be listed!
     

    techres

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    Just to clarify...I don't have a collection to dispose of at this time.
    I may have to do this task in the future.

    For now, my question was based on a co-worker who recently lost her dad and is wondering how to proceed. It got me to thinking about how this could be handled.

    So, my apologies to anyone who was getting that giddy feeling when they think a new cache of guns will soon be listed!

    Noticed the vultures circling overhead did you?! :lmfao:
     
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