First Sale that went negative: lesson learned

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  • doddg

    Grandmaster
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    135   0   1
    May 15, 2017
    8,643
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    Indianapolis
    (Heavy Sigh)...
    Once again, I am going to suggest you purchase a copy of S.J.Fjestad's Blue Book of Gun Values.
    Pay particular attention to the PPGS firearm grading section.
    It will help you be able to describe,price,and defend your
    Pricing and Descriptions.

    1. The Colt Mustang .380 is valued at:Exc. Cond: $650.00 USD
    V.G. Cond: $475.00 USD
    Good Cond: $300.00 USD
     

    Alpo

    Grandmaster
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    2   0   0
    Sep 23, 2014
    13,877
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    Indy Metro Area
    Blue Book numbers are what Hector Barbarossa describes in Pirates of the Caribbean in this manner:

    the code is more what you'd call "guidelines" than actual rules

    If you figure a dealer on trade-in will give you 50% of the value shown for the category and resell it for $50 more than his purchase price, that tells me that the $400 offer you received at retail was a pretty good one.

    It's hard to tell someone that expectations are almost always set too high for used equipment...and 80's Colts, including the famed SAA, even more so.
     

    doddg

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    135   0   1
    May 15, 2017
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    What would you grade your firearm at?

    1. I don't know, that's why I was selling it at $500 b/c all the other prices I saw on Gunbroker were normally $600+ (some more and some less).

    Blue Book numbers are what Hector Barbarossa describes in Pirates of the Caribbean in this manner:
    If you figure a dealer on trade-in will give you 50% of the value shown for the category and resell it for $50 more than his purchase price, that tells me that the $400 offer you received at retail was a pretty good one.
    It's hard to tell someone that expectations are almost always set too high for used equipment...and 80's Colts, including the famed SAA, even more so.

    2. I can't question your deductions.
    3. When reality catches up with perceptions: truth will reign.
    4. It will be interesting to see how all this ends.
    5. This is truly a case of I will learn what the market bears.
    6. Even I don't know how it will end. I can keep lowering the price till someone bites.
    7. If I didn't like my Glock 42 better, I'd sell it and use this gun as my .380 when needed, but I just don't like it, and I'm old enough that that is reason enough not to keep it. :laugh:
    8. It is hard for me to believe that my 1911-style Colt Pocketlite is only worth $400, which is what I paid for my used Glock 42.
    9. So much for saving what I thought was a special piece for 3 decades.
     

    G192127

    Sharpshooter
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    15   0   0
    Feb 19, 2018
    440
    63
    Shelbyville
    Another...Heavy Sigh...
    You got something against book learning???
    Any mouse dragger can compare internet prices.Yes,it shows prices based on % condition, but it tells oh so much more- IF you know how to use it.
    Knowledge is power.
     

    doddg

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    135   0   1
    May 15, 2017
    8,643
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    Short story: SOLD

    As life would have it, while I was having a "date" with Pizza and a Denzel Washington movie (don't I know how to show a girl a good time!), someone had emailed me around 5 pm (who had emailed around 1 pm offering $400, and I told them what they could buy for $400, but not a Colt Mustang), and they were emailing back: did I have any wiggle room in the price, but they would pay the $500 (it was for his wife who didn't like her Shield .45).

    I emailed back round 7:30 pm and said OK and got home a few minutes ago with my $500 in a quick transaction: he was very happy as was I.
     

    croy

    Master
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    24   0   0
    Apr 22, 2012
    1,875
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    Indiana
    Another...Heavy Sigh...
    You got something against book learning???
    Any mouse dragger can compare internet prices.Yes,it shows prices based on % condition, but it tells oh so much more- IF you know how to use it.
    Knowledge is power.
    I put zero stock in those blue book gun values. Look at completed gunbroker auctions. Its more real world than a book that is quickly outdated.
     

    Trigger Time

    Air guitar master
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    204   3   0
    Aug 26, 2011
    40,112
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    SOUTH of Zombie city
    I put zero stock in those blue book gun values. Look at completed gunbroker auctions. Its more real world than a book that is quickly outdated.
    Yep the books have never meant **** to me either. Usualy overpriced bull crap is all thats in those books.
    I like history of sales. Ingo sales are best as long as people dont erase prices (if they follow the rules). Because that's a quick local idea of the buying climate. The great deals are getting harder to find but I see good deals and fair deals regularly. But great deals are still here occasionally.
    Cant beat the ingo classifieds. I like knowing who I'm doing a deal with and looking someone in the eye. I'll take that over a computer preferably but sometimes them online deals are just too good to pass up. Transfering stuff is a pain in the butt because of all the crap you have to figure out how to fill out right and then transfer documents or whatever they want for the FFL so more times than not I pass due to being computer stupid. Then add in the transfer fee.
    I always will try to buy local first 9 times out of 10
     

    doddg

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    135   0   1
    May 15, 2017
    8,643
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    I put zero stock in those blue book gun values. Look at completed gunbroker auctions. Its more real world than a book that is quickly outdated.

    1. As was with 2 other hobbies I had: antique cars and comic books.
    2. It varied greatly in different parts of the country and right now according to the Comic Guides my Star Trek 1960s #1 is worth somewhere between $1700 and $7000 and yet you can go on ebay and buy all (#1- #66) of them for $600 on a lucky day (which is what I'm going to sell mine for when I get around to it).
     

    doddg

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    135   0   1
    May 15, 2017
    8,643
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    Yep the books have never meant **** to me either. Usualy overpriced bull crap is all thats in those books.
    I like history of sales. Ingo sales are best as long as people dont erase prices (if they follow the rules). Because that's a quick local idea of the buying climate. The great deals are getting harder to find but I see good deals and fair deals regularly. But great deals are still here occasionally.
    Cant beat the ingo classifieds. I like knowing who I'm doing a deal with and looking someone in the eye. I'll take that over a computer preferably but sometimes them online deals are just too good to pass up. Transfering stuff is a pain in the butt because of all the crap you have to figure out how to fill out right and then transfer documents or whatever they want for the FFL so more times than not I pass due to being computer stupid. Then add in the transfer fee.
    I always will try to buy local first 9 times out of 10

    1. As for the alleged volume of guns I have bought/sold this past year, I only bought 1 online (Beretta 92), 4 at one gun shop an 4 at another the rest here or on Armslist.
    2. Just today I saw the Beretta 92 at Marksman Shooting Sports in Westfield for the same price I paid after going online and shipping it to a dealer: lesson learned.
    3. Some guys get some great deals online that I've read here, though.
    4. I have paid a few buck more to buy local in a gun shop (new and used) when I couldn't do much better in private sales.
     

    doddg

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    135   0   1
    May 15, 2017
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    Bottom line is this:
    The speckling on top of the slide (whatever it is) should've been disclosed at the outset and shown in a picture, without question.

    1. Agreed.
    2. Apparently I'm so used to it with that "matte" finish, it never occurred to me, and when I was taking pics I do rt. and left side.
    3. I didn't notice anything on top and unless the light was shining on it just right, I didn't notice.
    4. I had to take pics with the light on it just so it would pic up the "smudging."
     

    pute62

    Master
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    23   0   0
    Jan 29, 2009
    2,178
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    Lawrence
    (Heavy Sigh)...
    Once again, I am going to suggest you purchase a copy of S.J.Fjestad's Blue Book of Gun Values.
    Pay particular attention to the PPGS firearm grading section.
    It will help you be able to describe,price,and defend your
    Pricing and Descriptions.

    May have worked well in the 80’s early 90’s before when the Trader Paper was all you could go by but with the invention of the World Wide Web, the BBOGV became outdated and has been ever since.Google and Gun Broker are your friend nowadays. That and, it’s only worth what someone is willing to pay is always good advice.
     

    doddg

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    135   0   1
    May 15, 2017
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    May have worked well in the 80’s early 90’s before when the Trader Paper was all you could go by but with the invention of the World Wide Web, the BBOGV became outdated and has been ever since.Google and Gun Broker are your friend nowadays. That and, it’s only worth what someone is willing to pay is always good advice.

    1. Yes, so true.
    2. I remember that I had a 1941 Plymouth with a modern drive-train and had $6000 in it (huge at the time for me).
    3. I bought it for $2400 and immediately put a beautiful blue paint job on it as it was in primer: and learned alot about everything that could go wrong with an antique.
    4. After having/enjoying it for a year I tried to sell it and couldn't sell it for 2 yrs.
    I put a price on it of $3000 which to me was a "give-away," but I needed my money out of it badly.
    5. My wife sold it while I was at work one day. :ugh: I still can't believe it!
    6. The right buyer had to come along.
     

    Bravo619

    Shooter
    Rating - 0%
    0   0   0
    Feb 2, 2017
    17
    3
    Tulsa
    Well it really comes down to you should have looked it over better before listing it. Everyone knows there is always an asshat somewhere in the crowd and unfollow you got to meet him. Glws


    The forum of people who don’t know how to ship
     

    thunderchicken

    Grandmaster
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    5   0   0
    Feb 26, 2010
    6,444
    113
    Indianapolis
    Sounds like it was just a matter of the potential buyer wanting to renegotiate the price once he saw the marks on top. And you holding firm to what you feel the value is and not being willing to give it away.

    If the buyer was a collector looking for a pristine gun then they should have asked you for more pictures to see more detail. It's a used gun that you have had for 30yrs so don't sweat it. Sometimes a deal can't be reached, that's part of it
     

    doddg

    Grandmaster
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    135   0   1
    May 15, 2017
    8,643
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    Indianapolis
    Sounds like it was just a matter of the potential buyer wanting to renegotiate the price once he saw the marks on top. And you holding firm to what you feel the value is and not being willing to give it away.

    If the buyer was a collector looking for a pristine gun then they should have asked you for more pictures to see more detail. It's a used gun that you have had for 30yrs so don't sweat it. Sometimes a deal can't be reached, that's part of it

    1. The person who bought it later that evening was thrilled to get it for his wife (for the $500) insisting we get together last evening around 8:45 instead of waiting till Saturday (I had to put my pants and shoes back on :lmfao:).
    2. What is ironic is that he had a huge 1911-style gun that looked "identical" to the Mustang (I didn't recognize the brand).
    3. He texted me about an hour later telling me his wife loved it! She was carrying a Shield .45 and didn't like the size
     

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