Straw Purchase??

[donballz]

My LGS has some EBG's for semi-reasonable prices and I was thinking of picking a couple up tomorrow and making the two hour trip to the 1500 for the obscene profits. Is this considered a "straw purchase"?

My name is Don. I don't want to sell guns, I just love to make money!

 

[HavokCycle]

if you buy guns for the intent purpose of reselling i do believe that is illegal.

 

[donballz]

i figured. thanks.

 

[NetPIMP]

IANAL

I think "straw purchase" refers specifically to buying on behalf of someone you know is not allowed to possess, or for someone other than yourself in general.

That said, I think what you're wanting to do is a business transaction, wherein you're looking to acquire a firearm for the express intent of selling it for profit - for which, you need an FFL.

Again, IANAL...

Soo.... seems to me that while Don loves to make money sellin' guns, he has the license required to do it.... aaand you're announcing to the Internetz that you want to do what he does without the license required.

I'd think twice now...

Third time: IANAL

 

[Mosinguy]

You bought them and decided they weren't "you". You decided to sell them and because of the market you got a nice profit. Nothing illegal with that when you put it like that instead. Just don't let other INGO members see this post because they'll complain about you being a filthy gouger.

 

[donballz]

Hey, its a crime not to part a fool with his money. At least I will put it to good use! (buying other guns)

 

[CitiusFortius]

You bought them and decided they weren't "you". You decided to sell them and because of the market you got a nice profit. Nothing illegal with that when you put it like that instead. Just don't let other INGO members see this post because they'll complain about you being a filthy gouger.

Not to be debbie downer, but it's the people skirting the law like that that's going to ruin it for everybody else.

We often use the phrase "law abiding gun owner" , well, if you do that you're no longer law abiding now are you?

 

[PriestEG]

Not to be debbie downer, but it's the people skirting the law like that that's going to ruin it for everybody else.

We often use the phrase "law abiding gun owner" , well, if you do that you're no longer law abiding now are you?

i agree with the above.. while it may not be completely illegal it seems some what unethical to do such a thing. gun owners need to hold themselves to the highest standard of the law in every way shape and form right now to keep the general, ignorant public from thinking we are anything but awesome!!

 

[Mosinguy]

It's a suggestion. Is it illegal? Highly debatable. I honestly think it's one of thos laws like 922r compliance. If you aren't in compliance with 922r a SWAT team won't break down your door. It's just something to add to another charge against you if they arrested you and cared enough to check your AK for those 6 US parts . If you sold 50 guns a year for profit then yeah the ATF will have a chat with you. Sell a few, well they have bigger fish to fry. IMO IANAL YMMV YOLO #SWAG

 

[donballz]

I want to be clear that I do not plan to do this given it could even construed as illegal. That's why I asked. I figured best case scenario I would make $400 on two guns less gas. Simply not worth any criminal risk.

 

[eSC]

Not to be debbie downer, but it's the people skirting the law like that that's going to ruin it for everybody else.

We often use the phrase "law abiding gun owner" , well, if you do that you're no longer law abiding now are you?

How is he skirting the law? Buying and selling in spurts, even for profit, does not violate Indiana law as far as I can tell:

IC 35-47-1-3
"Dealer"
Sec. 3. "Dealer" means any person who holds himself out as a buyer and seller of handguns on a regular and continuing basis.
As added by P.L.311-1983, SEC.32.

And I could not find a rock-solid federal restriction either:

§ 921. Definitions
(a) As used in this chapter—
(21) The term “engaged in the business” means—

(C) as applied to a dealer in firearms, as defined in section 921 (a)(11)(A), a person who devotes time, attention, and labor to dealing in firearms as a regular course of trade or business with the principal objective of livelihood and profit through the repetitive purchase and resale of firearms, but such term shall not include a person who makes occasional sales, exchanges, or purchases of firearms for the enhancement of a personal collection or for a hobby, or who sells all or part of his personal collection of firearms;

.

 

[Colinb913]

Sorry, I hate to be this guy. But doing that might be the biggest ass hole douche bag move I have read on INGO. You want to go and ream a fellow gun owner out of his own money? I understand people are buying things at stupid high prices. But I wouldn't dream of selling any of my guns at a hyper inflated price, just for fun.

That's a ass hole move. I would never go out of my way, or purposely scam another gun owner like that. Just my $0.02

 

[donballz]

In what way is it a "scam". It's a free market transaction. People are paying prices for guns that present me with a clear arbitrage opportunity. Im a fool if i dont do it (legal concerns notwithstanding). I didn't create this market and I can't force anyone to buy anything.

 

[rlspach]

Its not a straw unless you are knowingly purchasing for someone who cannot legally purchase. Even if you lie on the 4473. There is an interesting case study; check here:

Gun Control 09

I don't know whether intent to resell makes you a "dealer". Probably not for small amounts.

And you are not a douche for buying low and selling high. No one is forcing the buyer to pay your price. Hell the buyer could do the same research and work as you to find it at the same place at the same lower price. But, they don't want to. They want to pay you for that effort.

It's called free market capitalism. Don't let the socialists tell you otherwise.

 

[Indyhandgunner]

I don't think this would qualify as a straw purchase, and I don't think you would have to worry about being an FFL either.

I don't quite understand the hate for people trying to flip a gun or two with the panic in full swing. I don't necessarily support it, but they're the ones taking a risk trying to cash in. Most reasonable people I know would never be willing to pay the gouged prices now, but if someone is convinced a ban is coming, more power to them.

 

[Roscoe38]

This morning I have read through two threads on the forum???? Both going nowhere.. I think a nap might be more informational.

 

[asevans]

If buying low, selling high is illegal. Then everybody with a 401K is a criminal. As long as your not selling to a known felon, whats the big deal?

 

[Rocket]

It is called trafficking. Buying with the intent to sell. I have zero problem with anyone that can make a buck. But If caught it will at best ruin your day. At worst? My friend was standing in line at 1500 one year and guy next to him bought a 10/22 for cheep from a line waiter. He got inside and someone offered him double what he paid for it. (ATF sting?) he got a shiny new pair of bracelets to borrow and a free ride downtown. After that I do not know what happened.

Just saying. Skirting the law is a personal thing. Your an adult Presumably, your choice. Make sure you do not skirt the law by going 56mpg in a 55mph zone on the way there. But your chicken has flown the coop as they say. So I advise against it.

 

[DRob]

............................... he got a shiny new pair of bracelets .............

They are "one size fits all"!

 

[Car Ramrod]

It is called trafficking. Buying with the intent to sell. I have zero problem with anyone that can make a buck. But If caught it will at best ruin your day. At worst? My friend was standing in line at 1500 one year and guy next to him bought a 10/22 for cheep from a line waiter. He got inside and someone offered him double what he paid for it. (ATF sting?) he got a shiny new pair of bracelets to borrow and a free ride downtown. After that I do not know what happened.

Just saying. Skirting the law is a personal thing. Your an adult Presumably, your choice. Make sure you do not skirt the law by going 56mpg in a 55mph zone on the way there. But your chicken has flown the coop as they say. So I advise against it.

From my understanding, you must hold a firearm for 24hours before reselling it. If you turn around and resell immediately, you may be construed as a dealer and subject to their procedures and regulations.