What is the fair value for a used handgun??

[sangamospecial23j]

I have a Kahr PM40 I picked up in trade yesterday and it looks to be in over 95% condition. I know the new selling price was $643 at the local gun shop and they are $645 on Buds Guns. What my question is what is a fair figure to knock off the retail value because the weapon has been fired a few hundred rounds? Should I take off 10% 15% 30%? I often feel that the gun dealers really throw out low ball offers because they can. If I walked into Midwest guns and asked to sell it what can I realisticly expect as an offer? I do know that the last 4 or 5 PM40's listed here on INGO went quickly and were all priced above $550. I'm just wondering what you experts who have a lot more experience in these kind of deals think and feel about what is fair. I'm not looking to break the bank, but I'm also not looking to get fleeced. Any help and suggestions that you can provide I would very much appreciate.

 

[gajones06]

I would expect a dealer to offer you around half of what a used one would sell for. No selling it privately depends on the demand for the gun. I just sold a glock 17 rtf2 for 500 bucks used when that was how much I paid for it. Higher the demand more you can ask. A great place to get an idea would be gun broker. Check an see what they are going for used on there.

 

[cobber]

Figure fair used price minus 10% and stick to that (unless you need the money pronto).

Or get shop credit towards something you want.

Or sell it on consignment, or list online, although lots of firearms on Gun Broker are way overpriced IMO.

 

[marshallartist]

Typically the best you can get is 80% of the new price for a person-to-person sale and a dealer will rarely give more than half the new price.

 

[Kunkel]

I went to my local shop last weekend hoping to trade my wife's lcp for a pk380....she has maybe put 50 rounds through due to the size she doesn't like and it's in pristine shape....I take the gun in and ask what they would do on a trade and I got offered $100 for the gun and was kinda set back by this I asked well what are you going to sell it for a he comes back with $300. Hearing this I pack up the gun and leave and don't believe I'll be doing business there any time soon. But after that long rant I guess I'm trying to say its hard telling I would maybe take 30-40 bucks off the retail and go from there

 

[jeremy]

I'll give you $50 for it if you do most of the driving for delivery. If I have to drive to meet you it's $20....

 

[Fixer]

Last time I wanted to value a gun I went to Barnes & Noble and looked through a couple of the gun value books and averaged them. You can expect a 30% drop for a gun shop price on a trade. They like to make a little money on it as they can not sell it for much more than book value.

 

[sangamospecial23j]

I'll give you $50 for it if you do most of the driving for delivery. If I have to drive to meet you it's $20....

Jeremy,

I appreciate your kind offer. Unfortunately I'm going to have to decline. Thank you for considering me just the same. Who know perhaps I'll reget not taking your $50 and running to have dinner with my beautiful wife. Only time will tell.

 

[sangamospecial23j]

I went to my local shop last weekend hoping to trade my wife's lcp for a pk380....she has maybe put 50 rounds through due to the size she doesn't like and it's in pristine shape....I take the gun in and ask what they would do on a trade and I got offered $100 for the gun and was kinda set back by this I asked well what are you going to sell it for a he comes back with $300. Hearing this I pack up the gun and leave and don't believe I'll be doing business there any time soon. But after that long rant I guess I'm trying to say its hard telling I would maybe take 30-40 bucks off the retail and go from there

Kunkel,

My friend I would have been insulted also. This in my book makes them look worse than a used car salesman. I would have asked him what in his mind justifies a 200% profit margin on your weapon?

 

[Redskinsfan]

Figure fair used price minus 10% and stick to that (unless you need the money pronto).

Or get shop credit towards something you want.

Or sell it on consignment, or list online, although lots of firearms on Gun Broker are way overpriced IMO.

Agreed, but...

Guns on INGO are yet worse in their pricing. I only look when I want to chuckle at the absurdity.

 

[the1kidd03]

At a local gunshop you can expect to be offered 50-60% of the price they have it marked on their shelf new. Their typical rule of thumb is to offer 60% of the price THEY pay for a new one and THEIR price is obviously a little less than what they have on their stickers.

So, if you have a $650 gun (NIB) they will typically offer you around $325 give or take a little.

Now, it's important to consider that not EVERYONE shops at YOUR local gun shop. So people wherever you choose to advertise may be used to lower prices. That being said, it is rare to find a lower price than that on the internet. More specifically, Buds Gun Shop and Gunbroker.com are generally the cheapest places. These are my comparison tools. If I find something I'm interested in, I check those places first before buying. If I can get it online cheaper and in better condition or something to that effect, then I won't be interested in yours at the same price.

NOW, as the seller you can choose ANY price you want. That doesn't mean anyone's going to be willing to pay it. It's up to you to sell it for whatever you negotiate for with the buyer.

IMO, a fair way to evaluate your selling price is to consider your used market competition (online), while staying anywhere in between that $325 and the cheapest NIB price you find online AND/OR the average used price you find on comparible items. The price you select in that range is up to you based on your sentimental value, need to sell, needed funds, used competition online, etc. HOWEVER, expect to wheel and deal, haggle, negotiate, etc. It's simply a part of business transactions and nothing to worry about. Ultimately, it's up to you whether or not to sell it.

 

[sangamospecial23j]

At a local gunshop you can expect to be offered 50-60% of the price they have it marked on their shelf new. Their typical rule of thumb is to offer 60% of the price THEY pay for a new one and THEIR price is obviously a little less than what they have on their stickers.

So, if you have a $650 gun (NIB) they will typically offer you around $325 give or take a little.

Now, it's important to consider that not EVERYONE shops at YOUR local gun shop. So people wherever you choose to advertise may be used to lower prices. That being said, it is rare to find a lower price than that on the internet. More specifically, Buds Gun Shop and Gunbroker.com are generally the cheapest places. These are my comparison tools. If I find something I'm interested in, I check those places first before buying. If I can get it online cheaper and in better condition or something to that effect, then I won't be interested in yours at the same price.

NOW, as the seller you can choose ANY price you want. That doesn't mean anyone's going to be willing to pay it. It's up to you to sell it for whatever you negotiate for with the buyer.

IMO, a fair way to evaluate your selling price is to consider your used market competition (online), while staying anywhere in between that $325 and the cheapest NIB price you find online AND/OR the average used price you find on comparible items. The price you select in that range is up to you based on your sentimental value, need to sell, needed funds, used competition online, etc. HOWEVER, expect to wheel and deal, haggle, negotiate, etc. It's simply a part of business transactions and nothing to worry about. Ultimately, it's up to you whether or not to sell it.

Kidd,

I very much appreciate your insight. I was leaning in the direction your path leads me on.

 

[the1kidd03]

Kidd,

I very much appreciate your insight. I was leaning in the direction your path leads me on.

There comes a point in any used market deal that decisions are weighed against options. As the buyer, if you have the gun I want that's in 95% condition with one magazine and no original packaging, but I find it in equal or better condition online with 5 magazines and the original box for the same price (after shipping and transfer)...then it only makes sense to offer you a little less because you're not offering the same as what else is available to me. You, or anyone here would make no different decision typically.

For this reason, I find it extremely funny when people get so butthurt about negotiating sales when they in turn do the same thing when on the other side of the transaction.

Of course, none of this means you HAVE to sell it for anything you don't want to. That is always YOUR decision as the seller.

 

[sangamospecial23j]

There comes a point in any used market deal that decisions are weighed against options. As the buyer, if you have the gun I want that's in 95% condition with one magazine and no original packaging, but I find it in equal or better condition online with 5 magazines and the original box for the same price (after shipping and transfer)...then it only makes sense to offer you a little less because you're not offering the same as what else is available to me. You, or anyone here would make no different decision typically.

For this reason, I find it extremely funny when people get so butthurt about negotiating sales when they in turn do the same thing when on the other side of the transaction.

Of course, none of this means you HAVE to sell it for anything you don't want to. That is always YOUR decision as the seller.

As a general rule I tend to very much shy away from becoming butthurt about pretty much anything. Life is too short, and it sounds quit unpleasant. Thank you again for your tips. I have listed it here. We will see what results that brings.

 

[the1kidd03]

As a general rule I tend to very much shy away from becoming butthurt about pretty much anything. Life is too short, and it sounds quit unpleasant. Thank you again for your tips. I have listed it here. We will see what results that brings.

I tend to avoid selling guns and have not listed here before. Theoretically, those on here would be more "up to speed" with available pricing and IME those who frequent Armslist.com aren't big "gun guys." So, keep that in mind when buying/selling. People who don't know much about available prices tend to hit that site which can be an advantage to you.

 

[kludge]

For LNIB with low round count (they took it to the range once basically), it's got to be at least 10% off new or I'm not interested.

Most LNIB guns I see here on INGO are priced higher than new from PSS, so that won't fly, but there are many people who don't want to fill out a 4473 for whatever reason and this caters to them I think.

I'm also very wary of these guns because some people will have a problem with a gun and sell it rather than get it fixed - another reason I shy away from LNIB guns.

If it's got any kind of wear, it's at least 20%.

If it's a gun that is no longer in production I take that into consideration.

 

[sangamospecial23j]

For LNIB with low round count (they took it to the range once basically), it's got to be at least 10% off new or I'm not interested.

Most LNIB guns I see here on INGO are priced higher than new from PSS, so that won't fly, but there are many people who don't want to fill out a 4473 for whatever reason and this caters to them I think.

I'm also very wary of these guns because some people will have a problem with a gun and sell it rather than get it fixed - another reason I shy away from LNIB guns.

If it's got any kind of wear, it's at least 20%.

If it's a gun that is no longer in production I take that into consideration.

Kludge,

Thank you for the information. So your suggestions brings me to another question. Lets say 10% off for LNIB. Is that including tax? In a retail setting they are getting another 7% added right to the top. By your train of thinking which number does the 10% come off?

I have it listed here for $495 with the 80 rounds of ammo. So that would equate to a 23% discount from Midwest Gun's New price. If you include the tax it equates to a 28% discount, and that would be the true savings off in a retail format.

 

[the1kidd03]

Kludge,

Thank you for the information. So your suggestions brings me to another question. Lets say 10% off for LNIB. Is that including tax? In a retail setting they are getting another 7% added right to the top. By your train of thinking which number does the 10% come off?

I have it listed here for $495 with the 80 rounds of ammo. So that would equate to a 23% discount from Midwest Gun's New price. If you include the tax it equates to a 28% discount, and that would be the true savings off in a retail format.

That's generally up to you. As a "smart shopper" I tend to include the cost of sales tax into the price of an item purchase, even though the business does not keep that money. Typically, that tax tacked on the end of a sticker price is the deciding factor in most cases which makes the LGS more expensive than online purchases. I can typically buy online cheaper because of the sales tax and so I often do. That being said, I would advise you consider the percentage to come off that of the sticker price. Either way, you're looking at it in a sense of "discount" amount to be fair when really to be fair (in the eyes of the buyer) you must compare it to other available identical/similar items. ie. Sure, your 28% discount sounds good, but I can get it online used and in the same condition for say $30 less than you're asking. So here again, it's all weighed against options for a buyer. You as the seller simply must decide what's the lowest you will go and go from there, but expect EVERYONE to bargain/haggle with you. SO, typically price a little higher than your true minimum. And DON't "sell yourself short" when someone simply asks, "what's your bottom dollar?" You're just cutting yourself short if you answer this because that buyer could have full intentions of buying at your listed price.

 

[kludge]

No, I don't consider the sales tax. Some do; I don't. What's that, less than $30 on a $400 gun? It's peace of mind that I'm the original owner and won't have any issues getting warranty work done. Plus, the dealer I usually buy from will be helpful in facilitating the shipping. Even then, used prices on INGO for the XD-40sc I wanted were running $425-$450. I got one new at the Indy 1500 for $400+tax. Even if you include parking and entry fee I still made out.

If I'm buying FTF it's because I'm getting a good deal... Example, my last FTF was a Bersa .380. At the time they were $250 new; they've crept up a bit since then. I got the gun for $225 with two boxes of ammo (~$30) and a spare magazine (~$35). Basically the guy shot 50 rounds through it and decided to sell. He didn't even clean out the factory grease - evidence to me that it was in fact "new".

I've since bought another... a Bersa .380 CC. I could have got it here on INGO, as I've seen a few for sale, but Bob at PSS had his listed at the same or better price, as usual.

 

[KG1]

Usually when I sell something I know what it's worth. The first thing I do is determine the rock bottom price I am willing to let it go for that I can live with so I can establish a price range to use as a guideline.

Then I adjust my original asking price accordingly and set a price lower than other similar items without over pricing myself out of the market and hopefully it will sell somewhere in between the original asking price and my rock bottom.