Maggie’s Question for Gunshop Owners

VJJPunisher

VJJPunisher

Necromancing the stone
Full Member
Minuteman
Apr 30, 2010
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prison purse
#1
Ok fellas so here's the background to my question,

A couple weeks ago I went to a local shop with which I have had good experiences with in the past and a good relationship with the owner. I took a Sig 556 SWAT with me to maybe sell/trade or just get an idea of what they could work out on it(gun that I just didnt need or shoot much since I have quite an arsenal of variants of AR's). After a little haggling we were to an offer of he gives me a winchester 1917 enfield (beautiful condition, matching parts and I love the old "issue" guns) and 400 bucks cash. Well I was on the fence and the guy says and I quote "to be honest man, I'm gonna put it on the shelf for 1,200 dollars and see if I can get that". I ended up walkin out with above trade and cash and actually happy with it. Fast forward to yesterday when I went back in the shop to pick up a transfer (thanks Jamescaan) and while waitin on the background check saw my Sig, and the tag on it asking $2,200!

so my questions are this to you guys that own/operate gunshops

1) whats the average or "normal" mark up you are lookin to get on trade ins(I understand its a business and you need to turn a profit)?

2) is this seen as "good business"?

felt good about the deal till yesterday, now I don't think I will ever go back there, would be different if he never said what he was gonna ask for it, cause now it's like he lied straight to my face
 
#3
Re: Question for Gunshop Owners

I think his lying was wrong, but if you were happy with the trade I don't see the problem. I assume you knew the value of your rifle, and the value of the rifle you traded for. If the $400 cash made up the difference then the trade was good.
He can ask anything he wants. Is that rifle worth that much?

Jim
 
#5
Re: Question for Gunshop Owners

He'll never get 2200 for it, you should be happy with the trade and cash. THen again, some jabroni may pay that much for it, but in the mean time you have the Enfield and $400 to play with. All is good for you.
 
#6
Re: Question for Gunshop Owners

Maybe he marked the tag wrong? You might ask him if he really meant to ask that much for it. He might appreciate you helping him if it is a mistake. It's always a good idea to make a friend with a gunshop.

Jim
 
#7
Re: Question for Gunshop Owners

He may have "artifically" priced the gun high knowing that someone is gonna offer less. Especially since its a used gun. On the surface it kinda sucks, but he needs to pay the rent too. Although, it would be shitty if the owner rolls up in a 100 thousand dollar car. then it would suck and he was taking advantage of your trust and loyalty. Thats how i feel anyway.
 
#8
Re: Question for Gunshop Owners

I think he has the price jacked up and if someone is really interested, he'll come down on the price and the guy will think he got a good deal.
 
#9
Re: Question for Gunshop Owners

Shop I work through here in town doesn't do that, but I have seen some that do.

He probably is raising the price to get people who HAVE to haggle (people like my dad haggle at Footlocker) so they can feel better about getting it for 1600 bucks.

"Wow Jim, I talked that guy down 600 bucks!"

And of course there might be that one person that walks by, goes HOLY CRAP I WANT THAT and he makes a good profit.
 
#11
Re: Question for Gunshop Owners

1200 is much more in line with a used sig 556 price. I think he made a mistake because he would have to be dreaming to think he can get 2200. I like to give people the benefit of the doubt until proven otherwise. Why risk your current good relationship with a local gunstore over what could be nothing more than a error? just my opinion.
 
#12
Re: Question for Gunshop Owners

What does it matter what he ask for it ? You got what you were happy with on a trade . He can ask 4,200.00 if he wants to all his customers will see him for the asshole he is !! I can ask what ever price I want on a system but the fact is customers are NOT ignorant about values of weapons. If they are it is as W.C.Fields said "Afool and his money are soon seperated"
 
#13
Re: Question for Gunshop Owners

dude that place bend a guy over...every time,lol. If its the place im thinkin of k dont go there unless im wanting a prostate exam with 2 hands on my shoulders and no ky
 
#14
Re: Question for Gunshop Owners

When you give, you let go.

When you sell, same same.

It's not your property anymore, and not your business what the new owner does with it. Whatever marketing methods they employ is of interest from an educational viewpoint, and nothing more.

Greg
 
#15
Re: Question for Gunshop Owners

It matters not what he is asking for the rifle.......what matters is he lied to the man in their bargaining about what price he would list the rifle. He used that number as a tool in his bargaining and to justify the value he gave for the rifle. He's dishonest at worst and a glorified used car salesman at best. No way to build a relationship future business.
 
#16
Re: Question for Gunshop Owners

That is exactly what he did. He put a low number on it because that makes you think, well its a fair price if that is all he is gonna get for it. The $2200 price tag is not a mistake. He is playing the odds that 1 out of 100 people will pay that price because of the "shock & awe" factor and because they don't know any better. The people that just know enough to be dangerous will haggle with him, and he'll "be able to let it go" for $1600-1800. Technically, he lied to you about what price he was going to ask for it, but if you say something to him he'll start telling you every bill he has to pay, and how the economy sucks and he never expects to get that amount for it and he had to build in some room for negotiation. What he should have said was, I'm gonna jack the price up higher than a giraffes ass and see how much I can get for it, but here is what I'm willing to pay for it. I can respect a man for trying to make a dollar better if I know up front that he plans to make it off me. I'm not gonna cut my own neck in a deal and I don't expect him to do it either.

Kelly
 
#18
Re: Question for Gunshop Owners

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ggmanning</div><div class="ubbcode-body">It matters not what he is asking for the rifle.......what matters is he lied to the man in their bargaining about what price he would list the rifle. He used that number as a tool in his bargaining and to justify the value he gave for the rifle. He's dishonest at worst and a glorified used car salesman at best. No way to build a relationship future business. </div></div>

well put and couldnt agree more, it's just the point, I give two shits what he gets out of it, hell good for him to make some money, but at the cost of ly'in to a good customer, just says to me your shady and dont earn my respect
 
#19
Re: Question for Gunshop Owners

but I digress guys, really the whole point of this thread hasnt been answered,

what if any is the norm shops go with as far as profit margin on trade-ins? really so I have an idea next time what a reputable business man is needin to come out lookin good on his end. What percent is what they go into any deal lookin to make as a "general"?
 
#22
Re: Question for Gunshop Owners

30-50% depending on the value of the firearm involved. The higher the value of the piece the lower percentage I'm looking for.
 
#23
Re: Question for Gunshop Owners

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Rhys</div><div class="ubbcode-body">30-50% depending on the value of the firearm involved. The higher the value of the piece the lower percentage I'm looking for. </div></div>

I would agree. Retail prices are pretty much fixed so, used guns are where opportunities are for making a larger profit.

He should have just kept his mouth shut about what he was going to ask.
 
#24
Re: Question for Gunshop Owners

thanks guys, at least now I know what the norm is and can plan accordingly. I will be sure to teabag the cheekweld area of the next rifle I trade so if you are ever in a shop, shoulder a rifle and it smells like shwetty balls, think of me!
 
#25
Re: Question for Gunshop Owners

Hell feel lucky here in MI they aren't giving anything for used rifles. Everybody in my area is out of work. I took a mint Ruger RSM .375 H&H w/ box papers and Leupold VX-III 1.5-5 I mean $2000 worth of rifle and got offered $550 for it. I told them to sent all of them they could find at that price my way. I mean I would have taken $1300 and been happy to buy a new toy from them but that was insulting. My friend took a remington 1187 thumbhole rifled slug gun w/ a Leupold on it in there and they offered him $300 for it. Hell he paid almost $700 from the same store a few months ago for the gun w/out the glass.
 
#26
Re: Question for Gunshop Owners

I can certainly see why they are not paying much for firearms in your area. If everyone is out of work, where are they going to find customers with enough money to purchase your 375? That's a gun that most likely will not sell until closer to fall. So the gun shop owner has to consider investing his capital in your rifle and holding it for 6 months before being able to sell it. And that is if anyone is left in the area with enough money to purchase it even at that time.

The shotgun is probably a similar problem. Around here that thing would never sell as we don't have shotgun deer hunting in these parts. Even if the gunshop owner put the gun on gunsamerica, he would be reaching a limited market as only the eastern states have use for that kind of shotgun. So, again why would he invest in a long term situation like that for anything other than low buck.

Our local shop tells folks right up front that if they want to trade or if they want the store to buy it outright, they will not be happy with the price. They offer consignment sales and the customer is welcome to price the firearm as they wish. They are told that the lower the price, the sooner it will sell, but if they want to get high buck for it, they will have to wait for the right customer.

I would bet that 80% of customers I've seen in this situation decide to consign their firearms for the higher return.

Also, now the gun shop owner has the consigned firearm for sale as well as being able to invest his own capital in other new inventory.
 
#27
Re: Question for Gunshop Owners

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Insert Name Here</div><div class="ubbcode-body">Unfortunate. Reminds me of the shop that wants $35 for 1 lb of H335 </div></div>
Shit, I'm paying $36.99 for powder cause there's one shop on this island that carries it and you can't ship it here. The gun shop owner is a dick for lying to you, and I'd call him out on it. We all know that they gotta make enough to pay utilities, rent/mortgage, wages and insurance. Being upfront about their resale pricing will keep you trading in and buying with confidence. Even if you did reach a good agreement, it would make you feel cheated seeing your old rifle priced like that. It is a $1200 rifle TOPS!
 
#28
Re: Question for Gunshop Owners

Maybe what he meant to say is that he's gonna put a tag on it... but really only be lucky to sell it for $1200 (yeah I know... far stretch!)

But atleast in my neck of the woods... It's impossible to differenciate between a used car salesman, a pawn broker, and a gun broker!!!
 
#29
Re: Question for Gunshop Owners

Not to hijack the thread, quick story. I sold a ruger vaquero 45lc, that hadnt been shot much, all paper etc a couple years ago to fund another pistol. I took it into one of the local shops they guy offered me $150 for it and the carbide dies. I laughed at him all the way out the store.
 
#30
Re: Question for Gunshop Owners

I'd say that most businesses that deal in used anything pay about half of what they expect to price that item at. That's a 100% mark up, or 50% mark up depending on who's doing the math and their method. IMO, cost X2 is a fair mark up for a retail store to charge and probably what they need to be pricing at to stay in business profitably. The deal you made is like trading in a used corvette for an f150 in that you are trading a used item for something worth more than the new item you're buying. That complicates things a little and the gun dealer sounds like an old car salesman. Whenever you do a trade-in/buy new type deal it's probably going to be best to keep the deals as 2 separate deals. Negotiate what your trade in is worth independent of the other gun. He pays you for your gun. Then negotiate the price on the new gun, you pay him. Working a deal with more than one transaction going on is almost always stacking the deck in the dealers favor. How many times has a new car been sold at cost only to have the buyer get raped on the trade in? Focus on 1 deal at a time. All that said, your dealer didn't do anything wrong marking the price as he did......Where he went wrong is he's a damn liar, told you the low price he was going to sell your gun for in an attempt to devalue it in your mind so he could get it cheaper. I hope is sits on his shelf until the day he goes out of business.
 
#32
Re: Question for Gunshop Owners

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: k20350</div><div class="ubbcode-body">Hell feel lucky here in MI they aren't giving anything for used rifles. Everybody in my area is out of work. I took a mint Ruger RSM .375 H&H w/ box papers and Leupold VX-III 1.5-5 I mean $2000 worth of rifle and got offered $550 for it. I told them to sent all of them they could find at that price my way. I mean I would have taken $1300 and been happy to buy a new toy from them but that was insulting. My friend took a remington 1187 thumbhole rifled slug gun w/ a Leupold on it in there and they offered him $300 for it. Hell he paid almost $700 from the same store a few months ago for the gun w/out the glass. </div></div>

Must be dealing with Guns Galore.
 
#34
Re: Question for Gunshop Owners

The market dictates the price not the seller.

It might be a typo or it might not be. Im more surprised that you think a retailer or whatever he is would be honest with you in the first place when it comes to making money!
 
#35
Re: Question for Gunshop Owners

Typically i've seen around 30%. They will offer consignment if you want more than they offer at 20%-25%fee. i have seen one shop sell a pistol for $1000 for a gun he only paid $450. He lied to the orignal owner that it wasn't a popular piece, and quality wasn't great, and it supposedly was prone to breakage. Then hyped it to be "rare" and an extremely capable firearm.
 
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