darvish Posted August 13, 2020 Report Share Posted August 13, 2020 I am new to this. I have been tasked with selling some machine guns owned by a person who recently died. They are all transferable. What is the fair and customary percentage is charged for this service? Before anyone asks. I'd rather not say what they are right now until I get this sorted out. Quote Link to comment Share on other sites More sharing options...
Side Arm Sams Posted August 13, 2020 Report Share Posted August 13, 2020 Minimum 10% plus expenses (listing cost, shipping cost, transfer tax, ect). It also has a lot to do with your business platform. Kitchen table FFL or brick n mortar establishment. Many times the owner/beneficiary wants out now and you buy up the collection for a fair number. You absorb the expenses and sell at your leisure without any pressure from them. I prefer the latter. YMMV. Jim Quote Link to comment Share on other sites More sharing options...
darvish Posted August 13, 2020 Author Report Share Posted August 13, 2020 I like that option. It’s a kitchen table FFL. I estimate the 5 Guns have a retail value of between 104K and 125K. I guess I could just buy the lot minus say 15%. A couple of mp5 sear Guns, Colt M16A1 and NIB M11s. yeah. I changed my mind about listing them. Lol Quote Link to comment Share on other sites More sharing options...
b_san Posted August 13, 2020 Report Share Posted August 13, 2020 19 minutes ago, darvish said: I like that option. It’s a kitchen table FFL. I estimate the 5 Guns have a retail value of between 104K and 125K. I guess I could just buy the lot minus say 15%. A couple of mp5 sear Guns, Colt M16A1 and NIB M11s. yeah. I changed my mind about listing them. Lol If I'm buying the lot from the estate I'd expect to pay a lot less than 85% of retail. Quote Link to comment Share on other sites More sharing options...
darvish Posted August 13, 2020 Author Report Share Posted August 13, 2020 1 hour ago, b_san said: If I'm buying the lot from the estate I'd expect to pay a lot less than 85% of retail. Nah. I don’t mind the son getting maximum money for them. I’ll take my cut little by little Quote Link to comment Share on other sites More sharing options...
b_san Posted August 14, 2020 Report Share Posted August 14, 2020 8 hours ago, darvish said: Nah. I don’t mind the son getting maximum money for them. I’ll take my cut little by little That's noble and all but what I'm saying is 15% is a fairly standard commission fee for consignment sales not for buying outright. When you're putting out the cash up front, especially to buy the whole lot of guns, you need to factor in a lot more uncertainty of value along with the return on your time and money invested. Feel free to ask Frank, Ruben or Jonathan what percentage of market value they pay to buy out estates or even individual guns for that matter. Quote Link to comment Share on other sites More sharing options...
JOELCRAMER Posted September 3, 2020 Report Share Posted September 3, 2020 (edited) On 8/14/2020 at 0:20 AM, b_san said: That's noble and all but what I'm saying is 15% is a fairly standard commission fee for consignment sales not for buying outright. When you're putting out the cash up front, especially to buy the whole lot of guns, you need to factor in a lot more uncertainty of value along with the return on your time and money invested. Feel free to ask Frank, Ruben or Jonathan what percentage of market value they pay to buy out estates or even individual guns for that matter. I agree. You have 100K sitting out there for 3 month to a year depending on how NFA is running. In addition you will be paying all the NFA Taxes on thos guns. That is a lot money out there just losing money. You could spend that on a lot of title one guns and blow them all out and almost double you money in 1/2 of that time. Edited September 3, 2020 by JOELCRAMER Quote Link to comment Share on other sites More sharing options...
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