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Market Value Literature

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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/09/2008 at 22:37
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Optics Apprentice
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I've been an observer of these forums for a long time, but I'm just now posing my first question as I am in need of a little direction. My use of the search feature did not yield any previous discussions on the topic.

A friend of mine recently lost her husband (unexpectedly) and his estate includes a pretty robust collection of firearms - many still NIB. Well, in order to probate the estate, the judge wants a value of the collection and she's asked for my help.

Anyone know the definitive book for valuation of firearms? I see fellows behind counters at gun stores or pawn shops looking at these types of books all the time when taking trade-ins. I've just never paid attention to the title/author.

Any help is greatly appreciated.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/09/2008 at 22:43
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OT TITAN

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blue book of guns
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/09/2008 at 23:10
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The "Gun Traders guide" will be helpful with some of the older stuff. These books will be helpful in getting ball park values. If you are interested in helping her get top dollar for every piece you will need to decide to be patient and involved with every piece. You will have numerous options for selling them but if it were me I would have to use Gunbroker.com. Because you get a very reasonable and reliable means of getting them infront of the world, and (the buyer comes to you) and covers most of the expenses. Use your list of values as a "buy it now" option and set a reserve on every piece. This is something she can be involved in if she chooses, but not necessary if she just wants it done. I admire your position and the trust and responsibility she has placed in you.
Good Luck! and Welcome to the OT.  Thunbs%20Up
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/10/2008 at 08:54
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Gun Trader's Guide is good but generally, YEARS behind Actual Collector Value. Of course, " collector value" depends upon where you are and WHO you are talking to..........it is an "acquired taste". 
 
Blue Book, again, is a benchmark for starting....you need to talk to a gun nut.
 
Appropriate gun values don't exist.  It depends upon what millionaire collector you are talking to who has been yearning for what you have to offer.
 
Rule of thumb to get what the gun is "worth".....DON'T BE IN A HURRY.    
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/10/2008 at 09:03
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Optics Apprentice
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Right now, we're only working on getting a valuation for the judge.  She has yet to determine whether or not she'll sell the guns, but that's great advice if she decides to do so.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/10/2008 at 09:25
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Regional market vary greatly, that's why I hate using the blue book.  I would try gunbroker.com or other auction site. Look for two or more sales in the last 6 months.
 
I should make a couple other points.  Regional makerts vary, (I know I've said that). Gun also go in cycles, what was red hot twenty years go, may be out of favor today.  This is an estate.  They are not looking for the highest numbers. The numbers should be realistic.  In this case a little low is better than a little high.  I say that for a couple of reasons.  If you are a friend of the family, and things go higher at auction, great.  If they go lower then you look like a jerk.  If this is in probate then, they have the assets to pay for an independant apprasial that's why it is is in probate normally (I know that does not mean they have the cash flow).  Yet if you are a friend, it is better to Monday morning quarterback the appraiser.    Let them put a value on it for the judge.
 
If you give us a near by city we may be able to help you find some people who may help.  A large auction house like Christy's has regional offices and they may be able to help direct you.
 
 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/10/2008 at 17:40
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Interesting topic and advise, I'll wait and listen in silence.Get%20Your%20Popcorn%20Ready
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/11/2008 at 07:58
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Originally posted by silver silver wrote:

Regional market vary greatly, that's why I hate using the blue book.  I would try gunbroker.com or other auction site. Look for two or more sales in the last 6 months.
 
I should make a couple other points.  Regional makerts vary, (I know I've said that). Gun also go in cycles, what was red hot twenty years go, may be out of favor today.  This is an estate.  They are not looking for the highest numbers. The numbers should be realistic.  In this case a little low is better than a little high.  I say that for a couple of reasons.  If you are a friend of the family, and things go higher at auction, great.  If they go lower then you look like a jerk.  If this is in probate then, they have the assets to pay for an independant apprasial that's why it is is in probate normally (I know that does not mean they have the cash flow).  Yet if you are a friend, it is better to Monday morning quarterback the appraiser.    Let them put a value on it for the judge.
 
If you give us a near by city we may be able to help you find some people who may help.  A large auction house like Christy's has regional offices and they may be able to help direct you.
 
 
 
+1
 
Just to add another thought, for value purposes go with low end values for a over all $ figure to keep them from being ripped by Uncle Sam. And like Silver said, if they do decide to sell you've covered yourself if things go low and if they go high all the better. The risk of projecting higher numbers is no matter how much you caution them that they may not actually get this amount, it never fails that they will bank on the number you gave. Its similar to getting estimates for a car repair. In this case if you can devote the time try to search out three value sources and use the one that benefits your friend for the occasion. Once you've accomplished the first list the others "should" be alot easier and faster. You've definitely got your work cut out for you. But your own the right track asking before acting.
But always try to confirm information by two or more sources before you move. Your operating in one arena where there are herds of wolves in sheeps clothing. If it don't feel right odds are it isn't. Good luck!
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/11/2008 at 08:36
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Blue Book of Gun Values is a great place to start.  www.bluebookofgunvalues.com.  If you go to that site you can buy an on line subscription for varying periods of time.  Relatively inexpensive and reasonably up to date.  I have found it very useful before buying used firearms and it has more than once prevented me from making a purchase on a brand that I was not very familiar with and some brand that I thought I was familiar with and the price was higher than it should have been.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/11/2008 at 08:39
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Optics Master
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Actually, they offer a 1 year on line subscription in 2 formats.  One strictly for firearms and the other includes black powder weapons and air guns for and extra 5 bucks.  The former is 34.95.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/11/2008 at 18:05
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Optics Apprentice
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FYI - Barnes & Noble actually had the Blue Book for about $30.00 shipped with their membership deal.
 
I'm sure the online subscription would be helpful if I'm somewhere where I wouldn't have the book, but I'm sort of a book nut.  There are plusses and minues to both the print and web versions.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/12/2008 at 07:02
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Optics Master
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Not bad.  I have purchased most of my rifles on line and so it has been very convenient for me personally to have an on line subscription.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/12/2008 at 09:25
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I am not knocking any online service... It is a whole differant level of thing thang though, to say "YOUR HONOR" this is what this is worth, in a court of law.  Again why you should pay somebody else, even more so if you are a friend.
 
These sales should also be from sales within six months of the date of death, but not one day past.  Then you have the whole grade issue thang...  It's just like doing real estate. 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/12/2008 at 11:05
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Originally posted by silver silver wrote:

I am not knocking any online service... It is a whole differant level of thing thang though, to say "YOUR HONOR" this is what this is worth, in a court of law.  Again why you should pay somebody else, even more so if you are a friend.
 
These sales should also be from sales within six months of the date of death, but not one day past.  Then you have the whole grade issue thang...  It's just like doing real estate. 
 
Glad you thru that in Silver. I haven't delt that close with estate closures and such and there are so many rediculous fees, charges and taxes that seem to punish heirs at some of the worst times in their lives. I'm hopeing that they have reliable counsel in this matter. As mentioned before, there are countless numbers of wolves who swarm these things. Maybe they won't opt to sell and instead appreciate why he valued his collection for their future generations.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/12/2008 at 11:23
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Optics Master
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Originally posted by Sgt. D Sgt. D wrote:

Originally posted by silver silver wrote:

I am not knocking any online service... It is a whole differant level of thing thang though, to say "YOUR HONOR" this is what this is worth, in a court of law.  Again why you should pay somebody else, even more so if you are a friend.
 
These sales should also be from sales within six months of the date of death, but not one day past.  Then you have the whole grade issue thang...  It's just like doing real estate. 
 
Glad you thru that in Silver. I haven't delt that close with estate closures and such and there are so many rediculous fees, charges and taxes that seem to punish heirs at some of the worst times in their lives. I'm hopeing that they have reliable counsel in this matter. As mentioned before, there are countless numbers of wolves who swarm these things. Maybe they won't opt to sell and instead appreciate why he valued his collection for their future generations.
Sgt. D, that is an excellent point.  Hopefully, there maybe other close heirs that could inherit those treasures and use them, not sell them for their greedy benefit.
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