At What Price Point For A Used Gun Do You Say No Thanks?

[Jusme]

The value of anything, has nothing to do with what the seller hopes to get, but what a buyer is willing to pay. Those who sell used products, guns, or other items, is at the mercy of "what the market will bear"
Those who overpay, for things, haven't done their homework, so they deserve what they get, in my opinion. I don't blame a seller for trying to get top dollar for what they offer for sale, but I can simply ignore it if I think it is too much.
I shop pawn shops on a regular basis, and before I make an offer on anything, I know what it costs new, and what I am willing to pay. Pawn dealers usually pay about 25% of the actual value of what they buy, so I can usually estimate how much they have invested, and can make an offer accordingly. If they won't come down to what I consider a fair price, I am no worse off for walking away.
JMHO

[joe817]

The value of anything, has nothing to do with what the seller hopes to get, but what a buyer is willing to pay. Those who sell used products, guns, or other items, is at the mercy of "what the market will bear"
Those who overpay, for things, haven't done their homework, so they deserve what they get, in my opinion. I don't blame a seller for trying to get top dollar for what they offer for sale, but I can simply ignore it if I think it is too much.
I shop pawn shops on a regular basis, and before I make an offer on anything, I know what it costs new, and what I am willing to pay. Pawn dealers usually pay about 25% of the actual value of what they buy, so I can usually estimate how much they have invested, and can make an offer accordingly. If they won't come down to what I consider a fair price, I am no worse off for walking away.
JMHO

totally. There is a generally accepted term in the real estate business(and others as well), and that is the theory of Fair Market Value, which is defined as: The highest price a buyer is willing to pay, and the lowest price a seller is willing to sell. As in all used stuff, and guns in particular, the price is negotiable. I love to negotiate, horse trade, bicker, barter, or what ever term you choose. If I see a used gun I have the hots for, I'll always offer a low ball offer to buy, fully expecting the seller to make a higher counter offer, lower than his original offering price. If he comes down some, I'll counter his counter offer, and so on, and so on until we come to a mutually acceptable price for the gun. If his final offer is more than I want to pay.....I won't. I'll walk away, and come back 15 minutes before the gun show closes, and start the negotiating process over again. If he doesn't come down to my price, I'll not buy it. I've found that the best deals comes at the closing of the show. And I am unanimous in my decision.

[The Annoyed Man]

For me the used price needs to be less than retail. I found one company that provides a 90 warranty and I tend to shop them often. If it's a gun that I may only shot twice a year; then I am looking at it in the way of can it be repaired, are the parts easy to get and what are the cost of the parts? I drive down cost for a living, so keeping track of ammo prices and gun prices is just like shooting too me. Everyone spends their money how they choose to spend it, there's is no right way or wrong way. Just buy more guns....

Bingo. Whether or not a buyer is getting taken advantage of is entirely subjective. What I perceive as valuable may not have equal value to someone else. When Abraham says that it just irks him to pay for used, I understand, I get it. But that has no bearing on what I am willing to pay for something that I want. So if I spend money in a way that Abraham would not have spent it, I wasn't doing a "pee-pee dance" to have it. I simply saw value where he did not. It could work the other way around too......except that I would be tactful enough to not call his eagerness a pee-pee dance.

It doesn't bother me that someone wouldn't spend their money the way I spend mine, but I guess it does bother me when the other person is rudely dismissive and denigrates my choices. I was talking about this with my wife just this morning. Hey, if you don't like my choice, it's OK to say something. Just be tactful about it, because the other person may have (in fact, in most cases, probably DOES have) perfectly valid reasons for making the purchasing decision they made......valid for THEM. I've had people tell me that they don't trust the grip safety on XD/XDM/XDS pistols to not cause reliability problems. Hey, I disagree, but that's OK. If someone doesn't like something, don't buy it. I remember a few years ago I was at the dog park with my wife and dog, and I got to talking to a young man about concealed carry. Turns out he was an off duty cop. When he asked me what I carry, I told him that I had more than one gun in my carry rotation, but that on this day, I was carrying an M&P45. His response was "oh those are crap!" .....and he was serious. Then he went on to tell me that anyone who isn't carrying a Glock is just and idiot because yada yada yada." Talk about a lack of tact. Well, these days I DO happen to carry Glocks, but that doesn't mean that my M&P45 is crap. He went on to say basically the same thing about 1911s, and Sigs, and H&Ks etc., etc. "If you're not carrying a Glock, you're an idiot". I beg to differ.

Well, that young man is not only an intolerant idiot, I'm glad that I don't have to deal with him when he's on duty.

[oljames3]

For an ordinary item, 50% to 66% of MSRP might make it interesting. I just ordered a new S&W M&P M2 9mm in Flat Dark Earth for $474 total from an online dealer. That is $125 less than MSRP. So if I can get a new pistol for 75% of MSRP, I have no need to pay that much for a used pistol. As with a vehicle, I would expect to pay less to a private seller than to a dealer for the same item. Most of the sellers I have seen on this forum are way too proud of their stuff for my tastes.

[tbrown]

Then there are people who have $$$ "invested" in their DIY "custom gun" slapped together in their garage.

Chucklehead can keep his custom gun. I won't end up like that lady with the used gun that went off in the holster.

[Medley86]

14 years ago, I purchased a new Taurus .38 All-titanium 850CIA hammerless with ported barrel for $369.95, and sold it to a DEALER for $325 last year; he sold it in two days. So, if it's no longer available new, it's worth more.

Speaking of no longer available, I still have a pristine 12 ga. Winchester Model 12 with vent rib, Trap Stock and forearm I'd like to sell to a discerning shooter. This gun hasn't been fired in at least 20 years and deserves a good home.

I'd love to get my hands on a model 12, my dad had one his dad bought him new as a kid/ teenager, great shooting shotgun.

[karder]

Generally speaking, I would not want to pay more than 75% of new for a used gun. If $100 bucks more will get me the same thing new, I will normally pony up the extra cash. Of course, if I were considering a high end 1911 or well built rifle, 75% of new could be a big savings.

[clarionite]

Anything is worth what the buyer is willing to give...

I had a boss (Dan) many years ago that drank quite a bit. He was very close to retirement age and was some what of a mentor. He told a story that stuck with me about a yard sale he had a few years after his divorce. He had a ton of Christmas decanters from Jim Beam. One of his college buddies had gone to work in Sales for Jim Beam and every Christmas Dan would get a decanter. He put a bunch of them up for sale in the garage sale for prices in the $3-$5 range. A few months later he saw a guy in line at the grocery store, and he struck up a conversation. He begins by telling Dan he bought a decanter from him. Dan, being the gruff guy he was said that's highly likely. The guy then begins to gloat asking him if he knew what the decanter was worth. Dan asked him what he paid for it... The guy tells him $3. Dan says then that's what it was worth to him. The guy tells him he found it online and it's worth $500. Dan said, I found someone willing to pay $3 for it, so it was worth $3 to me. If you find someone willing to pay $500 for it, then it's worth $500. Until then it's worth $3. The guy then says, And it still had the whiskey in it. Dan said, Now you're just making me mad.

[Soccerdad1995]

The correct answer to this question is the same as the correct answer to 92.7% of all questions in the world, "it depends".

For me, it depends on what I am buying, and how badly I want it. If it is something that is hard to find, I might pay more than retail. Right at this moment, I would pay more than new retail for a Kel-Tec Sub 2000 that takes Glock 19 mags if anyone has one lying around. Same thing for a Mossberg Shockwave. I define "retail" as the pricing that I could find at a place like Buds, not Academy, or Cabelas, etc. So for the 2 guns I referenced above, "retail" would be $430 and $390, respectively. I should note that my range membership includes free FFL transfers, so Bud's pricing is pretty much the same as "out the door" pricing for me.

In general, though, I am usually willing to pay 80% - 90% of the new retail price for a lightly used gun in good condition. As noted ITT, someone has gone through the expense of breaking it in for you. If they have done modifications, or are including holsters, ammo, or other accessories, I will also factor that into the price, but ONLY if I actually want the modifications / accessories.

There is also an intangible benefit of getting the opportunity to meet and talk with fellow gun enthusiasts. I have bought and sold many (mostly used) guns over the years, and have found that almost everyone I have dealt with has been a genuinely nice and friendly person.

[KD5NRH]

Generally, the point where I can no longer afford it.

Being poor, that tends to happen well before the price gets unreasonable.

I am looking for a good $3 1911, though, if anyone's selling.

[LSUTiger]

Teamless,

OK, I hear 20% as your rule of thumb, but (back when I was in management in corporate America) 50% was our rule of thumb percentage.

True, I'm not speaking of guns, but I won't pay even the percentage or figures you've quoted for a used gun. BTW, I'm not being critical of your approach, just stating how I do it for me...

The seller is in effect asking me to take a risk on his used gun. If the risk is worth it by being a much lower cost vs. new, I might just gamble, but if the seller asks for a price within 40/50% of new, I'll just buy new.

Why folks are willing to shell out close to new costs for used remains a puzzle to me. Yeah, if the gun is some sort of collectible or has some sentimental value, I guess I can see paying more than I think it's worth in dollars, but not being sentimental or a collector, it better be a darn good deal for me or see ya later alligator...

Collectables and rarities aside, I am not paying new gun prices for a used gun that is in current production. Unless I know the seller personally or can vouch for their kitchen table gunsmithing skills, the most I will pay is 50%, and from strangers it's always a gamble, especially if it has gone thru multiple owners already. I find that when I inspect most guns I find signs of wear and abuse or modification that is not in line with "I only shot it a couple of times" story and the 100% new asking price that usually comes along with it. Some modifications I don't want and I am just not willing to pay for so I stay away from modified guns.

Do you homework before buying and inspect thoroughly before closing the deal and if you just are not sure walk away.

The first time I helped someone buy something used it was at a gun show, I gave them my opinion of an AR15 after looking at it briefly. It was used but looked to be in good shape. The BCG had a different logo than the gun manufacturer but was from a quality source, clue no. 1 that modifications were likely made. I did a quick internet research on my iphone and got a ballpark price and tallied up the total with the few options like optic and buis that were on the rifle. They were desireable to me and the buyer thought so as well. With out firing the gun or being able to break it down fully in the middle of the show, I recommended he buy it and they haggled on price. When my friend walked away they accepted his offer and the deal was done. About two weeks later my friend calls me up and tells me he had to spent a $100 to have a gunsmith fix a broken trigger spring or something like that. $35 for a kit and 1 hour min labor for the the rest. i probably had the spare parts he needed and could have done the repair for free is he would have called me first but even with all the inspection, it was a small part that was overlooked that either was installed incorrectly or somehow damaged to begin with and cost him money. Buyer beware.

[Oldgringo]

TAM sums it up pretty well. as is his gift/talent. Do you want it or not? If you want it, you'll find a way. If not, you'll find, and/or be given, an excuse.

Case in point, many years ago Mrs. Oldgringo and I attended a small Gun Show in Claude, TX. I came across a like new Marlin 39 Mountie for something like $150-175. Mrs. Oldgringo opined I didn't need anymore guns and we left. I went back the next day, it was gone.

Do you want it or not? Carpe Diem! It is later than you think.