How Much Do Gun Stores Pay For Used Guns?
Selling a used gun can be a great way to get some extra cash, especially if you have an old firearm that you no longer use.
However, before heading to your local gun store to trade in your used gun, you’ll probably want to get a good idea of how much you can expect to receive.
If you’re short on time, here’s a quick answer to your question: Most gun stores pay around 50-70% of a used gun’s retail value. The exact amount depends on factors like the gun’s make, model, condition and demand.
In this comprehensive guide, we’ll break down exactly how gun stores determine the value of used firearms and how much money you can expect to get for selling your own used guns.
How Gun Stores Evaluate Used Guns
When it comes to buying used guns, gun stores take several factors into consideration to determine how much they are willing to pay. These factors include the condition and wear of the gun, the manufacturer and model, and the supply and demand in the market.
Condition and Wear
The condition and wear of a used gun play a crucial role in determining its value. Gun stores carefully examine the firearm for any signs of damage, rust, or mechanical issues.
A gun in excellent condition with minimal wear will generally fetch a higher price than one that shows significant signs of use. Factors such as the cleanliness of the barrel, the functionality of the trigger, and the overall appearance of the gun are all taken into account.
Manufacturer and Model
The manufacturer and model of a used gun also greatly influence its value. Guns from reputable manufacturers with a strong reputation for quality and reliability tend to retain their value better than lesser-known brands.
Similarly, popular models that are in high demand among gun enthusiasts will command a higher price.
For example, a used Glock pistol, known for its reliability and widespread popularity, may be worth more compared to a less popular or less well-known brand. Gun stores often refer to industry resources and market trends to determine the current value of specific manufacturers and models.
Supply and Demand
Supply and demand dynamics play a significant role in determining the price a gun store is willing to pay for a used firearm. If a particular model is in high demand and there is limited supply, the store may offer a higher price to secure the gun for resale.
On the other hand, if there is an excess supply of a certain model, the price offered may be lower. Gun stores keep a close eye on market trends and industry news to stay informed about the demand for various types of firearms.
They may also consider regional variations in demand, as some models may be more popular in certain areas than others.
It’s worth noting that the evaluation process for used guns can vary from store to store. Some stores may have their own proprietary methods, while others may rely on industry standards or guidelines.
If you’re looking to sell a used gun, it’s always a good idea to visit multiple gun stores and get multiple offers to ensure you’re getting a fair price.
Average Payouts for Common Used Guns
Handguns
When it comes to selling used handguns at a gun store, the average payout can vary depending on factors such as the make, model, condition, and popularity of the firearm.
However, on average, gun stores tend to offer around 50% to 70% of the original retail price for a used handgun in good condition. It’s important to note that this is just an estimate and actual payouts may differ.
For popular handgun brands like Glock, Smith & Wesson, or Sig Sauer, the payout may be higher due to their strong demand in the market. On the other hand, less popular or discontinued handgun models may fetch a slightly lower payout.
If you’re looking to sell a used handgun, it’s recommended to visit multiple gun stores or use online platforms to get a sense of the average market value and payout for your specific firearm. This will help you negotiate a fair deal and ensure you’re getting the best possible price.
Rifles
When it comes to used rifles, the average payout at gun stores can also vary depending on various factors. Similar to handguns, the make, model, condition, and demand for the rifle play a significant role in determining the payout.
Popular rifle brands like Remington, Ruger, or Savage Arms may command higher payouts due to their reputation and popularity among gun enthusiasts. Additionally, rifles with desirable features such as adjustable stocks, optics, or other accessories may also increase the overall payout.
On average, gun stores may offer around 40% to 60% of the original retail price for a used rifle in good condition. However, it’s important to keep in mind that these numbers are not set in stone and can vary depending on the specific firearm and market conditions.
Shotguns
Shotguns, like handguns and rifles, have their own set of factors that influence the average payout at gun stores. Factors such as brand, model, condition, and gauge can all impact the final payout.
Popular shotgun brands like Mossberg, Benelli, or Beretta may attract higher payouts due to their reputation and demand in the market. Similarly, shotguns with desirable features such as a shorter barrel length or a specific choke type may also fetch a higher price.
On average, gun stores may offer around 30% to 50% of the original retail price for a used shotgun in good condition. However, as with any firearm, it’s important to do your research and compare offers from multiple sources to ensure you’re getting a fair payout for your used shotgun.
How to Get the Most Money for Your Used Gun
If you’re looking to sell your used gun, there are several steps you can take to ensure that you get the most money possible for it. By following these tips, you can maximize your profit and make the selling process smoother.
Clean and Service the Gun
Before selling your used gun, it’s essential to clean and service it. A well-maintained firearm will attract more potential buyers and command a higher price.
Take the time to thoroughly clean the gun and make any necessary repairs. This will not only make your gun more appealing but also show potential buyers that you have taken good care of it.
Provide All Accessories and Paperwork
When selling a used gun, it’s crucial to provide all the accessories and paperwork that came with it. This includes items such as the original box, manual, extra magazines, and any other accessories that were included at the time of purchase.
By offering these extras, you increase the perceived value of your gun and make it more enticing to potential buyers.
Be Flexible on Price
In order to get the most money for your used gun, it’s important to be willing to negotiate on price. Research the market value of your gun and set a reasonable asking price, but be open to offers from potential buyers.
By being flexible and willing to negotiate, you increase the likelihood of making a sale and getting a fair price for your firearm.
Sell in a Buyer’s Market
Timing is everything when it comes to selling your used gun. Consider selling your firearm during a buyer’s market when demand is high.
This will increase the number of potential buyers and create a more competitive environment, driving up the price you can command for your gun. Keep an eye on market trends and adjust your selling strategy accordingly.
Trade for In-Store Credit
If you’re not in a hurry to sell your used gun, consider trading it in for in-store credit at a gun store or firearm dealer.
Many stores offer trade-in programs where you can exchange your firearm for credit towards a new purchase. This can be a great way to get the most value for your used gun while also upgrading to a new firearm.
By following these tips, you can increase your chances of getting the most money for your used gun.
Remember to clean and service the gun, provide all accessories and paperwork, be flexible on price, sell in a buyer’s market, and consider trading for in-store credit. With the right approach, you can maximize your profit and have a successful selling experience.
Other Options for Selling Your Used Gun
When it comes to selling a used gun, there are several options available that can help you get the best price for your firearm. While selling to a gun store is one option, there are other avenues you can explore to potentially earn more money.
Here are three other options to consider:
Sell to an Online Firearms Dealer
One popular option for selling used guns is to work with an online firearms dealer. These dealers specialize in buying and selling firearms, and they often offer competitive prices.
By selling your gun to an online dealer, you can take advantage of their extensive network of buyers, which can increase your chances of getting a fair price for your firearm.
When working with an online firearms dealer, you’ll typically need to provide detailed information about your gun, including its make, model, condition, and any accessories that come with it.
The dealer will then make you an offer based on the current market value of the gun. If you accept the offer, you can ship your firearm to the dealer, who will handle the necessary paperwork and transfer of ownership.
Consign at an Auction House
Another option for selling your used gun is to consign it at an auction house. Auction houses often have a wide range of buyers, including collectors and firearm enthusiasts, who may be willing to pay a premium for unique or rare firearms.
By consigning your gun at an auction house, you can tap into this market and potentially earn a higher price for your firearm.
When consigning a gun at an auction house, you’ll need to provide them with all the necessary information about your firearm, including its history, condition, and any unique features.
The auction house will then list your gun in their catalog and handle the bidding process on your behalf. If your gun sells, the auction house will take a percentage of the final sale price as a commission.
Sell to Other Gun Owners
If you prefer a more direct approach, you can try selling your used gun to other gun owners. There are various ways to connect with potential buyers, including online forums, social media groups, and local gun clubs.
By selling directly to other gun owners, you may be able to negotiate a better price and avoid any additional fees or commissions.
When selling to other gun owners, it’s important to follow all local and federal laws regarding firearm sales. This includes conducting background checks and completing the necessary paperwork to transfer ownership.
It’s also a good idea to meet potential buyers in a safe and public location to ensure a smooth and secure transaction.
Remember, each option has its pros and cons, so it’s important to weigh them carefully and choose the one that best suits your needs. Whether you decide to sell to an online firearms dealer, consign at an auction house, or sell to other gun owners, be sure to do your research and consider all factors before making a final decision.
Conclusion
Selling a used firearm to a local gun shop can be a convenient way to turn an unused gun into quick cash.
While you won’t get full retail value, most stores pay around 50-60% depending on the make, model, condition and market demand.
With some preparation and research, you can maximize your payout when the time comes to sell your used guns.
