One of the most common questions we get at our gun shop in Olathe, KS is, “How much is this gun worth?” In addition to selling guns, we are also avid collectors, so we usually have a pretty good idea of exactly how much an item is worth whenever a customer brings it in.
There are five general factors that go into determining gun value. They are as follows:
- Collectability: How collectable a gun is depends on how rare it is combined with how many people are actually seeking it out. Just because you have an extremely rare gun does not mean that it is valuable. You could have built your own gun in your garage tomorrow and it would be the only one of its kind, but chances are, gun collectors aren’t going to have any interest in purchasing it to add to their collections. Instead, there are certain factors that go into determining whether collectors will seek it out, including whether it’s been used in the military, its history and origins, whether it is vintage or part of a special run, if it’s a first edition, if it has a high-quality reputation, if it has any sorts of technical innovations, its influence on future guns and more.
- Original elements: This factor is typically referred to as “completeness,” and focuses on how much of the original stuff that came with the gun is still with it. This goes beyond the hardware, and includes original boxes, owner’s manuals, factory magazines, sights, test-fired ammo casings, test targets and grips. The more of these original items that are found with a gun, the more valuable it is likely to be. These bits don’t necessarily have to all be put together, just so long as they are included with the gun. So if you added aftermarket grips or sights, a gun could still be considered complete so long as you still have the originals and they could be reinstalled without damage.
- Condition: One of the biggest factors that goes into a gun’s value is its condition. There are several methods that rate condition. Obviously, the better condition your gun is in, the more it’s going to be worth. You should know how to properly determine the condition of a gun, as many times sellers are tempted to say a firearm is in “excellent” condition when really it’s just in “good” condition.
- Market: Ultimately, as with any collectable item, you have to have an understanding of what the gun would fetch on the market to know what a fair purchase or sale price might be. Research comparable weapons online, and find what other similar models in similar conditions go for.
Looking for more information about how much your gun might be worth? Stop by our gun shop in Olathe, KS and we will be happy to take a look for you. While you’re here at Harrison Street Pawn, be sure to check out our collection of firearms—you may be able to add to your collection!