Whether you’re trying to purchase a gun at a discount or get the best price out of your gun on a trade-in, it’s important to have a sense of the factors that affect the value of the gun at the time. Keep in mind that any time you go in for a trade-in, the person you’re dealing with is going to try to purchase it at as low of a price as possible so they can resell your gun with a high profit margin.
You do have the power to barter a bit rather than just taking what you’re offered without negotiating. In fact, there are some things you can do to increase the potential to get the best price possible for the gun you wish to trade in.
Here’s some information from our gun shop in Olathe, KS to help you in this process.
Trade-in sales are different from private sales
One of the things that differentiates trade-in sales from private sales is that the person behind the counter isn’t going to put any money on sentimental value at all, and will not be swayed by you talking about how it was your first gun, or was a gun that belonged to someone special in your family. If you’re able to document the gun being owned by someone famous, then you’re going to want to sell it privately. But if you’re going to trade in through an auction house or other type of buyer, then you’re going to quickly find out that the buyer doesn’t care about those types of factors.
In general, you’re going to get more money from a private sale than from trading it in, but it also takes a lot more effort to get it sold privately and is, therefore, much more convenient to just go ahead and take the lower price on the trade-in. You’re essentially paying a fee for the other person to take care of the eventual sale for you.
The person behind the counter is going to expect you to give them a dollar figure you’re looking for. You should come in with a figure in mind—a reasonable price, not the brand-new price. If you seem at all uncertain about the price, the salesperson is going to know they’ll be able to take advantage of you with a bad offer. Here are some quick tips to keep in mind:
- Condition: Be honest about the condition of the gun. If there are a few scratches, no finish or some corrosion, you should know that every bit of damage is going to take some money off your price. “Mint” condition is only for guns that have never been taken out of the box and don’t have even a fingerprint on them.
- Going rate: Visit websites like GunBroker.com or Armslist.com and figure out the going rate for your gun. This is essentially the same as using Kelley Blue Book for cars.
- Have a negotiation limit: Know how low you’re willing to go, and start somewhere above there. You might very well not get the going rate for your gun, but you should still feel comfortable with the price.
For more information about trade-in values for guns, contact Harrison Street Pawn or visit our gun shop in Olathe, KS today.