on the range

hu C k papp

South Florida Shooting Supply/Gun Shop, Boca

One of the most frequently asked questions I get is, “how much is my gun worth, and how much can I get for it?” That is a two-part answer. A lot of folks look at firearms as investments, however, on a financial level they are one of the worst investments you can make. Now let’s be clear, like cars, boats, cigars, and a host of other items there is a small circle of firearms that do hold their value or will increase in value with time, but those are not the majority of the ones people will buy for their protection or sporting use.

Another major factor is the political environment along with the current demand, supply and demand. One of the lessons in business, if demand is high and supply is low then of course you will pay over the normal amount, however, if demand is low but there are plenty out there then you will pay far less at that time. Take a Glock 17 for example, one of the most popular pistols out there. During the pandemic when demand was the greatest it has ever been that pistol was going for $800 to $900, now you can get them for $599 all day......that’s a $200 to $300 difference!

Now you have the actual value of the item. Everything has a wholesale and retail price. Guns are no different. Let’s say you no longer want that Glock 17 you bought for $750. The retail value for that previously owned gun is now about $400 to $450. When you take it to a local dealer to sell, you will be offered around $300. The dealer will then sell it for around $450. Don’t forget that businesses have to make money. Private sales are legal in some states (Florida is one of them), you can sell it on your own to retain some of the value and not take such a hit. You should check on the local state or county/city ordinances on selling privately first.

Firearms are not good financial investments. They are investments in your personal or family’s safety. They are used for recreational shooting and hunting. Police and militaries around the world use them for enforcing laws and protection of their citizens, but to think of them as money makers is not one of the better choices you can make to gain your financial portfolio.