How Much Is My Gun Worth? Learn How to Estimate The Value of a Gun
Figuring out the value of your gun can be a challenge sometimes. This is especially true if you have had the gun for a while.
The prices of guns are continually fluctuating, but some common factors go into the value of a used gun.
Read on to learn about what these factors are and also how to determine the value of your used gun. Also, we will include a few tips on how to get top dollar for your gun when it comes time to sell.
Factors that affect value.
There are a few main things that affect the value of a gun. We will go in-depth on each factor farther, but first, we will give you a simple list of some of the factors that affect a guns value. Those things are
- Rarity and Demand
- Where Selling
These are the key things that go into a guns value.
Condition of your gun
The most important thing when it comes to the value of a gun is the condition that it is in.
People want guns that are in as close to original condition as possible.
This doesn’t mean that the gun looks brand new. If you have an older gun or antique gun, then the buyer wants it to have a patina on it.
Do not clean the patina off. Cleaning the gun so it will work properly and cleaning the gun to change the condition that it appears in are two different things. Buyers want clean firearms that are in original condition and have the old metal if it is an older gun.
Another thing tied into condition is having all the original parts. This means that a buyer wants a gun to have matching serial numbers on the stock, grip, and any other components with numbers.
This is especially true for older and collectible firearms. The screws should also be original to the gun or at least from the same time period to look like the original. The metal should all match in color, and there shouldn’t be a bunch of cleaning scratches.
For modern guns condition is still important, but buyers aren’t looking at it with collectible eyes.
For a more modern gun, the buyer wants to make sure they are getting a gun that works.
For collectible firearms, a firing one is worth more, but firing is not a must for an antique rifle, where it is a must for a new gun.
New guns should not have cracks on the barrel, and the moving parts should not be rusty. Also, the barrel should be round and not dented.
Condition is king when it comes to the value of your gun. You could have a rare gun, but if the condition is suffering, then it will be worth less than one that is in top condition.
The next thing that affects the value of a gun is the brand.
The brand is important because you want the gun to come from a manufacturer that is recognized and well respected. This is true for both modern firearms and antiques.
For an antique gun, people want Winchesters and Remington because it gives the iconic feel of the Wild West.
For modern rifles, the same can be true. People want a brand that they know. This is because they can find information about it more efficiently and also see that they are getting a quality gun. if you are using moderrn rifles ar15? So you should have best ar 15 scope for the money important accessory which you should have.
If the gun is an off-brand, then it will be worth less than the equivalent gun of a known brand. Most buyers don’t want a gun that someone could have put together in their garage. They want to buy a firearm that has been precision put together, and that will function properly.
Rarity and Demand
The last thing and probably the second most important thing after condition when it comes to the value of a gun is the rarity and tied into that the demand.
If you have a rare gun, it will most likely be worth more. That is because a rare rifle will have less available on the market to meet the demand.
The key though is that the rare gun still has demanded.
If no one is looking for a particular gun, then it doesn’t matter if it is rare because there is no buyer.
If the demand is higher for a firearm than the supply available to buy, then it will drive the price up. If the demand is lower than the supply, then it will drop the price down. This is a fundamental economic theory.
The demand for guns, however, can fluctuate. Just like anything, there are trends in the gun market. Sometimes 9mm may be popular, where other times 22LR might be the hot gun. This means that when you go to sell your gun, if you find out the demand is low, then you might want to wait for the demand to come back. You can’t do this if you are needing money, or have your heart set on a new gun, but it is something to keep in mind.
Where Selling your weapon
The last factor that affects the value of a gun doesn’t have to do with the gun at all but instead has to do where you are selling it.
If you are selling or trading a gun in a shop, then it will be worth less than if you are taking it directly to the end customer.
When I say worthless, I mean to the end buyer. A shop is a middleman if you sell to them, and has to make money off your gun. This means that the value of the gun is the same, but you will get less than if you are selling it directly to someone that wants to keep the gun.
Most shops will give about 50% of the value of a firearm in trade and around 30%-40% if you are just outright selling it. That means if your gun is worth $1000 dollars, then in trade, you can expect approximately $500 from a shop while in cash you can expect $300-$400. There are some fluctuation and things though based on the shop, but that is a rough idea to determine how much you can expect.
On the other hand, if you are selling it to the end buyer, then you can expect to get closer to the full $1000. There is still some wiggle room though because the buyer wants to get a good deal as well.
There are a couple of ways to sell to the end user as well. You can sell in person from someone you met online, or you can sell online directly. Both have their perks, and neither is wrong.
You have to use whatever method gets you the best money and whichever one leads to a buyer. Selling online gets your gun in front of more people, but selling in person can make it easier with different gun laws.
How to determine value.
So now that you know the main things that affect the value of a gun, how do you determine the value of your gun? Well, there are a couple of ways.
You can use a book such as the Blue Book of gun values. Books are good at giving you a ballpark idea of what your gun is worth, but generally, they are never spot on. In most cases books run high, but not always. Since the value of firearms is continually changing, books become outdated as soon as they are printed or shortly after.
The other way to determine the value of your gun is to check online. You can look at different gun sellers and see what they are asking.
You can then average the asking prices to get a solid idea of what it is worth. Another way you can use online to determine your gun value is to look at ended auctions or sold guns.
This is the most reliable way to assess your gun value because you are seeing what actual buyers are paying for that gun. Online also gives you a good idea of the supply and demand because if you are finding a lot of sold prices, you know the demand is high where if you are having trouble of finding sold prices, then demand is low, or the gun is rare.
Now you should know how to find the value of your gun more accurately. You know that you can check gun value books or you can use online to come up with an average price. You also now know the factors that affect the value of your gun. You know condition is most important followed by rarity, demand, brand, and where you are selling it at. With these tips, you should be able to get top dollar for the next gun you sell or at least be an informed seller on what your rifle is worth.