Getting Ripped Off by Vendor

[gjlog]

I've seen or heard a couple of stories in the last week about vendors taking customers for a ride. In the first, I was at a gun range where a guy wanted to sell a few shotguns. I don't know much about these although my buddy, who was there, does. The range owner offered him $75 per gun which the guy, unhappily accepted. My buddy said that these would sell for at least $300 on the market.
That same pal witnessed this second episode. The other day a guy tries to sell his handgun, (hardly used, one year old), back to the store that sold it to him. I won't mention the store, although it has a firing range. He paid them over $500 for it a year ago and they offered him $160. He complained that the price wans't even half what he paid for it. The response was, "Yeh, we didn't say we would give you half for it when you bought it." The guy stormed out of the store. My buddy, a smart guy, followed him and made a deal on the spot for the handgun. The seller was pleased to sell it to him.
These are nothing more than rip-off's by said vendors. I know what some of you will say--"let the buyer (or seller) beware" or "people have to make a profit". But haven't we, as a nation, seen enough of this greed and manipulation? Is there no sense of fairness?
On a more self-interested note, any ideas how we might be able to tap into this source of relatively in-expensive guns, where we could give a fairer price and still come out with a good deal?
GJ

[Stradawhovious]

It's all part of the business (although it doesn't give said clerk the right to be a slow jerk) I think the magic number is 40%. At least it was in the music business. We would never buy merch for more than 40% of the market price. These places have to keep the lights on ya know.... The lesson here isn't that these places are evil, in fact they are just businesses. The lesson is that if you want to sell something, don't sell it to a retail outfit. They have to turn a profit.

[justaguy]

Everyone needs to take care of themselves. If people are to lazy to do what it takes to make a deal they shouldn't bitch. With the intraweb you can get a ball park price in two clicks and with two more post it for sale to mass amounts of people. If I'm looking to buy or sell something it is up to me to look out for my interests. Not someone else. That also carries over into the rest of your life.

[Pinnacle]

You said i yourself - "When offered $75 he accepted the offer"

Well - there was the first mistake. If you think that you can get $300 each elsewhere - then by all means use some common sense and DO IT. Dont think that you are being ripped off when someone makes a lowball offer - especially a retail establishment - just kindly say thanks for the time - but no thanks... And walk away and do your own marketing.

[Squib Joe]

Selling a gun to a gun store is the easiest, "safest", generally most convenient way to turn a firearm into cash. It is not going to bring you top dollar. That doesn't mean the seller is being "ripped off", it means the store has to invest in the gun (sometimes for many months or even years) and still be able to sell it at a reasonable price.

Most stores also offer consignment of firearms which will bring a much better return, and I normally suggest that to sellers that have the time to wait.

[elmerfuddem]

I've seen or heard a couple of stories in the last week about vendors taking customers for a ride. In the first, I was at a gun range where a guy wanted to sell a few shotguns. I don't know much about these although my buddy, who was there, does. The range owner offered him $75 per gun which the guy, unhappily accepted. My buddy said that these would sell for at least $300 on the market.
That same pal witnessed this second episode. The other day a guy tries to sell his handgun, (hardly used, one year old), back to the store that sold it to him. I won't mention the store, although it has a firing range. He paid them over $500 for it a year ago and they offered him $160. He complained that the price wans't even half what he paid for it. The response was, "Yeh, we didn't say we would give you half for it when you bought it." The guy stormed out of the store. My buddy, a smart guy, followed him and made a deal on the spot for the handgun. The seller was pleased to sell it to him.
These are nothing more than rip-off's by said vendors. I know what some of you will say--"let the buyer (or seller) beware" or "people have to make a profit". But haven't we, as a nation, seen enough of this greed and manipulation? Is there no sense of fairness?
On a more self-interested note, any ideas how we might be able to tap into this source of relatively in-expensive guns, where we could give a fairer price and still come out with a good deal?
GJ

I witnessed something similar at the same place, with a range. A woman brought in 3 guns, 2 beautiful shotguns, and a 1911. She was about 35, petite, and very well dressed. She said "my husband don't need these anymore". If I remember the store offered her $350 for the whole lot, including cases.

If I only had some cash at the time.

I still wonder, was this a woman scorned, or did her husband really not need his firearms?

I remember leaving my collection in the care of my ex. I never saw my collection again. Stupid me.

[JoeH]

GJ-

I think that you are a little confused about how an open market works. In your first example, the seller agreed to the sale. He wasn't forced to sell the items. He chose to sell the items for the price that he was offered. I don't see the problem.

In your second example, the open market worked. The guy didn't like the offer and walked. Then he received an offer that he liked and made a deal. I assume that your friend didn't offer the seller what he paid. Was your friend being unfair? Was your friend being greedy. No. Your friend was making a transaction to which both parties agreed. Fairness and greed need not apply.

[Grandpa Rex]

I would argue that there are always two sides to this type of story. Having been a retailer in a past life, I know that as a retail buyer, I have to be able to make a few bucks on an item I intend to resell. An item that is used, no matter how lightly, is rarely sold at more than 80% of new price. . Both sides of the transaction are voluntary and can walk if they are not happy as one of your examples did. A retailer has to fund the item until it sells, and often does not get the asking price because many of us play Let’s Make a Deal when buying used. Buying as a retailer is a rather unemotional function…largely focused on the question of profit. The buyer wants to maximize profit because that is what they are paid to do. After the transaction, the retailer has to back the item in at least a limited way even though most used sales are as-is. A retailer takes a certain risk when they buy used items. After all, the seller wants to get maximum bucks and may not reveal all the issues that exist on the used item.

As a frequent seller of used items, I also think that I should know what the item is worth to me and to the market. The shotgun seller in your example may have had economic pressures that meant he was willing to take less than market value for his guns. We have all been there. The handgun seller may not have had economic pressures, so he could walk until the price was right. If I am looking at a used handgun that I really want (new at $500) I would figure on buying it for $350-400. If I wasn’t drooling over that gun, It might need to be priced at $250-300 to get the saliva running. If the retail buyer pays $250 or more for the used gun, they will need to price it out of the range all but a few buyers (assuming buyers think in a similar way to me).

I have trouble characterizing any one in retail as “ripping off” the customer in the manner you outline. I am as greedy as the next guy and I would be happy to give the shotgun guy $100 for each shotgun, and probably would have struck a deal for $225 for the handgun but I wouldn’t consider that greedy or manipulative. Do you know the price your buddy paid for the handgun? We all like a good deal and buy things because they are on sale or on clearance.

I think there are retailers and private individuals who manipulate and rip off others. I don’t feel your examples quite reach my definition of ripping off.

This forum is a great way to make transactions at a fair price…networking always is. There is a down side though, because we don’t get to have the warrantee/ guarantee advantages that retail sales offer.

[Widge]

It's not a rip off, it's a market economy. If you don't like the price you're offered don't make the sale. You can't do the deal and then complain you were 'ripped off'.

It's the same with cars, TVs, washers, dryers and everything else. You'll never get the same money for them that you paid out to buy them. The only things that historically were worth more when you sold them were houses and precious metals - and even that's not true any more.

[Holland&Holland]

I agree with whats been said. Unfortunatly it is a buyer or seller beware economy and one has to do their homework to get the most value. With the plethera of info available on the web anyone can buy and sell competently.

[DeanC]

Maybe we should have the President tell us what is the maximum amount we should be allowed to earn? Oh yeah, he's already trying that.

The gun market is funny. Lots of different pressures than a regular liquid market. And right now it's even funnier than usual with all the booga booga about possible political changes.

Some market price determining factors:
1) Hunting seasons
2) Inventory space
3) Lack of Market price info
4) FFL regulation expenses
5) New models
6) Lack of competitors

And that's just off the top of my head

[jaysong]

We need a law to prohibit people being taken advantage of. Look we are now going to finally put a cap on those greedy CEO's salaries.

For those that do not know, the above is sarcasm.

[R.E.T.]

We need a law to prohibit people being taken advantage of. Look we are now going to finally put a cap on those greedy CEO's salaries.

For those that do not know, the above is sarcasm.

Lets start with the politicians who are borrowing Billions that we wil have to pay back.

[justaguy]

With our help the free market can be stopped.

[infidel]

Willing buyer, willing seller. I might add that I have bought a handfull of guns from the place I believe we are talking about. I will never sell a gun there. Buying a firearm there is mitigated by the perks recieved upon purchase. Generally new guns can be found cheaper elsewhere.