Estate sales are an unfortunate situation that many of us will have to face at one point or another. While some of the most common items in estate sales include furniture, appliances, and other household odds and ends, it’s not uncommon for collections of firearms to be included as well. Anyone can toss furniture up on an online auction, but firearm estate sales can be difficult if you’re unfamiliar with the process and/or federal regulations. The tips below can help anyone ease into the selling of a firearms collection in an estate.
Price Items Out
If you’re relatively unfamiliar with the types of firearms in the collection you’re attempting to sell, start by selecting a few specific handguns or firles and do some price comparison. By seeing what similar firearms are selling for in online auctions you can begin to get an idea of what the entire collection may contain. If you’re unsure as what types of firearms you’re dealing with, the NRA Museum has a great step-by-step list that can show you how to identify firearms.
Determine Your Interest Level
Let’s be honest – you may have zero interest in investing the time and energy required to put together a firearms estate sale. If that’s the case, you may want to shop around various local auction houses to see what they would charge to liquidate the collection for you. The Rock Island Auction Company is also a world renowned auction house that specializes specifically in firearms. You may also wish to consult with a local firearms dealer and have them inspect the collection for you. Professional dealers will be able to point out the more valuable items in the collection that may be worth listing individually, and those that would be better sold in groups.
Secure Your Funds
When dealing with a potentially large amount of cash as the result of a firearms estate sale, it’s important to protect your funds. Online escrow companies that specialize in firearms escrow, like PaySAFE, offer great financial protection for both buyers and sellers. Buyers are protected as all purchase funds are held until there’s proof of shipping, or the items have arrived for a final inspection. Sellers are equally protected as all purchase funds are verified and held up front – eliminating the risk of non-payment, insufficient funds, fraudulent checks, and credit card chargebacks. Platforms like PaySAFE also provide a comprehensive history of all approvals and the ability to track any needed documentation, which is especially important for firearms transactions.
The sale of firearms as the result of an inherited estate can be as complex or simple as you would like. From the listing of the firearms individually to selling the entire collection in one lot, sellers have many options at their disposal. For more information about selling antique or collectable firearms, see our posts on how to tell genuine from reproduction firearms, shipping antique and collectable firearms, and the top websites for buying and selling firearms online.