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The Implementation Guide for Gun Consignment Form

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Comprehend How to Fulfill the Gun Consignment Form

hello and welcome back I am Chris with.marksman shooting sports in Westfield.Indiana and you are watching marksman TV.welcome back to another gun store vlog.and this week we are going to talk about.consigning versus selling your used gun.inventory to a gun store which option.works better for you and we will get.into that now this week I'm not doing.any type of inventory stuff but I did.just open up a Instagram account which.you can follow at marksman underscore TV.and I'm going to be posting up a lot of.the type of you stuff we get in some.some pictures and cool stuff if we're.out shooting so I am kind of new to.Instagram so if you guys could go follow.me I would really appreciate it and I'll.kind of delve into that and see you know.what I can do with that it is sort of a.new platform of getting content to you.guys anyway let's go ahead and jump into.it now.[Music].all right so getting into the question.of the week should you consign or should.you sell you are used firearm inventory.when you're ready to sell it okay.there's going to be pros and cons to.both avenues from both the perspective.of the gun store and from the seller so.let's start with consignment from the.perspective of the seller or I mean from.the gun store that would be me.there are some pros and cons so the.negatives typically I will say is that.if somebody comes in with a firearm that.they want to sell to the gun store or.get rid of and a consignment basis.typically the gun store is going to get.less money out of it when it sells then.they would have how they just bought it.outright and then gone and resold it so.that's one the other thing is the gun.store does not have as much control over.the inventory when they go to sell it.that means if they want to pry it you.know put it at different price levels.the lower the prices put it at a nice.competitive price to blow it out if they.want us to trade it on something that's.something else is how do you work it out.when you have somebody else's firearm.and you want to trade it on something.else I guess the gun store could then.pay the owner of the firearm cash if the.gun store wants to put an on gun broker.or send it off to an auction they have.to get the approval of the person who's.consigning the firearm before they do.that so you just do not have as much.control the other thing is generally the.paperwork that's required so a lot of.gun stores might do a over-the-counter.handshake especially with very good.customers that they are familiar with.who maybe they've consigned a lot of.firearms for you or they say hey our.consignment fee is 15% you are bringing.in your firearm for consignment when we.sell it at the price that you agree on.you know we will get 15% of that what.happens if a month or two goes by.finally the thing sells either party can.be a little bit fuzzy on what the terms.were if they weren't weren't written.down and then there can be a.disagreement over how much money is owed.and kind of lead to a nasty situation so.because of that it's always good to keep.a consignment agreement but with that.consignment agreement comes time so say.somebody wants to come in and consign a.collection of ten Cold pythons you have.to sit down come out with you know.hammer out a agreed-upon value on each.one write everything in right in the.percentage that you agreed on what if it.sold at that price.the percentage dollar amount would be.you know how much time you agree that.it'll stay there it's like the gun store.will want to be guaranteed that it'll be.there a certain amount of time for their.work you know they don't want the to go.through all that paperwork list.something up for sale and then the.original owner to come in the next day.my gadgets my mind you know because then.you know the gun store isn't getting any.type of compensation for all their work.usually you say okay it's got to be here.a maximum of three months or you know.also the gun store if something it just.isn't going to sell they don't want.something sitting there for two years.taking up their shop space so usually.you have a period of time agreement that.both parties feel comfortable with where.it has to stay there both parties agree.on it so again that takes away a little.bit of the control away from the gun.store you know having to say okay this.thing must stay here I can't just put it.up on gun broker and sell it if I'll add.a loss if I want to just just to move it.and get it out of here because I have.other things coming in now the.advantages from the perspective of a gun.store on consignment they're real big.one is obvious that is saying let's go.with those ten colt pythons now those so.let's say $2,000 apiece.stocking those are buying that.collection from that person at a fair.price that will be you know well up over.ten thousand dollars that that gun store.would have to invest in that inventory.and a consignment agreement that's nice.because you can get in a really nice.collection of pythons which would bring.in a lot of attention and a lot of.people might be interested in that also.gives again saw an opportunity to make a.consignment feel on those and the gun.store does not have to front any capital.so that is the number one obvious.advantage for the gun store now in our.case here in our store we don't do.anything with consignment I prefer to.just buy things outright and unless I.usually say if the sales price is going.to exceed $10,000 I don't want to mess.with consigning it I would rather just.buy it from you now we have a pretty.small operation you know I again like.I've said on other vlogs time is money I.have to put my time where you know.around where I can and it's difficult.having to come up with consignment.agreements if somebody wants to come in.and haggle on a firearm I have to get.you on the phone and ask will you take.this will you take that.so it's a lot of complication I try to.avoid and just say hey I will buy the.firearm outright from you you know if I.can and then you know I'd rather just.sell it on my own.I don't know if there's other gun store.employees or gun store owners watching.what are your general sort of.limitations on consignment I would be.very interested to know so let's talk.about consignment from the perspective.of the seller so the advantages of.consigning are you will usually get more.money out of the firearm at when you can.sign it versus when you sell it okay.obviously since the gun stores not.paying you were fronting you the money.for that inventory you can expect like.hey gun store I'm putting a very rare.very nice firearm in your case for free.it's not costing you anything but when.it sells you know I want to get most of.the money of course you're going to get.a commission for offering my firearm to.your customers and putting it in your.shop which you pay for you know but if.you sold it outright you know instead of.a 10 or 15 percent margin on that item.which you could get for a consignment.you might expect 25 35 40 percent that.the gun store is going to try and make.on it if they buy it outright from you.the excuse being ham I'm investing a lot.of cash in this gun I don't know how.long it's going to sit here therefore I.need to get more out of it when it does.sell the other advantage of the.advantage to consigning you are used to.firearm to a gun store is you get an.idea of the true value of the firearm so.say you have that Colt Python that you.inherited and you don't know what it's.worth and to you it's a it's a five.hundred dollar revolver and you go into.a gun store on the gun store says they.offer you three and you think to.yourself that's worth five they're going.to give me three okay fine and you just.sold your two thousand dollar revolver.for three hundred dollars now in the.basis of consignment that's really not.going to happen to you and less the gun.store for whatever reason because the.gun store knows with that Colt Python is.worth unless they want to convince you.to sell it for five hundred dollars when.they could sell it for two thousand and.make fifteen percent or ten percent on.that two thousand which they are going.to be incentivized to do so their.incentive will be to sell your gun for.as much as they can and with that low.consignment percentage rate you're going.to get more out of it so you have more.transparency of the value of those fire.arms so a big plus is if you inherit a.bunch of guns usually good to push for.consignment because you know you're.going to get a true market value less a.consignment fee for those items same.thing is if you put them up for auction.you know with no reserve you know that.the thing is going to end somewhere.around where the market is willing to.pay it reduces your risk for being.screwed because you didn't know what you.had now some of the negatives for for.consignment from the customer standpoint.is in a consignment agreement the gun.store is really just acting as an.intermediary and they are connecting a.buyer to your firearm which you still.own okay so you do have to stay.connected to that inventory as long as.it's it's in the gun stores shelf and.you know in some instances of.consignment agreements people could say.hey I'm the gun store I'm just finding.you a buyer I'm just putting this in my.case I'm handling your paperwork for you.for a fee but as far as the transaction.is concerned like if they take your used.Python take it home and blow it up and.they come back to me I'm going to send.them to you because it's your gun I just.worked as an intermediary I did not take.responsibility for it you know in a lot.of places who do consignment they will.say okay I'm going to back the sale no.matter what happens you know once they.pay me and I giving you your consignment.money you're done some gun stores are.different maybe pawn shops work that way.but I do know that some will say hey.again in the contract I'm an.intermediary any terms of the sale are.between you two and I'm just taking my.cut so make sure if you have a.consignment agreement you understand the.position that the gun store is taking so.with that being said it could be a.negative that you stay connected you.have to receive phone calls from the gun.store saying hey so-and-so's looking at.your firearm will you take this for it.they're trying to haggle it down you.know so you do get that constant life.interruption of waiting for that gun to.sell which you could avoid by just.selling it outright if you sell it.outright they paid you the cash you've.signed a receipt the gun stores bought.it you're done with it that's it it's.gone the gun store will sell it if the.gun store sells that gun and there's an.issue the dense store totally has to.back the item because they sold it as.the seller of that inventory now another.negative you have to consider is you are.not going to get any money for your.consigned item until.the fighter are themselves so in a lot.of cases when people want to sell their.firearms is usually to get that money.out of it to put it into something else.say some new hot egg or something just.came out and hit the market you really.like let's say it's sick 365 you really.like it you really want to grab one gun.store down the road just got one in and.you know it's gonna sell quickly you.need to quickly dump a couple your old.firearms you don't use to get the cash.in hand to go buy it with a consignment.agreement that's pretty much impossible.because even if it takes two or three or.four days you're not going to get that.money until after your your item sells.and you know and then you can come in.and the gun store can you know then pay.you out on it so then the question comes.in to is when is it a good idea to sell.the firearm outright to a gun store.versus ensign then usually I say that.that's kind of you know that would go.case-by-case so if you are in a position.where you do want the money quickly and.you just want to get rid of them you.want it to be done a done deal you don't.want to have to deal with it then I.consider just selling the firearm.outright now keep in mind like we said.time is money when you are doing when.you are selling the firearm the way I.look at it in any type of transaction is.you are not foregoing additional money.that you you know what otherwise have.received just plain and simple.point-blank you're you're not just.foregoing that money when you are.talking about the difference between.different transactions you are talking.about putting time versus money so for.example if you sell an outright you will.get less because you get the benefit of.not having to put in the time and effort.of waiting for it to sell so even though.you get say okay let's back up and say.you're selling a Glock 19 I'm just gonna.use some round numbers if you sold the.gun outright you get three hundred and.fifty dollars whereas if you can sign it.you get fifty dollars where's the.benefit of that fifty dollars you we're.not losing 50 dollars you are paying the.$50 for the benefit of getting your.money today you don't have to answer.questions or phone calls if somebody's.trying to have or ask a question about.the firearm you don't have to worry.about you know is the you know depending.on the agreement with their gun store.are they if my Glock 19 has issues and I.to hear about this thing again in two.weeks and you know have to you know deal.with it even further so for that fifty.dollars you are getting the convenience.of getting your money today and the sale.is done if that extra fifty dollars is.meaningful to you and you are willing to.wait two weeks to get paid on that item.and have to answer phone calls maybe.deal with haggling or anything like that.then that is what you are that's what.you are gaining for that extra time you.are willing to put in you are gaining.fifty dollars I put it this way too.we're selling a firearm to a gun store.versus selling a firearm to a private.party every single time in the instance.of selling the firearm to the to the end.buyer you are going to get more money.that goes without saying.if you sell it to the gun store you are.going to get less money are you for.going that extra money just for the.simple purpose of who you're choosing to.sell it to know when you are selling to.a gun store you were getting you are.buying the benefit of going to a gun.store that day getting the cash in hand.that day and then having the gun store.go and find the buyer that's going to.buy it you can go find the buyer who's.going to buy it and get that extra money.or you can let the gun store do it but.that's where that extra money is going.to whether it's going to the gun store.going to you so that's kind of the way.you have to figure out these.transactions is is that extra money.worth the extra time if not so it be.done with that take what you got for it.and we want to away from it down the.road now in this is where consignment.does come out to be very beneficial is.like I said if you get a nice big.collection you are not a gun person and.you don't know what this stuff is worth.you don't want to take the time to.research every single minor detail of.every so you've got a collection of 15.Old World War 2 guns it's going to take.a lot of time for you to become a.knowledgeable seller of those 15 items.if you just put them up for a.consignment you can exchange that work.from having to research the items to.just waiting for them to sell within.your gun store.same thing with in an auction scenario.if you send them off to an auction you.know they're going to sell at about the.market value that's the one good thing.about auctions is is most of these sales.of items do tend to fall around a market.average where you're not going to get.screwed and very limited circumstances.at an auction setting is your item going.to go to.Stickley below what it was you know it's.a market of value and in many cases it.goes drastically higher so that's.another thing auctions can be a topic.for another week though now in the.instance of selling if you say you.inherited a firearm you don't really.know what it's worth you don't want to.get screwed on it but you really want.that money today you just cleared out in.a state you have a few siblings you just.want to get the cash and you don't want.to wait three months you want to settle.the estate and move on from it the best.thing to do if you're going to sell to.get that cash quickly is just take one.afternoon and visit three or four.different places okay you could get that.one store that's going to offer you.three hundred dollars for your $2,000.gun the quickest way to kind of put that.little safety net under you is to go to.three or four different ones because.even if there's one gun store that might.try and screw you chances are not all.four or three are going to so if you get.a $300 offer then an $800 offer then.like a 14 and then a $1500 offer you.know that your gun is probably worth.slightly above the 14 or 15 and those.gun stores are happy to pay you more of.what it's worth and willing to take you.know three four or five hundred dollar.profit when they move in and keep in.mind to higher end expensive stuff the.more valuable the item the less amount.of buyers there are so it is easier to.sell a $300 Bursa than it is to sell a.Glock it is easier to sell a Glock than.it is to sell a Colt Python it is easier.to sell cold Python than it is a.transferable machine gun is the more.money you're talking about putting into.that sale the fewer amount of people.that exist that have that amount of.income that they're willing to spend on.the firearm so keep that in mind too.that usually comes into play with you're.talking about how much of the gun store.is looking to get back because if they.have to invest fifteen sixteen hundred.dollars in a Python they might be.waiting a while before that buyer comes.along who's looking to drop two thousand.dollars into it so keep in mind too if.you have higher in items that you're.looking looking to consign you may be.sitting on them or the gun store may be.sitting on them a little bit longer.which means you're going to have to.consider that amount of time into how.much time you will have to wait to get.your money out of it which is something.else you might want to consider whether.you are going to sell or consign the.item.anyway guys I will leave you with that.if you have any questions about that.please let me know now down in the.comment section if you enjoyed this.video please hit that like button if you.want to see more of our guns to our.blogs please subscribe to my channel and.hit that Bell notification button and.please don't forget to go to my.Instagram page marksmen underscore TV.and follow me there and that you know.again I'm trying to grow that and see.where we can go with Instagram as well I.will leave you with that I am Chris with.marksman shooting sports in Westfield.Indiana you are watching marksman TV and.I will see you next time.

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Gun Consignment Form FAQs

Here are the answers to some common misunderstandings regarding Gun Consignment Form . Let us know if you have any other doubt.

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How can I fill out Google's intern host matching form to optimize my chances of receiving a match?

I was selected for a summer internship 2016. I tried to be very open while filling the preference form: I choose many products as my favorite products and I said I'm open about the team I want to join. I even was very open in the location and start date to get host matching interviews (I negotiated the start date in the interview until both me and my host were happy.) You could ask your recruiter to review your form (there are very cool and could help you a lot since they have a bigger experience). Do a search on the potential team. Before the interviews, try to find smart question that you are Continue Reading

Do military members have to pay any fee for leave or fiancee forms?

First off there are no fees for leaves or requests for leave in any branch of the United States military. Second there is no such thing as a fiancée form in the U.S. military. There is however a form for applying for a fiancée visa (K-1 Visa)that is available from the Immigration and Customs Service (Fiancé(e) Visas ) which would be processed by the U.S. State Department at a U.S. Consulate or Embassy overseas. However these fiancée visas are for foreigners wishing to enter the United States for the purpose of marriage and are valid for 90 days. They have nothing to do with the military and are Continue Reading

How do I fill out the form of DU CIC? I couldn't find the link to fill out the form.

Just register on the admission portal and during registration you will get an option for the entrance based course. Just register there. There is no separate form for DU CIC.

How do you know if you need to fill out a 1099 form?

It can also be that he used the wrong form and will still be deducting taxes as he should be. Using the wrong form and doing the right thing isnt exactly a federal offense

How can I make it easier for users to fill out a form on mobile apps?

Make it fast. Ask them as few questions as possible (don't collect unnecessary information) and pre-populate as many fields as possible. Don't ask offputting questions where the respondent might have to enter sensitive personal information. If some users see you collecting sensitive information, they might not be ready to share that with you yet based on what you are offering, and they will think twice about completing the form.

How easy is it to buy a gun in Texas?

It depends on the gun, whether you are legally allowed to poses a gun, and might depend on if you live in Texas. For instance, it is illegal for a resident of Illinois to purchase a handgun in Indiana (anti gun people love to claim that over 60% of Chicago crime guns come from other states). The legal means of doing so would be to have the seller send the gun to an FFL dealer in your state and then you could legally take possession from that FFL after passing the required background check. Rifles and shotguns are not restricted in this way on a federal level but some states do have restriction Continue Reading

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