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Why even bother putting anything on consignment? Sell it here and keep more money in your pocket. I would consider it a lesson learned and probably do business elsewhere in the future.
There’s no 1099-MISC needed for a consignment sale if this was from his personal collection. If firearms were how he put food on the table, and in the ordinary course of business he used a third-party to sell his wares, then maybe. But I’d argue against that too.
Sometimes for weird stuff or trash grade guns you don't want to stand behind, it's the only way. I sold most on my own but consignment is valuable in some circumstances.
-Mike
If you're paying 50% commission/fee for someone to sell a gun for you, you are being ass raped.
Over the past two months I placed a couple of rifles on consignment at a LGS, they sold them and took 20%, their share for the two $560 - no issue.
I’ve had a pistol on consignment for about 3 months hasn’t sold. So I picked it up today and told them I’m planning on bringing another in.
They transferred the pistol, which was on consignment, back to me and charged me a $25.00 transfer fee. I was a little put off by the fee. Am I wrong here?
Consignment = more exposure and less hassle (in theory).Why even bother putting anything on consignment? Sell it here and keep more money in your pocket. I would consider it a lesson learned and probably do business elsewhere in the future.
Was it on the consignment agreement? If not then you have a right to whine, if it was, then not so much.
I've never paid over 15%. Most often I've paid 10%.
THIS shop is your fall guy?
How about the endless supply of shops charging $50 and up for a TRANSFER?
Sometimes for weird stuff or trash grade guns you don't want to stand behind, it's the only way. I sold most on my own but consignment is valuable in some circumstances.
-Mike
THIS shop is your fall guy?
How about the endless supply of shops charging $50 and up for a TRANSFER?
Plus the rent or mortgage, labor for showing it to countless tire-kickers, insurance while it's in theirYea, all it costs them to sell a consignment gun is the paperwork and counter space and maybe the labor to lock them up in the safe. I used to pay 10% but that was a long time ago and I was doing a lot of consignments at the time.
Ouch!They seem to be dumb enough to out themselves by advertising it. There's a shop near me charging $75 for outside purchase transfers. Amazing
I would think to keep a customer happy they would do the xfer for free
They seem to be dumb enough to out themselves by advertising it. There's a shop near me charging $75 for outside purchase transfers. Amazing
Plus the rent or mortgage, labor for showing it to countless tire-kickers, insurance while it's in their
possession. I agree, it only takes a couple minutes to do the paperwork, but the overhead adds up. But still, on a failed consignment, there are risks on both sides. No sales means no commission, transfer back should be free.
Ouch!
wish it was that easy. some guns languish forever even with significant price drops. you have to have something that's marketable. i don't know the op's situation, maybe it was up here. i'm thinking there was paperwork involved when he brought it in. if not and it was me, i'd ask for some. most of that paperwork explains fees. could be a clause that said if you remove a gun from consignment before a certain amount of time you get charged a transfer fee.Sell it here and keep more money in your pocket.
No "out the shop" post yet?