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07-21-2009, 01:16 AM #1
How to Sell a Gun in Texas (Private Sales) - Face to Face Transfer, and Other Options
Oftentimes people are often left wondering how to sell their recently inherited or no longer viable guns. As a personal note, you should always cherish heirloom firearms that are passed down in the family, regardless of your disdain for them, they are an important part of our heritage as Americans. I was very fortunate to receive a cheap .22 rimfire bolt-action Winchester from my Grandfather, and it is by far my favorite gun I own.
This is meant as a guide, not as lawyer rhetoric. I am not a lawyer, nor do I claim to be in any fashion. As such, you should assume this is not verbatim to the law and is as such, my interpretation. It is up to you to bear the responsibility for your own actions.
The first thing you need to do is assess the value of the firearm. If you do not know what the firearm is you can often times take it to a dealer and he can give you an approximation of it's value or direct you to someone that can. I often suggest Guns - Online Gun Auction - Guns at GunBroker.com as an online current price book for firearms. Simply type in the name of the make and the model number and generally you'll pull a few results, usually with pictures so you can compare the relative condition of your firearm.
Once you have an idea of what it is worth you can go about selling it via a few methods:
Face to Face - Personal Sale
This is the most common transaction and by far the most profitable one to boot. In the state of Texas you do not have to transfer ownership of the firearm via a dealer, nor do you have to have the firearm re-registered as there is no such firearms registration in the state of Texas.
Your only obligation is to reasonably assume that the purchaser is a Texas resident and legally able to own and possess the firearm. Often times people will request a Texas Drivers License to ensure they are a state resident, write a bill of sale, and sometimes take information from the purchaser. All of these are not required, but to some, are good practice to ensure you, as the seller, are performing your duty properly. Each seller's methods vary, and some buyers are defensive about providing personal info to strangers due to identity theft.
Once the transaction is performed you are done. There's no paperwork, no phone calls, etc. to be made.
Gun shows are good avenues for placing your guns in a buyer-rich environment. If you are unsure how to attract a buyer, I suggest a gun show.
An online alternative would be Texas Gun Trader. Classifieds - Rifles, Shotguns, Pistols, Revolvers, Ammunition ... which is a Craigslist style firearms portal for sales of firearms in Texas. I've had good luck on Texas Gun Trader, and highly recommend them.
Gun Store or Pawn Shop
Gun stores will often times offer you two choices:
1.) Outright Purchase - The gun store will buy the gun outright from you generally at a lower price than what you'd get in a personal sale. This is because the gun store can purchase new firearms at wholesale pricing, and as such, the value of the item is less to the store due to the demand to turn a profit.
2.) Consignment - Some gun stores offer consignment. Essentially they will sell the gun for you in their shop, for a fee. This fee varies, and to use an example ... Red's South in Austin charges 20% as a consignment fee. The buyer sets the price range.
A pawn shop will offer you similar choices, but instead of consignment they will generally pawn the item. Pawning is when the store holds the item for a negotiated loan amount and returns the item upon reciept of the loan + interest.