Is this a rip off

[John Gryphon]

its not a rip off if you don't accept the price.
It not a rip off either if you do, as you have accepted the price

Sage words, OP has gob wide open.

 

[B&W FOX]

Try Stephen and Son, Leighton Buzzard and Donaldsons, Milton Keynes, there estimates will be within a few pounds of each other, speaking from experience
I think EJC may have trouble moving a semi-auto off the rack, hence the low ball price.

 

[Stumpy2]

Is it a rip off….?

It’s a sign of the market at the current time.

Gunshops need to make a profit the same as any business and we all know how business cost have risen recently. Having money tied up in an asset sitting on a shelf that struggles to sell for a reasonable return isn’t good, as you’re finding out yourself.

Are you selling it because you need the cash?

Are you selling it because it’s not being used?

Are you selling it because you’ve seen something else that takes your fancy?

These questions all have a bearing on if it’s a rip off or not.

Personally I’d keep it, chalk it up to experience and use it, or try and sell it through the classifieds on this forum. You will take a hit financially but that’s the position you’re in just now.

All the best

 

[VSS]

The trade in second-hand firearms is a buyer's market. Simple as that.

 

[NFINO2]

It’s a rip off. I would put it on gun trader or gun deal for £750-800 and it would be a good deal at that price tbh.

 

[enfieldspares]

My late father had a number of words of business that he'd share. Two were "First loss is the easiests to bear" (as seen by TIKKAT1X and his Miroku) and the other was "Always leave a profit for the next mand and then he'll come back to you". The second doesn't really apply here.

I think that in this market especially if a self-loading gun and the thing doesn't have the fleur-de-lys high performance steel proof it will be hard to sell. And with or without folk are perhaps also spooked by fear if what will happen to restricted magazine self-loading guns after the cinsultation on s1 and s2.

 

[Gunner223]

Im local to the Oxfordshire area, the only Gunshop I would use and believe is Francis Lovals at Witney,

 

[Heym SR20]

My maths may be wring but take off the VAT before seeing if it is as much as a rip off as it seems. So with the VAT removed that's £1,160. The other way to look at it is that second hand a thing can be worth only 50% of the new price. So that's £725. Either or either was the RFD will, I assume, need to stand by the item when he sells it on. He'll usually put a 50% mark up on what he pays the seller. So that is £400 plus 50% = £600 window price. That way he at least has a reasonable chance to find a buyer. But the only true value of a thing's worth is open market of willing buyer and willing seller. So there's always the auction houses.

You also need in the cost of money for the RFD. £400 in cash paid out to by a gun to sit on the shelf is money that is tied up for who knows how long. Working capital finance will typically cost 2 or 3% per month or 20% per annum.

If you tie up the £400 for several months, then those funds can’t be used to buy other stock that can be turned over much more quickly.

A new gun still with its factory stickers on etc is a new gun with all the warranties etc. And as a buyer you know that it is a new gun.

As soon as it has been used it is no longer a new gun, and is competing against every other new gun out there.

Things like Benelli M2s are very much working guns. They are bought by farmers, keepers etc to do a job. They probably bought through a business so VAT recovered, but they want the confirmation that it is new so its reliable etc.

Like new cars, new guns suffer significant loss in value as soon as they leave the showroom or dealer. Even top end Purdey’s, H&H etc if you will tens of thousands of what you paid when you come to sell them.