The Internet Problem (a.k.a. instant expert)

[Rick983]

I am 66 years old and have collected WW2 firearms and militaria for 45 years plus. I consider myself a student of these items and I always buy the books before I buy the item. Myself and a couple of friends set up at a local show and have for many years. I put things out to sell but really like to buy things for me. Up until just a few years ago, people would come up to me and ask about their guns and I was happy to tell them. And of course they want an appraisal. I am very honest with them and offer a fair price. However, recently I'm seeing people show up who have been on the internet and without understanding what they have, see prices that are totally unrealistic. When I tell them the truth, they look at me like I'm a crook. As an example, a man brought in a common WW2 Luger pistol someone in his family had brought back. It was decent, not great and I told him retail was around $1300 and I could give him $1000 cash. He said he had seen them selling for $3000 and more on the internet and that's what he wanted. I tried to explain that theirs was probably a scarce variation that was worth more. Also, remember that what you ask and what you get for guns can be quite different. To sum it up, I'm buying a lot less guns from the public and I'm seeing the same guys hauling the same guns around every show trying to get their fantasy price. So I say it again, a little knowledge can be dangerous.

 

[walt o]

I agree with you .Everyone thinks that they have a 100% grade collectors piece . ,most don't know what 100% means They look at G.B. and see the asking price but don't look up the sold price . But i do enjoy seeing the old or unusual guns that come in.

 

[Jeremy1066]

I would tell them to go sell it online then! Don't take other people's ignorance personal.

 

[Kirk Freeman]

Old+German is not always valuable.

 

[Dead Duck]

I am 66 years old and have collected WW2 firearms and militaria for 45 years plus. I consider myself a student of these items and I always buy the books before I buy the item. Myself and a couple of friends set up at a local show and have for many years. I put things out to sell but really like to buy things for me. Up until just a few years ago, people would come up to me and ask about their guns and I was happy to tell them. And of course they want an appraisal. I am very honest with them and offer a fair price. However, recently I'm seeing people show up who have been on the internet and without understanding what they have, see prices that are totally unrealistic. When I tell them the truth, they look at me like I'm a crook. As an example, a man brought in a common WW2 Luger pistol someone in his family had brought back. It was decent, not great and I told him retail was around $1300 and I could give him $1000 cash. He said he had seen them selling for $3000 and more on the internet and that's what he wanted. I tried to explain that theirs was probably a scarce variation that was worth more. Also, remember that what you ask and what you get for guns can be quite different. To sum it up, I'm buying a lot less guns from the public and I'm seeing the same guys hauling the same guns around every show trying to get their fantasy price. So I say it again, a little knowledge can be dangerous.

I think you're right on.
Internet's just a fad anyway. It won't last long.

 

[Jeremy1066]

Old+German is not always valuable.

Halt den mund Kirk Freeman​!

 

[actaeon277]

Doctors see this problem, but not about prices.

 

[LarryC]

I am 66 years old and have collected WW2 firearms and militaria for 45 years plus. I consider myself a student of these items and I always buy the books before I buy the item. Myself and a couple of friends set up at a local show and have for many years. I put things out to sell but really like to buy things for me. Up until just a few years ago, people would come up to me and ask about their guns and I was happy to tell them. And of course they want an appraisal. I am very honest with them and offer a fair price. However, recently I'm seeing people show up who have been on the internet and without understanding what they have, see prices that are totally unrealistic. When I tell them the truth, they look at me like I'm a crook. As an example, a man brought in a common WW2 Luger pistol someone in his family had brought back. It was decent, not great and I told him retail was around $1300 and I could give him $1000 cash. He said he had seen them selling for $3000 and more on the internet and that's what he wanted. I tried to explain that theirs was probably a scarce variation that was worth more. Also, remember that what you ask and what you get for guns can be quite different. To sum it up, I'm buying a lot less guns from the public and I'm seeing the same guys hauling the same guns around every show trying to get their fantasy price. So I say it again, a little knowledge can be dangerous.

I'm 73 and have collected firearms for many years, I don't buy, true rare antiques, much of my collection is WW1, WW2 military firearms. I tune and shoot all the firearms I own (at least a few times). I have bought several from friends and acquaintances, some at GS's and some at dealers. I would say as a rule most people, even some dealers, have no idea how to grade firearms. I have often seen firearms missing a magazine, cleaning rod or some similar item. A lot of times that alone may cut the retail price by 20 to 50%. Often the numbers are mismatched, that can be a killer on resale. Occasionally I have seen replacement parts like the stock or other items, again the price is far reduced from what a person may find on the internet. I would say one answer to your issue is to SELL some of your firearms. When a person walks up and declares "My X is worth $3,000 and you have a similar firearm you purchased for $1200, offer it to him as an investment for $2500! You can almost always buy another for $1200 or $1500 and pocket the Grand!

 

[BehindBlueI's]

You've come to the right place. We've got a few Internet experts who aren't afraid to wade in from a position of ignorance and try to Google and Wikipedia themselves into a position of knowledge.

Anyway, when I'm in the market for a firearm now I watch Gunbroker auctions for a few weeks and see what they actually sell for. That's the market value. I don't care what you originally paid for it, what Uncle Cleatus Von Brummbersmith said it was worth, or what your latest price guide says. If 15 guns sell for $xxx +/-$50...that's the going rate. I do the same for the rare instance I sell a gun. It lets me sell quickly, at asking price, and I don't have to sit on it and bump ads for a few weeks.

 

[edporch]

I
-snip
He said he had seen them selling for $3000 and more on the internet and that's what he wanted.
-snip-

I would tell him he needs to go sell it where he can get $3000.

 

[bgcatty]

You are absolutely right about the same old guys bringing the same old guns with ridiculous prices to the local gun shows and expecting a different result. Obviously these so called "experts" do not believe in "moving the iron" to keep the cash flow moving. I don't think these guys will ever learn.

 

[BE Mike]

I'm not so sure that the internet has that much to do with it, although it is a factor. A lot of it is that there are so many relatively new gun owners who lack basic firearms knowledge. Some of them rent tables at gun shows time and again. Part of the problem goes back eons. It is where the buyer thinks the seller's price is too high and the seller thinks that his item is valuable and rare. This is pretty much human nature.

 

[orangeITguy]

I hate the internet for this reason. (well not this exact reason but close) 1. everyone thinks they know everything about computers. 2. The arm chair commandos, esp like the guy i work with. He read online that its "recommended" to run your AR dry and actually believes this and preaches it.

 

[223 Gunner]

I hate the internet for this reason. (well not this exact reason but close) 1. everyone thinks they know everything about computers. 2. The arm chair commandos, esp like the guy i work with. He read online that its "recommended" to run your AR dry and actually believes this and preaches it.

Yep.....lots of misinformation on the net.

 

[looney2ns]

I watch the show Pawn Stars from time to time. They run into the same thing on there with guns and other items. They think the experts evaluation of the item is wrong.

 

[PRasko]

Something is only worth what someone else is willing to pay.

If they don't like your price, it's their loss.

People get pissy all the time because they have no idea what overhead is, or even how to run a business, and demand ridiculous prices that they'll never get.

 

[Mark 1911]

Old+German is not always valuable.

Sounds like something my wife might say (to me).

 

[OakRiver]

I know it's easy for me to say, but try not to take it personally. As long as you can stand by your appraisal, and give facts and reasons why you arrived at that price instead of the $3K price tag, and don't strong arm the person then I don't see anything wrong with giving people information. What they choose to do with that information is their choice.

 

[HoughMade]

Doctors see this problem, but not about prices.

Whew, good thing lawyers never have to deal with that.

 

[Libertarian01]

To All,

"A little learning is a dangerous thing." - A Pope

When dealing with firearms there are many millions of standard design that are seldom sought and as such have a low collectors value. The Luger is NOT one of them. This is one of the pistols I do not own but would love to. Having said that, my preference would be a WWI artillery Luger. I just know that most are out of my price range at this time.

The reality is that true collectors worry about little details of limited run models pushing prices wwwaaayyyyyyyyy up into the clouds for some models. The difference of a single stamp or year can affect the price 10 fold. People do NOT understand this! They think a Luger is a Luger is a Luger, and so if one sold for $X then mine must be worth the same. If not, you are cheating me!!!

It isn't just the internet. How many folks have watched the Antique Road Show and seen a lamp that appraised at $20,000 and now think everything in grandma's house is priceless treasure?!? They overlook the fact that the lamp they saw on TV had the word Tiffany stamped on it, or some other rare collectable mark.

The good side of the internet is that all the information IS REALLY out here! Folks just need to pay attention to all the details and do their research! Regrettably, this takes time and effort, commodities few are willing to pay in our drive through lifestyle.

As a followup most folks have heard the phrase "a little learning is a dangerous thing", yet few know that it is only the beginning of a poem. So, to follow in the footsteps of one of Americas greats, Paul Harvey, here is the rest of the story:

A little learning is a dangerous thing ;

Drink deep, or taste not the Pierian spring :

There shallow draughts intoxicate the brain,

And drinking largely sobers us again.

Fired at first sight with what the Muse imparts,

In fearless youth we tempt the heights of Arts ;

While from the bounded level of our mind

Short views we take, nor see the lengths behind,

But, more advanced, behold with strange surprise

New distant scenes of endless science rise !

So pleased at first the towering Alps we try,

Mount o’er the vales, and seem to tread the sky ;

The eternal snows appear already past,

And the first clouds and mountains seem the last ;

But those attained, we tremble to survey

The growing labours of the lengthened way ;

The increasing prospect tires our wandering eyes,

Hill peep o’er hills, and Alps on Alps arise ! Regards, Doug