need help on selling a handgun

Midget

Midget

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Jun 1, 2002
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so i recently purchased my springfield armory 1911 milspec. i don't really have a want or need to own two weapons, so i'm thinking about selling my old taurus.

it's a taurus millennum pro (pt111), 9mm. everything on it is stock, comes with both stock 11rnd magazines. it's definately servicable, no cracks in the frame or jamming due to mechanical failure or anything. slide is tight, it fires and feeds reliably. i got it brand new, and since have put maybe 4000-5000 rounds through it.


i am going to take it to a firearms dealer to get an appraisal. msrp is 395.00, i think i paid around 320.00 for it? i forget.


taking the condition into account and all, how much do you think i should get for it? i've never sold a gun before.

thanks!

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It's hard to say, depending on the dealer and whether or not he thinks he can turn a buck for it. The rule of thumb for selling guns is "aim low, and you won't be suprised". According to my trusty 25th edition of the Gun Traders Guide, your Model PT 111 (double action only) sells for $306 for New in the Box, $245 for Excellent condition, and $167 for Good condition. To be honest, I would have it set in my mind he will offer between $190 to $240 no matter WHAT condition it's in. Fortunantly, Taurus pistols are pretty decient sellers and he'll more than likely buy it from you, but don't expect anything over $275. To be honest, if it were me, I would keep it. I know you already own a mil spec 1911 but who know's. There may be a day (god forbid) that you might just need the services of that gun.

Nope, you can never have too many guns.
 
.45's are fun, but I wouldn't want to be without a 9mm. The money you get from selling that pistol won't cover the cost difference of putting 4-5 thousand rounds through your springfield :eek:
Least around here, you can get 9mm for about half the price of .45 auto. I'd take both pistols to the range with me and use the taurus for warming up and general plinking. Then you can get out the springfield and do some serious shooting. Having a little variety is more fun anyway, and you'll save money in the long run.
 
I agree with Matt Shade. I'd keep it, unless you need the cash to help pay bills or something. There's nothing wrong with having a backup piece. Massad Ayoob, who's been writing about handguns and self-defense for probably decades, says that if you ever have to use your weapon in self defense, the cops will, by necessity, have to confiscate your weapon from you for a period of time. It might not be the time you would want to be totally defenseless. You might really appreciate having that little "9" around just then.
 
Midget said:
i am going to take it to a firearms dealer to get an appraisal. msrp is 395.00, i think i paid around 320.00 for it? i forget.


taking the condition into account and all, how much do you think i should get for it? i've never sold a gun before.
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Since you are in Michigan, I think it is legal for you to do a private party sale. Be sure to check for any local laws or special local codes that apply first. If you sell it yourself at a discount, you will put more money in your pocket then if you sell it to a dealer (or use consignment at the dealer). By the time the dealer subtracts $20 to $30 in paper work hassle charges and puts in his "margin", you are going to be lucky to get %50 of what the pistol is worth in a private party sale. The benefit of using a dealer is that you don't have to do a thing with it other then give it to the dealer and the yellow form paperwork moves the paper trail to the new owner of your pistol.

Considering how cheap 9mm ammunition is relative to 45ACP, you can pay for the Taurus in ammunition cost savings over time. I bought a $500 22lr pistol that way, of course I was shooting about a case of 9mm a week at the time so it didn't take me too long! ;)
 
I've never sold a gun to a dealer. Every offer I've ever had from them has been insultingly low. You should do better though, if you want to trade the gun for store credit. Checking around on a few sites, you could probably get $275 for it in a private deal without too much of a problem. The dealers I know would probably offer you less than $200. However, I agree with the others that unless you're really hurting for money, you should probably keep it. You never know when you'll need a backup weapon.
 
If you do a private sale, get a receipt for the gun.

Basically, take two pieces of paper. On the first, write:

On this fifth day of June, 2006, in exchange for $x received, I, Mr. Midget of Ann Arbor, MI, hereby sell my Taurus Millennum Pro (pt111) 9mm handgun Serial Number xyz and both magazines to Mr. John Gunrunner of Ann Arbor, MI. I warrant that I am the sole lawful owner of this gun.

Signed,

Midget
June 5, 2006



On the second paper, write:

On this fifth day of June, 2006, in exchange for $x paid, I, Mr. John Gunrunner of Ann Arbor, MI, am purchasing from Mr. Midget of Ann Arbor, MI his Taurus Millennum Pro (pt111) 9mm handgun Serial Number xyz and both magazines. I am taking physical possession of this gun and magazines at this time.

Signed,

John Gunrunner
June 5, 2006.


You give him the first paper with the gun. You keep the second paper. This way, if that gun shows up at some crime scene in DC next week and the police manage to trace it to you, you can say, "I sold that gun last week to my friend John. Here's proof." On the other hand, if the police find the gun on Mr. Gunrunner and somehow manage to link it to a crime last month, he can say, "I only bought that gun last week. Here's proof."
 
You are going to get reamed if you sell to a dealer , forget about it and keep the pistol , IMO.
 
I would keep it too :thumbup: money spent is money spent to me.Besides,he who dies with the most toys wins right!
 
Sid Post said:
Since you are in Michigan, I think it is legal for you to do a private party sale. Be sure to check for any local laws or special local codes that apply first.
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I think there's federal law (Brady Bill?) preventing private-party transfers of handguns without waiting periods, 45-73 forms and the like (for which you'd need a dealer as third party). You can bet that since it involves a gun and you aren't actually committing any 'real' crime, they'd be sure to throw the you in the slammer. I'd check with someone from the NRA (they seem to be more up on the details compared with the feds I've contacted with questions in the past.) A gun dealer should know too.
Maybe things are different in other states. I live in CA where if you own a gun and have to ask, you probably won't like the answer.
 
I don't think it's a federal law (though I could be wrong). It is more plausable to run into a state and/or county law. The brady bill (the waiting period and NICS background check) involves dealers with FFL's only (as far as my knowledge). That was the "loop hole" the brady bunch was bitching about for the past 2 decades. I'll have to agree with JCaswell, the best bet is to contact your NRA field rep, if they can't answer you, they'll direct you to someone who can. your rep for MI is:

Don Bassett
P.O. Box 929
Lake City, MI 49651
231-839-1055 (office)
231-839-1059 (fax)


http://www.nrahq.org/fieldreps/index.asp
 
Steyr40user said:
....The brady bill (the waiting period and NICS background check) involves dealers with FFL's only (as far as my knowledge).
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The Brady Bill is no longer valid law, unless I'm mistaken. I believe it had a "sunset" clause and ran smack into it about a year and a half ago. That's why I can now buy normal 13 round mags for my Hi-Power again. Somebody please correct me if I'm wrong.
 
A Dogs Best Friend said:
The Brady Bill is no longer valid law, unless I'm mistaken. I believe it had a "sunset" clause and ran smack into it about a year and a half ago. That's why I can now buy normal 13 round mags for my Hi-Power again. Somebody please correct me if I'm wrong.
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Thank God for Hi-cap mags.
What you are thinking is the "Assault Weapons Ban" AKA: slick Willie's attept to keep all of those dangerous guns off the streets. Dangerous guns with such sinister features as bayonette lugs and a flash supressors :jerkit:

BUT...

you are right when it comes to the brady bill sunsetting. it did that in 98. Many counties kept the 3 day waiting period though because the sunset didn't make it mandatory to lift it. Many dealers decided it would be good practice to also continue with the NICS background checks (to cover their butts understanably).
 
Keep it. More than likely you won't get much for it. Might do better if you used it as trade towards another gun. Regardless, I'd say keep it. Besides it would be easier to conceal than a 1911. Only reason to get rid of it is if you just want to, or are strapped for cash.
 
Halfneck said:
Keep it. More than likely you won't get much for it. Might do better if you used it as trade towards another gun. Regardless, I'd say keep it. Besides it would be easier to conceal than a 1911. Only reason to get rid of it is if you just want to, or are strapped for cash.
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I couldn't agree more!
It's nothing short of a miracle that the 'evil assault rifle' law, for example, wasn't renewed. A freedom lost is usually lost for good--especially concerning guns!
 
I'd keep it until I found something I wanted to trade it in on. You'll probably get better value that way, and you'll be putting it towards a new gun, so you won't spend the money foolishly!
 
thanks for all the great advice guys. i'll seriously consider what you all said.

however, i kinda do need the money. more or less, to offset the cost of my new springfield. it was 530.00, new. i am selling the springfield armory case, holster, and stock grips already on ebay, planning on getting back 80-100 for it all. if i can get around 250.00 for the taurus, i will be very satisfied.

and i understand what you all are saying about keeping the taurus as an investment. but i honestly have little want or need for two handguns. remember, i'm a minimalist freak. ;)

http://bladeforums.com/forums/showthread.php?t=365769&highlight=gadgets

thanks!
 
here's a quick update--

i took my taurus to the local cabelas dealer today to get an apparaisal just to see exactly what i could get for it. dealer there said they'd buy it for 175.00, which is a little lower than what i was hoping to get back (i wanted something around 225.00 range). so you guys win. i bought 100 more 9mm rounds this afternoon for it and i'll likely end up keeping it.
 
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