Heartbreak at Gunstop today

[45Badger]

Stopped in during the ride home to get out of the snow and see what might have come in. A guy at the counter is selling Larry a bunch of guns, including a mint Colt 1911, series 70. Larry was nice and gave him $500 for it. 5 minutes earlier................

[Pat]

Stopped in during the ride home to get out of the snow and see what might have come in. A guy at the counter is selling Larry a bunch of guns, including a mint Colt 1911, series 70. Larry was nice and gave him $500 for it. 5 minutes earlier................

Would say that Larry took advantage of the guy...

[gyrfalcon]

Would say that Larry took advantage of the guy...

Almost all the stores around do that... Instead of selling or buying stuff at a normal market price range they gouge customers. I understand that it's hard to run a local business, but many of these same folks whine about online competition, or not being able to sell enough to stay in business.

[EJSG19]

seller beware just like buyer beware.

if the guy selling that 1911 was dumb/desperate enough to let it go for that then so be it. right place right time. I don't see the problem.

either the guy didn't know what he had, or what it was worth, or else for one reason or another $500 sounded good to him. Life goes on. Probably a little sticker shock if that guy goes back in to see what his 1911 is being sold at! Lesson learned the hard way.

Larry's sale prices, if I'm not mistaken, tend to be some of the lowest of any brick and mortar store in the area.

[Paul]

Would say that Larry took advantage of the guy...

Almost all the stores around do that... Instead of selling or buying stuff at a normal market price range they gouge customers.

Without knowing any additional information about the transaction, how do you know he took the advantage of the guy? If the customer went in and asked Larry what the retail value of the gun is, and was told $500, yeah maybe that's wrong. But if the guy walks in and asks what Larry will buy the gun for, and is offered $500, what's wrong with that? Larry turns around and sells the gun for $800, and life's good.

Places like Gunstop are in business to make money. Of course they are not going to buy stuff at normal market value. They need to be able to turn around and sell it for a profit. Why would Larry tie up money on a transaction that he hopes to just break even on?

Much like anything else, it's all about personal responsibility and accountability. It's on the consumer to do 30 seconds of internet research to determine if they are getting a fair deal or not. And, you can't expect to get top dollar when you are selling to a retailer. That's just the way it works.

[White Horseradish]

Besides, the gun being mint on the outside does not mean it wasn't a playground for an amateur gunsmith and a complete basketcase inside. Just keep telling yourself that.

[ijosef]

How do you think Larry would've taken it had you punted right in front of him (honest question)?

[gyrfalcon]

...Without knowing any additional information about the transaction, how do you know he took the advantage of the guy?...

In this instance I don't, but if you go into the Gunstop tomorrow you might want to see what sort of price you can pickup that gun up for... I'm not trying to rip on Gunstop but more point out that it's insulting and unethical to try and gouge people for whatever reasons. I have nothing against making a profit, or buying low and selling high as the market dictates... In my personal experience I'm not overly impressed with Gunstops prices.

[gyrfalcon]

How do you think Larry would've taken it had you punted right in front of him (honest question)?

I think most FFL's would kick you (and possibly the seller) from the store immediately if you discussed a private sale on the premises.

[Paul]

I'm not trying to rip on Gunstop but more point out that it's insulting and unethical to try and gouge people for whatever reasons.

I have nothing against making a profit, or buying low and selling high as the market dictates...

Well which is it? You can't have it both ways.

I'm sure $500 is inline with what a retail reseller would pay for the gun. How is this unethical? What moral standard do you think retailers should be bound to?

In other words profit is OK as long as they are only making $X.XX or X%?

[45Badger]

Larry's price was in line with what the gun is worth. No gouging took place. The retailer has to lay out his cash for the inventory, insure, heat, light the place, pay rent/mortgage, pay employees, and pay himself. All that out of a couple hundred bucks (on a very good day and deal) profit on a gun. I'm just bummed that I didn't get there in time to gently nudge the guy my way to check it out before their deal was set. I spoke to Larry briefly when he was done asking him what he was going to price it at and he said he was probably going to keep it.

How do you think Larry would've taken it had you punted right in front of him (honest question)?

Probably would have had a cow, and rightfully so. I don't like people "busting in" on my business, so I don't do it to others.

[RobD]

Ever watch Pawn Stars?

Customers know just because something is WORTH $800 does not mean they get $800...
Businesses need to make a profit. That's what keeps them open.

A price was offered, the seller accepted the price.

[gyrfalcon]

...Well which is it? You can't have it both ways...I'm sure $500 is inline with what a retail reseller would pay for the gun. How is this unethical? What moral standard do you think retailers should be bound to? In other words profit is OK as long as they are only making $X.XX or X%?

Yeah you're right, businesses should just stick it to folks and make as much profit as they can in any given situation. It's a dog eat dog world...

[Squib Joe]

Almost all the stores around do that... Instead of selling or buying stuff at a normal market price range they gouge customers.

Gouging is defined as something done by the seller, not the buyer. In a case like this, the owner of the 1911 is the seller and the only one capable of "gouging".

Larry didn't offer what the gun was worth- he offered what the gun was worth to his store as a retailer. There is and will always be a big difference.

[gyrfalcon]

Gouging is defined as something done by the seller, not the buyer. In a case like this, the owner of the 1911 is the seller and the only one capable of "gouging".

If you have a better term for a buyer taking advantage of a seller that's uninformed or under pressure to sell let me know.