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My apologies to those whom were planning on meeting Saturday for PPT.
I'll try to be brief. I've been collecting for several years but due to family dynamics, lack of interest from any of my children, and my inability to give my firearms the use and attention they deserve, I had decided this year to sell most of what I have, lets say maybe 20 or 25 pieces.
I posted 3 handguns on forum and during conversations with forum members committed to sell those 3, plus 3 additional. 6 total handgun in 6 transactions. I went to FFL for the first and was informed by the sales clerk about a new law effective Jan 1, which is Senate Bill 376. It was explained that private persons are restricted to 5 sales transactions per year but can sell up to 50 firearms as long as they are sold together in 5 transactions or less.
I didn't believe the clerk because of how much incorrect info I've heard from different FFL's. I went home looked it up and the clerk was correct. No more than 5 transactions per calendar year without a firearms sales license. Problem one, I was already committed to 6 transactions but could only do 5. Same day as the first transaction which happened early AM, I was scheduled a second sale in the evening. I called that buyer, shared my frustration. We talked for a few mins and realizing my transactions were limited I discounted 3 more items enough to make it worth his while. He bought 2 handguns at a fair, slightly below market price and 2 rifles at a significant discount. (Savage 30-30 bolt action for $100, fully built custom Remington 700 bolt action for $1000 ($500 stock, $350 scope, $80 mount, $100 bipod, $80 rear monopod, he basically paid for stock, scope, bipod, and got the rifle for free)).
Now I've completed 2 of my 5 allowed transactions. I have 3 allowed transactions left but 4 commitments. Who do I cancel? But what if there is something else I want to sell even more, I have to wait a whole year. Regrettably I cancelled the remaining 4 deals because I am trying to reduce the number of pieces I have, meaning I now have no choice but to discount multiple items together in order to sell multiples to single buyers, or I can sell one at a time but it will take me five years to sell what I need to sell. It is very hard to sell multiple items for value to the same person because people don't usually purchase that way, and people have different interests. The person buying Glock pistol may have no interest in antique rimfire rifles, or pump shotguns, etc. This law will force people wanting to get out of a collection to either wholesale them at a loss, or take many years to slowly sell them, effectively forcing them to keep firearms they no longer want.
This is not intended to start a discussion here, just sharing why I cancelled these sales. I will likely duplicate this text into another thread for discussion. I'm pretty affected by this and am considering seeking legal council to see if there is a possible or pending law suit due to the forced hardship of preventing someone from recovering their legal investment in a timely manner. At the moment I wouldn't mind being lead plaintiff on a legal case despite all the scrutiny that will come with it. Cheers
I'll try to be brief. I've been collecting for several years but due to family dynamics, lack of interest from any of my children, and my inability to give my firearms the use and attention they deserve, I had decided this year to sell most of what I have, lets say maybe 20 or 25 pieces.
I posted 3 handguns on forum and during conversations with forum members committed to sell those 3, plus 3 additional. 6 total handgun in 6 transactions. I went to FFL for the first and was informed by the sales clerk about a new law effective Jan 1, which is Senate Bill 376. It was explained that private persons are restricted to 5 sales transactions per year but can sell up to 50 firearms as long as they are sold together in 5 transactions or less.
I didn't believe the clerk because of how much incorrect info I've heard from different FFL's. I went home looked it up and the clerk was correct. No more than 5 transactions per calendar year without a firearms sales license. Problem one, I was already committed to 6 transactions but could only do 5. Same day as the first transaction which happened early AM, I was scheduled a second sale in the evening. I called that buyer, shared my frustration. We talked for a few mins and realizing my transactions were limited I discounted 3 more items enough to make it worth his while. He bought 2 handguns at a fair, slightly below market price and 2 rifles at a significant discount. (Savage 30-30 bolt action for $100, fully built custom Remington 700 bolt action for $1000 ($500 stock, $350 scope, $80 mount, $100 bipod, $80 rear monopod, he basically paid for stock, scope, bipod, and got the rifle for free)).
Now I've completed 2 of my 5 allowed transactions. I have 3 allowed transactions left but 4 commitments. Who do I cancel? But what if there is something else I want to sell even more, I have to wait a whole year. Regrettably I cancelled the remaining 4 deals because I am trying to reduce the number of pieces I have, meaning I now have no choice but to discount multiple items together in order to sell multiples to single buyers, or I can sell one at a time but it will take me five years to sell what I need to sell. It is very hard to sell multiple items for value to the same person because people don't usually purchase that way, and people have different interests. The person buying Glock pistol may have no interest in antique rimfire rifles, or pump shotguns, etc. This law will force people wanting to get out of a collection to either wholesale them at a loss, or take many years to slowly sell them, effectively forcing them to keep firearms they no longer want.
This is not intended to start a discussion here, just sharing why I cancelled these sales. I will likely duplicate this text into another thread for discussion. I'm pretty affected by this and am considering seeking legal council to see if there is a possible or pending law suit due to the forced hardship of preventing someone from recovering their legal investment in a timely manner. At the moment I wouldn't mind being lead plaintiff on a legal case despite all the scrutiny that will come with it. Cheers
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