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September 22, 2011
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These photographs are from another site, the OP bought a Colt Single Action Army revolver for $700, or so he claims, from a woman in his church. The story is that another church member, who once worked at Cabela’s, priced each firearm at $700, no haggling, for other members to purchase, presumably from her late husband’ s estate..
Photographs of Winchesters in the collection are provided, the Winchesters are about 100% in condition. Also more photographs of the OPs revolver, which suggests it’s either nearly 100% or a high quality restoration. It dates to 1931.
I will admit I have no problem with someone coming to terms with a widow or heir/kid/grandkid who decides doing their own research that their all original Winchester 1886 rifle with factory letter dripping with features and in 95% condition is worth $500. They did their research, they are happy with the terms, not a problem. Besides, half of these little old ladies are dripping with cash and it often goes to ungrateful heirs, most of which are anti 2A, anyways. Better you get it for $500 than it gets traded for a $50 Wal Nart gift card at a buyback.
What I do have a problem with is this woman hired or entrusted someone supposedly knowledgeable about firearms to assign values to her late husband’s collection. I would expect realistic, or at least reasonable, values to be assigned. This might even be a CRIMINAL matter, I guess it depends upon the credentials of the individual. Yes, Cabela’s employees really are that ignorant.
Comments?
November 7, 2015
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The Cabela’s buyers will negotiate a fair cash value for entire collections. These are wholesale prices and they will take into consideration a very significant overhead. If this fishing lure salesman assigned a $700 value to these firearms and didn’t offer to purchase them for that amount he is a fool two times over. I’d direct the widow to the regional buyer, if she is in my area I’ll put her in touch with him. If in another area I’ll find out who the buyer is and pass along his contact info. We owe it to a fellow firearms custodian to treat his heirs fairly, just as we expect the same when we go.
Mike
September 22, 2011
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TXGunNut said
The Cabela’s buyers will negotiate a fair cash value for entire collections. These are wholesale prices and they will take into consideration a very significant overhead. If this fishing lure salesman assigned a $700 value to these firearms and didn’t offer to purchase them for that amount he is a fool two times over. I’d direct the widow to the regional buyer, if she is in my area I’ll put her in touch with him. If in another area I’ll find out who the buyer is and pass along his contact info. We owe it to a fellow firearms custodian to treat his heirs fairly, just as we expect the same when we go.
Mike
These have already been sold, the ex Cabela’s employee assigned the values, church members could buy them.
I, too, thought the ex Cabela’s employee should have been bright enough to buy the whole collection at $700 each, but I guess he was that ignorant, plus that potentially could border upon the criminal, if not obviously unethical.
There’s a world of difference between the church lady coming to him, or him coming to her and he says I’ll give you $700 each and she says okay—I don’t have a problem with this. Versus what I do have a problem with—her saying she wants to sell them, what do you think they are realistically worth, and saying they are worth $700 each when the minimum any of them are actually worth at a price fair to both buyer and seller is $3000.
May 14, 2025
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This is a sad story. I agree if the employee didn’t buy the guns outright and consigned them for $700 to sell to his friends then this is criminal at worst and civilly negligent at best. I hope at the very least this was a widow who didn’t need the money to pay the rent!
I guess the lesson here for all of us is to make sure our spouses know the value of our guns or we have a friend we trust who she can turn to who does.
November 19, 2006
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They may be more to the circumstances here. It sounds like they didn’t just go to anyone on the street but rather went to fellow church members. Maybe she thought highly of her fellow members and a portion of it was more like a gift to people she knew. She may have known some of these people for 50 years or more. She might have specified church members only and didn’t want to extend that level of, “gift” to just anyone.
August 27, 2014
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Happens every day, none of my business
“If you can’t convince them, confuse them”
President Harry S. Truman
May 26, 2017
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Well said Ted
May 14, 2025
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I guess the point is what if this was your widow getting screwed over? Are you saying if you see a rape, robbery, assault or murder occurring you would just walk on and ignore it because it isn’t your business? However, I do agree with Steve there may be more to the story and can respect that position entirely.
March 6, 2011
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Some widows do not need the money. They want the guns gone. Now. My friend died recently and his wife had a group of us over to buy the guns immediately after he died. She took whatever money was offered. We did not bid against each other. I paid fair prices, other guys paid very little. Some guys very, very little. She got cash, the guns were gone, and everyone lived happily ever after.
We have a Cabelas here. The gun library manager said they pay 60% of what they can sell them for. From people I know who sold them guns, I think that is accurate.
March 31, 2009
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I’ve been given guns by widows twice that just wanted them gone. None worth $700. I traded one for a book and the other I gave to my nephew. But it is sad what happens all the time out there. That is one reason I have educated by wife and daughter on how to get rid of my collection. They also know where the estimated worth of each item is.
April 15, 2005
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Chuck said
I’ve been given guns by widows twice that just wanted them gone. None worth $700. I traded one for a book and the other I gave to my nephew. But it is sad what happens all the time out there. That is one reason I have educated by wife and daughter on how to get rid of my collection. They also know where the estimated worth of each item is.
Exactly! It is imperative that the person who created the collection fully document what he/she has, what they paid for each piece/item, what the estimated value is, and who to contact in the event that they need to be disposed of. Everything I have in my collection is fully documented in an Excel spreadsheet file on my computer and backed up on a thumb drive.
Bert
WACA Historian & Board of Director Member #6571L
March 6, 2011
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I have discussed this with my wife. I told her to take my guns, about 50, to Cabelas and take what they offer. Quick and simple. No gun selling headaches. You can use whatever store you have available that buys collections. I have not told my wife what my guns are worth. I do not want any hard feelings about my gun hobby if she sells at a loss. Guns have been my life long hobby, and I have enjoyed owning them. Whatever she gets for my guns, she can spend on whatever would bring her enjoyment, and think of me.
August 4, 2023
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I can see your rational, but Cabelas has only fast profits in mind. I took a revolver to them once not expecting to sell it, but trying to understand their process. They told me they will mark up 30%. While that seems fair, the fact is they can undervalue what you have significantly. They did in my case. I have also bought from them because they didn’t know what they were selling.
I would recommend you do what I did. Take them something to evaluate. You have no obligation to sell…see what they tell you. At the same time think about how they will treat your widow, knowing her motivation. Maybe tell them a fib, like you inherited what you brought them.
April 15, 2005
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wolfbait said
I have discussed this with my wife. I told her to take my guns, about 50, to Cabelas and take what they offer. Quick and simple. No gun selling headaches. You can use whatever store you have available that buys collections. I have not told my wife what my guns are worth. I do not want any hard feelings about my gun hobby if she sells at a loss. Guns have been my life long hobby, and I have enjoyed owning them. Whatever she gets for my guns, she can spend on whatever would bring her enjoyment, and think of me.
You don’t need to “tell her” while you are still breathing, but it is unwise to not to leave a document that can tell her not to sell a high-dollar collectable for $700. While my wife does not know (or thankfully care) exactly how much money my Single Shot rifle collection is worth, she knows to check my computer files for those answer in the event something should happen. Selling an $18K rifle for what would be pennies on the dollar is insane!
Bert
WACA Historian & Board of Director Member #6571L
March 6, 2011
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“Selling an $18K rifle for what would be pennies on the dollar is insane”
Cabelas, Scheels, or other reputable companies are not going to offer “pennies on the dollar”. My friend, terminally ill, did not want his wife to concern herself with his guns. Enough other things for her to worry about. A few of us bought some, the rest went to Cabelas at about 60%. I am not suggesting anyone use Cabelas, there are other options.
Best to dispose of your guns just before you croak. Otherwise have a trusted friend, if available, to assist with disposal. Make it easy on the heirs. Those options are not always available. To me guns are my hobby, and have brought me great enjoyment. I do not want to lay on my deathbed concerned and disappointed because my guns may be sold at a loss. I will have other more important things to think about when Judgement Day comes.
March 31, 2009
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wolfbait said
“Selling an $18K rifle for what would be pennies on the dollar is insane”
Cabelas, Scheels, or other reputable companies are not going to offer “pennies on the dollar”. My friend, terminally ill, did not want his wife to concern herself with his guns. Enough other things for her to worry about. A few of us bought some, the rest went to Cabelas at about 60%. I am not suggesting anyone use Cabelas, there are other options.
Best to dispose of your guns just before you croak. Otherwise have a trusted friend, if available, to assist with disposal. Make it easy on the heirs. Those options are not always available. To me guns are my hobby, and have brought me great enjoyment. I do not want to lay on my deathbed concerned and disappointed because my guns may be sold at a loss. I will have other more important things to think about when Judgement Day comes.
If you could tell me when I may die I’d like to know. In my case I want my wife to be prepared and then talk to the 2 auction houses near us to see who will give her the best deal. All guns may or may not be sold at a loss but in an auction you have bidders across the country bidding. The auction house will come to the house and make a list of the stuff, list an estimated price for each piece, agree on the sellers premium, etc. The auction house then assumes all other costs, insurance, and then take the stuff away. Believe it or not auction houses will negotiate the sellers premium on the larger collections and will put a reserve on the more expensive items. Do not use an auction house that wants all kinds of extras. They already have enough insurance, returns of items not sold, etc, etc etc. There are a few houses that have real low or no sellers premium for items that sell for over a certain price. Since my wife has the value of my collection she can also negotiate the sale of the whole lot minus the sellers premium. Either way the stuff is insured and gone and all she has to do is wait for the check. And by the way my daughter is very smart, tough and hard to deal with. No one will want to get sideways with her.
You can negotiate and sign an agreement with whomever before you die. That way your descendants just have to make 1 phone call.
You may want to have 2 agreements. Some auction houses don’t do well with the non gun stuff. It can be to your advantage to use a seller that deals with the ammo, tools, gun powder, books, etc. Small items cause a lot of work to inventory, take pictures and do descriptions to just get them in the catalog and online. The house return on these items is low and they often don’t put a lot of effort into selling these items.
April 15, 2005
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I have one of those too… and a very business savvy granddaughter!
And by the way my daughter is very smart, tough and hard to deal with. No one will want to get sideways with her.
WACA Historian & Board of Director Member #6571L
March 6, 2011
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For a large collection, auction houses are an option. You obviously have people who are auction wise, and know just how to deal with auctions. After a spouse dies, for most people, mourning and loss are more important than planning for selling guns. Many people just have a few guns. My friend’s collection, 500 guns, went to auction last year. 15% seller fee, 20% buyer fee. For the buyer, shipping and packing fees, and sales tax. Consequently many of the guns, because of the seller and buyer costs, did not net what they should have. Plus, there was a several month wait for the auction, and a wait for payment. In addition, he received an IRS tax form from the auction house.
In the situation the OP is describing, the most common scenario, simplicity may be the most satisfying way of disposing of the guns. It is for me, perhaps not for you.
March 31, 2009
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wolfbait said
For a large collection, auction houses are an option. You obviously have people who are auction wise, and know just how to deal with auctions. After a spouse dies, for most people, mourning and loss are more important than planning for selling guns. Many people just have a few guns. My friend’s collection, 500 guns, went to auction last year. 15% seller fee, 20% buyer fee. For the buyer, shipping and packing fees, and sales tax. Consequently many of the guns, because of the seller and buyer costs, did not net what they should have. Plus, there was a several month wait for the auction, and a wait for payment. In addition, he received an IRS tax form from the auction house.
In the situation the OP is describing, the most common scenario, simplicity may be the most satisfying way of disposing of the guns. It is for me, perhaps not for you.
You are absolutely correct. That is why pre planning is a must whichever way you choose to go. The IRS is hard to avoid nowadays. That is a question you need to talk about with whomever sells the guns for you and your tax advisor. If your guns sell for less than what you paid for them or their current value whichever is relevant, I don’t think the IRS gets anything? Hopefully the sellers don’t need the money so badly that they are willing to loose money by not allowing the process to take it’s course? You can also put guns on consignment. But again an agreement must be in place to show what the selling party gets, reserves, IRS and such.
I completely agree with Bert, the collector is responsible for their actions and needs to get this figured out so the family doesn’t have to.
March 6, 2011
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My wife completely supports my gun hobby, has for 60 years. Other than that she has no interest in my guns. That is the common situation with my friends also. Unless you have a real devoted friend, other people will not want to get involved in your business. Or they may be like the friend helper the OP mentioned.
When I die, my wife will take my guns to Cabelas or Scheels and walk out with a check. No IRS involvement. No constant contact with a gun shop selling them on consignment individually. No dealing with an auction house and negotiating terms (you can do this in advance, but the auction house can renege for one reason or another. So, you going to hire a lawyer?). No waiting many months for the auction and payment.
It’s a situation we are all going to have to deal with. Do you have kids who want all your guns? You are lucky. My guns are going to be disposed otherwise. I am going to make it easy on my wife, and not have her say in reflection “those darn guns”.
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