Firearms Auctions/Estate Planning

[trimman83]

I've had ten legitimate near-death experiences in my time. During my last, on a ventilator, I had my wife bring me a pad and pen so I could list my firearms and other weapons for distribution as an addendum to my Will. My Will has a provision for this attachment. I have family, friends, and even casual acquaintances that would receive one or more of these weapons upon my death.

Does INGO, as a family, have a formal outlet or annual, or semiannual, auction for firearms and collections of firearms? If not, why not? I'm looking at it more in the situation of a Widow being left with a firearms collection to have to deal with. Some of us will die with no warning, and some of us may see it coming. But why not a fair auction market for any of us to immediately thin or eliminate guns or entire collections.

I plan to Look into local auction houses for advanced planning. I haven't yet. The last online auction I participated in, as a buyer, had an 18% buyers premium, then 7% sales tax. I want to know what the seller gave up in consigners commission. Maybe it was flat-rate per hammer drop? Maybe it was 25%, 30%, 40%? That all takes a bite out of a family in need.

Any thoughts or ideas?

 

[MrSmitty]

If you adopt me (or don't) you can leave me one.....Who am I kidding, you'll more than likely out live me.....
Is this inappropriate?

 

[D K]

Last experience I had in auctioning guns from an estate was that the seller’s premium was 15-20%. Pretty steep, I thought, but the estate was in AZ, and our choices were few, and our time dwindling.

You have an executor named, right? If they’re not 2A-savvy, name a co-executor who is.

 

[Denny347]

I'm looking to sell off mine now. No one wants them when I pass and I have no time/place to shoot them. No point in keeping them. Hard to sell as a single lot. They are easier to sell piece by piece, but that is a PITA.

 

[trimman83]

I'm looking to sell off mine now. No one wants them when I pass and I have no time/place to shoot them. No point in keeping them. Hard to sell as a single lot. They are easier to sell piece by piece, but that is a PITA.

I know a guy who "helped out" a widow by buying all of her husband's remaining collection. I feel both parties were satisfied with her having no longer to deal with it, and him getting a collection cheap. But I don't think this is the best way to move a collection. I need to have a better solution, and I'm not alone. Some reading this are in the same situation, they just don't know it yet.

 

[Tactically Fat]

I always feel that the "estate" always gets hosed when/if things go to auction.

 

[lrdudley]

Tom Gresham, Gun Talk Radio, has always spoken highly of Durys Guns. He used their services before they become an occasional sponsor.
https://durysguns.com/

 

[Mij]

I know a guy who "helped out" a widow by buying all of her husband's remaining collection. I feel both parties were satisfied with her having no longer to deal with it, and him getting a collection cheap. But I don't think this is the best way to move a collection. I need to have a better solution, and I'm not alone. Some reading this are in the same situation, they just don't know it yet.

You nailed my situation exactly, been accumulating my whole life just for this reason. Want to diversify dollars for wife’s wellbeing when I’m gone. Will follow this thread. Thanks by the way.

 

[billybob44]

PM inbound on this topic..Bill.

 

[COOPADUP]

I have only one son and have updated my will giving him all items within my safe via an itemized list.
Wife has no interest whatsoever, so he is going to have a more robust inventory upon my passing.

 

[Tactically Fat]

If y'all are looking for someone to inherit your guns, I'll bite the proverbial bullet and do that for you.

 

[trimman83]

If y'all are looking for someone to inherit your guns, I'll bite the proverbial bullet and do that for you.

Laugh all you want Fatman(your words not mine )There will be guys on here caught with their pants down, so to speak. We never know when death will come. I'm just trying to look out for my survivors and those of my brother INGO's.

 

[Leadeye]

I keep a list of stuff to sell on a flash drive along with values and names of people who might be interested for the gardener. Like denny 347 said my sons will want a few items, but most of the stuff will need to be sold.

At this point in time I'm still shooting them, for now.

 

[ed1838]

This is something we should think about. Had widow maker heart attack 6 months ago. If I would have not made it have no idea what wife and family would done with my stuff. Sure some sold and given away.

 

[bigretic]

We go through this sometimes at the gun club. Typically it is only because someone knows the person well enough that the wife reaches out. A list gets made and the items are posted with fair (non-auction) pricing and it is posted for the membership and the sales move though a single point of contact so the wife is not overwhelmed.

 

[nonobaddog]

I find myself in this position as well. I have been collecting quite a while and want to sell a bunch so I don't dump everything on my only son all at once.
He already has his guns that make him happy, hunting rifles, shotguns and several pistols and doesn't really have a need for a hundred more.
I have rarely sold anything, nothing in the last 30 years, so I need to find out the best way to do this stuff.

 

[Mij]

I find myself in this position as well. I have been collecting quite a while and want to sell a bunch so I don't dump everything on my only son all at once.
He already has his guns that make him happy, hunting rifles, shotguns and several pistols and doesn't really have a need for a hundred more.
I have rarely sold anything, nothing in the last 30 years, so I need to find out the best way to do this stuff.

As stated upthread, I’m watching and hoping to learn more than I have already. Gun club, don’t even know what that is. I’m a country guy. To me a gun club is a rifle with no ammo.

 

[Mij]

We go through this sometimes at the gun club. Typically it is only because someone knows the person well enough that the wife reaches out. A list gets made and the items are posted with fair (non-auction) pricing and it is posted for the membership and the sales move though a single point of contact so the wife is not overwhelmed.

Posted? Posted where? Do you know the recipients, buyers? What makes this better than an estate auction?

 

[bigretic]

Posted? Posted where? Do you know the recipients, buyers? What makes this better than an estate auction?

Internally. Yes, that means it is club members or their friends purchasing the items. I'm not saying it's better, i'm just saying we have done this in the past. I'm guessing the net on the items is about the same since there is no commission. It seems to be less stressful for the spouse also.