Minimalizing the Gun Collection

[scout5]

When i retire I'm going to go minimal. In my case minimal will be about ten. That will cover all my hunting, self defense, and home defense needs.

 

[2tonic]

How is it that your wives have any idea how many guns you have?
This seems like a violation of the INGO code of conduct.

 

[pmbiker]

How is it that your wives have any idea how many guns you have?
This seems like a violation of the INGO code of conduct.

Wives?!? I had one of those once.... decided to minimize THAT collection.

 

[Vietnam1965]

Since I don't need the money.... I never sell things that are paid off. You can have money in the bank or possessions if you so choose. Possessions are more interesting!

 

[bwframe]

Since I don't need the money.... I never sell things that are paid off. You can have money in the bank or possessions if you so choose. Possessions are more interesting!

Something to keep in mind, if it fits your situation. Firearms as a financial security investment may or may not "cash out" as you think they might.

I have always heard the old saying "you'll never lose money on guns." That has not been true for me anyway.

Only in recent years, timed with a panicked market, was I able to sell some guns and related things at a break even or better price.

 

[Michigan Slim]

My wife said I had too many one day when she saw my safe. I told her she was correct and I should sell the whole row that belonged to her grandpa. Haven't heard anything since.

 

[x10]

They are tools, they have a specific job, get the best tool for the job (aka competition), par it down like that, if it's a firearm you shoot a lot have a backup,

but don't compromise your ability to do a job because you want to slim down, find a way to store ammo better, or gear better, communize storage,

smarter, not harder

 

[BrockStrader22]

I've been considering "consolidating" calibers lately. With all the ammo craziness over the last 10 years it would be a lot simpler to just stock up on a few calibers and have a gun for each function in that caliber. I think the first move will be replacing .243 with .223, there isn't much a .243 can do that a .223 can't, the .223 ammo is cheaper and thanks to the AR platform options are endless.

 

[bwframe]

I've been considering "consolidating" calibers lately. With all the ammo craziness over the last 10 years it would be a lot simpler to just stock up on a few calibers and have a gun for each function in that caliber. I think the first move will be replacing .243 with .223, there isn't much a .243 can do that a .223 can't, the .223 ammo is cheaper and thanks to the AR platform options are endless.

Smart move!

Keep us in the loop when you are ready to toss out the leftover .243 odds and ends.

 

[MHornbrook]

Now before you get out the torches and pitchforks, hear me out…


My wife is into minimalism, and when she first got big into it, I told her I supported it but that it would never apply to the gun collection. Ever.

Yet over time, I’ve come to the belief that it truly is better to have a few really quality guns that one knows inside and out, than to have a large “collection.” If this was the car world, I’m trying to be more of a race car driver than a car collector.

So I have a few more in the classifieds, and a couple dream guns I’m hoping to make into reality.

How about you guys? Never sell guns? Fewer is better? Anything less than 100 is critically short?

I have sold guns in the past and now I have totally regretted doing so. Once I buy a gun I keep it unless giving to son or daughter,

 

[bw210]

In 30 years of firearm ownership my mentality has gone from quantity to quality. Now I enjoy higher end production stuff to very high rent production and customs because that is what I enjoy using. I have continuously sold off guns I didn't shoot to help afford the ones I do.

 

[92FSTech]

Part of me says I can only shoot one at a time, so what's the point of having a safe full? But another part says there are so many different guns suited to so many different purposes. I try to have at least a practical reason for each one I own, but I've not always been successful at that. Usually, though, if I do end up selling something, it's because I already have something else to fill that same role that I like better.

As a reloader, I also tend to go down the caliber rabbit-hole. Must have a handgun/carbine combo in each caliber I load for, so they can share ammo...

And different barrel lengths...gotta have a snubby for deep concealment, a 4" for belt carry, and a 6"+ for that long sight radius on the range...

And then there's rare stuff that isn't made anymore, and you have to have a spare in case something breaks...

And this is why I have capacity issues in my safe!

 

[88E30M50]

I’m going through a similar thing. I’m letting go of mediocrity and keeping the quality. My mantra in life is that if something does not enable an experience or a relationship, it’s just stuff that can be eliminated. The Glocks are mostly gone but I did keep one. Cheap guns have been sold and replaced with fewer, but better guns.

If I don’t like shooting it, I can let it go. Buying a gun, having fun with it and then letting it go to enable another gun buy is more fun than accumulating stuff I realize I don’t like that much.

I can fully understand the OP’s thought of having fewer, but better guns instead of having many lessor guns. I was a collector of mediocrity for too many years.

 

[Hookeye]

I only keep what I use.
Never been a collector.
Just put critters in the freezer.

Dont need more stuff. Need more time and health to get out and use what little I have.

Upgrade vehicle, maybe get a camper.
Hunt out of state. Expensive but the clock is ticking.

 

[Notalentbum]

I did the caliber consolidation a few years ago. I have a fair stock of reloading supply for all calibers except 22lr. I have volume for the 22lr pieces.
I have probably 6-8 guns I no longer really shoot and wouldn’t hurt to sell but just haven’t wanted to put out the effort to sell them. None of them are cool or high end stuff so not much $$$ involved.

 

[Moko219]

Now before you get out the torches and pitchforks, hear me out…


My wife is into minimalism, and when she first got big into it, I told her I supported it but that it would never apply to the gun collection. Ever.

Yet over time, I’ve come to the belief that it truly is better to have a few really quality guns that one knows inside and out, than to have a large “collection.” If this was the car world, I’m trying to be more of a race car driver than a car collector.

So I have a few more in the classifieds, and a couple dream guns I’m hoping to make into reality.

How about you guys? Never sell guns? Fewer is better? Anything less than 100 is critically short?

I've always been told be aware of people with one rifle because they know it like the back of their hand.

 

[NHT3]

about every gun I own has a role, even if that role is as a duplicate or backup gun.

I like the way you think

 

[223 Gunner]

Since I don't need the money.... I never sell things that are paid off. You can have money in the bank or possessions if you so choose. Possessions are more interesting!

I have both, and it's a good feeling.

 

[223 Gunner]

Something to keep in mind, if it fits your situation. Firearms as a financial security investment may or may not "cash out" as you think they might.

I have always heard the old saying "you'll never lose money on guns." That has not been true for me anyway.

Only in recent years, timed with a panicked market, was I able to sell some guns and related things at a break even or better price.

I agree with this. I started trading guns, coins, AFX cars with my best friend when I was a kid (16) or so.
I am now 56. I think the younger generation of gun owners are used to taking a loss on items, like video games.
In fact they are so used to it, that if they buy a gun and decide to sell it back to a shop at a loss to get something else, they are okay with it.
I think most of them are not aware that in our great State you can sell them in the private sector like a car or anything else.
Over the years I would say I am ahead of the game, as I try my best to have the correct timing when I do sell.
For the most part I have made a little money and broken even. I have lost only a handful of times and figured the times I didn't lose made up for those that I did.

And for common everyday guns like Glocks and the like. Unless you somehow get one cheap, you will probably lose a little when you go to sell it. But you won't take a bath on it, like other hobbies.

You just have to do what fits your own unique situation.
Like I said somewhere up thread, right now I have been selling non firearm stuff on ebay.
Stuff I don't think anyone on here is really interested in, if so I would list it here.

And with this new tax law that passed, ebay, gunbroker, and the like are forced to keep track of your sales.
Anything over $600 dollars in "profit" in one year is now "income" and as a seller you will get a 1099-K to report it as such.
So I will have to keep track of what I paid for items that I sell, what they sell for and if there is a profit.

Part of Biden's plan to pay for this giant mess he has created.

 

[jy951]

And with this new tax law that passed, ebay, gunbroker, and the like are forced to keep track of your sales.
Anything over $600 dollars in "profit" in one year is now "income" and as a seller you will get a 1099-K to report it as such.
So I will have to keep track of what I paid for items that I sell, what they sell for and if there is a profit.

Part of Biden's plan to pay for this giant mess he has created.
[/QUOTE]

There is no way for the auction companies to know what your "profit" is on an item. They will issue a 1099 if you gross sales are above the threshold regardless of your net profit. When you report, the amount subject to tax will most likely be less than your gross sales amount on the 1099.