The Internet Effect

[rick983]

I am 66 years old and have collected WW2 firearms and militaria for 45 years plus. I consider myself a student of these items and I always buy the books before I buy the item. Myself and a couple of friends set up at a local show and have for many years. I put things out to sell but really like to buy things for me. Up until just a few years ago, people would come up to me and ask about their guns and I was happy to tell them. And of course they want an appraisal. I am very honest with them and offer a fair price. However, recently I'm seeing people show up who have been on the internet and without understanding what they have, see prices that are totally unrealistic. When I tell them the truth, they look at me like I'm a crook. As an example, a man brought in a common WW2 Luger pistol someone in his family had brought back. It was decent, not great and I told him retail was around $1300 and I could give him $1000 cash. He said he had seen them selling for $3000 and more on the internet and that's what he wanted. I tried to explain that theirs was probably a scarce variation that was worth more. Also, remember that what you ask and what you get for guns can be quite different. To sum it up, I'm buying a lot less guns from the public and I'm seeing the same guys hauling the same guns around every show trying to get their fantasy price. So I say it again, a little knowledge can be dangerous.

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[Sarge]

Since the internet says they are so valuable ask them why they don't sell their item on the internet???
I have on more than one occasion told someone who came up with that sort of BS that they must not be very smart, if they can sell their $500 item for $900 on the internet, to be trying to sell it at this gun show!!!
Oh well!
Sarge

[Seaspriter]

Sarge 13 is right. The problem you are facing is very real and every amateur smart alec armed with superficial knowledge thinks he knows more that an expert. This type of arrogance will drive you nuts.

As soon as the smart alec's expectations are dashed when he receives the harsh reality that he has an "ugly baby," you have, by no fault of your own, unwittingly demeaned him. He is faced with the dilemma to distrust his own judgment or distrust you. Guess who wins that one!

The fundamental problem is that you are getting your role as "appraiser" intertwined with your role as "dealer/buyer." This puts you in the cross-hairs of distrust. Here's how you might handle this:

1) The first thing is to evaluate his expectations and establish your role. Ask the seller if he is asking for an "appraisal" or a "sale."
2) If he says "appraisal" then give him the high and low range based on the 1-5 grade scale and the uniqueness of that particular gun. IOW, educate him. Have a copy of Flayderman's handy or Blue Book of Gun Values on your laptop as a means of validating your expertise and your depth of understanding of the nuances of gun values. These other sources of value help validate your authority.
3) Be sure to balance the good points of his gun fairly against the problematic issues. Balanced evaluation is essential.
4) After giving him a range of numbers (never one absolute value) then insist that he should go to 2-3 other dealers at the show and get their offers. IOW, create an auction environment (a version of Sarge's advice). Tell him you won't make an offer until he gets 2-3 other bids. This establishes you objectivity and confidence in your numbers. The seller will now understand that you can be trusted because you are not trying to trick him into a low-ball deal.
5) After he has gotten several bids from others, then have him come back to you to negotiate. This way the seller gets a better idea from others what is realistic, rather than having you be the only one to disappoint him. When negotiating, you can offer at the low end of the range you suggested, he will probably respond at the high end, and you can compromise in the middle. Remember, other items can be bartered in the "deal," such as a credit toward another gun you are selling, etc.

The objective here is: you want to build trust by showing that you are FAIR, ACCOUNTABLE, RESPECTFUL, TRUSTWORTHY, HONEST, EXPERIENCED, SECURE, & TRANSPARENT. Anyone who can demonstrate these values will have a very high likelihood of being trusted (except by greedy or dishonest people, who you don't want anyway!).

Robert

[browningautorifle]

Sounds like you've done a bit of this Robert.

[ireload2]

As a single buyer you are not likely to ever offer the best deal compared to what a seller might actually get on the net. That market is huge and there are often buyers that are not price sensitive. I am sure you only buy deals that you will not lose money on. The rest of the world on the internet is not always so price sensitive. Those running around with inflated prices will learn that they have to have a lot of patience and understand the market to get the best price. Otherwise they will waste everyone's time.

[rick983]

Ireload2 says "I am sure you only buy deals that you will not lose money on." I wish that were true but like everybody I have weaknesses and when an item pops up I REALLY like, I will overpay. Gosh, I'm so weak around Lugers !!