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Old January 18, 2018, 13:24   #15
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hueyville's Avatar
FALaholic #: 74557
Join Date: Aug 2014
Location: Foothills of the Blueridge Mountains
Posts: 7,355
I buy a lot of guns and sell a few and even give some away. My personal rule is once I buy a gun and log it into my personal records it is not sold for at least a full year. During 94 Bush Ban and Sandy Hook was selling more than usual but most had been in my collection for a minimum of five years and value exceeded my desire to own anymore. I would not want to show a trend or tendency to buy and resell several guns per year that were owned for a short period of time and have BATFE even have grounds to interpret that I am flipping guns for profit.

I sold a lot of AR's, SKS's, and AK's during Sandy Hook. All of the combloc rifles had owned over 20 years and all were sold through my local FFL no face to face sales. Rules are written in way there is a lot of room to accuse someone of being in the business of selling guns without a license. I know two guys locally that rent tables at gun shows to sell personal guns and buy as many as sell. Expect both of them to be looking for a plea bargain at some point.

During initial years of Bush Ban I had a lot of rifles had not owned long enough to feel comfortable selling. I spent first three years of ban selling magazines letting rifles age as decided which I was more partial towards and wanted to keep and which I was not fond of this willing to sell. Another reason I buy lots of AR lowers and keep buying.

Keep track of all and when pull a lower for a build its usually been in the lower vault aging for at least three years. Thus if build and it's not to my taste when finished but someone else falls in love with it am not selling a rifle built on lower purchased recently. Have three L1a1 uppers and just bought a fourth. The kit am assembling now while intend to keep a long time will have been on books three years when finished. Upper purchased this week do not even have a kit for it yet. Past 30 years have averaged selling one gun for every four to five purchased. That's just purging less desirable firearms from my collection as upgrade. If make a few bucks on a single unit still spending more going out than coming in by large factor.

If decide to go in gun business I will form an LLC, get an FFL, liability insurance and work with my Firearms Trust lawyer who specializes in firearms to stay totally legal and let CPA's handle the books. When most violations say minimum 10 years in prison and $10,000 fine absolutely do not want to have an issue with BATFE. Is making $1,000 on a rifle worth a $10,000 fine plus jail and loss of right to own guns in the future? Be careful!
A time will come when people will not listen to accurate teachings. Instead, they will follow their own desires and surround themselves with teachers who tell them what they want to hear. 2 Timothy 4:3 G.W.T.
"If it is worth doing's worth doing it a few more times to get it right." Stimpsonjcat
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