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Thompson M1A1 Evaluation - Need Advice


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Hey guys, I am new to class 3 weapons. I just had a friend pass away, and his wife wants to get rid of their M1A1 that is registered to her. I cant find much in the way of finding the correctness of this weapon. IE finish, part numbers, stock numbers exc. Basically anything that would tell me if it was rearsenaled, or refinished. It is a pretty nice looking gun (at lease the few times I handled it).

 

I offered her $18,000 for it, which seems fair, as I see a bunch listed for $19,000+ that are all still for sale. This is something that I plan on hanging on to for some time, so I am hoping to have a good investment, and not just a fun shooter.

 

Any help would be greatly appreciated.

 

PS Any advice on person to person class 3 transfers? She is 76, so I wont be giving her the $ up front in case something happens to her in the time it takes to get the stamp. I am planning on going the trust route, which will take time by itself. I am really concerned that she will get sick of waiting for my stamp and sell it to a dealer for cheap. I would guess they would only offer 12-15 if they sell them for $19,000. Then I am out the stamp cost and the trust fees.

 

 

 

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Many transfers are done 50/50. You give the seller 50% up front when the paperwork is submitted and the remainder upon Form4 approval and transfer of the actual gun. In your case I would insist upon a detailed sales invoice showing the terms of the sale and that the 50% or whatever was already paid with the balance remaining.

If you go that route, and something happens to her, the estate is obligated to complete the sale when the Form4 is approved.

 

If you are uneasy about things, you might take the lower and all accessories up front when you pay the 50%, leaving only a barrelled receiver to be turned over later. For some reason, sellers seem more eager to get rid of a bare receiver later on.

 

Another possibility is to have a reputable dealer act as an escrow agent. You pay her 100% up front and the dealer locks it away until the Form4 is approved. That may entail another transfer fee as well as a fee to the dealer.

 

For an original M1A1 that's a decent price, regardless of other factors.

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The gun is 4 hours away from me at her place, and I havent gotten a good look at it for years. If I remember correctly it said Auto Ordinance on the side of the reciever. Which with my limited knowledge would make it either an AO or Savage. I was getting my values off of Ruben's page and there seem to be quite a few M1A1's in the $19,995 price range that are all still for sale currently. She keeps getting random people that tell her that if it is full auto it must be worth at least $45k (1921 mint values). It is kind of a back and forth as to whether I am getting it or not.

 

With something that is that valuable and takes that long to get the form 4 back it is a pain in the butt. I dont want to be out the $400 for the form and trust if she changes her mind. The taking the lower idea is a good one, but she would never go for it. I like the dealer idea other than extra paperwork and fees, but she could still change her mind, or sell it to them for less.

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Clear the air and push the BS out of the way. Go get a good spread of detailed pictures of the gun etc. BOTH of you arrange and send a letter package with pictures to multiple reputable dealer( several on this board), requesting a value and why they came to that value conclusion. Some of those dealers of which some here can provide a list. This also my cost you a small fee but some here may do it for nothing.

That way she will know she isn't being duped and at the same time squash all the 45K talk. You have a hill to climb if you really want that gun.

Good Luck

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Call the owner ask her to read what it says on the RH side of the receiver. It will say West Hurley New York or Bridgeport Connecticut. Then read what is on the left side of the receiver. That will tell you the SN# and whether it is an M1 or M1A1. From there you can get an idea of value assuming you already know its condition. Spend the extra money as already suggested and have a local sot handle it so it wont be sitting for 6months with the seller. I would take a pass if its a WH unless you can get a great deal on it. Im thinking it will be hard to explain to the owner what the difference is between a GI gun and the WH. Just my 2cents Edited by Petroleum 1
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either you paid a fair amount for a west hurley or you got a bargain on a WW2 m1a1.....if it says West Hurley on the side you will know what you have

 

it would be rare to find a m1a1 that was not arsenal redone....if its an original arsenal refinish its a plus...matching upper/lower a big plus....

 

most thompsons in general are a mix/match of parts....the more correct it is the better...the m1a1 isnt as fussy as a 1928....mix/match doesnt really matter as much

 

for anyone here to give you any pricing idea's you'd need 5-20 nice pictures to share....

 

if i was to pay in full i would take the whole gun with me minus the receiver....you own it, so take it.....50/50 is common...ive done deals both ways...i often use paid in full to ask for a slightly lower price....

 

congrats on buying a thompson.......now to find out what you got!!!....

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I for one would drive the four hours to see it in person, that way all the information you need is right in front of you. You can take all the detailed pictures of it and get them in front of the experts here on this board.

Four hours isn't that far away for this big of an investment.

Just my 2 cents

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I for one would drive the four hours to see it in person, that way all the information you need is right in front of you. You can take all the detailed pictures of it and get them in front of the experts here on this board.

Four hours isn't that far away for this big of an investment.

Just my 2 cents

Still worth a phone call imo...if Its a WH save yourself the drive. If it is a AO Bridgeport by all means get over there and make the deal!! Edited by Petroleum 1
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I would not do any purchase without a signed contract, which, along with all the other details, instructs her executor how to complete the transfer, should that become necessary.

I have also always received everything that isn't the barreled receiver, immediately after full payment.

In the case of using a local SOT to hold the gun, I'm aware of one situation; While waiting for approval, a SOT stored the item in a locked hard case locked in chains, that was also chained to a support post in the basement of his shop. Only the owner had keys to the locks. He said ATF told him this was acceptable. It was considered a rented secure storage, just like a safe deposit box.

 

 

 

(Besides, if it is a WH, and someone steals it, they'll bring it back as soon as they realize what they have. :lol: )

Edited by mnshooter
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Many transfers are done 50/50. You give the seller 50% up front when the paperwork is submitted and the remainder upon Form4 approval and transfer of the actual gun. In your case I would insist upon a detailed sales invoice showing the terms of the sale and that the 50% or whatever was already paid with the balance remaining.

If you go that route, and something happens to her, the estate is obligated to complete the sale when the Form4 is approved.

 

If you are uneasy about things, you might take the lower and all accessories up front when you pay the 50%, leaving only a barrelled receiver to be turned over later. For some reason, sellers seem more eager to get rid of a bare receiver later on.

 

Another possibility is to have a reputable dealer act as an escrow agent. You pay her 100% up front and the dealer locks it away until the Form4 is approved. That may entail another transfer fee as well as a fee to the dealer.

 

For an original M1A1 that's a decent price, regardless of other factors.

I dont get how the dealer can be of help. Wont it take just as long to get it Transfered to the dealer on a form 4 as it would to just transfer to the buyer?

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For some reason form 4s to SOTs takes a shorter amount of time than to non SOTs

 

Even the Gubmint knows which side of the bread has the butter.

 

 

To the OP if its a real M1A1 in very nice condition even 20 is reasonable.

Put yourself in her shoes; she is terrified someone is going to take advantage of her. Dont be that guy.

Do whatever you can to demonstrate to her you are not taking advantage of her. Tell her (if its mint) its worth 24 or 25. A reasonable discount should be expected for your effort and immediacy.

Offer her more than a dealer hence the 20K AND be her advocate / take her by the hand through the process.

Edited by lightguy
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For some reason form 4s to SOTs takes a shorter amount of time than to non SOTs

I sent a Form 4 for a transfer to a dealer back in October, still not approved.

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For some reason form 4s to SOTs takes a shorter amount of time than to non SOTs

I sent a Form 4 for a transfer to a dealer back in October, still not approved.
I had an F4 to F4 transfer in oct and it took 3 months to get to my in state sot. My own F4 didnt get submitted until the end of Jan. I think if the gun is on a F3 at the dealer the transfer time is much shorter. Maybe someone can clarify that. Edited by Petroleum 1
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