tnhog Posted February 4, 2021 Report Share Posted February 4, 2021 Does the seller get money up front then start transfer? Partial payment upfront? Link to comment Share on other sites More sharing options...
StrangeRanger Posted February 4, 2021 Report Share Posted February 4, 2021 Depends on what you can negotiate. 50/50 deals are fairly common. Link to comment Share on other sites More sharing options...
huggytree Posted February 4, 2021 Report Share Posted February 4, 2021 I dont do 50/50. I have bought a few that way in the past though. Either you trust them or you dont imo. As a seller I worry the stamp would come and the guy has no money. Thats why I wont. Call the seller. Talk for 30-60 minutes about guns. Your gut should tell you yes or no. Ive never lost $1 on anything NfaIve transferred 25x I think now Link to comment Share on other sites More sharing options...
tnhog Posted February 4, 2021 Author Report Share Posted February 4, 2021 The guy purchasing the gun is a class III dealer (Ruben Mendola) Link to comment Share on other sites More sharing options...
StrangeRanger Posted February 4, 2021 Report Share Posted February 4, 2021 Money up front. Link to comment Share on other sites More sharing options...
Black River Militaria CII Posted February 4, 2021 Report Share Posted February 4, 2021 I've had a working relationship with Ruben for a few years repairing his MGs and he is certainly honest and upfront. Regardless of how you chose to handle the transaction Ruben will treat you right.All up front or 50/50 and other arrangements have worked for many, many years. There are anomalies now and then but 99% + of these transactions are completed to the satisfaction of the participants. FWIW Link to comment Share on other sites More sharing options...
Tiz Posted February 4, 2021 Report Share Posted February 4, 2021 !00% up front. Link to comment Share on other sites More sharing options...
b_san Posted February 5, 2021 Report Share Posted February 5, 2021 The guy purchasing the gun is a class III dealer (Ruben Mendola)Are you in desperate need of money? You're likely only getting 60% of market value going that route. Link to comment Share on other sites More sharing options...
MG08 Posted February 5, 2021 Report Share Posted February 5, 2021 In your case described you will get $$ up front and transfer should go pretty fast. I have done both types of deals over the years and only had one problem as I recall. I typically tell the buyer if a 50/50 deal there will be a "restocking fee " we negotiate - 10% is typical, but we may settle on a $ value for hi value stuff like a 21 colt where 10% is a big number. For truly hardship cases I evaluate. One thing I generally will not do is send parts to a rare MG without full payment. I have had guys want to do a 50/50 deal and have me send all but the receiver - no way in hell on stuff like a 601 AR or a Thompson where replacement parts are unobtanium. I might on a M11/9. depends on how much I am making on the gun. Link to comment Share on other sites More sharing options...
bug Posted February 5, 2021 Report Share Posted February 5, 2021 The guy purchasing the gun is a class III dealer (Ruben Mendola)Are you in desperate need of money? You're likely only getting 60% of market value going that route. 60%? C'mon... Link to comment Share on other sites More sharing options...
huggytree Posted February 5, 2021 Report Share Posted February 5, 2021 Ive bought 2 guns 50/50 where the seller told me if I backed out he keeps the full 50%. . Link to comment Share on other sites More sharing options...
heavy artillery Posted February 5, 2021 Report Share Posted February 5, 2021 I would have anticipated Ruben to offer 100% up front to complete the purchase and initiate the transfer. He and other dealers that frequently buy collections usually offer the full amount. That said, I've done multiple deals using both approaches. On my last few purchases, one was a 50/50 with an individual and two were 100% up front from dealers. I generally expect to pay 100% up front unless someone specifically states they will do a 50/50 deal. In those cases, I tend to go with 50/50 as I feel it's encouragement for the seller to not add wear/tear on the interim (I expect a seller not to shoot the weapon once I've purchased it - just leave it in their safe while pending transfer) plus paying less each time is kind of a psychological encouragement that can push me over the edge toward closing the deal. As others have noted, it helps to have some level of trust when doing a 50/50 deal and I would trust Ruben either way he offered to pay. Link to comment Share on other sites More sharing options...
maxfaxdude Posted February 5, 2021 Report Share Posted February 5, 2021 Dozens of machinegun deals over the year...most were 100% up front. But I have done several 50/50 deals as well. The problem with a 50/50 deal is what happens if the guy doesn't come up with other 50%? Do you: 1) Keep the 50%.2) Give back most of the 50% and charge a "restocking fee" -- typically 10%.3) Give back all of the money For me, it's on a case by case basis and depends on the situation at hand. Additionally, I will comment that I had an unpleasant machinegun buying experience with Ruben Mendiola. Link to comment Share on other sites More sharing options...
Got Uzi Posted February 5, 2021 Report Share Posted February 5, 2021 If its a deal with private buyers/sellers it can be 50-50 and have a contract written/signed designating the payment details. If someone like Ruben is buying then 100% up front and you will most likely see 80%-85% of the market value. You could market the gun yourself and make more if you wanted. Ive bought guns 50-50, 100% and hell I bought a $15,000 belt fed with 10% down and a handshake. Its all based on your reputation, word, and how well known you are in the NFA hobby. Just my $0.02 1 Link to comment Share on other sites More sharing options...
RoscoeTurner Posted February 5, 2021 Report Share Posted February 5, 2021 Its all based on your reputation, word, and how well known you are in the NFA hobby. Just my $0.02 Exactly and I might add that your internet reputation doesn't count for squat, it is your actual reputation and history in the hobby that counts. Link to comment Share on other sites More sharing options...
83Baron Posted February 5, 2021 Report Share Posted February 5, 2021 (edited) Thats the beauty of this forum. With every member on here you could essentially be on cruise control through any transaction since there is likely some history with one or more members. If you were concerned about a potential buyer having the funds then you should probably keep the ad up, or ask them to send you a proof of funds letter from their bank, etc. Ive had to do that with a couple of the smaller auctions before bidding on some high dollar items. The overall point being that, details aside, you should have a pretty good idea about whether the transaction would be completed after a few conversations with the other party. Edited February 5, 2021 by 83Baron Link to comment Share on other sites More sharing options...
Bridgeport28A1 Posted February 5, 2021 Report Share Posted February 5, 2021 Does the seller get money up front then start transfer? Partial payment upfront? What machinegun are you selling? Link to comment Share on other sites More sharing options...
Ryo Posted February 17, 2021 Report Share Posted February 17, 2021 If I'm selling want 100%If I'm buying I could go either way. Ruben you are likely safe. My last one I bought was a 50/50 and it went fine. Link to comment Share on other sites More sharing options...
DZelenka Posted February 17, 2021 Report Share Posted February 17, 2021 (edited) I' bought several MGs with as little as $100 down. Sometimes 25%, sometimes 50%, sometimes 100%. It just depends on what is negotiated. Unless I am buying from another dealer, I always have a contract. Edited February 17, 2021 by DZelenka Link to comment Share on other sites More sharing options...
Mike Hammer Posted February 17, 2021 Report Share Posted February 17, 2021 Does anyone have a good example of a good contract between buyer and seller of a machine gun? Link to comment Share on other sites More sharing options...
Got Uzi Posted February 18, 2021 Report Share Posted February 18, 2021 Here is a sample of the one I agreed to when I bought my pre sample Swedish K- Purchase Agreement The buyer agrees to purchase a pre may Dealer Sample Swedish K Model M/45B Serial number XXXXXX from (SELLER HERE) The purchase price is ($XXX,XXX) Payment terms are 50% down and 50% within 45 days after the buyer is told the approved paperwork from the BATF has been received by the seller.The penalty for not paying in 45 days will be a canceled transfer and 50% of the down payment will not be returned.The buyer pays the $200 BATF transfer fee since the seller in no longer a FFL or a SOT. The seller pays shipping.__________________________ Buyer print ________________________ ___________Buyer sign Date Please sign and send this agreement, first payment, and the BATF paperwork to my PO BOX. Link to comment Share on other sites More sharing options...
huggytree Posted February 20, 2021 Report Share Posted February 20, 2021 Ive seen 15-20 page ones with so much lawyer talk that you cant understand any of it. Ive sold 5 FA recently. I just spell out the process of who does what and when. Define the process so theres less room for disagreement. No lawyer talk, 1 paragraph . Ive yet to have a buyer say no to it. Most/all Nfa buyers and sellers are the most honest people you will meet. Either the seller is good or hes not. A contract wont save you. Still gonna cost thousands to get your money back if you ever do Link to comment Share on other sites More sharing options...
83Baron Posted February 20, 2021 Report Share Posted February 20, 2021 Huggy, what happened Not too long ago you were buying like crazy so now your selling? Link to comment Share on other sites More sharing options...
huggytree Posted February 20, 2021 Report Share Posted February 20, 2021 (edited) Ive made $24,000 profits off the guns Ive sold. My favorites Im keeping. I still have too many. I think I had 22 at one time. A bit nutty imo. Im cashing out. Making 50-120% off of them. Just sold my madsen. I like it. But Im almost making 100% on it. Which I cant pass up. I cant shoot all the ones Ive got. Add all the mac and m16 uppers. I sold all but one of my Mac 11a1 uppers cause I felt they all shot like garbage. Cashing out on mags and parts kits too. Ive made $15,000 profit on all that stuff too. The market is so good right now and I had so much nice stuff that I dont use. Why not. Im in the process of getting my ffl and sot. Going to get into buying and selling as a business finally. Ill get some gun samples Ive wanted to try but arent available otherwise. Just grabbed a Luger locally for $850. Its too prestige to shoot so I decided to sell. Should bring $2000-2500. Thats what Id like to do as a hobby job as I get older. 2-3 years ago was the time to buy and I didNow is the time to sell and thats what Im doing. Not getting out of the hobby by any means. Think Im done selling my Nfa guns now. Id consider selling my Ingram m6 but the market hasnt risen enough. I enjoy it enough for what I paid for it. Lots of subguns are blah. Not special. Own enough and some make you yawn they are so boring Edited February 20, 2021 by huggytree Link to comment Share on other sites More sharing options...
maxfaxdude Posted February 20, 2021 Report Share Posted February 20, 2021 Ive made $24,000 profits off the guns Ive sold. My favorites Im keeping. I still have too many. I think I had 22 at one time. A bit nutty imo. Im cashing out. Making 50-120% off of them. Just sold my madsen. I like it. But Im almost making 100% on it. Which I cant pass up. I cant shoot all the ones Ive got. Add all the mac and m16 uppers. I sold all but one of my Mac 11a1 uppers cause I felt they all shot like garbage. Cashing out on mags and parts kits too. Ive made $15,000 profit on all that stuff too. The market is so good right now and I had so much nice stuff that I dont use. Why not. Im in the process of getting my ffl and sot. Going to get into buying and selling as a business finally. Ill get some gun samples Ive wanted to try but arent available otherwise. Just grabbed a Luger locally for $850. Its too prestige to shoot so I decided to sell. Should bring $2000-2500. Thats what Id like to do as a hobby job as I get older. 2-3 years ago was the time to buy and I didNow is the time to sell and thats what Im doing. Not getting out of the hobby by any means. Think Im done selling my Nfa guns now. Id consider selling my Ingram m6 but the market hasnt risen enough. I enjoy it enough for what I paid for it. Lots of subguns are blah. Not special. Own enough and some make you yawn they are so boringI noticed all of the guns and parts kits you had for sale. I was going to PM you asking if you had any other subguns to sell! Anyway, good to know that you're still in the game. I intend to do exactly what you said when I retire and become a "Class 3 dealer". Link to comment Share on other sites More sharing options...
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