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Reference - Subgun Ordnance (Location Racine, WI)


Paul in PA
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Anybody know anything about Subgun Ordnance of Racine, WI? Very remote chance I may do a deal with them. Looking to possibly purchase a C&R eligible SMG on my C&R FFL. So it would be a Form 4 transfer to me. With Form 4 transfers running 12 months, and the current trend for dealers to want 100% up front, the buyer has all the risk.

 

Have not purchased a NFA firearm in over 25 years. When did the 50-50 sales end? Heck my second SMG deal was $500, I paid the transfer tax, and the balance ($2,250) was due when ATF approved the Form 4.

 

Not certain there will be any Class III purchases in my future with price being $10K-$20K-$30K and 100% up front.

 

 

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He is on the Forum. Goes by "Arch Stanton". He brokered a deal for me this year and so far all is well. He was extremely responsive and I have enjoyed working with him. As far as 50/50 vs all up front. All depends on who is selling. If the seller needs money (why they are selling) verses a larger stocking dealer, or even both, having huge amounts of money tied up over several guns can grind a business to a halt. I done transactions both ways. None of us control the wait time. Both buyers and sellers are victims.

 

At the end of the day, whoever has the gun you want dictates the tempo. Good luck. I give joe a thumbs up.

S/Fi,

Sandman1957

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Agreed to several 50/50 purchases of MGS this year. I have no problem with them, and many others in the business don't either if it helps the buyer to pay for the purchase. I've also personally paid the first transfer on brokered MG in order to get the gun sold for the owner and even split it once between me and the buyer.

I'll bet that the NFA you bought "25 years ago" is worth a lot more now and purchases today will be worth a lot more in 25 yearw than you pay today. You want to miss out on that and the enjoyment of another MG because you can't work a deal on a payment plan?? Doesn't make much sense to me.

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i know him/talk to him and see him personally a few times a year....he will not cheat you....i see both sides to the 50/50 thing....both his guns are rock bottom.......maybe if you are willing to pay $1,000 premium he would do a 50/50....if you want a rock bottom price you may lose something...the 50/50?....

 

ive paid for most of my guns in full....a few 50/50....my mac they said send anything....they would have taken $1000 to hold it.....i think Spiwak would have done 50/50 or less with me.....

 

to each his own, but if i were in the market for either of his guns i would see the good deal vs his payment plan

 

there is no rule you must do 50/50

Edited by huggytree
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Thanks all for the feedback.

 

First, I think Arch's S&W 76 is sold. Second part is this gun appears to be one he is brokering, not in inventory. It is on a Form 4. So I think the current holder would remain in possession until it transfers to me on a Form 4, I am a C&R FFL. I see risk in this type of transaction with the current owner, not so much as Arch.

 

Second, I am in the market to possibly purchase a new Class 3 - MG. Do not need one and would like one. But again not liking the risk of all funds up front. We all have stories of dealers who are less than honest.

 

Third, Bob is correct - 25 year and some of my Class III is up 5 to 10 times what I paid. But what has the stock market done over the same period - 7.5 times. So basically seeing it as a break even proposition.

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Ive never lost $1 on anything NFa. Mags guns accessories. Ive gotten things in worse than advertised condition but never cheated out of anything. Ive found the NFa community to be the most honest people Ive dealt with

 

His prices are rock bottom right now. You may find 50/50 but may pay more $$

 

Its a Free market. So you can ask for any deal u want. I get his 100% upfront $$. Lots of people back out. More than get cheated by the sellers. Probably thousands of times more often

Edited by huggytree
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I've sold most of my larger class three stuff ( mortars , bazookas , recoilless rifles , M2HB , beltfeds , etc. ) over the last couple of years and all but the M2HB was 100% up front . As soon as I had the money , though , the buyer recieved every accessory and non-registered part of the deal . I kept only the reciever with the non-easily removed parts attached . I had open communication with the buyer through the entire process . The M2HB was an exception due to the high cost and the buyer being a doctor with a large practice in my state and he agreed to a big chunk of the first 50% being mine even if he backed out . A seller having to wait a year for funds only to risk a no-pay and having to restart over is just not good business sense .

Chris

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ppgcowboy

I did the 100% up front on the 1921A/C that Joe was brokering for a friend of his. He explained the situation and I understood and agreed. No regrets.

 

However, you are right in only proceeding with deals you feel good on. That's alot of $ tied up for a long time. (for both parties). I done deals several ways including some $ up front, 50/50 and even mailed one I sold out to buyer before the last payment came in. I trusted the gent, and wanted to assist him in getting in the club. The form four came back faster than we anticipated so he paid me after he got the gun. I was good. All depends on the warm fuzzy you have as either a buyer or seller.

 

I have more concerns with the current state of politics than I do with sellers, buyers etc. (not including SCAMMERS).

 

Sandman1957

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