Before I got my FFL, I used this method and never had a problem.
1.)Write down the date, name, DOB, and driver's license / state ID number of the purchaser. You basically verify their state of residence when you look at their DL / ID for this information.
2.)Write down all identifying information on the firearm (Manuf., Model, Serial number, ect.)
3.)Have the purchaser sign for receipt of the firearm, and you sign as the seller.
4.)Exchange money for gun and you are good to go.
I know this all sounds extreme, but I am sure that we are all aware of firearms traces. Let's just say that you were the original purchaser of the gun in 1993 and that you sold it to a private individual in 1999. Let us also assume that you got no information on the purchaser. Fast forward to 2005 when Mr. ATF man shows up at your doorstep conducting a firearms trace due to the fact that your weapon was recovered at a crime scene. "Uh, no, I sold that gun to some guy at a gun show years ago. No, I have no idea who he was, I didn't particularly care."
Maybe Mr. ATF man would just shrug his shoulders and go away, but I wouldn't count on it. My bet is that he'd be back with friends and a warrant, but hell maybe I'm just paranoid. The point is this: I am not willing to subject my family to such needless federal intrusion just because I didn't take 2 extra minutes for my own piece of mind.
For those of you that feel just such a procedure is an intrusion on the buyer's privacy, or that it is tantamount to effecting registration at the private level, let me offer this to consider. We are all continually clamoring for the focus to be on the criminal who misuses the gun, not the gun or the lawful citizens who own similar guns. We are also fighting in many states to keep gun shows available because of the hyped up "loophole" of private sales that the left keeps playing up. If everyone would have followed this procedure years ago, none of these arguments would gain ground. It is not registration because it requires that a manual (and often time consuming) investigation be conducted, and only after the weapon is recovered at a crime scene. Seems to me that it only makes it easier to track down the person who actually misued the weapon without encroaching on the lawful gun owners in the process.
Saleen