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Posted: 3/4/2007 6:50:38 PM EDT
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I'm seriously thinking about getting a C&R and had a couple of questions. i really like old Smith's, but am not a rich man. Sometimes when i see somethign i want, I have to sell off something else to afford it. How does one go about this when you area C&R holder? Also, another situation, say SOG has a special, where if you buy three of the same rifle, they give you a discount. As a collector, you want the best one, and desire to sell off the other two to recoup your investment. same kind of situation. Not trying tomake a profit, or run a business, just curoius about how this stuff works. Do you fill out a 4473, ro similar form, do you just log it out of your book into the name and info of teh buyer? I know you are not allowed to make a profit, but how does teh ATF actyually know this? Since it's not a business, you don't need to worry about any kid of IRS stuff do you? thanks guys, Doug K |
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No on the form 4473, if instate you need to comply to laws on your state. Out of state must be sold to a dealer or other C&R. If a private individual FTF, then just need their name, address & DL number. Sale to another C&R just needs their name and FFL #. IMO, you can sell but I wouldn't do it too much. Remember as a C&R you are a collector not a dealer. Get it though, it is worth the discount's at Brownell's & Midway alone. |
A couple of things wrong here. First, there is no rule that says you can't make a profit. None. Nada. Zip. No 4473's involved. You do have to record name/address/DOB of the buyer. Essentially, the relevant rule is that you can't engage in business. Here's what the BATF says about that in their C&R FAQ (emphasis added is mine):
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| This is a good question and I don't have an answer. I think the idea is that you sell off items to "enhance your collection". If you bought three M44's and kept the best one and sold the other two to another collector or whoever, as long as it is in your bound book and you could justify the sell as to only recover funds it might be ok. Now if you continually buy C&R firearms and sell them off, you would certainly be in trouble. If you could call the ATF and ask for their opinion in a written letter that would be the best bet as you could keep a copy of said letter. There is a lot of grey area in this regard that could be cleared up for all of us. |
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I've not yet renewed my C&R but I've read that somewhere in the renewal process you're asked for the number of C&R's you've bought and sold during the license period. Assuming that's true, I would think they're looking for a reasonable balance. I bet they want to see that you actually retained some of the guns you bought. Of course, the FAQ quoted above says you can sell "all or part" of your collection. My sense is that they don't get too bent out of shape unless something you do raises red flags. If they suspect you're a gun show dealer or selling SKS's down at the school yard they probably are sticklers for the rules. If you're just a fickle collector you're probably OK. Of course, I imagine that different BATF districts/offices operate differently. |
I renewed mine and the number I aquired far outnumbered the ones I disposed of, about 4-1 and no problems so far. |
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