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Posted: 1/12/2016 5:39:07 PM EDT
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Found a guy locally who is looking to sell his EA M16 on a Form 4. He wants $12,500, while thats quite a bit below the going rate of probably $15k+ for these Im just curious if its worth buying to flip for a profit or not waste my time. Im hesitant because most people feel that EA lowers are the red headed step child of the M16 family.
Updated: Apparently he claiming he meant to say $17,000 not $12,500, not sure how you get that messed up. Basically he realized he way undervalued it haha. |
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Yes - EA lowers are investment cast; unfortunately cast receivers in general have unfairly gotten a reputation for being a poor quality product, though that's not been my experience. Everything I've ever found said that EAs lowers were all cast by Ruger's Pine Tree Castings foundry.
I've had one since '99. I've run a zillion rounds through it. No problems with magwell tightness or uppers fitting. The only problem I've ever had I brought upon myself - in the early 2000's I spent about 5 years running 9mm almost exclusively through the gun. Since I didn't spend much time on gun boards, I didn't know about ramping the bolt. As a result it started to egg one of my hammer pin holes  and I had to send it to m60joe to be fixed. After I got it back I had the bolt ramped, put some kns pins in and haven't looked back.
If I had the 12k I'd buy a second one, but finances aren't in place for something like that right now. -bob |
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I'd careful as I believe some of the EA receivers were "remade" with newer receivers but engraved with original receiver markings. You could run into problems. Just what I recall of the top of my noggin'. This one appears to be very old, has raised letters and appear cast not forged, also is a light grey color and looks like it's seen some heavy use. Is marked safe and fire with auto written vertically with what appears to be steel letter punches. My plan was to buy it and flip it to frank or another dealer who pays quickly and reliably but didn't get as strong of an offer from the dealers as I was hoping, wouldn't end up with much more than about $1k profit after I deal with all the stamps and what not. Plus with having the cash tied up for so long I could save almost as much on interest if I just paid the money onto my mortgage haha |
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Quoted:
This one appears to be very old, has raised letters and appear cast not forged, also is a light grey color and looks like it's seen some heavy use. Is marked safe and fire with auto written vertically with what appears to be steel letter punches. My plan was to buy it and flip it to frank or another dealer who pays quickly and reliably but didn't get as strong of an offer from the dealers as I was hoping, wouldn't end up with much more than about $1k profit after I deal with all the stamps and what not. Plus with having the cash tied up for so long I could save almost as much on interest if I just paid the money onto my mortgage haha Quoted:
Quoted:
I'd careful as I believe some of the EA receivers were "remade" with newer receivers but engraved with original receiver markings. You could run into problems. Just what I recall of the top of my noggin'. This one appears to be very old, has raised letters and appear cast not forged, also is a light grey color and looks like it's seen some heavy use. Is marked safe and fire with auto written vertically with what appears to be steel letter punches. My plan was to buy it and flip it to frank or another dealer who pays quickly and reliably but didn't get as strong of an offer from the dealers as I was hoping, wouldn't end up with much more than about $1k profit after I deal with all the stamps and what not. Plus with having the cash tied up for so long I could save almost as much on interest if I just paid the money onto my mortgage haha Would he take less? Cast or not, if you could get it for like $11k, that might be worth taking a gamble on. I'd keep it for that. |
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I've seen some local guys with transferrable EA cast lowers and they all seemed to be fine. If I had one with egged out hammer/ trigger pin holes, I'd seriously consider putting these in. |
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Quoted:
Found a guy locally who is looking to sell his EA M16 on a Form 4. He wants $12,500, while thats quite a bit below the going rate of probably $15k+ for these Im just curious if its worth buying to flip for a profit or not waste my time. Im hesitant because most people feel that EA lowers are the red headed step child of the M16 family. As they say in the GD Forum - I'd fo. MHO, YMMV, etc. |
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The lesson in this thread: When someone offers you a transferable RR at any price under $15k, buy it. Right then. If you take the time to ask around, the price will have risen 50%.
BTW, this is the third time I've heard of this happening in the last six months. Folks came across a local RR, asked the guy if he was interested in selling, then took the time to research it here ... and by the time they went back with a checkbook, the price had suddenly gone through the roof. When you find a bargain ... grab it. YMMV. 
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I bought a registered receiver in November 2014. It was an Olympic Arms gun at auction for just shy of $12,000 after auction fees. I mainly grabbed it not because I really needed or wanted it but because it was a good deal and you never turn down a good deal M16. Worst case I figured I could turn it into a dedicated 22LR gun to scratch the Norrell 10/22 itch I have.
So far I have paid two transfer taxes, boxing and shipping to my dealer from the auction house, dealer transfer fee, sent it to M60Joe to be checked against blueprint and adjusted with shipping/insurance both ways, as well as an additional monthly insurance premiums on my policy. I still have to get the selector markings re-engraved, send it off to US Annodizing to be reannodized, and then at a minimum build out the lower with all Colt part. At that point I will probably have another $2500 into it over purchase price. Throw a halfway decent upper on it and I am looking at another $500 on top of that. Lets say I could get $17,500 for it today (which is about $1000 under Rubens asking price) I would make a total of $2500. Capital gains will take $750ish, leaving me with 1700ish in profit...maybe. Honestly, looking back I am not sure I would necessarily pick up another "good deal" M16 again unless I really...really wanted it. Way too much risk, time and trouble just for a potential flip. |
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Quoted:
The lesson in this thread: When someone offers you a transferable RR at any price under $15k, buy it. Right then. If you take the time to ask around, the price will have risen 50%. BTW, this is the third time I've heard of this happening in the last six months. Folks came across a local RR, asked the guy if he was interested in selling, then took the time to research it here ... and by the time they went back with a checkbook, the price had suddenly gone through the roof. When you find a bargain ... grab it. YMMV. Quoted:
The lesson in this thread: When someone offers you a transferable RR at any price under $15k, buy it. Right then. If you take the time to ask around, the price will have risen 50%. BTW, this is the third time I've heard of this happening in the last six months. Folks came across a local RR, asked the guy if he was interested in selling, then took the time to research it here ... and by the time they went back with a checkbook, the price had suddenly gone through the roof. When you find a bargain ... grab it. YMMV. C'est la vie Quoted:
I bought a registered receiver in November 2014. It was an Olympic Arms gun at auction for just shy of $12,000 after auction fees. I mainly grabbed it not because I really needed or wanted it but because it was a good deal and you never turn down a good deal M16. Worst case I figured I could turn it into a dedicated 22LR gun to scratch the Norrell 10/22 itch I have. So far I have paid two transfer taxes, boxing and shipping to my dealer from the auction house, dealer transfer fee, sent it to M60Joe to be checked against blueprint and adjusted with shipping/insurance both ways, as well as an additional monthly insurance premiums on my policy. I still have to get the selector markings re-engraved, send it off to US Annodizing to be reannodized, and then at a minimum build out the lower with all Colt part. At that point I will probably have another $2500 into it over purchase price. Throw a halfway decent upper on it and I am looking at another $500 on top of that. Lets say I could get $17,500 for it today (which is about $1000 under Rubens asking price) I would make a total of $2500. Capital gains will take $750ish, leaving me with 1700ish in profit...maybe. Honestly, looking back I am not sure I would necessarily pick up another "good deal" M16 again unless I really...really wanted it. Way too much risk, time and trouble just for a potential flip. Plus I'm always hesitant to hand that kind of cash over to some random person. A dealer? sure no problem but to give someone tens of thousands of dollars and then have to wait 6 months to pick it up from them....ehh i dunno |
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Quoted:
I bought a registered receiver in November 2014. It was an Olympic Arms gun at auction for just shy of $12,000 after auction fees. I mainly grabbed it not because I really needed or wanted it but because it was a good deal and you never turn down a good deal M16. Worst case I figured I could turn it into a dedicated 22LR gun to scratch the Norrell 10/22 itch I have. So far I have paid two transfer taxes, boxing and shipping to my dealer from the auction house, dealer transfer fee, sent it to M60Joe to be checked against blueprint and adjusted with shipping/insurance both ways, as well as an additional monthly insurance premiums on my policy. I still have to get the selector markings re-engraved, send it off to US Annodizing to be reannodized, and then at a minimum build out the lower with all Colt part. At that point I will probably have another $2500 into it over purchase price. Throw a halfway decent upper on it and I am looking at another $500 on top of that. Lets say I could get $17,500 for it today (which is about $1000 under Rubens asking price) I would make a total of $2500. Capital gains will take $750ish, leaving me with 1700ish in profit...maybe. Honestly, looking back I am not sure I would necessarily pick up another "good deal" M16 again unless I really...really wanted it. Way too much risk, time and trouble just for a potential flip. or buy it as-is, sit on it as-is, then sell it as-is in the same condition that you bought it and let the next buyer fix her up to be a shooter. Then you doubled your capital gains. |
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or buy it as-is, sit on it as-is, then sell it as-is in the same condition that you bought it and let the next buyer fix her up to be a shooter. Then you doubled your capital gains. Quoted:
Quoted:
I bought a registered receiver in November 2014. It was an Olympic Arms gun at auction for just shy of $12,000 after auction fees. I mainly grabbed it not because I really needed or wanted it but because it was a good deal and you never turn down a good deal M16. Worst case I figured I could turn it into a dedicated 22LR gun to scratch the Norrell 10/22 itch I have. So far I have paid two transfer taxes, boxing and shipping to my dealer from the auction house, dealer transfer fee, sent it to M60Joe to be checked against blueprint and adjusted with shipping/insurance both ways, as well as an additional monthly insurance premiums on my policy. I still have to get the selector markings re-engraved, send it off to US Annodizing to be reannodized, and then at a minimum build out the lower with all Colt part. At that point I will probably have another $2500 into it over purchase price. Throw a halfway decent upper on it and I am looking at another $500 on top of that. Lets say I could get $17,500 for it today (which is about $1000 under Rubens asking price) I would make a total of $2500. Capital gains will take $750ish, leaving me with 1700ish in profit...maybe. Honestly, looking back I am not sure I would necessarily pick up another "good deal" M16 again unless I really...really wanted it. Way too much risk, time and trouble just for a potential flip. or buy it as-is, sit on it as-is, then sell it as-is in the same condition that you bought it and let the next buyer fix her up to be a shooter. Then you doubled your capital gains. Well said kinda like houses they only go up in value.its kinda like a rent house even after renting it its still worth more than when you buy it. |
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or buy it as-is, sit on it as-is, then sell it as-is in the same condition that you bought it and let the next buyer fix her up to be a shooter. Then you doubled your capital gains. Quoted:
Quoted:
I bought a registered receiver in November 2014. It was an Olympic Arms gun at auction for just shy of $12,000 after auction fees. I mainly grabbed it not because I really needed or wanted it but because it was a good deal and you never turn down a good deal M16. Worst case I figured I could turn it into a dedicated 22LR gun to scratch the Norrell 10/22 itch I have. So far I have paid two transfer taxes, boxing and shipping to my dealer from the auction house, dealer transfer fee, sent it to M60Joe to be checked against blueprint and adjusted with shipping/insurance both ways, as well as an additional monthly insurance premiums on my policy. I still have to get the selector markings re-engraved, send it off to US Annodizing to be reannodized, and then at a minimum build out the lower with all Colt part. At that point I will probably have another $2500 into it over purchase price. Throw a halfway decent upper on it and I am looking at another $500 on top of that. Lets say I could get $17,500 for it today (which is about $1000 under Rubens asking price) I would make a total of $2500. Capital gains will take $750ish, leaving me with 1700ish in profit...maybe. Honestly, looking back I am not sure I would necessarily pick up another "good deal" M16 again unless I really...really wanted it. Way too much risk, time and trouble just for a potential flip. or buy it as-is, sit on it as-is, then sell it as-is in the same condition that you bought it and let the next buyer fix her up to be a shooter. Then you doubled your capital gains. However my headache goes way up when somebody buys it and is then unhappy and publically complains because their xyz brand upper wont fit, mags wont drop free, or it wont run full auto with the crappy fcg and buffer that's in it.. If I am selling somebody a $15,000+ item I am going to do everything I can to make sure it is 100%. I don't want to be the guy who sell an M16 to somebody only to have them post how I screwed them over and sold them a piece of crap. http://www.ar15.com/forums/t_6_23/410865_just_took_possession_of_an_SGW_PAWS_M16.html I have already have one ding from a guy who wasn't happy about a semi AR I sold him "as-is", I don't need to deal with that again over an extra grand or so in profit. |
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$17k is above market rate for a private sale. Not something you'd be able to flip. Agree. A dealer sold a complete "Stop Sign" conversion 'M16' rifle last week at under $16K. It went in two or three days, but still that was a whole M16, not just a lower. I had thought about getting it, but I've got an M16 and I'm saving up to get something else later this year. MHO, YMMV, etc. |
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Agree. A dealer sold a complete "Stop Sign" conversion 'M16' rifle last week at under $16K. It went in two or three days, but still that was a whole M16, not just a lower. I had thought about getting it, but I've got an M16 and I'm saving up to get something else later this year. MHO, YMMV, etc. Quoted:
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$17k is above market rate for a private sale. Not something you'd be able to flip. Agree. A dealer sold a complete "Stop Sign" conversion 'M16' rifle last week at under $16K. It went in two or three days, but still that was a whole M16, not just a lower. I had thought about getting it, but I've got an M16 and I'm saving up to get something else later this year. MHO, YMMV, etc. I usually don't even count the value of the upper as most are put together crap parts and most buyers just strip the lower and rebuild how they want it |
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