Quoted: Its my understanding that C&R is for buying not for selling. Its not an FFL.
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It
is an FFL - but a Type 03 FFL, which does not allow you to engage in business.
If you are selling a lot of the firearms that you purchased and logged on your C&R FFL, the ATF might crawl up your ass. However, you could certainly buy three or four of the same rifle, and then sell of a couple of the ugly ones, or something like that. I think there might be a certain number of sales per year that the ATF might be worried about. (But they really don't inspect a whole lot of C&R license bound books as far as I have heard).
However, if you allow the license to lapse, I
imagine you could sell of your "collection" but am not 100% sure. After all, perhaps you bought 100s of different variations of Enfield rifles for 3 years, and then got married and your liberal wife told you to sell them all to make room for her benie babies
I guess nothing woudl be wrong with that.
But, I wonder if the ATF might still care if you bought 300 identical Mosin-Nagant 91 rifles, and then started selling them in Shotgun News the day after your license expired? It would certainly appear to violate the spirit of the law, but I'm not sure it violates the letter.
Interesting question.