Thread: LGS Ripoff!
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Old March 17, 2013, 08:37 AM   #16
Uncle Buck
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Join Date: June 21, 2009
Location: West Central Missouri
Posts: 2,561
OK, I guess I missed the rip-of part.

The LGS has high prices. So doesn't Southerby's Auction House.
- The large Gun Store has already purchased the items for resale.
- Southerby's Auction House runs on commission, usually 28% from the seller and also charges the buyers a 10% buyers fee. (They have not purchased anything for inventory.)

Who runs the biggest risk of losing money? The LGS who has money tied up in inventory or the Auction house who has no capital at risk?

The market (Buyers) determine the price. When the sellers can no longer get what they are asking, the price comes down.

I bought an AR platform from a friend for $500.00. The going prices where $800.00 + at the time. If I decide to resell the rifle now, should I only be allowed to ask $650.00 for it? (A 30% markup?)
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