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Old January 27, 2013, 04:26 PM   #1
Beretta686
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Line between "Dealing" and "Private Collection" for NFA items

I stumbled upon an elderly gentleman with quite a collection of Machine-Guns that he's interested in unloading in bulk, as his family has no interest in owning them. I'm considering making him an offer for all of them but want to think before I leap.

If I were to transfer all these items via Form 4s and promptly resell the majority of them after their transfer, would that be "dealing without a license" or just me selling from my "private collection"?

Or could I have the ones I wish to sell, transfer to my NFA dealer and then sell them through him and thereby bypass the "dealing without a license"?

I'm pretty sure there's no bright-line standard, rather what ATF can prove. I've been dumping Evil Black Rifles from my personal collection to cash in on the silly feeding-freenzy going on right now, but this is a deliberate move I want to think through.
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Old January 27, 2013, 06:46 PM   #2
johnwilliamson062
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Quote:
I'm pretty sure there's no bright-line standard, rather what ATF can prove.
If I was ATFE and trying to prove such a thing this public forum post would be rather convenient.
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Old January 27, 2013, 07:15 PM   #3
Ridge_Runner_5
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If the sale of the weapons is greater than 50% of your income for the year, that is considered dealing.

They might stick you anyway, just because you said you intend to buy them and turn around and resell them asap.
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Old January 27, 2013, 10:39 PM   #4
Willie Sutton
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Personally, I would finance the deal and have the transfers be done to a dealer. Then do the marketing and let the dealer do the transfers for his fees. Pay him vault storage costs and go about your business. Cherry pcik what you want and have thse transfers be from the dealer to you. Be a customer, not a supplier.

Either that or just get a FFL and pay the SOT....


Willie

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Old January 27, 2013, 10:48 PM   #5
James K
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If you can afford to do so, buy all the guns at once. When you send in the Form 4's enclose a letter saying why you are buying so many and I don't think there will be any problem. (You can check with BATFE in advance if you want.)

Then, assuming there is no change in the law, sell those you don't want one or two a year as you would do normally in weeding out a collection. I think it is a sure bet you won't lose money.

Or use a dealer, as suggested, but that will add $200 to each transfer.

Jim
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Old January 27, 2013, 11:14 PM   #6
Powderman
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Dude...buy them and KEEP THEM!!!

It seems like you are in an enviable position--access to registered and transferable NFA items--a bunch of them--and you have the wherewithal to seal the deal. Heck, I'd keep them ALL!

(Especially if there are Thompsons or other goodies in there...the mind boggles...swoon...drool...)
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