Best to sell them at some time to those that would appreciate them, and leave the money to those that won't appreciate them.

 

I agree but part of me says if they won't appreciate my property why should they get my money

 

I have a 23 year old daughter that is a very good shotgun bird shooter. She can actually give me a good run in clays. She has deer hunted and no desire to elk hunt. Well I moved from Arizona last year and now a fisherman along the gulf coast. I was estate planning my collection also and even with nephews and cousins I decided to ship my 338 Winchester Mag (that knocked down 4 elk for me) to my hunting buddy's son back in AZ as a gift for high school graduation. My only demand was he cannot sell it or trade it but can only pass it down to his kin in the future. He was elated and happened to get drawn for elk this year in AZ. Oh I need to call him with another demand, send elk meat!

 

The Colt Forum has a classifieds section. The members here would gladly help convert your guns to an equitable amount of cash and care for them as well.

 

+1

 

Pistol Permit, those two words make me shudder almost as much as "we're here to help" :X

 

My two boys are very interested in the 5 firearms (2 - Colt's, 2 - S & W's, 1 Beretta) I carried for so long on-duty. And I have no doubt that those 5 will be well taken care of and kept in the family, at least for the foreseeable future. All the old Colts and Winchesters I have...they're not really interested. So my recent developing plan is to sell them (with the exception of a couple for a grandson) probably starting relatively soon.
And as JohnnyP stated above re doing that and then leaving the money to them. I will, at least what's left of it. I've always wanted to see a good number of things here in this great country of ours, the castles in England and the Outback in Australia. They'll be more than welcome to split the $18.37 left over after I've worn myself completely out.

 

So, I'm at a loss about what to do about them as for leaving them in good hands after death, someone who would appreciate and use them.

Thanks

Want my Address?
I shoot them all!

 

Want my Address?
I shoot them all!

And you're honest and love your neighbor? Well, I can tell you do.

I'm giving you my prize pistol, the pistol George Washington had all during the Revolution. The proof is the letters "a-u-t-h-e-n-t-i-c" stamped on the left side.

 

I had a coworker that inherited a collection and had no interest. Long story short, he sold them to me for what a local gun store offered, $2k. I told him they were worth much more but he didn't care. We are/were good friends. His inheritance included a house and a large sum of money. He was glad to be rid of them and I was glad to get them.

I had another co-worker inherit a collection of about 15 guns and she was thrilled to get $500 for everything. Her step-dad that passed was in his mid to late 80's. No telling what he had but it's a safe bet it was worth MUCH more than she was given.

This has me thinking, I too should get a plan together. I have a nephew and brothers that enjoy shooting. I'll have to get an inventory written up and provide some basic values and sources for values so nobody gets taken advantage of if they decide to sell. Maybe provide a contact for an auction house like RIA etc.

 

What's an accepted source for values? Bluebook?

 

With that number of guns, I'd make a spread sheet of what you have, listing serial, description, approximate or exact value - as much info as you care to expound upon and keep a copy with your guns if in a safe or where the majority of them are kept, and a copy or copies to whomever that you see fit. If you have a Laywer and/or an official will, it won't hurt.
You could do a video with all the guns, and tell about each one- value.. your wishes .. etc.

It's good to have the spread sheet with serials and value in case of theft or fire anyway.

I'm planning on being the crazy dad / uncle / (grandpa if I ever live that long). Leaving a video instruction- If you want the gun for your property, you have to shoot it- two or more wants it, whoever has the best target score takes it..- everybody wants to sell them- goes to the charity that I instructed.
Any fighting over them will be settled with Colts at high noon - and that's the way I will have it.

 

I have a medium sized collection that has taken several decades to assemble. There is an envelope in the safe with a set of instructions to let my wife know exactly what to do should anything happen to me. I have a close friend and forum member who has agreed to take possession of my collection and to auction them off one piece at a time. He will keep a percentage of the total sales for his time/effort and the rest of the proceeds will be returned to my wife. This is my "Plan A". I don't have a "Plan B" yet, but I'm working on it.

 

I wonder what my brother-in-law will do now. He always supposed he would pre-decease his wife, my sister, and left his long guns and some pistols to her with instructions on how to get them to a reliable person he knows who would take a percentage for his work of selling them, and returning the cash to my sister for the Estate.
My brother-in-law has an enormous collection of long guns, worth many, many thousands.

She just died, my sister, so I must remind him once he has recovered from some of the grief, to see to re-planning that. Poor guy, his memory is bad since she died a few months ago. I am younger so I can take the grief without that kind of damage, hopefully temporary.

 

Sorry for your loss gvf. The guns will out live us so they do require a plan. I wouldn't want to see mine sold cheap. Of course I'd like to pass them to a relative that would enjoy and take care of them. If they decided they needed the money I could only help them with getting a fair price. I think an auction is best suited for that. They handle FFL transfers, help with reserves, shipping etc. The buyers are usually gun people and take care of their stuff. I'm open to ideas as you are gvf. All the best to you!

 

Thank you very much for such a pleasant and informative response.

 

The problem in my state (New York) is that the powers-that-be do not like guns that now no one owns sitting around the deceased's relatives' house. So, if plans are not quickly instituted for transfer of the guns, the police will take them after a short time and "hold them" for next of kin. Yeah, right...

("O, we forgot to mention, those Colt Pythons of your Uncle's from the early 60s, the 4 of them, somehow got misplaced. Would you take 4 Glocks in their place?")

 

I have a full listing of all firearms I own with the S/N, description, cost I paid and an approximate value today. I update the values yearly so cost and value are up to date. The executor of my estate has all instructions in my Will of what to do with them. First, he gets his choice of any firearm I have, them my son can have what he wants. The remaining firearms are to be sold by the executor and he keeps 10% of sale. Remaining funds go to those in my Will.

I should start to sell of some of the firearms now, but all I would do is use the money to buy more, LOL!

 

I love the way our minds work. "Well, let's see, if I stopped buying belts and shoes for the next 15 years I could afford this gun. And gum! I don't need gum. That's it! I do have the money!"

 

I had the experience of doing appraisals of several gun collections. To avoid the utter chaos I found caused me to take action. I'm almost 93 & last Christmas gave my guns, they making their own choices, to my Son & Son-inlaw. My Son & twin G-Sons comprise a a gun-wise unit, G-Sons being vets of Iraq & Afghanistan. My Daughter & Son-inlaw are also gun-wise recipients. G-Daughter, their heir, unknown other than growing up with guns, hunting, etc., graduated at 21 into $75K employment.

I still have access to half my collection, my Son, divorced, living with me till I croak --

Sad story: In 2009 I appraised 115 gun collection, one of many collections of different kinds of a very wealthy friend since 1940. His business housed his collections. We had discussed estate disposition & he was leaving his collections to his wife & the business to his partner's estate. He & wife were both on second marriages, substantial estates, & had existing "pre-nups" still in force when he passed. Result was that the wife got none of the collections, it all being considered part of the business. If there is a moral to the story it is that you can be ambushed by details you ignore or forget ----->

 

I put together a one-page summary for each of my collectible guns with the basics - manufacturer, model, caliber, serial number, what I paid, etc. plus any info I know about the model or that particular gun or what makes it special - even all the places the serial number is marked on the parts (applicable to Lugers). That way if something happens to me my heirs won't get burned too badly if/when they go to sell, and it should make it much easier to sell with all the pertinent info. Guns that were purchased or passed down from family members are noted as well in case they want to hang on to them.

There is no excuse leaving your family members to operate in the dark when they are probably under stress any way.

 

Like others, I have put together a spreadsheet of my firearms with all the pertinent information, and a minimum value each is worth. I go in and update that as values change. It is in my gun safe. I have about 120 handguns, mostly S&W revolvers from the teens and 20s, but used to collect 1903 Colts as well, and kept the best examples of those. I have identified the 5 or 6 guns that have family history and who they should go to. I have one gun I acquired that has some historical significance, and plan to try and donate that to a museum. My nephew (a gun guy) has agreed to dispose of the firearms and give my wife the proceeds.

I would also just comment that the NRA periodically encourages people to donate their collections.

Good luck figuring in out gvf. I helped a friend (with no gun knowledge) dispose of a large firearms collection he had inherited a few years ago.

 

My nieces and nephews would dump my guns upon my death for the first grand, maybe less, that anyone looking for a deal offered. They don't care.

Please pass along my name and number to your nieces and nephews.

 

I am in a similar problem. I have 3 sons and none are interested in guns. Maybe just the little one who goes shooting with me from time to time. I decided to hold on to my guns for a bit longer then sell them off and gift them the money when they are ready to get married to help them. In your case I would sell them all and buy one rifle for the lad that likes rifles as a gift to him and divide the cash up among the rest.

 

In light of their dislike of firearms, here's a couple thoughts: Sell them and spend the proceeds. Sell them and donate the proceeds to a reputable charity.

 

Good topic OP

I put in my will- for my wife to sell them, keep the money for her support- I told her to look at gun broker etc to get the prices before she sells anything- and that goes for books to abebooks price check etc.

She may get the help of a gun dealer I know and trust and also a book seller family friend,

I also put in my will- gifts of any personal effects to my friends will be annotated by notarized letter attached to my will.

That's my plan.

 

You've taken good care to tell your wife how to make informed sales of your guns. I like that, + other members who've done the same.

I don't hear it here but I have other places about shyster dealers who offer some widow, in emotional chaos due to her husband's death, some real low ball figure "to help you out". And the poor woman loses thousands. How people can do that to the vulnerable and suffering I don't know; but they do.

A good attorney swooping in right after your death is a good move too, the same one who will handle the whole estate.

"I'm sorry, an attorney is taking all calls related to gun values. He's also a Federal Prosecutor. Would you like his number?
...Hello?... Hello?"

 

I have a similar sized collection, minus one of my Colt's that I just gave to my step-son upon his graduation from police basic training. He and my son have some interest in firearms, but my daughters don't. That doesn't mean to me that they shouldn't share in their value after I'm gone. What I did was to make an inventory sheet of my firearms including description, serial numbers, when and where purchased, the purchase price and whether they were bought new or used. I keep this in the safe box along with my will, which makes no specific mention of them. As far as the estate is concerned, they're just additional personal property no different than the cars, furniture, etc., to be divided up after I'm gone. I've made clear to my wife and kids that some of them have a not insignificant value as collectibles, so they shouldn't just give them away if no one wants them. I've advised them to get them appraised or check the going prices on the internet and then divide them up as they mutually agree. If they can't agree, then the will states that the executor of the estate is the final arbiter. If I could take some of them with me, I would.

 

I have no illusions that my family will care about my gun accumulation.