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Discussion Starter #1
About a year ago I bought a gun listed on armslist. It was a local ftf sale. I got a deal but not a great deal. The seller seemed like a reputable guy and an ex-marine if i recall.
Anyhow, he called me today kind of in panic mode and wanting to buy back the gun. He said that it was his friends gun but his friend gave it to him as collateral for money he owed to him. He said his friend disappeared for over a year so he sold it to get back his money. Now his friend is back, has money and wants his gun.

What should I do?
 

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Figure out a reasonable ? "rate of return" on your investment, plus appreciation if applicable, and offer to return it for that amount. or not.
 

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Keep it, or sell it back to him at a profit.
I would see if you can find and print the armslist ad
 

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When you bought the gun did you get a bill of sale?
 

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Discussion Starter #8
When you bought the gun did you get a bill of sale?
Yes. But would a bill of sale ensure its my property if it were reported stolen? I might be wrong, but I assume if it were reported stolen id have to return it to the original owner regardless what the seller and I worked out. Id have to try and recover money from the seller; not the owner.
 

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Only you know how to handle this .

Sounds like a hassle in the making . Were it me , I would sell it back(cash) at whatever $ I had in it . Do the transfer through a dealer so there is a transfer record and so that you know the buyer can pass a background check . The buyer can pay the dealer fee .
 

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A bill of sale will be a defense against a charge of knowingly receiving stolen property. I personally would get my money back from the guy who sold it to you and wash my hands of the problem. And after getting my money back he’d get a good tongue lashing. I bet if he had originally told you why he was selling the gun you wouldn’t have bought it.
 

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What would happen if his friend reported it stolen?
He could try, but it is a civil, not criminal matter. He could sue you, but his claim is against his buddy.
 

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Discussion Starter #14
It depends. Is it a Colt?
Mac
Nickel Python 4" - A very good condition shooter, no package. I think I paid $2,100 but i need to look at our bill of sale to verify. Definitely no more than $2,100 though. I spent a few hours turning it into a very good condition gun.
 

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Sell it back for what you paid.
 
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Its your gun.

Let him deal with it. He cant report it stolen. If he does thats a false police report.

He owes the guy and its going to cost him.
 

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Only you know how to handle this .

Sounds like a hassle in the making . Were it me , I would sell it back(cash) at whatever $ I had in it . Do the transfer through a dealer so there is a transfer record and so that you know the buyer can pass a background check . The buyer can pay the dealer fee .
I believe this is also the way I would handle it. Sounds very logical.
 

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Our Administrator is correct. Let an FFL holder handle the transaction so it is documented and the purchaser has to undergo a background check. I’d add the cost into the selling price.
 

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If and I mean if you were to sell it back , I definitely say get a profit .
Even if it’s only 100 bucks - you said you have time invested in it , that’s legitimate $50 hr right there.

So when I read OP I assumed the “Marine” was THE LEGAL OWNER .

if an individual ( except immediate family ) on Either end of a collateral firearm doesn’t legally transfer said firearm , THEY ARE BOTH IDIOTS !

Also , I would think if the guy who sold you the snake wasn’t the legal owner - HE broke the law , not YOU
 
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