Smith Firearms Consulting was founded by Dan Smith when he saw a need for a Firearm Consultant that works for you. Dan is focused only on providing you a fair and honest appraisal and providing the best in NRA firearm training. Smith Firearms Consulting does NOT buy or sell firearms but can advise you on how to sell your collection profitably. Dan Smith has worked as a firearm collector (Type III FFL), gun store employee, and private gun sales over 30 years, and he is also a Certified Firearms Instructor through the NRA. Dan has extensive knowledge of many types of sporting firearms, but is always learning new things. Give him a call to see how he can help you.
A firearm appraisal is a thorough assessment conducted by a knowledgeable expert to determine the current market value of your guns. This evaluation takes into account several factors, including make, model, age, condition, and current demand in the market. The result is a formal, written appraisal that serves as an authoritative estimate of fair market value.
Dan’s appraisals use comparable sales on internet auction sites, blue book values, and collector associations as resources. Firearm condition is key to determining value, and Dan is expert in accurate condition assessing. Dan uses the percentage scale as typified in Fielstad’s Blue Book which is more accurate than vague terms (good, excellent, etc.) used by other appraisers. Unlike gun stores offering “FREE” appraisals with potential profit motives, Dan’s detailed evaluations empower people for better negotiations and accurate insurance purposes.
Reasons to Have Your Firearms Appraised
Accurate Insurance Coverage
Many collections are only minimally insured and are not documented in a manner that ensures accurate replacement values in case of disasters or theft. Standard homeowners’ or renters’ insurance policies often place limits on the coverage of firearms, sometimes capping it a figure far below their actual value. Without a professional appraisal, you risk being underinsured. Should theft, fire, flood, or another disaster occur, you could face significant financial loss. An up-to-date appraisal allows you to obtain a separate rider or schedule on your insurance policy, guaranteeing full replacement or compensation based on current market value as well as provide information to law enforcement in case of theft.
Estate Planning and/or Inheritance
Many firearms are passed down through families as treasured heirlooms. Accurate valuation is crucial when dividing assets among heirs, settling estates, or preparing a will. Probate courts and executors require documented values for all significant assets, including firearms. An appraisal can ensure a fair equitable divison of property, helping to prevent disputes or misunderstandings among beneficairies at least the dollar value can be equitably distrubeted.
Buying, Selling, or Trading Firearms
Whether you are looking to sell, buy, or trade firearms, knowing a gun’s true market value is essential. Sellers risk undervaluing and losing money, while buyers may overpay without adequate information. Gun stores will often provide free appraisals as part of their purchase offer. They have a known market locally and will only pay local prices. National sales venues typically will yield a higher value. In addition, gun stores may heavily discount your collection to enhance the stores’ profits. Typical offers will be 60-70% of their already low apprasial. Dan’s expert apprasial provides an impartial, professional opinion that can be used in negotiations or as a benchmark for transactions.
Satisfying Personal Curiosity
Sometinmes, the motivation for an appraisal is simply curiosity. Owners may wonder about the origins, rarity, or history of a firearm in their possessiion. knowledge of a firearm’s background often deepens one’s apperciation for it’s craftmanship and legacy.
Common Myths and Misconceptions
• Appraisals Are Only Needed for Rare or Antique Firearms:
Even modern or mass-produced firearms can hold significant value or may be subject to insurance limitations. All firearms benefit from professional appraisal.
• Appraisals Are Too Expensive:
The cost of an appraisal is usually far less than the potential loss from being uninsured or selling below fair market value. It is an investment in peace of mind.
•You Can Assess Value Yourself Online:
While online guides and forums can provide general ideas, only a professional can accurately evaluate condition and current market factors.