Fair Market Value

Ben Hartley · 06-09-2007, 05:23 PM

Something that's been buggin' me for years: just what on earth is "fair market value?"

Let us suppose that I go into a gun shop and the proprietor has a .342 GoshWottaBoomer Short Magnum stomp-action rifle for sale for $1000. I offer him $900... no sale. What's the fair market value?

Same shop, same situation, same rifle. Joe Doaks comes in, doesn't even read the price tag, offers $1100, walks out with rifle. What's the fair market value?

Same shop, same situation, same rifle. Jim Bloke comes in, offers $800, and the proprietor in disgust (and wanting the durn thing outta here) sells him the rifle. What's the fair market value?

Well, to me, it's $900; to Joe Doaks, $1100; to Jim Bloke, it's $800. Who's right? Jim? Joe? Am I right? Why? And who says so?

Ben Hartley

Stock Doc · 06-09-2007, 06:40 PM

I have always looked at it as if I want it then I will get it if I am comfortable. The fair market value is only a cliché. It is what you are comfortable with in all honestly. If you chase the exact gun around and put together a idea of prices based on condition and true sales not flukes, you can come up with a fair market value for yourself. Trying to make another believe it is sometimes very hard.

I have told some what I felt after research and they refused to believe a item was so little because they seen someone bought the exact thing for 3 times as much. Most of the time it is not the exact same item nor even close but everyone wants to be a expert.

Buy what makes you feel comfortable and always remember another will come around sooner or later and if not Oh Well. Wanting is only a compulsion that you can not control, but learning to grow up will teach you to not fall for this bad habit.

I found after having two Winchester Educationals, two consecutive Gas Trap receivers and many other rare or early guns that there out there so dont feel you ahve to have one at a high price "just because Rick B

jerry · 06-09-2007, 06:43 PM

Doc speaks words of wisdom.
My own philosiphy, something is only worth as much as someone is willing to pay for it.

Mr.Wolf · 06-09-2007, 06:51 PM

I quite agree Jerry....I quite agree.

lefty o · 06-09-2007, 09:11 PM

the way i look at it, is if your willing to pay what the seller is asking, then that is the fair market value.

Mooseman684 · 06-09-2007, 09:26 PM

Quote:

Originally Posted by Ben Hartley

Something that's been buggin' me for years: just what on earth is "fair market value?"
Let us suppose that I go into a gun shop and the proprietor has a .342 GoshWottaBoomer Short Magnum stomp-action rifle for sale for $1000. I offer him $900... no sale. What's the fair market value?
Same shop, same situation, same rifle. Joe Doaks comes in, doesn't even read the price tag, offers $1100, walks out with rifle. What's the fair market value?
Same shop, same situation, same rifle. Jim Bloke comes in, offers $800, and the proprietor in disgust (and wanting the durn thing outta here) sells him the rifle. What's the fair market value?
Well, to me, it's $900; to Joe Doaks, $1100; to Jim Bloke, it's $800. Who's right? Jim? Joe? Am I right? Why? And who says so?
Ben Hartley

Joe Doaks that paid 100 bucks more than the price tag is an IDIOT...LOL
Fair Market value is approximate value of used vs. what a new one would cost and priced accordingly...
Lets say a 100% NIB pistol is 500.00 , would you buy one somewhere else for 1000.00 just because some body priced it at that ? NO
You take that 500.00 Gun, throw away the box, go shoot 1000 rounds out of it, carry it in a holster, drop it or bang it up a bit...Now how much is it worth?
Fair market says 400.00 Plus or minus... So it basically is a relative Term.
It has Nothing to do with the price a dealer is "Willing " to sell it to you for, It has to do with current price Value as determined by " The Blue Book" or other Firearms pricing guide, determined by the Market and availability of a weapon. I buy Guns Cheap from a Pawn Shop because he has very little invested in them, so that would be "Less than fair market Value" if I pay 100 for a 200 dollar gun that you might pay full price for....
Rich

billy · 06-09-2007, 10:04 PM

i always figured it meant ,what the market will bear

TheJoker · 06-09-2007, 10:17 PM

It seems to me the term "fair market value" is an oxymoron. I absolutely love old guns with historical significance or footnote. But as I "window shop" online in my spare time, the prices seem to be pretty outrageous. I'd love to eventually add an old (1800's) Colt and Winchester, but I will have to win the lottery first. It seems the speculators have been there for a while and have driven the prices up. They seem to have discovered the military collectibles. Those prices really seem to be curving sharply upward now.

Dookiebutt · 06-10-2007, 07:51 PM

Well, fair market value can be what someone else says it is. For example, I'd never pay blue book for a car, but that's a reflection of market value. Similarly, I'd never pay Ebay prices for gun parts, but that's reflective of market value as well. You can spit out the dictionary explanation of a willing buyer and willing seller, neither having blah blah blah. There is still more to it.

SPOCAHP ANAR · 06-10-2007, 08:00 PM

FMV I feel is an average of what a gun will sell for. I often look at GA or AA to see what people are buying guns for. If I can get an equal or better quality for less then I feel I have made a good buy.

Russian SKS's go for about 3-400$ I bought one from a guy I know for $200 plus got 120 rounds with it for free. Bought an AK mag from same guy for 10$
Got a good deal - didn't have to pay full price. The Key was I was willing to walk away from the sale if need be.

06-09-2007, 05:23 PM	#1
Ben Hartley Senior Member Join Date: May 2006 Location: Jaffrey, New Hampshire Posts: 146	Fair Market Value Something that's been buggin' me for years: just what on earth is "fair market value?" Let us suppose that I go into a gun shop and the proprietor has a .342 GoshWottaBoomer Short Magnum stomp-action rifle for sale for $1000. I offer him $900... no sale. What's the fair market value? Same shop, same situation, same rifle. Joe Doaks comes in, doesn't even read the price tag, offers $1100, walks out with rifle. What's the fair market value? Same shop, same situation, same rifle. Jim Bloke comes in, offers $800, and the proprietor in disgust (and wanting the durn thing outta here) sells him the rifle. What's the fair market value? Well, to me, it's $900; to Joe Doaks, $1100; to Jim Bloke, it's $800. Who's right? Jim? Joe? Am I right? Why? And who says so? Ben Hartley

06-09-2007, 06:40 PM	#2
Stock Doc Moderator Join Date: Mar 2002 Location: North Middle Ohio I see water Posts: 838	I have always looked at it as if I want it then I will get it if I am comfortable. The fair market value is only a cliché. It is what you are comfortable with in all honestly. If you chase the exact gun around and put together a idea of prices based on condition and true sales not flukes, you can come up with a fair market value for yourself. Trying to make another believe it is sometimes very hard. I have told some what I felt after research and they refused to believe a item was so little because they seen someone bought the exact thing for 3 times as much. Most of the time it is not the exact same item nor even close but everyone wants to be a expert. Buy what makes you feel comfortable and always remember another will come around sooner or later and if not Oh Well. Wanting is only a compulsion that you can not control, but learning to grow up will teach you to not fall for this bad habit. I found after having two Winchester Educationals, two consecutive Gas Trap receivers and many other rare or early guns that there out there so dont feel you ahve to have one at a high price "just because Rick B __________________ If I cant fix it,, It must REALLY be broken!

06-09-2007, 10:04 PM	#7
billy spiritual counselor Join Date: Jul 2006 Location: a secret lab on the shores of lake titicaca Posts: 12,203 Images: 9 Blog Entries: 146	i always figured it meant ,what the market will bear __________________

06-09-2007, 10:17 PM	#8
TheJoker Senior Member Join Date: Jun 2005 Location: Indianapolis, IN Posts: 292	It seems to me the term "fair market value" is an oxymoron. I absolutely love old guns with historical significance or footnote. But as I "window shop" online in my spare time, the prices seem to be pretty outrageous. I'd love to eventually add an old (1800's) Colt and Winchester, but I will have to win the lottery first. It seems the speculators have been there for a while and have driven the prices up. They seem to have discovered the military collectibles. Those prices really seem to be curving sharply upward now. __________________ "Be wary of strong drink. It can make you shoot at tax collectors... and miss." -- Lazarus Long

06-10-2007, 08:00 PM	#10
SPOCAHP ANAR Senior Member Join Date: Mar 2002 Location: SC-upstate Posts: 4,097 Images: 3 Blog Entries: 4	FMV I feel is an average of what a gun will sell for. I often look at GA or AA to see what people are buying guns for. If I can get an equal or better quality for less then I feel I have made a good buy. Russian SKS's go for about 3-400$ I bought one from a guy I know for $200 plus got 120 rounds with it for free. Bought an AK mag from same guy for 10$ Got a good deal - didn't have to pay full price. The Key was I was willing to walk away from the sale if need be. __________________ Spocrest Out!..........

06-09-2007, 06:43 PM	#3
jerry Senior Member Join Date: Mar 2002 Posts: 10,899 Images: 9 Blog Entries: 1	Doc speaks words of wisdom. My own philosiphy, something is only worth as much as someone is willing to pay for it.

06-09-2007, 06:51 PM	#4
Mr.Wolf Member Join Date: Nov 2004 Location: A Caribbean island Posts: 48	I quite agree Jerry....I quite agree.

06-09-2007, 09:11 PM	#5
lefty o Senior Member Join Date: Mar 2002 Location: mn Posts: 4,812	the way i look at it, is if your willing to pay what the seller is asking, then that is the fair market value.

06-10-2007, 07:51 PM	#9
Dookiebutt Senior Member Join Date: Feb 2005 Location: America's North Coast Posts: 1,163	Well, fair market value can be what someone else says it is. For example, I'd never pay blue book for a car, but that's a reflection of market value. Similarly, I'd never pay Ebay prices for gun parts, but that's reflective of market value as well. You can spit out the dictionary explanation of a willing buyer and willing seller, neither having blah blah blah. There is still more to it.