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Good deals can still be found

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Bear43

Good deals can still be found

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Posts: 990

Nov 5 12 10:18 AM

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While at a gun show this past weekend I saw a couple things that gave me a little hope. One was a very nice 24/47. Nothing special, just the average nice Mauser. The seller was asking $125 for it. Not bad at all. Then I saw a very mint M48. It was one of those gorgeous Cherry imports. Seller was asking $300 for that one, I felt that was fair since it was so incredibly nice. No, I didn't buy any, I'm embroiled in a bankruptcy at this point so all I can do is look. Still, it gives one a little hope for the future.

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nothernug

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Posts: 13359

Nov 5 12 10:50 AM

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Bankruptcy! Agghhh. Been there, done that. Nooo fun. In my case, they said I could only keep two guns. In Texas law it's felt guns are a necessity to maintain home & hearth. Unfortunately, more than two is considered a "collection" and investment material. Fortunately, I sold them, to an aunt (Completely legal sale for real estimated value.) and she let me get them back later when things stabilized. Of course, I am a poor man in a rich man's game so as a bottom feeder my "collection" wasn't/isn't very large and wasn't/isn't worth overly much. It is largely pared down to things I really don't want to part with.

If you're in a similar situation, this might suggest something to you. You just have to make sure to complete the sale and that whoever you sell to will let you get them back. smiley: ohwell

As for the bargains, the economy is making them. People having to sell off some to keep a roof over head or bread on the table and on the flip side pinching what people will pay for things.

Myself, we just spent the family fortune (Not saying much) on building up a wood work shop in the barn. Then there were on Gunbroker two very nice rifles, both Yugoslav Mod98 reworks- a RAD 124 or 145 (I forget which) and a Block font TRZ-hyphen-5 with second style crest. Both sold for about $300 but I couldn't touch them right now. Sigghhh, Agghhh!!

Anyway, hang in there and good luck with your financial situation! I hope you don't have to lose anything especially valuable to you.

If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen.
Sam Adams

Bear43

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Posts: 990

Nov 5 12 11:28 AM

Veteran member

Here in South Dakota I am allowed to keep $4,000 in personal property and they don't specify any certain number of firearms or anything like that. Still, I am working out a deal just as you described, a legitimate sale of the heirloom pieces to a few family members. Rather they go to them for the time being. One day when I am back on my feet they have said I could buy them back. By the time it's said and done the only things I am planning on having in my gun cabinet are my muzzle loaders, which don't have a lot of value to them. The thing that has me worried is all my automotive tools and parts. Thankfully I don't own a house or anything major like that so I don't have any worries there. Still, it's a stressful ordeal.

The way I have been looking at it is the stuff is mostly immaterial. Yeah, it hurts to sell the guns but I am thinking in time when things turn around I can replace most of what I had with better specimens. Next time I think it's going to be more about quality instead of quantity.

nothernug

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Posts: 13359

Nov 8 12 5:17 PM

Forum Site Moderator

I never had the luxury of funds to accumulate so even though I have only a very few items that are $/valuable, enforced careful selection meant most of the few I own are carefully selected as important to me. That makes it tough.

If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen.
Sam Adams

dogngun

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Posts: 293

Nov 16 12 12:16 PM

Nothernug, I've gone through bankruptcy and long ago come out the other side. It's worth the trouble, just hang in there and don't believe the horror stories.

Good luck.

mark

nothernug

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Posts: 13359

Nov 16 12 2:33 PM

Forum Site Moderator

I'm not the one going through it now. I too have been there and come through. But, I do believe some of the horror stories because it took something like 3 years before they got around to finally closing our case. I can tell you some of those horror stories.

But, pain that it was, it was still better than the alternative- we were able to keep our home, only just.

If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen.
Sam Adams

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Bear43

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Posts: 990

Nov 16 12 3:19 PM

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In my case what helps in a way is that I'm single, so filing as an individual is a bit simpler. And considering I have no stake in a business and have no real estate at all I was told that once the papers are filed mine should close out pretty quickly. Now to finish wading through that mountain of paperwork

Gabreski 1st FJ

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Posts: 333

Nov 22 12 9:24 AM

nothernug wrote:
Bankruptcy! Agghhh. Been there, done that. Nooo fun. In my case, they said I could only keep two guns. In Texas law it's felt guns are a necessity to maintain home & hearth. Unfortunately, more than two is considered a "collection" and investment material. Fortunately, I sold them, to an aunt (Completely legal sale for real estimated value.) and she let me get them back later when things stabilized. Of course, I am a poor man in a rich man's game so as a bottom feeder my "collection" wasn't/isn't very large and wasn't/isn't worth overly much. It is largely pared down to things I really don't want to part with.

If you're in a similar situation, this might suggest something to you. You just have to make sure to complete the sale and that whoever you sell to will let you get them back.

As for the bargains, the economy is making them. People having to sell off some to keep a roof over head or bread on the table and on the flip side pinching what people will pay for things.

Myself, we just spent the family fortune (Not saying much) on building up a wood work shop in the barn. Then there were on Gunbroker two very nice rifles, both Yugoslav Mod98 reworks- a RAD 124 or 145 (I forget which) and a Block font TRZ-hyphen-5 with second style crest. Both sold for about $300 but I couldn't touch them right now. Sigghhh, Agghhh!!

Anyway, hang in there and good luck with your financial situation! I hope you don't have to lose anything especially valuable to you.

They actually brought the guns into your bankruptcy? Pfft my wife and I just went through one and my guns were never brought up. (primarily because I told our lawyer that it wasnt an option). No one was getting to them to inventory them and if they tried they would suddenly vanish to a safe location

I can replace my household goods but not the memories blood, sweat and tears in my gun and ww2 collection.

"It does not take a majority to prevail ... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." --Samuel Adams Hey ive got a novel idea. Lets legalize freedom.

nothernug

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Posts: 13359

Nov 22 12 12:18 PM

Forum Site Moderator

Yep, the operative word is "collection." They consider any "collection" an "asset" and as such convertible. At least they allow you to keep 2. Frankly, had I known that I'd have buried the bloody things before filing. Actually, if you want to be technical, they think of that too. Any substantial asset eliminated within 6 months of filing is scrutinized and they make sure you don't have something squirreled away to keep them from getting it.
Thorough 'so & so's.' smiley: eyes

If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen.
Sam Adams

Bear43

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Posts: 990

Nov 23 12 9:48 AM

Veteran member

Yep, if it has value it has to be listed in the papers. It's the same thing here with eliminating substantial assets within a certain period before filing. I do have the proof that the stuff I sold went to paying the lawyer though, so no issues there. It's funny how that even though bankruptcy is handled in Federal Court the individual States have varied laws as to what is exempt etc.

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Good deals can still be found

Good deals can still be found