What should you do if you are handling an estate and discover a collection of firearms?
Whether one gun or an entire collection, the sale of guns can be confusing, but it doesn't have to be difficult. Auctions are an effective way to sell firearms and gun collections.
Here are some common questions we encounter as auctioneers selling firearms, ammunition, and other accessories for more than 75 years.
Is it legal to sell firearms at auction?
In short, yes. The most common types of auctions with firearms are Estate Auctions – where the executor is the seller of the items – and Consignment Auctions, where the auctioneer takes possession of firearms from multiple sellers ahead of the auction.
In either situation, what’s important is to understand how to sell guns safely and legally in Ohio.
At KIKO, we have a Federal Firearms Licensee (FFL) on-staff who understands all aspects of handling and selling firearms to ensure strict adherence to regulations. We comply with all federal firearms rules, including validating a buyer's identity and running background checks.
The Federal Firearms License allows an individual to engage in business related to the manufacture of ammunition or firearms, or the interstate and intrastate sale of firearms. An FFL holder is required to keep detailed records of firearms sales, among other requirements.
Why should I sell firearms at an auction?
As with other high-value personal property, auctions are a powerful tool to bring assets to market, create maximum exposure and quickly connect sellers with highly interested buyers who compete to purchase the firearms.
At KIKO, we have more than 75 years of experience marketing firearms to active buyers at personal on-site auctions and monthly online consignment auctions.
What do I do next?
If you need advice on the best option for selling firearms, ammo and other accessories, call KIKO today at 330-453-9187