How To Sell Inherited Guns In Texas

Friday, January 24th, 2020

Losing a loved one is not easy, and sorting through their estate and your inheritance can add to the stress. If you’ve inherited guns or firearms and aren’t really into them, figuring out what to do next can be tricky. If you find yourself in this situation, here are some suggestions for what you can do with the guns or firearms you’ve inherited.

Surrender them

You can surrender guns and firearms to your local police department if you don’t want them. But, you will likely not get any money for them. Also, some guns and firearms fall under the category of unregistered NFA (National Firearms Act of 1934) weapons. They cannot legally be inherited (or given as inheritance) so they must be surrendered to a local Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) office anyway. These items include fully automatic weapons, short-barreled rifles, shotguns, and silencers.

Go to a pawn shop

If you want to make some money from your inheritance, you can take the guns and firearms to a pawn shop. Keep in mind that these businesses want to make a profit, so they will offer you less than the items are worth. Also, if they can tell that you do not know anything about the collectibles, they may try to offer even less. If this is the option you choose to go with, visit multiple places to get the best offer possible.Sell the guns and firearms online

You can sell guns online relatively easily (and legally). In many cases, you will get the most money this way. However, you will need to be familiar with gun transfer laws in your state and other states. You will also need to be familiar with the fees the website you use will charge for each sale, as some are higher than others.

Sell the items at auction

A gun and firearm auction is a great choice, especially if you have inherited a large collection. If you need to sell other items too, an estate auction would be the best option. You will need to be familiar with the laws in your area and federal laws to sell your guns and firearms. You will also need to find a reputable auction house.

What to know before choosing an option

Before you choose one of the options above, you should know a few more things. These tips can help you make a more informed decision about what to do with your newly inherited guns and firearms.

Before you can inherit these items, they will need to be legally transferred to you. This is most easily done by working with a Federal Firearm License (FFL) and the executor of the will.

The FFL, like a licensed gun dealer, will hold onto the guns until a background check is finished within ten days.

It is important to know the difference between guns, firearms, and antiques. You can speak with a gun expert about your particular items.

Do some research before selling your guns. Learn the basics of what is popular, how to assess the condition, and talk with FFL dealers.

If you choose to sell at an auction, look into the types available and auction houses in your area.

Keep in mind that you may need to pay taxes on any money you make from selling your guns and firearms. Check with your local tax laws for more information.

If you are unsure about what to do with the guns and firearms, consult with a lawyer or estate planning professional. They can help guide you through the legalities and offer additional options for handling your inheritance.

Gun and antique firearm auctions in Texas

If you would like to learn more about how to sell your guns and firearms, contact High Plains Auctioneers. We host a variety of auctions including estate and gun auctions. Give us a call at (806) 244-6776 or Send Us an Email for more information.