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Published on February 16th, 2016 | by Patti Fowler0
GunBroker.com Toolbox: New, Comprehensive Pricing Report Delivers in Seconds
Scenario: A customer comes in your store with a firearm he found while going through his grandfather’s estate. It’s a fairly common gun, but looks to be in really good condition–“Gramps really took care of his stuff, you know.” The customer looked up the gun on the Internet and among several listed, he found one on which the asking price was $2,200. His eyes are gleaming with visions his must be worth a stack of Benjamins. Of course, he didn’t notice the listing ran for a year, and the gun hadn’t sold. He wants you to sell this one for him on consignment, and he wants at least that much for it.
Your Reaction: “Uh, oh. He’s going to be one of those customers.”
How do you prove to this guy the price he saw was not a realistic market value at which to list the gun?
Look no further! GunBroker.com has created a new report called the Pricing Analytics Tool. In a matter of a minute or so, you can show him the average price, plus data points for all the real sales of that precise make and model on GunBroker.com in the last 12 months.
Accessing the Reporting Tool
First, log into GunBroker.com. Click on “My GunBroker” on the drop down “Welcome” menu. Next, click on “Tools” under the “My Account” tab in the menu on the left side of the page. Then click on “view” across from “Generate Reports” in the center of your page. Scroll down until you see the copy below “New Pricing Analytics Tool: …” and click on the green button “Generate a Pricing Report.” (To view reports you’ve generated in the last seven days, click on Report Downloads.”)
Fill out the form using the following criteria:
- Condition * (required): New or Used
- Manufacturer * (required): from the drop down menu
- Model * (required): from the drop down menu
- Series (Optional): from the drop down menu
- Caliber/Gauge (Optional): from the drop down menu
Once you have entered the information in the form, click on the box to agree to the charge for the report ($1.99) and then click on “Run Report.” It can take up to a minute to generate the report depending on the amount of available data.
* If a manufacturer/model has not sold in the last 12 months, it will not be available in the drop down.
What Does It Cost?
The cost is only $1.99 per report.
The first report below is for the Glock G22. You can immediately see at the bottom that the average price this firearm sold for was $350.63. Each green dot represents Glock G22’s sold at that price point. The quantity is shown on the left side. So a quick guesstimate is that about 98 were sold right on the average point of $350.63. Variances are most often explained by the actual condition of each firearm which could range from a “parts gun” to “as new in box”; customizations to the gun; and/or package deals that could include optics, ammo, and accessories with the gun.
The second report is for a Remington 1100 Competition 12 gauge. Again, you can see immediately that the average price was $879.50. The green dot at the top of the average price line represents two sold within dollars of that average price.
In all fairness to the customer, it is easy to see him only looking at a price somewhere on the Internet, his brain goes Cha-Ching, and he doesn’t see the fact it has been listed for more than a year but still hasn’t sold! It is up to you, as the expert, to educate your customers. This new pricing tool will give you readily available sales data that will show your customer the realized current market value.
P.S. Please note that as the GunBroker.com site is redesigned this year, access to this location may change. We will keep you up-to-date if/when that change becomes effective.