FFL Selling a personally owned Handgun - Question

This is a discussion on FFL Selling a personally owned Handgun - Question within the FFL Dealer Discussion forums, part of the Related Topics category; I have a firearm that I owned prior to getting my FFL. About 2-years actually. What is the proper way to sell it? I am ...

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Thread: FFL Selling a personally owned Handgun - Question

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    Distinguished Member Array Diddle's Avatar
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    FFL Selling a personally owned Handgun - Question

    I have a firearm that I owned prior to getting my FFL. About 2-years actually. What is the proper way to sell it? I am unable to get a good solid answer from the material that was provided to me by the BATFE and I can't get in touch with my Industry Operations agent. My I sell this off-site? (think meeting the buyer half way between locations) Is a 4473 necessary for this transaction? What or the bound book / 4473 requirements? I know I can't do a 4473 off-site but I thought it would be worth mentioning.

    Thank you in advance for your time, knowledge and patience!

    D~
    Diddle
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    VIP Member Array WrongRecroom's Avatar
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    Not a lawyer or FFL ..

    But when I have seen ads from FFL they say they are selling it as a personal gun so not 4473...

    Unless it was on the books or such I think you should be ok ... Ie would a inspector have a reason to ask where did this gun serial numbr ..... go ?

    It is a gun you own and not part of your FFL ..

    But again I would ask your person to make sure ...
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    Distinguished Member Array Diddle's Avatar
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    WR, I am total agreement but I just don't want to do something wrong. Thank you for you post!

    D~
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    Diddle
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    VIP Member Array WrongRecroom's Avatar
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    Quote Originally Posted by Diddle View Post
    WR, I am total agreement but I just don't want to do something wrong. Thank you for you post!

    D~
    This seems to be the law on this 27 CFR 478.125a - Personal firearms collection. | LII / Legal Information Institute not sure if there have been any changed since then .. Maybe ask the guys who handled you ffl if this is still good to go
    478.125a Personal firearms collection.
    (a) Notwithstanding any other provision of this subpart, a licensed manufacturer, licensed importer, or licensed dealer is not required to comply with the provisions of 478.102 or record on a firearms transaction record, Form 4473, the sale or other disposition of a firearm maintained as part of the licensee's personal firearms collection: Provided, That
    (1) The licensee has maintained the firearm as part of such collection for 1 year from the date the firearm was transferred from the business inventory into the personal collection or otherwise acquired as a personal firearm,
    (2) The licensee recorded in the bound record prescribed by 478.125(e) the receipt of the firearm into the business inventory or other acquisition,
    (3) The licensee recorded the firearm as a disposition in the bound record prescribed by 478.125(e) when the firearm was transferred from the business inventory into the personal firearms collection or otherwise acquired as a personal firearm, and
    (4) The licensee enters the sale or other disposition of the firearm from the personal firearms collection into a bound record, under the format prescribed below, identifying the firearm transferred by recording the name of the manufacturer and importer (if any), the model, serial number, type, and the caliber or gauge, and showing the date of the sale or other disposition, the name and address of the transferee, or the name and business address of the transferee if such person is a licensee, and the date of birth of the transferee if other than a licensee. In addition, the licensee shall cause the transferee, if other than a licensee, to be identified in any manner customarily used in commercial transactions (e.g., a drivers license). The format required for the disposition record of personal firearms is as follows:
    Disposition Record of Personal Firearms
    Description of firearm Disposition
    Manufacturer and/or importer Model Serial No. Type Caliber or gauge Date Name and address (business address if licensee) Date of birth if nonlicensee

    (b) Any licensed manufacturer, licensed importer, or licensed dealer selling or otherwise disposing of a firearm from the licensee's personal firearms collection under this section shall be subject to the restrictions imposed by the Act and this part on the dispositions of firearms by persons other than licensed manufacturers, licensed importers, and licensed dealers.
    (Approved by the Office of Management and Budget under control number 1140-0032)
    [T.D. ATF-270, 53 FR 10504, Mar. 31, 1988, as amended by T.D. ATF-313, 56 FR 32509, July 17, 1991; T.D. ATF-415, 63 FR 58280, Oct. 29, 1998; ATF-11F, 73 FR 57242, Oct. 2, 2008]
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    Quote Originally Posted by Diddle View Post
    I have a firearm that I owned prior to getting my FFL. About 2-years actually. What is the proper way to sell it? I am unable to get a good solid answer from the material that was provided to me by the BATFE and I can't get in touch with my Industry Operations agent. My I sell this off-site? (think meeting the buyer half way between locations) Is a 4473 necessary for this transaction? What or the bound book / 4473 requirements? I know I can't do a 4473 off-site but I thought it would be worth mentioning.

    Thank you in advance for your time, knowledge and patience!

    D~
    Diddle,

    WrongRecroom's answer is current and would apply had you not owned the firearm prior to obtaining your FFL. The subject firearm was never part of your inventory as an FFL. I am assuming you purchased the firearm from a private individual or another FFL.

    It is yours to sell or trade. However, if you sell it through your business, you will need to first record the transaction as an acquisition (from yourself). If you sell over the counter, the buyer fills out ATF Form 4473, gets a background check and you record the sale disposition in your bound book.

    If you sell the firearm out of state, it should be transferred to an FFL in the buyers state where an over the counter transaction is completed by the buyer and a local FFL you send the firearm to. Obtain a copy of the local FFL's license before shipping.

    It is also possible for you to sell the firearm to a person as a private transaction. If intrastate, no 4473 is needed. Collect money in cash or USPS money order, but keep it off your books and don't record the sale disposition in your bound book (it is from your private collection and was never store inventory).

    If interstate, sell the firearm, collect the purchase price (USPS Money Order is secure) then send it to an FFL in the buyer's home state where the transfer is completed. It's still a private transaction so don't record the disposition in you bound book.

    Edit: FYI, If you have questions pertaining to Conduct of Business you can call any IO agent in any region.
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    Distinguished Member Array Diddle's Avatar
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    Thank you all of the information. I really appreciate your time and knowledge.

    D~
    Diddle
    Indusrtrial Machine Tool Technician - Certified Refrigeration Technician - CET
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