Is it criminal to buy guns just to resale at a (high) profit?

[cvpadge]

Yeah I like to think I am always "trading up" to get something a little better (in my eyes) that I want. But then something I really,really want comes along and I will way overpay to get it. Always happens.

this... I wont trade down.. ever lol

 

[TresMonos]

It's always been illegal to buy firearms for the express purpose of reselling as a "business" without having an FFL..... As previously mentioned, proving this is a bit complicated.

Not against the law to turn a profit, but you have to follow the laws to do so

Yup, and if I decide I want to buy something, then once I buy it I decide to sell it because it's mine and I want to then I can do it....it's called a free market.

 

[jlcnuke]

No. If someone pays the seller's price, it wasn't too high. Problem today is everyone how gets all wrapped up with how much money other people make.

"The term “engaged in the business” as applied to a dealer in firearms means a person who devotes time, attention, and labor to dealing in firearms as a regular course of trade or business with the principal objective of livelihood and profit through the repetitive purchase and resale of firearms."

If someone is buying firearms for the principle objective of making a profit without having an FFL then they are violating federal law. That was the question asked by the OP, not "is it immoral to sell when prices are high?" The answer is yes, it is a violation of the law, but most people are unlikely to be prosecuted for it without law enforcement seeing a lot of evidence to support the case.

 

[offbeat404]

 

[woodstock]

I won't ever have to worry it, my motto has been buy high and sell low.

 

[Lockout]

If profit is more then 400 bucks a year you must report as income with IRS....

Example

I buy a TV from best buy and paid 1500 bucks new, and 3 days later I sold it to someone for 2000 bucks I have to report that 500 gain and pay tax on it

 

[CAMSDADDY]

I agree I'm pretty safe I always take a hit

 

[Laufen]

It is illegal to engage in the activity of selling guns with the intent of doing so for profit without an FFL.

 

[captdave77]

If you have a firearm sitting in the safe and sell it at current market price, there is no problem regardless of how much you paid for it.

If you are the lucky guy at the WalMart gun counter and buy a firearm for the purpose of selling it, that is a different story.

 

[Shovelhead]

More then one profiteer hanging around....