EOY 2021 Inventory nearing completion

[Land Owner]

I am taking stock of EVERYTHING this Gun Nut has amassed and putting it, line item by line item, into a spreadsheet. I have not done this in 10 years. It is valuable to know how much the arsenal and equipment that supports it has grown. And it is important to (remember) indicate where everything is stored. Lead in the shed. Safe(s) in the garage. Primers here. Powders there.

Take digital photos of EVERYTHING. Render the photo items into words. Include the PROPER NAME of equipment, bullets, parts & pieces, etc., Mfg. stock number, and a reference from where the UNIT COST of an item was derived.

You will surprise yourself, in the first place, with how MANY items you have. You will surprise yourself further if you "Go The Distance", use the Internet, and turn the spreadsheet into an estimate of today's RETAIL COST to replace everything in your inventory. "What if" you had to buy it all - everything - at today's market value?

A number of items are discontinued (been at this a long time) or are out of stock. The price listed on the Net for any of these items is questionable. Just include what you THINK those items worth today. Most items will still be for sale, but for MORE than you paid (hopefully). Include the best AVAILABLE value you can find. After all, it is only an ESTIMATE and much better than nothing.

[SSGOldfart]

I'm not sure I would Want this information in writing that could come back to bite you.

[zarrinvz24]

Everything cost $5!

[StuBach]

I’ve been doing something similar for my Dad’s estate. My brothers and I have what we need so now the information is of value to Mom for negotiations with estate salesman. Great way to make sure your survivors are prepared for your eventual passing.

I advise including a history note piece so you can add any history information you want passed on to next generation. Several of my dads collection I wish I’d written down the story on (he was supposed to and never did).

[Land Owner]

I'm not sure I would Want this information in writing that could come back to bite you.

I possess everything I have written down. What is there left to hide? There really are no secrets.

[Bakebfr480]

I lost everything in a boating accident!

[dverna]

I do that once in a while.

The issue I have is keeping it updated. I am not very disciplined.

[remy3424]

Sounds like a great activity for retired fellas with not enough things going on to keep themselves busy. Not sure the point of this, If your family can use it, don't worry, they will gladly deal with it. If no family or no shooters, get widdling the stockpile down, selling or shooting. Estate auctions will clean things-up if you fail to.

[dpaultx]

The "Gun Collector's Prayer" . . .

Dear Lord, when I die, please don't let my wife
sell my guns for what I told her that I paid for them.

[Markopolo]

the "gun collector's prayer" . . .

dear lord, when i die, please don't let my wife
sell my guns for what i told her that i paid for them.

:d

this!!!!!!

[Handloader109]

Sounds like a great activity for retired fellas with not enough things going on to keep themselves busy. Not sure the point of this, If your family can use it, don't worry, they will gladly deal with it. If no family or no shooters, get widdling the stockpile down, selling or shooting. Estate auctions will clean things-up if you fail to.

Sure, but do you really want to sell off before you go? Everyone doesn't get months to sell off items they have. Think car wreck, heart attack or any other of the million ways we leave this earth. Why leave your family with the possibility that they will get ripped off by someone who knows nothing about casting or even reloading? Give them some semblance of current worth in 2022 dollars. Now 10 years from now things might actually be worthless the way our country has been heading.

Sent from my SM-G892A using Tapatalk

[FISH4BUGS]

You think this is difficult? Try having a bunch of NFA stuff. Disposing of those is a pain, particularly with a prohibited person in the family.

[MrWolf]

You think this is difficult? Try having a bunch of NFA stuff. Disposing of those is a pain, particularly with a prohibited person in the family.

If you had a trust set up initially, would that have helped vs an individual owning the items? Now that e-forms are being used and delay is "supposed" to be less than 90 days, I have been considering them again.

[FISH4BUGS]

If you had a trust set up initially, would that have helped vs an individual owning the items? Now that e-forms are being used and delay is "supposed" to be less than 90 days, I have been considering them again.

I am not sure that a trust is the way to go. After owning NFA stuff for many years, and seeing some of the issues that trust holders have gone through, maybe that is not the best answer.
I had a chat with an NFA savvy (supposedly) lawyer the other day and he recommended against it.
Having a prohibited person in the family complicates matters.
Re: the eForms? I'll believe it when I see it.

[threett1]

I have been very lazy concerning this. I do know I have right at 100lbs of powder. Have a binder with loads for each gun I have. A fair amount of j bullets and many cast. Enough to keep my sons busy if they desire. Can't see them getting rid of anything. And they get along just fine.

[Mytmousemalibu]

I premise of the idea, I've somewhat done this with things before. I'm not so sure I want to know and I also am partial to the boating accident theory. On the flipside, if you think its time to hide your guns, its time to get them out....

Good idea to period inspect your supplies for problems or degradation & decomposition. I recently found a pound of Accurate Arms rifle powder (don't recall which one) that was well underway in decomposition. I about had a heart attack when some of the older powders with metal lids were all rusty. I thought I had a bunch degrading. It was the fumes from the Accurate off gassing corroding the nearby cans. Keep an eye out for it, its unmistakable if it occurs.

[ulav8r]

Worked with a fellow several years ago, his stepfather had quite a few guns. While the coworker was in the service, his stepfather died. His mother sold all the guns for about $1000, including my coworker's .22LR 1873 Winchester. He said that one of the stepdad's shotgun was worth that alone, without the other 40 plus guns.

It is good for the survivors to have some idea of what they are left with.

[ascast]

yeah it also mighyt prevent you getting 4 or 5 copies of the same mold, or 310 tool. I have a friend who......

[Land Owner]

I purchased a reloader's estate in 2015, my boss' father's reloading estate, so I had a "vested interest" (professional friendship) in doing right by my boss and his mom. She was all about putting the whole lot of reloading equipment, loaded ammo, shot shell appurtenances, presses, lead, brass, etc. (but not the 40 guns) on the curb for the Waste Disposal truck to pick up - free - to the DUMP.

In 1.5 hours I took his provided photographs and descriptions and tabulated the current retail cost to replace all 40 of the guns and what I thought it would take for someone to part out the estate' guns piece by piece. He asked another friend to verify my work.

Three weeks and 15 hand-written pages later, some guns plus, some minus, his friend verified my 40-gun cost estimate to within $350 of our independent totals. My boss said he was impressed with my estimate. I told him, "You already knew, after 25+ years in our business, that I'm not just good, I'm REAL GOOD at what I do!", and that that was what he and our clients paid me professionally to do in the Rocket Science effort we worked together. He had asked me to work in my Core Area of expertise. After work, I'm a Gun Nut.

Slam Dunk from the Free Throw Line!

He invited me that day to his mother's house, where I was allowed to open the tops of, and photograph the open tops of 30 boxes of reloading stuff, including cased ammo, in the garage. I spent 4-hours reviewing photographs, making assumptions, and getting that estimate coordinated. A work associate and I partnered to purchase the WHOLE LOT, which was accepted, as mom had "had enough" and wanted it gone.

[lightman]

I started keeping a list of my guns several years ago and I try real hard to keep it current. It includes the serial number, a description and any worth while notes. Things like anniversary gift, belonged to Grandpa, ect. My guns are part of my estate plan and my Boys know about them.

I started trying to inventorying ammo and components and found it nearly impossible to keep it current and finally just gave up. But I did move everything into two places.