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Discussion Starter · #1 ·
Friend of mine who is a blackpowder enthusiast is responsible for a collection left by his father in law.
I have been helping out with some of this and at the same time acquired some nice pieces at fair prices.
There was a complete Luftwaffe drillling that I cautioned him about as having a lot of value.
I was following the one at Rock Island and told him about it-he said he was meeting a local guy who collects these-I told him to wait til the auction was over and be careful of the guy he was seeing.
I found out this week the gun went for over $20,000 and was excited when I got to work and told my friend. He responded that he had "just done a deal with the guy for $8,000."
I had nothing to gain from this but feeling really stunned that somebody could be this thick headed. The guy who got it knew the score.....
 

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Probably, but like most things, the ones at Rock Island seem top of the line in price?

Would depend a lot on the model, condition etc.

But yes, it is amazing how many folks never listen to common sense....

Ed
 

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He inherited the gun and grabbed some cash. To him it was free money. Stupidly he did not realize the true value even with your help.

if in fact it as you say, that he is a caretaker of an estate, he has failed to perform his fudiciary duty and is truly negligent in a criminal way.

It's possible you will be happy he did not take any of your good advice as no good deed goes unpunished. Jerry Burney
 

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Discussion Starter · #4 ·
I know all about Rock Island and other auctions...been fooling around this arena 50 years. What I figured was that it would go for about 10-12.
He did not inherit the stuff--It belongs to his mother-in-law. He is responsible for selling the collection.
She got more than she thought she would but less than half what she could.
I have resigned from mentoring this idiot. I have known him for 35 years.
 

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Mike, I didn't mean anything negative, was just trying to make your friend seem less stupid, uh, I mean less quick on grabbing some money and not listening.

Ed
 
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Mike,

It goes beyond just "free money". He may be personally liable for the true value as a fiduciary of the estate. If it were me, I would contact the widow and/or her attorney let them know what is going on. It is simply criminal to stand aside and let some "idiot relative" sell off a collection for less than half value if that is what is going on. It is not fair to the widow to let it go on, and by interferring now you may keep him out of VERY hot water later. As an attorney, I have seen people end up in jail for failure to act as a fiduciary and fraudulent transactions such as this. One situation I know off involved a gun collection worth over $100,000 that ended up being sold for about $2,000. That fiduciary went to prison folks!! What your friend is doing is sounds like it is bordering on fraud and violating his duty as a fiduciary, and something should be done before he ends up facing criminal charges for being an idiot.

Just my opinion.

Malcolm
 

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Dear Mike:

Some people are hard to understand and some are even harder to make understand. My advise is that if this fool is dead set of giving a gun collection away, you should step up to the plate and take all he wants to give.

You tried to help him and he did not listen to your advise. The way I look at is that if a good deal is going to be had, who better than a friend get it, right?

Regards,

George
 

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Discussion Starter · #8 ·
Just another sad story, I guess-I have a number of guns from this collection ranging from a decent T97 Jap sniper, T-2, T-44, '03 A1, and others to several blackpowder repro's-I put out some money for this stuff as it was in a collection for a long time and some good stuff. I can not cheat a friend. I do not know why he went stupid on the drilling. I even showed him the listing where they were estimating 10-15 thousand.
I don't mean to say you are suggesting cheating him-I got about all I can afford.
I am trying to retire to my little farm and I keep accumulating more stuff.
The drilling was aquired in Japan in the 50's from another career officer who got it in Germany.
There is a decent mixmaster luger-would be a good shooter. They are presently hanging on to it.
One of them gun stories....
 
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