C&R Operations and New ATF Rule

[oscarlovel]

I have had a C&R 03 FFL License for 20 years or more. I've bought, enjoyed and sold C&R Firearms as my focus and tastes changed over the years. This has never been about making money or as any form of making a livelihood, so I never worried. Occasionally I have made a few bucks on the sale of one gun and invested the proceeds in another to upgrade my collection. Inflation accounts for most of the increase in value. Now with this new rule from ATF that "being in business" is defined as the intent to make a profit, where does this leave the C&R Collector? What are the ramifications if I decide to downsize my collection or need to liquidate part of my collection. Am I now being denied the ability to use my investment unless I get an FFL 01? Years ago, I thought about getting an 01, but during the Clinton years they cracked down on home-based FFL's and I was told you needed a storefront. So now, I am not even sure that I would qualify for an 01 License even if I wanted to deal with all that hassle. I know that I am probably not the only C&R holder with these questions, and no, Google has not "been my friend". Hoping someone here can shed some light on this. Thanks.

[Hellcat1]

Originally Posted by oscarlovel

I have had a C&R 03 FFL License for 20 years or more. I've bought, enjoyed and sold C&R Firearms as my focus and tastes changed over the years. This has never been about making money or as any form of making a livelihood, so I never worried. Occasionally I have made a few bucks on the sale of one gun and invested the proceeds in another to upgrade my collection. Inflation accounts for most of the increase in value. Now with this new rule from ATF that "being in business" is defined as the intent to make a profit, where does this leave the C&R Collector? What are the ramifications if I decide to downsize my collection or need to liquidate part of my collection. Am I now being denied the ability to use my investment unless I get an FFL 01? Years ago, I thought about getting an 01, but during the Clinton years they cracked down on home-based FFL's and I was told you needed a storefront. So now, I am not even sure that I would qualify for an 01 License even if I wanted to deal with all that hassle. I know that I am probably not the only C&R holder with these questions, and no, Google has not "been my friend". Hoping someone here can shed some light on this. Thanks.

Good question! From one C&R holder to another, I can't help but wonder if you can get around this issue/potential problem by limiting your sales (for the most part) to fellow C&R holders?


Frank