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In the discussion thread: Bloomburg strikes again [View all]

Response to DissedByBush (Reply #2)

Thu Dec 15, 2011, 08:35 AM

3. It is a stretch

But an NFA firearm that is not already registered can never be registered except on a Form 10 where a law enforcement or government agency keeps a confiscated weapon for it's own use.

The reason a "real" AK you can buy all over the Third world for a hundred bucks costs $12,000 on the collector's market here is it comes on an ATF Form 4. National Firearms Act (NFA) firearms that can be transferred to private citizens on a tax paid Form 4 are the most desirable and therefore the most expensive ones to acquire.

You see similar cost breaks with NFA dealer samples. Machine guns imported after 1968 and prior to May 19, 1986, are transferable to Federal Firearms License (FFL) dealers (01) and manufacturers (07) and importers who have paid the Special Occupational Tax (SOT) for the current year. A dealer who acquires a "pre-May" dealer sample and then fails to pay the SOT in succeeding years may retain the gun in his private collection. It only can be transferred to someone holding a SOT or to an approved government agency, usually military or law enforcement. An exception is made sometimes if the gun is being inherited from the dealer's estate by a family member. Our same theoretical AK-47 would be worth about 5 or 6 thousand dollars in this market.

Any machine gun manufactured or imported after May 19, 1986, can be transferred between Special Occupational Tax (SOT) payers only if they first provide a letter on agency letterhead showing that a legitimate government organization has requested to see it. This usually means a law enforcement agency or military unit. The gun can be retained by the dealer/manufacturer only so long as he pays his annual SOT. If he drops the SOT, the Bureau of Alcohol, Tobacco, Firearms and Explosives (BATFE) expects him to first dispose of, surrender, or destroy the gun. It can be transferred only to another SOT payer or approved government agency, as previously described. Now we are down to a $1000 gun.

This category has led to some interesting fictions. Like an ad for a Type 97 7.7mm Japanese aircraft machine gun for sale, as a post-May dealer sample. What agency would seriously consider buying a armament for an airplane they don't have using a cartridge no one makes? Maybe the sheriff is the SOT's brother-in-law?

"Hey Earl, how'd ya like to see something neat?"

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Replies to this discussion thread
Arrow 4 replies Author Time Post
gejohnston Dec 2011 OP
PavePusher Dec 2011 #1
DissedByBush Dec 2011 #2
LineLineNew Reply It is a stretch
one-eyed fat man Dec 2011 #3
discntnt_irny_srcsm Dec 2011 #4
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