Author Topic: Your Opinion on this Transaction (Read 690 times)

jvs · « **on:** March 08, 2004, 11:59:26 PM »

I came across what I think is a good investment, but I'd like some opinions.

I found a Savage Model 340 .222 Rem in mint condition, basically NIB. It is for sale at about $400.

My first impression is that this is an extremely good deal. Although I don't usually buy rifles for storage, this one might break my practice.

What is your opinion?

Graybeard · « **Reply #1 on:** March 09, 2004, 12:36:15 AM »

Unless you are just interested in it for a collector's item that's at least double what I'd pay for it as a shooter. I don't care for the side mount needed to scope them and they are getting hard to locate also. If the mount isn't with it you'll have to do a bit of looking to find one. I'd spend my money on a more modern and nicer gun personally.

GB

jvs · « **Reply #2 on:** March 09, 2004, 01:27:44 AM »

Personally, I'd much rather have a shooter, but those rifles in that caliber, 30/30 and .22 hornet are getting too hard to find in my area.

If I could find a shooter in that model and caliber for half the price, I'd be happier than a pig in 'mud'. Maybe you could sell me one. :roll:

The problem for me is that it is NIB. A fool would shoot it at this point. That rifle, in my area, would NOT loose any value from here on in I believe.

The Pennsylvania collectors seem to lock everything up over 25 yrs old. I just recently found out that the .308 Model 70 Featherweight that I bought new back in '85 or '86 is now getting a following around here (which ever was the first year name change to 'U.S. Repeating Arms'.)

I certainly won't lose anything if I bought it, not in my area, but I sure would rather have a shooter. Is $400 for NIB too much? I don't think I could touch a used Model 340 for under $325 retail, and that would be conservative.

Flash · « **Reply #3 on:** March 09, 2004, 03:08:46 AM »

Oh my gosh, I wouldn't even consider it for $400 and would take insult from the person who offered it to me for that price. I owned a 340 in 30-30 and a SAVAGE scope, yes, Savage scope in excelent condition and struggled to get $250 for it. If it's a shooter you want, get a Remington 788, it's a better investment. If it was an old Sporter in 32/20 or 25/20 in mint condition, I'd say gor for it but a 340??? Naaaaaaaaaah!

Coyote Hunter · « **Reply #4 on:** March 09, 2004, 03:34:26 AM »

That $400 and a very few more will get you a brand new Ruger or Savage at Sportsman's warehouse, Galyans, gun shows, etc. Sportsman's sell Rugers for $449 every day and last time I was in there they had some kind of sale going on which brought the price down closer to $415, IIRC.

About three weeks ago I bought a like-new Ruger .257 Roberts with a Leupold M8-4x mounted for $400 at a gun show. Considering I bought an identical scope for $100 about a year ago, and would have glady done so again, I figure the rifle cost $300. $400 sounds like way too much unless its for whatever collector value the Savage 340 has.

To each their own, but I'd much rather have a new or like-new firearm than a "collector" item.

jhm · « **Reply #5 on:** March 09, 2004, 04:09:28 AM »

The blue book value on the 340 at 100% is $225 and at 100% that means un-fired and in the original box, at $400 I would pass and and tell the seller he has a nice gun hope he enjoys it.

JIM

jvs · « **Reply #6 on:** March 09, 2004, 05:13:44 AM »

I think you guys are right although the blue book price of $225 is way too low, in my opinion.

I may make an offer without trying to insult the guy. Since I don't know what the normal mark up is on a used rifle, nor do I know what he paid for it, I'll try to low-ball and move up from there. Is the Blue-Book available on-line page by page?

One of the reasons I brought the question here is that I may get a little education on the piece before I open my mouth.

Ask a question and you're only stupid for 5 seconds, never ask and you're stupid forever. Thats what my boss used to say. (A Retired Major from the Marine Corps).

Zeak · « **Reply #7 on:** March 09, 2004, 11:01:29 AM »

I would not give the guy more than $275. I sold one in 225 about 10 yrs ago for $60 and I didn't need need to sell it either. Sort of wished I would have kept it now. The gun was around %70 with the sidemount on it but no scope. Zeak

jvs · « **Reply #8 on:** March 09, 2004, 11:34:30 AM »

What I don't want to happen is 20 yrs from now I'm sitting somewhere and find myself saying "I COULD have had one of those NIB back in 2004 for $400". What was I thinking......

I will make an offer and see how it goes.

Fla Brian · « **Reply #9 on:** March 09, 2004, 12:10:32 PM »

Those 340s are great little rifles. I've got two - .22 Hornet and .222 Remington. If you like it, then make an offer. The pleasure you get from it will be remembered long after you've forgotten the impact of the price. And, if, as you say, it's a good investment, go for it.

All those who're telling you what other rifles you can get for that kind of money are forgetting something. You can always pick up one of those, albeit not likely in .222. But, when are you likely to run into such a unique rifle again. You just don't see those every day any more. I'd love to find a 340 in .30-30 to go along with the other two. I haven't seen one in any store I've been in or at any gun show I've attended.

jvs · « **Reply #10 on:** March 09, 2004, 01:41:56 PM »

FlaBrian,

I am no stranger to the 340, I already have it in a 95%+ scoped .22 Hornet which I use for groundhogs and is why I wouldn't mind having the .222. There is NO WAY I'd even consider spending $400 for a 340 unless it was NIB. I have found the .30-30 alot more than .222 but so far I don't have a need for another .30-30. If I get this one, I sure will look for a 340 .30-30 in very good condition. Even though I like to use the firearms I buy, the .222 will be doomed to spend eternity in the dark, only to come out when my heirs do inventory.

I could give you some tips on where to look if you really want a 340 .30-30. I believe I saw 2 or 3 shooters today at decent prices.

jhm · « **Reply #11 on:** March 09, 2004, 02:19:40 PM »

Half-in-group : I will agree that the blue book price seems low, however it is just a guide as to what value a firearm has it takes all the atachment out of pricing the weapon ( AKA emotion ) if you let emotion come into the picture you will be paying too much because a old uncle had one or you had a cousin who should you how to shoot with one, it is just a tool to get both the seller and the buyer on the same page, if you like the rifle and you feel that in 20 yrs. it will be worth alot more or you really like that rifle by all means strike up a deal.

JIM

jvs · « **Reply #12 on:** March 10, 2004, 12:19:05 AM »

Quote from: Graybeard

Unless you are just interested in it for a collector's item that's at least double what I'd pay for it as a shooter. I don't care for the side mount needed to scope them and they are getting hard to locate also. If the mount isn't with it you'll have to do a bit of looking to find one. I'd spend my money on a more modern and nicer gun personally.GB

I'm not too sure they came from the factory drilled and tapped for scope mounts, which is why this may be a good keeper. I could be mistaking but not all rifles in that era were drilled and tapped for scopes, especially the cheaper ones. I'm sure you remember the times when you hunted with open sights and if you wanted a scope, you drilled and tapped. The 340 came out in letters 340A through 340E, I believe. Right now I'm not sure which, if any, were drilled and tapped at the factory.

Scopes are an item that went from a luxury to a necessity in the last 40 yrs.