Found Reising at Fort Knox Need Help!

[prowler]

I just made agreement with one of former dealer in Louisville, Ky to transfer a Harington & Richardson Reising model 50 with have four magazine, case and some other things S/N 105XX gun is look like new but the case look very old.
I did agree to pay $5,000.00 but did not pay him yet due, to his FFL was expired in 2005, and he never paid SOT in 2005 either, because he was, retired closed his gun shop, gun still in the form 3, I did not know if I can get it transfer on form 3 or not.

Anyone know the rules please give me some advise before I pay him.

 

[tony k]

OK, two possibilities here:

--The most probable is that it is indeed transferable. Since his SOT has expired, even though he acquired it on a Form 3, it must transfer to a dealer in your state on a $200-tax-due Form 4, and then from your dealer to you on a second $200-tax-due Form 4. So you need to factor in $400 in transfer taxes + shipping costs to your dealer + whatever fee your in-state dealer charges you.

--There is a slight, remote chance that the Reising is actually a pre-1986 dealer sample limited to sale to other SOTs. To do so, it would have to have been exported at some time, and then re-imported to the U.S. between 1968 and 1986. BATF would approve the transfer via a Form 4 to your in-state dealer, but would then deny the transfer from your dealer to you, because you do not hold a valid SOT.

BATF will only release the status info to the current owner (the seller). So there is no way to check it, and the only protection would be to have the seller sign a contract that if the Reising turns out to be a pre-sample, he will refund your money.

The "pre-sample" issue is rare -- the only ones I've seen so far were letter-prefix Reisings made in the 1950s -- but is something you should be aware of.

As far as value on the package, original mags go for $50-150 each dpending on type, and original Federal Labs hard cases are worth $700-$1,000 depending on condition and originality. So $5k is either fair or a bargain, depending on condition.

HTH.

 

[emerz]

Prowler, you are an SOT, correct? Then the gun would transfer to you on a Form 4 (front side only) with $200 tax paid.

 

[prowler]

Tony & emerz

Thank you for the answers. Yes, I am a 01/SOT in Idaho gun is in Kentucky, I have him fill out the form 3 going to send it in tomorrow, after I look at his license saw his license expired in 2005, he told me he report to ATF/NFA Branch, I look at his form 3 there is no sample stamped on the form, I belive it should be O.K . The S/N 10596 it should be an early gun.

emerz,

Do I have to include my pictures on the form 4 too?

 

[tony k]

I didn't know you were an SOT.

It has to go on a Form 4 since the seller's SOT has expired, but since you as the transferee are an SOT you do not need to do anything on the back of the Form 4 -- no photos, no fingerprints, no CLEO signoff. Just leave everything blank on the back -- your SOT covers it all.

 

[prowler]

TONY K,

THANKS AGAIN FOR THE INFO, I WILL DO FORM 4 AND HAVE HIM PAY $200.00 FOR THE TAXES STAMP MAIL TO ATLANTA OFFICE OR WEST VIRGINIA WHAT EVER THEY WANT.

 

[MuzzleFlash]

Hi Prowler

What is the connection with Ft. Knox? Was it a government gun? Anyhow, if the F3 has no restrictions (i.e. it is transferable), then the F4 should come through clean. Even an old case has some value.

Take care brother.
Are you getting any of this snow? We are socked in for the second time in a week!

 

[prowler]

MuzzleFlash
Moderator ,

Nice to hear from you. I have a daugther in the service, she station at Fort Knox, do the recruiting for the "ARMY STRONG" this is a new MOTO for the Army. I just visit her on the christmas holliday at the same times look around for FA/ UZI and found this Rising. It is a police trade-in sometime ago I did not know what department it came from. It is show on the form 3 this owner bought from the Police Serplus waerhouse in KY.

Yes we have some snow in Pocatello, but not in KY. I feel bad when I saw a news this moning Denver is declair as desater area. Anything I can be help let me know.