Market Price reality check for IOF

[VSA]

Hi All,

I had a quick Q and would really appreciate if someone can please help me here. I have read a lot of articles on this forum already but I am not able to understand or take a final call. Here are my Q's, any experienced revert will really help me a lot ! Thank you in advance !

1. Local Gunsmith says that 2001 IOF Mark 1 will cost 1.35 L, reason, this is a solid and hard piece and better than what quality you get today or from the new IOF's if you purchase today.

2. New IOF Mark 3, Mark 3 Light or Mark 4 - which one is a good buy for a beginner ?

3. Should I get into the hassles of getting a TL from Delhi and then going to the Factory to buy it, is it worth the time and investment, or should I simply buy a Mark 1 for 1.35L ?

4. Please suggest if anyone would want to sell me a Mark 3 or Mark 3 Light which is reasonably old like maybe 6-9 years maximum, what would be the cost for it ?

5. I am talking about Delhi and not other states. Sorry !

Looking forward to hearing from the experts soon ! Thank you very much in advance ! Thanks.

Best Regards,

VSA

[farook]

Do check on the availability of the IOF Mark 4 revolver. If you can get it fine or else opt for the Mark 3 which I believe has a five week wait period. The light wt. Mark 3 is a ladies special titanium light wt. revolver, too expensive....

There is no hassle is getting a TL. It would one day at the commissioners office.

[VSA]

Hi Mr. Farook,

Thank you for replying so quickly and effectively !

I am getting a Mark 3 - 2004 Model, is 1.4 L a good price, kindly suggest ? Thank you !

Best Regards,

VSA

[farook]

Check these links call them asking for mark 4 and let us know.
http://ofbindia.gov.in/index.php?wh=reg_form&

http://ofbindia.gov.in/index.php?wh=Purchase&lang=en

[VSA]

Okay, one last Question...Please help me as I am very confused, please help !

Is the cost of Mark 1 2002 for 1.3L good ?

Please let me know as I am making a purchase for the first time. Thanks.

Best Regards,

VSA

[Vikram]

1. Local Gunsmith says that 2001 IOF Mark 1 will cost 1.35 L, reason, this is a solid and hard piece and better than what quality you get today or from the new IOF's if you purchase today.

That's probably because that is what he has for sale and thinks he can sell it to you.

BTW, Did you check the prices on this link. Ask yourself a question why you are being asked to pay nearly 50% more on the price indicated in the links that Farook provided? Why not apply to buy it from the IOF directly?

Have you gone through this thread?

http://indiansforguns.com/viewtopic.php?f=12&t=86

[farook]

Is the cost of Mark 1 2002 for 1.3L good ?

For the seller Yes he would be making a lot of profit out of it. The only reason why one buys a used weapon is if one does not want to keep it over the next five year, yup anything out of the factory is yours only for 60 months from the date of purchase.

Do let us know about the booking statues of the Mark 4, many IFG members are waiting for it.

[VSA]

Hi Guys,

Thank you for the reply, yes, I have checked on the IOF website and I can see that the new Mark 3 is for 90K or so and maybe add another 20 K if I travel by Air from Delhi to get the gun and transport it back to Delhi.

I also understand that I will get a brand new only 5 year lock-in revolver for 110K maximum. The only point that I had was, is it worth the hassle as my licence is Delhi only, UP to be added next year or so, I wanted your views if it is a good idea to buy a Mark 1 2002 for 1.3L for now and then, once I get UP State added in another 1 to 1.5 Years, I can then sell this one and buy a brand new one, without too much of a hassle of the NOC or TL etc...

Also, I have just got my licence this Month and I am a beginner, so I wanted your opinion as a beginner, would buying a Mark 1 be good and then switching to maybe a Pistol or a brand new Rev. after experience of about 1-2 Years ?

Please advise, I will be very thankful for your expert insights ! I have read almost each and every thread on this Forum in the past few months. I started reading from May, when I had applied for an Arms Licence and then all the while, even till today, I visit this site regularly and check on articles to understand things on weapons and license issues that people faced. Infact, I read the entire piece of Arms Act and there was an article where (sorry for not remembering the name) someone had put in point by point pdf docs on the steps and what the Local Police does for verification and entire Arms Rules Pdf.

Kindly advise on my questions and thank you once again ! Some day, maybe even I will become a Pro and advise others like you all are doing, it is a great thing to do ! Thanks.

Best Regards,

VSA

[farook]

Ok Guys called up the Kanpur factory, online booking for the IOF Mark 4 revolver has started. It has a five month waiting period, take my word for it Worth the Wait...

[farook]

Would suggest you buy a new IOF mark 4 revolver or Ashani pistol. Personally I am into pistols just feel more comfortable with them. But that's just my personal preference. You may also want to check if Dr. Karan Singh Range has .32 ACP or SWL ammo for sale. Some of the NRAI affiliated ranges sell them subsidised, you need to return the empty cases though.Then we can shoot a lot more. In my range as ACP is not a ISSF certified round we don't have it so I am limited to 100 pops a year. We do have .32 SWL though.

You may also want to consider that SWL does not have a muzzel volocity of a ACP. While the former is 775 ft/sec the latter is a much better 950 feet/sec.

Buying a used one is in no way a good choice. Used IOF pistols had a market like two years back when the wait list for a new one was one year. As of now you can get a new one in less than three months.

There really is no hassle in obtaining a form 7 for transport of weapon. At the commissioners office its a day work. Dont let the process of booking be a deciding factor .

Ultimately its your decision.

[VSA]

Hi Farook,

Thank you for your revert !

Really helpful. I will go for a new one for sure, probably a Pistol next time. For now, since I am a beginner, can you please give me an answer to the below 2 last and final Q's as well !

1. Is buying a Mark 1 2002 for 1.3L okay, based on the current market, if it is a nice one or rarely used one ?

2. Please advise based on a re-sale value, Eg. If I need to re-sell it after 1 or 2 years, what will be the value of a Mark 1 2002 model in the market or what will a Dealer pay me for it ? Kindly advise.

You can maybe PM me, if you do not wish to reply openly, but please help !!!

Sorry to bother you with this, need your expert advise though ! Thanks.

Best Regards,

VSA

[farook]

1. No don't buy used weapons you never know what they have been through.

2. Resale value is not much firstly no one would want a weapon that old secondly the mark 4 is what every Revolver buyer is after.

It appears that the seller of mark 1 has told you a lot.

To put your question in this way. Considering that you would be using your next car atleast for the next five years, would you buy a ten year old model for the price of a new one for the reason that you don't want to wait for a few months. The car might give way at the beginning of a holiday and mess things up.

[dany]

Mark 1 is not worth buying..coz mk3 or 4 r far more superior in finish nd has modifications.

[farook]

Dany bhai tell us about your experience with mark 3. How many shots fired

[VSA]

Thank you very much Guys !

Your replies really help !!!

Thanks a ton ! Thank you !