Ed's guns

[Demosthenes]

Ed's gunFeds want Browns' weapons cache
Couple's friend got them from storage

By Margot Sanger-Katz
Monitor staff
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June 15, 2009 - 12:00 am

The 30 guns Ed and Elaine Brown handed over to federal marshals after their arrest for tax crimes in 2006 were picked up from storage by a Weare man who told the gun shop holding them that Ed Brown had signed over ownership.

Now federal prosecutors want to investigate whether Bernie Bastian, a close friend to the Browns who visited them often during their months-long Plainfield standoff, should be allowed to keep the weapons.

Read the rest here:

http://www.concordmonitor.com/apps/pbcs ... /906150303

[Doktor Avalanche]

[Lambkin]

Would it be correct to assume that a gift of this sort of value would be reported by the recipient for tax year 2008?

[LaVidaRoja]

No. A gift is reported by the donor. IF this stands, E&E now have delinquent 709's. No tax would be due, but there might also be an issue of deliberate depletion of the assets that could be used to pay their outstanding tax liabilities. I believe that is called a fraudulent transfer.

[ErsatzAnatchist]

A couple of things crossed my mind when I read the article.

First: The gun shop charging $6000.00 for the storage of the guns for a couple of years seems to be a bit high. Seems to me an evidence room would have been a better place to store them. Once they were convicted, why didn't the .gov take possession of the guns so they could be dealt with appropriately.

Second: If I remember the list of guns, I doubt they could have been sold for $6,000.00. I wouldn't have paid that much. The .gov was saved the cost of paying the storage. Other than the embarrassment factor, this looks like a win-win.

BTW, Demo or Scoop, can you post a list of the guns. I cannot track this one down on Pacer (apparently my Pacer-Foo is weak ).

[Demosthenes]

http://www.cheatingfrenzy.com/brown17.pdf

[ErsatzAnatchist]

Thank you Demo.

I stand my my "appraisal." The .gov would have gotten about $6,000.00 for that lot at an auction or selling to a gunshop. There is a lot of crap in there, and only a few items of more than modest value.

[Mr. Mephistopheles]

(I goofed up my first attempt at posting so bad, that I decided to start fresh. That's what I get for multi-tasking.)


I agree, there is some crap and an assortment of rather pedestrian pieces. However , just the .50 cal. long range bolt action rifle (Barrett?), two Colt .45 Autos, Benelli SPA shotgun, and the Winchester M1 carbine will easily surpass $6000. (In decent condition.)

If the Winchester 30-30's are pre-1964 the pair would probably account for at least another $1000. If they're early models they might bring that each. More detailed model and date of manufacture is needed for a more accurate assessment and might yield other valuable pieces.

[Scoop]

There's a more detailed typed list in the court record somewhere. But I don't know how to post a pdf.

[Demosthenes]

There's a more detailed typed list in the court record somewhere. But I don't know how to post a pdf.

Either send it to me or let me know the docket number.

[Scoop]

I believe it's included in docket number 294. Although, now that I review it, I see it does not include the years of manufacture.

[Demosthenes]

http://www.cheatingfrenzy.com/brown294.pdf

[ErsatzAnatchist]

I did not realize that there were two fifty caliber guns. One is a Hawken percussion black powder gun which has a very limited value ($200 tops). I missed the .50 Cal. bolt action gun, which is easily worth $1,500.00 even if it is a crappy model and possibly four times that much for a high end gun.

I think both Winchesters are pre-64s, but in average condition they are worth $500.00 each. The two m-1 Carbines are commercial models valued at under $400.00 retail. The Benelli is a NOVA, which is truly a low end Benelli.

I should stop now. You know how much Demo hates it when we boys talk about guns.

Given that I missed the .50 Cal. bolt gun, I will go to $8,000 resale value.