Gun Factoids

Attention Estate Administrators and Executors

If you are an estate administrator or, an estate executor, be advised of the following.

You now must have the deceased’s property appraised for Estate Administration Tax.

Estate administration tax is charged on the total value of the deceased’s estate. The total value of the estate is the value of all assets owned by the deceased at the time of death, including:

  • real estate in Ontario (less encumbrances)
  • bank accounts
  • investments (e.g., stocks, bonds, trust units, options)
  • vehicles and vessels (e.g., cars, trucks, boats, ATVs, motorcycles)
  • all property of the deceased which was held in another person’s name
  • all other property, wherever situated, including:
  • goods, (art, stamps and gun collections)
  • intangible property
  • business interests, and
  • insurance, if proceeds pass through the estate, e.g., no named beneficiary other than ‘Estate’.

Besides firearms auctions, we also provide safe storage for estate firearms as well as firearms appraisals.

Did You Know?

  • In 2000, a man from Houston, Texas killed himself whilst playing Russian roulette with a semi-automatic weapon. He did not realize that this type of weapon automatically chambered a round when the gun is cocked. He later won a Darwin Award.
  • A dragster has a top RPM of 9,000. What is the RPM of a .308?
  • 1:12 barrel twist. Bullet muzzle velocity is 2,700/sec. Therefore, 2,700 revolutions per second. 2,700 x 60 seconds = 162,000 RPM.
  • A 22.250 with a 1:12 twist at 4,100 FPS = 246,000 RPM. Nearly 1/4 million RPM. Astounding
  • Picasso used to carry a revolver loaded with blanks that he used to shoot at people, who struck him as overly dull.
  • An unlicensed gun owner may sell a firearm to a licensed gun owner. This is why we can take the fear and risk away. No questions asked. We only need to ensure we are SELLING to licensed gun owners.
  •  Over the past 50 years, gun owners have been responsible for over $2 billion in wildlife conservation in the United States due to 10% tax on guns and ammo.
  • The revolver was first created by Samuel Colt when he was 16 years old.
  • James Bond originally used a Beretta 418 until a fan of the novels (and small arms expert) told Ian Fleming that it was a lady’s gun. Fleming wrote a scene in Dr. No to detail the exchange and give Bond his now famous Walther PPK.
  • What does an executor do when there are firearms in an estate?
  • Information for Executors
  • While the Firearms Act sets out how firearms may be transferred and who may possess them, provincial estate laws determine the role of the executor. In Quebec, the Executor of an Estate is referred to as the Liquidator of the Succession.
  • While estate law may vary from province to province, an executor generally has the same rights the deceased had to possess firearms, while the estate is being settled. Even if an individual is not personally licensed to possess firearms, they can possess a firearm left in an estate for a reasonable amount of time while the estate is being settled.
  • An individual who is under a court-ordered prohibition from possessing firearms cannot take possession of firearms left in an estate. They can, however, act as executor and facilitate the transfer of the firearm(s) to someone who may lawfully acquire them.
  • If the deceased owner did not have a firearms possession license AND a registration certificate for their restricted or prohibited firearm they were in illegal possession of the firearm. This puts the executor at risk of penalties for possessing the firearm unless they act quickly to comply with the law.
  • To act as the executor and obtain information on the estate firearms, the executor is required to provide the following documentation to the RCMP Canadian Firearms Program (CFP), form RCMP 6016 Declaration of Authority to Act on Behalf of an Estate and confirmation that the registered owner is deceased, the death certificate, or letters of probate, or a document (on letterhead) from a police department or coroner.​
  • The Toronto Sportsmen’s Show is on from March 16th. to the 20th. Make sure you go to the right place as the venue has changed. International Centre 6900 Airport Road Mississauga, ON.
  • You will need a firearms license to buy guns. If you are in the GTA and wish to complete the Possession and Acquisitions License course (PAL), go to York Regional Firearms Academy or, click here.

Contest

  • I am looking for the best Chuck Norris jokes. The best as judged by our staff, will win a $50 credit for any auction item.
  • Simply tap here and submit your entry in the comments box.
  • First one in.
  • When a zombie apocalypse starts, Chuck Norris doesn’t try to survive. The zombies do.
  • Just in from Justin Hornby. Chuck Norris does not recognize the periodic table. The only element he knows is the element of surprise.
  • This from Art Waite. Whenever Chuck Norris gets a cold, he Gargles with Buckley’s!
  • This from Sam Orez. There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.
  • From Rob Carzeri. They once made Chuck Norris toilet paper….It didn’t work though, it wouldn’t take s**t
  • From Joe Karella. Chuck Norris died 20 years ago. Death doesn’t have the guts to tell him yet.
  • Here’s a contender from Steve Brylinski. Outer space exists because it is afraid to be on the same planet as Chuck Norris
  • From Vince Mac D. Chuck Norris is so tough, his shadow has muscles. Actually Norris was slapped in the face and told to step outside by Actor Chuck Zito.  At the time, he was a member of the Hells Angels. Norris wouldn’t go.
  • This from Rick. Chuck Norris has a bear rug in his living room. Actually it is a real bear, its just petrified to move.

Gun History

The Winchester Repeating Arms Company was founded in 1866 by Oliver F. Winchester who began in business making men’s shirts. Something like the high tech industry of the 1980’s and 90’s, the firearms industry drew all kinds of companies into it. Winchester attracted venture capital and bought controlling interest in the Volcanic Repeating Arms Company from two inventive gentlemen…wait for it…Horace Smith and Daniel Wesson.

Winchester continued to refine his firearm designs with inventors Benjamin Henry and Nelson King and in 1866, the Winchester Repeating Arms Company was born.