Go to machine gun price guide.com or usautoweapons.com. Both have brief explanations of what you have to do. See if you can find a copy of "The Machine Gun Dealers Bible" by Dan Shea (Small Arms Review), or "Machine Gun Buyers Guide and Owners Manual" by Frank Iannamico. Visit Subguns.com, Sturmgewehr.com, and Autoweapons.com . After that you will be able to ask some questions and know if you are getting stroked or not. A first class MP5 is in the $17K to $19K range. If you can't swing that, buy a sear and wait for the gun. Sears have dropped a little and there are alot of them for sale now, my guess is people need cash now. They will go back up when property rises again in the spring (I hope). Don't know where you are but the SAR show is coming Nov 30 in Phoenix. Knob Creek Shoot is coming up. Let people know where you are and they can point you to local people and places.
-Find a class III dealer in your state who's willing to do transfer
-Find the weapon you want and buy it (MP5 around $15,000)
-Give the seller your dealer's info and let them sort out the transfer to your dealer
-Get two sets of fingerprints (FD-258... standard FBI fingerprint card) & two 2" x 2" photos done while waiting on dealer to dealer transfer... also, find out which Chief Law Enforcement Officer in your area will sign off on a form 4 to transfer to you an NFA item (chief of police if living in city, sheriff, judge, etc...)
-Get form 4 from dealer once weapon arrives with his info and weapon info done
-Finish your portion and get that CLEO signature we talked about earlier
-Mail in to BATFE: Form 4, photo, fingerprints (all in duplicate) and drop in $200 check
-Wait for dealer to tell you Form 4 has arrived approved
-Go pick up your copy of Form 4 and weapon
This is basically it, I think... those websites listed above should give you a good idea of availability / price of MP5s out there...
This is for transfer of NFA item to individual (which, if no problem with getting CLEO signature, is actually pretty simple)... there are methods of transfer to a "living trust" in your name or a corporation with you as the CEO which don't require fingerprints, pictures or signature (trust or corp. being a non-living entity, can't have a fingerprint!) but then the weapon technically is owned by that entity. Many people have done this route with at least some success, so I won't discourage it by any means, just not the route I took.
Aaron81 pretty much covered all the bases, my only comment is that you'll have to be patient to find one for $15,000, and if you do, jump on it fast. Most of the ones I've seen lately are going for more like $17,000-$18,000, but I have also seen just a few under $16,000.
Be patient, but don't wait too long. They do keep going up.
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