I've done several transactions, both buying and selling and here are some of my experiences.
Cons:
- You can't see the gun. Sure, pictures can be sent but a seller may leave out a little nick here or a little ding there. It's also difficult to see the true "tone" of a wood stock without seeing it in person. Pictures help, but sometimes the flash or the lighting will alter is slightly.
- Your taking someone's word on the condition of the gun. While one may think it's Excellent, another may only rate it as Very Good. Usually the seller is the one giving it the higher rating. Same goes with a 99% vs. 92% gun. It's all subjective opinion so it's hard to gauge.
- Shipping. UPS is hell on a firearm. I've had much better luck with the USPS. Also, INSURE your shipment. It's pennies on the dollar to ensure your gun gets to you in perfect condition. You're also at the mercy of the seller and how they package things. If someone has good feedback on several transactions, most likely they know what they're doing. You're normally going to pay about $20 - $40 more for shipping though.
- FFL transfer. Most places with charge you a fee to transfer the gun. I've seen free while others charge up to %10 of the value of the gun on a $2000 gun. ($200!!!). Find a reputable FFL in your area that is a good person to not only do business with but who also is a good person. Build up a relationship and they will usually take care of you.
Pros:
- Price. Pricing on the internet, in my opinion is open to some of the best deals you can find. I've gotten what I feel are some of the best deals on the internet that you just can't find at a local pro shop. I've found guns for half their value priced on the WWW and have been very happy with my purchases.
- Selection. You can see just about every variation of every model in ever caliber or gauge on the WWW. Some of the bigger stores like Gander Mountain, Bass Pro and Cabelas will have many of the new models but if you're looking for anything used, your choices are limited.
- Older Guns. Again, the internet allows for a great selection of used firearms that is hard to find locally. Things like Winchester Model 12s, Browning Superposed, Winchester 101s and old Remington 1100s and 870s are abound on the internet and you will be hard pressed to find them locally.
I'm sure I missed some but those are some of the main points I would keep in mind.
Personally, about 75% of my collection was purchased over the internet.