This is absolutely true, I swear it.
a) Percent profit is based on selling price, so the highest percent profit is indeed 100%. So if you got it for free and sold it for $200 you made 100% profit on the sale. If some one paid you $800 to take it off their hands and you sold it for $650,000 you still made 100% profit on the sale. Does it mean the two examples are equal in every way imaginable, no it does not, are they equal in percent profit made on the sale, yes. As another poster said you cannot be 110% pregnant, 100% is the max.
b) Sit down for this one, there is both gross profit and net profit. Gross profit doesn't take into account any associated costs of the business. So you buy two guns for $300 and sell them for $500 so your gross profit on the two sales is $200/$500 or 40% Gross profit. But it cost you $80 in gas, rent of the table at the gun show, and lunch, so your net profit is $200-$80 = $120 or $120/$500 = 24% Net Profit.
It's amazing that anyone makes any real money selling either new or used guns, it's best as a hobby business.
