To reply with out snark to m58's original post .
The licensed dealers can set me straight if I'm wrong, but my understanding is that every gun an FFL holder "sells" has to be run through his books with details of source and destination .
Even if it comes from his personal collection .
(I don't know if he can enter it as "from personal collection" or if he has to go back to "inherited from Uncle Bert" )
Anything sold from his recorded inventory, the stuff in the book, has to have a NICS check.
I may be wrong, but as I said, my understanding is that if you are an FFL you no longer have the right to make a "private sale" of any fire arm you own.