A New Investment
March 30th, 2009 by KenricAbout a month ago I purchased a DPMS Sportical. I’ve always wanted an AR-15 and with Obama trying to pass the assault rifle ban permanently, I decided to go ahead and pick up one.
I am calling this an “investment” because I will never shoot this gun. I also purchased some boxes of ammo. For those that aren’t familiar with the trend in gun sales, they have been skyrocketing in the past 5 months. Ammunition is hard to find and assault rifles do not stay on the shelves very long.
It is sometimes a little crazy at the store. When I was in line to purchase my rifle they had a total of 6 in stock. Each person in front of me bought one. Then they bought an holographic sight and a case of 1000 rounds. Total bill for them $2300.
The second time I was there, the person in front of me bought 4 AK-47′s and the next guy bought 2 AR-15′s. Each of these guys ran up charges over $5,000. It’s hard to believe that with the economy in this state that people can drop thousands of dollars like its nothing. However, I think they view firearms differently. It’s probably tough to put a price on the value of one if you need it one day. I think many are purchasing as investments also.
I purchased my rifle for $699.00. As I look at prices today on Gunbroker for this very same gun, they range from $799.00 to $920.00. So prices have moved slightly in the past month. The last time this ban took place my 15 round glock magazines went from $20 each to $150 each. I think many people remember that and this time the ban if passed is suppose to be permanent.
Posted in INVEST | 3 Comments »
Stumble it!
why would the ban be permanent? the next republican administration would just reverse it.
By knuckle_headed on Mar 30, 2009
We can only hope the Supreme Court will do what it was designed to do, protect our constitutional rights.
By Bilgefisher on Mar 30, 2009
Now I know why the guy that lives next to the drophouse in Phoenix is able to sleep with two machine guns under the bed. I always knew the gun laws are much more liberal in Arizona than in California, where “assalt weapons” have to be registered and I believe are no longer sold.
Gun laws don’t seem to work very well, as a convicted felon in Oakland recently got several “assault weapons” and killed four police officers. Guns and drugs have the same problem. People want them, and if they can’t be obtained legally and locally, there’s always someone willing to fill the demand by obtaining the supply from where they are available. The price of the investable asset (or commodity) is determined by the difficulty of obtaining the product.
Maybe the individual ownership of other commodities and investable assets should be prohibited. Just think what Beanie Babies would be worth if they were banned!
By Another Investor on Mar 30, 2009