Last November Barack Obama was elected president. Obama’s official platform included a renewal of the 1994 Assault Weapons Ban and he was widely (and accurately) perceived as being anti-gun. His election set off a massive gun-buying spree that saw record numbers of gun purchases. That, in turn, led to empty shelves and inflated prices, not just for guns but for complementary goods such as ammunition.
Now people on The High Road are asking is the panic buying over? I think so. It peaked a month or two ago and now it seems to be going in the opposite direction. The best data I have for that is the Colt 6920, a popular AR-15 model.
Colt 6920 price history
A week before the 2008 election someone was selling thirty Colt 6920 AR-15s on Gunbroker for $1,200 a pop, which was a bit under the usual price. A few weeks after Obama won those same 6920s soared to $1,800 or more. (GunBroker’s auction search only goes back 90 days, but here ‘s an April auction for $1,750.)
Since then I’ve been watching Clyde Armory, which lists Colt prices on its Web site. Over time I’ve seen the sticker drop to below $1,600, then to $1,449, then to $1,349 last week, and to $1,249 today. An identical gun on GunBroker sold for $1,050 a few weeks ago.
The Obama-inspired gun-buying panic is over. Everyone who wants an AR-15 rifle and can afford it has one, at least until another ban looms. (Well, except me, but I’m not all that fired up about buying an AR-15. I bought a lower and some 30 round magazines last fall as insurance against a ban, but I refused to pay those inflated prices for a complete gun.)
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Judging from the amazing number of full-up AR-15s and stripped lowers I saw at Hero Gear this weekend, the rush is well and truly over. I could not check to see if their prices are comparable, and I do not remember them off the top of my head (however they did not seem astronomical at the time), but just the quantities alone speak volumes.
[rq=170950,0,blog][/rq]probably should have checked
I agree with this.
But I think it’ll take longer for the ammo surge to subside. I’m starting to see more stuff available, but it doesn’t last for long.
[rq=171390,0,blog][/rq]They’re Back! Again!
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No, my friends you are mistaken. The Obama-inspired NICS-required-to-buy gun rush is over. I know a number of people who are buying up what they can, while they can, with no federal instant checks required via the “gun show loophole”