Greed finally hits a wall

[Knomad]

Yesterday I made the rounds of three local gun stores, mostly out of curiosity on handgun and ammo stock.

Two of them still looked like they'd been attacked by a swarm of gun locusts, with hardly any handguns on the shelf... Although the ammo situation was slightly better, at least a few boxes of most calibers in stock.

The third store is, shall we say, known for somewhat elevated prices even under normal circumstances. These are not normal times. Surprise, there was a Glock 19 on the shelf, and several other things I haven't seen in a while, all at prices that made me gasp. They even had cases of ammo on the floor, stacks of them... 1000 rounds of 9mm for a mere $499. Ouch.

It was good to see that even now there are limits to what people are willing to pay for guns and ammo. It appears that while these guys have plenty of supply, most of the demand continues to frequent the less greedy competition even if that means exercising a little patience.

[Pistolgrip Pump]

Good for them. I don't care what anyone else says about it being a free market or hoarding. That **** is killing it for everyone else. You have every right to hoard as much as you want, but do you really need it? Sucks for guys like me because I just want a box or two to go to the range and I can't even make tht happen.

[ElvenSoul]

Gordon Gecko said Greed is Good

[gau17]

Knomad,

Just so you know this not the first time this has happened. The trick is to be prepared the next time around so you don't get caught with your pants down.

Always keep plenty stocked up. Buy low/sell high.

[Just_some_guy]

Yeah, the bubble will pop soon.

The hoarders are going to sit on theirs, but a lot of speculators went out and ran up the family Mastercard up buying ammo figuring on doubling their money in short order. Then the monkey-see-monkey-do types went out and ran their credits over the limits, figuring on doing the same.

As soon as things start to ease up, and they will, a lot of people are going to look at their maxed credit card statements and wish they hadn't a done it.

The smart ones are getting ready to let go of their stash so they can make some profit, the dumb ones still think they're going to get triple their money and will hold out - until the wife figures out why the cards don't work at the shoe store anymore and the failed, get-rich-quick-on-ammo scheme comes to light.

Just wait, as soon as the demand is satisfied and stuff stays on the shelves for little while, the price will drop rapidly.

Just like oil did in 2008. One month, $144 a bbl. The next month, < $50. Once the supply exceeds actual consumption, it's like an avalanche.

[CK_32]

Good for them. I don't care what anyone else says about it being a free market or hoarding. That **** is killing it for everyone else. You have every right to hoard as much as you want, but do you really need it? Sucks for guys like me because I just want a box or two to go to the range and I can't even make tht happen.

I find it holarious because they may say hey free country and act all cool because they already got their guns and ammo..

But when their cable/phone bill raises $20 a month for no reason or their gas prices or they get a ticket higher than it was before they probably bi** and cry like the rest of us because it effects them directly..

[tbc]

Good for them. I don't care what anyone else says about it being a free market or hoarding. That **** is killing it for everyone else. You have every right to hoard as much as you want, but do you really need it? Sucks for guys like me because I just want a box or two to go to the range and I can't even make tht happen.

They (the range) do sell ammo. I was at OnTarget yesterday and saw a case of 500 of 9mm reload for $150.


Sent from iPhone

[paul0660]

a case of 500

a case is a thousand.

[tbc]

a case is a thousand.

Their black plastic cases contain only 500.

Didn't know there is a definition of an ammo "case". Thank you for pointing this.


Sent from iPhone

[hambam105]

Good Market Intel

Thanks Knomad. Now we know the price ceiling, for now anyway.

San Jose gun show last week had XM193, Federal .223 55 grain FMJ, for 1 dollar a round. And Wolf WPA 7.62X39 for .50 cents a round. No takers as of late Saturday. Combine this with the fact SJ gunshow had the longest waiting line to get in they ever had.

[Fishslayer]

It was good to see that even now there are limits to what people are willing to pay for guns and ammo. It appears that while these guys have plenty of supply, most of the demand continues to frequent the less greedy competition even if that means exercising a little patience.

While I don't "boycott" anything there is one local shop that jacked their primer prices back in '09. Fair enough, free market. But they were also bragging about having "pallets of 'em" in the back. Kinda being jackasses. I still go there, but only as a last resort, and I haven't been down to "last resort" for a long, long time.

[rm1911]

You've got it backwards. The high prices prevent hoarding. In fact that dealer is serving a vital purpose. He should be commended.

One, he's helping establish the upper bounds of the market price. If it sells or not is essential information for ALL buyers and sellers.

Two the fact that the price is so "high" is good. If you needed it the ammo was available.

Three the higher prices send signals to producers to make more. Surely he'll pay more to the manufacturers to get more ammo and as they make more the prices and profits send signals to everyone abou which ammo to make and how much. Hell, you can find 7mag anywhere. Prices on that haven't changed. Sellers need that info too.

Thankfully someone around here teaches economics.

[modernchaos]

a case is a thousand.

I believe a case is "a container designed to hold or protect something".

[OceanDreamer]

There is one of those near me as well. They have more stock than anyone else in the bay area (at lest that I have seen) both guns & ammo. BUT their prices are high.... I do see a lot of LEOS buying there while in uniform (maybe on the PD"S dime? ) but that is about it. It is nice to know though in a pinch I can get pretty much anything there that I would need.

Luckily I am one is those evil hoarders , and have more than enough ammo at my normal shooting pace until things calm down...

[uhlan1]

Good for them. I don't care what anyone else says about it being a free market or hoarding. That **** is killing it for everyone else. You have every right to hoard as much as you want, but do you really need it? Sucks for guys like me because I just want a box or two to go to the range and I can't even make tht happen.

Brother, you were not prepared. And the true hoarders play no role in this. We had all our ammo well before Sandy Hook and haven't bought a round since. Heck, with the election, I switched from ammo and started hoarding components.
How much 9mm can you hoard at 500.00 bucks a case? This was all so predictable, but most didn't heed the warnings posted all over this site.