Poor Arthur, one JC OVERPRICED DEVINE auction and you think your 28 Navy is worth 69,000 AT LEAST.
By the way, you failed to post the fact that a West Hurley sold for $6500 or whatever in that auction.
There are a lot of factors here that are being overlooked:
There are people out there that:
1. Don't know you can buy machine guns
2. If they find out they can buy a MG and find out the prices they run the other direction
3. Find out MG's are legal, but live in a state where they are outlawed
4. Those that want one, but cant afford one right now, but are saving up
5. Those that want one, can afford it and searching for the right gun
6. Those that can't afford one, and will NEVER be able to afford one
7. Are in the business of buying and selling MGs for a living
8. Own a machine gun they bought a long time ago and wont shoot it because they are worth too much now
I am sure I have left someone out, but this covers most of the "people in the market."
95% of the populus is excluded by #1, of the remaning 5%, 50% are excluded by number 2. Those 50% now have one chance in three that they live in a state that does not allow MGs. We are talking about less than 1% of the people in the country will be potential MG buyers or even less when you figure in the amount of money it takes. Ready, Willing, and Able buyers are NOT as plentiful as the internet may seem. There is a threshold here.
There are a VERY few people out there that made any real money on machine guns. Dealers who have been in it for a LONG TIME. Pre 86 Class 2's, dealers who collected and kept the right guns, etc...
So what if you bought a MG in 1978 for $2,500 and its worth $25,000 now. How much money did you really make sitting on your gun? Thats 10 times what you paid for it in 26 years. Are you rich? You made less than $23,000 over 26 years and thats less than $75 per month in profit, plus you have to pay income taxes on that if you sell it. We are talking about less than 4% a year here. Inflation is probably more than that.
I paid too much for my gun. Its worth 60% more than I paid for it in 2 years time. I have made 30% each year I have owed it. Sure beats your 4%. Get the picture yet?
|John, again I disagree to some extent. These guns are, for the most part from Class 3 dealers, are NOT moving in the case of WH 1928's over 10K. This tells me the sellers are holding firm and inflating the market.... or waiting for the market to catch up to the currently inflated prices by todays standards. So your argument fails if the taking price never drops below the initial asking price.|
There is only ONE way to appraise MG sales. Recent compairable sales. Thus my statement of asking prices vs. selling prices. Informed sellers and informed buyers in an arms length transaction must be included.
You can ask 12K for a West Hurley and sell it for 8K. The gun was worth 8K. Do you see?
PS ... Sorry these people hijacked your thread.