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WI:Racine Gun Turn In: 10% of guns at “buy back” were Purchased for the Event
Image from Phoenix Turn in Event
Correction: Cash was offered at the event, not gift cards.
Update: Comments sent to me by a source who was at the turn in event in Racine on Saturday the 27th, said that one person had purchased 7 BB guns new at Walmart to turn in at the event. Only 77 guns were turned in altogether.
The source says that the BB guns were purchased for $120 and turned in for $350.
It appears that the event organizers are learning something about market economics. More resources offered for a product stimulate demand. Reducing supply at one source is likely to increase demand at remaining sources.
If you remove some used guns from the market, you are, in aggregate, increasing demand for new guns. I wonder if gun manufacturers approve of gun turn in events, as they clearly increase the demand for new guns.
Other sources noted that the police officers at the event were polite and courteous to the private buyers who were present.
As noted in the original article, $2,500 was still available at the end of the event.
©2013 by Dean Weingarten: Permission to share is granted when this notice is included.
Source: http://gunwatch.blogspot.com/2013/07/wiupdate-and-correction-10-of-guns.html
