Morphy’s recently took the world record for the most expensive machine gun ever sold at public auction – with a transferrable FN Minimi. It sold for a winning bid of $490,000, which became a total price of $588,000 after adding the 20% buyer’s premium. Good heavens. So today, let’s consider why someone might speak THAT MUCH money for a Minimi…
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There are three transferable Miniguns, and the last I saw was $275K. Not that I can afford either, but personally I’d rather that than the meh Minimi.
I found your three categories unusual. Aren’t speculators a type of investors? And what about shooters?
SOT licenses aren’t that hard to get if you honestly want to be a dealer or manufacturer. There are additional hoops set up to prevent gaming the system just to get cool toys for yourself, and gaming them creates even more trouble.
Larry – izzat you?
Common to be both an investor and a collector. Invest in what you like, admire and want to own. Usually, your enjoyment gives you an edge in understanding the market (Guns, Watches, Paintings, ect).
Seems the ROI on certain guns, going with NFA, is pretty good. But not universal. STEN guns seem to increase slowly while M60s are on a roll. Also depends on model and number available.
But agree with Ian’s perspective that NFA are a limited supply that is slowly getting smaller.
the main problem here is NFA owners have so much money sunk in these guns that they have a vested interest in keeping the system exactly the way it is, instead of opening up the system to new registrations again.
NFA owners don’t write the laws, they just live by them. Like the stock market, they see an appreciating asset and purchase on the assumption it will be worth more in the future (and they like guns). The rule that limited the increase of automatic weapons was a rider tossed into the NFA act of 1986 at the last moment which froze the supply.
It’s simply taking advantage of a govt law that creates a scarcity or opportunity. Other things like it are Muni Bonds (triple tax free), Carbon Credits (more a euro thing but govt credits to pollute-kind of, its involved) and various licenses like drilling permits.
But the NFA owners have no say in how the rules are crafted. Population is too small, disjointed and generally not political.
Just my .02
Lunacy that’s entirely dependant on when a court case strikes it down. If I pay that for a gun, I’d better need a map to aim it. A big map.
The machine gun laws have been repeatedly affirmed by the Supreme Court, they won’t be found unconstitutional.
More likely dependent on when 273 people in Washington decide to wipe it out, probably the first time a registered MG is used in a big awful crime.