Local man buys 200,000 AR's...!!!


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Hokkmike
February 10, 2013, 05:56 PM
If you can believe a local newspaper, in this case the Feb. 10 edition of the Press Enterprise from the Bloomsburg, PA area a local man, Jamie Nolan, mortgaged his house to get enough money to buy 250,000 guns, 80 percent of which were AR's. Jami is apparently a local gun dealer and made good on his investment by purchasing these firearms just prior to Obama's reelection.

Jami maxed out his credit cards and took out a home equity loan to make the buy.

Can you imagine the profit this man is making? What foresight he had. The paper I cited has him in a picture at the Benton gun show held on Saturday 2/9/13. I can count at Least 13 AR style rifles in the picture. The price tag on one of Nolan's AR's at the show yesterday was $3,500.
__________________

Here is a link to the story....

http://www.pressenterpriseonline.com/

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joeschmoe
February 10, 2013, 06:05 PM
Everyone sing;

God Bless America!!! Land that I love!!!

MifflinKid
February 10, 2013, 06:05 PM
Hmmm. We could do some math.

$500/gun. 250,000 * $500 = $125 million.

He must have a fantastic house and a wheel barrow full of credit cards.

Now let's try 125 guns. 125 * $500 = $125,000. Seems more plausible.

docnyt
February 10, 2013, 06:08 PM
If I were a gun dealer and had any political insight, I would have made a killing too...

Sam Cade
February 10, 2013, 06:09 PM
I think it is more likely that this guy purchased $250,000 worth of firearms.

4v50 Gary
February 10, 2013, 06:09 PM
And what will he do when the panic subsides? Will he be able to recover his money?

jdh
February 10, 2013, 06:09 PM
http://www.smileyvault.com/albums/signs/smiley-vault-signs-024.gif (http://www.smileyvault.com/)

santanzchild
February 10, 2013, 06:13 PM
Probably make normal profit over a longer time. Even without the panic ARs where always a good money maker.

Sent from my SAMSUNG-SGH-I727

Utryme
February 10, 2013, 06:14 PM
Wish I had that crystal ball. He will make about $2.5M if he's not too greedy.

Jorg Nysgerrig
February 10, 2013, 06:15 PM
I think it is more likely that this guy purchased $250,000 worth of firearms.
This seems much more likely. At say, $600 a pop, that's closer to 400 firearms, 80% of which would be around 320 ARs. That seems much more likely.

AethelstanAegen
February 10, 2013, 06:16 PM
Now let's try 125 guns. 125 * $500 = $62,500. Seems more plausible.

Fixed that typo for you. It does seem rather hard to believe. The guess that he spent $250,000 makes a lot more sense. 200,000 ARs would have been a pretty substantial chunk of the available supply whenever he bought.

How would you even store 200,000 ARs?

Hokkmike
February 10, 2013, 06:19 PM
I have provided a link which I believe will be good for a day or so. It is in the OP and here: http://www.pressenterpriseonline.com/

TheGenericUserName
February 10, 2013, 06:19 PM
And what will he do when the panic subsides? Will he be able to recover his money?

purchasing these firearms just prior to Obama's reelection.
Apparently he bought them before the panic started. By now he's probably already sold most of them.

Solo
February 10, 2013, 06:19 PM
How would you even store 200,000 ARs?Well, if they had collapsible stocks, you could store the entire arsenal in a woman's purse and still have enough room left over for some assault magazines.

TennJed
February 10, 2013, 06:32 PM
Before the panic how many ARs were on sale to buy? If we break that down in all 48 lower states that is over 5,208 ARs for every state. Not sure I could have found 5,208 ARs in Mississippi before the panic.

flyingfeathers
February 10, 2013, 06:35 PM
Remember Tickle-Me-Elmo? Similar motive.

Sam Cade
February 10, 2013, 06:38 PM
How would you even store 200,000 ARs?

If they were all M4geries that would be around 650 tons worth...:what:

Sam1911
February 10, 2013, 06:42 PM
Whooo...250,000 firearms, mostly ARs?

LOL!

Look, there were 1,183,279 NICS checks for firearms sales done in October of 2008.

If this story is true over 21% of all the firearms sold went to this ONE GUY! LOL! :D I do believe that would have made the news before now!

(If in Sept. of that year, better than 26%!)


I'll buy the $250,000 WORTH of guns story, though.

hso
February 10, 2013, 06:43 PM
Improbable that there were 200,000 AR receivers available to purchase all at once.

He may have put orders in. He may have put $200,000 into purchasing all he could get. BUT there's little chance he put enough up to actually purchase and take delivery on nearly a quarter of a million rifles.

InkEd
February 10, 2013, 06:49 PM
If he bought the right stuff, he could eaily double his money.

guyfromohio
February 10, 2013, 08:10 PM
I love math.

hueyville
February 10, 2013, 08:53 PM
Being involved in the news business as both a reporter/writer/photographer for several years then also being involved in situations that were reported, often times things get mixed up. Especially numbers and their relationship to events. Like another supposition that I believe is most plausible, he purchased 200,000 dollars worth of AR's. At that amount I would guess about 400 total units. 3,500 for an AR? I can get full customs built by very good smith for much less than that. Actually saw a NFA M-16 go for 7,500 in a deal where guy needed quick cash just last week. I was five minutes late. Anyone that pays that much deserves one.

Luckily when I bought original Colt pre-ban true AR's they were 450.00 NIB. SKS's were 90 bucks with 600 rounds of ammo included and AK's were 175.00. Bought one AR a month for a year, one AK a month for a year, one SKS a month for two years and one M1a per year for a decade. Made it a point to buy an FN-FAL, HK, etc every couple of years. With no children to leave them to, I am financing mine and my wifes retirement with the surplus and still keeping enough personal ones to hook my brothers kids up well when I pass.

Wait a bit, prices will ease back down, buy an extra or more if you can. Next bubble cash in however many you are willing to part with remembering that there will be more events so always keep a few to turn later. I was always told to invest in gold, silver and guns. I bought silver when it was 4 bucks an ounce and sold when it hit 36. Bought gold at 400 and sold at 2,200. Had a local muffler shop that for years gave me catalytic converters to haul them off. Had three six yard dumpsters full when they started bringing 100 bucks each. Stocks, shares and all that are o.k. for some, I like investing in tangible items I can hold and put in piles. I recently took over 1,000 lbs of #1 copper to scrap yard that I was paid to pick up and haul off from construction sites when housing was good. Richest man I know made over 50 million in lifetime on scrap iron. Capitalism works for those with foresight, I just never had enough to invest to find really big dollars. But managed to finance lots of expensive hobbies, travel the world, take time off when young enough to enjoy it and still have a roof over my head. God has blessed me with much more than I deserve through a little trading different kinds of metal over the years. A spare pickup truck, a lot to store it own and put employees to scrapping when work was slow worked out better than fooling with stocks. Although the market has not lost me anything. America was built by folks willing to take a chance. Look around, opportunity is around for all.

Rembrandt
February 10, 2013, 09:13 PM
If it were 200,000 AR's.....he'd be better off getting an FFL manufacturing license, some CNC equipment and start building his own line of AR's.

Ignition Override
February 10, 2013, 09:15 PM
How would he have stored even just 10,000 rifles?
Multiples of that might have required a second location, which would have attracted burglars using pickup trucks as break in tools.

psyopspec
February 10, 2013, 09:24 PM
hueyville, that was the most interesting post I've ever seen related to the "panic." Good on you, sir.

somerandomguy
February 10, 2013, 09:39 PM
But let's do more math Mifflin. What if he had 125 guns x $3,500 - $62,500? ;)

I corrected your initial math btw. 125x$500 = $62,500, so it's very plausible to mortage your house to pay for 125 AR-15's OR 500. This dude is probably making a boatload of $$$.

friscolatchi
February 10, 2013, 10:03 PM
Hueyville, you da man!

jdh
February 10, 2013, 10:25 PM
I'll say it again http://www.smileyvault.com/albums/signs/smiley-vault-signs-024.gif (http://www.smileyvault.com/)

There is no way on this planet he was able to find 200,000 AR type rifles available to purchase in 2012. The estimated total produced by the top 10 manufacturers was just under 275,000 in 2010 the last year for which production totals are available. and just under 300,000 for 2009. If anyone believes one person was able to buy over 80% of the total production for the year, they are delusional.

mister_murphy
February 10, 2013, 10:33 PM
Ok....So, a local man somewhere buys 200,000 AR's...

Is he going to keep them for hisself? Possible but unlikely...

Is he planning on selling for a profit, by purchasing all of these 200,000 AR's? If so he should have an FFL or else its an instant dealing in firearms without a license... 1 or 2, that may slide, 200,000 guns purchased for the intent to resale? I doubt that would pass the smell test on dealing in firearms without a license. Afterall... Buying 200,000 firearms of one type, and then potentially selling them at one point...Thats alot of firearms to move...

Somethimg smells fishy. Just saying...

12131
February 10, 2013, 10:42 PM
Man, at least do the math before posting such numbers.
200,000 ARs x $1,000 per AR = 200 million dollars! give or take 5 or 10 million dollars. Makes any sense to you?
Let's say even at $500 per AR, that's 100 million dollars. Yeah, right!

mjw930
February 10, 2013, 11:00 PM
All the math aside on the PA dealer, one of my local (FL) small dealers (one man operation) started planned buys about a year ago. He built up a supply of AR's, AK's, FN's, etc. as well as 5.56, 9mm and 22lr ammo. When the do do hit the fan he had over 1000 evil black guns and tens of thousands of rounds of ammo in stock. Over the 4 week period between Newtown and mid January he was averaging $1.6M per week in gross sales. I believe he has exhausted most of his stock and is entertaining offers for his store and property and retiring. You gotta love America!

mgkdrgn
February 11, 2013, 10:20 AM
I call "<deleted>". Nope, don't believe it, sorry.

I doubt there were 200,000 AR's in stock at every distributor in the country.

At say 15lb each shipping weight, that would be 3,000,000 pounds of guns? 75 Tractor Trailer loads?

It would take how many years to log them all in to an FFL's bound book? (assuming one a minute, 24/7, 140 days)

Drail
February 11, 2013, 10:35 AM
In the words of Will Ferrell as George Bush - " I believe those figures are inakarut". Maybe he bought 200,000 HiPoints and Jennings, but ARs?

mdemetz
February 12, 2013, 04:39 PM
So what's the short term capital gains tax on guns:)

soonerfan85
February 12, 2013, 05:14 PM
He may regret this if any of the guns he sold end up shooting down planes or blowing up railroads. :neener:

And I refuse to believe the press would not check their facts and print something that wasn't factual. ;)

gym
February 12, 2013, 06:12 PM
Was he an FFL dealer, if not depending on the laws where he lives, he had to break several right?

Sam1911
February 12, 2013, 06:37 PM
Yes, he's an FFL, and no, in PA he wouldn't be breaking any laws by buying all the guns he can afford.

Had he "flipped" them all as a non-licensee he'd almost certainly be charged with dealing without a license under federal law, though.

MifflinKid
February 12, 2013, 06:46 PM
Quote:
Now let's try 125 guns. 125 * $500 = $62,500. Seems more plausible.
Fixed that typo for you. It does seem rather hard to believe. The guess that he spent $250,000 makes a lot more sense. 200,000 ARs would have been a pretty substantial chunk of the available supply whenever he bought.

How would you even store 200,000 ARs?

AethelstanAegen thanks for the fix. I ran a bunch of numbers to try and make sense of the story. I meant to put in 125 * $1000 for $125K but copied the product of other calculation. Pretty pathetic for a person who makes a living with numbers.

AethelstanAegen
February 12, 2013, 11:18 PM
AethelstanAegen thanks for the fix. I ran a bunch of numbers to try and make sense of the story. I meant to put in 125 * $1000 for $125K but copied the product of other calculation. Pretty pathetic for a person who makes a living with numbers.

No worries. We all do it sometimes...so I wouldn't worry about it. This was after all only for a post on a gun forum and not your taxes or something. Haha. The numbers are definitely way off somewhere in the article.

gym
February 13, 2013, 08:46 PM
So the guy made a lot of money is the bottom line. That's life, win some, lose some. I am sure many have taken a shot on something in their lives, most of these stories you hear only tell you about the success they had. Sometimes guys go belly up a dozen times prior to hitting it right.
If they stopped after the first failure or two, they never would have got to the place they ended up.
And don't forget the opposite is also true, folks that made big money on something like the "market" and instead of getting out, lost it all back. It's not a profit until you cash in for the last time.
I wish I had all the money I had. lol. My wife tells me her ex made 2 million in the market and lost it all back, "now that's stupid", wouldn't you keep a million or a million and a half, and play with the money that you could afford to lose?
Now if the AR guy doesn't go and do something dumb, he will be ok, but some folks get off on the risk rush more than the money.If he has that mentality he will lose it back in gold or some other overpriced commodity.
At least guns have a purpose, you can't shoot gold bars or silver bullion if a tragedy really does hit, Guns and ammo, are worth more than gold or diamonds.
I just came back from wallmart and bought more ammo I don't need with cash I do need.But you can't get it when you may need it, reload or not, the supply chain will dry up quick.So I have more ammo than eve before, I figure that is worth it''s weight in just about anything.

Averageman
February 13, 2013, 09:32 PM
Lets say I'm a low end player in this game.
I buy 100 AR's the next time prices normalize.
I buy 1000 Ar Magazine,
I buy 100,00 Rounds of 5.56.
So I have 150K to 200K in the deal.
I have just beat the 401K I have been in for the last 15 years buy about 1000%.
I could do all of this in my gargae and beat my broker.
Who is the fool?

nathan
February 14, 2013, 12:07 AM
May he double his money. ! Blest his heart !

Double Naught Spy
February 14, 2013, 08:21 AM
Man, at least do the math before posting such numbers.
200,000 ARs x $1,000 per AR = 200 million dollars! give or take 5 or 10 million dollars. Makes any sense to you?
Let's say even at $500 per AR, that's 100 million dollars. Yeah, right!

At that point, the "maxed out credit cards" would not be an issue. He didn't buy $99,950,000 worth and then put $50K on credit cards, LOL.

So yeah, it sounds more like $250K in guns, total

AethelstanAegen
February 14, 2013, 08:43 AM
Who is the fool?

I wouldn't want to try to sell off all that stuff without having an FFL however. The ATF is pretty non humorous about dealing without a license. But I agree, power to the guy (who did have an FFL) for making a real savvy business move. I knew when I bought my AKs that they were at a market low (he must have realized the same thing) and so I didn't mind selling them a few weeks ago when they could earn a nice profit on my investment.

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