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.

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There only gave out $50 cash for BB guns. It was $350 for 7 BB guns.

I try to publish all that I find at Gun Watch. I overlook those in the few states that have outlawed private sales.

The Racine event was posted here on THG, as I recall.

I have corresponded with a fellow who did that in New York. He goes (went, with the new law) to garage sales and buys old junk to be turned in. He did pretty well at it.