A huge family bought every freggin box (8 in total) of .22LR bulk pack. They were laughing with the checkout lady that they don't even own guns. She brags that they " put it on the Internet and make money"... That's life, I get it, but this sure sucks for us gun owners and shooters!!! Blahhh!!!!
Big score at Walmart, but not for me ;(
- Thread starter mopar92
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MagnumDweeb
Member
Trust me, they aren't the first nor will they be the last. And yes spouses and family of Walmart employees are doing this. A friend of mine offered to sell me ammo from Walmart at twice the going rate that he got from where his wife works (it's a 24hr). He told me she calls him to tell him when the ammo comes in and he goes in and out as many times as he can with as much ammo as he can (he buys a candy bar with each purchase so it's a separate purchase each time). I laughed in his face and reminded him what being a friend was and that it didn't involve having to grab one's own ankles. He made a small mint on gunbroker and he doesn't even own a gun though that might finally change with the thousand plus dollars he's made since the crisis began.
This is why shooters need to have a big stash of ammo so these waves can be ridden out and help the market prematurely burst when this nonsense starts. Granted this crisis has helped me move several projects along that have born great fruit but still this has been ridiculous. I mean I sold a Saiga .223 16" for $740 that's been sitting in the back of my safe for three years (that I bought for $300). A SKS Yugo for $460 (that I bought for $100). And a Ruger P345 for $480 (that I bought for $200). Plus 3325 of .22lr for $400 that I bought for not even a $120. It's a sad state of affairs when I can unload no name manufactured .223 M193 55 grain ammo for $450 per five hundred rounds (kept the good stuff stashed, sold the no name and got myself $900 for $350 worth of ammo). Now if my Taurus PT99 would just sell on gunbroker for more than $400 (got it for $250 in a private deal) I'd be a happy man and well onto my savings stash of $10,000 for December.
If you are all paying attention. I hope you realize now that when things calm down, it's time to start reloading and stashing ammo on a regular basis. Oh and learn the joys of holy black and revolver shooting.
This is why shooters need to have a big stash of ammo so these waves can be ridden out and help the market prematurely burst when this nonsense starts. Granted this crisis has helped me move several projects along that have born great fruit but still this has been ridiculous. I mean I sold a Saiga .223 16" for $740 that's been sitting in the back of my safe for three years (that I bought for $300). A SKS Yugo for $460 (that I bought for $100). And a Ruger P345 for $480 (that I bought for $200). Plus 3325 of .22lr for $400 that I bought for not even a $120. It's a sad state of affairs when I can unload no name manufactured .223 M193 55 grain ammo for $450 per five hundred rounds (kept the good stuff stashed, sold the no name and got myself $900 for $350 worth of ammo). Now if my Taurus PT99 would just sell on gunbroker for more than $400 (got it for $250 in a private deal) I'd be a happy man and well onto my savings stash of $10,000 for December.
If you are all paying attention. I hope you realize now that when things calm down, it's time to start reloading and stashing ammo on a regular basis. Oh and learn the joys of holy black and revolver shooting.
MachIVshooter
Member
It's legal (kind of), but they're still jerks.
They *could* potentially run into issues with local zoning, operating a retail business without a license, failure to pay state sales taxes or even issues with federal income tax. If you buy something (especially in quantity) for the express purpose of reselling it for a profit, then you are conducting retail business and need a tax ID.
They *could* potentially run into issues with local zoning, operating a retail business without a license, failure to pay state sales taxes or even issues with federal income tax. If you buy something (especially in quantity) for the express purpose of reselling it for a profit, then you are conducting retail business and need a tax ID.
pa350z
Member
Absolutely, hope they don't get caught. In our town, this is considered retail sales and you must have a Business Privilege License and pay tax on the sales. The State also gets its cut. The reality is that many will get away with it until they are turned in and then audited. That's when the tears flow and the I didn't know response comes out. My thought is too bad. You reap what you sow.
Airbrush Artist
member
Wonder what kind of merchandise return Policy they have? lets hope the get a bunch of bad Rounds ,That would be fun to watch..
The same thing happens here. Gander Mountain has 75-100 people come Friday morning just waiting to rush the doors like it's Black Friday. As long as fools are willing to pay the exhorbitant prices online or at gun shows, the secondary market will continue flourish.
xfyrfiter
Member
I really hope the ones that are breaking the law doing this get caught and have to face an IRS audit and pay all the fines etc. that the city, county, and state will tack on. Ignorance of the law is not an excuse for breaking it.
What law are they breaking?
I can't believe how many gun owners are supporting rationing and lashing out at free market capitalism.
Greed? Wow, did I slip into the communism underground here?
You want price controls and rationing?
Oh, you want it cheap and now; during the point of highest demand since WWII?
jcwit
member
Joe, its against the law to buy merchandise for the purpose of selling at a profit withit having a tax number and in most states a retail lincese, and in many states collecting and sending in sales tax monies.
How do I know? My wife and I owned a small retail business for 20 years.
All kind of laws and taxes to conform to.
How do I know? My wife and I owned a small retail business for 20 years.
All kind of laws and taxes to conform to.
oneounceload
member
Glad to see SOMEONE understands econ 101..........
Seems the only folks whining are those who don't have enough in their own garage
Airbrush Artist
member
Exactly....Torian..Joe Bidens probably His Uncle...
oneounceload
member
Um, how so? Someone holding a gun to your head to buy from them? No, therefore you have the choice to N OT buy from them. If they price their goods too high, they will not sell. If someone WILLINGLY pays their asking price, then they have their goods priced correctly - doesn't matter if it is guns, houses, cars or steak
So you've never heard of Ebay? GB? You guys are assuming all kinds of crimes just because you're mad you didn't get the ammo first.
There's usually a low end limit of what is considered a "business". I don't see the IRS rolling people in the parking lot of Costco for bulk buying cookies to resell at fund raisers. Or swooping in on this forum for people selling mags for a profit. A single sale is generally not a "business".
-They paid the sales tax (Wal-mart won't do re-sale exemption), so the sales tax is not an issue.
-As long as they declare income on their tax return, tax paid. Just like anyone who sells anything on Ebay or this forum.
-Even if you are running a business you do not need a tax number if you're a sole proprietorship and don't have employee's. It's a reasonable guess the family of 8 is not a corporation. Or maybe they already filed their LLC. <-sarcasm.
This isn't a fascist state, ... yet. But keep trying and maybe you'll help get us there.
Cheer up. There is a good chance they will get stuck with the ammo and lose their investment. That's capitalism. Risk versus Reward.
There's usually a low end limit of what is considered a "business". I don't see the IRS rolling people in the parking lot of Costco for bulk buying cookies to resell at fund raisers. Or swooping in on this forum for people selling mags for a profit. A single sale is generally not a "business".
-They paid the sales tax (Wal-mart won't do re-sale exemption), so the sales tax is not an issue.
-As long as they declare income on their tax return, tax paid. Just like anyone who sells anything on Ebay or this forum.
-Even if you are running a business you do not need a tax number if you're a sole proprietorship and don't have employee's. It's a reasonable guess the family of 8 is not a corporation. Or maybe they already filed their LLC. <-sarcasm.
This isn't a fascist state, ... yet. But keep trying and maybe you'll help get us there.
Cheer up. There is a good chance they will get stuck with the ammo and lose their investment. That's capitalism. Risk versus Reward.
Torian
Member
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As I said, it's just my two cents on this whole thing.
I personally believe in making an "honest" profit, regardless of what I'm selling. I've run businesses before, selling goods and services, and I've always tried to be fair, and give the customer what I consider a reasonable price, while keeping my business profitable.
I guess you could say I'm guilty of having a conscience on these things. So, do I really care that much if someone else wants to buy ammo and flip it at 200%? Not really. But if you ask me what I think of that individual...I would say something along the lines of..."Karma's a -----".
I personally believe in making an "honest" profit, regardless of what I'm selling. I've run businesses before, selling goods and services, and I've always tried to be fair, and give the customer what I consider a reasonable price, while keeping my business profitable.
I guess you could say I'm guilty of having a conscience on these things. So, do I really care that much if someone else wants to buy ammo and flip it at 200%? Not really. But if you ask me what I think of that individual...I would say something along the lines of..."Karma's a -----".
oldbear
Member
Well by the time they pay sales/auction fees and ORD shipping fees lets see if they really make any money
Well the reality is, capitalism is why we are proud to be in America and prosper!! So no, we aren't saying communism is best for ammo sales. And I never thought about that, reselling the ammo and making thousands of dollars is income! Hopefully the IRS stops by and pays them a visit. The Easter egg hunt is fun though. Maybe one day I will score!
oneounceload
member
Sorry, no such thing. A business is in business to make as much profit as it can on every sale, because there might come a time when sales are slow - nothing honest or dishonest about it; unless you subscribe to the current admin view of socialism where companies making profits are evil?????
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