Have you done a cost analysis of your collection?

[leadaddict]

Yes, I've done it. It looks like a lot of dollars (at least to me), but then my mind goes right to what I need to add to the list! Now if only my money tree would start producing this year.

 

[Orion8472]

Gregaw, . . . . . actually, though I was shocked at the amount, I TOO have some other things to get [adding to the cost].

 

[The-Reaver]

Let see.

1K
2K
3K
4K
5K
about 10 K

 

[Pacsd]

You guys are all nuts. Listen to my motto: Never EVER count the money you spend on a hobby or a vice. LOL

 

[kimbershot]

i have a understanding of the net dollars i have invested in my firearms. i am not a collector and i only keep what i shoot regularly. a recent move prompted me to divest of some great pieces that won't be used much. the money recouped is going back into some reloading equipment and accessories and upgrades.

 

[CountryUgly]

I could never do such a thing. If my wife seen a total dollar value I'd be divorced. I can get away with a few dollars here and there but if she knew there was thousands of dollars worth of stuff in that big metal box it would be the end of me.

 

[4thPointOfContact]

I had to choose between fast cars, fast women, and ugly guns.
The guns seemed to be far more cost effective than the other choices.

 

[wally]

The guns hold value pretty well, some can even turn a profit, but the ammo is a flat out expense -- like golf or any other hobby.

I've spent more on the ammo run through most of my guns than I did on the gun.

 

[ridgerunner1965]

this winter i set up and a gunshow and sold off a bunch of guns that i really didnt shoot much anymore.some id had as long as 20 yrs, some maybe only a few months.the ones i had the longest i made to most money on but i made money on all of them. i rarely buy new guns at all. mostly people in my area know they can come to me and ill give them more than a pawn shop if they have a quality gun.so i buy my guns right.i enjoy shooting them but a lot i just buy to resell if they are below market value.once i learned just to buy quality and never buy something i dont know the value of, ive never lost money on a gun since.if i buy a 100$ gun ill want to know i can get 130 to 150$ out of it.if i buy a 500$ gun ill want to get 600$ or more out of it.if you buy smart you can make money.

 

[Shoobee]

Safe $600
Mossberg 12 gauge $600
45ACP $800
S&W 29 44 rem mag $1300
Rem 700 .300 RUM scoped $1500
Redfield binos $300
Leupold rangefinder $450

Not too bad so far at $5550 not counting the ammo cache.

When I sold all my scuba gear, this is about what I got in return, so I am just shifting assets away from scuba back to hunting on dry land.

I always get beautiful guns, 4WD vehicles not fast, and ugly women but grateful ones just like the song says (If You Wanna Be Happy For the Rest Of Your Life).

 

[DesertFox]

If my firearms collection value ever gets near to or exceeds my tool collection, then I'll get worried.

My firearms collection is my biggest tool collection.

When I was young, I had a friend whose dad was a long time FFL and gynecologist. Crates of ammo, FALs, everything-under-the-sun and such would show up at his practice. Shooting range in basement, regularly fired gold custom engraved Colt single actions. Because of his influence and collection, I was able to fire everything-under-the-sun, hence wetting my appetite for such a collection when I became a man of means. Once I realized that I would never become a man of means, I figured out how to acquire such through simple hard work and lots of layaway.

When I look at how much I've spent, it can be a bit alarming. I do have a C&R FFL, reload, hunt and spend quite a bit of range time all of which require fun tickets. But those early 1990 era purchased S&W revolvers that were $250 are all going for $1K now...

 

[larryh1108]

One thing is to add up the value of your guns. They have a value today and will tomorrow. I don't feel you can add in the value of ammo you bought and then shot. If you still have it sitting around, it has value because you can sell it. If you shot it, it's gone forever but it should not be part of your cost.
Why?
Well, the shooting part is the hobby or fun part. Adding the cost of ammo shot to your total gun addiction is not fair. Would you add the cost of a round of golf to it? How about the pizza you ate or the beer you drank or the movie you went to. That's all money gone as well but we chalk it up to leisure spending. You can count the cost of ammo shot as part of your leisure spending but it's not fair to add it to the cost of owning guns. It skews the number and makes it seem a lot worse than it really is especially considering you can still sell your guns if needed. The true cost of owning guns is the price paid versus the price you can get paid for them adjusted for inflation. Add in any accessories, repairs or upgrades and you get your true cost. Ammo shot is just that. Call it pizza and beer money, not the cost of owning firearms.

 

[DammitBoy]

I've made money on every gun I've ever sold. Hell I made $400 on an sks I paid $90 for this last weekend. I regret I didn't buy more $90 sks's!

I've also regretted most of the sales I made at some point or another.

 

[loose noose]

Thanks Larry I needed that!

 

[abq87120]

Lol. Noobs (and yours truly) quickly learn(ed) that the gun is the cheap part of shooting.

 

[wrs840]

Cost analysis?

A Wife, kids, hearth-and-home, religion, or a new vehicle... would be hard to Justify on a Balance Sheet.

That doesn't make them an imprudent addition to one's life.

 

[ElToro]

you dont want to know. i could liquidate and buy a nice new car. but that would be no fun.

 

[mcdonl]

I just buy guns and shoot them. The only paperwork I do is reloading data and trapline data. Paperwork is for work. Toys are for fun.

 

[larryh1108]

i could liquidate and buy a nice new car. but that would be no fun

Yes, but if you drive the car (like shooting the guns) the car will be worth next to nothing in 10 years while you should be able to get the same, if not more, for your guns in the same 10 year period.

Even though new guns depreciate, much like new cars, if you buy used and keep it well maintained, you should be able to get the same money for it down the road. You shoot it, shoot it and shoot it some more and it won't depreciate. So, if you buy a nice, used Sig for $500, put 5,000 rounds thru it and sell it in 5 or 6 years, you should still get the same $500 for it, if not more. You do lose the value of the dollar (inflation) but for all practical purposes you shot for all those years for the cost of ammo (which, to me, is not a cost of owning guns). Bottom line is your hobby does not cost that much if you don't count ammo shot. The ammo shot is money spent on leisure which is no different than going golfing, bowling or to dinner and the movies.

 

[Zach S]

I was more shocked at the amount of time I spent the money in, than I was the amount I spent...

The current price of ammo has put a damper on my rangetime though. I hate glocks, which is one reason I chose a Glock 19 as my beater pistol, but other than my rimfires its what I shoot the most. I recently purchased an STI Spartan in 9mm so I could shoot my preferred platform in a cheaper caliber. It'll see carry duty once it proves itself, and like the 5" Kimber, it will see regular rangetime as well.

On that note, buying a gun to save money on ammo is like buying a smaller car to save money on gas. I didn't see the point when a tank of gas lasted me a week, but due to the 94 mile round trip to work, that tank of gas doesn't last that long...

I'll never shoot as much as I used to, but it would be nice to shoot twice as much for the same cost. And unlike the cars, I'm selling a pistol to offset the cost of the new one.

 

[TanklessPro]

Sounds like a good idea, until about 2 minutes in and you start feeling bad, because you told your spouse we had no money for the kids shoes. :banghead:
I agree with the others, you can't put a price on enjoyment.

 

[Zach S]

Sounds like a good idea, until about 2 minutes in and you start feeling bad, because you told your spouse we had no money for the kids shoes.

Eh, I spent most of the money while I was single, free, and living cheap. And if it didn't get spent on guns, it got spent on the hot rod.

Besides, my ex would go to the store for a pack of smokes, and come back with smokes, a 2 liter Mountain Dew, chips and dip, and a 20oz Mountain Dew since she couldn't wait 5 minutes to get home a pour a glass... Those $5 trips that ended up being $20 instead cost us a lot more than the money I spent on guns during the course of our marriage.

 

[jrdolall]

I keep a spreadsheet with all info on every gun purchase and update it occasionally with MSRP from Gunbrokers just to keep info for insurance purposes. I have a lot of guns that were given to me by friends and relatives so I keep that info on the sheet. I also put the name of the person I want to have the gun in case of my sudden demise. That is cheaper than changing the Will every month or so and my wife knows what my intentions are. I do not keep up with ammo and accessories like magazines and scopes though I probably should. Especially on the scopes that cost a lot..

 

[SpeedAKL]

I ran a ballpark estimate for insurance purposes a few months ago. I was surprised at the total value, but that was largely due to an M1A1 Carbine I received as family heirloom. At the time I had no idea Carbines were selling for that amount. The total collection value still pales in comparison to many on this site, though!

 

[tekarra]

I did and I was surprised; good thing the wife didn't see it.