Have you done a cost analysis of your collection?

[armoredman]

It's a hobby. I don't flowchart hobbies - I keep current spending to limits within budget. I have a separate rider on my insurance for guns, just in case, but no, I really don't think abut or track what I've spent. The total might be a little scary, probably enough for at least one fancy sports car if not two.

 

[hogshead]

Desert Fox, an ffl and gynecologist sounds like a dream job. I spent most of my money on beer, horse's and guns ,the rest I just wasted.

 

[postalnut25]

Between the guns, the trucks, and the booze- I really DON'T want to know what I've blown.

 

[Hardtarget]

I'm in line with several others, in that I don't really want to know. I have lots of fun with the few I own and looking back, I haven't bought many of the guns in my safe. They were gifts or inherited.

If you own guns, you also buy ammo, cases to carry them in, oils and cleaners for their well being, club memberships for their field trips, and all those accessories...scopes and special sights and lasers, lights, slings and such.

So, the guns are part of my life and the fun of living it. The cost is not something I want to put a math equation on. Too much fun to throw a dollar sign at.

Mark

 

[Gtimothy]

Strictly for insurance purposes. Doesn't really matter what I spent as long as I can still afford to pay my bills! I'm spending my kids inheritance!

 

[bannockburn]

I have inventoried and have had my collection appraised for insurance purposes but doubt if I would ever do a cost analysis of it. It's a hobby to me and I really don't have a reason to crunch numbers just for a financial report.

 

[DesertFox]

Yep hogshead, he was the ultimate in my book. My first exposure to Barrett 50BMG semi-auto, Thompson 1928 full-auto, MP40 full-auto, real Dragunov (not PSL), Galil full-auto, sheer craziness. New neighbors would call the sheriff who would say, "Oh, Jim must be up at his place. Nothing to worry about." Then he'd come rolling up to come shoot with us! Ah the good ole days.

 

[Rembrandt]

For my collection I review the "current retail value" about once a year.....using Gunbroker and reference books. It's pretty easy to change the "current value" amount if needed in NMCollectors software. The program keeps a running total to let you know how much it's increased.

To date the collection is worth 232% more than it cost. That number is based on the presumption I could get full blown current retail price if liquidated....which is unrealistic. If I based the liquidation value on what a pawn shop or dealer might give the percentage drops considerably.

Fortunately I've kept every receipt, box, and scrap of paper for every gun in the collection....as well as accessories and gunsmithing costs for each one. Makes it more accurate to know exactly how much is in each one.

Have all the receipts for ammo, components and reloading equipment....but don't keep tabs on the totals.