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

[Hokkmike]

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/

 

[joeschmoe]

Everyone sing;

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

 

[MifflinKid]

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]

If I were a gun dealer and had any political insight, I would have made a killing too...

 

[Sam Cade]

I think it is more likely that this guy purchased $250,000 worth of firearms.

 

[4v50 Gary]

And what will he do when the panic subsides? Will he be able to recover his money?

 

[jdh]

 

[santanzchild]

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]

Wish I had that crystal ball. He will make about $2.5M if he's not too greedy.

 

[Jorg Nysgerrig]

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]

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]

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]

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]

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]

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]

Remember Tickle-Me-Elmo? Similar motive.

 

[Sam Cade]

How would you even store 200,000 ARs?

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

 

[Sam1911]

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! 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]

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]

If he bought the right stuff, he could eaily double his money.

 

[guyfromohio]

I love math.

 

[hueyville]

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]

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]

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]

hueyville, that was the most interesting post I've ever seen related to the "panic." Good on you, sir.