2023 Gun Prices and Trends (2024)

FAQs

What is the market trend for guns? ›

How big is the firearms market? The market size for firearms was valued at USD 41.7 billion in 2023 and is estimated to register a CAGR of over 6% between 2024 and 2032, driven by the changing regulatory environment for firearms across several economies.

It's hard to argue that any genre of gun collecting has experienced faster price growth than classic military arms. M1 Garands, K98 rifles, and combat shotguns have all seen their values rise dramatically.

Gavin Newsom signed a law that will add a 11% state tax on firearms and ammo — making California the only state in the U.S. to have such a tax.

While most well-maintained, high-quality guns don't depreciate, buying guns as an investment while they are at top dollar isn't a good idea. Just like you would do when investing in the stock market, buy low and sell high.

The gun industry is finding its footing after sliding from a record-setting sales streak during the pandemic. Top manufacturers have had to slow down production and slash prices to retain profits. Many in the industry are banking on newer weapons and better marketing strategies to woo consumers.

The decline is a bit less severe when looking at the entire second quarter, but it's still there. The 3,654,134 sales from the second quarter of this year are down 6.7 percent from last year and 67 percent from 2020's all-time high. The decline from 2020's unprecedented numbers should come as no surprise.

Guns are a fairly durable good and they retain their value over time very well. As long as you keep a firearm in good condition you can usually expect to get 75-90 percent of what you paid for it. If you keep a firearm long enough that it becomes collectible, that value may rise just like any other item.

36011. Imposition and rate of tax. Commencing July 1, 2024, an excise tax is hereby imposed upon licensed firearms dealers, firearms manufacturers, and ammunition vendors, at the rate of 11 percent of the gross receipts from the retail sale in this state of any firearm, firearm precursor part, or ammunition.

A good quality, well maintained, gun will hold its value and its resale value will at least keep up with inflation. A gun that is a true classic or one of those “they don't make them like that anymore” firearms can be worth considerably more than its modern equivalent.

Is a gun considered an asset? ›

A gun is an item of personal property. As such, it is an asset. A gun cannot be a liability. An improper use of a gun can create a liability, such as a lawsuit, but that is true of any asset, and it does not affect the status of the gun itself as an asset.

Many gun shops even struggled to keep product on the shelves during the mad rush of 2020 and early 2021, and only now is supply meeting demand. For manufacturers, there are still supply chain bottlenecks to contend with, while the cost of raw materials continues to go higher.

Although motivated by a variety of interests and objectives, all antique gun collectors benefit by educating themselves about the major factors influencing the price of a weapon: its make and model, condition, history and provenance, rarity, and artistic appeal.

What was the market size of the Guns & Ammunition Manufacturing industry in the US in 2023? The market size, measured by revenue, of the Guns & Ammunition Manufacturing industry was $20.8bn in 2023.

“Individuals illegally engaged in the business of unlicensed firearms dealing are contributing more and more to the flow of firearms into the black market, where we know that felons, gang members and other violent offenders often get their guns,” said Steven M. Dettelbach, the A.T.F.'s director.

The U.S. firearm industry is worth approximately $28 billion. With the most firearms in the world, the U.S. firearm industry contributes a significant amount to the U.S. economy, up to $51.3 billion each year.