Gun Turn-in "buyback" High Prices for Guns, September 14, 2024, Columbus Ohio

Update: The event has been held. We should see some results soon. There were at least two private purchasers at the event.

Gun turn-in events are labeled with the Orwellian term "buyback". They are not "buybacks". You cannot "buyback" items you never owned. Columbus Ohio is planning to purchase guns with $100,000 on September 14, 2024. They will be paying more than market value for the guns. From dispatch.com:

The Columbus Office of Violence Prevention and Columbus police will be holding a gun buyback Downtown next weekend, with the city prepared to give out $100,000 in cash gift cards for guns.

The city's second anonymous gun buyback event will be held Saturday, Sept. 14 at Franklin University in Phillips Hall parking lot D, (303 S. Grant Ave.), from 10 a.m. to 2 p.m., according to a release. Residents aren't required to present an ID to exchange a firearm for a cash gift card.

In 2023,  344 guns were collected.  In 2023, gift cards of "up to" $750 would be handed out. Exactly how much per firearm was unclear. From columbus.gov, about the 2023 event:

Gift cards of up to $750.00 will be given in exchange for handguns, assault rifles, non-assault rifles and shotguns based on the type and condition of each firearm. All other firearms, including replica, antique, and non-working guns, will also be accepted and eligible for ONE $25 gift card regardless of the number or condition of the firearms turned in.

$136,600 in gift cards were distributed during the 2023 event. The preliminary totals were: Handguns 201, shotguns 75, rifles 68.  That averages a little less than $400 per firearm!  When you consider you can buy a new AR15 type rifle for about $400, this could be a money making opportunity.  If the same prices are for the 2024 event, the opportunity for "cheap guns" is small. The amount of money allocated for the 2024 event is $100,000.  In 2023, it was reported $106,225 was "left over" because they ran out of time. They turned people away, not because they ran out of money, but because they ran out of time. The philosophy for the event is the same as for most gun control polices: Guns are bad.  From myfox28.com, in 2023:

Mayor Andrew Ginther responded to those who expressed doubt about the
impact of these gun buyback events. Ginther says fewer guns make
everyone safer and that he is looking forward to more buyback events.

The Columbus gun turn in event stands out, because the city is deliberately offering more than market value, to provide an incentive for people to turn in guns. From 10tv.com, in 2024:

The amount offered also plays a factor. Shak said they opted to pay above market value for firearms turned in to incentivize people to participate.

The Columbus gun turn in event is meant to be an annual event. Those who received hundreds or thousands of dollars last year are very likely to be back this year. The line to turn in guns for more than market value will probably form early and be long.

The opportunity to purchase guns is best after the event is done, when either time or gift cards run out.  This makes the event more effective, as more guns are taken "off the street" for less money. As most of the guns are being turned in by people who are not interested in guns, some bargains might be found.

It is unlikely bargains will be found while the city is paying more than market value for the guns turned in. Homemade guns, such as 3D printed guns, were accepted in 2023. Replicas will be accepted, but only a $25 gift card will be paid out. At $25, it might be possible to print a replica of a small derringer, and make money.

The common, cheap and easy to make slam fire shotgun may be worth hundreds of dollars. It is not certain. In 2021, activists turned in homemade slamfire shotguns in Columbus, for $50 each.  The philosophy of paying more than market value was implemented in 2023, and considered a success.  It is a basic of economics, if you pay more for something, you get more of it.

©2023 by Dean Weingarten: Permission to share is granted when this notice and link are included.

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