I think that people are confusing a couple of things. (having been in the finance business for a few decades). There is obviously no question that MGs have been a great investment at the margin for the last 30 years. It has clearly been driven by the fixed pool, to the point where today an HK is a $2K gun attached to a $35K license. But, as they say, past performance is no guarantee of future results. The pool of buyers that can afford to play is getting increasingly smaller. It is inconceivable that todays $35k sear will go up another 35 times in the next 30 years (or even likely double). In addition, one can sell at these prices today at the margin (as few units at a time), but there is no chance there are funds available to get all of the older collectors out at current values. (175,000 guns in the registry at, pick a number, $20k each is $3.5 Billion dollars!). Two big auctions with a lot of inventory this fall may give a sense. Nevermind the, admittedly small, risk that the laws change. I say all of this as someone who has finally moved to a free state and has $100k in MGs and suppressors in paperwork. I suspect that there is at least a 50% chance that this will be a write-off, but fun while it (and I) lasted.