Speculators see rise in gun prices if Obama wins - 13 WTHR Indianapolis

The presidential race appears to be giving an unexpected boost to at least one business - gun sales.

Sale of assault rifles are going through the roof, as talk by President Barack Obama of an assault weapons ban has some guns doubling in price.

"Because a lot of them are talking, they are just putting them away. Right now, the stock market is down, they are getting better returns on these rifles if the election goes Barack Obama's way," said Greg Burge, Beech Grove Firearms.

Gun prices are set like anything else, by supply and demand - and demand is skyrocketing. Since Obama took office, gun sales have set records every year.

"So once he said that, everybody knew immediately, if he wins on November 6 or November 7, gun prices will double," said Burge.

It is based primarily on the assumption that the administration would restrict access to certain models. Buyers are betting that the guns selling for $1,000 today will be selling for a lot more later.

"So if you can buy a rifle today for, say, $900 and speculate that after the election and, if he should win it, is gonna be worth $1,800, you can do the percentages versus your 401," said .

The demand is not just for new guns.

"What I consider collectible guns, you know, pre-1899 and earlier, even that market, we've seen an uptick in lately," said Matt Dinger, Lost Dutchman Rare Coins.

Dinger makes a living buying and selling collectible guns and also has an eye on modern guns and the recent price swing.

"Definitely some speculation going on," he said.