Market Insights:

A combination of social, political and epidemiological issues cause demand for firearms to skyrocket in 2020. In fact, information from NICS indicates firearm purchases were up 60% in 2020 over the prior year — providing a good proxy for firearm sales, as nearly all firearm purchases and transfers require a background check.

While most of the firearms sold in 2020 were new, there were also many previously owned firearms purchased from firearm retailers.

To take a deeper dive into the used-firearm market, we turn to Southwick Associates’ Consumer Tracking Study, where an online panel of hunters and recreational shooters share information on their hunting/shooting participation and purchases on a regular basis. Respondents are asked to indicate whether each firearm they report buying was new or used, along with a variety of other information on their purchase — providing a good picture of the overall firearm market.

More Or Fewer Used Guns?

The first question we explore is whether there were more or fewer previously owned firearms sold in 2020 compared to an average year. The short, obvious answer is many more used firearms were sold in 2020, as firearm sales were up significantly overall. However, the percentage of used firearms sold versus new was very consistent with previous years.

Just under a third of traditional rifles purchased in 2020 were reported to be previously owned, compared to slightly more than a quarter of handguns and less than a quarter of shotguns.

Intended Use Varies

Another notable difference is the purpose of used-firearm purchases versus their new counterparts. Used-firearm purchases were twice as likely to have been purchased for the primary purpose of “collecting” compared to new firearms.

This is true across all firearm types examined here and helps to reveal one of the main reasons hunters and shooters find themselves in the market for a used firearm.

Keep Tabs On This Market

The demand for both new and used firearms continues to be strong during the first half of 2021, as is evidenced by the NICS firearm checks data published for January–June 2021 (at press time).

”Used-firearm purchases were twice as likely to have been purchased for the primary purpose of “collecting” compared to new firearms.”

This unprecedented demand for firearms may leave some customers less selective about the type of firearm they ultimately purchase, and more likely to consider a previously owned firearm if it’s the only option available. There’s also a segment of more budget-conscious customers who are happy to consider a well-maintained used firearm.

Thus, it’s essential for firearm retailers to continue to keep an eye on the market for used firearms, accept them as trade-ins and offer these as regular options to their customers.

Editor’s Note: Southwick Associates’ 2020 Hunting and Shooting Retail Market Size Report is now available, providing market size estimates for new firearms as well as all types of hunting and shooting equipment. It also includes figures related to sales of AR/MSR-style rifles. To learn more about this report or for answers to other questions related to the hunting and shooting market, contact Southwick Associates at Nancy@southwickassociates.com, or visit southwickassociates.com.

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