I was at a local gun show this past weekend. Military caliber ammo cost 4 times what it was less than a month ago and most military style rifles were selling for at least twice (AR's $1,800-$2,300, AK's $800-$1,000+) their pre December rates. Hi-cap rifle mags were averaging 2-3 times the pre Newtown prices at $30-$40 for 20 & 30 rounders. OTOH, there was plenty of ammo for sale, no shortage of magazines and there were as many "black" rifles available as usual. Pistols and pistol mags were in ample supply and there didn't seem to be any appreciable price increases on them since the show held here in November. I have plenty of ammo and enough AR's and AK's in the safe already so I wasn't looking to buy a new rifle. However, I did break down and buy a complete NIB Bushmaster upper with two 30 rd mags in 7.62x39 that will go on one of my M&P-15 rifles. Best of all it was actually $100 LESS than the $800+ MSRP listed at the BM website. Other tables also offered complete uppers, with some 5.56 uppers selling for as little as $500. I guess the panic buying hasn't reached everything or everybody yet! Anyway, supplies of everything were at about the usual levels, the crowds were even bigger than usual and except for the already mentioned items, there were still good deals to be had.
FWIW, the next scheduled show here will be in March. I can hardly wait to see if the upward trend in prices has continued or leveled off. Better yet, maybe prices will have started to crash! Maybe, all the folks who bought up and hoarded guns & ammo hoping to cash in will be scrambling to unload those same guns & ammo as they see prices drop and supplies return to normal?