This is something that seems to be fairly wide spread in firearms that babyboomers like. It also is true of many of the other items and collectibles they like such as houses and vintage cars.

Contrary to what we often see when an item is "hot" is the fallacy that things will always remain hot even though every single collectible known to man cycles, baseball cards, gold, cars, colts, shotguns, high end sports cars in the late 80s, houses, cowboy guns etc. etc.

When people think they could unload an item instantly and probably at a nice profit they pull the trigger quickly. Once they see prices go flat or drop buyers get FAR more selective in their buying and sellers get nervous and start to sell. Selective buyers and nervous sellers equal correction.

Whenever something is in short supply a few well healed buyers can seriously move a market. Eventually those collectors move on to something else, or pass away etc bring lots of guns back onto the market as well.

The problem that the vast majority of baby boomers have not thought through yet is that generation X is FAR FAR FAR smaller in numbers and when the time comes to sell the 2nd home, the McMansion, the Holland and Holland and the Colt SAA collection they will be selling into a seriously smaller market.

Whenever people start talking about HAVING to own something, it being a sure thing, not making any more real estate etc, head for the hills.

While I don't think the end will be tomorrow holding off on $50,000 doubles is probably a prudent move at this point.