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People stop buying them at that price and it will come down. Problem is the people who still buy during the panics. Makes it last that much longer.Gone are the days of $45 and under for primers at sportsmans. As of the 11th primers jumped up $2-5 a sleeve and $20-50 per brick.
I do this same experiment with kids in a classroom. Take 20 cupcakes and 30 kids, let them bid on a cupcake with class currency they earn throughout the week for doing their work well. The first few cupcakes might be bought for relatively cheap because the panic hasn't started. When the kids realize that there are not enough cupcakes for everyone they start to bid really high. Some kid inevitably says to the class "if we don't bid the price will be really low," so they try to encourage others not to bid it up, but the other kids don't care because they want their cupcake and there isn't a guarantee they will get it if they don't bid it up.
I haven't bought primers or powder since things got crazy, and I don't plan too. The prices will grow as inflation continues to reduce the buying power of the dollar, but the cost of ammo currently is more about panic buying and demand compared to supply, than anything else.