The proposed firearm buyback presents an important public policy challenge that extends beyond the mechanics of surrendering firearms. It also raises the question of how governments can ensure owners receive compensation that is fair, evidence-based and reflective of the genuine market value of their property. Where firearms possess significant collector, historical or rarity value, the role of an AVAA Certified Valuer (CVAu) becomes particularly important.
The Australian Valuers and Auctioneers Association (AVAA) is undertaking advocacy to ensure that state and territory governments incorporate independent professional valuation, undertaken by professionals with the respected CVAu credential, into any mandatory firearms buyback scheme for firearms that fall outside standard compensation schedules. This position reflects the longstanding principle that fair compensation should recognise genuine differences in market value rather than relying solely on broad classifications.
It is understood that the 1996 National Firearms Buyback Scheme recognised this principle. While standard compensation schedules applied to many commonly held firearms, provision existed for individually assessing firearms whose characteristics placed them outside normal market expectations. This approach acknowledged that two firearms appearing almost identical could have dramatically different market values.
Professional valuers holding the respected AVAA Certified Valuer (CVAu) credential have shared numerous examples demonstrating this reality. They advise a firearm’s date of manufacture, production numbers, military history, originality, condition, provenance and rarity can all significantly influence value. For example, a .303 rifle manufactured at the Lithgow Small Arms Factory during the First World War may command more than fifty times the value of an outwardly similar rifle produced by the same factory during the Second World War. Similar examples exist across many firearm categories, where subtle differences that may not be immediately apparent have a substantial effect on market value.
It is understood that some states and territories may instead follow an approach similar to that adopted in Western Australia, where compensation is determined through predetermined schedules for broad firearm categories. While such schedules may provide administrative simplicity, they also carry the risk that historically significant, rare or highly collectable firearms may receive compensation that bears little relationship to their actual market value.
AVAA believes appropriately qualified valuers should be available to independently assess firearms where owners believe scheduled compensation does not reflect true market value. The AVAA Certified Valuer (CVAu) credential provides assurance that the valuer adheres to rigorous professional standards, undertakes continuing professional development, and operates within a recognised ethical framework.
AVAA’s policy advocacy has followed discussions with the Sporting Shooters Association of Australia (SSAA), the peak body representing firearms owners. While recognising that firearms policy is a matter for governments and SSAA is the lead policy advocacy body, AVAA’s focus remains on ensuring that any compensation framework provides access to independent, professional valuation backed by those with the CVAu credential.
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Interested In Finding Out More?
If you’re interested in AVAA’s member-driven policy advocacy associated with the coming firearms buyback, send an email to government.affairs@avaa.com.au or telephone 1300 928 165. You can also stay up to date by following AVAA on LinkedIn, X/Twitter and Facebook.
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