Anger in the bush as NSW gun buyback scheme labelled 'like stealing'

Farmers, sporting shooters and gun sellers are reacting angrily to the New South Wales government's buyback scheme.

In December, NSW brought in limits of four firearms for most licence holders, and 10 firearms for others, like farmers and sports shooters.

The buyback will see those with excess firearms receive up to $1,000 for each weapon from November 2, with the aim to remove 274,000 guns from circulation.

Grazier John Kater, from Gin Gin in western NSW, said the compensation being offered was "like stealing" because many people paid much more for guns they may now be required to hand back.

"The compensation amounts at the moment don't justify the expense of the people who have gone out and bought guns," he said.

"Just taking back firearms from people who are already law-abiding citizens is not going to help prevent another Bondi event.

"Will the criminals and the terrorists hand their guns in just because there's a gun buyback?

Mr Kater said the government should instead look closely at gun categories and licensing.

"The money of a buyback could be better spent going back towards programs to make sure the registrations are above board and making sure there's enough government funding for the bureaucracy to have it sorted," he said.

NSW Premier Chris Minns and Prime Minister Anthony Albanese formally announced the gun buyback scheme over the weekend, describing it as "bigger than the Howard-era".

"This is a big undertaking, but the principle behind it is simple: fewer dangerous guns in our community means a safer New South Wales," Mr Minns said in a statement.

In the initial stage of the buyback, there will be a fixed price schedule ranging from $450 for an air rifle to $1,000 for a centre-fire rifle or revolver.

Starting early next year, owners of more expensive firearms with an "indicative market value above $3,000" can apply for compensation which will be capped at $10,000 a gun.

There will be a flat fee for associated ammunition handed in.

Grants of up to $25,000 and licence fee relief worth $500 will be available to dealers.

Shooters treated with 'contempt'

Doug Alcock, the director of coaching at the NSW Sporting Clays Association, said its members had been treated with contempt.

"This isn't fair value," he said.

"It's a basic copy of the West Australian buyback.

"It's a pretty poor attempt, pretty disingenuous, it shows contempt really."

Nicky Bourke is a gun shop owner in Dubbo in western NSW.

She said the most popular firearms in her shop sold for more than $1,900.

"What do you tell somebody who bought one just before Bondi, that they're only going to get $850 for it, if that?" she said.

Regional business impact

Ms Bourke said firearm sales at her shop had dropped off significantly over the past six months.

"I would say we're down 90 per cent in firearm sales, just firearms themselves," she said.

"Financially, it's dragged on too long."

In a similar situation, Tamworth gun maker Jeff Bacon said businesses were hurting "really bad".

He said turnover for his shop was down 80 per cent since the Bondi Beach terror attack in December last year.

"We've already seen businesses close," Mr Bacon said.

While the scheme was brought in to address public-safety concerns in the wake of the Bondi massacre, Mr Bacon does not believe it will achieve that goal.

"Arbitrary caps on firearms, that's not going to make any difference," he said.

"If someone wants to obtain a firearm, they [can] do it illegally."