I'd suggest that it depends on the type of 12 gauge. In this economy, people aren't spending as broadly on guns in general. Add to that, if someone is buying something it probably isn't a "commodity gun" because everyone has 10 friends selling Mossberg 500s and Remington 870s these days. If you want one, you can buy a like new one for a fraction of original cost. Commoditized 12 gauge guns are not in demand because there is a surplus. (one friend of mine has 8 clunker 12 gauge pumps and nothing else...does he need 8?)
Now if we're talking about a 2.5" game gun or even a 2" chambered vintage 12 bore, those seem to be as saleable as any other premium double gun out there.
I guess the point is, commoditized guns aren't in short supply but they are in limited demand. The premium stuff (sub-gauge guns) and best grade 12s are still saleable at fair prices.
