I have sold a few cases and large lots of ammo over the past week or so. All of my sales have been to either younger guys in their 20s-30s and a couple of collectors around my age.
Before the pan(ic)demic our State legislature was well on its' way to passing a number of anti-gun measures--magazine capacity limits, 2 week waiting periods for long gun purchases, proof of ownership and registration for ammo purchases, bans on "ghost" guns and the parts to complete them etc., so many guys were starting to buy up ammo and hi-cap magazines. There is genuine concern that our 2A rights are going to be further restricted, so people are looking to buy now while they can.
Then the full-on pandemic lockdowns started happening and these guys were caught short on ammo. The collectors were looking for a case of ammo for the battle rifles in their collections (an FN-FAL and an M-1 Garand). They had the cash what they didn't have was the time to find the ammo they wanted, so I elected to help ease their anxiety (at a fair price, they're both friends but we've never shot together).
The younger guys were looking for 9mm and 5.56, of course. They too had the $, I think in part because they couldn't spend it in restaurants, bars and clubs.
Living on an island, we here have all become acutely aware of the supply chain and the long term effects of shortages (hell, I think we invented TP hoarding/shortages). What good is money if you can't get anything you want with it?
Some people may laugh at the panic buying of TP but I can tell you that getting caught short on basic necessities, coupled with having to endure long lines and growing frustration can trigger an almost "survivalist" mentality in a person. Once they've secured an adequate supply of whatever it is, the pressure subsides and they have a huge sense of relief.
The trouble is, with the nearly nationwide lockdown in place, there's almost always something else in short supply, so the hunt goes on.
I almost always buy my supplies on sale but now if the stores have it on the shelf or in the freezer I'll buy some even if it's at full retail. That's really foreign to me; I'm no spendthrift but what good is my paycheck if I can't find a loaf of bread? And yes, I do acknowledge that I'm one of the lucky ones who still have a job and a paycheck.
Re-read the various shortage-related threads: some of the guys who have stockpiles of ammo and components (or food or TP or whatever) have a somewhat condescending attitude towards other, definitely less prepared, people.
That's ok with me (I've got more than the average bear); just don't feign indignation when I decide to profit off of the situation. After all, how much of your ammo are you willing to sell (at the cost you paid for it) right now?
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It's currently a don't hold your breath kind of thing. 
