An Interesting Article…

From The Street– Investing in guns beats investing in the Tech Stocks… Seeking more bang for the buck? Set aside your views on gun control or perceptions of survivalist arsenals. Those who collect and sell firearms, many of whom are white-collar and affluent, often have turned a profit from their hobby-cum-investment. For example, a small pistol that gangster John Dillinger was carrying, hidden in a sock, when he was arrested in Arizona (six months before he was fatally gunned down in Chicago in 1934) sold for $95,600 at an auction held by Heritage Auction Galleries, a Dallas-based auction house that is the nation’s largest. The winning bid was more than double the pre-auction estimate of $35,000 to $45,000. With firearms, collectors are drawn to more than just a piece itself — they are paying for history. Pieces with relevance and context command the most money. Wartime relics are among the most valuable firearms, according to Dennis Lowe, director of militaria for Heritage Auction Galleries. “I’ve never seen firearms do anything but increase in value,” he said…

Read the whole article HERE.

This has been the ‘dirty little secret’ of those who attend major gun shows for years. There are people who attend who are not shooters, and are strictly prowling for ‘collectible’ guns. Some even brag they have NEVER shot a pistol, rifle or shotgun. And God forbid, they would EVER shoot a ‘collectible’ piece…

I guess I first saw the dedicated collector types back in the late 70’s mid-80s primarily at Houston, Dallas and Pomona shows. They were the ones that had a briefcase full of paper, looked only for specific guns, and were pretty secretive about what they were doing. Last year at Tulsa, I saw a rather more blatent approach by one fellow- He was looking for Pythons, picked one up, took a picture of it, called his ‘expert’ while he still had gun in hand, and promptly low-balled the seller (who was pissed, as supposedly no photos are allowed). I was talking to the seller later, he said that guy or one of his buddies came back at least 5-6 times all trying to get the pistol for less than it was marked for. I also ran into one of what I call the ‘good ol’ boy’ collectors… He was a ‘retired’ rancher/businessman who had fallen in love with Webley pistols, and now owns over a hundred of them (including, according to him, one of every model and caliber ever produced), BUT he actually shoots them…

The advent of the online auction sites has also prompted more people to get into the game, and I know of at least one pistol that was purchased out of a major auction that showed up on an on-line site the next day at twice what the guy had paid for it. The other thing that has happened, is that prices have gone out of sight… Witness what Murphy over at Laginappes Lair posted HERE. And that has also brought the fakes more and more into play on guns… sigh…

They are out there, so if a deal seems too good to be true, it probably is…

CAVEAT EMPTOR is the new word of the day in the gun world…

Comments

An Interesting Article… — 10 Comments

  1. Such collectors/”investors” have jacked the machine gun market too, buying up as many machine guns as they can just to put them in safes and watch them escalate.

    I laugh, because machine gun prices have dropped significantly over the past few years, but I also have to wonder how many great shooters are just gathering dust waiting for their value to rise.

  2. I have started buying guns over the last few years, mainly due to the administrations desire to take our guns. I kinda want to do the opposite of what Mr. Obama wants!

  3. I concur with your assessment. I am a member of the Colt Collectors Association and went to the national convention once. I was stunned! I have come to the conclusion that I can no longer afford any of my hobbies. (Well I did come out of there with a .38 Detective Special so….)

  4. Interesting. We’ve been priced out of the silver market and bought a couple of Colt percussion reproductions instead – I was able to convince my wife that they were an investment. I have my eye on a boxed, matched set of 2nd generation Colt 1851’s and this may convince her.

  5. Second drjim’s “metals” advice. Any firearm absent ammo is more or less a paperweight.
    Once silver coins got too dear, I shifted to various ammo and components (and some nice launchers every now and again). Cooper used to call ammo “ballistic wampum”. It’s not too far a stretch to see .22LR becoming “coin of the realm” as in Forstchen’s “One Second After”

  6. My S&W M13 (shown as my Icon) apparently is a rarity—it has a 2.5″ barrel rather than the usual 3″. It’s a special custom shop job and only a few were made with a 2.5″ barrel, factory bobbed hammer and Pro-shop trigger job.

    I bought it at a gun show as part of an estate sale. Some months later I mention I’d bought the pistol to a collector (although I didn’t know that at the time.) He kept asking me to see it. When I lifted my shirt to show it on my belt, his face fell and he said, “You actually shoot it?”

    Duh!

    He turned around and left.

  7. Murphy/Right/drjim- All Good points…

    WSF- Thanks

    Keads- I absolutely refuse to deal with either Colt or S&W collectors… They have tried to screw me way too often.

    Hunt- Good luck and those are NICE pistols!

    Boat Guy- Same here 🙂

    Crucis- LOVE it! I do not, and WILL not own any safe queens…

  8. The boxed Colts turned out to be the 1971 Grant and Lee matched set with matched serial numbers, of which 250 were made. I think we scored!