Got a Colt!

Well, I got roped into serving on the Friends of the NRA committee. I didn't take the day off from work but managed to be able to go to the banquet anyway. I would like to say that it wasn't free, I dropped $550 on entry tickets for various prizes. I was pretty stoked about the Colt being in the prizes though. I figure if I win something, great, if not, it goes to a good program. We raised quite a bit of money tonight and had a good time. There were two prizes for the 'high roller' drawing, the Colt and a circassian stocked Ruger 7mm - 08. The Ruger was gorgeous, and honestly it was a tough choice for me.









The faux engraving is pretty cool and being one of 1125 guns makes it nice. Unfortunately its a 1991A1, a series 80, and has an awful trigger, not that I'd shoot it anyway.

Well give it to me for 650.00 and I will shoot it every day. Congrats on winning it.
Eric

Very nice! Congratulations on your win!

$550.00? You'll only make money if you ever sell it.

That's nice!

Most likely Slim, there are a couple on Gunbroker now for $2200 and $2500.

Gumpys you wouldn't seriously shoot it?

I don't think I could own that. As an investment it probably has to remain unshot right? Better for me to sell now and take a nice profit before I just had to see how it shot.

Matt,
In a heartbeat, it does not matter if I spend 100 or 10,000 on a gun, I will shoot all my guns , not one of them sits as a display. I will never understand buying a gun and not shooting it.
Eric

gumpys said:

Matt,
In a heartbeat, it does not matter if I spend 100 or 10,000 on a gun, I will shoot all my guns , not one of them sits as a display. I will never understand buying a gun and not shooting it.
Eric

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Collectors don't buy guns to shoot. They buy them to collect, and their value is monetary, not shooting enjoyment. The value of a piece, especially a rare or unique piece, is higher if it remains unfired and if it has the original box, papers, tools (if any), etc.

GKC said:

gumpys said:

Matt,
In a heartbeat, it does not matter if I spend 100 or 10,000 on a gun, I will shoot all my guns , not one of them sits as a display. I will never understand buying a gun and not shooting it.
Eric

Click to expand...

Collectors don't buy guns to shoot. They buy them to collect, and their value is monetary, not shooting enjoyment. The value of a piece, especially a rare or unique piece, is higher if it remains unfired and if it has the original box, papers, tools (if any), etc.

Click to expand...

Hi Ken,
I understand that, but like I said I am not going to spend money on a firearm I can not shoot and enjoy.
Eric

ArmedinAZ said:

I don't think I could own that. As an investment it probably has to remain unshot right? Better for me to sell now and take a nice profit before I just had to see how it shot.

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Its my policy to not own any gun I can't shoot, there is some stuff I don't shoot, but this is the only gun I own that I can't shoot.

I may let it set for a while and see what the demand is. There are a couple on Gunbroker right now that are at $2200 and higher and not selling. I think I'd want at least $1500 for it.

mattsbox99 said:

ArmedinAZ said:

I don't think I could own that. As an investment it probably has to remain unshot right? Better for me to sell now and take a nice profit before I just had to see how it shot.

Click to expand...

Its my policy to not own any gun I can't shoot, there is some stuff I don't shoot, but this is the only gun I own that I can't shoot.

I may let it set for a while and see what the demand is. There are a couple on Gunbroker right now that are at $2200 and higher and not selling. I think I'd want at least $1500 for it.

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You dropped $550 with no expectations of breaking even. Throw it up on GB starting at $1100 with no reserve, double your money guaranteed & more probably. Specially if you don't want to own a pistol you can't shoot.

I never do those raffle deals. I could buy 99 tickets and you buy 1 and they'd pick yours out guaranteed.

Did win something at our company cook-out yesterday...but they had prizes for everyone. :roll:

I'm not really lucky, but then again I don't play the games either. Its harder to win if you don't play!

I guess its technically beginner's luck, because I've never spent more than $50 on any raffle. Heck, last year I was so broke I got the dinner ticket and that was my spending money for the month!

I'm not in a hurry to sell it, I'll just hang on to it for a while. I know a few guys that would give their eye teeth for it already. They are diehard Colt collectors. One of them has every year of the pre WWI 1911s in 98% condition.

Well, it's got to be a little bit fun to own something like that for a while no matter what you decide to do with it.

That is my take on it, I have photos and 150+ people at the dinner that saw it.

Funny thing is, the tickets I got allowed three entries into the 'super prize' given away after all the state dinners, so I could still win three more guns!

Matt
What I would do If I did not plan on keeping it, try to sell it for 2,000 and buy 2 bad azz smiths and 2 bad azz Ruger's.
Eric

Our Dinner auctioned this Colt. Initial Cost was under 1000 to the Committee. Top bid was $1650. Did not have a Ruger rifle offered on the venue, due to samller first Dinner(I assume) Am on the 2012 Committee and will see what shakes out next year. The money goes to a great cause. All of us should attend the local dinners held in your personal arena. 8)

Are there people out there who would actually BUY this gun as a collectable?

The gun is certainly not to my taste, but that aside, how large is the market for these guns? Guns on Gunbroker were mentioned, but have any actually SOLD on Gunbroker? (My pet peeve with people mentioning Gunbroker is they say they see them listed at so and so $. I've seen guns listed for well over a year w/o selling. That guns are listed on GB for X amount doesn't mean diddly.)

The "instant collectable" market tends to bag only suckers. When the suckers run out the market collapse for a long time.

ETA: I see you stated this in a second post: "There are a couple on Gunbroker right now that are at $2200 and higher and not selling. I think I'd want at least $1500 for it."

You may have a hard time getting even the $1500. The gun is IMHO, borderline tacky, like all such "commmemoratives". And there is the old collectors rule which states that anything made to be collectable, isn't.

Good luck with selling your gun. I hope I'm wrong and the gun sells quickly for you.

clayflingythingy said:

Are there people out there who would actually BUY this gun as a collectable?

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Yep ~ if I understand it correctly, (in the Southern IL Region) all these at FONRA events have brought in the $1600.00 range. Heard one fetched almost $3000.00 when two guys decided they couldn't live without it.

Our event is next week. I'll try to remember to report the auction amount then. I think we're the last 2011 event in IL.

BTW ~ I bought a $20.00 raffle ticket for one and if I win it ~ for a $20 investment ~ you can bet I'll shoot the living daylights out of it.

hittman said:

clayflingythingy said:

Are there people out there who would actually BUY this gun as a collectable?

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Yep ~ if I understand it correctly, (in the Southern IL Region) all these at FONRA events have brought in the $1600.00 range. Heard one fetched almost $3000.00 when two guys decided they couldn't live without it.

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I would add this caveat tho: when people make an purchase at an charity auction or FONRA type event, they are often making a "statement" and the $ amount paid is in no way connected to the actual "market rate" of the item being purchased.

Perhaps these guns really are worth $1600 on the open market. I have often been wrong before and will be again!

clayflingythingy said:

I would add this caveat tho: when people make an purchase at an charity auction or FONRA type event, they are often making a "statement" and the $ amount paid is in no way connected to the actual "market rate" of the item being purchased.

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If these guns are only available at a FONRA event ~ then isn't it the open market?