Got a Colt!

[mattsbox99]

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.

 

[Anonymous]

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

 

[robfrommaine]

Very nice! Congratulations on your win!

 

[Skalkaho Slim]

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

That's nice!

 

[mattsbox99]

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

Gumpys you wouldn't seriously shoot it?

 

[ArmedinAZ]

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.

 

[Anonymous]

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

 

[GKC]

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

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.

 

[Anonymous]

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

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.

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

 

[mattsbox99]

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.

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.

 

[ArmedinAZ]

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.

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.

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:

 

[mattsbox99]

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.

 

[ArmedinAZ]

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.

 

[mattsbox99]

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!

 

[Anonymous]

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

 

[HAWKEYE#28]

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)

 

[clayflingythingy]

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.

 

[hittman]

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

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.

 

[clayflingythingy]

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

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.

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!

 

[hittman]

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.

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

 

[GKC]

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

You and me both, Eric. Now, I might buy something and then sell or trade it before I have a chance to shoot it, but it wasn't bought with the intention of not shooting it. I don't have enough money to collect valuable things just to collect them, and even if I did, I'd probably manage to scratch it or put some wear on it, just hauling it in and out of the safe to look at it, rack the slide, etc.

Speaking of lotteries (the only one I ever won was the draft lottery, but I had already enlisted in the Navy) I have never, ever won anything...my brother-in-law, who lives across the highway from us, is ALWAYS winning something, finding an incredible bargain, selling something at an incredible profit, etc. He could fall in a pail of pig poop and find a pearl, I kid you not. He loves to rub it in, too...most annoying human being alive! :x

 

[The Wall]

Hey, GKC I was in the Navy during those years. Where were you stationed?

 

[GKC]

Hey, GKC I was in the Navy during those years. Where were you stationed?

I went to boot camp and basic hospital corps school in San Diego, then to operating room technician school in Corpus Christi, Texas. (I was a corpsman.) Then I went to optician school in Williamsburg, VA. That was my first two years; the last two I spent at Cherry Point, NC, patching up Marines on their way to the brig. I worked in the Eye Clinic during the week, and stood duty in the ER nights and weekends. There were about 10,000 Marines stationed on that base, and about 9,900 of them liked to get drunk and fight every night. I never left the US (except for some liberty visits to Tijuana) but I felt like I spent two years in combat....

How about you?

 

[mattsbox99]

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)

Mike, ours was also the 'smaller' package of guns, but we had 2 ruger revolvers and 1 10/22 that we bought. The circassian 7mm-08 was part of the package that the NRA brings to the event. Also, we had the 'wall of guns' where people could buy a $10 ticket and if they won, pick from about 40 guns, where there were several Rugers available.

---

clayflingy, you may not pay $1500, but that doesn't mean somebody else won't. I haven't even decided to sell it yet, although the 1911 craze will probably not last much after this year. Being a 1991A1 makes it far less desireable than a 'real' Colt to me. I have many other 1911s to shoot so I wouldn't shoot this one anyway. Ours didn't go to a live auction, I purchased a package of raffle tickets that went into a bucket and were drawn at random. If it had gone to live auction, I wouldn't have bid on it. I would have bid on the Ruger though.

 

[clayflingythingy]

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.

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

No.

I have known people who attended DU banquets who decided before hand they were going to drop 2k.

It is possible the fella's bidding on these guns had decided they were going to drop 2K at the event before they ever walked in. The guady Colt catches their eye and they keep bidding until everyone else drops out.

Apparently, the market has decdided the guns are not worth 2K+ as reported above.

It will be interesting to see if the gun goes quickly, or sits, when listed @ $1500. I do hope mattsbox gets his price.

 

[mattsbox99]

The events are open to the public and many of these event draw large crowds. It is the open market because people are free to bid and bid on multiple different items. If two wealthy farmers who have nothing better to do with their money want it, they can bid. They won't see it in a store but there are other guns that get bid on that they can buy in a store.

 

[mattsbox99]

I ran into the winner of the 7mm-08 tonight and he mentioned he wanted a Henry Golden Boy 17HMR instead of the Ruger and I said I'd pay for the Henry and take the Ruger. He agreed so now I got what I really wanted!

 

[clayflingythingy]

Well, it appears at least one person is out there willing to pay $2200.

http://www.gunbroker.com/Auction/ViewItem.aspx?Item=253742766

This one was listed yesterday for $2300.

http://www.gunbroker.com/Auction/ViewItem.aspx?Item=255214980

Mattsbox, I was wrong. It does appear you may be able to get your price or more.

 

[mattsbox99]

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.

Ended up going with a penny auction on Gunbroker and it went for more than $2100. The proceeds will go towards some nice Rugers!

 

[ArmedinAZ]

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.

Ended up going with a penny auction on Gunbroker and it went for more than $2100. The proceeds will go towards some nice Rugers!

Congrats! Don't you just love capitalism??