value question for modified guns.

[jimbo1096]

If a Ruger goes in for a facelift from a known gunshop, has a few mods done to it, and case colored, reblued, rebarrelled to factory length, a few touches like warning removed and custom sights and grips, where does that place the value in comparison to a RENE listed price for the same gun in comparable condition?
This for a model that is not produced anymore and of desirable configuration.
And for insurance and property valuation does the value get listed for the sum total invested in the piece or what the market value would be determined to be (as I can see this would be quite subjective)?
jh

 

[mhblaw]

Anything is worth what somebody is willing to pay for it...For insurance purposes, I list my custom firearms for what I paid for them.

 

[street]

After all that is done to them, all collector value is lost. Now that doesn't mean that they are not valuable, because they are. The price in the RENE is for guns in original factory shape that have not been changed. So there is no way that you can use that price. I have heard that it is very hard to get the original money back when you do a lot of modifications, so it looks as if the value will be somewhat less then the cost of the modifications plus the going rate for a shooter grade gun that you started off with. You can always hope that the buyer will have a big case of the "Pucker Factor" when you go to sell it.

 

[pete44ru]

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FWIW

My policy covers the replacement value............. YMMV


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[Ale-8(1)]

Anything is worth what somebody is willing to pay for it.

^^^ Fer shure! ^^^

:mrgreen: :wink: :mrgreen:

 

[mohavesam]

Recovering costs of any "modification" in a private sale is very rare and unreasonable in most all instances.
Recovering the same in an insurance loss is dependant on the coverage and riders you've purchased.

 

[Robb Barnes]

While a person should never go into a custom revolver project with the idea of "making" money on the project someday down the road I have found that certain modifications especially by some of the top gunsmiths normally get most of if not all a guys money back. A lot depends on the level of upgrades done and the overall sense of "flow" between the mods.

 

[Boxhead]

While a person should never go into a custom revolver project with the idea of "making" money on the project someday down the road I have found that certain modifications especially by some of the top gunsmiths normally get most of if not all a guys money back. A lot depends on the level of upgrades done and the overall sense of "flow" between the mods.

Yep. I just sold a custom Bowen built Bisley for $3,400 that I bought for $1,600 in 2007. I know I have others that I could sell and make good money on if desired.