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Nearly 1 million for a gun.
garanch
Member Posts: 3,681 ✭
1836 Colt revolver sets world record price for a gun
Written by Auction House PR
Monday, 26 September 2011 15:31
DALLAS - An exceptional, rare and fine ivory-gripped Texas, or Holster Model No. 5, Paterson Revolver from the Al Cali Collection realized $977,500 as part of Greg Martin Auctions/Heritage Auctions Signaturer Arms & Armor Auction in Dallas on Sept. 18, setting a world record price realized for a single firearm sold at auction. All prices include 15 percent buyer's premium.
It was purchased by an anonymous West Coast collector, who auction house officials will identify only as a Silicon Valley mogul.
"There are certain collectibles that transcend genre, period and form and exist simply as great works of art," said Greg Martin, president of Arms & Armor at Greg Martin Auctions/Heritage Auctions, "and clearly this supremely beautiful firearm is such a thing. The nearly seven-figure final price realized proves just how great a piece this is, and well worthy of being the world record holder."
The auction, altogether, realized more than $8 million, with 583 bidders vying for 378 lots, translating into a 90 percent sell-through rate by lot value. Altogether, the top four lots of the Cali Collection brought more than $3.28 million.
The revolver, with a 9-inch barrel and attached loading lever, is the finest known surviving example of Samuel Colt's first revolver, produced by the legendary gunsmith in Paterson, N.J., in 1836.
"This is as desirable as any piece that exists, and as desirable as any piece I've seen in my more than 40 years of buying and selling the very best firearms in existence," said Martin. "Out of maybe 3,000 similar pieces made, with most likely less than 300 surviving, this is clearly among the very best, and the market realized that."
A pair of Colt revolvers came in a tie for the auction's second most valuable lot, both realizing $805,000 prices realized , and both also originating in the amazing Al Cali Collection.The first was an exceptional historic, cased, engraved and presentation inscribed Colt Model 1861 New Model Navy Revolver, From the Colt Co. to E.W. Parsons, of Adams Express Co., doubling its $400,000-plus estimate. It was followed by a historic cased Gustave Young-engraved and ivory-gripped Colt Third Model Dragoon Revolver, Inscribed "Colonel P.M. Milliken," which also performed well above its $500,000-plus estimate.
Another famous Colt pistol brought the admiration of gun-aficionados and the serious consideration of many high-end collectors; the fine and exceptional historic Colt Walker Model Civilian Series Revolver, more commonly known as "The Thumbprint Walker," One of only 100 made, out of the mere surviving examples, most are in poor condition. This must be the the finest known, and it soared to $690,000.
"Prices like these, which show that craftsmanship, rarity, beauty and historical importance bring a true premium," said Martin, "also show that serious buyers know that pieces like these are real investments, certain to appreciate in value as the years progress, and certainly worth serious consideration when it comes time to bid."
Further highlights include:
Cased, inscribed and custom-made set of Colt Model 1851 Navy and Model 1855 pocket sidehammer revolvers, poroperty of Loren Ballou, an employee of Col. Samuel Colt. Realized: $575,000.
Fine and exceptional cased and engraved Colt Model 1851 Squareback Navy or Belt Model Revolver. Realized: $373,750.
Fine and historic cased, engraved and inscribed Colt Model 1855 Pocket Sidehammer Revolver with charter oak grip, presented by the inventor to arms dealer J.I. Spies. Realized: $345,000.
Fine and exceptional cased, engraved and relief carved and checkered ebony-gripped Colt Model 1851 Navy Revolver, known as "The Black Beauty." Realized: $322,000.
Exceptional and fine cased, engraved and carved ivory-gripped Colt Model 1862 Police Model Revolver Serial number 37951/E. .36-caliber, 5-shot semi-fluted and rebated cylinder, 4 1/2-inch round barrel with brass pin front sight, top of barrel stamped with single line "Address Col. Saml. Colt New-York U.S. America." Realized: $253,000.
Fine and exceptional U.S. martially marked Colt Model 1851 Navy Revolver, the First Model Attachable Shoulder Stock, with Canteen Insert: Realized: $207,000.
For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.
Last Updated on Monday, 26 September 2011 16:38
Read more: http://acn.liveauctioneers.com/index.php/auctions/auction-results/5576-1836-colt-revolver-sets-world-record-price-for-a-gun#ixzz1ZGvzqAMV
Written by Auction House PR
Monday, 26 September 2011 15:31
DALLAS - An exceptional, rare and fine ivory-gripped Texas, or Holster Model No. 5, Paterson Revolver from the Al Cali Collection realized $977,500 as part of Greg Martin Auctions/Heritage Auctions Signaturer Arms & Armor Auction in Dallas on Sept. 18, setting a world record price realized for a single firearm sold at auction. All prices include 15 percent buyer's premium.
It was purchased by an anonymous West Coast collector, who auction house officials will identify only as a Silicon Valley mogul.
"There are certain collectibles that transcend genre, period and form and exist simply as great works of art," said Greg Martin, president of Arms & Armor at Greg Martin Auctions/Heritage Auctions, "and clearly this supremely beautiful firearm is such a thing. The nearly seven-figure final price realized proves just how great a piece this is, and well worthy of being the world record holder."
The auction, altogether, realized more than $8 million, with 583 bidders vying for 378 lots, translating into a 90 percent sell-through rate by lot value. Altogether, the top four lots of the Cali Collection brought more than $3.28 million.
The revolver, with a 9-inch barrel and attached loading lever, is the finest known surviving example of Samuel Colt's first revolver, produced by the legendary gunsmith in Paterson, N.J., in 1836.
"This is as desirable as any piece that exists, and as desirable as any piece I've seen in my more than 40 years of buying and selling the very best firearms in existence," said Martin. "Out of maybe 3,000 similar pieces made, with most likely less than 300 surviving, this is clearly among the very best, and the market realized that."
A pair of Colt revolvers came in a tie for the auction's second most valuable lot, both realizing $805,000 prices realized , and both also originating in the amazing Al Cali Collection.The first was an exceptional historic, cased, engraved and presentation inscribed Colt Model 1861 New Model Navy Revolver, From the Colt Co. to E.W. Parsons, of Adams Express Co., doubling its $400,000-plus estimate. It was followed by a historic cased Gustave Young-engraved and ivory-gripped Colt Third Model Dragoon Revolver, Inscribed "Colonel P.M. Milliken," which also performed well above its $500,000-plus estimate.
Another famous Colt pistol brought the admiration of gun-aficionados and the serious consideration of many high-end collectors; the fine and exceptional historic Colt Walker Model Civilian Series Revolver, more commonly known as "The Thumbprint Walker," One of only 100 made, out of the mere surviving examples, most are in poor condition. This must be the the finest known, and it soared to $690,000.
"Prices like these, which show that craftsmanship, rarity, beauty and historical importance bring a true premium," said Martin, "also show that serious buyers know that pieces like these are real investments, certain to appreciate in value as the years progress, and certainly worth serious consideration when it comes time to bid."
Further highlights include:
Cased, inscribed and custom-made set of Colt Model 1851 Navy and Model 1855 pocket sidehammer revolvers, poroperty of Loren Ballou, an employee of Col. Samuel Colt. Realized: $575,000.
Fine and exceptional cased and engraved Colt Model 1851 Squareback Navy or Belt Model Revolver. Realized: $373,750.
Fine and historic cased, engraved and inscribed Colt Model 1855 Pocket Sidehammer Revolver with charter oak grip, presented by the inventor to arms dealer J.I. Spies. Realized: $345,000.
Fine and exceptional cased, engraved and relief carved and checkered ebony-gripped Colt Model 1851 Navy Revolver, known as "The Black Beauty." Realized: $322,000.
Exceptional and fine cased, engraved and carved ivory-gripped Colt Model 1862 Police Model Revolver Serial number 37951/E. .36-caliber, 5-shot semi-fluted and rebated cylinder, 4 1/2-inch round barrel with brass pin front sight, top of barrel stamped with single line "Address Col. Saml. Colt New-York U.S. America." Realized: $253,000.
Fine and exceptional U.S. martially marked Colt Model 1851 Navy Revolver, the First Model Attachable Shoulder Stock, with Canteen Insert: Realized: $207,000.
For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.
Last Updated on Monday, 26 September 2011 16:38
Read more: http://acn.liveauctioneers.com/index.php/auctions/auction-results/5576-1836-colt-revolver-sets-world-record-price-for-a-gun#ixzz1ZGvzqAMV
Comments
Gee, for the buyers sake I hope it's been drop tested and is on the approved list.
It's a revolver. He should be good.
I don't see any "safties" anywhere! [;)]
I was hoping my hundred bucks might have a chance. [:(]
[:D][:D]
Let this be a lesson to those that don't sell to California. [:D]
Hey now!
Those auction folks that won't sell to CA. are just practicing their right to say and do what they think (or don't) ... don't cha know?
[:0] [}:)] [;)]
The ivory on the upper end of the left grip is crazed!
I wonder if the right side is in as sorry a shape?
[:0] [}:)] [;)]
quote:Originally posted by calrugerfan
Let this be a lesson to those that don't sell to California. [:D]
Hey now!
Those auction folks that won't sell to CA. are just practicing their right to say and do what they think (or don't) ... don't cha know?
[:0] [}:)] [;)]
Umm... technically it wasn't a firearm since it was a black powder pistol made in 1836. But on the whole Heritage will ship to California.
Fools and their money...
Holy B'jeezus, Batman!
Sour grapes? Classic 'I can't afford it, so I'll denegrate the entire aspect' type deal?
Best stop. The purchaser will probably ensconce it with his precious metals. He may not even care that [the investment] happened to be a firearm.
Big business eludes the proleteriat again. Joe
Sure hope Capt Fun does'nt get any ideas [:0]
$997K--THEN $150,000 buyers premium.
Sure hope Capt Fun does'nt get any ideas [:0]
No it was 997 including the juice. I can personally guarantee that Heritage would have screamed a press release from the rooftops if they got a million for ANY item.
And I believe the pistol went to someone who will keep it as a collectible piece of history. I personally don't blame him as he couldn't do worse in the stock market right now. Plus there's the "cool" factor.
OK....where's the damn trigger?
I believe it drops down when the hammer is cocked.
Holy B'jeezus, Batman!
Sour grapes? Classic 'I can't afford it, so I'll denegrate the entire aspect' type deal?
...
Big business eludes the proleteriat again. Joe
Haha, not bitter but I did catch myself reminiscing about an earlier thread wherein many generally equated quality with cost. As far as a working class monkey's understanding of economics goes, you may have a point. I fail to see how paying a record breaking price for a good or service constitutes a sound business model... perhaps you could explain that one for the rest of us? [;)]
Same as with a Rembrandt, or a Caravaggio.
Perspective time:
Fine Courvoisier VSOP. Would you merely swallow, or place it into the proper vessel, and savor the experience?
If the latter, then you 'get it', and it also implies that you should be able to adjust the idea of 'getting it' to a grand scale, as you have shown that you are able to grasp what I'm so desperately trying to convey..
Joe
quote:Originally posted by givette
Holy B'jeezus, Batman!
Sour grapes? Classic 'I can't afford it, so I'll denegrate the entire aspect' type deal?
...
Big business eludes the proleteriat again. Joe
Haha, not bitter but I did catch myself reminiscing about an earlier thread wherein many generally equated quality with cost. As far as a working class monkey's understanding of economics goes, you may have a point. I fail to see how paying a record breaking price for a good or service constitutes a sound business model... perhaps you could explain that one for the rest of us? [;)]
As far as I know an individual purchased the pistol as a collectible. Right know, to the best of my knowledge, individuals are still free to do what they want with the money they earned. It sounds like you don't collect anything. Sometimes there is a satisfaction in ownership that goes well beyond utility.
If it was purchased for a business and I was a shareholder, I would be screaming for accountability. Again, there is no evidence of that.
quote:Originally posted by swampgut
OK....where's the damn trigger?
I believe it drops down when the hammer is cocked.
thats pretty safe...