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Old July 5, 2012, 03:15 PM   #1
jlb43
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Reproduction Prices Up

From some of this weekend's auction results it appears the price of reproductions is getting up there. At RIA an "Italian Copy" of an 1860 Colt Army with a "factory letter" sold for $881.00. The letter was from Colt and was for an original 1860 with the same serial number as the copy. Is that supposed to be worth something?

Also at RIA a "reproduction" of a Colt Paterson and a couple of "reproduction" flasks went for $1762.00. The manufacturer of the Paterson and or date of manufacture was listed as unknown. The only markings were the Colt Patent Arms engraving on the barrel top and the serial number 285. The gun was made to look like the real thing but when I inquired about it, RIA said it was a replica and not a Colt. There were also a couple of 2nd and 3rd Gen BP Colts that reeled in some decent cash especially when when you add 17.5% buyers premiums to what the hammer price was.
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Old July 5, 2012, 05:07 PM   #2
arcticap
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Quite often, no matter what these buyers are paying, tomorrow's bidders will be paying even more. Maybe not always but often enough. For the most part the bidders are in control of the price, and while there's proabably more collectors, it's not like those old collectibles are still being made to keep them all happy. And rare and uncommon guns aren't likely to become less rare and less uncommon, but rather only increasingly more rare and more uncommon.
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Old July 5, 2012, 05:25 PM   #3
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whoever bought those ,had more money than brains.
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Old July 5, 2012, 06:57 PM   #4
Fingers McGee
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I had bid on - and lost - a couple of he 2nd Gens at a level that I though was all the money. When you figure the buyers premium on what the hammer price ended up being, they went for more than NIB Blue book values.
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Old July 5, 2012, 07:16 PM   #5
jlb43
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Do you think maybe some of these bidders might be hoping for "a diamond in the rough" so to speak?

Has anyone ever seen an Italian 1860 Army sell for more than a NIB Colt 2nd or 3rd generation version? The letter simply said there was a gun made with that serial number and the date it was shipped. I am trying to understand how that affected the value of a non Colt copy.

I had RIA send me some pictures of the Paterson prior to the auction and it looked like it could have been a true old timer except the grip shape was considerably different from any pictures of originals I have ever seen and the engraving seemed too crisp for a gun that old. It was much more like a modern day reproduction which is exactly what RIA said it was.

I happen to be hooked on Patersons so I looked around on line and I did find an engraved Paterson replica that sold at auction in 2005 for $2,995.00. It was described as "a fine reproduction probably by Replica Arms in the 50's intended to deceive". The picture was just a thumbnail so I could not see the actual gun.

Maybe there is hope for us replica collectors after all.
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Old July 5, 2012, 08:07 PM   #6
Hardcase
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It may be painting with a broad brush, but auctions are funny things. Folks seem to get "auction fever" and pay much more than they should. I haven't given up on them entirely, but it's been a couple of years since I've bought anything at auction - and not for lack of trying.

On the other hand, it very well could be that I'm just a cheapskate.
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Old July 5, 2012, 08:55 PM   #7
Al Den
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Remember how much Colt was selling letters for when they did last -- was it $600? Add a Colt Signature of interestingly matching serial number and someone thought it was a cool conversation piece.
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Old July 6, 2012, 08:22 AM   #8
Willie Sutton
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Colt letter and a replica pistol with the same S/N = a recipe for a forgery sometime in the future...



Willie

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Old July 6, 2012, 08:53 AM   #9
Hawg
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Quote:
was it $600?
Last I know for sure was several years ago at 200. I did hear they went to three after that but I never confirmed it.
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Old July 6, 2012, 10:10 AM   #10
Doc Hoy
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What Hardcase said...

...and that is putting it kindly.
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Old July 8, 2012, 06:23 AM   #11
4V50 Gary
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A Colt Factory letter for a gun that probably doesn't exist anymore? Combine that with a modern replica? No additional value to either and as suggested, it's ripe for a forgery.
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Old July 8, 2012, 09:00 AM   #12
Hawg
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Colt letter and a replica pistol with the same S/N = a recipe for a forgery sometime in the future...
Or possibly just a really neat display. The problem could arise with heirs that don't know any better and try to pass it off as the real deal.
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Old July 8, 2012, 10:13 AM   #13
Willie Sutton
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Agreed.


If Colt still does letters, seems that you could pick up any Uberti, send that same number to Colt, get a letter, and...


Willie


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Old July 8, 2012, 01:11 PM   #14
Hawg
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I think most now are way beyond Colt production numbers. Just fer grins and giggles I looked up the Colt number for my Pietta 51 and was over the Colt numbers by about 30,000.
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Old July 8, 2012, 07:19 PM   #15
scorpi0
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Book Value?!

Fingers......Those 2nd gen. Colts in a mint un fired condition are getting rarer and rarer with every day passed. I also was bidding on some of the Colts listed in the last RIA and won none!
Book values will need to be adjusted as per what people are willing to pay for those beauties.....between all of us, 2nd gen. Colts are way undervalued!!
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Old July 9, 2012, 08:44 AM   #16
madcratebuilder
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Quote:
Book values will need to be adjusted as per what people are willing to pay for those beauties.....between all of us, 2nd gen. Colts are way undervalued!!
Want to buy mine? Package deal? I like high prices when I think about selling, problem is I never sell anything.


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Old July 9, 2012, 07:05 PM   #17
scorpi0
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Want to buy mine? Package deal?

I can sell you some! tell me what you need.......
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