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Colt 45 SAA value research - what next?

Jim Lower
I've got a Colt 45 SAA that I eventually plan to sell. So far, I've got The Letter from Colt and I've got the letter from Mr Kopec. With those in hand, I'm now wondering if my next logical step is to send it to an appraiser, and if so then who?

Alternatively, if not an appraiser then where should it go next? I'm not in a hurry, but I don't want to drag it out any longer than is reasonable.

I've thought about starting an auction here, but I don't feel qualified to even set a reasonable reserve. Any advice would be greatly appreciated!

Gun pics:
http://techquarium.com/gallery2z/d/32284-1/DSC_2537.jpg
http://techquarium.com/gallery2z/d/32288-1/DSC_2538.jpg
http://techquarium.com/gallery2z/d/32292-1/DSC_2539.jpg
http://techquarium.com/gallery2z/d/32296-1/DSC_2540.jpg

Colt letter:
http://techquarium.com/gallery2z/d/37765-2/Colt+Letter.jpg

Kopec letter:
http://techquarium.com/gallery2z/d/37784-2/Kopec1_001.jpg
http://techquarium.com/gallery2z/d/37787-2/Kopec2_001.jpg
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Comments

10 comments

Date Votes
  • rufe-snow
    My 2?, Per Kopec's letter, the buffing and refinishing is going to have quite a negative affect on collectors value. Base your starting auction price on this, as rightly or wrongly it will have substantial affect with collectors. My experience, some guys with the money to be choosy won't even consider a bubbaed firearm no matter how historically desirable it is. Because of this your likely buyer would be one who would be happy with a less then perfect "represenative" piece for his collection. You should have got Kopec's input on this, when he had the hand-on with it.
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  • yoshmyster
    Neat history. As a dust colletor she might not get top dollar. But the fixes were done at the factory so I reckon she'll get better price than a no name guy fix.

    I'm kind a wondering if she'll be a shooter with smokeless. Also is the gun a family pass down?

    As for the price take her to your local gun shops and get an average price and go from there. If you get something like $600 and you feel the price is too low add $200 more to the price and set a reserve. As what the reserve price? Set it at what the lowest you'll take. Personally if you ain't hurting for cash I'd sit on her until better times.
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  • nmyers
    I wouldn't pay for an appraisal; even the appraisers at the high end auction houses are often way off in their estimates. You might want to send your photos to Rock Island Auctions, Little Johns, & Amoskeag; they seem to have a lot of customers with deep pockets & limited gun knowledge, & all would be glad to give you an estimate for free, in the hope that you will list with them.

    If you want to list it on GB, don't do so with a reserve; many of us exclude reserve auctions from our searches. Reserve auctions are often used by folks playing games, & I think you may fall into that category. If you seriously want to sell your gun, list it with a starting price at the absolute minimum you would be willing to accept. If it doesn't sell, you can alway relist at a lower price.

    Neal
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  • Spider7115
    quote:Originally posted by nmyers
    I wouldn't pay for an appraisal; even the appraisers at the high end auction houses are often way off in their estimates. You might want to send your photos to Rock Island Auctions, Little Johns, & Amoskeag; they seem to have a lot of customers with deep pockets & limited gun knowledge, & all would be glad to give you an estimate for free, in the hope that you will list with them.

    If you want to list it on GB, don't do so with a reserve; many of us exclude reserve auctions from our searches. Reserve auctions are often used by folks playing games, & I think you may fall into that category. If you seriously want to sell your gun, list it with a starting price at the absolute minimum you would be willing to accept. If it doesn't sell, you can alway relist at a lower price.

    Neal

    I agree with Neal. Most serious buyers, including me, won't even bother to look at a "hidden reserve" auction. Just list your lowest price you'll take with no reserve and you'll get legitimate bids. Buyers hate "guessing games". Besides, even though your Colt has been refinished, it's still a documented Colt Artillery Model and you will get fair market value on the auction side.
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  • Jim Lower
    Thanks guys, no reserve it is, I'm a bit new at this. The info I have now came courtesy of posters at coltforum.com who have been tremendously helpful, but hadn't discussed the nuances of selling.

    I do know the re-blue and buffing make the pistol much less valuable. On the other hand, the Rough Rider history is apparently a big plus.

    Mr Kopec made an offer for it after doing the authentication. I declined, but I guess that makes a good number for my "bottom dollar" price. He also asked me to let him know when I decide what I'd like to have for it.

    yoshmyster - It is a family pass down, my dad bought it from a pawn shop when he came home from the Korean War. Still, I don't look at it as "my father's gun" - there's another pistol that fills that role which I'll always keep and pass along to my heirs. This Colt , on the other hand, needs to go. I'm not a collector, it's wasted on me.

    I like the idea of sending the pics and letters to the brick & mortar auctioneers - will get right on that. In the meantime, this thing can go back to living at the bank in the safe deposit box because my insurance agent put his fingers in his ears and said "LALALALA I CAN'T HEAR YOU" when I asked if he covered it. [:)]
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  • Old-Colts
    Great Artillery, great provenance, congratulations, a Rough Riders Single Action, wow!!! [^]

    I'm really scratching my head over one thing. In the first picture it sure looks like "45" is stamped on the left side of the barrel. However, Kopec states that the barrel came from an original Cavalry issue revolver serial number 120362 with the "12" added as a prefix, which I know Colt did during that refurbishment, but he didn't explain the "45". That would usually indicate a civilian barrel that had been stamped "45 Colt" with the "Colt" portion buffed off. U.S. Single Actions didn't have the caliber stamp on the barrel; no need since they were all chambered in 45 Colt.

    I'm very surprised that he didn't address that "45" stamp on the barrel! Oh well, I'm sure as heck not going to argue with or question Kopec!!!!!!!!!!!! [:0]

    You've now got his letter and stamp of approval; you can take that to the bank! However, I do think that prospective buyers will scratch their heads also over that "45" stamp and might proceed cautiously, but they can argue with Kopec because I'm sure not going to!!!!!!!! [:D]
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  • 1KYDSTR
    quote:Originally posted by Jim Lower
    Thanks guys, no reserve it is, I'm a bit new at this. The info I have now came courtesy of posters at coltforum.com who have been tremendously helpful, but hadn't discussed the nuances of selling.

    I do know the re-blue and buffing make the pistol much less valuable. On the other hand, the Rough Rider history is apparently a big plus.

    Mr Kopec made an offer for it after doing the authentication. I declined, but I guess that makes a good number for my "bottom dollar" price. He also asked me to let him know when I decide what I'd like to have for it.

    yoshmyster - It is a family pass down, my dad bought it from a pawn shop when he came home from the Korean War. Still, I don't look at it as "my father's gun" - there's another pistol that fills that role which I'll always keep and pass along to my heirs. This Colt , on the other hand, needs to go. I'm not a collector, it's wasted on me.

    I like the idea of sending the pics and letters to the brick & mortar auctioneers - will get right on that. In the meantime, this thing can go back to living at the bank in the safe deposit box because my insurance agent put his fingers in his ears and said "LALALALA I CAN'T HEAR YOU" when I asked if he covered it. [:)]


    Thanks Mr Lower!!! I was having a lousy day so far...you just brightened it up a ways for me! Thought I was going to pee myself when I read that! I have been watching throughout this pistols soujourn here at ATE and the documentation and research you have done are commendable. You have been given VERY sage advice by Neal, Spyder and Old-Colt's as well; stick with it and follow their advice. I too thoroughly avoid reserve auctions...pain in the arse.
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  • givette
    "Mr Kopec made an offer for it after doing the authentication. I declined, but I guess that makes a good number for my "bottom dollar" price. He also asked me to let him know when I decide what I'd like to have for it"

    Well, list it at the 'Kopec' price. Then, list it here at auction here at GB, and, out of courtesy to Kopec, send him a link to the auction once you have it up and running.

    Don't go less than seven days on the auction..and include the Colt letters and the Kopec letters in the auction title! How's this...

    "Colt Artillery SAA-Colt Lettered/Kopec Verified"
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  • Spartacus
    agree with the above, and i'm very interested in the gun. have you listed it yet? can you post a link please?
    thanks
    tom
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  • Jim Lower
    quote:Originally posted by tplumeri
    agree with the above, and i'm very interested in the gun. have you listed it yet? can you post a link please?
    thanks
    tom


    Not listed, not yet anyway. I have a number in my head to start an auction with, but I think I'll sleep on it until next week. I also want to contact Mr Kopec and let him know.

    Thanks everyone for all the good advice.
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