October 27, 2022
This Westley Richards & Co. shotgun was created for Lady Diana Spencer’s 1981 nuptials. It is rare, has a unique ownership history, and is beautifully decorated. Jim Supica, Director at the NRA Firearms Museum has written three articles about gun collecting. Supica’s articles are helpful if you are interested in starting your own collection. The first article discusses the basics of gun collection, while the second explains five key factors that influence gun values. The third article explains where you can find rare and valuable weapons. According to Supica, the five most important factors that determine a gun’s worth are: Make and model, Condition, Rarity History, Art — These five factors… appeal to collectors, and help determine the price of collectible guns. Make and ModelMake and Model tend to be the first point of evaluation for collectible guns for most collectors. It will also be a basic threshold for those with specialized collections. Colt Single Action Army revolvers have been the focus of collectors for many decades. It is clear that they were popular in the post-Civil War era. There has been a shift in gun collecting that focuses on a wider range of guns than the blue-chip Colts, Winchesters and Lugers.
Colt Single Action Army Revolvers are still a highly sought-after and collectible firearm. Condition (and Originality)Obviously, condition plays a major role in the value of a collectible firearm. New collectors have been advised to only buy guns in the best possible condition and to pay more for them. This emphasis on condition seems to have been developed in the 1970s, 1980s. This trend was a strong one in the 1970s and 1980s. I have never understood the appeal of “mint guns” and think they are more appropriate for stamp or coin collecting than a field where the historical use of the artifact is so important and significant. A segment of collectors isn’t too concerned about the gun’s condition. As long as it is original and not altered in any way that makes it more desirable (and in my opinion often misguided), there is no problem. 3. Rarity Although there may be only five examples of a gun, if only three people are interested in it, the market will be saturated. There is more interest in capturing rare variations within established collecting areas. There is a revival in the collecting philosophy of compiling a punchlist with variations and models within a specialization. This leads to fierce competition for rare examples. When new research is published that reveals the rarity and value of certain variations, there can be a lot of interest in these guns in emerging collecting fields. 4. History. Individual guns that have a history of ownership by a particular individual or use in a specific historical event are always a fascination for collectors as well historians and the general public. This is a sign of a basic human interest that shows no signs of abatement. This positive trend suggests that there is an increase in understanding of the documentation that must be attached to a historically attributed firearm to give it credibility and to preserve such documentation.
Photo NRA Museum. Photo NRA Museum. Fine engraved guns are more sought after for their artistic value rather than their usefulness as firearms. The market for classic engravings by the great engravers from the 19th and 20th Centuries is strong, as well for recent factory-engraved pieces. Recent non-factory engraving seems less popular than… the trend to add modern engraving to older firearms.
Here’s a matching set featuring three pistols, one each of the three types Ben Shostle, an Indiana engraving wizard, has engraved — a Luger and one Mauser, and one Colt. Photo courtesy Amoskeag Auction Company.Factory-custom engraving should not be confused with mass-produced, factory-made commemorative firearms, which flooded the market in the 1960s and 1970s. This genre was dominated by a few major manufacturers. Prices for commemoratives have stagnated for many years, although there are signs of revival.
Many collectors are not able to afford high-quality original finish guns in good condition. This is why period-of-use refinished guns as well as older factory-refinished guns are attracting more buyers than ever before. Another factor that may influence collector preferences in the future is the availability of high-quality restoration services. It is becoming increasingly difficult for even the most knowledgeable collectors to tell the difference between mint original finish guns and those that have had restorations done to them by the top restoration artists. If such restoration is disclosed to potential buyers (as it ethically should), the gun’s price will be significantly lower than a similar gun with original finishes and may even be less than the original gun’s cost plus the cost for the rework. This creates a strong incentive for motivated sellers to deceive, either through active misrepresentation (a.k.a. This creates a strong incentive for a motivated seller to deceive, either by active misrepresentation (a.k.a. “fraud”), or passively by failing to mention the modification.
