Soft prices, my eye!

[delcrossv]

The Rock Island Premier auction ended on Sunday and certainly for collectible Smith & Wesson's the prices were anything but soft. A Ladysmith Target https://www.rockislandauction.com/detail/78/3321/smith-wesson-3rd-model-ladysmith-target-double-action-revolver went for over the maximum range expected and a 6 inch plain sight Ladysmith https://www.rockislandauction.com/detail/78/3563/smith-wesson-22-ladysmith-3rd-model-revolver went for almost 7,000.

Although those two are highly collectible guns, a first model https://www.rockislandauction.com/detail/78/1361/smith-wesson-22-ladysmith-1st-model-revolver went for over 2000 and a 3rdhttps://www.rockislandauction.com/detail/78/1363/smith-wesson-22-ladysmith-3rd-model-revolver model went for almost two thousand.
At least for high condition M frames, prices certainly aren't softening.

 

[Troystat]

Rock Island does get top prices more often than not. I have yet to win an auction on anything that I have bid on.

 

[delcrossv]

I've actually gotten a couple of deals at RIA, but not this time.

 

[mrcvs]

And here's a Triple Lock from the sale, hammering at $2,875: https://www.rockislandauction.com/d...hand-ejector-first-model-triple-lock-revolver

Grips have been replaced, which is a wash (sell what's on it and replace with pre-war N frame stocks with medallions), the condition is decent, but not spectacular. Sold for about a grand over what it is really worth.

I wrote a check for $2,818.04 earlier this year, and this is what I got: A TARGET MODEL Triple Lock with better condition as well. Also purchased at a national firearms auction house. Also with stocks that were later replacements (as pictured). These were sold and replaced with appropriate stocks.

I have heard that Rock Island Auction firearms tend to sell "spur of the moment" at inflated prices, and then there are problems afterwards. Some folks are dissatisfied with their purchases, which tends not to be the case with some of the other big players. I have never won an auction with them, and given some of the "problems" later identified, I would think twice about it unless the firearm came from a collection from a renowned and respected collector.

Registered Magnums were strong in the RIA sale as well, which suggests perhaps the ascent continues.

The antique stuff remains fair to middling.

 

[Green Frog]

I think what we're seeing is a market adjustment. Prime items (of any sort) remain prime items and tend to hold their value pretty well overall. When the markets begin to exhibit more exuberance, prices on second (or even third) tier items chase them up the price ladder to feed demand. As the market becomes saturated or speculators run out of excess cash (yes, I hear there is such a thing) the perception of a softening market is fed by weakening demand for lesser examples. High quality and low numbers will tend to demand top prices regardless. Can you slip in and grab the occasional bargain? Of course. Likewise will there be some occasions when there is an unusually large volume of money compared to the products available? Indubitably! It looks like some relatively top tier guns attracted some very deep pockets... the perfect time for me, at least, to just sit back and watch.

Froggie

 

[mrcvs]

I should ask, why are ANTIQUE. Smith & Wesson revolvers soft right now, even if top tier stuff? If one collects more modern top tier stuff, they are clearly not buying a "shooter". Might as well buy an antique--impeccable craftsmanship, more history and no paperwork/FFL involved. This means no record of the transaction with a government entity.

 

[H Richard]

I still say on-line bidding with higher buyer premiums is affecting prices. Just this week a buddy purchased a Mod 18-3 LNIB for 600. but paid 20% buyers premium, bringing the price up to $720 which is about the real value of the gun. The original seller gets shorted to the benefit of the auctioneer.

 

[delcrossv]

I still say on-line bidding with higher buyer premiums is affecting prices. Just this week a buddy purchased a Mod 18-3 LNIB for 600. but paid 20% buyers premium, bringing the price up to $720 which is about the real value of the gun. The original seller gets shorted to the benefit of the auctioneer.

That's sort of the nature of auctions. Auctioneers gotta eat too.

 

[gman51]

Sold to the highest bidder. number.. .. .. you got it.

 

[delcrossv]

If one collects more modern top tier stuff, they are clearly not buying a "shooter".

Says who?

 

[mrcvs]

Says who?

Okay usually not the case.

I've fired some nice stuff as well, but only occasionally. This includes antique stuff, with black powder.

 

[JH1951]

Somewhat like really pretty women with good personalities, top tier S&W items do not seem to be suffering for people to chase after them.
I watch the 1917 .45's on auctions. I have several, and am always game to add another. A year ago, it was a rare occasion for a very nice USGI one to top out at $2K. Recently, I have seen the nice ones up to $3K.
Then there was this last week where a very nice one in a box went out at $6,891.95!! I was interested in it to about $2500., and gave up because I have one just as nice, if not nicer, and had a few reservations about the one at auction......
Bottom line is that nice pieces have admirers, some of which seem to have a lot of disposable income. And for those that say boxes have no value and they would throw them away, y'all may wish to reevaluate the issue.

 

[S&WIowegan]

RIA and Inaccurate Descriptions

I have bought many guns from RIA and had very few complaints. I got one real stinker which was a beautiful S&W Second Model 44 Special Target. Superficially magnificent but when I got it home and removed the stocks the factory rework stamp was obvious. They refunded my money(except for shipping) and took the gun back.

I doubt this was intent to defraud, but clearly the descriptors are poorly trained or lazy. Gun was described as "99%" original finish.

Always go over your buys very carefully after you get them home!

 

[Modified]

I should ask, why are ANTIQUE. Smith & Wesson revolvers soft right now, even if top tier stuff? If one collects more modern top tier stuff, they are clearly not buying a "shooter". Might as well buy an antique--impeccable craftsmanship, more history and no paperwork/FFL involved. This means no record of the transaction with a government entity.

It's a market that has choked itself off.

As a younger collector I can say that my ability to buy antiques, decent antiques, has been severely limited, simply because there are few if any good entry level antiques to be had.

Speaking of the Model 3s and top break 22s at least.

The small top breaks have always been a weird market because of the insane number of copies, and amazing production numbers. I know a number of young people now who collect them, but that is simply because after I introduced them to the insane quality of a real S&W top break, they started hunting for the ones priced as if they were a cheap knock off.

Ultimately though, that doesn't translate well into paying real money for a good Model 3, Lever Action, or decent Tip Ups. The jump between a really good .32 or .32 top break, and a good Model 3 is prohibitive to most young people's budgets.

There's also just fewer of the good antiques, so they are mostly already in the hands of collectors. Whereas with the hand ejectors you have the potential for scoring big, for a pretty small amount of money. Hell, it was just this year that I bought a very high condition Registered Magnum for $1000 because the pawn shop couldn't identify it as anything special. But a high condition Model 3 is clearly special, even to the laziest of pawn shop guy.

The Winchester collectors I know often lament how no one young collects winchesters, and they are only selling them to other old guys. I always tell them that as much as I would love a good winchester, I can't afford the multi thousand dollar price tag to enter the market, which is what it takes to get a correct, decent condition, and interesting winchester now. The attic guns have pretty much all dried up at this point.