Gunbroker Python for $75k

[Sevens]

The King of The Mountain! Colt 3" Stainless Wilkerson Combat Python $.01 NR - Revolvers at GunBroker.com : 847717545
This auction has ended so we can discuss it. I expect that nearly every reply in this thread will be negative but perhaps we can find even a blip of constructive conversation in here.

Quick overview: a rare Python was offered by a well known and respected seller, no reserve and a one-cent open. The seller also listed a Buy-It Now for $75,000.

The winner first bid $12,500 and later bid $38,500 but ultimately simply clicked the Buy It Now and claimed it for $75,000.

 

[hkcavalier]

Someone is sleeping on the couch until the 22nd century methinks.

 

[ContinentalOp]

Too rich for my blood, but if the buyer is willing to buy it at the seller's price, and the parties aren't committing any kind of fraud, theft, or other illegal act, I see no problem with it.

 

[ContinentalOp]

Was the buyer this guy? He does own a mansion and a yacht...

 

[HOGSTR]

Man I am glad the Colt bug never bit me, I'll stick to Smiths!

 

[Narragansett]

Just a bit over the top. There is another auction going on for serial #'s 1&2 Winchester M70's, if you have a spare 1,750,000.00 hanging around.

Me, I am still trying to find nice M28's for 600

 

[Sevens]

The seller is definitely legit. The buyer has many recent high dollar transactions and multiple from that seller. The #2 bidder who was his adversary has also recently spent big dollars on guns. Not a heap of "evidence" per se but all the easy red flags are not here, the auction does seem totally legitimate.

It just seems curious to me that the winner makes a bid at $38,500 and gets quickly outbid, then outbid again 90 minutes later... 30 minutes after that he spends almost TWICE his bid to own it at $75,000.

I make no comments whatsoever about what the subject gun might be worth, it's almost irrelevant (at least to me), I'm truly more interested in the auction process itself.

As a sidebar, for this kind of money, I would hire my FFL to drive with me and pick up the revolver and make my payment face to face.

 

[03hemi]

I'd polish it as soon as it arrived!

 

[ContinentalOp]

It just seems curious to me that the winner makes a bid at $38,500 and gets quickly outbid, then outbid again 90 minutes later... 30 minutes after that he spends almost TWICE his bid to own it at $75,000.

It could be legit. If the buyer wanted the gun badly enough, he was probably willing to pay the full price to avoid the risk of being outbid again.

Alternatively, if the seller was less-than-honorable, he could've been using a shill to escalate the bidding. But from what you said, that seems unlikely.

Just my thoughts.

 

[Valmet]

I can't think of any firearm I'd willingly pay over $40-50k for save a real Singer 1911 or transferable Stoner 63A, and definitely not a Colt revolver, like a Python. I prefer Smiths and wouldn't bid on the gun in question for even $2k, but tastes vary and that's the beauty of this hobby.

 

[lestert357]

It just seems curious to me that the winner makes a bid at $38,500 and gets quickly outbid, then outbid again 90 minutes later... 30 minutes after that he spends almost TWICE his bid to own it at $75,000.

The most I have ever committed to in a Buy It Now GB transaction was only about 10% of the above amount, but I think I understand the mentality of what the winner did here. I think there was two things going on in the winner's mind: (1) I REALLY want this Colt, and (2) there's AT LEAST one other well heeled guy out there that probably wants it as bad as I do. So, don't take a further chance on losing this auction - BUY IT NOW!!!!!

 

[Sevens]

It could be legit. If the buyer wanted the gun badly enough, he was probably willing to pay the full price to avoid the risk of being outbid again.

Alternatively, if the seller was less-than-honorable, he could've been using a shill to escalate the bidding. But from what you said, that seems unlikely.

Just my thoughts.

I totally agree with what you wrote here, I suppose I just wonder WHEN you decide to do this... my pea brain wants to say "okay, if it gets to $60,000 then I will click and pay $75,000..."

But it was at (only ) $38,749 when he said "you know what, instead of bidding $40,000 and seeing if others will keep up, I'm going to pay almost TWICE what it is currently at and take it home now."

That's where I am perplexed.

 

[Sevens]

The most I have ever committed to in a But It Now GB transaction was only about 10% of the above amount, but I think I understand the mentality of what the winner did here. I think there was two things going on in the winner's mind: (1) I REALLY want this Colt, and (2) there's AT LEAST one other well heeled guy out there that probably wants it as bad as I do. So, don't take a further chance on losing this auction - BUY IT NOW!!!!!

Definitely agree but let me put it in to numbers that fit your situation.

Your desired gun started at one cent. It was offered Buy It Now at $7,500. You bid $1,200 early and then you bid $3,850. Someone else bid it up $25. So then you said "okay, I'll just pay $7,500 right now."

That seems odd to me. But it's interesting for sure.

 

[BAM-BAM]

If there's one guy out there willing to pay $75,000;..... he's got to believe there's another who is also willing to pay $75,000......................



so it becomes a race to who goes to the "Buy it Now" button first!



$75,000= 0.000075 of a Billion...... or the guy could buy 13,333 of these guns for a Billion. Like buying a work of art..... converting your cash to an hard asset.

 

[Sevens]

Must admit that with his one (large) vote, he is pressing the market value for ugly Pythons up a tick. (oops, did I say that?)

 

[Muddyboot]

I wonder if Registered Mag # 1 would go that high?

 

[sodacan]

I wonder if Registered Mag # 1 would go that high?[/QUOTE
I'm guessing six figures, easily.

 

[Borderboss]

I guess a one-of-15 is a big deal to some specialty collectors. If you've got the dough and you want the thing, go for it.

Two snarky comments if I can:

1. I didn't know stainless steel was a "finish". I thought it was a material.

2. It was fired three times at the factory to test it. According to some folks on this board, the cylinder is probably already out of time.

 

[sodacan]

I wonder if Registered Mag # 1 would go that high?

I'm guessing six figures, easily.

 

[wetdog1911]

I wonder if Registered Mag # 1 would go that high?

IDK if #1 would, but I'd bet George S. Patton's R.M. would top it. I know GSP's is in a museum and likely R.M.#1 is also.

Rob