Registered Magnum market these days?

Howdy all,

Years ago when I started collecting I saw beautiful RM at a show, still with box and docs (a 5.5 or 6.5" with gold dot, IIRC) and fell in love with the idea of having one someday.

Lately much of my S&W 'gaps' have been getting filled in, and after seeing a rough example of an R.M. at a winter show last year got to thinking on these again.

They move fairly infrequently however, and prices seem to vary a good bit more from what I could see when they do sell.

I know the sites have some but in general, have those more in the know on the pre-war revolvers noticed any trends with these in the last few years? Should I even try to formulate a budget for one, or just keep stuffing the piggy bank 'til I see one that looks right and can go for it?

Cheers all!

My observations are, as follows, only following pre war revolvers, but I’ll stick to N frame revolvers, and what I know best—the Triple Lock revolver, and, to a lesser extent, the Registered Magnum. About 10 years ago, Registered Magnum revolvers started to really escalate, doubling in value over a short period of time, to the point where I thought the house of cards would collapse—and it never did. This trend continued until about the time of Covid when the escalation flattened. At least at the lower and moderate end of the spectrum. But these Registered Magnum revolvers have at least held their value. The top notch examples, in original boxes, virtually unused, with accessories (registration certificate, mailing tube, etc) continue to bring record prices, but the escalation is not as dramatic as it once was.

Triple Lock revolvers were flat from 10 years ago until Covid, and, at the time of Covid, they started to really increase in value, but not as dramatically as the Registered Magnum revolver did, and they generally are not worth as much as a Registered Magnum revolver in comparable condition.

Prices of Registered Magnums are driven by many variables. The very common 6-1/2” with a Call Gold Bead front sight in 99% condition in the box may only bring $7500, whereas a 95% condition RM with a 3-1/2” or 4” barrel and police provenance may easily sell for more. Do you want a REG MAG to shoot or as a collectible? Do you want a pristine example with all of the possible extras like box, certificate, mailing tube, SAT, and brochure, or are you more interested in one with documented provenance and in condition that can occasionally be fired? What you are going to pay for a REG MAG depends heavily on what your requirements are.

Very good information above. I will add that where you find it will also affect and dictate the price. Having recently been involved in a couple of online auctions, (not for Reg. Magnums or even S&W's for that matter) I got involved in bidding wars. The first one I finally let go after it reached a number that I thought too high even though I had already played ping pong with another bidder for several rounds.

The second one I did win but experienced the same last minute ping pong game that caused the price to increase about $300 over my initial bid. I would normally chalk that up to typical auction fever bidding but after going back and reviewing the bids I became a little suspicious. My competition was a NR bidder meaning that he/she had no other wins on GB or at least no feedback posted. Upon further investigation I noted that this bidder only joined GB 2 days ago and the auction had run at least a week. There remains the possibility that this was merely a shill bidder friendly with the seller and their bidding was merely an attempt to raise the price. I will never know but it just smells like 5 day old fish.

All of that said, my point is that the online auctions present extra elements that can affect price. Could be a shill or it could merely be another bidder caught up in the auction fever of "Oh no way you are taking my gun away for a mere $50 increase". Unfortunately this can happen multiple times once caught up in the fever and before you know it you have bid (as I did) $300 more than you initially wanted to.

So, because of the higher price that these special magnums seem to draw, you could be better served looking at all of the LGS in your area and /or placing a WTB ad here on the forum or watching here to see if someone places one for sale.

Typically in those cases you don't end up in a potentially escalating bidding war and can arrive at a reasonable price.

You could even post an WTB ad at your local gun club as you might find someone not tuned into the online price fever who is willing to sell at a decent profit to them while still presenting you with a deal.

These are merely my random thoughts on the subject, others may vary.......

Just 2 cents to add to the comments above. Yes, if you desire to own an RM you should try to add one sooner rather than later. IMO. But avoid shorter barrel versions with LE provenance. lol

Also, realize that when you bid at a live auction, when you bid on a Registered Magnum revolver, you are usually in the $5000+ range. In that range, the bid increment is usually $500. If the buyer’s premium is 20%, give or take, your effective bid over the competing bidder is essentially then $600 or so. Add in the sales tax, and your bidding increment might be effectively $650 or so. But that’s just your incremental increase over the competing bidder(s). They bid and you bid, back and forth, and each of your bids over the previous one of your bids isn’t just $650 or so, it’s double that! That’s a lot of money. So you have to bid strategically, and might have to try and let two bidders go at it before getting in your highest bid. And sometimes it’s stuck at your highest bid but to someone else and so you have to decide if one more bid is worth it or not.

This high bid increment does cause individuals to fold. At 5k, they might not decide to bid $500 more, as the bid increment prior to this usually is $250. Same with $10,000. Bid increments are usually $1000, so your bid increment over your previous one can be about $2400. That’s a lot of money!

Many who respond to this thread are the experts and I recommend you pay close attention to their advice. In my opinion, for an “entry” level Reg Mag, 6 1/2 “ barrel, no significant provenance, no box, certificate or papers, original finish, they seem to start at $5000.

But there are exceptions. I was recently able to acquire a Reg Mag comprehensively restored by Cylinder & Slide with Keith Brown walnut roper stocks for considerably less from a popular online auction.

Anyhow, listen to their advice and watch like a hawk, you may get positive results!

Here are some numbers from the sale of an RM, a couple of Triple Locks, (and a couple of close cousins) a .44 H.E. 2nd Target and a Model of 1926 Target. These sales occurred over the last 3+ years, after I decided it would be best to leave behind a pile of money rather than a pile of guns, and arranged to have my collection sold. The collection was sold both at auction (Gun Broker) for the more common items, and direct (one on one) for the more special stuff---these guns being among "the more special stuff".

Registered Magnum #643, 6 1/2" (common as dirt), essentially as new, wearing a pair of drop dead gorgeous Roper Thumb Rest grips (added after I bought it), no box, no nothing---don't remember what I paid for it, nor when--------$7500.

Triple Lock Target #3976, 7 1/2", high 90's condition, paid $5250 in 2000------$10,000.

King Super Target Triple Lock #10688, 6 1/2", as new condition, paid $9500 in 2016-17 (??)-------$8800.

.44 H.E. 2nd Target #58669, 6 1/2", as new condition with THE box, paid $5000 in 2011-------$5300.

Model of 1926 Target #54911, 6 1/2", as new condition, paid $7000 in 2002---------$7200.

Ralph Tremaine

The story of the 7 1/2" TLT is worth telling, if only to prove there IS a God! I'm on the hunt for a TLT. I figure I can get one for $5500. (This is in 2000.) Here's an auction catalog with two 6 1/2" TLT's----both super spiffy!! I know Jinks is on the Board of Directors for this auction house, so I call him---asked if he'd seen these guns. He had not, but had discussed them with the auction folks---the consensus being the best one was a refinished gun. I registered to bid on the other one.

The phone rings. It's a nice lady from the auction house, and it's time to saddle up! I tell her I won't be making any bids---to just tell me when it's time to buy the gun. I also ask her to tell me what the other gun brings. It goes for $3500, so I figure I can get this one for $5500----my target price. Here we go!! About two seconds later, she says, "He's at $7000, do you want to go $7500?" "Uh, No Ma'am---thank you---I'm out!"

I'm in a blue funk for a couple of months, and the phone rings again. "Ralph, this is (So and So), SWCA. I see in the Roster you collect targets." "Yes." "Do you have a Triple Lock?" "No." "Do you want one?" "Yes." "Ralph, we have one---it doesn't fit in our collection, and we want to sell it. Ralph, it's the best one we've ever seen!" "How much?" "$5500"----which became $5250 after I asked if $5500 was their best price. "Sold!" And my blue funk was over!

So, as you can see, there sure enough IS a God!!

You might find a common barrel length RM without box/etc. in the $5k range but might have a refinish, be well used, or have other issues at that price; and up from there. The last two I've actually handled and seen sell with box and most, maybe all, of the extras were $10k and $12k and both were, I think, 6.5 inch barrels. If I saw any barrel length with the complete package at less than $10k I would think it a bargain. Good luck.

Jeff
SWCA #1457

There was one at the Syracuse show last month, maybe 80% or so condition, 6 0r 6 1/2" barrel.
Seller wanted 17K.

I have collected a few LEO RMs/NRM's it the last few years. Provenance is important to me and something I am willing to pay for. A couple of thoughts: First is the question of finish. Some collectors of pre war magnums want the higher conditon gun in original finish. I have seen several guns that are in a category I call "restored"... oftn very well done (see above example). I use the restored category because the gun is just too nice. To some folks, restored is good for vintage utomobiles but undesireable for vintage firearms. I have nothing against resored firearms, I'm just urging caution.

Secondly, regarding refinish, 3 of my guns have factory refinish--2 of them in nickel. This was a comon practice for 'working' guns. After a dozen years of carry wear, 30-50 drunk arrests or whatever these workhorses needed a refinish and mechanical tune up. So, for working LEO iron I don't need to deduct much from the value for a factory refinish. But that is my boat.

Finally, when you walk gun shows, watch for mis marked guns (marked 27 or pre 27, etc) keeping your eyes peeled for the tell tale pre war hammer!

Finally, the best of luck to you on your search. RMs and NRMs are worth the effort in my book.

And for those of you who may not know what a "pre war hammer" looks like (and I had to think about it for a spell), the rear sight is an easier giveaway-------it's the " two screw" sight---perzactly the same as on any other pre-war K or N frame target-----from about 1932 on (not counting the 22/40 which carried the so-called "S&W Micrometer" sight).

Now, back to that hammer---especially for those of us who aren't wearing our reading glasses while we're prowling around gun shows or wherever. If/when you see an N frame with a "two screw" sight (AND a barrel rib), get out your glasses and have a look at the hammer---it has concentric circles on the sides. And if you left your glasses in the car, don't sweat the small stuff---that "two screw" sight and the barrel rib is all you need to grab your checkbook, and start writing! And if you left your checkbook AND your glasses in the car, just stand there and drool! As an alternative to drooling, pick up the gun, and don't put it down until your buddy gets back with BOTH your glasses AND your checkbook!!

The moral of this story is don't go gun shopping alone---like I did one time.

I'm at a show in Knoxville that's seldom worth the time and gas---usually takes me about 45 minutes to do 4-500 tables---without even slowing down---and NEVER stopping to pick anything up to look at it. I'm at the end of that 45 minutes and heading for home. All I have to do is stop by a friend's table, and pick up my briefcase (with my traveling library inside). I'm passing by a staircase, and there's a sign----"More Tables Upstairs".

Now this is August---and it's hotter than dammit----and the air conditioning in the hall is on the fritz----and it's going to be hotter upstairs than it is downstairs----and I've had enough!!

What the Hell! Up I go. There are 14 tables in a U shape around the landing. I stop right there, and survey the tables. There's a likely looking S&W something on the far table to the left. Over I go. Here's a flat mint I frame something target. The tag says "22/32----.32 Caliber---$450". Now there ain't no such thing, and this thing looks a whole lot like one of those pre-war/post-war .32 Regulation Police Targets-----1 of 196!! I already have one of these things, and I know all the serial numbers start off with --------something I can't remember!! I bought mine in 1959---direct from Herbie Harris (the S&W Distributor in Chicago who claimed credit for their creation)----for the princely sum of $135. We drove 600 miles out of our way (on our Honeymoon!!) to pick up this gun---my new bride's introduction to the lunatic fringe world of gun collectors! Now these $135 guns are selling for $2000 at the time, and my traveling library is downstairs under a friend's table---and I know which book this gun is in (History of SMITH & WESSON), and I know what page it's on (156), but I can't remember the serial number prefix---and there's no way in Hell I'm going to put this gun down for fear somebody whose brain isn't as addled as mine will GRAB it and run like a thief in the night!! What to do?!!!!

What to do is pay the man his $450, because no matter what this thing is, it's most certainly worth THAT!!! So I did! I handed him 5 $100 bills, and he said, "Oh, you want to buy this?" I was, oh so tempted to tell him, "No, I just need change for the phone.", but bit my tongue, and just nodded. Then I sauntered over to the stairs, and ran down just as fast as my little legs would carry me!! Arriving at my friend's table, I didn't say a word---just pointed at my briefcase. He said, "Looks like Ralph's got a goodie!" Then I grabbed the book, opened it up to page 156 and gave a BIG fist pump in VICTORY!!! Then he said, "Yep, Ralph's got a goodie!"

Then, having been collecting these target guns for a mere 30 years or so (target guns defined as "anything with target sights"), I came to my senses. My senses said most of these so-called target guns had no history nor a story to tell, and nobody in their right mind would take any of most of them to a match; and I sold damn near all of them---and started over collecting REAL target guns. Of course I fudged that quite a bit, having at least one each of all the N frame targets----never mind I'd never seen hardly any N frames at a match in my life! It's like I said, the lunatic fringe world of gun collectors!

Ralph Tremaine

Oh---yeah---that serial number prefix is 657. Those 196 guns run from 657174 to 657369. Now that I don't have any need to know that anymore, I can't forget it!

Much obliged for the info all. There's one I've my eye on - i actually find the 6.5" balances so well I don't mind how common it is - and the provenance seems decent, but the start seems high. For now I think I'll keep my eyes out for something very clean right at the 9-10k range - IF I see any!

BlackAgnes said:

There was one at the Syracuse show last month, maybe 80% or so condition, 6 0r 6 1/2" barrel.
Seller wanted 17K.

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This seller (^^^^^^) is an example of PURE unadulterated ignorance---or more likely PURE unadulterated avarice and greed!!! I wish him ill!!

Ralph Tremaine

A seller is entitled to ask whatever he/she wants in a "free" country. Not sure how much longer that might be. Luckily there are forums such as this where collectors or interested parties can seek help and information in order to make an educated purchase.

I'm guessing that the owner of the $17,000 registered magnum will continue to be its owner for many years to come.

It also may be that the owner of the Registered Magnum actually doesn’t want to sell it. Some folks get tables at gun show just to have a table there so that folks can come in the door and offer them a revolver they want to get rid of. Or to converse with other dealers at the opening of the show when they set up tables and before the general public gets in.

BlackAgnes said:

There was one at the Syracuse show last month, maybe 80% or so condition, 6 0r 6 1/2" barrel.
Seller wanted 17K.

Click to expand...

I saw that one too. He had it at the show there in the Spring as well.
The price then was not given as the Table Boy wasn't sure and the Boss was out and about. No tag on it then.
But Table Boy told be then it was 'Very Expensive,,More than 'You can Afford'
So that's why I wasn't allowed to even look at it.

This show it was tagged at $17K and lying buried beneath some other also less than pristine examples of the handgun world.

The rust on the muzzle of the bbl and the grips that didn't fit around the frame cuts I guess not a factor in overall value because it's a RM.

Probably just not a knowledgeable seller.
Reminds me of me a little bit.
Before I joined the Forum and the SWCA and the SWHF.
Had a RM, but did not know much.
Had a Blue Book that said RMs were worth between $7K and $20K Did not really want to sell it, but if someone asked I would say $20K or maybe $15K. This might be a similar situation.

One of the difficulties with the prices quoted in the books, many times they include the box, papers, tools, warranty card and in the case of the RM's the order card, mailing tube and certificate.

Many sellers see these figures and then take a plane Jane or finish compromised example without any additional items and place the highest price known to mankind for their gun.

The other negative with the advent of online auctions and auction houses is bidding fever. The old, "I'm not losing that gun for $100" (not a lot when you are bidding in the $5,000-$10,000 range. When hit by the fever one can repeat that process several levels and before you know it the price has increased $3,000.

Future sellers can take these artificially inflated numbers and assume that it is the going market price when in fact it could be a one time fluke. I always like to look at several sales and average them to come up with something more realistic.

I rescued a 6 1/2" RM 4629 from 1939 about 15 years ago from a LGS.
Missing it's original Magna grips [lettered] no box no docs; shipped to a Pittsburgh Hardware wholesaler.

Replaced the grips with a set of Grasshorn no-bark Magna stag grips with a one of a kind stag T-grip. While not what it shipped with but "Period Correct"; thou Ivory would have been better.

Granddaddy's gun on consignment [wife said "get it out of the house we're having a baby"]........ looks to never been fired outside the factory!

Providence? Shop wouldn't give me the guys name or number. Lots of "Robber Barons" in the Pittsburgh area in the 1930s..Steel was still king!.... who could have bought a $62 gun and put it in his sock drawer!

Not a complete package but certainly not a "shooter"!!!!!

Value?????

Input, thoughts welcome!

As an aside I also have my Dad's 1938/39 6" Colt New Service in .357 Magnum that he sent out to King's in Calf for adj sights and action job.... his primary duty gun from 1939- about 1970. He also used it to shoot "Master" on the Dept's Pistol Team. Told me final cost was between $50-55 w/ the King work and shipping.