COLT GCNM 1911 - USED (for sale) PRICE BLEW MY MIND!

[chief38]

I went shooting last Friday and I always take a gander in the used gun display cases at our local gun shop & range. They usually have a nice selection and so far every gun I have seen in there has been in excellent condition. So far my shooting Bud's have purchased 3 of them - all excellent and at reasonable prices.

I spied a beautiful Colt GCNM 1911 (45acp) in like new condition, no box or papers. I asked to see it and after examining it, it appeared as good on the inside as it did on the outside - pristine. The trigger was a typical sweet, light and crisp GC trigger. It was made in the mid 1970's but when I looked at the tag it was marked $2,500 bucks! I have the identical gun made in the same time period and although it is my all time favorite range gun I never realized the mid 70's Gold Cup NM commanded that sort of price - used! So the guy behind the counter said even at the $2,500 marked price he did not expect it to last very long and there was no wiggle room. One of my friends was looking for that exact gun and thought I'd inquire for him. Don't get me wrong, I think the world of the Colt 1911 GCNM from that particular era and would highly recommend it, but since a brand new Colt GC runs about $1,300 I was blown away at this price! The salesman also said they have sold similar Gold Cups from that vintage era in lesser condition for just slightly less.

Well....... I suppose it's nice to know that when my shooting career comes to an end (hopefully many years away) at least I have a few that will command some nice bucks!

 

[ACORN]

I was at a pawn shop recently and saw a used Kel Tec P3AT .380 tagged for $425.!!!

 

[Greyman50]

Barnum said it best….

 

[arjay]

Wow! I have a mint one from the same era.I wonder what a similar GM or cc goes for now? (Might be profit taking time)

 

[Beemerguy53]

I’m amazed at some of the prices I see for older firearms. The only thing I can figure is that there’s a lot of folks who are willing to pay a premium for those because “they don’t make ‘em like they used to“. I can see that in the case of older S&W revolvers, but not the Gold Cup.

Different strokes for different folks, I guess…

 

[Ameshawki]

Gold Cup prices are all over the place. The earlier guns get quite a premium.

 

[chief38]

Gold Cup prices are all over the place. The earlier guns get quite a premium.

They sure do! The guy in the LGS asked to see mine as I had it with me that day. He looked at it and said "you shouldn't shoot it anymore - it will lose value being it is in excellent condition". I told him this particular Colt GC has over 35K rounds through it - I don't think he believed me. I also said this has been my serious target, competition gun since I bought it - many decades ago and enjoy shooting it more than any gun I own! I would not even think of not shooting it!

It's nice that some guns increase in value - but after all, it's a gun and meant to be shot!

 

[Ingramite]

Everything is crazy expensive now.
I can remember getting a full size candy bar from a machine for a nickel.

We took a little road trip a few weekends ago and found ourselves poking around an "Antique Store". Funny thing was, the place was chock full of stuff from our childhood.

It sure didn't used to be like this!

 

[chief38]

You mean Bazooka Bubble Gum isn't a penny any more?

 

[glenwolde]

They sure do! The guy in the LGS asked to see mine as I had it with me that day. He looked at it and said "you shouldn't shoot it anymore - it will lose value being it is in excellent condition". I told him this particular Colt GC has over 35K rounds through it - I don't think he believed me. I also said this has been my serious target, competition gun since I bought it - many decades ago and enjoy shooting it more than any gun I own! I would not even think of not shooting it!

It's nice that some guns increase in value - but after all, it's a gun and meant to be shot!

That's a little crazy. What are you supposed to shoot if you mothball your GC? It would just cost you more than $1,000 buying a replacement that wouldn't be as nice.

 

[murphydog]

I don’t look at Colt prices much but that value sounds totally unhinged, to the point that I wonder if the sales guy was hyping up his impression of recent sales to try to sell this one.

 

[Rule3]

Those Colts are nice but not that nice, It's all in the name and the hype. I'll put my Dan Wesson up against it or pretty much any 1911.

 

[arjay]

It’s those highly polished,blued flats I’d say.No one does that anymore,along with a nice trigger and the collet bushing…

 

[LostintheOzone]

I don't keep up with used prices on GC's but I'd buy it for 2K if I were in the market. I'm not however because I have a GC Trophy I shoot the snot out of. I think I paid about 1K for it new about 20 years ago.

The problem is Colt still makes GC's.

I hope the person who buys it enjoys it.

 

[Vtgw938]

Carried a Gold Cup for duty use while working part-time for the sheriff's department in the late 70's. At the time I think it retailed for $256 and I paid cost. Shot great, pin in the rear sight keep drifting out and rusted at the drop of a hat.

 

[CH4]

I don’t look at Colt prices much but that value sounds totally unhinged, to the point that I wonder if the sales guy was hyping up his impression of recent sales to try to sell this one.

I agree.

For the past few years, I've seen 'em running around $1800 to $2000 for Series 70, a little less for 83+ Series 80.

 

[LVSteve]

I visited a few stores and pawn shops while in Texas recently, and all of them seemed very proud of their wares judging by the prices.

 

[alwslate]

People are free to ask any price they want. They are trolling for big fish.

 

[Dvus]

$2500 for a 70 series GCNM with box and papers in excellent condition? Sounds about right around here. They will get it with no problems. If you want the premium package, you gotta pony up, 'cuz they ain't makin' 'em anymore. Sure, you can buy a new one for much less, but it's not the same thing. Those who understand that are the ones forking out the dough. It's not about it being a great shooter, it's about how hard it is to find one in that condition, and how much harder it will be as time moves on.

Edit: Sorry, reread the post and noticed that the OP said that it "Did not" come with box and papers. That changes things drastically. Still would sell for over $1800 around here, but nowhere around the asking price.

 

[chief38]

I don’t look at Colt prices much but that value sounds totally unhinged, to the point that I wonder if the sales guy was hyping up his impression of recent sales to try to sell this one.

He would not negotiate and he says they have gotten similar prices in the past for that model. What can I say? They sell quite a bit of stuff so I have to take his word.