GunAuction Pre 29 Nickel.. Is this really where the number should be?

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bigl1911 said:
I am not one to say another paid too much for a gun if they want it. However, my curiosity is burning. Is this a real number today for this gun? Congrats to the new owner..

They bought a suitcase?????:confused:
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I know a collector who primarily fancies Colt's, and he loves to say find another one in these type of situations, which I do think applies here. Value can be debated I suppose, but a complete specimen like that with the letter is certainly few and far between...and that is of course not a debatable topic...

When guns come up this hard to find which are also in demand, placing a narrow value range can be a nearly impossible task esp. when most people auction off their best guns.

Certainly the 5 screw specimen selling for $14k itself (a better gun) could mean that this 4 screw gun went really high, or it could alternatively mean that the 5 screw nickel 44 mag went on the lower side. Much of this is opinion, and I for one am thankful that it is not just these Colt snake guns that people pay big money for. I mean come on, what would you rather have, that 44 mag or a Colt Boa? Its an easy choice for me...;)
 
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Göring's S&W said:
I know a collector who primarily fancies Colt's, and he loves to say find another one in these type of situations, which I do think applies here. Value can be debated I suppose, but a complete specimen like that with the letter is certainly few and far between...and that is of course not a debatable topic...

When guns come up this hard to find which are also in demand, placing a narrow value range can be a nearly impossible task esp. when most people auction off their best guns.

Certainly the 5 screw specimen selling for $14k itself (a better gun) could mean that this 4 screw gun went really high, or it could alternatively mean that the 5 screw nickel 44 mag went on the lower side. Much of this is opinion, and I for one am thankful that it is not just these Colt snake guns that people pay big money for. I mean come on, what would you rather have, that 44 mag or a Colt Boa? Its an easy choice for me...;)
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Nothing wrong with a Python but in this case a 44 nickel is a much more uncommon revolver that a run of the mill Python. If I remember correctly a Nickel Pre 29 is about 1 out of every 10 blue guns… Two people really wanted this one and good for them no judgement over here. Just wondering has the market hit 13K for a nickel 4 screw in great condition? I suppose where I am with this - there are a lot of options at 13k and just slightly up. I am answering my own question here.. If a Pre 29 in mint condition hits 6k to 8k then perhaps a Nickel is a 9K to 10k gun today retail. At open bid and gatta have factor 30% up from market and there is the number.. I think the Beerman bought early and made the smart move for no other reason than he has the gun now and give it a few years the buy number will be a bargain. Am I correct?
 
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For perspective...I bought the same package (different 44) that just sold on gunauction in 2001 for $2000. A photo of the revolver is shown below (click on the photo for a better look).

Bill

doc44-albums-44-magnums-picture176-s168922-july-1957-a.jpg
 
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Two people really wanted this one and good for them no judgement over here. Just wondering has the market hit 13K for a nickel 4 screw in great condition? I suppose where I am with this - there are a lot of options at 13k and just slightly up. I am answering my own question here.. If a Pre 29 in mint condition hits 6k to 8k then perhaps a Nickel is a 9K to 10k gun today retail. At open bid and gatta have factor 30% up from market and there is the number.. I think the Beerman bought early and made the smart move for no other reason than he has the gun now and give it a few years the buy number will be a bargain. Am I correct?
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That's a tricky question and there are many factors to consider here. Aside from the rarity, condition, and demand of the gun, and the auction setting itself, the following and skill of the seller is a factor here. Jack The Dog aka Mark almost always gets more than the rest of us could, and for good reason. He does this for a living: consigning guns. I personally have dealt with the man, and I was happy with the results. He is very good at what he does, and if he doesn't know something about a gun, he knows where to find the correct answer. He takes 15% which includes the cut for the website - very fair when you consider he often gets at least 20% more for the same guns than the rest of us. Sometimes of course, a much higher percentage.
 
A factor that may or may not have been considered. The estimated production of 4-screw nickel 44 Magnums with a 6 1/2-inch barrel is less than 1000, less than 500 with a 4-inch barrel. Less than twenty with a 5-inch barrel.

Currently, there are six lettered 44 Magnums with a 5-screw frame and nickel finish (five have a 6 1/2-inch barrel, one has a 4-inch barrel) and one 4-inch that has not been lettered, but is most likely correct.

Bill
 
Doc44 said:
Two bidders really wanted that 44 Magnum...net result is a sky high price. I would have thought $7500 would have been a decent price for this revolver. Seems as though nickel 4 and 5 screw 44 Magnums have really come into their own.

Bill
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Same buyer won auction recently on a Model 29 no dash similar condition at about 7K.. I figure the Pre 29 4 screw would be about the same..

SMITH & WESSON ~ MODEL 29 (NO DASH) 4-SCREW 6-1/2, FACTORY NICKEL, COKES, Shipped Alaska 1961 For Sale at GunAuction.com - 13622245
 
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Since the box is pebble grain and not smooth, I would think it is not original to this gun. I sold my pre-M29 4-screw nickel, in about the same condition, two years ago for a little less than 1/2 that price. I had read a guesstimate of a production of about 700 6 1/2" Nickel guns. How many were "pre" model marked guns I don't have a clue.
 
That price doesn't phase me one bit. I own a lot of pre-29s(4 and 5 screw), and 29s but I have never had a nickel one in my hands. Doc44 points out there can't be many such pre-29 4-screws in existence. If that gun is righteous I think the price is OK.

Price boils down to how bad you WANT!

Minor quibble on the letter. Faribault is in Minnesota, not WI, hence the GOPHER shooting supply.
 
Collectable Smith firearms as a general statement have been behind on retail cost apples for apples comparing to Colts where uncommon and rare apply. I've been collecting for over three years. I think my collection for the most part has interesting examples (to me at least) and I am lucky to have hunted down a few very fine rare and uncommon firearms. Some people have called me deep pockets crazy and have commented I spend at times too much and should have slowed down. In the end, most of those people have come back and said, "Wow you made the right move look at today's numbers". Maybe...
The turn around is most if not all of my guns are worth today much more than what I paid for them even one year ago; and even one month ago! I am not sure if 13k is above reason for this Pre 29 nickel. For two people yesterday is isn't. Even at 6K to 8k which is where I think it would have been a good buy and still a lot of cash in comparison to even one year ago it is still more than what this gun or other similar condition and rare examples of other Smiths were going for one year ago. I give one example of why we do these stupid things. I bought a nickel RM with a Cert as far as I know the only example with a box and all the stuff. A good friend and SWCA member did me at favor when I first started and sold me the gun. It was very expensive 2 1/2 years ago. My friend kicks himself every time I mention the gun. Out of courtesy if I ever sell the gun it goes back to him; however my point is the gun is easily worth 50% to double what I paid in today's market if I put it out there. Is this example the nickel Pre 29 one of those guns you buy at any cost today or cry the blues later when it is gone? I'm not sure but if Bill is right and there were 1000 made and 50% are at the bottom of a lake the other are in various condition with fine examples maybe 50 to 100 guns? I also think Bill's point was 2k when he bought his years about and the guns are only going up in value when they are fine and many even when they are not if rare and uncommon.

I recently bought a complete boxed Model 1950 44 Special 4" from Mark and his old and long gone dog Jack.
SMITH & WESSON ~ .44 MILITARY MODEL OF 1950 'PRE-MODEL 21' 4-Inch...RARE... w/ Letter, Mfd 1955 For Sale at GunAuction.com - 13621833
did I overpay at 6K.. Very rare high condition estimate 400 made…
I recently purchased another not as great shape but I was at the right place and it was priced right 1500 based on condition..
http://smith-wessonforum.com/s-w-ha...i-gun-show-find-model-1950-pre-21-4-44-a.html
Did I buy right?
I think Beerman (if you are reading this didn't intend to focus on you) is closing in on his 29 collection and he would pay what he needed and the runner up felt the number was just too much juice but he hit 13K. I appreciate and understand this way of thinking. Even if the gun is not that rare it is highly desirable and value for an overspent item equals out over the collection is my thought. My question did the buyer buy earlier and will the gun find 13 as a retail number?
 
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