Regardless of the increased value over the past 50 or so years, when calculated with the inflation rates factored in over that same time frame, it is not all sunshine and flowers.
All my life, when collecting, I consider ... how many have I seen in this condition ? How many were manufactured ? How desirable is this model I'm looking at. Then I think value as an investment. Will it maintain or steadily increase in value, at least, to keep up with the inflation ratio ?
If you can buy a fine quality piece of old world craftsmanship and art at a certain price, enjoy it for 20 years then sell at your cost + the calculated inflation over that same time period, you're doing great.
It should be for passion and love of these fine old S&W's that motivates a purchase. If profit is your main objective, buy savings bonds ... you'll come out ahead in the long run by keep rolling those bonds at maturity.
There is a present glut of mediocre to low quality antiques and collectibles ... a trend that will continue, I feel. The garbage will always be garbage.
The reason ?? All the boomers that grew up on the Lone Ranger and the 100 other cowboy flicks and detective / police serials, including the Dirty Harry movies, are dropping off.
The new generation of gun deprived children in a politically incorrect society that cannot buy their children toy guns but can buy violent killer or human hunting situation video games and war games is rampant.
Plastic is what is desirable by the younger generation. To me, plastic = disposable. I do not believe a plastic gun (even injection mold / catalyzed plastics) will last 50 years without slowly disintegrating. My Snap-On dead blow hammers, and other tools with, less than 40 years old, crumble to dust in the tool box without damage and with proper storage. Granted, the guns are made with different composition but think about it.
Steel, Stainless Steel, Titanium, scandium and other alloys will be around a very long time. Longer than plastic, I feel. But, that's just my opinion because of my love of old world craftsmanship and a Metal lover.
The higher quality guns will hold their value and I believe will continue to rise with certain considerations.
Some of those considerations are as follows:
>> the quantity produced. Naturally, a lesser produced firearm will always be worth more than a mass produced model of similar configuration and features.
>> The finer the condition the more desirable it will be. Add an original box to that and you've got gun-gold !
>> For S&Ws, I feel, all the Models 1-1-1 through 1-1-6 will hold value simply because of scarcity and first revolver of the new S&W Company. (The Volanics were the first Smith & Wesson partnership, to the, New Haven Arms (sold to Oliver Winchester).
>> The Models 1+1/2s through Model 2 (unless military issue) were produced in the 100,000s. Chose the best quality you can find, forget the junkers.
>> 1896s and 1891s, all good. The finer the scarcer, the better.
>> The Model 3s, which are highly desirable will hold value and continue to rise but only in upper conditions. Even a Model 3 that is mechanically excellent but has less finish remaining is very desirable gun. The price will not break the new collector and he can cowboy shoot it (after thoroughly examined and serviced).
The S&Ws were "the" first large caliber cartridge revolvers. 3 years before the 1873 Colt ... and ... had Rollin White been able to retain the patent, you would not have seen a Colt cartridge firing revolver until the late 1890s. Talk about injustices ... President Grant did not allow Rollin White to retain the patent because of issues and problems ordering cartridge firearms during the Civil War.
>>> 1899 M&P and subsequent revision M&Ps. The largest quantity revolver ever produced by S&W in excess of 4 million in all variations 1899 to present, IIRC, (could be more). Choose the finest and more scarce models. Even the lesser condition M&Ps still seem to have life remaining.
>>> VICTORIES and post war Transitions. At one time $50 all you want. Now with deeper research of types and to who issued, another collectors' plus. Very few will be cost big dollars but all have history in World War II, the war that was inevitable where the USA came from behind to be victorious. Thus the name VICTORY.
>> The oddities, e.g. The ladysmiths and Revolving Rifles (which were both essentially failures). The Ladysmiths were too dainty and easily damaged. Then the RRs looked good during engineering but then just didn't work out as well as thought. Holding the front fore-grip the shooter would get sprays of burning powder on his hand. Then they were awkward. Why would you want a RR when you could have a Winchester in .44-40 and a New Model 3 Frontier stuffed in your sash or gun belt. A rifle and a revolver that take the same ammo. Great idea.
>>>> The "N" frame,, pre-war, hand ejectors <<<<
>> Triple locks >>> JUST NOT ENOUGH to go around !
>> 2nd & 3rd Models .44 / .45 HEs>> all nice. Some scarcer than others.
>> Odd calibers on large framed revolvers. Always a plus. (NM3 and HEs)
>> Scarce barrel lengths and sight configurations. Excellent. (NM3 and HEs)
>> REGISTERED MAGNUMS ... do you really need to think about this one ?
>>> U.S. Military Firearms should remain in demand. Some more than others. >>
>> Pre-29, 44 magnums and all other 5 screw N frames. Truly the best here. Some more desirable than others but all great guns.
>> 41 Magnums ... a sleeper. Keep your eye on them.
>> Special Orders (depending on what and, at times, for whom).
>> All the Masterpieces ... it seems only rarely one will need repairs. Great guns, some early post war and pre-war more desirable. .32 Long scarce.
>> The J-Frames, here's a clique of hard-core collectors. Reasonably priced to higher priced scare productions. All you want, just look.
>> Stainless Steel S&Ws have been gaining popularity in epidemic proportions the past 20 years. Scare models and Performance Centers a plus.
>> S&W 39 series, including 2nd and 3rd generation. Still going strong.
>> MODEL 41 and 46, the older the finer the scarcer the better. Hold value well.
>> MODEL 52s, historically have always held value except about 10 years ago took a momentary dip in popularity then rebounded right back.
>> IT JUST GOES ON AND ON
Also, for many decages, factory refurbished S&Ws were frowned upon by serious collectors but in this cosmetically perfect world we live in have accelerated in value like I never thought possible. I never turned down a Factory S&W refurbished revolver if the price was right and the gun was gorgeous.
I'm tired now ... you guys continue, please.
Collecting antique S&Ws is far from over, just choose wisely and choose the best condition you can find.
Best regards, Sal
