Restoration versus Original Finish Value ?

[walkinghorse]

I am posting this in this section even though it is not a S & W I am using for an example, sorry? I really enjoy reading the discourse between the posters here regarding pre-1945 revolvers, including dollar estimates of value, and why, and the amazing amount of knowledge that comes out.

While purusing the Cabelas Gun Library sale listings I note that the following two single action colts listed out of many more.

The first is a US Army marked revolver but the term SAA restored is used in the description.
The price is reduced from $27,499.00 to $16,999.00
http://www.cabelas.com/cabelas/en/content/community/gun...sp?hierarchyId=11651

The second is an original Bisley and the condition is noted as moderate wear, but retains the majority of the original condition including casehardening, and the price is $5,499.00
http://www.cabelas.com/cabelas/en/content/community/gun.../628175_bisley08.jsp

Is the rarity of one even though it is restored,??? what was restored does not appear to noted, versus the, retains much of the original finish, enough to offset the disparity in listed prices?

From what I have read here, rarity is a big factor, and refinishing is a big no in collecting firearms, so that is why I am asking is this an aberrition in the market, incorrect pricing, or what?

Thanks !

 

[walkinghorse]

I am posting this in this section even though it is not a S & W I am using for an example, sorry? I really enjoy reading the discourse between the posters here regarding pre-1945 revolvers, including dollar estimates of value, and why, and the amazing amount of knowledge that comes out.

While purusing the Cabelas Gun Library sale listings I note that the following two single action colts listed out of many more.

The first is a US Army marked revolver but the term SAA restored is used in the description.
The price is reduced from $27,499.00 to $16,999.00
http://www.cabelas.com/cabelas/en/content/community/gun...sp?hierarchyId=11651

The second is an original Bisley and the condition is noted as moderate wear, but retains the majority of the original condition including casehardening, and the price is $5,499.00
http://www.cabelas.com/cabelas/en/content/community/gun.../628175_bisley08.jsp

Is the rarity of one even though it is restored,??? what was restored does not appear to noted, versus the, retains much of the original finish, enough to offset the disparity in listed prices?

From what I have read here, rarity is a big factor, and refinishing is a big no in collecting firearms, so that is why I am asking is this an aberrition in the market, incorrect pricing, or what?

Thanks !

 

[Art Doc]

Collectors want original condition. Refinishing a truly collectable gun halves the value or more.

 

[deadin]

I would guess the 27K price was before thay decided it was a refinish, the 16K after.

IIRC, a US Army marked SAA is actually scarcer than a Schofield and has a bigger cache to the greater collector field, hence the high price.

The Bisley's never did, and still don't have the collector interest of the SAA's.

 

[dpsix]

Martially marked SAA's, both Cavalry and Cavalry reworked into Artillery Models, if in fine original condition can command HIGH prices. Restored guns changes that price equation. The gun pictured in the Cabelas add, if restored, probably has had the full treatment, polishing, restamping, blueing, color case hardening, new grips with cartouche. High quality restoration makes for a beautiful gun and is not inexpensive to have done. I would quess someone like Turnbull would charge upward of $3000 to do the work. But then the gun is no longer a work of art made by Colt craftsmen in the 1870's but restored art made by Doug Turnbull in 2007. I think the gun you referenced it is way overpriced.

 

[cgt4570]

The Bisley seems very high, too. Cabela's often lists guns with astronomical prices, only to cut the price in half later on. (now half that price would be a good deal)
I guess they try to find a sucker, and when that doesn't work, they decide to get realistic.
Just my opinion. I've bought a couple from them and was happy with the price and condition. You just have to know what you're buying. They often claim ignorance about certain models or specifics. You would think that someone running a store's 'gun library' would be a gun guy. They probably know and care more about the newer stuff.
Chris

 

[BRush]

I agree about Cabela's and the Bisley. Cabela's makes you inquire about the condition, SN, etc because their posts are so spartan. The Bisley is not in a desirable cal. or configuration - although it may be in pretty high condition. Closer to a $3.5k gun I think.

The JTC could be a tragic case. Cleveland and Draper jointly inspected just north of 2000 SAA's during 1876-77. Much fewer than Ainsworth (just under 15k) or Nettleton (about 4k) Many of these Cavalrys included a frame stamped by one these subinspectors and a barrel, BS, TG and/or cylinder by the other. Because of this, and because most of the JTC/LD inspected Cavalrys where called for refurbishment and where reissued as 5 1/2" bl Artillery models with mixed SN's, It is very hard to find an all JTC inspected gun in orginal Cavalry configuration in any condition. Right now such a gun with strong original markings, fairly crisp metal and only traces of case color and blue in protected areas would easily be a $10K+ gun. Probably more. Any price for an all original JTC Cavalry in the condition of the Cabela's gun would not shock - I'm not sure one exists.

The problem with the refinish here is that given the skill of current restoration specialists, a collector can never be sure that parts bagan life as JTC inspected parts. Even the originality of the frame may be suspect. As a result, if this was an original all JTC inspected Cavalry to begin with the owner may have taken a $10k gun, spent $3k and ended with a $4.5k to $5.0k gun. For antique Colt SAA's at least, restoration is rarely a good idea.

Just my observation. A gun of course is worth what someone is willing to pay for it.