Third Model Perfected Single Shot Pistols: Recent Auction Results/Trends

M

mrcvs

Member
Joined
Mar 26, 2011
Messages
3,767
Reaction score
7,609
I don't know if this falls into the "What's in the Kool-Aid over at Rock Island Auction?" or if this is more of a recent trend? I would think the former, but I don't know...

Once again, all bids placed at RIA were unsuccessful. I do it more to see if I can actually get anything at a decent price than anything else. I decided to focus on Third Model Single Shot Perfected pistols this time. All were from the collection of a late SWCA member, Ernie Rice. Given the results achieved at RIA today for these alone (although I think his estate had 14 Smith & Wesson revolvers from his collection offered for sale today), congratulations to his family members!

Nonetheless, I will present the three of this model from his collection today offered for sale, as well as links to two I have purchased within the last year and a half.

The first one sold today brought $1800. Yes, it's very nice, and worth that, except you have to count on adding in a commission of 17.5% which pushes the price tag to $2115. Add in sales tax and shipping (I've heard that shipping from RIA can often be a nasty surprise!), and you are well over $2300, unless you are lucky to live in a state with sales tax. Worth it, or not? I want to say that this is really pushing the upper limits... Then again, it's nearly pristine.

Smith & Wesson Third Model Perfected Target Single Shot Pistol | Rock Island Auction

Pre-auction estimate was $1400 to $2250, higher than that of the other two offered, although this one didn't seem particularly better than the other two to warrant that.

The next one offered today is this one:

Smith & Wesson Third Model Perfected Target Single Shot Pistol | Rock Island Auction

Pre-auction estimate of $1200 to $1800. Not sure what made this one so much nicer than the previous one offered, but it hammered at $3000. Add in seller's premium and you are at $3525. Then there's sales tax and shipping. Sales tax for me would be over $200. By the time it's shipped to my FFL, you are well over $3800. Yikes!

The third one from this collection:

Smith & Wesson Third Model Perfected Target Single Shot Pistol | Rock Island Auction

Pre-auction estimate $1300 to $1900. Hammered at $3,000. Same analysis as the second one...

I will present two I recently purchased.

Smith & Wesson Third Model Perfected Single Shot Target Pistol

This one looks almost pristine, much better than in the photograph. Knurled trigger does not letter as such and is likely an after market modification. My cost was $1610, including buyer's premium, and when you add in the $55 shipping and $15 FFL fee, I am into this one for $1680. Purchased March 2021.

And this one, purchased this past March:

Smith & Wesson Third Model Perfected Single Shot Target Pistol

$1500 bid equals $1725, add in $63 shipping and $15 FFL, you are at $1803. And I really thought I spent $100 too much on this one and should have folded at the $1400 bid offered to the competing bidder!

Maybe there is an increased interest in these, maybe not, and Ernie Rice did have about the finest ones out there, but these astronomical prices keeps one scratching their head.

These were the only ones I followed today such that I know what they hammered at, I suppose one could do the same for many other makes and models offered for auction at RIA the past few days.

Comments? Critiques? Observations?
 
Register to hide this ad
westernswede said:
I think their buyer premium is 25% then the handling fees after that.
Click to expand...

Oh, really? Then the damage is even worse than I suspected.

At 25%, when you add in sales tax and shipping on the 3k ones, it will cost over 4k for most once you add in the sales tax, FFL fees, and shipping and handling.

For this particular model, I don’t see how one can justify that much for it and, as neat of a model that it is, it will be a VERY long time before you can get out of it what you have invested in it, I should think.
 
I should also have said—on a more positive note—that the thing I really like about RIA is getting blown out of the water so fiercely I need not wonder if I just should have gone one bid higher to win a firearm, like with other auction houses. I get blown away so significantly that I don’t ever have to worry about even being the runner-up bidder at RIA. :)
 
I figured you were in it for the enjoyment, not for a buck. I glance at the results for the S&W stuff. Most of the buyers are in house, that saves them 25%. They have an advantage over the internet bidders. I was the under bidder on one offered today. I figure an all in price including all fees and I stop at that. There will always be something else pop up to catch your eye.
 
westernswede said:
I think their buyer premium is 25% then the handling fees after that.
Click to expand...

RIA's Buyer's Premiun is 17.5 % according to the Terms & Conditions noted in their web site.

The typically high prices realized in their "Premier" auctions can be attributed to the fact they sell only their very best consignments at these auctions. Lesser quality merchandise may be acquired from their regional auctions.

As an aside, and to state the obvious, the very best quality merchandise makes for intense competition among bidders----and more than a few among them couldn't care less about the cost------only the quality.

I don't know who said it, but some wise soul once advised those with an aversion to heat to stay out of the kitchen.

Ralph Tremaine
 
Last edited:
The pre model 29's brought strong money. The model 27-2's brought very strong money. And the custom 39's never fail at bringing top dollar.
 
rct269 said:
RIA's Buyer's Premiun is 17.5 %.

The typically high prices realized in their "Premier" auctions can be attributed to the fact they sell only their very best consignments at these auctions. Lesser quality merchandise may be acquired from their regional auctions.

As an aside, and to state the obvious, the very best quality merchandise makes for intense competition among bidders----and more than a few among them couldn't care less about the cost------only the quality.

I don't know who said it, but some wise soul once advised those with an aversion to heat to stay out of the kitchen.

Ralph Tremaine
Click to expand...

Didn’t Harry Truman say that?

I feel like it’s got to be this particular auction venue as compared to others. I can come away with some very nice stuff from competitors or, at least when I am underdog, it usually isn’t by much, which means I’m placing at least somewhat competitive bids, at least elsewhere.

Granted, the SCSW4 is now 6 years old, but a Third Model Perfected Single Shot Pistol is priced, “as new” at $2000. Excellent + at $1600, Excellent at $1200…

My purchases discussed in Post #1 in this thread suggest that the values given in SCSW4 are at least “in the ballpark” as to what this particular model still sells for—other than at RIA.
 
It's been so long since I looked into Proxibid, and decided it was a sucker bet, that I've forgotten just what it is that you get for your money. Perhaps someone can enlighten me.

I bid by phone. I say I bid, I tell the nice lady I won't be making any bids---to just tell me when it's time to buy the gun----and then I buy it---or not. I remember one crushing defeat---a Triple Lock Target I was quite certain I could buy for $5500. The lady came back a few seconds later, and said, "He's at $7000, do you want to go $7500?" I'm trying to do 3rd grade arithmetic in my head------7500 times 1.15 is-------too much! "No---thank you Ma'am, I'm out."

AGONY---DESPAIR----I'm in a blue funk for months!! Then the phone rang. "Ralph, this is So & So---SWCA". I see in the Roster you collect target." "Yes." "Do you have a Triple Lock?" "No." "Do you want a Triple Lock?" "Yes." "Ralph, we have one, and 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?" "$5250."

It was the best one I'd ever seen too. That was a little over 20 years ago.

Coincidentally, it was the last gun sold from my collection, just a few months ago ($10,000).

Someone once said, "All things come to he who waits."

Ralph Tremaine
 
Last edited:
Prices are not calculable. Runaway inflation is the norm. Many folks have lost hundreds of thousands in the stock market and are looking to invest in hard assets as the market worsens. While your facts are reasonable today, investors are looking at tomorrows prices when buying. It's a new world out there.
 
I'm wondering just how long the rising prices will hold on the pre-war guns. The younger crowd don't seem inclined toward them, and the more senior of us are gradually getting out of the market. Currently there is that layer in the middle that seems to want them, but for how much longer? None of them have plastic or tacticool attachments.

I'm glad I have been gradually getting out and have just the ones I like to shoot left.
 
H Richard said:
I'm wondering just how long the rising prices will hold on the pre-war guns. The younger crowd don't seem inclined toward them, and the more senior of us are gradually getting out of the market. Currently there is that layer in the middle that seems to want them, but for how much longer? None of them have plastic or tacticool attachments.

I'm glad I have been gradually getting out and have just the ones I like to shoot left.
Click to expand...

I thought that prices on the older stuff was declining for good, until Covid hit and the valuation of everything spiked upwards.
 
With the dollar being worth less than it ever has it seems to me there is no surprise everything is doubling in price from a gallon of gas to a firearm at an auction house.

One must decide - is it time to sell? Or time to hold? It's certainly a poor time to convert pesos to firearms.
 
You must log in or register to reply here.

Similar threads

M
1920 Gold Medalist James Snook’s Model of 1891 Second Model Pistol
Replies
3
Views
710
ol777gunnerz
ol777gunnerz
Flygas
Auction fees
2 3
Replies
58
Views
3K
glowe
glowe
T
Third Model Perfected Single Shot .22
2
Replies
23
Views
2K
rct269
R
444 Magnum
Fourth model straight line target
2
Replies
20
Views
769
444 Magnum
444 Magnum
M
Registered Magnum revolvers: Current prices & trends
Replies
11
Views
2K
younggun22
Y

Latest posts

Back
Top