New King Cobra Purchase
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    Question New King Cobra Purchase

    I had a weak moment this past weekend and purchased a King Cobra, and am concerned that I may have paid too much (buyers remorse?). It is 4" Stainless, all original in almost perfect condition, no box or papers. I am at least the 3rd owner and the previous owner never fired it, but wasn't sure of the earlier history. There are very faint "burn rings" on the front of the cylinder but otherwise appears as if it was never fired. A serial # search on the Colt website suggests that it was manufactured in 1996. At this point my questions are: What is the approximate current value?, Any thoughts on expected future value?, If I proceed to use and enjoy but keep it in excellent used condition what does this do to the value? Thoughts and comments are appreciated.
    Last edited by Speedster; 10-09-2013 at 02:26 PM.

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    You have approximately a $1100-$1200 Firearm. Keeping it well preserved although firing it, in a year it will be worth $1200-$1300. 5 years from now, $1800.

    These are real world internet prices. In light of recent confusion between local gun shops and Gunbroker pricing I thought I would point that out.

    Marc
    Igor, Speedster and nicsco like this.

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    I think the colt KC is way over priced. but current market value seems to be in the $1100-$1500 range. a year from now who knows?

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    speedster....if you don't mind me asking, if you think you over paid what was you purchase price. Or around about if you don't want to say. I am looking at a 4 inch from 87 with original box in stainless at 1200. I will try to get it lower.....

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    Ping10, I paid $1,000. It appears that it's probably worth what I paid, but it still seems like a lot when compared to the S&W 686 (which I also own), or the Ruger GP100. The fact that it is no longer manufactured is what adds the extra $'s. There's also an intangible when it comes to Colt revolvers that's worth paying a bit extra for. I also have a 6" Python that is the firearm I would keep if I could only have one.

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    speedster...I too have a python, its a 57



    I have been told that the cobra is the poor man's python and since the pythons are so expensive people are now collecting king cobras. Which is driving up the price as well.
    Speedster likes this.

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    Ping10: Very nice. I have your twin. It is an '81 and I've had it since '83, and don't anticipate ever selling it.
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    Quote Originally Posted by Speedster View Post
    I had a weak moment this past weekend and purchased a King Cobra, and am concerned that I may have paid too much (buyers remorse?). It is 4" Stainless, all original in almost perfect condition, no box or papers. I am at least the 3rd owner and the previous owner never fired it, but wasn't sure of the earlier history. There are very faint "burn rings" on the front of the cylinder but otherwise appears as if it was never fired. A serial # search on the Colt website suggests that it was manufactured in 1996. At this point my questions are: What is the approximate current value?, Any thoughts on expected future value?, If I proceed to use and enjoy but keep it in excellent used condition what does this do to the value? Thoughts and comments are appreciated.

    Future value ? For a used King Cobra with no box. It will be worth about 5% more a year from now than it is now. No huge upside on the gun investment wise. The gun is more less just a tool at this point in its life. Shoot it and don't worry about what you paid for it, that's history. By the way your already ahead of the curve, with a grand in it. The current market value of the gun is 1150.00-1200.00 based on what you have described

    John
    Last edited by John Fugate; 10-09-2013 at 09:39 PM.

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    Quote Originally Posted by Speedster View Post
    Ping10: Very nice. I have your twin. It is an '81 and I've had it since '83, and don't anticipate ever selling it.
    Speedster...is your KC bright stainless...I believe Colt called it "Ultimate Bright Stainless" ?

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    Quote Originally Posted by John Fugate View Post
    Future value ? For a used King Cobra with no box. It will be worth about 5% more a year from now than it is now. No huge upside on the gun investment wise. The gun is more less just a tool at this point in its life. Shoot it and don't worry about what you paid for it, that's history. By the way your already ahead of the curve, with a grand in it. The current market value of the gun is 1150.00-1200.00 based on what you have described

    John
    John...how much value does the box add? What if you have the box but no paperwork as in my situation at a cobra I am looking at that is regular stainless from 1987 (I called colt). Its in good shape but has been fired and you can see the turn line. Thanks for any info


 
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