Refinished 1902 Military Model - how much value hurt?
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Thread: Refinished 1902 Military Model - how much value hurt?

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    Refinished 1902 Military Model - how much value hurt?

    I'm thinking about buying a Model 1902 Military in .38 ACP. The pistol has been refinished and looks like it was professionally done. Markings are still clear and the bore is in very good condition. Very reputable seller and he disclosed the refinish but did not know who did it or what type of bluing was used. I have seen original examples that are 60 to 80% asking 2 to 3K. How much does the refinish hurt the value?

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    Please post some pictures
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    How much original finish is on a reblued gun? None. How much do values depend on percentage of remaining condition? Quite a bit. Basically, depending on the model, a reblued collectible gun is worth what one with a 10-25% condition is worth. The Blue Book of Gun Values shows those conditions-prices. It may not be exactly right, but it's close. Usually it's something like 98%=$2500, 95%=$1800, 90%=$1500, 75%=1000, 25%=$800.... (just a made up example)
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    As a word of caution, many of the old Colt semi prices haven't been updated in 10 years or more in the Blue Book (the 1902 Military was last updated in 2008!).
    Not sure why... (the online subscription shows the historical pricing so you can see that).
    For a nicely done refinish I personally wouldn't pay more than $1200 or so.
    Adjust price accordingly if it doesn't have an original magazine or grips (~$200+ for each).
    There are lots of decent originals out there right now for reasonable prices if you're patient, so it's tough to justify spending large money on a refinish.

    But at the end of the day it's really worth whatever you're willing to pay and be happy with it.
    Just be aware reselling a refinished gun will be tougher if you had to.
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    Pictures would help. If a really nice refinish, I wouldn't pay $2K, maybe $1500. Most refinishes aren't really nice so maybe $1K1902 11039 t (800x600).jpg1902 30619 tfm.JPG
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    For me it would completely depend on the refinish job, value to a collector has tanked though.
    krag96 likes this.
    Cheers,
    Walter

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    Thanks for the replies. Appreciate all of them. It is a very nice refinish that does show old pitting under the rebluing with no signs of current rust anywhere that I can see. The stampings are nice and clear and I do not see any signs of it being wire wheeled to oblivion. Grips are not original but are in very good shape. I understand that future value will more than likely never be much higher than what it is now but the $1200 asking price doesn't seem to far out of line. Still thinking about it though........
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    Grips were not numbered as a rule so any original ones should do.
    Cost: $100/200.
    Now you're in $1400 which is about enough for a 50/60% example
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    If it has a good bore they are a fun shooter with 38 ACP ammo.

    Jim
    krag96 and somd_mustangs like this.

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    Thanks for the additional comments appreciate it.


 

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