Colt Forum banner
1 - 18 of 18 Posts

·
Registered
Joined
·
15 Posts
Discussion Starter · #1 ·
I was all set to order a new SAA from the custom shop and then a friend of mine asked me to look at an old pistol he was going to sell. Well it turns out, its a 1877 in 32 colt. It's a 3.5 inch blued model, without ejector, about 70% finish remaining, excellent markings and grips. Based on the serial number it was made in 1888, according to proofhouse. Didn't have my camera with me when I looked at it, so no pictures, yet.

Any ideas on the value? I want to give a fair offer for it. He originally asked me to give him $500 for it, but I told him,it was worth more. I know they are super rare, he is a good guy and fellow marine, I want to give him the market value for it. I know I will keep it, and it will only go up in value.

Thanks
 

·
Registered
Joined
·
15 Posts
Discussion Starter · #3 ·
I will be picking it up Wednesday. I told my friend I would research it and try and determine a fair value and pick it up and pay him on Wednesday.I will post a lot of pictures.
 

·
Registered
Joined
·
60 Posts
Depending on who you believe, there were only around 200 to 300 made. If those numbers are indeed accurate, then I would estimate that maybe 100 to 150 remain today. And probably less than half that number in nice shape and fully functional.

Very hard to determine a estimate on value for a couple reasons. One is no pics to view and the other is not alot are sold of course due to the rarity.

Also is it functional?

I would say if its is in nice original condition and fully functional it could reach upwards of 2000.00 Plus. You never know if you get two Collectors going at it that need it to fill the void that most Thunderer and Lightning collectors have concerning the rainmaker, it could go crazy high.

Without photos and knowing the overall condition and functionality, I would say give him 1500.00 if you want to be fair..That 1500.00 could very well turn out to be a bargain for you however, if you ever decided to resell it.

If he is indeed a close buddy and you did ever profit in a large amount you could make the deal that he should get part of the future profit if it happens.

They are probably not going to increase in value so much in the future, but will keep up with the rate of inflation for sure. There are just not many in the marketplace to be bought up causing them to become harder to find, thus causing the price to significantly increase due to supply dropping. They are already established as a very rare Revolver.

Also thanks to you both for your Service. It is appreciated greatly.

Would love to see pics if you get it or even if you do not..
 

·
Registered
Joined
·
2,411 Posts
Good friends are worth a lot more than money. I like carbineone's suggestion that you give him $1500 and share any future profits on the gun. That way you get a deal, he gets three times what he wanted, and you both get a piece of future appreciation. That's about as win-win as you can get between a couple of buddies.:D

Buck
 

·
Registered
Joined
·
3,255 Posts
based on the Blue Book I would offer a $1000 which is about where a 70% gun is today and if you are so moved offer the split on any future profit. Semper Fi, not because I was a marine but over 28 years I served with and respected many Devil Dogs. OORHA!
 

·
Registered
Joined
·
60 Posts
Well the book values on these are not really going to have alot of accurracy in the real world. They are just never sold too often as you can figure. I used to collect Lightnings and Thunderers and I never did encounter one in person.

I do remember a guy that claimed he had 5 of them in his collection at one time. Really hard to believe but that was his claim.

I do however remember one pretty nice one bringing right at 3200.00 at one of those High dollar online auction houses a few years back..If I can find any archives of that auction I will list a link..

Found a couple that were differant than the auction I remember but close to the same pricing.

Based on these maybe my 1500.00 dollar suggestion is too low. But condition and functionality of course will determine that in the end.

As you can see they both surpassed the estimates by a pretty substantial amount. Just as they will always surpass the "Blue Book" too at an auction setting.

Show him what your research has found and agree on a price you can both live with,that is the most important thing here. Its a deal between you and your friend. No one else.

And do not forget the pics..Thanks
http://poulinantiques.auctionflex.c...yword=Colt+32&lso=lotnumasc&pagenum=1&lang=En
http://poulinantiques.auctionflex.c...yword=Colt+32&lso=lotnumasc&pagenum=1&lang=En
 

·
Premium Member
Joined
·
6,783 Posts
Well the book values on these are not really going to have alot of accurracy in the real world. They are just never sold too often as you can figure. I used to collect Lightnings and Thunderers and I never did encounter one in person. I do remember a guy that claimed he had 5 of them in his collection at one time. Really hard to believe but that was his claim.I do however remember one pretty nice one bringing right at 3200.00 at one of those High dollar online auction houses a few years back..If I can find any archives of that auction I will list a link..Found a couple that were differant than the auction I remember but close to the same pricing.Based on these maybe my 1500.00 dollar suggestion is too low. But condition and functionality of course will determine that in the end.As you can see they both surpassed the estimates by a pretty substantial amount. Just as they will always surpass the "Blue Book" too at an auction setting.Show him what your research has found and agree on a price you can both live with,that is the most important thing here. Its a deal between you and your friend. No one else.And do not forget the pics..ThanksLOT #2234 - Colt 1877 Lightning Double Action Revolver.LOT #2059 - Colt 1877 Lightning Double Action Revolver.
If the gun appears to be all original and in a solid 70% condition (even wear; not pitted or scratched up) I would probably offer $1,500 and then order a factory letter. If the gun checks out, $1,500 sounds low, so I would offer my friend some additional cash (maybe at least another $500).
 

·
Registered
Joined
·
15 Posts
Discussion Starter · #15 ·
We did a lot of checking around on this, and the last one that we could find that sold at auction was over $3200, we did find another for sale, it was a nickle plated version and about 95% shape, they wanted just over 6k for that one. I couldn't afford to offer what I thought was a fair price. So we contacted Rock Island Auction Company and they are going to sell it at their next auction. I think he will do well and I am going to place my order from the custom shop as originally planned.

I will post a few pictures of it shortly.
 
1 - 18 of 18 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top