That's crazy money.. I would sell my E nickel python for $5500 any day!
Just because something is rare or unique doesn't make it make it inherently valuable. In the early - mid '70s I was a manager at a large gun shop, and later through the early '80s I worked with a major S&W distributor. At that time the DBs were seen as a bit of a dog sales wise. We looked at them as kind of a pimped out detective Special, something of a sales gimmick to play off the reputation of the Python. There's nothing about the DB that makes it a particularly noteworthy or outstanding revolver, and certainly nothing that supports that kind of price. The perception of value has to be based upon something other than us just telling each other that it's worth that much, otherwise we might as well be buying and selling tulips.If that DB didnt have the box and 98-99%, it would have brought about 2000 imo. One thing to look at is even though the 4 inch 38 DB Enickel is the most common (the 6 inch 22 is close to it imo), they probably made at least 100 enickel pythons to every Enickel DB. I have been telling my buddies for a few years (even before I was into Colts big), to invest into NIB guns instead of 98-99%ers. The rate of return is always greater the higher the gun gets. I agree the current market on some Snakes is making me scratch my head.
I like your points JohnnyP. The A5 Market hits close to home as I had a family member who got put on the map because of the A5 Market and I would not be a FFL dealer today had he not done so well. The Difference in my opinion between the A5 and the Colt Market is that there were more than enough A5s to go around because of the numbers produced. With 850,000 Pythons to go around and 7 Million greedy Colt slob collectors out there who want to own 300 of each barrel length, the laws of supply and demand are taking over heightening the Colt Market well beyond the draw the A5 ever felt.I have to agree that there is a current craze in collecting recently produced pistols, and the prices being paid are way out of line with rarity. If the bubble bursts, and they have before, the collectors in for the short haul will be hurting. Probably the biggest adjustment was in the Browning A5 shotguns. When it was announced that production was being moved from Belgium to Japan there was a mad rush to buy every NIB A5 out there, and prices doubled over a few months. When collectors finally satisfied their appetite for the high priced NIB shotguns there were a lot left on the market with no takers. The prices of the shotguns fell and stayed there for a several years before starting to rise again in a more orderly manner. The Brownings came back on market demand rather than wild speculation, and now there is a stable market.
To a lesser extent the same thing happened with Rugers when the "New Model" was announced. The "Old Models" skyrocketed in price, and even those just made doubled in price in a very short time. Speculation again drove the market, and when everyone discovered that there was an abundance of the Old Models the prices dropped.
It just makes no sense to me to pay huge prices for something that Colt could again produce if they decided to. We will never see a return to the pre WWII quality and finish, and their place in the market has been extremely stable with prices rising in an orderly manner.
As to insane buying, a couple of years back RIA had a Walther PPK Party Leader rig, and most thought it would be a good buy in the $15,000 price range. It ended up selling near $65,000, and for no other reason than two people decided they just had to have it.
Yes, speculation is the proper description for what is currently going on in the Colt DA market....To a lesser extent the same thing happened with Rugers when the "New Model" was announced. The "Old Models" skyrocketed in price, and even those just made doubled in price in a very short time. Speculation again drove the market, and when everyone discovered that there was an abundance of the Old Models the prices dropped.
That reminds me of when I used to be into Corvette before I got interested in Alfa Romeos; It was often said that there were more restored '57 fuel injected Vettes than were actually built by Chevrolet. Kind of the same thing here, there's probably more NIB Pythons, Diamondbacks, and DS now than there was 5 years ago. With speculation there comes a big increase in fraud.Just to clear things up a bit. Most guns you see and claim to be NIB are NOT. That is a way the seller is trying to bs the buyer to get higher price tags.
I speculate that I won't be purchasing a NIB Python, Diamondback or other "snake series" due to the pricing becoming prohibitive for a guy that likes to shoot his firearms. I have the revolvers I've yearned for and see no worth in adding to more of the same. Got my Police Positives, Police Positive Specials, Officers Model Target, Official Police(s), Detective Specials, Troopers, Diamondback and Pythons. Managed to acquire a few N1908s, M1908s, and M1903's. A few Frontier Scouts and SAA's and now some new model semi auto's that Colt is doing a superb job with fit and finish and that Bright Stainless 1992 GM MK IV Series 80 that just makes me smile every time I hold her. Almost forgot the wife's GM .380 with ivory panels. The boys will enjoy my accumulation when I'm dust and I can concentrate on being a better marksman and maybe splurge on custom stocks and holsters and more ammo. When the well comes in, and it will, I may change my mind on a few handguns I have on my "wish list" but until then I'm "Happy, Happy, Happy". Timing is everything and luck is even betterYes, speculation is the proper description for what is currently going on in the Colt DA market.
Best regards,