Tuesday, September 2, 2014

What Would You Do?

If you came into possession of a collectable firearm, one that was "never fired', "NIB", "NRA 100%", with all the original papers, would you shoot it?

 Here's a link to the firearm in question. I don't care for these commemorative engraved guns, but obviously there is a market. It's a general question, though, you could imagine the gun of your choice, a Colt Python or some hand made English shotgun, or whatever. Would you shoot it or store it?

What's interesting about the link is the replies.


Kristophr said...

A commemorative loses all value other than being a good shooter once you shoot it.

Commemorative collectors only want unfired examples. Period.

Often a commemorative will have one of the lands in the bore plated so someone examining it can tell if it has been shot. Or some internal parts will be plated ... same effect.

Don't waste money on a commemorative if you want to shoot it. Go buy a new firearm, and shoot that.

Jeffrey Smith said...

That is a Franklin Mint gun. Pretty on the outside, that is all. But the entire value depends on the outside, not the inside.
Frankly, that thing is so that over-engraved that the only possible thing to do with it is to donate it to the VFW (to whom after all it is in a sense dedicated)and get the tax deduction.

R.K. Brumbelow said...

DougGuy Already answered the question on the post. NIB means just that.

It is not true 1/2 the value goes away when you pull the trigger, as frequently the box itself is 1.2 the value. But 1/2 the value of the gun (which is 1/2 to 2/3 the value of the set) is lost immediately.

Keep it NIB and get a shooter to play with, unless you have enough money that a few hundred dollars to shoot it once doesn't mean anything to you in which case I have a number of products including a bridge to see the owner. (all for a good cause)

Sherm said...

If, as has been stated, that is a made for the collectibles market collectible than it's only hope of retaining any comparable value is to keep it unfired.

I wouldn't be surprised, however, if its value is already far below what he paid for it. I'd guess most everyone who wanted a magazine advertised "collectible" .45 ordered one. It's not like its a one of a kind presentation model. I suspect they took orders until they couldn't sell any more and stamped a "one of" on it rounded up to a realistic number. They may have sold 100 or they may have sold 85. Whatever they sold was the market and that market is now saturated.

My wife has a lot of collectible plates that I suspect she'd be hard pressed to give away. I'm sure the gun could be given away but its premium over a shooter is minimal. (At least at my house.)

Your experience may vary.

Goober said...

I'd sell it. I've no use for such a thing. Can't even imagine the desire for a gun that you're not supposed to shoot, unless it's a family heirloom that's rendered unsafe from age.

Goober said...

One more thing -

Keeping in mind that things that were specifically made with the intent and purpose of them being collectible:

1.) Rarely are;
2.) Rarely are very valuable, even with age;

This gun is likely never going to be all that valuable. It's like a beanie baby. The intrinsic value of the thing, beyond it's salvage value in parts and materials, is that someone is going to want to collect it, but very few collectors actually collect collectibles. Which is why beanie babies crashed and burned, because they were thing created specifically to be collected.

Most true collectors actually collect items that were never meant to be collectible at all, but are rendered rare and unique by the passage of time. Porcelain oil advertisement signs, for instance, were never created to be collected, but there is a huge collector's market for them, mainly because they were pretty much useless once the advertisement was no longer needed, so most of them were destroyed, and NOW THEY ARE RARE.

Who's making this 1911? How many of them did they make? Are they strictly limiting the run? Are they commemorating something that people will be interested in in 50 years?

Or is the entire value of the thing boiled down to the salvage value of the parts and metal?

Dave H said...

I don't have a problem with owning a commemorative item, but artificial scarcity (which is what a limited run really is) is a sales gimmick.

I have a Bicentennial Ruger Mark I. It's not rare because pretty much every one Ruger made that year has the stamp on it. I didn't pay any extra for it; it was used when I bought it; and it's not a safe queen. It's just another rimfire pistol to anybody else. But it's special to me because the first handgun I ever handled was Dad's Mark I, and 1976 is the year I first started dating my wife. I don't think the NRA is going to be selling many of those.

selsey.steve said...

If it's a Franklin Mint version it's going to be worth diddley-squat as a "collectible". I no way is it 'special' other than the gross amount of machine engraving on it.

burt said...

I collect fountain pens - but I don't intentionally set out to buy "collectable" fountain pens. Just like "collectable" shooters, they lose their value immediately when purchased - unless you purchase them for well-below the asking price.

And just like shooters, fountain pens are made to be used. But unlike shooters, fountain pens don't necessarily age well: the rubber sacs harden or disintegrate over time.

So, I *use* my fountain pens - just as I *use* my shooters.

(I once happened on a couple of "collectable" sets at a price that made sense and bought them. But I also knew that these sets had already depreciated FAR BELOW their original cost.)

NotClauswitz said...

A friend of mine had one of those gaudy things, he took it apart and had it hot-tanked and re-parkerized, and used it as a gun.

Paul Schwa said...

To each their own, but in my opinion that's one butt-ugly gun.
If you think that gun is pretty I've got a "collectable" big-eyed Elvis in clown garb painted on black velvet you're gonna love!