TEAM SWFA - Admin
Colt Handgun Fetches Nearly $1 Million
Complete auction lots garner $3.28 million
By Bruce Felps
Tuesday, Sep 20, 2011 | Updated 4:15 PM CDT
The revolver is the finest known surviving example of Samuel Colt’s first revolver, produced by the legendary gunsmith in Paterson, N.J. in 1836, according to Heritage Auctions.
Someone identified only as “Silicon Valley mogul” certainly has a thing for rare handguns.
Mr. or Ms. Mogul won a Heritage Auctions, well, auction Sunday and holstered an 1836-vintage Colt revolver for a cool $977,500
The bid set a world record for an auction price paid for a single firearm, according to the Heritage press release, and who’s to argue?
The entire package of four lots of near-mint — there’s the key — Colts, part of the Al Cali Collection [shrugging shoulders], fetched $3.28 million.
The set included a Colt Blah-Blah, a Colt Mumble, a Colt What’s-it, and a Colt Thingy. Hey, what do I know from guns?
Anyway, the auction proved, according to Greg Martin, president of Arms & Armor at Dallas-based Heritage Auctions/Greg Martin Auctions, that, “Prices like these, which show that craftsmanship, rarity, beauty, and historical importance bring a true premium, also show that serious buyers know that pieces like these are real investments, certain to appreciate in value as the years progress, and certainly worth serious consideration when it comes time to bid.”
Here’s wishing that all handguns cost so much.
Bruce Felps owns and operates East Dallas Times, an online community news outlet serv