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Why Big-Dollar Guns Are Worth The Money
A number of bloggers have questioned the wisdom (and in some cases the sanity) of people who spend megabucks on the kinds of guns that you can buy at the SCI Convention. It may not make them feel any better, but in many cases expensive guns are an extremely smart investment. And sometimes, even good factory guns do right well.
Back in the 1960s, gun writer Mason Williams had a collection of 6 Super Grade Model 70 Winchesters in calibers from .257 Roberts through .375 H&H. They were all pristine, and at the time he bought them they didn’t cost a lot of money, but today they would be worth a bundle.
Truly fine guns always appreciate. In the mid-1960s, Abercrombie & Fitch (back when it really was A&F) imported a set of five Holland & Holland shotguns, .410 bore through 12 gauge, stocked from the same tree and housed in a rosewood gun cabinet lined with bleached Scottish deerskin. The price was something like $150,000, which was fantastic money for the times. One other set was made, and no more. If either of them should come on the market, what would be the asking price? I am assured by an eminent seller of shotguns that it could be a million dollars.
In 1980 I ran across a Westley-Richards droplock double rifle with barrels in .300 H&H, .375 H&H, and .458, that was stocked for a southpaw shooter. The price was $30,000, which I didn’t have, but if I had bought the rifle it would now be worth $85,000 to $100,000.
Some guns fetch big bucks even though they don’t deserve to. The Winchester Model 21, which is by no stretch of the imagination a fine gun, brings very serious money, and the engraved and inlaid versions command princely sums, even though the engraving and inlaying is done at a third-grade-art-class level.
And some fine guns don’t appreciate at all, most notably the synthetic-stocked working rifles. Even the best of them are never going to get your money back, or even close to it, no matter how nicely they’re put together.
Dave,
I think most hunters are not buying guns for the investment, but occasionally we get lucky.
I do think that if you buy a well made gun (new) there is an above chance you will lose money on it.
When buying a well taken care of "used gun" I have always been able to get my money back or somtimes make money.
In the days of electronic machinery and cheap labor (outside the US) gun companies are taking advantage of the customers. I could be mistaken, but most of the "top notch" engraving is done via CADD programs and CNC trimmers.
Even most of the wood is carved with a computer, and only the final fit is done by hand.
It is no surprise to me that companies that still hand carve stocks and engrave charge a healthy price.
Posted by: tom | February 13, 2007 at 10:40 AM
Dave,
I think most hunters are not buying guns for the investment, but occasionally we get lucky.
I do think that if you buy a well made gun (new) there is an above chance you will lose money on it.
When buying a well taken care of "used gun" I have always been able to get my money back or somtimes make money.
In the days of electronic machinery and cheap labor (outside the US) gun companies are taking advantage of the customers. I could be mistaken, but most of the "top notch" engraving is done via CADD programs and CNC trimmers.
Even most of the wood is carved with a computer, and only the final fit is done by hand.
It is no surprise to me that companies that still hand carve stocks and engrave charge a healthy price.
Posted by: tom | February 13, 2007 at 10:40 AM
Geez, Dave!
Why are you knocking the Win. 21?
Is it because Winchester never gave you one? I had 4 of them and still consider a 21 the best American sxs made.
Posted by: michael | February 13, 2007 at 11:20 AM
Sometimes even little-dollar guns are worth the money. As a chump-change economy-of-scale example, I bought a pristine little Beretta BL-4 20 gauge several years from a local shop. Now the lower-grade BL series Berettas are nice guns, but they aren't exactly collector-hot like, say, a comparable-vintage superposed 20. I have been surprised, however, to see my little BL-4's value steadily increase over the past few years. It's not ever going to fund my child's college education or be my IRA, but it's nice to know I won't be losing any money on it. Sometimes we get lucky...
Posted by: Chad Love | February 13, 2007 at 11:23 AM
Dave,
While I can appreciate the examples shown I still say land is a much better investment than guns will ever be.
With land you can hunt on it, fish on it, farm it, timber it, camp on it, lease it to other hunters, put it in the CRP program and just plain enjoy it.
I have a friend who leases his 400 acres in Illinois for 8000.00 per year for the hunting rights. He paid 900.00 per acre 15 years ago for it and that same land is worth three times that now. I would say that's a pretty could return on his investment.
On this issue I respectfully disagree with you.
Jim
Posted by: jstreet | February 13, 2007 at 12:31 PM
Fine guns are always worth the price IMO. Its OK if a person prefers the more economical models, but it gets to the point where a sportsman wants the artistry to take the “edge” off a sporting arm. My guns have increased in artistry as my economic conditions have improved in age.
This “tactical” stuff is functional, but it’s not very classy. I fear the interest in tactical represents more shooting [tactical style] and less hunting.
There’s a good reason why Winchester 21’s aren’t made nowadays. Winchester 21’s I’ve seen in some upland bird models are passable, not great, and just passable. Some of the other configurations with beavertail fore ends, vent ribs, and other desired sxs features described by Jack O’Connor are high-tag monstrosities lacking balance and swing like telephone poles. …The last kind of bird gun I’d take for grouse or quail. Workmanship I’ve seen on Model 21’s leaves me scratching my head. I’m not a fan of Parkers, either. The Parkers I’ve seen have more spit than polish, and they are stocked weird. In fact, most these old doubles [Bakers, LC Smith, Parkers, Etc] seem to have been stock for the head held high. I find upon quick mounting these guns I’m staring at the tang. The old, high grade Ithaca’s and Fox’s I always thought where better made and more functional guns although writers always seem to pass them by.
Can’t wait for the Love to follow this rant of my dangerous opinions. :-)
Posted by: Mark | February 13, 2007 at 01:16 PM
Dave,
I can appreciate a fine firearm as much as the next guy, but when it comes down to it, isn't it about what you bought the gun for in the first place? Let's imagine that I had a $150k shotgun in my cabinet right now; would I really take that out after pheasants in a briar patch, risking a scratch to its fine finish? When I got my first firearm, I was tought not to get one that I was ever afraid of taking to the field on a rainy day, etc. When a particular shotgun or rifle becomes too expensive to enjoy in the field, it has lost its purpose in this world, and religated itself to the ranks of stocks and bonds.
Posted by: Tim H. | February 13, 2007 at 01:33 PM
To Michael: Winchester never gave anyone a 21, at least after it became a custom-shop model. Mark has put the case eloquently, and I can only add this:
The 21 is a very strong gun with an excellent single trigger, but it is not in a league with a Purdey, or Piotti, or any of the other fine British, Belgian, or Italian guns. I think that among American guns the Fox is better, but even that is not in the top rank.
I've owned three Model 21s, and they were nice enough, but I would have traded all three for a Piotti.
Posted by: Dave Petzal | February 13, 2007 at 02:31 PM
Well, I have "economy" rifles that are wonderfully accurate and i consider them my working rifles. My stainless/synthetic Savages in 30-06 and 308 will group around 5/8 MOA out to 750 yards. I consider selling them all the time.
I do own a Blaser R93 Prestige w/ 243, 30-06, and 375 H&H Barrels.It was an expensive all-inclusive setup at $6000, but well worth it. It's beautiful, accurate, and I'll never sell it. I cringe at the thought of scratching it, but I bought it with the intent of taking it to Africa and that's where it's going. Whether it gets scratched or not.
Posted by: Theycallmestick | February 13, 2007 at 02:34 PM
No rant here, Mark. You're right. Fine guns ARE always worth the price and I always thought the Model 21 was pretty damn ugly and ponderous myself. Not like I could afford one, but if I could afford one I wouldn't buy one. Or maybe I would buy one just to say I had one. Yeah, that's what I'd do...
And I do have to respectfully disagree with Tim H. If I had a $150,000 gun in my cabinet it would get used and used often because the very fact that I had a $150,000 gun meant I could afford to not care if it got scratched...
Posted by: Chad Love | February 13, 2007 at 05:06 PM
No rant here, Mark. You're right. Fine guns ARE always worth the price and I always thought the Model 21 was pretty damn ugly and ponderous myself. Not like I could afford one, but if I could afford one I wouldn't buy one. Or maybe I would buy one just to say I had one. Yeah, that's what I'd do...
And I do have to respectfully disagree with Tim H. If I had a $150,000 gun in my cabinet it would get used and used often because the very fact that I had a $150,000 gun meant I could afford to not care if it got scratched...
Posted by: Chad Love | February 13, 2007 at 05:06 PM
Are the values you are quoting for the gun prices "back in the day" in today's dollars? If not, once you take into account inflation, many of those examples you quote don't look so good.
Posted by: TomK | February 13, 2007 at 05:41 PM
Functional Baby, Functional!
Posted by: skunk | February 13, 2007 at 06:10 PM
Weapons and art go together. The purely functional device is an artform in itself. Decorated weapons have been with us before we painted cave walls. A beautiful weapon is a joy forever. To put a price on beauty, diminishes the soul.
Posted by: PbHead | February 13, 2007 at 10:21 PM
Any suggestion on high grade production (or semi-production) rifles under $2500...Kimber, Cooper..Dakota
or
Where can you get a nice custom rifle for under $2500 with a wood (walnut) stock
Posted by: CatskillHntr | February 13, 2007 at 10:29 PM
Forgive me Dave: I'm only posting this here because I can't find an e-mail address for you in F&S or its webpage:
Have you ever considered compiling some of your columns and/or blogs into a book? It might well become a "Shooter's Bible.”
I avidly read your column first thing when I receive my F&S. In fact, I’ll always be grateful to you for advice garnered from your column, which is why I thought the book might be a great idea.
When I was about to buy my first deer rifle in 1998, (not having fired a center-fire rifle since basic training in 1972,) I was originally intent upon getting the biggest cannon, with the flattest trajectory I could find. I was even naïve enough to be considering and pricing the .300-378 caliber.
Fortunately, I recalled some of your advice in F&S wherein you made sensible arguments about availability and cost of ammo, flinching in response to a rifle’s “kick,” and the fact that a more sensible caliber weapon doesn’t kill a deer any less thoroughly than a larger, impractical weapon, (and the deer seem to be ambivalent, as well!).
I finally bought a BAR in .308, and have never regretted the decision.
Best Wishes
Posted by: Lastearlofshaw | February 14, 2007 at 09:13 AM
Here are my 2 cents in Response to:
Any suggestion on high grade production (or semi-production) rifles under $2500...Kimber, Cooper..Dakota
or
Where can you get a nice custom rifle for under $2500 with a wood (walnut) stock
In my opinion, the best buy under that price would be a SAKO 75 Deluxe. They have some of the nicest wood and are very strong and accurate gun. Ask any benchrest shooter about a SAKO action. The "new" 85 model which was at the SHOT show is not yet available in the Deluxe model. You can get a model 75 with Great Wood for about $1700 (second hand) and a new one for about 2300. When you look for accuracy, Sako gives you sub 1" moa guaranteed with a wood stock.
Just my two cents!
Posted by: tom | February 14, 2007 at 09:47 AM
To Lasteralofshaw: Thank you for the kind words. For now, no book. Coming up with fresh lies for the magazine and the blog takes up all my time. But if there is a book, I have a title for it:
I Didn't Shoot the Zonkey."
Posted by: Dave Petzal | February 14, 2007 at 10:14 AM
ha ha, He wants to know where he can find ha ha a nice ha ha custom rifle ha ha for under ha ha $2500 with a ha ha wood, ahem walnut stock ha ha ha...... That's like finding a free box of godiva chocolates on valentine's day... ha ha
Posted by: skunk | February 14, 2007 at 11:01 AM
I bought a Kimber M1911- fully blue in 1994 for $500. That same gun today (brand new) would fetch closer to $1,000. Sometimes it is about doing your homework when it comes to spotting quality and getting lucky that others see the same in a particular manufacturer's products and hence, buy them. Kimber enjoys a VERY strong market today. I have no doubt that the '94 model will fetch over $2,500. Why? Because soon after I bought it, I had it engraved (100% coverage) by a reputable artist.
Quality first, finery second, the future value will come with time.
-Troy S.
Posted by: Troy S. | February 14, 2007 at 04:15 PM
Dave -Glad I provided some comic relief for you (re: $2500 custom rifle)...I am relieved to see that you are witty in print and the boring talking head you portay on the History Channel is just a facade.
How about a $4500.00 custom rifle? There has to be one or two upcoming gunsmiths out there.
Posted by: catskillhntr | February 14, 2007 at 09:21 PM
To Tom:
...another, perhaps practical, aspect of the Sako 85 is the availability of 338 Federal chambering. Ballistic specs for that round look very promising and that should add additional value to the rifle.
Posted by: Quahog | February 15, 2007 at 08:35 AM
$30,000 gun bought in 1980 and sold in 2007 for $100,000 would produce a 4.56% return on your investment. And, that's assuming no gun broker fees are involved or other expenses. Just buy whatever you can afford and enjoy the memories made with friends and family using them out in the woods where they belong. Regards, Charles
Posted by: Charles Benoit | February 15, 2007 at 12:39 PM
26 years to triple your money? That's three percent annual return. I think I'll keep buying to shoot them, thanks.
Posted by: Free Beer | February 24, 2007 at 06:41 PM
I have a Winchester Model 12 Pump 16 ga. and wondered what it was worth.
Posted by: Jon King | March 03, 2007 at 05:53 PM