Guidance with gun values

[Daddymac]

My Brother-in-law passed away and left behind several guns, my Sister-in-law has ask for my help for my help in putting a "value" on them. She is not ready to sell, but I know the finances have been strained and I assume she is looking at future security.

Most are standard modern guns that I can research with the blue book and on-line auction sites, but she has a few that I am not sure about, one example is a Colt 1911 marked "Model of 1911 US Army" on one side and "US property" on the other. The blueing is very good, so good I think it has been re-blued and it has aftermarket grips, and I know all of this effects value, the rub is that on one auction site has similar pistols listed from 1600 to 8000, with zero bids, so no help.

So what is the best way to go about this? I plan on calling the manufacturers with model and S/N to see if they can date the guns in question, but the last time I called a mfg. about a date they were reluctant to give a value. I am a gun guy but far from an expert and I realize one old gun can be a piece of junk and another a treasure, I just want to give her a fair and accurate value.

Any guidance on how to approach this would be greatly appreciated.

Thank you.

 

[Just Say Moe]

You should be able to date the 1911 with a Google search pretty easily. If it is a true 1911 (not 1911A1) it would be pre WW2 vintage and were most likely originally blued. Could be worth several K even if reblued. The CMP forum has a 1911 section and posting a few pics there will get you tons of info I'd bet.

As for the other guns, the manufacturer rightly so would not assign a value as it is not their business model. You can use the Blue book of gun values but these are approximate and based on condition which is arbitrary. You can search for sold items on Gunbroker for prices of what were actually paid.

Just make it clear to your SIL that any value assigned is based on the ability to find the right buyer and might take time. It is NOT walk into a gun store and sell it price.

I wish you luck and sorry for hers and your loss.

 

[David Milisock]

Do you know any local reputable dealers? If so start there, go to multiple dealers.

It's just my opinion but many WWI & WWII corrected to as issued are listed on line forever and seem to not move because of the price and the fact that they are not as correct as the seller claims.

After WWII FN had a contract to rebuild firearms in the European theater with zero markings or regarded for correct (as manufactured parts) and Howa did the same in the Pacific theater.

So 99.99% of the firearms are mix masters, meaning that if they are correct, (which is a big maybe) they were in many cases rebuilt by some who researched the manufacturer, the serial number and date. They bought other rifles to scavenge for the parts they need of found parts. So they may be correct for their date and number but they are not as issued.

That does notmean that they have no value, Iwas offered $2500 my M1A1 30 Carbine and $2000 for my Quality Hardware and I tell everyone that they are rebuilt perfectly functional shooters.

 

[butchlambert]

For Colt MFG. Date https://www.colt.com/serial-lookup
I purchased one from a member here for $1500. I believe it is a 1918 mfg. date. It needs to be original and not buffed and refinished for the good money.

 

[cmysix]

most good gun smith shops have an appraisal service, All American gunsmith in Columbus Ga. does.

 

[1911nut]

If you have a Gunbroker account you can search in “completed items” to find what a simliar gun sold for.

 

[jepp2]

So what is the best way to go about this?

My approach, use anything that might be helpful to you.

I've found the printed books are generally a poor way to determine current value of "some" firearms. They may be Ok a portion, but if there has been an increase in selling price recently, they aren't dynamic enough to reflect that.

I search the completed auctions on GB for similar items (condition, appearance, use etc) and only look at the auctions that SOLD. Forget the rest. If you do this, you will find most folks take terrible pictures and offer little in the way of description. You can do much better. Good lighting, in focus pictures showing all portions of what you are selling will increase the bids you receive.

Once you have an idea of what similar firearms have sold for, pick the minimum price you would sell yours for. Let that be the starting bid on a 14 day auction. No bids mean no fees to you. If you use a reserve price and it doesn't sell, you pay the fee on the reserve price. Make your listing "as is, no returns". Pick your start time for the auction to be a good time for bidders to place their final bid. I usually choose around 9:00 PM Eastern time. I avoid nights with football or other things that might keep folks from bidding. Be content with what your item sells for, you priced it.

Have a clear idea of how you will handle shipping what you sell, and have the supplies on hand to accomplish that without damage to the firearm. For a long gun our options are:
- USPS
- use an FFL
- https://www.shipmygun.com/go/

For a handgun your options are:
- Use an FFL
- https://www.shipmygun.com/go/

 

[ShtrRdy]

I sold an original 1911 that was made in 1919 for $1400 two years ago.

If you attach a picture we could tell you if it's a 1911 or a 1911A1. Or you could do a search with the serial number to get an idea what year it was made.

 

[ryanjay11]

If you have a Gunbroker account you can search in “completed items” to find what a simliar gun sold for.

Great call on this.

Unfortunately people often use current listings that have been relisted for months or years at absurd prices to get their comps. You want to use what things sold for, not what things will never sell for.

 

[spudgun]

For values on what people are paying for a gun go onto www.truegunvalue.com.

This website will show what people have PAID for a gun.

the 1911 is a tough one for sure. Look at the roll marks on the slide and frame. If they are not sharp edges but look rounded this is a indication that it was buffed out and re blued.

 

[Daddymac]

Thanks for the info.

 

[dryhumor]

If you did an internet search on vintage or pre war colt 1911s, and then select images, that would give you a visual comparison. Once narrowed down, open the result to gain the information. Not all the information may be useful, but the general information will help in searching via specific information. Knowing what ya got helps in determining the value.

CMP is in the process of round 4 sales. There should be data on the net from the previous rounds, along with photos.

An Official Journal Of The NRA | Review: CMP Field Grade M1911A1

Through the Civilian Marksmanship Program (CMP), qualifying buyers can enter a lottery to purchase their own genuine U.S. military surplus M1911 or M1911A1 pistol.

www.americanrifleman.org

Be aware, that anyone in the business of buying and selling firearms “may” provide a lower value estimate and then a “high” value offer within that estimate to purchase at the time they provide the value estimate.