George Lugers' 45 Purpotedly Up For Auction
 

On Greg Martins' auction site

WTS: GMA beautifully printed catalog (new condition) with this gun on the front cover, detail description inside. Claimed being $65 value (probably the printing cost?). $50 shipped to 48 states.

If you love this gun, don't miss this oppertunity :)

it is already at $250,000...bid it up boys.....
 

...

$320,000 now. It's supposed to go (if reserve is met) on Sunday, March 14th.

Besides the calibre and initials, were there any other differences between this Luger and other made around this time? If this was he rarest, what was the second rarest? Did Grandpa George handmake the ammunation and does and spare rounds still survive?

Probably the GL marked Baby Lugers. IIRC there were only 2-3 of them also. Of course I could be wrong.

Regardless whatever, only 3 (?) of these were made, it's rarer than mass produced Colt SAA or Winchester rifles which carries big ticket price all the time. Rarity is only part of the story, there are many rare guns but not many people care, but this one is different -- Luger is the leading popular C&R pistol. Let's see where it will go. Not far away, tommorrow.

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Assume a 90% TE is $5k. I don't know, probably $6k. This one is 333 times rarer. 5k x 333 = 1665k, or 1.665M. But the market is not a linear system.

It sold for $430,00 plus the bidder charge.

(I hope that was above any reserve.)

$430,000 x 1.15 = $494,500

Watched on sideway. Reserve met. Still much cheaper than "Colt Walkerman"......

So I guess it has to be called the "Half Million Dollar Luger" now:roflmao:
Maybe it was the chipped grip.:confused:

Somebody lost some money on that gun.:rolleyes:

Bob

Yeah. Lesson learned -- if cannot keep a gun, then don't buy it. Selling is OK, but cannot do it in big hurry. Must take this attitude: sold? that's good. No? Not a big deal, keep it. Otherwise, don't buy it at the beginning. Collectors in this domain play at 3 to 6 digit price range, but the principal should be same across the board, IMO.

Two reason to buy an expensive one

1 - for enjoyment.
2 - for a profit.

#2 is a gamble.

You forgot the 3rd reason, "Because I can".... Wish I could fall in that category.

Or, 4th category, "Because I love losing money, don't lose money I don't feel comfortable. You can label me as mental sick, that's it" :evilgrin:

One guy coming back from Casino in CT said so. Gambling was his hobby. We scratched our heads trying to understand what type excitement could be found in losing $70k in casino. Not understandable for normal people. Probably like taking opium.

There are many,even with the recent bounce,in the same boat investment wise as the luger seller with the biggest casino in the world- the NYSE ! At least he got to enjoy the "investment" hands on !

Hi Bill, I think that, guns like the Aberman, are so far removed from the experience level (by about two decimal points) of most Luger collectors, that few feel qualified to comment on the sale price. I very much doubt whether the buyer, or the seller, were Luger collectors as we know them. Regards, Norm

Bill, You hit the nail right on the head. It matters not whether it sold for a million or or not! Do we really own anything? In law school contracts, first year that we are taught that we really own nothing!! Ownership is mearly a right of posesssion. Who ever purchased this gun was purchasing the right to posess it until he relinguises ownership either through sale or gift or stolen. So basically we must protect our right of posession from the rest of the world and decide to whom we wish it to pass. Its Price has really nothing to do with it Mearly a meeting of the minds!!

Cirelaw,
"Right of posession" "Right"? Whose Right? Given by whom? Another topic all together! A 'right' to health care, a 'right' to education, a goverment given 'right' for whatever fits the current administration purpose. MM?? Gun ownership is slowly looking going from a 'right' to a 'wrong'. Thank goodness we still have the surpreme court! Sorry for the soap box speach. I fully understand this is the wrong place for this and if the forum moderator removes this post I will understand.
Bill

Those of us who were present at the auction were amazed and disappointed to see the gavel come down on such a low price. It took barely five minutes to auction off this piece, and there was very little competitive bidding. You can probably add 8% sales tax if the bidder was an ordinary buyer. At least one thing came out of it: This pistol brought a record price for a Luger sold at auction.