Help with value.
 

I have an older friend that recently had a stroke. He has several Luger pistols that he asked me to help him sell. I have no idea the value or the exact model. Any help on value and identification would be appreciated.

1. Made by Mauser, 1939, blued. All matching numbers. Very clean looking pistol.

2 DWM, Artillery?, 1917, Finish is worn. Left side of pistol has pitting. The picture really brings it out, in person it does not look as bad.

The clean one is a 1939 Mauser Banner police gun. Nice. I would expect around 1700 to 2000, depending on who's selling and who is buying.
The Artillery is rough, but still might bring 800 or so. Maybe more.
I'm sure we will get more opinions here.
(They are gonna want more closeup photos.)

I would essentially agree - probably a bit more for the Banner and a bit less for the artillery, since it will require a new take down lever.

Ed

Thanks for the quick responses. What determines the 1939 to be a banner police model?

not intending to be a smart...."because Ed wrote the book.."note his authorship in his header...he has infinite details on this subject....Tom:)

To give a straightforward answer, The Mauser banner on the toggle in conjunction with the 1939 date, plus the sear safety, (the little flat spring over the top of the sideplate), plus the "Eagle L" proof on the right of the receiver. All that together makes it a police issue gun. I would note that the magazine appears incorrect for that particular gun, at first glance.

Certainly not questioning anyone’s knowledge or opinion. We were looking in a gun value book, my friend had, and it listed a number of possibilities that this pistol could have fallen under, as made by Mauser. I am just trying to educate my self on how it is dertetmined to be a banner police, ie finish, markings, date.

Thanks again. What would the correct magazine look like? I think he has a couple other Lugers so it may have been swapped out or he may have extras. I will look when I see him again.
Are the the magazines numbered to the pistol?

It has the Mauser banner on the toggle, hence the name. The eagle/L is a polce-only acceptance marking; likewise the sear safety is a police-only modification/addition. And of course, as tomaustin noted, Ed Tinker - one of the respondents to your question - is an expert on police Lugers and an author of a book dealing specifically with police Lugers. ;) The gun has been identified correctly.

The magazine should have an unpainted aluminum bottom. I believe that it should also have the gun's full serial number and suffix letter clearly stamped on the bottom.
dju

A few more pictured of the Mauser Police that I had on my phone.

An unusually nice example that should sell quickly if priced right.
dju

If you can find a matching magazine it would increase the value of the 1939. The magazine would have an aluminum bottom with the gun's serial number and the letter "w" underneath. See photo.

this is what my notes show

broken part on artillery luger will hurt value. matching part is damaged and usually has to be tossed in trash if cannot weld or fix.

He did not have the original magazine for the 1939 Banner Police. He seemed a little disappointed when I let home know the estimates that were mentioned in the thread. I think he bought these pistols 30-40 years ago hoping that they would be worth more. He is not really a collector just bought them as an investment.

He had one more that he let me see. No date. Looks like it has a grip safety.

Nice! That one is a 1900 American Eagle Luger in .30 cal. It was mfg. for sale in the USA and appears original. Better do your research on value, like at Simpson, Ltd. website, but I'd guess it should be somewhere around $2k.
Too bad the owner is disappointed in value estimates he is hearing. Welcome to my world. The only things that appreciate madly are things that I do not own...
dju

Rarity, desirability, and condition, if you have all three, then you have an investment. If you only have two, then you have a hobby.

Granted, he may not have enough of an investment return on a couple of Luger to retire on, but he should be happy with current values. I’ll take the contrary position and say that if he bought them 30 to 40 years ago he did quite well on his Luger investment. Even if he spent $200 for a Luger in 1975, his asset’s value has increased tenfold. Almost nothing in the stock market has risen that much.

Not one mention of matching numbers "back in the day"

A Luger that cost $200 in 1975 and is worth say $1,800 today has appreciated at an annual rate of about 5-6%. Inflation has averaged about 3.8% per year during that time.

Over time stocks tend to be much better investments but are relatively more volatile, as anyone who was long in the market in 1928 or 2008 can attest.

Bill if you can tell me the date of that ad for the $49.85 Luger, I'll take a guess at value today and compute an appreciation rate.

I've played with Luger appreciation rates a few different ways, and my best guess is that over time they appreciate at a couple percent above inflation. That means IMO they are in fact a type of investment, albeit one that seems to appreciate less than some other asset types.

I can't see the serial number on the underside of the barrel. It could be the lighting, or would no serial # on barrell be normal for Banners? Does lack of barrel serial # indicate the barrel is a replacement ?

Don’t hold me to it, Greg, but I think that particular ad dates to 1959.

Thanks Bill. This calculator

https://www.bls.gov/data/inflation_calculator.htm

estimates that $49.85 in 1959 equates to $424 today. Expressed as a yearly inflation rate that is roughly 3.8% a year.

Assuming the pistols sold in that ad were military P08s in average condition and original finish, applying various annual average appreciation rates to that $49.85 original cost:

5% per year =$ 845
6% per year =$1,460

The way you read this is "if the pistol went up an average of 5% per year from 1959 to 2017, it is worth $845 today".

So, from 1959 to now, based on the assumptions stated, my guess is that this hypothetical "average" pistol would today be worth at least $1,000, i.e. it increased in value roughly 5%-6% per year. Phrased differently this would seem to support the idea that Lugers appreciate at a couple percent a year above inflation.

Thanks for posting that ad, the only way to figure out appreciation rates is to know what they sold for at earlier dates.