Fair price for a 1902 AE
 

I have a line on a 1902 AE in 9mm. Seller grades it at 70%-80% and is thinking of asking $5000 for it. Mag is a blank bottom commercial and not "CAL 9mm" marked. Looking at Simpsons two that are for sale at $15k is this price ok? I usually stick with lower priced Lugers, so this is sort of out of my normal purchase range. He is going to call me with the serial number later and I will post it.

Doug, Oddly enough the Blue Book of Gun Values lists a 1900 AE at $5500.00 at 70% sounds pretty close to market value. You would have to want one of these pretty badly to spend 5 Grand on one. They are not in my collecting interest so do not appeal to me 5 grand worth. Do you collect these or just want to get one at a good price? I have found that sticking with my collecting goals lets me(afford) concentrate on pistols I want. Good Luck! Jerry Burney

Jerry, if you look at my album in the gallery you will see that I don't specialize yet. As I go along I have started to favor Imperial guns, in particular Commercial models. I just can't bring myself to sell the ones that do not fit into that category. The $5k was a ball park that he threw out. In all reality I will offer him much less. If it is nicer than he describes then I may have to sell off a few things to get it. I just never like to buy ultra high dollar Lugers as they can be quite hard to sell if you decide to.

Doug,

I would like to comment on your last sentence.

While I agree with the general loss of liquidity as prices rise, it has been my experience that this is more than compensated for by the fact that "big ticket" Lugers tend to appreciate much more and faster than more common pieces. Additionally, selection of the proper venue for sale is vitally important. You will have a difficult time selling a $5K Luger at the Kiwanis Club-Sponsored show in the National Guard armory; you will most likely have no difficulty selling if it is in a RIA catalogue or at the Las Vegas show.

My zwei pfennigs.

Tom A.

Doug, just out of curiosity, is this gun in NC?

George, the gun is in Illinois about 20 miles from me.
Tom, I think that for me in the Midwest it is harder to sell high dollar guns than those who live on the east or west coast. I have sold some big ticket guns like a Garbi SxS for $6000 and a Marlin Ballard Extra grade for $8000. The internet helps, but still not as easy.

unless something is a "steal", it many times won't sell really fast.

My area of collecting, weimar police, it is harder to sell a weimar police in 97% than a strictly Imperial at the same 97%...

I believe that if you have more time, placing it on a national auction, which has commission prices, it will sell for more than I could get off of gunbroker or auction arms...

Ed

I agree with Tom and would only add that i don't think it matters where you live as there are collectors looking for "big ticket" pieces. Problem is, no matter where you live, the "big ticket" buyers need to know you have this type of piece for sale.

An 1902 AE is a nice piece to have and hard to find in excellent conditon. In my opinion, condition will determine how fast these pieces sell. If the condition is there, it will sell quickly for big bucks, if it lacks condition it will not move as quickly. -- Bill

One that was in NC wound up in VA.