"Collect-ability" is an interesting concept. Traditional collector interest is in all original, original finish, all matching Lugers in as close to factory manufactured state as possible.
But there are also non-traditional collectors. They tend to be more specialized and perhaps fewer in number. This decreases the demand for what they collect, and thus affects prices. When there is more than enough supply to meet those demands, the prices are lower.
From time to time, you'll see variations start to rise in value because they are becoming "collectable". For example, Russian Capture marked Lugers. They rise in value because several individuals start driving up the demand.
There were a large number of Lugers modified by engraving plating or decoration by GIs that brought them home after the war. As Lugers become more scarce, and individuals that find them attractive start acquiring them, you could expect the prices to increase - but perhaps not like those that traditional Luger collectors highly value.
One reason for this is that an unmodified all matching Luger cannot be made today, or ever again in the future. The number will never increase, even if collecting demand does.
That is also a good thing to consider when you do things that might turn a traditionally collectable Luger into a shooter.
Marc
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 Igitur si vis pacem, para bellum -
- Therefore if you want peace, prepare for war.
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