Johnny, I have sold 7-8 reblued Lugers for between $1000-$1245 EACH in the past two months. The problem with this idea is a steady supply of beater Lugers (shooters that have taken a beating) is not really there unless you want to pay around $600 for them.
http://www.gunbroker.com/auction/Vie...p?Item=5340706
http://www.gunbroker.com/auction/Vie...p?Item=5245610
http://www.gunbroker.com/auction/Vie...p?Item=4577644
A couple of examples. This even surprises me, but I guess people will pay for nice shooters.