Dave,
You pose an interesting circumstance here, and provide an opportunity to engage in an interesting--and hopefully, fruitful--discussion.
Why do you want to buy a Luger? What are your expectations? Are you looking for a gun to shoot, are you looking for a Luger to begin a collection, are you looking for an example simply to own and consider?
Neither gun is particularly uncommom, estimated production of Erfurts in 1916 was 80,000 units, 1916 DWM estimated at 140,000. The fact that both guns are matching is a plus.
From your description neither Luger is collection-quality. Blued small parts on the Erfurt indicate that it has been reblued. As you recognize, the ground stock lug of the DWM is tragic, and absent other unique qualities eliminates its collectibility as well (many Lugers had their stock lugs ground under the erronious belief that they were illegal).
The Germany marked magazine is probably an original Commercial magazine, the blued tube/aluminum-bottom mag dates from 1936.
If you have not shot a Luger, you will not yet have experienced just how marvellously they shoot, and how accurate. Both guns are probably excellent to shoot.
$800 ($400 apiece, give-or-take) is probably a realistic full price for these two Lugers. To re-sell them for a higher price would be difficult, given the condition you describe--it could happen, but it might take a long time to find a buyer.
Provided the Erfurt was not buffed to death at its first reblue, it may be a good candidate for restoration. It would then have the value of its cost to you plus the cost of restoration--it will still not be collection worthy, but it might be a pretty nice piece. The DWM will, sadly, never be more than a nice-shooting gun.
If your desire is to start a collection, you can find a collection-quality Luger--which will increase in value over time--for your $800.
It sounds like you have found an interesting way to start your new year. Good luck, and let us all know what you end up doing.
--Dwight
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