What happened here? (1936 Luger)

[Geo99]

Take a look at this auction - this 1936 Luger is what - about 85%?
And it just went for over $3200?
Am I missing something?

http://www.gunbroker.com/Auction/Vie...Item=543881835

- Geo

[alvin]

Nothing wrong with it. It just realized its intrinsic value.

Many guns are listed under intrinsic value, not sure why bidders were not attracted...

[alanint]

It Looks like a case of more money than sense. I don't see anything special and is that an import mark on the front strap, or just odd wear?

[DonVoigt]

Alvin's strange pronouncement aside; I do believe it was because 2 or 3 bidders got into a pi....ing war. Two finalists fought like gladiators!

Why escapes me also.

[alvin]

They must thought this being very hard to find. For many buyers, "rare" simply means they did not see it in local gun shops. Regular gun shops do not carry C&R pistols, so they thought it's very rare -- the volume reference gun is S&W M&P, or Ruger Mark III, Walther PPQ etc. Of course, it's rare comparing with current production guns. They did not know where to find these, and they cannot tell what's original finish etc. Safer play is buying a matching 80%. Nothing wrong, but there is a price trap. I bet they don't know Simpson LTD,,, this price is even higher than Simpson.

That's the reason I said the intrinsic value of this gun being high. This sample simply realized it. Not every gun can realize its intrinsic value though.

[DavidJayUden]

A very average gun that sold for a very unaverage price. Further rationale escapes me.
dju

[DonVoigt]

Alvin,
I don't believe you have the meaning "intrinsic" value sorted out.

Intrinsic: inherent, essential, innate, belonging to itself - per Webster.

Objects have an intrinsic value of the material and labor involved to make them, no more.

A luger made of silver or gold would have a higher intrinsic value than one of steel, or wood- due only to the recognized market value of one material vs. the other.

Though one could argue that as a tool, the luger would have the equivalent value of a Glock, or more or less $400- as they would each do the same job with more or less the same efficiency.

Thus all lugers(and most 9mm pistols) would have a similar intrinsic value; but a different "subjective" or "market" value.

The "value" achieved at auction is the "subjective" value; the specific value perceived by the one person who finally bought it; and totally unrelated to the intrinsic value of the luger.

English is a wonderful language.

[Edward Tinker]

whenever I have tried to sell - I usually get a low intrinsic value

[tomaustin]

I hope my insurance agent doesn't get wind of this....he will raise my rates......

[Sergio Natali]

Originally Posted by alanint

It Looks like a case of more money than sense. I don't see anything special and is that an import mark on the front strap, or just odd wear?

Intrinsic value?
Come on there is no logic at all in this, I agree with Doug.

[alvin]

C&R items can roughly classified into keeper, trader, and shooter.

Keepers do not trade frequently. The volume could but do not necessarily being very tiny, but they are not showing up very often. They usually demand some premium. Anything can be keeper, up to context. Traders are an important fraction on the C&R market. The one in the subject is a typical trader -- it's original, it's matching, but this category is frequently traded. They change from hand to hand fast. Shooter is a category out of topic. It's not uncommon to see people fighting for traders and could not wait next one.

It takes some years to figure out which one is keeper and which one is trader in a domain. I believe that varies from domain to domain. Sometimes, keeper could sell way under its intrinsic value, not frequently, but that happens too.

[sheepherder]

Originally Posted by Geo99

Am I missing something?

Many possible explanations...Could be father's/grandfather's bringback, that was disposed of by mother before son could object...he wants his dad's souvenir Luger back...

Could be a collector with strange collection of all-same serial numbers who needed a 1936 Mauser to add to his all-same serial number collection (this is not a wild idea; when I sold my Harley in Hemmings, I got a call from guy who only wanted that one serial number to add to his H-D collection)...

Could be collector with hole in his collection and who wants to see a 'complete' collection before he dies...

Could be shill buyer pumping up prices of 1936 Lugers...

...And Alvin and Eric have the most baffling posts on this forum...

[hayhugh]

Doug and Eric are mentioned but don't see posting?

[alvin]

Originally Posted by sheepherder

...And Alvin and Eric have the most baffling posts on this forum...

When we want to give credit to something, we can talk "intrinsic value". When we want to take credit away from something, we can talk "keeper/trader" difference

All are true. Depends on what you focus. Not only on C&R, on anything, that's the way it is. Back some years ago, I talked to a friend in Beijing while I visited him, his job was coordinating project bidding processes -- same, each vendor's advantage could be explored, and disadvantage could also be explored. That's eye-opening. Be honest, I am not good on this, otherwise, that job pays much better than my current one.

[alanint]

I post under "Alanint", Hugh.

Regards,

Doug

[kurusu]

What happened here?

Bottom line.

For unknown reasons someone paid too much for a gun(happened to be a Luger) in a online auction.

The rest is just chaff.

[alvin]

How about this one?

http://www.gunbroker.com/Auction/Vie...Item=543747087

I can understand some collectors don't care that much on condition, I collect some lower condition items too (scarce and rare ones, of course). but I could not understand why they cannot get this at much lower price. This variation has many samples in much better shape and in lower price. This price is way higher than Simpson, than RIAC, even higher than Julia!!! No kidding!! Even its $1000 starting price is high, let alone $2500. But that's the way it is on the market. Comparing with this, Simpson is selling guns dirt cheap.

For looking, this one is obviously not for looking. For shooting,,,, God knows, may be unsafe to shoot it. For parts??? The intention is very unclear.

Don't tell me it's bought by a collector who has everything but just miss this one. Impossible. Collectors start from common variations, going scarce and rare domain gradually. Not the other way around.

Shill buyer? Unlikely either.

That's the reason for the intrinsic value theory. That theory can explain this -- the intrinsic value of this gun is high. Market value can realize intrinsic value or not? Depends on many many factors.

[DonVoigt]

By Alvin:
"Don't tell me it's bought by a collector who has everything but just miss this one. Impossible. Collectors start from common variations, going scarce and rare domain gradually. Not the other way around."

Some collectors do start at the top - and only collect the top variations!

But more likely this one is an example of "auction fever" , or the "collector" has a Red 9 with serial on either side of this one- and will have consecutive pair; or collects junkers.

I can think of many silly reasons, but the most like is "stupidity".

[kurusu]

And me thinking this horse was dead.

[sheepherder]

Originally Posted by kurusu

And me thinking this horse was dead.

You must be thinking of MacDonald's hamburgers...Bet on them in the afternoon, eat them that night...