Luger values

[Matt]

I own two firearm price guides, "Blue Book of Gun Values," and "Standard Catalog of Firearms." Based upon my experiences, I feel the values in the Blue Book for Lugers, or any other collectible firearms, are low and the values in Standard Catalog are high. Any thoughts on this?

[Marvin]

Matt,


I have the same books and I agree with your observation. One big factor that cannot be taken into account in the books is the area of the country where you are trying to buy and sell. Different firearms sell for different prices in different area. This make the price guide books as that, just a guide. If you take the small pocket book by Davis, his prices seem VERY high compared to the other books. I have had Davis's book since it first came out and the prices he lists for a particular Luger is above what the highest dealers sell them for. I trust the two books you have to be the best on the market, but you must use your common sense and how bad you want the pistol as a factor.


What I don't like is to be at a gun show and a dealer pull out his book and say "look, the price of this firearms is worth $XXX.00, I am selling it for 20% less than that. You are getting the deal of the century". Go to another row and there is the same firearm selling for 50% less than the other dealer was asking and that is the going price in that area.


My opinion is to use the books as a guide, see what the highest price that is listed, see the other book with the lowest price and then come up with an average. Just remember, the prices listed in these books are retail, try to buy them for less as most dealers have approx. 30% profit at a minimum. Also, dealers must make a profit to stay in business, I just don't want to pay more than a pistol is worth. Just a few of my thoughts on this.


Marvin

[bill m]

Some of the authors of the "Blue Book" once told a friend of mine when asked a similar question, that the condition makes a terrific difference in value. Most do not list any value in the 99% and higher condition as original pieces in this condition are seldom ever found. There is a large difference in price on a 97% conditioned piece compared to a 98% conditioned piece, and so on and so on. The explanation given my friend was something to the effect that when they find an extremely nice conditioned piece, they wanted to be able to buy it, and be able to afford it, and, no one actually knows what it is worth. It is worth what someone will pay for it and that depends on just how bad they want it. Try to find another in that condition, and then ask yourself what is it worth.


I really do not think it matters a lot where you are located as to the going prices of guns now-a-days. I'm sure that some area's are bigger on civil war stuff than others, and some area's are bigger on Colt SAA than others, but there is always someone around looking. I feel the biggest difference in prices is how people rate or describe the firearms. A 98% gun to one person is a 90% conditioned gun to another, and a 95% to still another. Everyone selling would like their piece to be at the higher conditioned rating. How you rate it would directly affect the price asked for it. Just my thoughts.......

[Marvin]

Bill,


I like your response about the interpretaion on condition! I feel the percentage of blue is the best way over the Excellent, Very Good, etc., but one person's 98% may be another persons 90%. I have looked at photos from professional appraisers and sometimes I agree with their percent and sometimes I don't. The best way is to look at the pistol and you feel comfortable with the price, buy it! One good thing is that they should never go down in price and eventually the price always goes up. I figure when I pay more that I should, the enjoyment I get fromn the Luger makes up for the difference in price.


Marvin

[Matt]

One area of the Blue Book where I believe prices are low is in regards to condition. A code 42 Luger in 70 percent condition is listed as being worth $450 and a 60 percent condition is valued at $400. These are about the prices the current imports are selling for, and an original Luger in 60-70 percent condition is certainly more desirable than a recent import. But having said that,the Blue Book is an excellent resource and I buy it every couple of years. Also,I think some collectors get too picky about condition. Would anyone expect a pistol carried in combat to be in 99 percent condition?

[Marvin]

Matt,


Three Cheers for your comment on condition! I agree with you that sometmes we go a little "crazy" over a 98-99% pistol. Many of these in this condition do exist, but I bet they have never seen any combat, and worse yet, have they been "dinked" with to bring them back to this condition. I like Lugers in the 93-95% condition. At least they have been carried by someone. All my Lugers are not in this condition and they vary some from my worst one which is a 1936 and it was the second Luger I ever purchased and is the one that got me started with them. It is 60% at best, but in excellent mechanical condition. I have speculated that this was a pistol carried by a German veteran who was on a machine gun crew. The pistol has been taken care of, no pitting, very good bore, very good grips, etc, just a lot of blue wear. What a history this pistol could tell if it could talk. A few of my other pistols are in the low 90% range, but for the most part they meet my 93%+ condition. I have one 1938 which is 98%+ and is beautiful, but it probably does not have any real history and laid in a desk drawer somwhere.


My theory is; if you like the pistol and the price is not to bad, buy it and enjoy it!


Marvin

[Frank]

Hurray, Hurray. I think you make a good point. If you like it buy it (If you can afford it)!!

[BILL]

On the topic of Luger values, one other thing that I have noticed is that never has the value of Lugers, overall, gone down. So, if you are waiting for the depressed Luger ecomomy to come around, don't hold your breath..they aren't getting cheaper. On the other hand, as more and more businesses seem to be folding (Mr.Greenspan, are you reading this?) there will be good people desperate to trade 'iron' in for some folding green stuff. Regardless, if you can find it, and you like it, and you have the money..buy it, take care of it, enjoy it and pass it on to someone else to do the same.

[Bob Egan]

Luger values certainly are depressed in my home area and they are difficult to locate since this is a strong hold of anti-gun politicians who apparently are determined to disarm everyone but the local drug dealers. When I do find a Luger for sale, usually by a veteran or his descendant i will tell them the value of the piece but will not pay anywhere near the value, since the mere possession of the luger makes me a felon! Of course, classified ads are out, and people are very circumspect about even discussing their lpossession or interest in any gun around here. If I could obtain a license, I would, but such is not possible in this area, and I am a veteran and retired police officer who belongs to several civic organizations.So, if you are able to lawfully collect Lugers,be thankful for that, and support the NRA! What has happened to me could happen to you too!

[Rick K]

Gracious! Where do you live?

Rick K

[Marc]

Must be California.