A Restored Lugers value question??

[Jasta2]

I do like the 1900 Lugers and was looking through the 'Simpson Ltd.' website and was surprised to find a 'Professionaly' restored 1900 AE, their #C8421, with a replaced bead type front sight selling for $4,500. Even being professionaly restored, as most think, would seriously drop a Luger's value no matter how well done and that $4,500 figure ( with a non stock front sight) is quite on the high side, correct? I considered my 1900 AE 'Test', professionaly restored by THOR, to have a value of only $,2,500 tops. Any thoughts?
Enjoying a beautiful string of bright sunny fall days here in New Hampshire!!
Bill

[drbuster]

Bill, it all depends on whether you are valuing a luger with respect to what you can get for it at a gun show versus what is being asked by a high end retailer such as SimpsonLTD. Somewhere, the "value" lies probably between the two as IMO, the low figure is what a dealer would offer a walk in seller, that is, the low basement price.

[Jasta2]

Please note: I am not looking for a dollar figure on my 1900 test in thinking of selling it. My $2,500 figure was for ins purpose. I was just surprised at the restored Luger's value at Simpson Ltd.
Bill

[DavidJayUden]

Then by all means, since you can document their price, use the Simpson figure and insure yours for $4500.
Bottom line is that all of these are worth exactly what someone is willing to pay. No more, no less.
dju

[SteyrAUG]

Originally Posted by DavidJayUden

Bottom line is that all of these are worth exactly what someone is willing to pay. No more, no less.
dju

Not really, it is what somebody is willing to sell one for.

If nobody is willing to pay more than $500 for a Luger, but nobody is willing to sell one for less than $1,000 then it isn't worth $500 because that is all anyone will pay, it is worth $1000 because you can't really find one for a cheaper price?

With things like Lugers and Ty Cobb baseballs cards, they are worth what a person who has one is willing to sell it for. The fact may be nobody can afford it or is willing to spend the money to own them, but if you can't buy one for $500 and it takes $1,000 to own one then that is what it is worth.

Now I'm depressed because I'm remembering the the $500 surplus Lugers from about 5 years back that are now all $1000.



I should have bought at least three. Those really didn't last very long.

[Edward Tinker]

Sorry, I don't get your analogy? It is essentially the same thing, but from a different disagreeing point. Why I don't get it is that there are a lot more lugers at $800 to $1000 than at $500, that actually do SELL; and whether in a recession, depression or high roller times, it is the buyer who is buying, so Davids analogy makes more sense to me.

Those folks who ask too much (just look at gunbroker), those sellers almost never sell at high end prices; unless a buyer comes along?

But there are always folks who want a luger and if I had 200 $500 lugers that were in nice shape, i could sell them all day long; but it is harder to sell 200 $1000 lugers, again, the buyer is the mix in the equation.

Ed

[mrerick]

I recently bought a Simson Luger that is in pretty good condition, except for having been salt blued.

It ended up bothering me enough that I've decided to have it properly restored.

Once restored, I would expect it to be worth less than one in original factory condition, but more than what I paid for it and hopefully at least the total amount I'll have invested in it.

Where it will end up in that range, I'll not know until it's sold - and that will probably be many years from now.

I'd like to know opinions of where it would be valued in that range - but I understand it's like comparing anjou pears to bartlett pears... Different tastes gather a different market...

Marc

[SteyrAUG]

Originally Posted by Edward Tinker

Sorry, I don't get your analogy? It is essentially the same thing, but from a different disagreeing point. Why I don't get it is that there are a lot more lugers at $800 to $1000 than at $500, that actually do SELL; and whether in a recession, depression or high roller times, it is the buyer who is buying, so Davids analogy makes more sense to me.

Those folks who ask too much (just look at gunbroker), those sellers almost never sell at high end prices; unless a buyer comes along?

But there are always folks who want a luger and if I had 200 $500 lugers that were in nice shape, i could sell them all day long; but it is harder to sell 200 $1000 lugers, again, the buyer is the mix in the equation.

Ed

You SLIGHTLY misunderstand what I am saying.

Sure there are plenty of folks selling a Luger worth $1000 for $2500. And you are correct, that doesn't make it worth $2500 because there ARE people selling them for $1000. But if NOBODY is selling one for any less than $1000 then it requires a $1000 to get one (even if nobody has $1000 to do it or is willing to pay that much) then they are worth $1000 because that is what is needed to get one.

And by the same token, IF somebody shows up and starts selling them for $500 they suddenly become worth about $500 because you CAN buy one with $500.

The point I'm making is if everyone is selling them for $1000 but nobody is willing to spend more than $100 to get one, they are not suddenly only worth $100 because you still cannot BUY one for that price. To get one requires $1000.

When it comes to limited market items, the key figure is what is somebody willing to sell it for. And that determines it's value. This is also why some things are priceless, it isn't a matter of nobody can afford them, nobody is willing to sell it, even IF Donald Trump was willing to write the check.

So what the owners is willing to accept for it is the key point in determining value and worth, what a buyer is willing to pay is irrelevant if the owners doesn't "need" to sell it.

That also explains a lot of the gunbroker prices. Many of them don't "need" to sell it, they are "willing to sell it" IF somebody is willing to pay that price.

And again, IF somebody DOES need to sell it and are willing to take less than the going rate they will temporarily devalue every other similar item for so long as that situation persists. And if you get enough of them (as in the case of those cheap import Lugers years ago) you can drop the value of that item by half.