George Lugers' 45 Purpotedly Up For Auction

cirelaw · 03-12-2010, 10:16 AM

On Greg Martins' auction site

alvin · 03-12-2010, 06:49 PM

WTS: GMA beautifully printed catalog (new condition) with this gun on the front cover, detail description inside. Claimed being $65 value (probably the printing cost?). $50 shipped to 48 states.

If you love this gun, don't miss this oppertunity

tomaustin · 03-12-2010, 08:17 PM

...

drbuster · 03-12-2010, 11:19 PM

$320,000 now. It's supposed to go (if reserve is met) on Sunday, March 14th.

cirelaw · 03-13-2010, 10:03 AM

Besides the calibre and initials, were there any other differences between this Luger and other made around this time? If this was he rarest, what was the second rarest? Did Grandpa George handmake the ammunation and does and spare rounds still survive?

SteveM · 03-13-2010, 10:07 AM

Probably the GL marked Baby Lugers. IIRC there were only 2-3 of them also. Of course I could be wrong.

alvin · 03-13-2010, 10:50 AM

Regardless whatever, only 3 (?) of these were made, it's rarer than mass produced Colt SAA or Winchester rifles which carries big ticket price all the time. Rarity is only part of the story, there are many rare guns but not many people care, but this one is different -- Luger is the leading popular C&R pistol. Let's see where it will go. Not far away, tommorrow.

====

Assume a 90% TE is $5k. I don't know, probably $6k. This one is 333 times rarer. 5k x 333 = 1665k, or 1.665M. But the market is not a linear system.

lew1 · 03-14-2010, 08:39 PM

It sold for $430,00 plus the bidder charge.

(I hope that was above any reserve.)

alvin · 03-14-2010, 09:05 PM

$430,000 x 1.15 = $494,500

Watched on sideway. Reserve met. Still much cheaper than "Colt Walkerman"......

saab-bob · 03-14-2010, 09:07 PM

So I guess it has to be called the "Half Million Dollar Luger" now

Maybe it was the chipped grip.

Somebody lost some money on that gun.

Bob

alvin · 03-14-2010, 09:17 PM

Yeah. Lesson learned -- if cannot keep a gun, then don't buy it. Selling is OK, but cannot do it in big hurry. Must take this attitude: sold? that's good. No? Not a big deal, keep it. Otherwise, don't buy it at the beginning. Collectors in this domain play at 3 to 6 digit price range, but the principal should be same across the board, IMO.

lew1 · 03-14-2010, 09:35 PM

Two reason to buy an expensive one

1 - for enjoyment.
2 - for a profit.

#2 is a gamble.

Rbrooks45 · 03-15-2010, 12:46 PM

You forgot the 3rd reason, "Because I can".... Wish I could fall in that category.

alvin · 03-15-2010, 04:13 PM

Or, 4th category, "Because I love losing money, don't lose money I don't feel comfortable. You can label me as mental sick, that's it"

One guy coming back from Casino in CT said so. Gambling was his hobby. We scratched our heads trying to understand what type excitement could be found in losing $70k in casino. Not understandable for normal people. Probably like taking opium.

nhdblfan · 03-15-2010, 06:15 PM

There are many,even with the recent bounce,in the same boat investment wise as the luger seller with the biggest casino in the world- the NYSE ! At least he got to enjoy the "investment" hands on !

Jasta2 · 03-17-2010, 09:56 AM

Thought there would have been some real serious comment on this sale seeing the .45 cal Luger is the "Holy Grail" of Luger collecting. Well, to advanced collectors at least. "Well Healed" advanced collectors at that. So this $1,000,000 Luger sold for under $500,000. As stated someone lost some big time money. Would this 50% loss in value reflect also in other hi end Lugers? Or maybe this is something across the board in all hi end guns. I take the buyers of such six figure guns are most likely investors rather than gun collectors. Hopping to turn a buck. Just look at Barrett-Jackson auto auctions 60's muscle cars selling for $100k+ only for the car to be at auction again within a year. There to with sometimes a reduction in value. I review a few hi end auction sites and it looks as if alot of other big dollar firearms are showing up for auction,like one from Custer's last stand. Selling to make money? or selling before the auction prices keep dropping as the maybe $500k loss someone took on the .45 cal Luger.Who knows where the people with the big bucks will invest, stocks,cars guns?
Bill

Norme · 03-17-2010, 11:05 AM

Hi Bill, I think that, guns like the Aberman, are so far removed from the experience level (by about two decimal points) of most Luger collectors, that few feel qualified to comment on the sale price. I very much doubt whether the buyer, or the seller, were Luger collectors as we know them. Regards, Norm

cirelaw · 03-17-2010, 11:09 AM

Bill, You hit the nail right on the head. It matters not whether it sold for a million or or not! Do we really own anything? In law school contracts, first year that we are taught that we really own nothing!! Ownership is mearly a right of posesssion. Who ever purchased this gun was purchasing the right to posess it until he relinguises ownership either through sale or gift or stolen. So basically we must protect our right of posession from the rest of the world and decide to whom we wish it to pass. Its Price has really nothing to do with it Mearly a meeting of the minds!!

Jasta2 · 03-17-2010, 12:57 PM

Cirelaw,
"Right of posession" "Right"? Whose Right? Given by whom? Another topic all together! A 'right' to health care, a 'right' to education, a goverment given 'right' for whatever fits the current administration purpose. MM?? Gun ownership is slowly looking going from a 'right' to a 'wrong'. Thank goodness we still have the surpreme court! Sorry for the soap box speach. I fully understand this is the wrong place for this and if the forum moderator removes this post I will understand.
Bill

Aaron · 03-17-2010, 06:56 PM

Those of us who were present at the auction were amazed and disappointed to see the gavel come down on such a low price. It took barely five minutes to auction off this piece, and there was very little competitive bidding. You can probably add 8% sales tax if the bidder was an ordinary buyer. At least one thing came out of it: This pistol brought a record price for a Luger sold at auction.

03-12-2010, 10:16 AM	#1
cirelaw Lifer Lifetime Forum Patron Join Date: Dec 2003 Location: PORT ST LUCIE, FLORIDA Posts: 12,216 Thanks: 6,209 Thanked 4,133 Times in 2,173 Posts	George Lugers' 45 Purpotedly Up For Auction On Greg Martins' auction site Attached Thumbnails

03-12-2010, 08:17 PM	#3
tomaustin Lifer X5 Lifetime Forum Patron Join Date: Sep 2008 Location: texas Posts: 708 Thanks: 87 Thanked 522 Times in 201 Posts	it is already at $250,000...bid it up boys..... ...

03-14-2010, 08:39 PM	#8
lew1 Lifer Lifetime Forum Patron Join Date: Aug 2002 Location: Kentucky Posts: 1,108 Thanks: 82 Thanked 204 Times in 112 Posts	It sold for $430,00 plus the bidder charge. (I hope that was above any reserve.) __________________ charlie

03-14-2010, 09:07 PM	#10
saab-bob User Join Date: Jul 2009 Location: So Cal Posts: 459 Thanks: 774 Thanked 143 Times in 87 Posts	So I guess it has to be called the "Half Million Dollar Luger" now Maybe it was the chipped grip. Somebody lost some money on that gun. Bob __________________ "I think,therefore I own guns"

03-14-2010, 09:35 PM	#12
lew1 Lifer Lifetime Forum Patron Join Date: Aug 2002 Location: Kentucky Posts: 1,108 Thanks: 82 Thanked 204 Times in 112 Posts	Two reason to buy an expensive one 1 - for enjoyment. 2 - for a profit. #2 is a gamble. __________________ charlie

03-12-2010, 06:49 PM	#2
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	WTS: GMA beautifully printed catalog (new condition) with this gun on the front cover, detail description inside. Claimed being $65 value (probably the printing cost?). $50 shipped to 48 states. If you love this gun, don't miss this oppertunity

03-12-2010, 11:19 PM	#4
drbuster User Join Date: Jun 2002 Location: San Mateo, California Posts: 1,432 Thanks: 2 Thanked 71 Times in 56 Posts	$320,000 now. It's supposed to go (if reserve is met) on Sunday, March 14th.

03-13-2010, 10:03 AM	#5
cirelaw Lifer Lifetime Forum Patron Join Date: Dec 2003 Location: PORT ST LUCIE, FLORIDA Posts: 12,216 Thanks: 6,209 Thanked 4,133 Times in 2,173 Posts	Besides the calibre and initials, were there any other differences between this Luger and other made around this time? If this was he rarest, what was the second rarest? Did Grandpa George handmake the ammunation and does and spare rounds still survive?

03-13-2010, 10:07 AM	#6
SteveM User Join Date: Jun 2002 Location: Texas Posts: 1,016 Thanks: 94 Thanked 275 Times in 137 Posts	Probably the GL marked Baby Lugers. IIRC there were only 2-3 of them also. Of course I could be wrong.

03-13-2010, 10:50 AM	#7
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	Regardless whatever, only 3 (?) of these were made, it's rarer than mass produced Colt SAA or Winchester rifles which carries big ticket price all the time. Rarity is only part of the story, there are many rare guns but not many people care, but this one is different -- Luger is the leading popular C&R pistol. Let's see where it will go. Not far away, tommorrow. ==== Assume a 90% TE is $5k. I don't know, probably $6k. This one is 333 times rarer. 5k x 333 = 1665k, or 1.665M. But the market is not a linear system.

03-14-2010, 09:05 PM	#9
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	$430,000 x 1.15 = $494,500 Watched on sideway. Reserve met. Still much cheaper than "Colt Walkerman"......

03-14-2010, 09:17 PM	#11
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	Yeah. Lesson learned -- if cannot keep a gun, then don't buy it. Selling is OK, but cannot do it in big hurry. Must take this attitude: sold? that's good. No? Not a big deal, keep it. Otherwise, don't buy it at the beginning. Collectors in this domain play at 3 to 6 digit price range, but the principal should be same across the board, IMO.

03-15-2010, 12:46 PM	#13
Rbrooks45 User Join Date: Feb 2010 Location: Germany Posts: 66 Thanks: 0 Thanked 1 Time in 1 Post	You forgot the 3rd reason, "Because I can".... Wish I could fall in that category.

03-15-2010, 04:13 PM	#14
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	Or, 4th category, "Because I love losing money, don't lose money I don't feel comfortable. You can label me as mental sick, that's it" One guy coming back from Casino in CT said so. Gambling was his hobby. We scratched our heads trying to understand what type excitement could be found in losing $70k in casino. Not understandable for normal people. Probably like taking opium.

03-15-2010, 06:15 PM	#15
nhdblfan User Join Date: Aug 2006 Posts: 17 Thanks: 0 Thanked 0 Times in 0 Posts	There are many,even with the recent bounce,in the same boat investment wise as the luger seller with the biggest casino in the world- the NYSE ! At least he got to enjoy the "investment" hands on !

03-17-2010, 09:56 AM	#16
Jasta2 User Join Date: Jan 2008 Location: Lakeland, Fl. Posts: 514 Thanks: 349 Thanked 101 Times in 52 Posts	Thought there would have been some real serious comment on this sale seeing the .45 cal Luger is the "Holy Grail" of Luger collecting. Well, to advanced collectors at least. "Well Healed" advanced collectors at that. So this $1,000,000 Luger sold for under $500,000. As stated someone lost some big time money. Would this 50% loss in value reflect also in other hi end Lugers? Or maybe this is something across the board in all hi end guns. I take the buyers of such six figure guns are most likely investors rather than gun collectors. Hopping to turn a buck. Just look at Barrett-Jackson auto auctions 60's muscle cars selling for $100k+ only for the car to be at auction again within a year. There to with sometimes a reduction in value. I review a few hi end auction sites and it looks as if alot of other big dollar firearms are showing up for auction,like one from Custer's last stand. Selling to make money? or selling before the auction prices keep dropping as the maybe $500k loss someone took on the .45 cal Luger.Who knows where the people with the big bucks will invest, stocks,cars guns? Bill

03-17-2010, 11:05 AM	#17
Norme Always A Lifetime Forum Patron Join Date: Jul 2009 Location: Colorado Posts: 2,416 Thanks: 225 Thanked 2,595 Times in 932 Posts	Hi Bill, I think that, guns like the Aberman, are so far removed from the experience level (by about two decimal points) of most Luger collectors, that few feel qualified to comment on the sale price. I very much doubt whether the buyer, or the seller, were Luger collectors as we know them. Regards, Norm

03-17-2010, 11:09 AM	#18
cirelaw Lifer Lifetime Forum Patron Join Date: Dec 2003 Location: PORT ST LUCIE, FLORIDA Posts: 12,216 Thanks: 6,209 Thanked 4,133 Times in 2,173 Posts	Bill, You hit the nail right on the head. It matters not whether it sold for a million or or not! Do we really own anything? In law school contracts, first year that we are taught that we really own nothing!! Ownership is mearly a right of posesssion. Who ever purchased this gun was purchasing the right to posess it until he relinguises ownership either through sale or gift or stolen. So basically we must protect our right of posession from the rest of the world and decide to whom we wish it to pass. Its Price has really nothing to do with it Mearly a meeting of the minds!!

03-17-2010, 12:57 PM	#19
Jasta2 User Join Date: Jan 2008 Location: Lakeland, Fl. Posts: 514 Thanks: 349 Thanked 101 Times in 52 Posts	Cirelaw, "Right of posession" "Right"? Whose Right? Given by whom? Another topic all together! A 'right' to health care, a 'right' to education, a goverment given 'right' for whatever fits the current administration purpose. MM?? Gun ownership is slowly looking going from a 'right' to a 'wrong'. Thank goodness we still have the surpreme court! Sorry for the soap box speach. I fully understand this is the wrong place for this and if the forum moderator removes this post I will understand. Bill

03-17-2010, 06:56 PM	#20
Aaron Banned Join Date: Jun 2002 Location: Vista, CA Posts: 1,008 Thanks: 0 Thanked 9 Times in 9 Posts	Those of us who were present at the auction were amazed and disappointed to see the gavel come down on such a low price. It took barely five minutes to auction off this piece, and there was very little competitive bidding. You can probably add 8% sales tax if the bidder was an ordinary buyer. At least one thing came out of it: This pistol brought a record price for a Luger sold at auction.