Rock Island Auction Company's (RIAC) Premiere Firearms Auction held Dec. 5 to 7 proved to be quite an exciting and successful weekend. In fact, it seemed rather appropriate that the auction taking place in the shadow of the Black Friday shopping weekend would be a buzzing, competitive, and fast-paced affair. At the end of the three days, the auction would achieve $11.4 million in sales, bringing the annual total for 2014 to $47.5 million for the firearm specialty firm.
The first day set the trend for the whole weekend's bidding battles as collectors aggressively sought to procure their favorites in several categories. Of note was the competition for high-end Ithaca shotguns. Single barrels and side-by-sides in a wide variety of calibers and special order features could not be had quickly enough, like the engraved gold and silver inlaid 7E grade single barrel in Lot 400 that sold for $8,050 or the scarce Field Grade ejector hammerless side-by-side 28 gauge in Lot 660 that would exceed its high estimate and realize $6,325 (all prices include buyer’s premium).
Also making a splash on day one was the Charter Arms revolver used in the assassination attempt of Governor George Wallace in Lot 499, which brought $28,750, and a custom engraved Civil War Colt 1860 Army in Lot 175 with a factory letter detailing its original shipment to the New York Arsenal. With a high estimate of $4,500, the percussion revolver sold for $19,550. Other Colts also sold quite well on Friday, including the gold plated, factory engraved Third Generation SAA in Lot 444 that more than doubled its $6,500 high estimate to sell for $13,800 and the J.P. Lower & Sons shipped black powder Colt SAA in Lot 232 with its accompanying research. The latter sold for $6,900.
Day two began with a host of Winchesters, Volcanics, and Henrys, with strong bids leveled immediately at firearms like those in Lot 1043, a magnificent, deluxe special order Winchester Third Model 1873 lever action with brilliant case hardening that realized $149,500. Lot 1017 was an exceptional factory engraved New Haven Arms Volcanic No. 1 pocket pistol, which exceeded its high estimate of $18,000 en route to a $25,875 selling price. Likewise, an outstanding pre-war, factory engraved Colt SAA with carved pearl grips in Lot 1323 breeched its high estimate and left for a new collection for $51,750.
Other highlights from day two were the historic "C Company" Colt Walker contained in Lot 1270, which reached a price of $172,500; the previously undiscovered deluxe, panel scene engraved Colt Model 1855 revolving shotgun in Lot 1277 achieved $138,000; and the exceptional Civil War production Henry rifle in Lot 1044 that sold for $86,250.
The end of Saturday was quite a surprise to everyone in attendance. As Colt "Snake Guns" began to cross the block. Every phone line was filled and online bidders began to make their presence felt as numerous collectors scrambled to own one of the popular revolvers. A special R. L. Wilson special order Colt Python in Lot 1789, with a high estimate of $4,500, brought in a sale price of $11,500. Another Python, this time a scarce, inscribed, three-inch barrel Combat Python with its original box in Lot 1792, went even higher to sell for $12,650. Numerous Pythons, Anacondas, Cobras, and Diamondbacks would exceed the $5,000 mark and many surpassed the $10,000 mark. It could indicate an interesting market trend for those who collect these revolvers.
After Saturday's blitz on Colt double action revolvers, it would hardly be a surprise to see them do well again the following day. However, the success of double actions initially came from another source, Colt Model 1877/78 Lightnings and Thunderers, led by the William Baird collection. Lot 3268 had a rare Lightning chambered in .32 Colt with a high estimate of $11,000. That number mattered little to the collectors at the RIAC facility, and the diminuitive revolver was eventually purchased for the price of $25,875. Similarly in Lot 3282, a Colt Model 1877 Target chambered in .32 S&W was estimated between $12,000-$18,000, but determined bidders drove the sale price to $31,625.
Much like the first day of the auction, high-end sporting shotguns continued to be a sought after commodity by collectors, hunters, and investors. Lot 3453 saw its antique Parker Brothers Under Lifter side-by-side, Damascus barreled, 8-gauge shotgun powder its $9,000 high estimate to sell for $14,950. While a majority of these guns exceeded their high estimates, Lot 3461 did so in impressive fashion. The engraved and gold inlaid Ithaca Grade 7E double box lock shotgun broke the bounds of its $7,000 high estimate on the way to its final figure of $13,800.
The Edged Weapon collection of Maj. Gen. Theodore Paulson also achieved some attractive prices. Lot 3329's etched and gilt-accented German presentation sword cut through its $3,000 high estimate to bring $5,175, and Lot 3445's simple-looking yet scarce Hoerster production Hitler Youth Leader's Dagger beat its $1,600 high estimate to sell for $4,312. The swords were stunning and many were masterpieces of design and craftsmanship, but like the end of the day Saturday, things really began hopping again when the Colt DA revolvers started crossing the block. A 1956 production Colt Python in Lot 3790 would climb to a $5,462 sale price, another Python in Lot 3777 would see ascending bids ending in a $4,600 sale, and a Colt Viper with its original box in Lot 3786 sold for $4,312.
It was a very dramatic end to 2014. Some genres such as early and pre-Winchesters, further cemented their dominance as one of gun collecting's iconic brands, while also proving to remain an excellent investment opportunity. Others, such as the Ithaca brand shotguns, while needing no introduction to seasoned shooters, began to make some noise a bit more audible to the public at large. The surge enjoyed by modern Colt double action revolvers and "snake guns" had collectors beside themselves at the end of the auction and discussing the explosive new growth. Will these trends continue or will other new interests by collectors and investors emerge to take the scene?
Rock Island, located in Illinois, will hold it’s first four-day sale on Feb. 19 to 22. The Rock Island-based company is located west of Chicago. They have a 86,000 square foot facility and host five large sales each year.
For more information, call 1-800-238-8022 or visit www.rockislandauction.com.