Colt Handgun Fetches Nearly $1 Million - NBC 5 Dallas-Fort Worth

Colt Handgun Fetches Nearly $1 Million

Complete auction lots garner $3.28 million



    Colt Handgun Fetches Nearly $1 Million
    Heritage Auctions
    The revolver is the finest known surviving example of Samuel Colt’s first revolver, produced by the legendary gunsmith in Paterson, N.J. in 1836, according to Heritage Auctions.

    by Bruce Felps

    Someone identified only as “Silicon Valley mogul” certainly has a thing for rare handguns.

    Mr. or Ms. Mogul won a Heritage Auctions, well, auction Sunday and holstered an 1836-vintage Colt revolver for a cool $977,500

    The bid set a world record for an auction price paid for a single firearm, according to the Heritage press release, and who’s to argue?

    The entire package of four lots of near-mint — there’s the key — Colts, part of the Al Cali Collection [shrugging shoulders], fetched $3.28 million.

    The set included a Colt Blah-Blah, a Colt Mumble, a Colt What’s-it, and a Colt Thingy. Hey, what do I know from guns?

    Anyway, the auction proved, according to Greg Martin, president of Arms & Armor at Dallas-based Heritage Auctions/Greg Martin Auctions, that, “Prices like these, which show that craftsmanship, rarity, beauty, and historical importance bring a true premium, also show that serious buyers know that pieces like these are real investments, certain to appreciate in value as the years progress, and certainly worth serious consideration when it comes time to bid.”

    Here’s wishing that all handguns cost so much.

    Bruce Felps owns and operatesEast Dallas Times, an online community news outlet serving the White Rock Lake area. He got a traffic ticket once and the officer thanked him for being courteous. He’s always polite to someone with a gun.

    The views and opinions expressed here are those of the author and do not necessarily reflect the views of NBC, NBC 5, or its employees.