Thank you all for your thoughtful answers. Most seem to feel it's very subjective and each gun should be considered as an individual. I'm still left wondering "what is this gun worth"?
What do you guys think about the way the Blue Book of Gun Values uses the PPGS (Photo Percentage Grading System)? The author and publisher says, " Condition factors pictured (indicated by PPGS-o-meters), unless otherwise noted, refer to the percentage of a gun's remaining finish(es), include blue, case colors, nickle, or another type of original finish remaining on the frame/receiver. On older guns, describing the receiver/frame finish is absolutely critical to ascertain an accurate grade, which will determine the correct value. Additional percentages of condition may be used to describe other specific parts of the gun (i.e. barrel, wood finish, plating, magazine tube, etc.) ... Being able to spot original condition has never been more important, especially when prices get into four, five, and six figures. Remember, the price is wrong if the condition isn't right!"
Then when describing a refinished Parker DHE hammerless SxS he says after an explanation on p 97: "If this gun was all original, and in 95% condition overall, its value would be $11,500-$13,500 range (and easy to sell!). This non-original DHE in this type of refinished condition would probably be valued in the $3,250-$4,000 range, or less than half of an original.
So he is deducting 50% for the refinish. Sound right to you guys?
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