Rock Island Auction and Parker prices

[Ruff Hunter]

Bruce,

I would agree with your points, though I think some of the sellers you mentioned may have just been putting on a brave face to encourage sales. The truly high condition Parker cream puffs with options and/or in the smaller gauges are still fetching high actual sale prices, and in some auctions I have seen, are selling for much more than the Blue Book would predict. But those are indeed the rare exceptions.

But with respect to the typical 12 gauge Parker in 70% or less condition, the Blue Book prices are currently far higher than any actual sales prices that I have observed in the last 3 years, which is why I won't bother buying the new edition of the Blue Book. For example, according to my (2011) 32nd Edition, a 60% VH in 12 gauge with extractors is listed at $3,500. Get real, Blue Book. That gun, properly photographed and auctioned on GB by a reputable seller would likely sell for about $1,500. That same 12 gauge in 60% condition with extractors in D grade is listed at $6,000....I mean, really? Can someone show me that auction please? The current auctions are proof positive that such a gun's fair market value tops out at around $2,500. In other words, for the commonly encountered Parkers on the market, being well over 90% in my view, the BB is more than double actual selling prices. And this is not to disparage Parkers in particular, as LC Smiths, Winchester 21s and Foxes in comparable condition have also suffered big sales price hits. Last year I purchased a 90% LC Smith Specialty grade with ejectors for $1,500. In 2007, you would have paid over $2500 for that gun in any auction; and believe me, I tried to buy one in enough auctions to know.

So with the limited exceptions that you've described, I do not think anyone seriously follows BB value when bidding on average collectible doubles these days. Many sellers obviously do still price by the book, which is why their guns aren't selling in auction after auction. That is not to say that I don't understand the frustration of collectors and dealers who bought in at high prices and now don't want to acknowledge that the floor has fallen out from under their feet. I too have a safe full of guns that I could not sell today for near what I paid for them 4+ years ago. But on the bright side, I also have some that I was able to purchase recently that I could not have afforded to buy 4 years ago. So in life, one must take the good with the bad, is all I'm saying. I just don't understand why, going on four consecutive and consistent years, the BB has not yet been updated to reflect this current reality, which may persist for years to come.

[Bruce Day]

Justin, good observations and a thoughtful post. I think Parkers are undervalued by reference to other guns of interest to gun accumulators. And maybe somewhat of a personal view is that the more we as individuals and as an association can do to encourage Parker acquisitions, to present this group as one that newcomers want to be a part of, to present the image of Parkers as a high quality gun and the PGCA as a high quality, gentlemanly organization, the more people will want to buy and be with us. People want to be a part of something that is uplifting.

I have been surprised about the volatility of the gun market. There are numerous examples, but one not associated with Parkers comes to mind. In the recent six months, French shotguns have been hot. Before that, they muddled along. There was a Shooting Sportsman article , a Double Gun Journal article, and then it was hard to find a French gun and prices increased dramatically. The power of advertising and group think among collectors was surprising to me. If we could tap into that with Parkers, well think of what could be. A few of us are trying to do our part and maybe people will see things in the coming year.

[Dean Romig]

Excellent observations guys, most of which I agree with from my experiences over the last two years.

[Ed Blake]

What I would add to this discussion is lower end guns (condition) provide excellent restoration opportunities. I have bought several of these over the past couple years that languished on the auction sites, but once cleaned up and some work put into them are very nice shooters that have filled various niches in my small collection. I keep telling myself "no more projects", but I tend to enjoy the process.

[Mills]

No lack of interest on the 8 gauge, apparently. Looks like my dream of owning one just got further away.

[Bill Murphy]

Mills, there is a big difference between two guns in vastly different configurations and conditions. There are $6000 eight gauge and there are $25,000 eight gauges.

[George Lander]

Any thoughts on what Annie's Parker will bring in the June 10th Heritage auction?

George

[Bill Murphy]

A bunch if the documentation is right, which it seems to be. Don't forget the second Annie Oakley gun to be sold in Colorado in June. I have not gotten any information on that one yet.

[Kevin McCormack]

What about the stunning 32" BHE 20 gauge all-scroll-engraved that was presented for sale at the Southern SxS for $38K? (Long walk back to the car). Et tu, 'Glitterati'?

[Rod N. Gunn]

If anyone has a "nice D Grade under $2000" please PM me. Unfortunately I don't have time to fly east for the auctions and "nice D grades" are as rare as Woodcock on the west coast.