We all know that non-factory alterations can reduce the value of a collectible firearm. Aftermarket chokes, cutdown stocks, recoil pads and other “improvements” may have looked good in their day, but for the most part they leave today’s collectors cold. (How many Winchester Model 12s have you seen with those hideous adjustable chokes hanging off them?)
Recently, however, it was suggested to me that there might also be items or features that could add value to a given firearm. So true.
There are many factors that can be used to arrive at a price for a gun. Some reduce the price, some add to it. In fact, almost any of the factors I just mentioned that can lower the price can add to it as well. It really depends on the intended use for the firearm. Certainly, if you repair a broken gun to make it usable again, that will add to the value of that gun. It might hurt the value in the eyes of a collector or investor but not the hunter who wants a functional tool to use in the field. The collector probably would not have wanted that particular firearm anyway. If it was in need of repair it likely was not in good enough condition to appeal to discriminating collectors or investors. Thus it still comes down to the seller and potential buyer agreeing on a price.
Here, the, are just a few of the factors that can add to the value of a firearm:
Many add-on accessories and customizations found on firearms are there to make aiming the piece easier and increase the chance of hitting the target. After all, that is the ultimate use for any firearm. So, the holes that are drilled in the receiver of, say, a Winchester Model 75 bolt action .22 to allow the mounting of a scope might not hurt its value at all. In fact, if a hunter wants that model with a scope he will likely be more interested in it. Yes, it is still reduced in value to a collector, but the hunter’s cash is just as spendable. Of course, if a “gunsmith” drilled seven off-center holes in the receiver before he got four to match the mounts he had, the gun just looks bad. You can take a good thing too far.
When a rifle or shotgun is offered with a scope already installed, the value of the scope should be included in the overall value of the gun. How much are used scopes worth? I figure current production optics at about one third to one half of retail price when attached to a gun. That way, if the buyer does not want the particular scope they can negotiate a price reduction with the scope removed. Or they can sell it themselves and buy the scope that suits their needs. Older, out of production scopes have become collectibles in their own right. The long target scopes as made by Unertl, Fecker, Winchester and others can be worth hundreds of dollars. Some firearms manufacturers, such as Marlin and Mossberg, actually used to make their own scopes or had scopes made for them that had their name on it.
Many times I have bought a used Stevens or Mossberg .22 rifle with an old scope on it that is worth more than the gun. I suggest consulting the book Old Rifle Scopes by Nick Stroebel when attempting to price older optics. Always check the scope for damage if it is adding to the price of the gun. Make sure the optics are clear, glass lenses have no chips or scratches, crosshairs are intact, and adjusting knobs are working. Getting a broken scope fixed is possible but expensive. Original replacement parts are hard to come by.
In addition to scopes, metallic sights of several configurations will be found. The most popular of these is the tang sight. This is a peep sight that mounts on the tang or back of the receiver of many guns. These were frequently found on Winchester, Sharps, Remington, and other quality sporting rifles. The tang sights made by a gun manufacturer are especially desirable. Winchester-made sights are among the most valuable as collectibles. Other tang sight makers include Marble and Lyman.
Besides tang sights, there are peep sights that mount on the side of a firearm. These were offered by companies like Mossberg, Redfield, Williams, and Lyman. When a firearm is offered that has an older metallic sight, I refer the reader to the book Old Gunsights, also by Nick Stroebel. This fine book lists the metallic sights by maker and model number.
Some of the old aftermarket tang or peep sights required the gun to be drilled and tapped to install the sight. This sort of modification usually reduces the price of a firearm. On the other hand, a Winchester Model 1886 that has had its receiver drilled to install a newer Marbles sight might be worth less to some buyers, but if a period, i.e., vintage, sight is present it could add to the value. Depends on the buyer.
Fine engraving on a firearm definitely adds to its value. The amount of coverage can range from a fine highlight on the edges all the way to fully engraved hunting scenes complete with gold inlay. If the work is done by a known engraver, pricing the firearm becomes more akin to pricing a piece of art than a useful tool. As with a fine painting or sculpture, when a known engraver dies, examples of his or her work will skyrocket in price. Some gun makers offered engraving as a special order option on their products. The factory engraved Colts and Winchesters done in the late 1800s by artists such as Nimschke and Ulrich will bring several times their book value. Indeed, many books are devoted solely to this subject.
Engraving done by an amateur or unknown craftsman will be judged solely on its attractiveness on a particular firearm. If you are contemplating the purchase of an engraved firearm, look closely at the work. Some engraving I have seen was cut too deep and really did not look pleasing. Or there were errors in the pattern that the engraver tried to blend in. After all, an apprentice engraver had to perfect his craft somewhere. The “practice” pieces frequently were sold to buyers who did not spot the defects.
Sometimes the style of engraving may make a gun more (or less) attractive to a given buyer. For example, Germanic-style engraving, with its deep-cut oak-leaf patterns and dramatic portraiture, may turn off some buyers but attract others.
Walnut was the primary type of wood used to make factory gunstocks in America through the WW II era. The massive production of rifles for military use reduced the stands of available walnut trees and set the industry on a quest to find acceptable substitutes that cost less. In the 1950s, many of the less expensive firearms began being equipped with birch, ash or particle wood stocks. When a model that was once offered with a walnut stock is then sold with a cheaper kind of wood, the older walnut stocked models can bring a higher price. A good example of this is the Ruger 10-22 semi automatic rifle. When introduced in 1964, it sported a walnut stock. In the early 1980s a birch stock replaced the walnut. So a 10-22 with a walnut stock can be worth as much as $75 more than a recent birch stocked rifle.
The grain structure or pattern in nice walnut stocks can add a lot to the price of a long gun. When walnut stock blanks are sold to gun makers there is a grading system based on the attractiveness of the wood. They use terms like AAA or AA Fancy down to field or utility grade. Very desirable is a striped pattern in the buttstock. This can look like the stripes on a tiger or it might be a pattern of wavy lines of coloration. The finest grade AAA walnut stock blanks can be priced at over $1000 just for an unshaped wood blank. Imagine how much that finished stock would add to the value of a pre 1964 Winchester Model 70. It could quickly make that $750 rifle in to a $4500 rifle.
I have seen many mid-grade stocks on field-grade shotguns and rifles. Mid-grade walnut might have some tiger stripe pattern near the butt end but standard grain in the rest. These are fairly common so they don’t attract the high rollers who want the AAA fancy wood. There is no set way to calculate the additional value in stock appearance. It is a very subjective thing, attractiveness of a piece of wood. But it can add to the price of a gun for someone who likes it.
Any discussion of stock materials must also consider synthetics. Some synthetics can add significantly to the value of a gun. A Remington Nylon 66 .22 rifle with Seneca Green stock can bring twice as much as an otherwise identical model in Mohawk Brown.
Grip materials can also add to the value of a handgun. A S&W First Model .32 Hand Ejector with factory pearl grips can bring 50 percent more than an otherwise identical gun with hard rubber grips. In fact, in some cases factory pearls are worth more than the gun itself! None-factory aftermarket grips, no matter how nice, do not generally add to the value of a gun. Quite the contrary.
Previous ownership of a gun can also add significantly to its value. One of John Wayne’s Great Western revolvers, for example, can bring many times as much as a similar model owned by Joe Blow. But such enhanced value depends on the celebrity status of the previous owner. A Colt SAA owned by Mel Torme might not be particularly attractive to a younger buyer (“Mel Who?”).
Note that previous ownership of a gun always depends on provenance, i.e., the paper trail that proves such ownership. Without provenance, claims of previous ownership are merely talk, and worth about just as much.
Sometimes a gun is worth more merely because it was produced during a historically-relevant era. A Colt SAA whose serial number places it in the range of those used by the U.S. Army at the Battle of Little Big Horn, for example, is automatically more valuable than one outside that range. It doesn’t matter if it can’t be proven that the gun in question was carried during the battle–although that would be nice. The mere fact that it might have been significantly adds to its value.
Another item that will add to the price of an older gun is the original box and paperwork that came with a gun when sold new. On vintage Colts or Smith & Wessons a box and papers could almost double the price of the gun. Of course, the Commemorative guns as made by Colt and Winchester in the 1960s and 70s have to be unfired and have their boxes and literature to be worth full book price. Even utility grade firearms sold as recently as five or 10 years ago can be enhanced by having the box with them.
Finally, there are any number of add-on accessories that might come with a used gun that can add to the value for a prospective buyer: Slings, holsters, extra magazines, boxes of ammunition or brass, scope covers, bi-pods, cases, or any other accessory that was purchased and installed by the owner. All of these cost money. I frequently buy guns, then the owner brings in another $50 or 100 worth of stuff and says “here, these were with that gun.” Every little bit helps.
When acquiring or selling firearms, it pays to remember that not everyone wants a museum-quality collectible. Some want hunting guns, some want shooters. Some want guns from a specific period in history. Any factor that caters to any of these interests can add to the value of a gun – sometimes a little, sometimes a lot. *