Time magazine ran an interesting article on Wednesday about investing in fine double barrel shotguns:
“When the final hammer came down at the end of the December auction at Holt’s Auctioneers — which specializes in the sale of classic English shotguns — total sales had hit a record $2.72 million. Among the hot sellers: a pair of Purdey shotguns had sold for $131,200, while two guns made by Holland & Holland went for $128,000. “Those are impressive and reassuring figures,” says Roland Elworthy, a valuer at Holt’s…”
I have my doubts about the 3%-4% annual return quoted in the article. The info comes from an auctioneer, a person with an interest in furthering the idea that guns are sound investments. Personally, I don’t see guns as “investments.” I think they’re speculations, and a tough way to make money. It can be done, but it’s hard to do with the 15% – 20% most auctioneers tack on to the hammer price.
Gregg,
I’m surprised that the article didn’t mention James Julia’s auction house, but then he sells more than just shotguns in his firearm sales. His firearm sales typically exceed 10 million dollars per auction. Of note in the last auction was Teddy Roosevelt’s Fox which sold for $862,000 which set the record for American shotguns. http://www.jamesdjulia.com/firearms.asp#past
I also see where he charges 0% commission to the seller on expensive items. Seller’s commissions are often negotiable; it’s the buyer who gets hammered. I’ll get the word out on your blogs. I have enjoyed them but I still need the names of the foolish gunshops who sell guns too cheaply. 🙂
Yeah, and it’s also odd that he would take the auctioneer’s word on the value rising. The sales he pointed out could be outliers. To me, it looks like a lot of prices are actually coming down.