The Old Fuff has worked both sides of the street for fun and profit.
In evaluating a purchase I ask myself, “does it have any potential as a collectable, and if so, how much.” Having done my homework I look at what it is, what condition is it in, and do I have anything else where the sum of the two pieces would be more then their individual value. At the same time I’m thinking, “as a shooter, how good would it be?” In many cases to be collector grade the gun must be like new, and new-in-the-box is even better. If that is the case, and I choose to buy it, it will become a safe queen, and I will eventually sell it for more (sometimes much more) then I paid for it. Here the object is to make money – that can be turned around to buy more guns. Money may be evil, but it’s handy to have around.
On the other hand, if the gun has little or no collector’s value, and is unlikely to ever have, at least in my lifetime, then it will be evaluated as to its prospects as a shooter. I often look for guns that have problems that I can fix, but be purchased at a substantially reduced price. When it comes to being a tightwad nobody, and I mean nobody can beat out the Old Fuff. In this context new guns seldom interest me because they represent paying the most for the least. I can do much better buying like-new used ones, or damaged goods that I can repair.
Two examples: Recently I won at auction, a Colt Police Positive revolver chambered to use everybody’s favorite cartridge – the .38 S&W (not Special). Not exactly a hot collectable, and certainly not a likely shooter. Had the Old Fuff lost his mind? Well not quite...
The gun was to all appearances unfired, with at least 99% of its original finish. The serial number indicated it was one of a handful that were assembled in 1942 during World War Two. Given its condition and the story behind it I can probably double my investment.
About the same time I picked up an S&W K-38 Masterpiece for peanuts because it only had about 70% of the original finish, look doggy, and had aftermarket rubber grips. Shoots like a house afire though. Tight as a bank vault and a first class tack driver. The grips were quickly taken care of, and the missing finish doesn’t matter.
Like I said, the Old Fuff works both sides of the street...