New to me pistol---but a dilemma

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FROGO207

FROGO207

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So recently a friend of mine brought over this pistol to look at. She said it was previously her son's. The idiot ended up in jail for drug related charges a while ago. He owed his mother some money so having to get rid of his firearms anyway he signed them over to her. She asked me if I wanted to buy it. I researched it some. It is a Colt Government model, 5" National Match barrel in 38 Super. Deep blued with gold accents. It has never been fired and she has the paperwork to show me that it is not stolen and hers legally. I research prices and come to a cost of $2350.00 as a fair price. She agrees and I buy it. After thinking it over and having used money that I had not planned on using while now on fixed income thinking about reselling it to get my money back. It remains unfired as he could apparemtly not find any ammo for it this last year. Decisions, decisions! Should I keep it or sell it while prices are up there. I refuse to own a safe queen, if I keep it it will be used and a fair amount at that. Already have the dies, just need a shell holder and brass LOL. 20210920_172341.jpg 20210920_172414.jpg 20210920_172428.jpg 20210923_122153.jpg
Pictures for you.
 
I'm a long time 1911 guy, and I love a well worn 1911. Tiger McKee's 1911 is one of my favorites https://shootrite.wordpress.com/2010/09/19/1911-modifications/

On the other hand, what you have is a glamor 1911. If I owned that, I'd have it in a display case. However, I have no use for a display case 1911 and if I could get $2,300 for it, I'd sell it.
 
It's sure purdy! And I like 1911 38 Supers a lot.
However, I think I'd sell it because I don't like safe queens either, and I'm afraid that's all it would be to me. I'd rather have a 1911 38 Super that I would use.:)
 
You could certainly get $3000+ , IF you could get it into Mexico to the right person :)

Seriously it is good to have a crowning show piece in your collection. An odd figure you gave for it, I would have given a little less given the circumstances; certainly not over $2000 . The roll engraved type "commemoratives" are slow movers generally, but the Prancing Pony will always sell.
 
Just one old guy's opinion, but if you can live without getting the money back, I'd keep it, take care of it but shoot the dickens out of it. I like pretty guns, like carrying and shooting pretty guns, and everyone needs at least one 1911 in .38 Super. And if you get down Texas way, you got yerself a barbeque gun that'd look right purdy in some hand-carved floral leather (shameless plug for El Paso Saddlery inserted) ...
1930-Austin-Holster.jpg
 
While I can appreciate the cosmetic beauty of that pistol, it does not "speak to me" because I'm not really a collector. I'm a user and my pistols look rather utilitarian. I spend my time, effort, and money making the insides as mechanically perfect as I'm able to. If it were mine, I would sell it and spend a portion of the proceeds getting a plain Jane looking .38 Super that I could turn into a 100% reliable, dead nuts accurate shooter.

But that's me. I advise you to reflect upon whether or not there is anything you might want more than this specific pistol. If you can't think of anything, there's your answer.
 
Gordon said:
The roll engraved type "commemoratives" are slow movers generally, but the Prancing Pony will always sell.
Click to expand...

I can't tell by looking at the photos but if you're right and the "engraving" is rolled (as most commemoratives typically are) as opposed to being actually engraved, the interest (and value) will take a steep nosedive; at least for me and, I suspect, for most serious Colt collectors. Still a nice looking pistol and probably worth close to what the op paid but, as you said, commemoratives address a narrow niche market and it can be hard to find a buyer in a relatively short period of time.

Interestingly, in perusing several pages of Colt commemorative pistols listed in the Blue Book of Gun Values (41st edition), I could find none chambered in .38 Super.
 
You are at the point where its all one way or the other. NIB unfired? One round down the barrel and it depreciates. You lose a chunk of the maximum value it can generate.

Keep it and shoot it goes to any favoritism or appeal you might have with it, an entirely emotional assessment. Me, I would take ANY Hk P7 over a presentation grade 1911 but I will never have the money to make the choice, and I know that it's functionally way overvalued. An other working 9mm or .45 would result in the same thing - a horribly butchered birthday cake.

Or maybe some holes in a paper target.

I don't see spending an extra $1000 to accomplish what a $499 Micro 9 auto can do. So, I'd sell it - consigned, Gunbroker, whatever you are comfortable with.
 
I had one years ago. It was a user not a show piece. I loved it, but as arthritis started to set in a smaller pistol with less recoil became a need. Being 79, I am on a fixed income that does not keep up with the new current rate if inflation. If that were not the case I would buy it. But $2300 is just to much for me these days, and I do not sacrifice needs and affordable wants for a gun that thrills me.
 
Like I said , about 25 years back and longer one could take a 1911 Super like that and put a set of these grips on it and stick it inside his door panel well wrapped and easy get $5000 ! Only US law broken would have been Exporting Firearms without a Dept. of State license which was not prosecuted unless you were a big time player. Now on the other side you were facing REAL BAD mojo from the LE and Govt. But it would make a Cartel Hefe very proud, Amigo ! :)

24381023_1.jpg
 
Years ago, like in the 1980's and 1990's, 38 Super 1911's were about as rare as hens teeth. i'd say, keep it and shoot it.

Now a days, 38 Super 1911's are not so rare, even NM Gold Cup factory versions. I have a couple purchased over the past few years before the idiocy panic buying. I'd try to find a buyer to get your investment back with maybe a bit of a profit.
 
Sell it now while people are still spending crazy amounts of money just to have a piece like that. People love eye candy like that.
 
I have had dies and brass for over a decade looking for a 38 super but haven't found one that struck me. In your situation, I'd shoot it. If it turns out you overpaid, well at least you helped your friend and his mom out. That's not so bad in my book.
 
Pretty guns are nice to look at but I have never had much use for a display gun. I would sell it and get a really nice 1911 shooter. I love 1911's but all that bling doesn't make it shoot any better.
 
Every 38 Super I've ever had and sold (4-5) were to someone in Texas .... There's a real good market for them there.
If you invest in a $200 set of shiney BBQ grips you'll easily make a few bucks selling it.
I still have a RIA FS one, it's a shooter
 
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