Are luger values soft/low

B

BoogieMan

New member
I have a chance to get a Luger in beautiful condition with a period correct holster and 2 mags for $1100. I dont have a lot of info to offer other than it is marked with the eagle crest and it has blond grips. I wil go by tonight and get numbers and pics of marks.
I was looking on gunbroker and noticed that I can find many Lugers in similar condition between $1000 and $1500.
Is there anything that would make this a bad buy?
 
There was an "everything you want to know about Lugers" article in Shotgun News, a few issues back.
I think Luger values were at their peak, 30-40 years ago. Guns & Ammo magazine had a monthly column about Luger collecting, and the prices then were not much different than now, meaning they were actually much, much higher.
There was probably a bump in interest during the 50th anniversary of the end of WWII, when any- and everything associated with the war spiked in value.
There were a couple of different American Eagle models ("eagle crest"?), and in excellent condition, they're worth three or four times $1100. Refinished, with aftermarket (blond) grips, it will be devalued considerably.
While condition is always important to value, you can't compare the value of, say, a nice 1920 Commercial to a 1906 American Eagle in the same condition.
The latter will be worth two, three, or four times as much.
 
RickB- Are you saying that the blonde grips are a good indication of refinishing? This gun has a lot of discoloring from the case hardening intact so I didnt really suspect a refinish. Its been at this LGS for some time, that alone makes me skeptical. The tag is $1800 but the LGS says the owner will likely go for $1100. If its a refinish I dont want to pay more than $700ish as its not going to increase in value.
 
Yeah get some good pictures up soon. Including the magazines and holster which could be worth $250 apiece depending on authenticity, condition and scarcity. If so, and the Luger itself was only worth $800, well you see how it can add up. And make it worth buying even if the grips are aftermarket. On the flip side an $800 Luger could have aftermarket mags and holster worth less than $100. You really have to know exactly what you're buying when it comes to collectables.

I don't know what you mean by case hardening. Straw colored small parts?

And aftermarket grips could be added to any Luger, refinished or not. Sadly, millions of original grips have been tossed in the trash over the years because people think they're old and ugly.
 
I was just making a general statement. I'm unaware of any factory Luger with blonde grips, and if the gun were ALSO refinished, it would be a huge hit on the value. Grips are easy to change, and not necessarily an indication of anything else.

This gun has a lot of discoloring from the case hardening intact
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You mean the "straw" finish on the trigger, safety, take-down lever, etc? If that's intact, it's a good sign for the gun having original finish. Most refinished guns are overall blue.
 
I'm unaware of any factory Luger with blonde grips, and if the gun were ALSO refinished, it would be a huge hit on the value.
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Some Luger pistols, if in excellent condition, do have very light, yellowish-colored grips that the op possibly might describe as "blonde."

However, please explain what you mean by "eagle crest."
 
Collector prices have slumped in the last couple of years, along with the economy in general. But the value still depends on the gun.

Post WWII Mausers were made with the American Eagle marking and they don't bring big bucks. On the other hand, a GENUINE 1902 American Eagle "cartridge counter" (50 made) will easily bring upward of $40k, even in today's market.

Jim
 
Genuine, matching Lugers, with good holsters are easily worth the $1100 asking price.

If you want a good Luger, and one becomes available, buy it. There are a lot of Russian Captures coming on and off the market, they define the low end.

Even mis-matched shooters are bringing $750 and better.
 
I think every generation has it's "collectible gun", and when that generation gets to the point in their lives where they just have to have that gun because they have the money to buy it, values spike.


I know I'm over generalizing, but I see it this way:
Lugers were for the WWII generation
Colt SAA's were for those who grew up watching westerns
Pythons are the Baby Boomer grail gun.
WWI and WWII 1911's - crosses a few generations, because the 1911 is still popular today.
If Glock stops making guns, or fundamentally changes them, they will be the GenX collectible.
Millenials - probably whatever pistol is used most on popular video games.
 
I think every generation has it's "collectible gun", and when that generation gets to the point in their lives where they just have to have that gun because they have the money to buy it, values spike...
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Skans is right, but there can be overlap. When I was a kid I loved the pistols I saw on TV and the movies of the 1950s/1960: SAAs, 45ACPs and Lugers. When I was 25 and could afford it I got a P08, then soon after a Colt Series '70 Government Model. Later on a SAA replica.

Of those three, the popularity of the Luger seems to be waning as their fans get older and pass on, so that may soften today's price. I'm surprised that you can get a good shooter grade P08 for $800 today. Compare that to a genuine SAA or wartime 1911 of similar quality. Of course when you get to extremely collectible models, the sky's the limit for any of the three.
 
The big spike in Colt prices came in the 1950s and 1960s when a group of Texas oil tycoons got the "western" fever and started bidding against one another for anything connected with Texas and the Old West. That extended back to Colt Patersons and early Colts, as well as SAA's. Prior to that, the SAA was just an old gun that nobody wanted, and Patersons were, if not exactly cheap, still affordable without taking out a mortgage on the castle.

Jim
 
@Skans- I cant imagine anyone ever collecting Blocks. I hope im right. But just to hedge my bets I will be on the look out for a P-Diddy commemorative version in the stores.:eek:
 
Collecting "Breweriana" is a popular hobby. I have an old Brew 102 bottle on my reloading bench. Interesting history in breweries.
 
Ok, lets stick to the post and take the beer off line (as good as it sounds)http://thefiringline.com/forums/images/smilies/smile.gif

That said per the OP, the gun may well be more valuable if items are separated.

Good holsters can run $250 to %350 depending on condition and or any unit markings.

Lugers that have been repaired and do not have matching parts are shooters and something around $750.

Truly collectible, with all matching numbers, straw finish are still valuable and the value is increasing again (my take is they held but did not go up). So do not take that drop in value thing too seriously. Shooters went down, non descript went down but truly valuable ones did not.

And the best advice is if you really do have a matching number Luger, do not shoot it. Value drops dramatically.
 
Thanks RC. I think you have answered my question pretty well. If its a refinish its likely only worth the price I can get it for +-$1100. If it is pristine as it appears then I will likely destroy the value. Because, im going to shoot it. I dont believe in safe queens.
 
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