Dear Guys,
I have been studying the 1851 Colt Navies for about a year and have gotten fairly knowledgeable about them. Of course I want to buy an original.
Here is my question: I have a copy, and have always used, the Blue-Book of used gun values.
Where in the world can I find an 1851 Navy, in genuine original 50% condition, grade fine, at the Blue-Book price, plus perhaps an extra two o three hundred dollars for a commission? I have been studying the internet for a year, and I am absolutely dumbfounded.
It seems that everyone on the internet is advertising and describing 1851 Colt Navies that are, by their own descriptions, no better than 50 to 60% pieces, but are putting prices on them that correspond to 90 to 95% in the Blue Book. What in the world is going on here?
This is particularly baffling to me since, most of the pieces have stayed on their websites for more than a year, and for the third straight year in a row, the Blue Book (25th ed.) is reporting a zero increase in the Blue Book values of the 1851 Colt Navies and 1849 Pocket Models.
Again, I am asking experienced collectors, what in the world is going on.
Also, I am asking experienced collectors the following: If there is no question that the remaining original finish on all metal surfaces of a Colt Navy is only 50%, does the fact that the wooden grips may have 90% of the original varnish "push" this piece up to being an 85% piece? Many many internet sellers are saying that it does. I don't view it this way, because under this type of approach, you could have a piece with only 10 to 15% remaining finish on the metal, and if for some reason the grips are 90%, then it would mean that you suddenly have a grade "fine" piece, being 30% overall or more. I just don't buy it.
The way I understand the Blue Book system, the metal must first stand on its own to establish the grade. Let's say it is clearly 50%. Then, to stay at 50%, the grips should be approximately 50% also, and significantly better grips can't push it up in value more than a small amount.
Am I right??? If not, then I could have a pre-64 winchester rifle, with 10% finish on metal, and since the surface of the wooden stock is so vast compared to the metal, I could claim that a 95% stock pushes the grade of the rifle up to 70 or 75% I say, "No way." But I would be glad to hear from others.
Thanks, Big Paulie