Rock Island’s Gun Auction Continues to Defy Faltering Economy
Moline IL, April 25, 26 & 27 –-(AmmoLand.com)- Rock Island Auction Company realizes strong sales during their April Premiere Auction. Peaked interest in the gun market, particularly collectable firearms has Rock Island defying the faltering economy. Strong bidding participation drove total sales to over $8.5 million; coupled with spectacular results from their Spring regional auction RIAC is set to break another industry record for the year. This sale featured over 2800 lots of quality firearms, edged weapons, military artifacts and more.
The economy had no hold on RIAC bidders, over 97% of this auction sold! This amazing sell through rate proves that bidders come to Rock Island Auction to buy.
A portion of the proceeds from the Will Hoffeld’s estate benefited the NRA foundation. The NRA Foundation is the country’s leading charitable organization in support of the shooting sports. Will’s passion for firearms will continue through the family’s generous donation to this important organization.
This auction proved strong for all genres of firearms and every level of collecting. The outstanding selection of Winchesters were among the top sellers of the auction. A rare factory engraved New Haven Arms Company Henry rifle commanded a price of $103,500. Lot 3702 an exceptional Winchester panel-engraved model 1866 carbine sold for $63,250 followed by lot 3718, an exceptional Winchester Model 1886 musket with bayonet which brought a price of $54,625.
At Rock Island Auction Company, Colts repeatedly show their importance as high value collectables and solid investments. Of the military inspected Colt Cavalry’s offered, an Ainsworth inspected U.S. Colt Model 1873 stood out bringing a within estimate price of $40,250. A Colt flattop double action model 1878 frontier revolver serial number 1 sold for $40,250. The collection of engraved Colts also did well, a documented factory engraved, silver-plated, Colt single action army revolver with carved pearl grips reached $21,850. The Hoffeld estate brought several rare Colts including 4 Patersons with no reserve! A rare Colt pocket model Paterson revolver no. 1 sold above estimate for $20,700. There were nearly 100 Colt Brevetes in this auction from the Hoffeld collection, a bid of $5,175 won an engraved Japanese copy of a Colt Model 1851 navy percussion revolver.
Outstanding results were seen in the spectacular selection of shotguns and sporting arms. An abundance of rare calibers and gauges drove bidding interest to achieve a total of over $2.3 million in this genre. Above estimate prices were obtained on an excellent cased engraved Purdey & Sons two barrel set double barrel shotgun and rifle with scope ($40,250) & a G. Gournet engraved Parker reproduction A-1 special three barrel set side by side shotgun with original leather takedown case ($28,750). The sporting rifles were led by the exceptional collection of pre-64 Winchester Model 70’s which were in high demand as collectors sought to own one of these hard to find guns in rare calibers. All of the model 70’s sold, many above the high estimate, in fact the price realized on this collection was nearly twice the high estimate!
Scott Meadows lead off the military firearms in this auction with dozens of rare, experimental and prototype 1911’s. An exceptional early first year production two digit serial number Colt Model 1900 sight safety semi automatic pistol with factory letter brought $21,850. Ample participation in class III firearms brought $31,625 on a police-marked, Colt, model 1921/28 US Navy over-stamp Thompson submachine gun.
An impressive grouping of deringers came to the auction block with over 50 high condition Philadelphia and Henry deringers. A set of cased engraved and gold banded Henry deringer percussion pistols with coin silver furniture brought a within estimate price of $43,125. An above estimate prices were obtained for two San Francisco agent marked Henry deringer percussion pistols, a N. Curry marked, engraved and silver furnished with silver barrel bands and an A.J. Plate marked pocket pistol brought $17,250 and $18,400 respectively.
The Frank and Karen Sellers collection headlined the Sharps of this auction. His patent models and sharps drew bids up to $28,750 for a rare Sharps model 1877 No. 1 long range rifle. His parts also did well, a lot of three Sharps receivers with barrels sold for $6,325.
Edged weapons brought bids from phone, fax, email and the floor. Of the many fine Bowie knives offered, a rare English & Hubers Bowie knife with sheath and an A. Carr spear point Bowie knife with sheath sold for $13,800 and $2,875 respectively. A nice selection of swords included a rare Eagle Pommel U.S. Naval officer’s sword which realized an above estimate price of $6,900.
RIAC continues to offer fine antique and collectable firearms at auction, this sale had over 2,100 items classified as antique or curio and relic! Many fine Indian war items and documented Custer battlefield relics drew interested buyers. A lot of items belonging to a Little Bighorn survivor, 1st Sergeant John M. Ryan sold for $6,900; this lot included rare discharge documents, an Indian War campaign medal and a forage cap. An outstanding U.S. Springfield Model 1873 Carbine in 7th Cavalry serial number range brought $25,875 and a U.S. Springfield model 1870 trapdoor Indian rifle with brass tack decorations sold for $6,325.
As a whole the April auction was a success, with a high sell through rate and sales reaching over $8.5 million. This auction had something for every level of collecting with interested buyers setting the auction prices not the house reserve. The result was satisfied buyers and sellers alike, a valuable goal for any auction house.
Join RIAC for their upcoming auctions: the next regional auction to be held June 27 & 28 and a Premiere Auction which will be held September 12, 13 & 14. Rock Island Auction Company is currently seeking consignments. Consign one piece or an entire collection and know that you are consigning with the best. For more information on selling at auction contact Pat Hogan or Judy Voss at 800-238-8022.
For more information about the April auction or upcoming auctions please call Letisha Murray or Judy Voss at 800-238-8022 or visit www.rockislandauction.com.
Rock Island Auction Company has been solely owned and operated by Patrick Hogan. This company was conceived on the idea that both the sellers and buyers should be completely informed and provided a professional venue for a true auction. After working with two other auction companies, Mr. Hogan began Rock Island Auction in 1993. Rock Island Auction Company has grown to be one of the top firearms auction houses in the nation. Under Mr. Hogan’s guidance the company has experienced growth each and every year; and he is the first to say it is his staff’s hard work and determination that have yielded such results.