Engraved/gold-inlaid 1911
Question
QUESTION: I have a Colt 1911 manufactured in 1918. It has a 5-digit C serial number. It was kept in mint condition until 1959 when Jim Clarke did a trigger job on it. In 1962 it was totally engraved and gold-inlaid (even the bushing is engraved) by E.C. "Jack" Prudhomme of Shreveport, La. The grips, also engraved, are solid ivory. Before he died, Mr. Prudhomme told me personally that it took him 350 hours to engrave the gun, and that is fee was $3,000 (he kept excellent records). I was offered (and turned down) $6200 for this weapon about a month ago simply because the buyer knew the name Prudhomme. The pistol is in near-perfect condition. I have pictures I can send if you'd like to see it. Where would you suggest I go to determine the pistol's true worth?
ANSWER: I would get appraised in person by 2 auction houses 2 FFL dealers and 2 gunsmith. Then avaerage the 6 prices.
There really is no "book value" for a one-of pistol.
If you were offered $6200 its likily going to fall somewhere around there.
---------- FOLLOW-UP ----------
QUESTION: Thanks, Paul. I would appreciate the names of contacts and auction houses. The FFLs I know think guns are meant to shoot. They do not appreciate the workmanship that goes into engraving a fine weapon. The fellow who offered the $6200 was just passing through town and happened to walk into the FFL store I was visiting. The dealer thought I was nuts for not accepting the offer. But then, he's a shooter who has no use for an engraved gun. Thanks again for the assistance, and especially for a specific direction or contact.
Answer
Here are some auction houses.
http://www.jamesdjulia.net/
http://www.rockislandauction.com/
http://www.jcdevine.com/
http://www.manions.com/
http://www.littlejohnsauctionservice.com/auctions.html
You can also inquire with
http://armscollectors.com/
$6200 is a fairly high price for an engraved pistol that was not presented to a person of note.
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