1902 Colt with Documents
GUEST:
Well, it's an heirloom that was passed down to me. My grandfather died in 1967. He lived in Kentucky, and my parents and I, we all lived in California. And my grandmother called and said, "You're the oldest grandson, so you get to pick between a revolver or five-dollar gold piece." So I picked the gun. And I unwrapped it and it was still loaded. Had four loaded rounds and two empties. And I asked them what happened and they said, "Well, your great-uncle was killed by an Indian." They thought the date was 1910, but I get back his death certificate and he was killed December 1902. But the Indian shot him, one paper said, and my great-uncle got off two shots. Those were the two empty rounds that were still in the firearm. Well, then I got interested in the firearm, and I sent a check back to Colt Firearms and with all the descriptions and the serial numbers, and they send you a nice little brochure. And the gun was shipped to L. Zeckendorf Company in Tucson, Arizona, in June of 1902. And my great-uncle was killed in December of 1902.
APPRAISER:
Oh, wow.
GUEST:
So the gun's only six months old. And it's been wrapped up ever since then.
APPRAISER:
That explains the good condition.
GUEST:
Yeah. Although it has some wear-- but I felt that possibly that was from just the dirt and grime being in the leather.
APPRAISER:
Holster wear is common, yes. That's what makes it so great is the provenance that you do have. It's indisputable. And so often these things get lost or misplaced. It's just a great story of the American West. The gun's got... most of the blue and most of the case colors. Like you said, it's a little bit worn there at the muzzle. Do you have any idea what the gun might be worth?
GUEST:
Well, I looked up a gun book. I don't know the percentage of wear.
APPRAISER:
Condition.
GUEST:
So I put the value of the gun at between $4,800 and $6,000. But I understand if you can put some history with the gun, then it makes the value more, but... and that's what I don't know.
APPRAISER:
Okay. I'm going to value the gun at $5,000. And then with the history, I'm going to add another $10,000, so it makes the package worth $15,000.
GUEST:
That's amazing. And if I get more information, that helps...?
APPRAISER:
It all helps, yeah.
GUEST:
That interesting.
APPRAISER:
Thanks for bringing it in.
GUEST:
I'm surprised.
Appraisal Details
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
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