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5863 - REWAT and new barrel sold for $38,000

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#1 michaelkih


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Posted 15 April 2019 - 03:39 PM

I made an earlier post about this Thompson.  I assume the seller may be a member here as well?  Not sure.  
Anyways, a friend was looking to buy it, but then passed, then oddly enough, my dad was looking to buy it (Maybe coming over and seeing my 1921 finally got him to take the plunge).  After posting about it here though and learning that it's a known rewat and has a new barrel, I knew that it was clearly not worth the $35,000 asking price of the gun.  Not when similar Colts still with their original barrels are available right now for $31-$37 from Ruben, who always has things high.  I offered $30,000 for what it was, but no go.  Perfectly fine, as there are better fish in the sea for my dad, and the seller is more than welcome to sell it for whatever he wants. Eventually someone always bites.
Well sure enough that happened! I decided to check in on the gun to see if he would consider $30 again, and funny enough he said he sold it for $38,000 to a well known dealer who is getting it for a customer.  It was a nice looking Colt except for that rewat status and new barrel.  I can only say that I hope the end buyer know what they were buying.  If the buyer knew though and still wanted to pay $38,000+whatever the dealer tacked on for it, then damn good job to the seller!  $38,000+ though for that.....Yikes.

Edited by michaelkih, 15 April 2019 - 06:01 PM.

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#2 MrBill


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Posted 17 April 2019 - 02:16 PM

I have bought and sold six Colts over the last eight years in a attempt to upgrade my collection (some of the guns i had to buy to get the accessories) and on the sell side,the price can be very unpredictable. I had very good luck with Julia for two pretty average shooters , I sold one diamond at the SAR show for a good price but the others were not so easy to get rid of. Its all timing at these prices , inheritance,real estate sale,stock market home run,etc.Most board members in my opinion want to get the Colts basically below market. The 38K sale price is probably where prices are going. Are these prices insane? Just look at housing over the last 30 years.        

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#3 reconbob


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Posted 17 April 2019 - 07:20 PM

       $38K for this gun is amazing. To knowledgeable people the price is way too high.

But all it takes is somebody with money who does not care, to over pay for a gun like

this. I am not begrudging the seller getting his price. The value of anything at any given

time is what somebody is willing to pay.

     This will have a ripple effect - now those with similar guns will figure that their

no-longer-original rebarreled gun is also worth big bucks.

     I am no expert but would have thought that if you were patient and attentive

you could have gotten an all-original gun for the same money...or less.



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#4 huggytree


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Posted 17 April 2019 - 08:15 PM

ww2 m1a's are selling at $19,000..i think one was $18,500


all thompsons are down $5,000 from what i can see


the whole FA market is down 10-15%+


only ones i see holding their price is Mp40 and Swd m11/9


ive been buying like crazy for a year, taking advantage of guns being -$3/$4,000


were in a slump....if i was gonna buy a Colt right now id expect pretty minty for $38,000


a rewat with a replaced barrel i think $32,000 is closer to the market..maybe less....i did not look at the gun, im just giving a general opinion.....back when i was looking 3 years ago Colts with major issues were $32,000...$36-38,000 got you a pretty nice one....if ruben is selling colts at $38,000 that tells you the market is $35,000

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#5 Ron Mills

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Posted 17 April 2019 - 08:40 PM

Bob, I disagree: You are an expert. Thanks for all your insight over the years.
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#6 TD.


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Posted 17 April 2019 - 10:31 PM

What I believe is those seeking to purchase a Colt Thompson will soon have access to something that will provide them a wealth of information about an American submachine gun that costs thousands of dollars.     

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#7 mohawk64


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Posted 17 April 2019 - 10:58 PM

TD. Do tell.
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