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Buying Colt Thompson - How Much To Pay?

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OK, somebody please reassure me I am not insane by giving me an estimate in line with what I'm facing here.


I am about to buy a Colt Thompson. The gun has never been refinished, approx. 80% luster with some scratches due to former life in a PD. It's marked on the side as a model of 1927 and the auto mark was also milled off the selector. The markings match the pictures of other 1927 Thompsons I have seen in the various books. It unfortunately has regular full auto internals (and fires in full/semi) and the original internals are long lost. However, it does have a unique overall look with the 27 markings and I think that makes it an interesting piece.


I figure I can sell my amnesty registered M1A1 to pay for part of this. I've worked out a price with a friend who owns the gun (and it's steep!). How much would you pay for this setup? It's not coming with any drums or accessories. After I get some estimates from the group here and I seal the deal I'll share how much I'm throwing into this gun. To that person I've previously emailed about this gun feel free to repost your prior estimation.



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The 27 is one of the rarest versions of the Colt Thompson. I don't know how many exist today. To bad it doesn't have all the original parts but I feel sure you can probably locate some with a little effort. It is going to be an expensive gun however.
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I think I remember seeing one advertised last year for around $23,000.00 (a class III dealer in the south if my memory serves me). Also one sold at auction in October 2003 for $24.000.00 plus 15% Buyers premium. See WWW.JCDevine.com According to Roger Cox in his book "The Thompson Sumachine Gun" "It would be safe to predict that less than 150 (model 1927s) were made." Most were converted back to full auto and the parts discarded. ""The 27 parts have not survived in a single such case where the gun has been converted back to automatic" Page 13. Serial numbers of 21s converted to 27s in Cox's book include 4366 and 6700 (mentioned on page 13) and 5123 and 5332 (photos on pages 10 and 11). I think it very unlikely you will find parts to convert back to semi. Good hunting.
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