11 Thompsons to be Auctioned at Morphys Dec 6-8

[Grease Gunner]

Hello All: My Favorite Auction House (Morphys) will have a Treasure Trove of Thompsons in their Upcoming Auction, December 6-8.

https://auctions.morphyauctions.com/catalog.aspx?auctionid=593

There will be 7 Colts, 1 West Hurley, Two 28a1s, and one M1a1. Also there are 8 Reisings and 6 of them have Cases !!

I only wish I had Unlimited Funds!! This is an Buyer's Opportunity IMO. Direct any Questions to John Keene,Master Sergeant ,USA Retired.

He is Both a Firearms and NFA Specialist. I Value my Relationship with John and Have always Found Him to be a Wealth of Information  and most

Importantly Very Honest and Ethical. I have referred a Few People to Morphys and these Consignors were Thrilled with Results

 

 

Edited November 4, 2023 by Grease Gunner
spelling

[mbc230]

I checked the catalog and those Colt's are impressive. I too wish I had a bottomless pit of money, but I am just curious as to what they will go for. It looks to be a great auction and wonderful collection.

[colt21a]

Really who cares what they sell for? unless you have 10 or 20 to sell now. and you want some cash....there will always be a buyer for a few. for 100's not so much.  The old breed are almost all gone. i counted ten guys at SAR show last year, back 25 years ago.{been vendor there that long.} we had a 100 old breed guys looking to buy. now less then 10 real sad. the dwindling buyers and collectors.

its what it is. And we deal with it. even my cool cannon is gone. and the blonde is 10 years older.

[bradhe]

If there is really going to be a material turnover of the Class 3 transferable inventory because of people aging out, I doubt that there are anything enough buyers at today's prices to absorb the inventory

[Mike Hammer]

Buying anything from a Morphy auction is no bargain. There numerous fees are extravagant. 23% buyers premium, high shipping cost, handling charge, insurance, and your state taxes drive your winning bid to an excessively high cost. Better to try and buy one directly from the seller if you have the opportunity. But then some people have ample pockets.

[colt21a]

YOU HAVE THAT 100% CORRECT.AND HOW MANY 25 TO 35 YEAR OLDS TODAY. WANT THEM THEY ARE MORE INTERESTED IN PROTESTING ANYTHING.

 

SO WHAT YOU GET A FEW WHO CAN AFFORD IT. THATS A MARKET

Edited November 7, 2023 by colt21a

[APEXgunparts]

I see an HK21 tripod in the auction.
You don't see many of those around.

OH, and I always wanted a 40MM BOFOR's for the back yard!
Guess I missed that.

Richard

Edited November 7, 2023 by APEXgunparts

[johnsonlmg41]

5 hours ago, bradhe said:

If there is really going to be a material turnover of the Class 3 transferable inventory because of people aging out, I doubt that there are anything enough buyers at today's prices to absorb the inventory

Based on current sales, I can say with certainty that you are incorrect.  That turnover started quite a while back and is continuous.  The buyer pool while perhaps not as well off, is dramatically larger today than 20 years ago, as is the population in general.  The number of transferable guns continues to shrink as well.

[Got Uzi]

You also forgot that the big money guys only want to buy to hedge their investment portfolio and could care less about what the item is-cars, machine guns, gold, watches, whatever. 

[colt21a]

I NEVER IMAGINED THE BORDER JUMPERS OVER 20 MILL WENT CLASS 3. THATS A WHOLE NEW MARKET. IN IN THE TWINKLE OF A EYE. AND PEN OR VOTE IT CAN GO AWAY REALLY QUICK.

SINCE 1934 ITS BEEN ALL UP HILL WITH LAWS. I REMEMBER 2 AND 4 WEEK TRANSFER TIME.

I KNOW A TON OF BIG, BIGGER MONEY GUYS ALWAYS HAVE. Some have been changing the tune lately. BUT I ALWAYS TELL THEM YOU RICH YOU CAN AFFORD THE HIT.

SO WILL SEE WHAT THE NEXT ELECTION BRINGS UP STATE AND FEDS.SHOULD BE INTERESTING. I WISH AND HOPE FOR THE BEST.

[SP Sarge]

Nice guns. Auction houses are a rip-off.

[colt21a]

You mean the same guys who won't buy you a coke or a flipping pizza slice after a good gun show. [Which many times i have done ]FOR HUNGRY BUYERS. And think nothing of leaving $5 g or more on the auction table, bragging the deal they got on the gun...those people ha ha..or paying a $100 bucks to you to get something shipped to them and moan, but let the auction house charge them handling packing and shipping for $500.00

oh the class 3 world. i can say doing it long enough.it has really turned to buffoonery on the highest level.

it makes going to the shows so much better.....enjoy the day.

[Frank Iannamico]

Many of those guns belonged to Thompson collector and friend Lawrence Heiskell who passed away in October 2022. Some of his Thompsons appear in the book American Thunder III. He had a pretty impressive gun collection. He lived in California, but the guns were stored in Virginia and AZ. 

On page 50 there is a picture of four of his Colt Thompsons; a  1921, a 1921AC, 1927 and a 1928 Navy.

https://www.legacy.com/us/obituaries/roanoke/name/lawrence-heiskell-obituary?id=36730847

RIP

[TD.]

It is always fun when seven Colts come up for auction. There are certainly a few that are impressive and will likely appreciate in value and desirability in the years ahead. However, I would caution all Board members to check out each one individually because there are some problem Colts in the mix. I see a couple that have been refinished, index alignment issues and some sanding on very expensive Colt wood. You do not have to be a Colt expert to see some of the problems. For example, if there is no picture of the butt stock anchor mark, this may be a clue. There is one very questionable anchor mark. Enough said. If you are a serious bidder, take your time, evaluate the pictures carefully and don't hesitate to ask for additional pictures. If you narrow your choice down to one or two Colts, an in-person inspection is best. Yes, it will cost some money to be a floor bidder. But at least you will know what you are bidding on. 

All good stuff!!!

[TSMGguy]

I've been surprised in recent years how people will purchase big-ticket items without an in-person examination.  I guess I was fortunate to have had a job where travel was basically free using airline passes or jump seats. I aways traveled to inspect the more expensive items. At most I was out the cost of a rental car, a few meals, and maybe a hotel room or two.

Most auction house photo spreads are of pretty good quality, but keep in mind you're seeing only what you're meant to see. 

Edited November 8, 2023 by TSMGguy

[mbc230]

On 11/6/2023 at 12:36 PM, colt21a said:

Really who cares what they sell for? unless you have 10 or 20 to sell now. and you want some cash....there will always be a buyer for a few. for 100's not so much.  The old breed are almost all gone. i counted ten guys at SAR show last year, back 25 years ago.{been vendor there that long.} we had a 100 old breed guys looking to buy. now less then 10 real sad. the dwindling buyers and collectors.

its what it is. And we deal with it. even my cool cannon is gone. and the blonde is 10 years older.

Well I care about the prices as it is a hobby of mine to know what Colt Thompson's sell for and well the ones listed are very nice and well coming out of a very nice well known collection. As we all know it is the circle of life as the old timers are passing on. We are only the caretakers of these fine works of art.  I would not want to buy anything at any online auction such as Rock Island or Morphy's, but lets be real a lot of sellers look at these auctions as a baseline for what the value of there collection is worth. I mean I get the prices are overly inflated with the premiums, taxes, and additional fees, but it does provide some sort of guideline at least to me it does when I subtract all the added garbage fees.

Edited November 12, 2023 by mbc230

[colt21a]

Yes mbc 20 you are right in that remark a price point.I retired out of the tommy fun about 15 years now after being in it for 40, so yes i look at most today as not that great shape.Since many i had , most only one or 2 owner guns, and some direct from p.d. so one owner.THE MORE OWNERS THE MORE WEAR.AND OF COURSE DREADED CHANGES TO IT.

parts, wood, barrels, finish, many things.i did not have a ton of Thompsons like some really big players. at high count was over 125,but way most by 98% of those out there.

Even offered to buy EARL OUT, BACK IN 98/99

{AFTER WE HUGGED AND MADE UP HA HA} 

SO ITS BEEN A FUN RIDE AND KEEPING THAT HISTORY ALIVE.AND I ALWAYS WANTED ONE THING. COND.AND ORIGINAL.

AND I MADE THAT MY GOAL ALWAYS IN THOMPSONS.AND ALL THE EXTRA GEAR FOR THEM HARDCASES SOFT. MAGS DRUMS YOU NAME IT I HAD IT.IN THE HUNDREDS.SO IF I COME ON STRONG TO SOME OVER THE YEARS WELL THAT' S TOUGH. I DID IT ALL A THOUSAND TIMES OVER.

AND MAINLY BEFORE MANY EVEN GOT STARTED.WHEN DEALS WERE REALLY GOOD. AND QUALITY WAS WAY UP.THERE ARE STILL A FEW GUYS AROUND LIKE THAT BUT NOT TOO MANY.BESIDES I ALSO COLLECTED OTHER CLASS 3  HAD HUNDREDS,

SO YEAH I GUESS I CAN SPEAK FROM SOME EXPERIENCE ON THAT.ONE DAY YOU WILL GET THERE ALSO.

and know you had a lot of fun doing it.

[TSMGguy]

The thing I dread the most is a class III gun that's been a rental. These have about been shot to death, with virtually every part replaced at some point. A gun that was owned by a dedicated and active shooter and has been to several machine gun shoots a year for the last forty or fifty years is almost as bad. 

[Sandman1957]

If you're talking about Little Fat Guys Gun, I'd buy it yesterday!   just because I like him!  I'd even trade him a better gun for it!

S/Fi!

[mbc230]

On 11/12/2023 at 10:51 AM, colt21a said:

Yes mbc 20 you are right in that remark a price point.I retired out of the tommy fun about 15 years now after being in it for 40, so yes i look at most today as not that great shape.Since many i had , most only one or 2 owner guns, and some direct from p.d. so one owner.THE MORE OWNERS THE MORE WEAR.AND OF COURSE DREADED CHANGES TO IT.

parts, wood, barrels, finish, many things.i did not have a ton of Thompsons like some really big players. at high count was over 125,but way most by 98% of those out there.

Even offered to buy EARL OUT, BACK IN 98/99

{AFTER WE HUGGED AND MADE UP HA HA} 

SO ITS BEEN A FUN RIDE AND KEEPING THAT HISTORY ALIVE.AND I ALWAYS WANTED ONE THING. COND.AND ORIGINAL.

AND I MADE THAT MY GOAL ALWAYS IN THOMPSONS.AND ALL THE EXTRA GEAR FOR THEM HARDCASES SOFT. MAGS DRUMS YOU NAME IT I HAD IT.IN THE HUNDREDS.SO IF I COME ON STRONG TO SOME OVER THE YEARS WELL THAT' S TOUGH. I DID IT ALL A THOUSAND TIMES OVER.

AND MAINLY BEFORE MANY EVEN GOT STARTED.WHEN DEALS WERE REALLY GOOD. AND QUALITY WAS WAY UP.THERE ARE STILL A FEW GUYS AROUND LIKE THAT BUT NOT TOO MANY.BESIDES I ALSO COLLECTED OTHER CLASS 3  HAD HUNDREDS,

SO YEAH I GUESS I CAN SPEAK FROM SOME EXPERIENCE ON THAT.ONE DAY YOU WILL GET THERE ALSO.

and know you had a lot of fun doing it.

I am hoping I can make it to that age G-d willing and I bet you had a fun run at it and well I bet the hunt was the best part of it as that is what I enjoy the most, but after the hunt plays out then it is working the deal, but some sellers have there stuff priced so high that it really makes me not want to make an offer. I do not mind the haggle, but some are just so unrealistic. Well some of the Colts out there are just so overpriced that is why I do my research and wait for the "Right" one to come along that fits my budget. 

[colt21a]

Smart move i would tell many what i paid or what sold for and some would get ticked off. if i sold to a guy for $10 g i remember the deal. he would sell later and tell the new buyer Ron sold it to me for $17 g. so you can pay 20 g.

 

they would call me and i would say Liar he paid me $10 g. AFTER AFEW YEARS OF THAT I GAVE UP TALKING TO THESE GUYS.. Because all it was a price check. or the new customer think i ripped him off. and i would say you bought the gun from Joe not me he made the freaking $10 g. not me.  it was a cluster of conversation.

 

and later a few dealers just said yeah Ron wacked me for $12 g i want to make some profit.

 

i did it more  for the love of history and the gun because i sure as hell did not end up rich.sure i may have spent and made millions

 

it all went back in the pot. and got spent. never went for the greed but history.... but yes a fun ride.and very few can tell me anything about thompsons or 100's of other guns.they never sold the amount or had the amount of so many.

Now retired... from the circus so i watch the ones now with the clown mask try to entertain us now.in 20 or 30 years some here will know all about it. if they make it that long.Like SGT Bill Dane if you make it out of the jungle, YOU WON!

 

[Thumpy]

On 11/6/2023 at 4:48 PM, colt21a said:

YOU HAVE THAT 100% CORRECT.AND HOW MANY 25 TO 35 YEAR OLDS TODAY. WANT THEM THEY ARE MORE INTERESTED IN PROTESTING ANYTHING.

 

SO WHAT YOU GET A FEW WHO CAN AFFORD IT. THATS A MARKET

I’m 27 currently… bought my 1921 Colt Thompson at 25. We young guys are out here lol… an we want them. 

[colt21a]

27 i am glad to hear that, keep up the fight and the want and need. There is hope for the future.

[Thumpy]

1 hour ago, colt21a said:

27 i am glad to hear that, keep up the fight and the want and need. There is hope for the future.

Indeed my friend. I know a handful of guys my age or younger who’ve bought an mg or a few… every single one of us didn’t buy them as investments or think of them as that unlike the previous generations… we are all using them as a tool to hopefully defeat the NFA… get them out get folks to shoot them teach them about the NFA an how stupid it is. Every guy I know personally wants to some day have a “worthless mg” because the NFA gets repealed. So I am personally very hopeful for the future.

[Doug Quaid]

On 11/20/2023 at 11:56 PM, colt21a said:

27 i am glad to hear that, keep up the fight and the want and need. There is hope for the future.

I think everyone is being a tad pessimistic about things in general.   

First of all, whenever you deal with the public, you are going to run into people who are idiots or jerks.  I used to rip tickets at a movie house, and it amazed me how many people needed help to accomplish the complicated task of buying popcorn, sitting down, and shutting up.  Don't let those kind of people get under your skin.  They will always be there, and not letting them get on your nerves is the best revenge on them.  

Before the internet and youtube, most shooters did not even know that you could buy a machinegun, so the prices were low.  I remember seeing an article from the 1970s, where a guy said that the machinegun market was "in trouble."   Because when you buy a MP-18 for $200, you have to pay $200 for the stamp, and so people don't want to buy them.  Because they'll never get their money back out of the gun unless they charge $400, which the market will not bear.  So people were just scrapping machineguns.  Literally throwing them away.

When you sell a gun for $400, you're going to have a WHOLE VAST ARMY of potential buyers.  When it's $25,000, however, the customer base is going to shrink down to a handful of people.

The kind of people who shop for collector guns at auctions DO NOT CARE if they have to pay a 25% buyer's premium, because they are RICH.  They see something, they want it, they buy it.  Then they fly home on their Learjet.

One of the reasons that the prices of ALL collector stuff is skyrocketing is because the Baby Boomers are in their years of prime earning power right now, and their kids and mortgages are paid off.  And there is a ton of them.  Suppose there is a dentist out there whose wife works in pharmaceuticals.  And his retirement fund is fully funded and his mortgage is paid off.  He has enough money to buy a 1968 440 Charger for $140,000.   And sit on it for 25 years until they both die.

What you're not going to see is a pack of 25 to 30 year olds crowding into car shows and briskly buying and selling 1968 Chargers like it's 1977 again.  The 1968 Charger world has moved on to old rich guys.  

As far as buying stuff at auction goes, if you have to pay extra to get what you want, just get it.  Because these things don't come up for sale that often, and the prices keep going up.  

For example, about 10 years ago, I paid $2,500 for a Bally Twilight Zone pinball machine, an early 1990s collector item.  At the time, that was a disgustingly high "ebay" price.  I had spots in front of my eyes as I handed the money over, I felt like an idiot.  Now I could sell it for $11,000.

Similarly, I paid $7,900 dealer price for a NIB Vector UZI about the same time.  Now it's worth what?  $18,000 maybe?

So if you see something you REALLY want at some nosebleed auction price, just choke down the vomit that is glurking up and down in your esophagus, and pay the nosebleed price for it.  Because 5 or 10 years from now, you'll be bragging about how little you paid.

Speaking of annoying customers, the reason I own TWO Thompsons instead of one is because the seller listed them on Gunbroker, and the tire-kickers drove the guy so crazy that he lost his patience and basically just dumped them on me at bargain-basement price because I had cash in hand.  

  

Edited November 27, 2023 by Doug Quaid