Winchester Repeating Arms Company. Herb Houze
is also very much the case with the rarity factor, but to a lesser degree. The admonishment which follows is directed solely towards those unfamiliar with antique guns and is of extreme importance: Original finish that appears on a gun should be preserved at all costs. Any cleaning should be executed with the greatest of care so as not to destroy any of that remaining finish. Many otherwise fine pieces have been considerably lessened in value because of promiscuous over-cleaning.
Prominent among the nuances of understanding condition is judging the amount of original finish; in the majority of cases this is bluing although others include casehardening, browning, nickel or silver plating, etc. Merely establishing or accurately estimating the percentage of finish remaining is not in itself quite sufficient. A feature that must also be taken into consideration is the condition of that original finish; whether dulled from age or in its factory bright condition, whether scratched or marred, etc. The identical percentage of original finish can fall into several degrees of condition. The knack for estimating finish is quite easily acquired, but it does necessitate actual first-hand experience in seeing and handling the guns themselves.
Another interesting observation on the eccentricities of the gun market with respect to “condition” is that the two most readily sold types of guns, and those which experience the least sales resistance when they are logically priced, are both the cheapest guns in the worst condition and the very finest guns in the ultimate degrees of condition. The defective pieces are attractive both for their extremely low price and the fact that they have a tremendous following of devotees who enjoy doing their own home gunsmithing (receiving either cash or therapeutic profit). In the case of the finest pieces they eventually reach the end of the line and never become available again. The best quality guns are vanishing from the active market and are the subject of heavy competition. The great bulk of antique guns available fall into the condition categories between these two extremes. The “in-between” are generally most readily available and are more often “churned” or turned-over by the many collectors in the constant process of upgrading.
STANDARDS FOR GRADING CONDITION
To understand values as shown throughout this book, it is essential to establish well-defined guidelines for various grades of condition. This subject has such wide latitude that a great diversion of opinions has always existed as to what should and what does constitute each degree of condition change as well as what words should be used to name these degrees. Likely the subject will never be resolved for the simple matter that firearms have so many variable factors that no one or two simple words can easily encompass their overall condition. As was stated earlier, once a piece is less than “factory new” and as near perfection as possible, opinions as to the exact condition of that piece will vary considerably.
In practice, i.e., mail-order sales, advertisements, catalogs, etc., simple one or two word descriptions of condition have not been found satisfactory. Up to the 1950s or so, those short one-worders would often be used in cataloging firearms. Although unsatisfactory, they were at least acceptable for the most part with no loud grumblings from collectors. This was especially true with the less expensive guns, many of which numbered under $50 in those days. As the field grew and the demand became greater (and consequently the prices), the need for more detailed descriptions, especially for mail-order sales, was quite apparent. It was one thing to sell a gun for $10 or $20—if the purchasing party found the piece below his expectations, he merely kept it, since to make the return wasn’t worth the trouble. However, with prices ascending, buyers became much more discriminating, and it was worth their time to send those more valuable pieces back! Thus, in this day and age, there has evolved a very elaborate means for describing antique and collectors’ firearms accurately for mail-order sales, and this has generally been the outgrowth of the system used in the author’s own earlier catalogs. No standard pattern is followed by all in the hobby, and there is very little likelihood such will ever be the case. The general format developed to describe a firearm is a breakdown into various components, describing each separately. Thus, for an antique revolver, after the basic description including barrel length and any special mechanical features or markings, there should be individual details given for the percentage and condition of original finish remaining, the amount and location of rusting (almost every piece has some even to a minor degree); the condition of the metal, of the markings, and of the grips and the mechanical functioning of the piece. Any special defects (or attributes!) should also be noted. The buyer is thus less apt to be disappointed after seeing the piece, and the seller will minimize the amount of items returned to him with letters of disappointment.
The National Rifle Association through its committees on arms collecting has established a set of standards specifically for antique guns. Although all the words used in these standards or their definitions are not in everyday use by all collectors or dealers, these NRA guidelines are the closest to a code that the gun collecting field has. They are listed here with the permission of the NRA.
CONDITION STANDARDS FOR ANTIQUE FIREARMS
FACTORY NEW—all original parts; 100 percent original finish; in perfect condition in every respect, inside and out.
EXCELLENT—all original parts; over 80 percent original finish; sharp lettering, numerals and design on metal and wood; unmarred wood; fine bore.
FINE—all original parts; over 30 percent original finish; sharp lettering, numerals and design on metal and wood; minor marks in wood; good bore.
VERY GOOD—all original parts; none to 30 percent original finish; original metal surfaces smooth with all edges sharp; clear lettering, numerals and design on metal; wood slightly scratched or bruised; bore disregarded for collectors firearms.
GOOD—some minor replacement parts; metal smoothly rusted or lightly pitted in places, cleaned or reblued; principal lettering, numerals and design on metal legible; wood refinished, scratched, bruised or minor cracks repaired; in good working order. (GOOD”: Universally used, abused and misunderstood terminology. Be sure to read discussion relevant to it in “INTRODUCTION.”)
FAIR—some major parts replaced; minor replacement parts may be required; metal rusted, may be lightly pitted all over, vigorously cleaned or reblued; rounded edges of metal and wood; principal lettering, numerals and design on metal partly obliterated; wood scratched, bruised, cracked or repaired where broken; in fair working order or can be easily repaired and placed in working order.
POOR—major and minor parts replaced; major replacement parts required and extensive restoration needed; metal deeply pitted; principal lettering, numerals and design obliterated, wood badly scratched, bruised, cracked or broken; mechanically inoperative; generally undesirable as a collectors firearm.
These NRA conditions have been used by the author as the guidelines for the value ranges in this work. In order to use this book correctly, the reader is urged to constantly consult these condition standards when assessing a gun before applying a value to it. They stand as the crux of the valuation matter.
FOR FIREARMS ON WHICH BLUE (or nickel) FINISH IS A MAJOR DETERMINANT OF VALUE: the wide latitude given to “original finish” in the NRA “Standards” has been refined for this GUIDE:
“VERY GOOD” indicates a crisp piece with but traces of finish
“FINE” is a specimen with 30 percent finish
“EXCELLENT” indicates 80 percent finish
BLUE vs. NICKEL: On mass produced guns, invariably cartridge models, that list “blue or nickel” as standard, it is observed that blue frequently tends to bring a premium. That occurs more often on guns in the upper grades of condition and (on handguns) in the larger caliber models. Premiums are modest for “FINE”, rising substantially for “EXC.” and “FACTORY NEW/MINT.” This axiom is a very broad