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A rare Singer M1911A1 pistol sold for $166,000 in 2010, then resold for $414,000 just seven years later, the kind of appreciation that makes fine firearms look like smart investments. But here’s the catch: transaction costs can eat up 30% or more of the sales price, meaning that gun needs to appreciate by more than 30% just for you to break even on the sale.

Here’s something that surprises newcomers to firearms collecting every single time: an ugly, worn original firearm will almost always be worth more than a beautifully refinished one. Collectors obsess over originality, that patina, those handling marks, the slight wear on the bluing tell a story and serve as proof of authenticity.
