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While luxury watches corrected sharply and fine art faced tariff-driven volatility through 2024–2025, top-tier historically significant firearms largely held their value, with select museum-grade examples even rivaling gold’s performance over the same period. The difference comes down to absolute scarcity: you can’t manufacture more authentic Winchester 1873s or documented Civil War Colts, creating a fixed supply that’s actually shrinking as pieces get damaged, lost, or locked away in museums.