Inaugural Sale at New Facility is a huge success for Rock Island Auction Historic Premiere Firearms Auction realizes $8 Million! The inaugural auction of RIACs new facility brought firearms enthusiasts of every level to the massive 86,000 sq. ft. state-of-the-art facility.
News-Antique.com - Jun 02,2011 - Rock Island, IL, Historic Premiere Firearms Auction realizes $8 Million!
The inaugural auction of Rock Island Auction Companyís new facility brought firearms enthusiasts of every level, from veteran firearms collectors to first time bidders, all of which were impressed by the massive 86,000 sq. ft. state-of-the-art facility. Every chair (300 now compared to the previous 175) was full as auctioneers Pat Hogan, and his son Kevin took the podium Friday. Of the endless topics of the pre-auction chatter, the most common subject was the preview hallís abundant lighting and incredible size and scale. Collectors were able to preview items at their own pace with plenty of room to look down a bore or through a scope without bumping into a buddy. With all the additional interest from the new facility and the impressive collection of firearms up for auction, bidders drove up prices on the over 2,700 lots to a total of over $8 Million, bringing the total for the first two auctions of 2011 to over $10 Million!
Of the over 120 Colt Single Action Army revolvers offered, none were more impressive than an exceptional documented U.S. Lewis Draper inspected Colt Model 1873 single action cavalry revolver which sold above the estimate at $69,000. With more than 400 Colts in the sale many genres stood out with impressive sales such as a fully automatic Colt 1921/28 "Navy" overstamp submachine gun with FBI type carrying case, two drum and three stick magazines and a magnificent Colt 50-95 lightning slide action express rifle in exceptional condition with factory letter each selling for $31,625 respectively.
The most exciting lot was a 1938 Colt Model 1911A1 US Army contract pistol with accessories. The lot saw a flurry of bidders battling over this rare grouping which finally sold at $28,750, almost four times the estimated $5,000-$8,000. Colt long arms were also in high demand with a Colt 50-95 Lightning slide action express rifle with factory letter sold for $31,625.
This auction also featured the finest collection of Sharps to come to auction since the Frank and Karen Sellers collection. This outstanding collection was highlighted by a rare and historic, St. Louis inscribed, factory cased, Sharps Model 1851 sporting rifle which brought $40,250. A very rare documented Sharps Model 1874 No. 1 Creedmoor rifle went well above the estimated price of $8,500-$14,000 and sold for $28,750. A magnificent Sharps panel scene Gustave Young engraved Model 1853 sporting rifle left the building with a final sale price of $25,875, and a custom Sharps Model 1874 sporting rifle by Henry Slotterbek of Los Angeles, California realized $10,350.
Rock Island Auction brought to auction an outstanding collection of Lugers in rare and desirable configurations, as well as other German Military arms, Nazi hats, uniforms and militaria. The highlight of the over 250 lugers was an exceptionally rare documented cased gold plated factory engraved carved ivory stocked Krieghoff presentation Luger pistol which reached a final sale price of $69,000. Other top luger lots were a scarce Borchardt semi-automatic pistol