Python: price/value. Any levity?

[Sevens]

If you've been watching over the last handful of years, you've witnessed the Python simply climb, climb, CLIMB in price. It's outpaced everything other than panic items that are only inflated for weeks or months.

I visit gun shows, a very high quality show in particular. I see some VERY high prices on Pythons. And it's filtering down to other Colt revolvers, too. Lately, the King Cobra has been inching to heights never before seen.

The Python arrived in 1955 and it's legend is well known. It's simply not just another production gun. Truly, I do understand their place in the world of handguns.

I also absolutely understand the collectibility of rare or rare-ish versions of an already collectible handgun. Certain combinations of features simply drive the price or value up and I don't dispute that for a minute.

But check out the two tables on the page in this link:
http://www.guncollectorsclub.com/python.htm
Here, actual production numbers are listed for the Python by year, for (nearly!) every single year they were produced. This table ends at 1985, and more were produced after that time.

Just with a quick cut & paste on to a spreadsheet, I tallied those numbers.

466,497. Good grief. That, folks, is an absolute BUTTLOAD of revolvers. The Python has an awful lot going for it, but exclusivity and rarity (in general) is simply NOT it.

We don't have a lot of total production numbers associated with most guns. Sure, we do with some. But any way you slice it, HALF A MILLION is an awful lot.

 

[saleen322]

I hear ya Brother. I think part of it is their looks and excellent bluing but having shot them in past, their performance, while very good, was still just on par with Smiths of the same era. It just seems trendy to have one now and who knows how long that will last. All that said, I do wish I would have kept one.........

 

[highpower3006]

It really doesn't matter what you or I think regarding the prices of Pythons. The demand is driving the prices up and until the demand is satisfied, they will continue to climb.

I refused to pay what they were asking for first generation, single action Colt's back when they were in the $600 range. Now they start at four times that price and go up from there. Makes me wish that I had broken down and bought a couple.

I was fortunate enough to buy a Python a few years ago from a small gun store for $875 out the door. I have shot some and it certainly a nice gun and accurate as all get out, but not all that much different than my Model 27.

And speaking of Smith and Wessons, the prices on them have been going up too. Try to buy a decent Model 27/29 in the presentation case with accessories for under $1200. You might find one, but they are getting harder and harder to pick up for under a grand. The prices on plain old Model 28's have been climbing rather steadily also.

 

[Jim243]

Putting a value on any art form or collectible has nothing to do with supply and demand. It is an emotional issue where the buyer WANTS one of those either for the prestige or in this case the uniqueness of the design. In checking out Gunbroker.com there is no shortages of Pythons for sale. And yes the asking prices are way off the wall for what you are buying. But it is a perceived value that the seller thinks he should get for his property and not an actual market value based on the antiquity of the object. 19 pages of 20 to 30 listings per page of these guns certainly does not make it a rare item at all, but you will also note that most listings have no bids on them. Like all items their prices will go up or down depending on the popularity of the design and number that are available.

Now if it was one that was owned by Elvis Presley, that would make it a rare item and worth a considerable amount.

So hang in there I am sure someone will come to their senses sooner or later and the prices will come down at some point.

Good luck and happy collectible hunting.

Jim

 

[Sevens]

It really doesn't matter what you or I think regarding the prices of Pythons.

Putting a value on any art form or collectible has nothing to do with supply and demand.

Okay, I know that yanking a single sentence from an entire post is not really fair & often takes things out of context, but in an effort to make my point, I do want to address these at the same time.

It truly DOES matter what we think, especially as we discuss the subject and offer opinions and arguments to make our point. It would probably matter far less if we were arguing about the price of a stamp or coin, but most of us in this forum consider ourselves active enthusiasts in this ballgame. And for certain, I will argue (vehemently) that the "value" has an awful lot to do with supply and demand. In our game here, those two factors are like "1" and "1A."

I think perhaps I can make my point a little better if I step back from talking Python prices... and instead, point the the value of other fine handguns in relation to the Python. Going outside the guidelines of the Revolver forum, it seems to me that there are numerous semi-auto pistols that (arguably) occupy an arena of quality & performance in line with the Python that are very much under-valued and/or under-priced when we look at what the Python has done in the market.

The Python carries with it a mystique, legend and reputation that most everything else simply does NOT have, and that's obvious a large factor in it's price/value.

My point is that with half a million Python revolvers to sift through, it sure seems like you can get a whole lot of gun (in many different ways) if you spend your "special gun" money on something OTHER than a Python.

And I say that with all due respect to the legend of the Python. A Python owner can always look at anything you spent any amount of money on and simply say, "well, nice, but it's not a Python..." and he would ultimately be correct with that.

 

[bedbugbilly]

A few years back, I was able to by a 4" blued Python in pristine condition - no box or papers though. I got it for two reasons - the price (I got it dirt cheap) and I had always heard so much about the "Python experience". I took it to an indoor range just once. It was O.K. but not my cup of tea. A guy in the next station to mine was watching me shoot it and asked about it. I asked him if he wanted to try it and he put a couple of cylinders through it. Then . . . he started insisting I sell it to him. He became a real P in the A in less than 10 minutes. He kept raising his offer and I told him it wasn't for sale. Basically, at the price I got it, I decided to keep it as more of an "investment" tan anything else. I later found out that he's a doctor with more money than brains.

I know a lot of folks think they are the "holy grail" and that's fine. Everyubody has their likes and dislikes. Personally, I don't care for them. To me, they are a "boat anchor" - to much iron out front. But . . . that's just me.

I still have it and will probably hang on to it for a few more years and then sell it. If I sold it now, I could come close to tripling what I paid for it. I could shoot it any thime I want but I still love my 1952 S & W M & P. When I go shooting, that's what always goes along.

It's not that I dislike Colts - I don't. It just amazes me at what they bring though. But hey . . . if you like 'em . . . if you like a Python and can afford it . then more power to you and I say "go for it". As far as being a "piece of art" . . . art is in the eyes of the beholder.

 

[4V50 Gary]

Sevens - that link was to a very good read. Thanks!

Makes me happy I got mine when they were affordable. Ditto for the Diamondbacks (4" 38 Spec and 4" 22 LR). I took the 38 Spec. to school because the trigger did not return to its position of rest. I was going to fix it myself and earn some repair points (in addition to test scores and timed assembly/reassembly of specific firearms, we had to earn 750 repair points for an "A"). Turned out there was some electrical tape on the inside that caused the problem. It was a simple clean 'n lube (50 points) and not a repair job. Oh well. Got an "A" from all the other work.

 

[SaxonPig]

1. They quit making them. Can't buy a brand new Colt DA revolver from Colt at any price.

2. People still want them. Now it's almost exclusively collectors. Why do they want them so badly? Um...see #1.

3: As I always say with prices on guns, classic cars, whatever. There are guys out there with money. I'm not one of them, but they are out there and they are willing to pay for their toys.

4: I am still baffled that Pythons routinely sell for 3K+ yet Colt can't make a new one and sell it for a profit?

 

[CajunBass]

It truly DOES matter what we think,

No, it doesn't matter what WE think. We're not players in the game. We all pretty much agree we can't or won't pay the current prices for them. So we've folded our cards. It's up to those who are willing to pay those prices to set them. Apparently they haven't found the high limit yet.

(You know what? I couldn't and wouldn't back when you could walk into any
gunstore and buy one NIB either.)

 

[SaxonPig]

I always get a kick out of forum posts trashing Pythons. I guess it just proves that everyone has an opinion and a different perspective.

As for me, I decided long ago that the Python was the most deluxe and finely finished production handgun ever made. The Model 27 S&W comes close, but not quite. Again, right now some guys are reading this and screaming "I'll take the Smith over a Python every day!" Fine. Like I said, personal preference. But I own numerous examples of both and to me the Colt is clearly superior. All who disagree are welcome to their opinions. This is mine.

Does that justify the crazy prices on Pythons in recent years? Well, maybe. I recently saw an as new S&W Model 27 sell at auction for $4,300. It's not just the Pythons selling in the rarefied air. All classic, quality guns are bringing big money.

I'm glad I have my guns because I couldn't afford to buy them now.

 

[coldbeer]

Over 6 million m1 carbines were made but that hasn't stopped their prices from skyrocketing lately.

 

[Clark]

My brother got a Python Nov 2011 for $800.
I got a Python Dec 2013 for $1295.

That is 26% per year appreciation compounded annually.

Almost all guns, Leupold scopes, and guitars appreciate at 3% compounded annually, except SAA are higher and 16 ga Mossberg bolt action shotguns are lower.

I am left with the conclusion that my brother got a better deal than me and/or the prices have gone up faster than usual..... but mine has the original grips. Try looking for Python grips on ebay.

 

[highpower3006]

As I said earlier, the demand is driving the prices. As long as there are those that are willing to pay the price will stay high.

The quantity of them that were manufactured has little or nothing to do with the demand. As was pointed out earlier, six million M1 carbines produced hasn't stopped the prices rising due to increasing demand.

I wanted one for years because, well, I just wanted one. I am glad I got mine when I did as I just couldn't justify spending the money they want now for them.

This is what $875 bought back in 2009. Manufactured in 1964 and in about 97-98% condition. I'm not sure of what it would bring today, but I would think it would fetch around two grand +. It is not for sale at any price as I doubt if I could afford another.

 

[Slamfire]

I bought mine new, and since I can't afford to replace it, I am keeping it.



Even my M27 is getting a bit pricey to shoot!



It is getting to be that almost everything is too expensive to shoot!

 

[TfflHndn]

Sure wish my wife's druggie son hadn't stolen my King Cobra... I really liked that gun. Maybe it'll turn up in the police property room again (when it was stolen the first time, by an ex gf). If it does, I'm going to call it the King Cat, but I won't try to push the nine lives thing if I only get it back in my hands a third time.

 

[Clark]

TfflHndn
J my wife's druggie son hadn't stolen my King Cobra

What a nightmare.
I don't get scared by scary movies as I have little suspended disbelief.
But I believed that story and I have not been able to stop thinking about it.

I hope you forgive him, get a new revolver that is better, and keep it in the safe.

 

[JayCee]

Never had much interest in Pythons (that hideous full lugged vented rib barrel!), but I'm amused by the prices I'm seeing on Gunbroker and elsewhere. It's even spawned a cottage industry in fake boxes and papers, so scammers can represent that they have the "original box". Scammers are also passing off refinished Pythons as "like new", and apparently, there are enough suckers out there to keep the scammers in business.

Sooner or later, the bubble will burst, and I suspect there will be a lot of unhappy campers out there who got caught up in this buying frenzy, paid too much and later regretted it. I know I wouldn't buy a Python these days even if I wanted one and had the money.

 

[cohoskip]

Pythons are beautiful guns and I would love to have one, but they are priced way out of my league.
Having said that, I have a 1988 Taurus model 66 SS with 5 3/4" bbl that has a silk smooth trigger and accuracy is spot on. It seems to be a clone of the S&W.
I am happy with that piece...

 

[Savage99]

The Colt Python I bought new was not easy for me to shoot well. I shot my Woodsman well and a Colt 38 Spl. target well.

The Python would spit lead from the front of it's cylinder. Then the forcing cone split open on the barrel. Colt put a new barrel on mine for me as I watched as I live near them.

The recoil from the Python bothered my hand. I have large hands.

My buddy could shoot his 44 magnum Ruger Blackhawk better than I could shoot that 357.

I am glad I sold it. I still have the fancy Herretts grips I had made for it.

They were even worse for recoil as the checkering cut into my hand.

 

[gyvel]

Had a 4" Python acquired in the 80s, never shot it and sold it in the 90s for something like $450.00 (making a profit, of course), but NOW I wish I had kept it. Hindsight...