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I recently bought an antique revolver from an estate auction for $95 and thought I had gotten a real deal, ....so I thought.
I saw the revolver listed in the Auction's detail page, listed as .32 cal H&R Revolver. I did some research online and found this gun listed from $300 - $500. My plan was to buy it cheap, for less than $200, and then turn around and sell it for it's value, maybe $350. I was going to be rich! haha.
As the aution attendees gathered around the firearms table, I noticed that there was only about 20 people there that actually looked like they were interested, so I was getting excited about maybe getting a deal.
The auctioneer goes over the rules and regulations about selling firearms to felons, blah blah blah....the more he talked, the better my chances were by narrowing down the eligible bidders. Getting more excited.
When the gun goes up for bidding, I started the bidding at $40, just to get it going. Another old-timer joined in on the bidding and soon it was up to $95 and the old-timer had stopped. I figured that he just wasn't interested in investing $95, and was looking for just a wall hanger for cheap. I HAD GOT THE DEAL I WAS LOOKING FOR!...so I thought.
I took the gun to a gun dealer in my local town who had access to an antiques firearms priceguide...I'M IN LUCK. He sorted through the pages, until he came to the H&R revolvers, and to my suprise he had found the following: The gun was made around 1900 or 1905, with 2 patent dates stamped on top of the barrel 1887 and 1889 (as my research proved as well). The value of my gun was roughly $110 in great condition. SIIIIGGGGHHHH.
My research before I bought the gun forgot to take into consideration that there were multiple models made around the same year ranges, with different patent dates, but basically look the same. Other models of the same gun, valued for around $500, as my poor research proved like I said, however, I was researching the wrong gun the entire time.
Lesson Learned: Don't research based solely on pictures. Find the model number and any markings that will assist you in correctly identifying the gun,......then find the value of it, not the other way around. Also, always guage the old-timers. When the old-timer stopped bidding, I should've learned something. He knew the value of the gun....I didn't.
AND PS...the gun dealer said he wouldn't shoot it because it would shave bullets, possibly causing harm to myself and bystanders.