: Amoskeag Auction Company's much anticipated sale of the Gary
Garbrecht collection of fine Smith & Wesson revolvers turned
out to be quite a show on September 24. It was perhaps the finest
collection of Smith & Wesson revolvers to ever come to
market, built over 40 years of collecting.
Garbrecht had good taste, a good eye and the means to acquire the
guns that he wanted. Most of the guns in the collection were
acquired through private sale with very few coming to him through
auction. Presenting this collection at public auction caused a
highly competitive battle for many of the pieces. People referred
to the sale as a "blood bath" and "a feeding frenzy"; phone
bidders were told to "forget the estimates."
Smith & Wesson factory exhibition engraved new model No. 3
revolver, $86,250.
The sale's first item was an engraved Model 1 second issue
revolver in its original gutta percha case. The auction house had
estimated it at $7/9,000 and it opened at $4,000. After a brief
hesitation, the lot took off with numerous bidders on the floor and
on the phones participating. It sold to a bidder on the floor for
$19,550.
The sale's top lot was a Smith & Wesson factory exhibition
engraved new model No. 3 revolver, which sold for $86,250. The
next three highest performing lots were also Smith & Wessons
and 15 of the sale's top 20 lots were Smith &Wesson firearms.
A Smith & Wesson Volcanic pistol estimated at $10/15,000 made
$24,150; a Nimschke engraved No. 3 first model Russian wore an
estimate of $25/35,000 and traded to the phone at $51,750. A
Kornbrath engraved .22 single-shot pistol was estimated at
$20/30,000 and after a spirited battle, went to a determined
phone bidder at $57,500.
The Columbian Exposition guns were sold as items 50 through 56
and turned out to be most highly sought after. Their cumulative
estimate was $96/140,000 and they sold in a span of four minutes
for $370,875.
Smith & Wesson factory exhibition engraved .44 DA revolver,
$63,250.
The sale's second highest lot, a Smith & Wesson engraved
revolving rifle, sold within estimate at $69,000. An engraved Smith
11/2 sold for more than four times its high estimate at $14,950.
The Ira Paine new model No. 3 wore an estimate of $25/35,000 and
sold on the floor at $43,125. A well-known factory set consisting
of a No. 2 cased together with a 11/2 , was purchased at auction in
2001 by Garbrecht for $8,050, and sold on the floor at $24,150.
This was the story of the day, with a list of exceptions that
could be counted one hand. Other items that were not from the
Garbrecht collection also fared well, including a deluxe 1876
Winchester rifle that sold within estimate at $37,375. Class III
items were strong as usual, with a Thompson 1921AC submachine gun
selling above estimate at $34,500, and a Winchester BAR also
selling above estimate at $26,450. Most other Class III were
within estimate.
In all, there were 498 registered bidders from 41 states as well
as England, Germany, Italy and Japan. One buyer on the floor
spent in excess of $500,000; two other bidders on the floor as
well as one on the phone spent in excess of $250,000; in all, six
customers spent more than six figures.
Kornbrath engraved Smith & Wesson .22 single-shot pistol,
$57,500.
Rounding out the sale' top ten lots were a Smith & Wesson
factory exhibition engraved .44 DA revolver, 63,250; Smith &
Wesson factory exhibition engraved first model single shot,
$63,250; Smith & Wesson factory exhibition engraved new model
No. 3 revolver, $51,750; Smith & Wesson factory exhibition
engraved first model single shot, 43,125; Smith & Wesson new
model No. 3 revolver belonging to Paine and Winans, $43,124.
It was a tremendous day for Amoskeag, according to company
officials, with sales doubling its previous highest grossing
sale.
Prices reported include buyer's premium. For information,
603-627-7383 or www.amoskeag-auction.com.
