Bids Overflow for Volcanic Pistols in San Francisco

SAN FRANCISCO, CALIF.

:Greg Martin Auctions' recent expanded sale generated more than $4.5 million in total sales and a world-record price for Volcanic pistols sold at auction.

In addition, the collections of arms sold to benefit The NRA (National Rifle Association) Foundation Endowment and the NRA National Firearms Museum realized more than $500,000 in sales; a part of these net proceeds will fund the establishment of the foundation's new Greg Martin Auctions Endowment.

The sale, which was conducted over three days to accommodate more than 2,600 lots, a company record, took place at Greg Martin Auctions Gallery and was simulcast on the East Coast.

According to Greg Martin, "The auction continued three days nonstop without a break, the sell-through rate exceeded 90 percent, and we had an enthusiastic crowd from around the country that actively bid in San Francisco and New York, by telephone and via the Internet. We [saw] a number of new bidders and the appearance of serious new collectors from the West Coast."

Highlights of the sale included $123,750 (a new world record) for a unique and exceptional double cased pair of rare ivory gripped No. 1 pocket model New Haven Arms Co. Volcanic breechloading repeating pistols. Pairs of Volcanics are extremely rare; this set, from the collection of King Farouk of Egypt, is the only known cased pair and well exceeded its estimate of $70/90,000.

Realizing $168,750 was a cased Texas Paterson revolver with low serial number, 33, and an important Henry lever-action repeating rifle, believed to be the finest ever offered at auction, exceeded its estimate of $90/125,000 to bring $151,875.

Other highlights included $101,250 for a factory-engraved Henry lever-action repeating rifle with rare spotted panther motif engraved on the frame; and $84,375 for a rare Clark, Sherrard & Co. Lancaster, Texas, dragoon revolver that was winner of the NRA Silver Medal No. 188, awarded in 1979.

A sum of $61,875 won a pair of enormous, trophy-sized African elephant tusks from the entrance of Abercrombie & Fitch's gun room in San Francisco, which were taken in 1961 and would be impossible to obtain today; $22,500 purchased a scarce 1920 Model W, Sport Series Harley-Davidson motorcycle, once owned by the famed Harrah's Automobile Collection; and $10,125 won a rare Confederate States of America officers cavalry sword by Kraft, Goldschmidt & Kraft of Columbia, S.C.

Prices reported include the 121/2 percent buyer's premium.