Smith & Wessons Lead The Way To $2.76 Million Day At Amoskeag

MANCHESTER, N.H.

: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."

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.

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.

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.