After setting a new industry record for yearly sales in 2008, Rock Island Auction Co. (RIAC) started off the new year with its February 6 and 7 regional sale reaching a record-setting $2.2 million †doubling any other previous regional sale in Rock Island history.
The huge success of this sale shows that not only are gun prices going up, but people are investing in what they know. More than 2,100 lots were offered that contained 4,300-plus firearms and lodge-type furnishings from the Will Hoffeld estate.
Regional sales at RIAC contain more affordable antiques and beginning collector’s items that normally attract “regional” bidders (usually people with in a five-hour radius). Distance was not an issue at this sale, however, as bids came in from all over the country; the number of bidders almost equaled the number of lots in the auction.
The gun market proved to be vibrant, as Rock Island experienced a record number of sealed preauction bids for a regional sale, more than 14,000, with a minimum average of seven bids per item †some lots had as many as 25 preauction bids.
Saturday started with a standing-room-only crowd at the 4507 49th Avenue gallery, and lasted throughout a good part of the day as bidding interest drove up the prices on many lots. Sunday continued the success of Saturday, also drawing a large crowd.
The top sellers include a frame of bullet molds from the Hoffeld estate, which sold for $3,450, more than four times the high estimate. M1 Garands and carbines were in high demand from the bidders; an excellent late production Winchester M1 carbine brought $4,025.
Nearly all the Smith & Wesson offerings were sold at or above their low estimate, including a Smith & Wesson #3 second model American revolver, which realized $2,300.
Other notable items were two German hunting swords with sheaths that reached $5,462, and a lot of two lever action carbines †a Colt Burgess lever action saddle ring carbine and a Whitney-Kennedy lever action saddle ring carbine †brought $7,475.
For more information, www.rockislandauction.com or 800-238-8022.
