Valuation Of Oddball Colt

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  • A coworker has a NIB, Colt King Cobra, 2.5", bright stainless, with a letter from Colt.
    He is unable to determine value via "normal" routes, as not enough were made for them to appear in books. Does anyone know anything about this particular model?
     

    fidelity

    piled higher and deeper
    MDS Supporter
    Aug 15, 2012
    22,400
    Frederick County
    Along with resident experts like MAnderson, Python, and TheMexicanBob (and probably another few that I can't recall screen names of), I would check the Colt forum. Lots of helpful folks, and he'll likely get outright offers. I don't know this lineage of King Cobra, but because it's rare, NIB, and has the box and paperwork, wouldn't be surprised if it's $3k or higher.

    Sent from my Pixel XL using Tapatalk
     

    TexDefender

    Ultimate Member
    Feb 28, 2017
    1,572
    Along with resident experts like MAnderson, Python, and TheMexicanBob (and probably another few that I can't recall screen names of), I would check the Colt forum. Lots of helpful folks, and he'll likely get outright offers. I don't know this lineage of King Cobra, but because it's rare, NIB, and has the box and paperwork, wouldn't be surprised if it's $3k or higher.

    Sent from my Pixel XL using Tapatalk

    Just looking around I would say that would be a good appraisal, certainly in the ball park. The Snakes always seem to grow in value, I would insure it for at least that much.
     

    TheOriginalMexicanBob

    Ultimate Member
    Jul 2, 2017
    32,176
    Sun City West, AZ
    In an auction it might bring north of $3k...but that's in Python territory...neither of which I would pay that kind of money. The market changes every day...today no one but those looking for a bargain and next week maybe someone (or two...it takes at least two to drive the prices up) with money burning a hole in his pocket wanting to make sure someone else won't get it.

    A nice piece, to be sure...but there are too many Colts out there for much less that are at least as desirable to me. The King Cobra is a tank tough, well built revolver designed to take an unlimited amount of magnums but there are many Colt collectors who won't accept any Colt revolver but those with the older V-spring action with all milled parts rather than the more modern coil spring action of the Mark III, Mark V, King Cobra and Anaconda revolver that have some MIM parts.

    The King Cobra is a fine heavy duty revolver for use in the field, for personal defense or duty. I just don't see the kind of prices they bring just because they have a snake name...unless I'm the one selling it.
     

    python

    Active Member
    Apr 15, 2010
    600
    There is one on the S&W forum that was listed for $3450. Allegedly, it was sold on another site.
     

    Mike OTDP

    Ultimate Member
    Feb 12, 2008
    3,318
    GunBroker has a feature that will let you search completed auctions. I've found this to be a fast, cheap way to get a reasonable estimate of value for anything but the most exotic items.
     

    manderson

    Ultimate Member
    Jun 3, 2008
    1,243
    If truly like LNIB with the original box, papers and a Colt letter, it would probably fetch 4K on GB. I have no idea how many KC snubs were made, but way less than the 4 and 6 inch.
     

    j_h_smith

    Ultimate Member
    Jul 28, 2007
    28,516
    All he needs is 2 people that need this in their collection and the value would skyrocket. If it's as rare as he believes, there's no real estimate that can be made. The likelihood of seeing another one of these for sale would probably be nonexistent.

    If it were me, I'd do a GB auction with a reserve of $4-5k. See what the market will bear. If it doesn't sell, he will at least get some indication as to what people are willing to spend on it. If it sells, hopefully there will be at least 2 bidders that can't live without it and will bid accordingly.

    Good Luck!
     

    manderson

    Ultimate Member
    Jun 3, 2008
    1,243
    If it's as rare as he believes, there's no real estimate that can be made. The likelihood of seeing another one of these for sale would probably be nonexistent.
    It's not that rare, but with all of the original trimmings and the Colt letter, it will bring a premium. Sellers on GB have high starting prices or reserves that are not selling. A LNIB blue KC snub recently sold for $3800. I think the blue snub is more rare than the bright stainless. A really nice used bright stainless without the box had a high bid of $2800, but did not meet the reserve. 4K max on this, unless a couple deep pockets start a bidding war, which I seriously doubt.
     
    If truly like LNIB with the original box, papers and a Colt letter, it would probably fetch 4K on GB. I have no idea how many KC snubs were made, but way less than the 4 and 6 inch.

    It's not that rare, but with all of the original trimmings and the Colt letter, it will bring a premium. Sellers on GB have high starting prices or reserves that are not selling. A LNIB blue KC snub recently sold for $3800. I think the blue snub is more rare than the bright stainless. A really nice used bright stainless without the box had a high bid of $2800, but did not meet the reserve. 4K max on this, unless a couple deep pockets start a bidding war, which I seriously doubt.

    OP here- It is NIB and never turned. According to him, the combination of bright stainless and 2.5" barrel is rare enough there are no guidelines on the value. I will ask him to join MDS and give better details.
     

    TheOriginalMexicanBob

    Ultimate Member
    Jul 2, 2017
    32,176
    Sun City West, AZ
    While a King Cobra is a truly fine revolver...and the snubby version is uncommon...it's still priced above value for utility. A .357 snub to be carried concealed should have fixed sights...no snag...no sharp edges. I have a Lawman Mark III nubby which is just as good a revolver as the King Cobra and more practical and priced far less. But this thing about snake guns is a different thing altogether. It makes little sense unless you were in on it at the beginning when you could make some serious coin selling it. Paying the current rate will get you a super nice revolver but you'll never make money on it on the other end...especially once the bubble has burst which many believe it has.
     

    Biggfoot44

    Ultimate Member
    Aug 2, 2009
    32,881
    Eh . All the Snake Guns are currently selling for way above their utility value , and are highly volitle .
     

    Aventus

    Banned
    BANNED!!!
    Sep 5, 2016
    778
    A coworker has a NIB, Colt King Cobra, 2.5", bright stainless, with a letter from Colt.
    He is unable to determine value via "normal" routes, as not enough were made for them to appear in books. Does anyone know anything about this particular model?

    Bluebooking a Colt is a pain for me. The King Cobra was accurate and a good firearm but lacked the finer touches of the Python and others. The hammers and triggers were sintered and the KC didn’t get the best bluing and hand fitting of other Colts. I tried to buy this stainless model off GB in 2016 but didn’t get it. I think the final price was around $1,800.00. As we all know, when it comes to the snake guns and price, anything is possible!

    Is your coworker plus 50 in age with bills to pay? They always are and if he's serious, I'm interested in buying.
     

    manderson

    Ultimate Member
    Jun 3, 2008
    1,243
    it's still priced above value for utility.

    You are stating the obvious. A 4K Wilson Combat is priced way above utility value. Mint LNIB Colt snake guns are now collectibles. Buyers are looking for safe queens. Talk about 80-90% Colt DA's and we'll start talking utility value.

    It makes little sense unless you were in on it at the beginning when you could make some serious coin selling it. Paying the current rate will get you a super nice revolver but you'll never make money on it on the other end...especially once the bubble has burst which many believe it has.

    The bubble has burst, and anyone paying exorbitant prices for snake guns shouldn't be thinking about purchasing as an investment. Frankly, I have never bought any firearm with the thought of return on investment.
     
    Jul 1, 2012
    5,711
    A coworker has a NIB, Colt King Cobra, 2.5", bright stainless, with a letter from Colt.
    He is unable to determine value via "normal" routes, as not enough were made for them to appear in books. Does anyone know anything about this particular model?

    Bluebooking a Colt is a pain for me. The King Cobra was accurate and a good firearm but lacked the finer touches of the Python and others. The hammers and triggers were sintered and the KC didn’t get the best bluing and hand fitting of other Colts. I tried to buy this stainless model off GB in 2016 but didn’t get it. I think the final price was around $1,800.00. As we all know, when it comes to the snake guns and price, anything is possible!

    Is your coworker plus 50 in age with bills to pay? They always are and if he's serious, I'm interested in buying.

    Sometimes Blue Book is amazingly accurate, and others, amazingly wrong :)
    First step is to make sure the pricing is current - some of the older Colts for instance haven't been updated in 10 years!

    For info, the current Blue Book (from the online) for 98% stainless King Cobra, 2 1/2" is $2500 (updated recently, plot shown below).
    The King Cobra "Ultimate" Bright Stainless is $2850 for 98% (not sure which this is).

    They don't list 100% because:
    "100% values have been intentionally omitted, as ascertaining accurate values is very difficult and not predictable."
    So $3000-3500 is not unreasonable for a mint NIB gun (or more if it's the bright stainless), the box & Colt letter do add a bump as well as the condition, and typically exponential increase from 98% to 100% NIB.

    For comparison, the BLUED King Cobra 2 1/2" is $3500 at 98%.

    Pricing on the stainless has been pretty stable over the past 3-4 years, the blued is all over the place.

    In the end, it's worth what someone is willing to pay for it on a given day.
     

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    TheOriginalMexicanBob

    Ultimate Member
    Jul 2, 2017
    32,176
    Sun City West, AZ
    Bluebooking a Colt is a pain for me. The King Cobra was accurate and a good firearm but lacked the finer touches of the Python and others. The hammers and triggers were sintered and the KC didn’t get the best bluing and hand fitting of other Colts.

    The King Cobra hammer and triggers are investment castings. Earlier Mark III series revolver used sintered metal technology which is a form of MIM manufacturing.

    The Mark III, Mark V and King Cobra/Anaconda series of Colts were designed to require less hand fitting thus less expensive to make. They're not Pythons and were never intended to be. They are very fine revolvers in their own right but the Python is in a class by itself.
     

    Biggfoot44

    Ultimate Member
    Aug 2, 2009
    32,881
    Snake Gun values have little to do with their merits as actual Firearms . For better or worse , their pricing has to do with their perceived worth as gun shaped Collectables .
     

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