Record Breaking Year for Rock Island Auction Company

. January 4, 2008

Moline IL, December 8th, 9th, 10th, – Rock Island Auction Company shattered the industry record for sales in a calendar year with the recent success of its December Premiere Firearms Auction. Total 2007 sales for the auction house reached $28 Million – $9 million over the previous high of $19 Million set by RIAC last year. The December sale, which garnered nearly $11 Million, is also a company record for a single auction.

The December sale set several world record prices and overall the auction proved strong for all genres of firearms. The top seller in the auction was the finest belt model Paterson revolver, which set a world record for its kind by achieving a lofty sales price of $414,000. The other marquee firearm of the auction, the Tears of Gettysburg 1861 Colt revolver brought $368,000. Percussion Colts did exceptionally well, notably the 1860 Cased Engraved Army Percussion Revolver (sold for $143,750), Model 1861 Presentation Navy Revolver (sold for $97,750), Glahn-Engraved Pre-war Single Action Army Revolver (sold for $92,000), 1849 Kidder-cased Presentation Model Pocket Revolver (sold for $74,750), 1861 Factory Engraved Cased Navy revolver (sold for $74,750) and the Glahn-engraved Single Action Army Revolver (sold for $63,250).

A truly outstanding piece of the auction was the new in original box Volcanic pistol. This incredible pistol set a new world record price of $143,750. A very nice Henry rifle (the next generation of lever actions from the aforementioned Volcanic) brought $74,750. All across the board the Winchester rifles did very well.

Nearly doubling the previous world record price for a Singer 1911 was lot 3692, which brought $80,500. Generally speaking, the Colt 1911 and WWII military genres sold at the high end of the spectrum. An extremely rare Japanese paratrooper rifle brought $6,325, and another world record price was set when a Luftwaffe Drilling sold for $37,375. An extremely rare Luftwaffe shotgun – the companion piece to the Luftwaffe Drilling – sold at $12,650.

The Oriental art in the sale had mixed results. Some of the pieces sold very well such as a lot of two Cloisonné tea pots which sold for $4,313, while others failed to sell at all. For a first effort outside of the core business of firearms RIAC did very well.

The Frank Sellers collection led the way throughout the auction with outstanding results. When told what his collection brought in total dollar amount Mr. Sellers commented, “It was twice what I had expected.” Mr. Seller’s outstanding Kentucky and half stock rifles were in high demand as indicated by lot 2416 bringing a whopping $97,750 as well as lot 2407 bringing $46,000 and lot 2423 bringing $27,850. As a student of the history of firearms Mr. Sellers also collected many experimental and trials rifles. This area of his collection brought a lot of attention with lot 3173, an experimental Smith & Wesson revolving rifle bringing $9,775 and others such as lot 3349, a unique Civil War Trials Carbine bringing $8,050.

Mr. Patrick Hogan, owner of RIAC, stated “We knew we had a high quality auction yet the results surprised us all. I however am not amazed that the collectable firearms continue to do better in this economy. The stock market and uncertainty in markets in general have led people to seek “hard assets” and collectable firearms in my opinion are still very much under priced.”

Rock Island Auction Company is currently seeking consignments for their upcoming Spring Premiere Auction, to be held May 3rd, 4th and 5th, 2007. Rock Island Auction Company will accept single items or entire collections.

For more information please call 800-238-8022, or visit www.rockislandauction.com

Category: Auction News

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