Gun guys

[straycat]

I have a chance to pick up a Colt model M hammerless auto in .380
Its a 1908 model in nickel. Not in pristine condition but a solid functioning gun.
I know the model M was pretty popular back in the 20's and 30's and was made up until the 1940's
Colt anything always seems to go up in value so I feel safe in that regard.
The guy is asking $800.00 but I'm sure he will go down on his price.
I didn't act overly excited when he showed it to me but I do want it just for collector value and flip it down the road on a Garand or something similar.
He wants my late production K 98 Mauser but I really hate to get rid of it because its super clean.
So if you have any idea of its value please post what you think I should offer.

[LouSiffer]

MODEL 1908 POCKET (MODEL M .380 ACP)
- .380 ACP cal., first issue, 3 3/4 in. barrel only, similar to Model M .32 ACP, except chambered for .380 ACP. Mfg. 1908-1940.
Grading
100% 98% 95% 90% 80% 70% 60%
$1,650 $1,475 $1,200 $900 $800 $700 $450
Add 15% for Type I (see explanation below).
Add $100 for nickel finish.
Add 50% for factory pearl grips.
100% values assume NIB condition. Subtract 15% if without cardboard box. Pearl grips are normally encountered with nickel finish on this model.
Type I - 380 ACPs with barrel bushing and were mfg. 1908-1910 (6,251 mfg.). They are serial numbered 1-6,251.
Type II - 380 ACPs do not have a barrel bushing and were mfg. 1910-1926. They are serial numbered 6,252-92,893.
Type III - 380 ACPs have the added magazine safety (of which there are both the commercial and "U.S. Property" variations). They are serial numbered 92,894-134,499.

[xenophobe]

A lot of people mis-grade nickle guns. It's not just how much of the finish remains, but how well the polish has survived as well. Also, a lot of them are re-buffed and that hurts the value as well. And most Colt collectors are looking for really nice examples, so when it comes time to move it, you might have some trouble unless you price it to move. And if you shoot it, only shoot ball ammo. No defense loads, as they're usually higher pressure.

[straycat]

Good info thanks Lou and Xeno.

[xenophobe]

Anytime!

[straycat]

I'm going to check it out again this weekend maybe and consider it now that I have more knowledge.

[Razor]

Realistic prices I'm seeing on Colt 1908's is three to five hundred dollars. If it's not a factory nickel, and most are not, that is going to kill it's value. Just because it's a Colt, doesn't mean it's worth $800.00. The past two gun auctions I went to had two nice 1908 380's sell for $375.00, and they were in at least good 85 to 90% blued condition.

If it's factory nickel then everything I just said went out the door. My gut feeling is that it's a $500.00 pistol.

[straycat]

Didn't get a chance to see it today had to leave early to head to an out door band gig about 80 miles away.
I'll check Monday.I was thinking $500.max even if its a factory nickle gun.