New to guns! Question on value / possible trade of old handgun (1903 Colt) for new!

Hello!

I'm looking to purchase a new handgun at one of my local gun shops. I have a 1903 Colt .32 (pocket hammerless) that I received from my grandfather before he pasted away. I have never seen it shoot before, but it seems like it is working order. (average condition) I would like to trade or sell it for a new handgun and I have no clue what price I should ask for or expect. I was told that this gun was made around 1920 and the condition looks right for the age. It does have pearl grips which I was told that this is rare vs. the common "black" grips. Hopefully someone out there might give me an idea the worth of this gun.

Thanks!

Akira1

Hi Akira 1, gonna need a bit more information than what you have given. The Model 1903 .32 acp was made in 4 types with 4 variations within those types, also condition is very very important in pricing. A few clear pictures, and tell us the serial number(x out the last 2 numbers) will aid in getting you the information you asked for. Best I can do now is tell you it can be worth $300.00 to over a $1000.00 depending on what it is. The pearl grips may or may not help the price often the owners would replace the original with aftermarket grips for the look, but today they do not add to the price.

Hey sgms! Thanks for responding to my questions. The serial # is 1193xx. I'm having an issue uploading photos to this thread. Let me try again! - Thanks! Akira1

Sorry! I'm not able to upload these photos. (tried 3 times) I wish there was other way to can do this. Hopefully, you might be able to at least let me know which variation my gun is. Thanks again! Akira1

email the pictures and serial number to "guns and ammo" and the NRA (if you are a member)
also Colt can tell you the version and maybe price if you contact them

actually I wouldn't sell it

Recent sales of similar pistols have been for around the $600.00-to-$750.00 range, in good shootable condition. Check GunBroker.com or AuctionArms.com for the most recent quotes.
My .380 ACP Colt's M.1903 cost me $650.00, plus shipping. Its finish is about 70%, but it shoots extremely well, and it's reliable. I had to replace the magazine, for $35.00, to make it function.
Original pearl grips could add as much as $100.00 to your gun's price.

Auction Arms has a M1903/1908, in .380, on which bids are being placed right now. It is up to about $350.00, with eight days to go. Watch this auction, to get an idea of selling prices.
Gun Broker has a .380 in poor external condition, with ugly replacement grips. Its auction has just begun. There are two .32 M.1903s; one, at the end of its term, is at $700.00. Watch these, too.
Gun Broker handled a sale of an engraved M.1903/1908, for about $1,500.00. It's still showing.

Please remember that all quotes will be for the retail price. A gunshop will typically offer you 50% of that, although if it's used as a trade-in against a new purchase you ought to be able to bargain for at least 75% of your gun's retail-sale value.

The last place you want to trade it in, or sell it to, is a gunshop.

For the most part, they're neck and neck with pawnshops.

1. I have known gun dealers who were both honest and principled. They are few and far between, but they exist.
2. Profit margins on new-gun sales are among the lowest in US retailing, so there is a large incentive for the dealer to be a weasel.
3. If you know what your trade-in is worth, and you know the retail price of the gun you want, you have sufficient advantage to be a wise and cheat-proof customer.

A. Choose the exact gun you want first. Leave a minimum deposit, and have it set aside for you.
B. Return with your trade-in. Offer it at 100% of its retail value against the gun upon which you have set a deposit.
C. Begin to haggle. If you cannot get the deal you want, retrieve your deposit and leave. If that is not allowed, just leave, letting the store owner know that he has permanently lost a customer.
D. If your trade-in has been selling at retail for $800.00, it is fair to expect $600.00-worth of trade-in value (not cash) for it.

I can tell you more horror stories about gunshops and trading with them, then I can tell you good outcome stories. :watching:

I would not trade it or sell it to a local gun shop. Here in the Tampa area most will only give you 60% of the blue book value of the gun. When I was looking at getting rid of my M&P 40 I asked . The people working there told me I would make out better selling it privately.

Gramps gun? Sell it now regret it forever.

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Originally Posted by paratrooper

I can tell you more horror stories about gunshops and trading with them, then I can tell you good outcome stories. :watching:

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Yup. As I wrote, honest ones are few and far between.

Quote:

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Originally Posted by FloridaGuy

...Here in the Tampa area most will only give you 60% of the blue book value of the gun...

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Wow! That's 10% more than I would expect, if you're selling it for cash.
But I would expect to do better on a trade.

Ok by serial number the 1903 Colt pocket hammerless .32, serial number 1193xx is a type 3 made from 1910-1926 serial range 15051-468789. My 2 date by serial number references do not agree on year made so it was made in 1911 or 1912 depending on what source you want to use.
And just my 2 cents worth, I'd keep it just because of who gave it to me.

wow - good work sgms - i would keep the gun also

Wow dude, sentimental value should be worth way more than actual value. I just tracked down my late father's old mossberg bolt action 12 gauge and I am willing to do whatever to get it back.

I agree with others. I would keep it and make sure the grandkids get it. A 100 year old family gun should be worth more to your family than you will get for it.

Keep it in the family and sell something else if you have to for a new gun.