Why is the Colt Python So Popular?

Click Here To View Colt Pythons For Sale In Our December 2016 Auction

Around Rock Island Auction Company, collector firearms are a way of life.  Whether it's guns from the Old West, Class III machine guns, or the firearms used in any number of wars and conflicts, they tend to enjoy a perpetual popularity.  Their place in history is significant if not downright important, and people will always be fascinated by that.  It's rare then that a genre of firearms or a particular model would enjoy a sudden upswing in popularity.  New historic events, by their very nature, don't happen frequently.  So when a firearm or class of firearms experiences a rapid rise in popularity, collectors take notice.

This Colt Python is blue with a 4" barrel and was manufactured in 1968.  It is Lot #1
in our February 2015 Regional Firearms Auction.

Of course, saying that the Colt Python is experiencing a "rapid upswing" is a bit of an understatement.  It's been more of a rocket ship for these trusty wheelguns.  We covered some of their growth back in October 2013 in an article entitled, "Stocks, Bonds, or Barrels?"  In that story was the table below, which showed the steady increase of the gun in recent years.

Those figures were obtained from sale averages achieved by Rock Island Auction Company and they are a direct representation of what the market will support (because it did).  Finding the upward trend is not difficult.  What's more astonishing is what happened in 2014.  Our December 2014 Premiere Firearms Auction contained a good selection of Colt snake guns and our auction hall absolutely came alive when it was time for them to cross the auction block.  We wrote about it in a post-auction article which described the events as,

"The end of Saturday was quite a surprise to everyone in attendance. As Colt “Snake Guns” began to cross the block, the auction hall began to buzz. Every phone line was filled and online bidders began to make their presence felt as numerous collectors scrambled to own one of the popular revolvers. Bids couldn’t be taken quickly enough as the values soared and jaws dropped while the numbers reached previously unheard of heights. A feeding frenzy had begun. An R. L. Wilson special order Colt Python in lot 1789, with a high estimate of $4,500, would see a sale price of $11,500. Another Python, this time a scarce, inscribed, three-inch barrel Combat Python with its original box in lot 1792, would go even higher and sell for $12,650. These numbers were not rare! Numerous Pythons, Anacondas, Cobras, and Diamondbacks would exceed the $5,000 mark and many surpassed the $10,000 mark. It could indicate an extremely interesting trend for those who seek or collect these revolvers."


If we included 2014 on the table shown above, it would have an average sale price of $3,805.88, and that even includes an adjustment for a cased set of "Snake Eyes" Pythons to be counted as two separate guns.  So what gives?  Why has the Python, a revolver that's been around since 1955, all of a sudden seeing some pretty explosive growth in the last three years?  Let's take a look shall we?

Quality

The issue of high quality has not been an issue for the Colt Python.  If anything, there is the rumor that later quality Pythons fell away a bit from their initial high quality.  That said, there certainly wasn't any revamping of the Python that would've increased its quality and therefore popularity among collectors.  In fact, when it was introduced in 1955 it was done as a premium revolver, designed to compete with the finest double actions available.  It succeeded. A number of its design aspects such as its balance, weight, smooth trigger, and small tolerances gave the gun a refined feel, high accuracy, and reliability that few have matched.  Colt Historian R.L. Wilson has a well-cited quote, calling the Python the "Rolls-Royce of Colt revolvers" and the well-known British author and firearms expert Ian V. Hogg called it the "best revolver in the world."  High praise from reliable sources indeed, but the superior quality is hardly a recent development and cannot account for the surge in prices and popularity.

This Python, manufactured in 1956, sold in our December 2014 Premiere Firearms Auction for $11,500.

Looks

To put it simply, the Colt Python just looks like a big, powerful, classic revolver.  It's fat, simple grip, beefy snout, and swing out out cylinder make it baddest man in the room that never has to tell anyone for them to know.  There's no over-sized, unmanageable caliber.  No ostentatious advertising campaigns.  Just a simple, well-made revolver that's not a design fad.  Well, OK.  Maybe there used to be some pretty gaudy ads, but it's safe to say that those were before their meteoric rise.

Yikes.  You probably shouldn't try to take this Burmese python's Python.

Practicality

It's difficult to argue against the practicality of a well-made gun.  After all, if a firearm isn't well made and in turn doesn't perform reliably, how truly practical can it be?  Not only is the Colt Python built to do what it does very well, but it has been proven to be a practical tool in the hands of many police officers.  The Python was a fine option for law enforcement officers before the shift to semi-automatics began to grip the land.  In any case, the time the Python spent in service gave it a "field test" that many firearms do not receive.  If it had performed poorly in the field, that would not escape its history.

Also attesting to the practicality of the gun is its choice of caliber.  In its standard configuration of .357 Magnum, the gun packs plenty of power for nearly any law enforcement group, some fun range time, or even defending one's castle.  The caliber has been around since 1934, is a standard cartridge for most stores to carry, has excellent power, and shows no sign of going anywhere.

Politics

Granted, a portion of the Python's rise in price and popularity is the same rise enjoyed by nearly every other type of firearm.  Talk of legislation against firearms drove sales like none other.  People want to make sure they have the guns they want in their possession should the worst occur.  Part of the Python's price may have risen due to this, but if this were the sole cause we would similar rises across the majority of firearms and not this particular model.  It was easy to see a rise in price of "black rifles" and AR platform semi-automatic rifles because those were in the most danger of having legislation passed against them.  Modern sport rifles were unquestionably targeted the hardest (despite handguns being the weapon of choice for criminals, but that's another story).  Meanwhile this solid wheelgun received almost NO attention from the media or anti-gun groups because it's not a semi-automatic, its price doesn't make it attractive to criminals and it is therefore unlikely to be used in crimes (high profile or otherwise), and it only carries six rounds, a temporarily acceptable number for anti-gunners.  The Colt Python would not have been on anyone's radar for anything other than being a handgun, so while it may have enjoyed a small bump from potential legislation, it's nothing that would push it anywhere close to its current prices.  Besides, modern sport rifles have already seen their bubble burst.  If Pythons were riding that same bubble, they would have fallen right along side them.

Media Appearances

Maybe here is where we start to get to the meat of things.  First of all, let me say that I'm well aware that the use of Colt Pythons in TV and movies extends back decades.  While popular trivia may let us know that the Colt Python was the sidearm of choice for Hutch on 1970s TV show "Starsky & Hutch," it is not well known that its use can be traced back as far as 1969 according to the Internet Movie Firearms Database. The gun's classic, tough looks allow to be an "every pistol" in a number of TV shows and movies - always looking the part for some lawman in the 60s, 70s, and even 80s.  That said, why wasn't the Python more popular than this before now if it was featured so frequently?

The Colt Python as seen on AMC's "The Walking Dead"

        1.  Movies  Several factors could be at play, any of which would require more research to confirm or refute.  The first is that more people go to the movies today than ever before.  Modern box office numbers are untouchable even when counting for inflation.  More people watching means more people see these guns being used and possibly falling in love with this big, sturdy-looking revolver.  This is likely the weakest of the hypotheses.

        2.  Streaming TV could also be a factor.  For example, the Colt Python is featured prominently in the current television series "The Walking Dead."  Wielded by lead character Sheriff Rick Grimes, the gun is being seen by record numbers of people who tune in to see this wildly popular show.  The show initially airs on AMC, a premium cable network.  However, previous seasons of the show are also available on streaming services such as Netflix or Amazon Instant video for a comparatively modest price, as low as $7.99 for a single month.  Enjoying the current popularity wave of zombie culture, the success of Walking Dead, and widespread availability of both means the Python is being seen almost weekly by record numbers of people.  You can't buy that kind of advertising.

Here is how the Python appears in the video game
Call of Duty: Black Ops

        3.  Video games. I know, I know... video games get blamed for everything from bad grades, to obesity, to any number of crimes, both the benign and the violent.  However, the popularity of video games is not something to be overlooked.  Most notable of video games sparking an interest in firearms is the Call of Duty series.  Stretching back all the way to 2003, the COD series of games has featured real life weapons in nearly every single title.  Since its inception COD has over $10 BILLION in sales, each one teaching a player the appearance and gross characteristics of say, an M1 Garand, an MP5, a G36C, a BAR, a P90, a G11, a Type 99, and even what different shoulder launchers look like.  Many are quick to poo-poo the knowledge of COD players, which if based solely on gameplay would be admittedly thin, but would be hard pressed to find a more effective  tool for teaching rudimentary knowledge (appearance, action type, caliber) and spurring enthusiasm.

The Colt Python has been featured in video games where it is mostly listed as a ".357 Magnum" or "revolver," but the appearance in unmistakable.  The video game Call of Duty: Black Ops, the seventh of the series, featured the Python by name (without mentioning Colt).  It sold a total 5.6 million units in the U.S & U.K. in the first 24 hours.  That's $360 million in sales in 1 day, and $650 million in 5 days worldwide!  Even the acclaimed American Sniper movie released last week "only" landed a record $105 million opening-week box office.  Granted, video games are more expensive than movie tickets, but the numbers are still staggering.  Plus, while someone might only see a movie once in the theater, players are literally dumping days of time into these video games, playing them over and over again.  That's a lot of eyeballs learning that the Python, typically programmed in games to be more powerful than its semi-automatic counterparts, is for lack of better term, one mean mother.

This Python, manufactured in 1968, will also be appearing in our February 2015 Regional Firearms Auction.
It is Lot 73.

So with its popular appearances, and more media than ever being available to more people than ever, does that all translate into more sales?  Do those sales help diminish the supply and raise the price?  After all, how many kids playing these video games can legally buy a Python, let alone afford one?  That is true, and a large portion of those playing the video games will be under the legal age to purchase a handgun,  However, there are still millions playing that can buy a handgun.  Many of the children who grew up playing video games are now adults or young adults that play video games and those adults have adult sized  pocketbooks.

However, what all these mediums and popularity accomplish is to introduce a powerful, glamorized, and beautiful gun to an extremely large group of novices.  Even a small number of purchases by this newly enthusiastic group would have a large effect on the hundreds of thousands of Colt Pythons available.  This in turn, has a snowball effect.  Collectors see the supply of Pythons getting slimmer.  It's harder to find a Python for anyone that wants one.  Better snap one up before they're gone, right?  Now collectors are buying Pythons too, further depleting the available supply and also contributing to increased prices.  Casual gun buyers also find out how desirable they are and look for good deals on Pythons, further driving demand and price and it just keeps going.  Pretty soon, folks that can't get Pythons turn to Anacondas, Cobras, Vipers, Diamondbacks, and other Colt "snake guns."  Can't get a snake gun or afford one?  There are some attractive, fat-gripped Smith & Wesson revolvers that just might do the trick!  The popularity and demand for the Python is truly astounding, not only does it affect its own price and availability, but also guns similar to it.

What Does It All Mean?

But who cares right?  Why should we care about the price of a single model of revolver enjoying a bit of a renaissance?  Well, for folks who want one, it can be somewhat important, but for collectors and folks using firearms as their retirement fund, the ramifications can be even more important.  Even if you have no desire to own one, you may stumble across one at an excellent price and stand the opportunity to make some profit, but you have to know the opportunity exists in the first place.  That would potentially be a pretty quick turnaround for some profit, but the other two groups mentioned have some larger questions in mind.  For example:

• Is this another bubble like we just saw happen to the AR platform rifles?  If so, casual purchasers as well as collectors and investors could probably stand to wait for the price to come down if they still want one.    
• Is this the ground floor?  How many years can Pythons experience consistent growth?  If your experience tells you they're not slowing down anytime soon, this would be a great time to invest in multiple Pythons.  
• Will they plateau?  Instead of falling as in a bubble or rising over decades like Colt percussion revolvers or antique Winchester lever actions, could the guns simply be adjusting to a new market value where they will eventually stabilize?

There are all sorts of possibilities of what could happen to Pythons, snake guns, and the revolver market in general.  No one can say for certain what the end result will be, but two things are certain.  It's going to be a heck of a ride to find out, and I still want one in my collection.


-Written by Joel Kolander

This Python Hunter sold in our December 2014 Premiere Firearms Auction
for an impressive $4,600.

Interesting Facts from the December 2014 Premiere Sale

Our December 2014 Premiere Firearms Auction had a few surprises for us.  Sure, it was as successful as ever with its realized total of $11.4 million, but that success came from some interesting places.  Some of the "old reliables" maintained the grip of their popularity, other genres and models experienced a surge of renewed interest, and some were way out of left field.  Today, we'll take a look at a few of the pieces that livened up the auction and whose results may not have been entirely expected.

Read our full auction write-up by clicking here.

Highest Performing Item Overall (Based on Highest Percentage Over Estimate)

Lot 1799: Colt Python Double Action Revolver

Low Estimate: $1,200

Realized Price: $11,500

"Highest Performing," for the purposes of this article, means the item that sold the highest percentage over its low estimate.

Colt Pythons have really enjoyed upswings in both popularity and price in the last several years.  The love for these high quality, fat-gripped wheel guns has carried over to other Colt "Snake Guns" and even into large Smith & Wesson revolvers for those unable to afford the reptilian revolvers.  This particular revolver remained in near perfect condition and was manufactured in 1956, making this a second-year production.  That early production also means it bears the remarkably low serial number of 543.  Perhaps even more staggering is that this isn't even the highest price brought by a Python in this auction, a honor belonging to lot 1795, which sold for a princely $14,950.

Highest Performing Antique

Lot 175: Custom Engraved Civil War Colt Model 1860 Army Percussion Revolver with Factory Letter Shipped to the New York Arsenal

Low Estimate: $3,000
Realized Price: $19,550

This classic Colt percussion revolver enjoyed a little more attention than usual thanks to its attractive customization, but moreso because of details in its factory letter.  First off, the letter details the gun as having a "blue/brass" finish and wood grips.  It's easy to see that the grips have been replaced with antique ivory that bear a carved eagle clutching an American-style shield in its talons.  In closer-up photos, one can also tell that the revolver has been custom engraved and that the front sight is made from German silver.

While those changes will appeal to some collectors, certainly its shipping destination will endear it to a larger number.  The factory letter lists that this revolver was sold to the "United States Government" and shipped to the "Commanding Officer" at the New York Arsenal on Governor's Island, New York on June 18, 1863.  That's a pretty intriguing history on a model of revolver that already has cemented its place in U.S. military firearms lore as the primary cavalry handgun from its adoption until the introduction of the legendary Model 1873.  The combination of looks, history, and a classic arm was too good to ignore.

Most Popular Item

Lot 3787: Colt Python Double Action Revolver

This is a tricky title to give, as we're measuring it by the amount of bids an item received.  The amount of pre-auction sealed bids go a long way into consideration and are easy to calculate, but how do you measure live participation?  Numerous buyers can raise their card for one bid, but the auctioneer can only take one, so it's difficult to measure how many bids an item truly received.  Not to mention the online participation, where the same scenario could unfold and you'd never even have the chance to see additional bidders.

That said, and with some wiggle room figured in, we claim a four-way tie between four lots of Colt snake guns!  Lots 1799 (the highest performing item overall), 1797, 3787, and 3790 all averaged around 50 bidders each!  That makes these three lots of Pythons, and one containing an Anaconda and a King Cobra, the most sought after items in the auction!  The best part is, we didn't need to look at the numbers to know it.  The bids were pouring in the minute these guns crossed the block and every single phone line was occupied with a bidder waiting for a chance to win one of these revolvers.  The buzz in the auction hall told this story before the numbers ever could.

Oldest Gun Sold

Lot 3093: Highly Ornately Gold, Silver, Pearl, Coral and Bone Inlaid Ottoman Miquelet Rifle

Low Estimate: $1,400

Realized Price: $3,162

There are many that feel these ornate antique guns are greatly underappreciated.  The high level of craftsmanship, the luxurious materials, and the aesthetics are often found far under the price of what it would cost to produce such a firearm today.  This gun is a prime example of such an argument thanks to its intricate inlays of gold, silver, pearl, coral, and bone.  It is simply mystifying what people could do with what we would consider "primitive tools" by today's standards.

While we can't always determine an exact year for many of the firearms in our auctions, we can come pretty close based on several helpful factors.  This is the oldest gun I could uncover after some in-depth searching.  Our describers estimate that this Ottoman rifle likely dates to the late 17th or early 18th century.  While that qualifies it for the oldest gun in the auction, it is not the oldest item.  That honor belongs to the 16th Century Italian style, swept-hilt rapier in lot 120.

Highest Selling Colt

Lot 1270: Impeccably Documented Captain Walker's C Company Colt Walker U.S. Model 1847 Revolver

Realized Price: $172,500

Believe it or not, that six-figure price is actually a great find for the lucky buyer.  Also in the "believe it or not" category is that the contest for highest selling Colt was far from a landslide.  May other phenomenal Colt firearms were also in the running like the presentation grade, recently discovered Model 1855 revolving shotgun, a 'D Company' Colt Walker, and a Squareback Texas No. 5 Paterson with its original holster.  By the way, many companies will go years without the privilege of selling a Colt Walker - they are ridiculously rare and sought after.  To have two in one auction, and another in each of our previous two auctions, is border-line impossible.  Well, impossible for most auction houses.  For those keeping track, that's four Walkers in 2014, 2 in 201`3, and another 4 in 2012!

Highest Selling Winchester

Lot 1043: Magnificent, Deluxe, Documented Special Order, Winchester Third Model 1873 with Casehardened Frame and Factory Letter

Realized Price: $149,500

Besides being completely gorgeous thanks to its iridescent case hardening and wood that seems to glint like a tiger's eye gemstone, this gun is also extremely rare.  Just like today, if you wanted to order a gun with custom features, you were going to have to pay for it.  Also just like today, not everybody wants to spend that kind of money, instead preferring a cheaper firearm for a life of service.  This makes special order Winchesters rare and it makes Winchesters with a combination of features increasingly more rare as their list of features increases.  This particular rifle has no shortage of special order features: 1/2 octagon barrel, set trigger, deluxe 3X fancy grain walnut stock, "Style H" checkering, pistol grip (the bottom of which has an ebony inlay), gold washed beach folding front sight, rare folding 62-B rear peep sight, and the casehardened forearm cap, receiver, hammer, lever, and crescent buttplate.  It is very much deserving of its sale price.

Highest Selling Luger

Lot 1446: Extraordinary Finest Known DWM Model 1906 Russian Military Contract Semi-Automatic Luger Pistol

Realized Price: $46,000

Those pistols made for a Russian contract are the rarest of all military contract Lugers.  Distinct with their Cyrillic text and crossed "Mosin-Nagant rifles" marking over the chamber area, these Lugers easily catch the eye of discerning collectors.  This gun's rarity and "excellent" condition grade are made even more valuable by remaining all original, and having all matching numbers, with the exception of its original, nickel plated, wood base commercial magazine.

Highest Selling Civil War Item

Lot  1269: Extraordinary Deluxe Gustave Young Panel Scene Engraved, Presentation First Model Maynard Breechloading Carbine

Realized Price: $37,375

One might not associate a gun so finely decorated to be a "Civil War firearm," but over 20,000 Maynard Second Model carbines were made for Union cavalry units.  The one shown above is a First Model.  It has a fancy grain, walnut stock with a patchbox and an inlaid and inscribed silver plate.  It is in exceptional condition, and most notably exhibits delicate and flawlessly executed European  style scroll work and panel scene engraving.  The work, while not documented, was almost certainly performed by the legendary Master Engraver Gustave Young.

Highest Selling Non-Firearm

Lot 1601: Two Inscribed United States Marine Corps Mameluke Officer Swords with Scabbards, Documented to Two Navy Cross Winners

Realized Price: $4,312

The swords themselves are attractive and fascinating pieces of U.S. military history.  They have brass cross guards, brass fitted/nickel finished sheaths, etching in a Marine Corps motif, and even the rig necessary to wear the swords properly.  The history of the swords is even more impressive than their decor.

One of the swords was issued to one Col. Miles R. Thatcher.  A man who started out as a 2nd LT in 1905 and by 1946 had retired as a full Colonel.  In his tenure with the USMC he earned quite a few medals to pin to his chest: the Navy Cross, the Nicaraguan Medal of Merit, the Haitian Medialle Militiare, the Mexican Campaign Medal, and the Marine Corps Expeditionary Medal.  The Navy Cross is the second-highest military award for valor eligible to the Navy, USMC, and Coast Guard.

The other was issued to a Gilbert Durnell Hatfield, a Marine enlistee in 1915 who would eventually retire as a Lieutenant Colonel.  Hatfield earned his Navy Cross for his "coolness and military way of handling the situation."  What situation, you ask?  He was serving in Nicaragua when Augusto Sandino, a bandit and later namesake of the Sandinista National Liberation Front, launched a pre-dawn raid on his camp with a 5:1 troop advantage.  When Sandino sent a messenger to Hatfield requesting his surrender, Hatfield replied, "Marines don't surrender.  Go to hell."  Well put, Marine.



Well, there you have it.  Whether people spoke en masse or with their wallets, those were some of the most desirable items in the auction.  Far from an exhaustive list of items that performed well, we thought it would be interesting to show some items that you made into highlights.  This list wasn't created by RIAC, it was created by enthusiastic and passionate collectors and investors,  If you'd like to see this type of lists after other auctions, leave us a comment below and let us know.  Also, if you have an idea for a "highlight" you'd like to see after subsequent auctions, feel free to put that in a comment as well.  We can't thank you all enough for a fantastic 2014!  See you all in February for our first ever FOUR DAY AUCTION taking place February 19, 20, 21, & 22, 2015.  Stay tuned to this blog and our social media pages for more details as they develop.