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Showing posts with label DWM. Show all posts
Showing posts with label DWM. Show all posts

Thursday, August 7, 2014

Centennial of the Great War

"I foresee that very soon I shall be overwhelmed by the pressure forced upon me and be forced to take extreme measures which will lead to war. I beg you in the name of our old friendship to do what you can to stop your allies from going too far."

-Tsar Nicholas of Russia writing to his cousin 
Kaiser Wilhelm of Germany in 1914, 
one hundred years and one week ago.


A composite image of the Battle of Zonnebeke created by Australian famed Great War photographer Frank Hurley.

This year marks the centennial of the Great War. July 28 marked the exact start date of one of the largest wars in all of history that would eventually claim more than 9.8 million lives, leave over 20 million wounded, and 7.7 million missing. Those numbers are incomprehensible as is the vast scale and tragedy of this world wide conflict. Short of a dedicated encyclopedia or incredibly thorough webpage, there is no way to appropriately document this event. It is with this in mind that Rock Island Auction Company will take a small glimpse into the First World War in the way it best knows how - by examining a sample of the historical weapons used in this terrible struggle, all of which have come courtesy of consignors whose collectible firearms will be appearing in the September 2014 Premiere Firearms Auction.

DWM German 1908 Maxim Heavy Machine Gun



First and foremost will be one of the most influential weapons of the 20th century: the Maxim machine gun. This particular example is an original DWM manufactured World War I German Maxim heavy machine gun manufactured in late 1918, just before the war's end in November that same year.

The designation MG 08 can be rather confusing. The Germans are said to have manufactured almost direct copies of the original 1884 Maxim machine gun as early as 1899 and with Maxim's original patent expiring in 1900, officially adopted the license made MG 01, which earned its name from the year of its adoption - 1901. As with most new technologies, it underwent many variations, adaptations, and improvements over the years. The MG 08 was developed from the MG 01 and was officially adopted in (you'll never guess) 1908. It is because the original variants were developed at the turn of the century that many sources say the MG 08 was officially adopted in 1899 (or 1901). By the end of 1908, it is said that "every German regiment of three battalions had its own six-gun battery." Long story short, both the British and the Germans had used machine guns in various colonial wars, but the Germans more seriously considered the weapon's potential and already possessed an estimated 12,000 - 13,000 of them, made by DWM, at the beginning of the Great War. After seeing their devastating effect early on, Germany would ramp up production significantly by also contracting arms manufacturer Spandau.



The guns were fed with cloth belts that held 250 7.92mm cartridges and had a rate of fire near 400 rounds/minute, relatively slow compared to the 650 rounds/minute of the original Maxim M1885. Prone to overheating, the MG 08 utilized a water-filled jacket around the barrel, that would hold anywhere from 7 pints to a gallon. This amount of water would boil after 500 rounds of continuous fire and would boil off completely and need to be refilled after around 2,000. Transportation in the Great War being poor at best made water a scarce commodity and it was not a rare occurrence for soldiers on both sides of the conflict to urinate in the water coolers to maintain their functionality.

This weapon would earn the name, "the Devil's Paintbrush" for the way it swept across the landscape similar to how a paintbrush wold sweep across a canvas. It was thought that only the Devil himself could have the invented such a deadly device.





Model 1914 Lewis Light Machine Gun



While most commonly associated with the British thanks to their widespread use of the gun, the Lewis gun was actually invented by US Army Colonel Isaac Newton Lewis in 1911 (a very good year for guns). In 1912 it was rejected by the U.S. Army, who was already using the Maxim M1885 and, to a lesser extent, the Colt-Browning Model 1895 (a.k.a. the "potato digger"). Angered by the rejections, Lewis set up his own shop in Belgium and before long he had licensed the manufacturing rights to the British arms manufacturer Birmingham Small Arms Company. Almost immediately he was making a large amount of money since both Belgium and the British had officially adopted the gun and it would be less than a year before both were at war with the Central Powers.

The Lewis gun with its distinctive air-cooling barrel shroud and "pancake" drum magazine, was most commonly found in .303 caliber, although those made by Savage were generally produced in .30-06. Its cam-driven (not spring wound) magazines were made in two sizes: 47 and 97 round capacity, which the guns would empty rather quickly with their cyclic rate of 500-600 rounds per minute. They would make their way to the Western Front in early 1916, replacing the heavy, reliable, slower to manufacture, and more expensive Vickers machine guns. At 28 lbs it may not seem like a "light" machine gun, but relative to other machine guns at the time, a machine gun that could be carried by one man was quite an improvement. Perhaps it was that weight that gave the Lewis gun the honor of being the first machine gun fired from an airplane, driving the famous and oft-romanticized dogfights of World War I.

Browning Automatic Rifle



Ah yes, the venerable BAR. Despite seeing relatively little use in World War I, barely three months in total, the time they were put into service found them to be very effective and accurate. Lighter than stationary machine guns, but heavier than a standard rifle, at 16 lbs the BAR was designed to be fired from the hip in another attempt to implement the fruitless "walking fire" concept, a theory that involved troops firing indiscriminately while advancing in order to keep enemy troops in cover. In fact, many BARs came with a cupped steel buttplate holder to both support the gun and help contain the recoil when firing from the hip. That theory, despite giving rise to the BAR and the Pedersen Device, was never realized and instead the BAR was more often used with its bipod as a light machine gun. After the Great War, Colt obtained the previously unavailable Browning patents and made the BAR available for commercial sale under the name the Colt Automatic Machine Rifle Model 1919. Despite its many variations through the years the BAR would not be adopted until 1938 when the threat of World War II forced the Army to adopt the M1918A2. The model shown was manufactured by Winchester and is accompanied by many of the accessories that soldiers would have received with the firearm such as magazines, web belts, and even one of the aforementioned steel cups to assist in "walking fire."





M1911 Semi-Automatic Pistol



While the history and variations of M1911/A1 have been more thoroughly covered in previous articles, this was the first chance for the United States to test out their newly adopted pistols on a large scale. Sure the fighting in the Philippines and the Pancho Villa Expedition were good tests, but this was the big leagues. Also designed by the renowned John Moses Browning, these legendary pistols would serve from their adoption in 1911 over seven decades until 1985. They would also enjoy much success in the civilian market serving as reliable handguns and a readily modified platform for many performance target shooters. The pistol's most noted use is almost certainly by that of Sgt. Alvin York, whose heroics involving his M1911 resulted in 28 dead Germans, 32 captured machine guns, and 132 surrendered.

This is a relatively short section on the M1911 compared to some of the other firearms examined, but for more information on the rich history of this indefatigable sidearm, please read the stories linked in the first sentence of this section. The example in the photo above is Colt M1911 Serial No. 147, likely made in January 1912 during the first full month of production. It was shipped to the Commanding Officer of Springfield Armory on February 3, 1912 in a shipment of 200 pistols.


Mauser Model 1918 Tankgewehr

New technology begat more new technology in the Great War. Airplanes were used in combat for the first time and so were ways to bring them down. Widespread poison gas use brought about better gas masks and new filters. The prolific rise of machine guns long stymied each side trying to mobilize their troops, but would eventually prod the development of modern tanks. The presence of tanks, in turn, brought about the development of anti-tank weapons. One of these weapons was the anti-tank rifle. While not well-known as many of the other rifles and pistols to come out of the First World War, this tankgewehr is an especially rare item to find today as nearly all were destroyed in accordance with the Versailles Treaty. Similar to an overgrown GEW bolt action rifle, these 37 lb behemoths were single shot weapons developed in 1916 with a 16 inch long, solid steel receiver that fired a 13.2mm round capable of penetrating the thin and primitive armor on early British tanks. The officially designated Tankgewehr 18 was known by German troops as the "Elefant-Buechse" or "elephant gun." Roughly 15,800 were manufactured in 1918. The example shown is all original and unaltered.


Obviously we can't show all the World War I era weapons that appear in our September 2014 Premiere Firearms Auction, but this is a pretty good start. The catastrophe of the Great War cannot be understated. However, it is of course possible to look back on those events with fascination and awe without trivializing them. The weapons that came as a result of World War I provide intriguing insights into the technology of the time, advances in engineering, and human ingenuity. Not only did the war force people to make better planes, engines, firearms, armor, and so on, it also resulted in such inventions as air traffic control, mobile x-ray machines, sanitary napkins, Kleenex, sun lamp treatments, tea bags, the popularity of the wrist watch, the zipper, stainless steel, and industrial fertilizer. Nonetheless, it is inventions such as flamethrowers, interrupter gears, new poison gases, tanks, tracer rounds, and aircraft carriers that contributed to the tremendous loss of life for which World War I will be, and should be, forever remembered.

Canadian troops go "over the top" during the Battle  of Vimy Ridge



Friday, October 18, 2013

Stocks, Bonds, or Barrels?

Ask any firearms collector if guns are a good investment and you're bound to receive a response in the affirmative. It's not exactly an unbiased answer, but it is still drawn from sound personal experience. Besides, wasn't the economy's most recent low spot in 2008? Haven't such indicators as the Dow Jones and the S&P 500 recovered nicely since then? What about gold? I keep hearing about its value skyrocketing.

These are reasonable questions from someone debating on whether or not to invest some money into firearms versus other more traditional investment vehicles. Of course, we're not talking about the stocks of firearms companies as investments (although those are doing quite well for themselves currently), but the firearms themselves. Are guns a good investment? Aren't all the "good ones" taken? Not so fast. Here's some information that might make you think otherwise.


1.  Values Are Up

Gun values are up and it's not just some bubble in the market. Yes, modern sporting rifles (a.k.a. "assault rifles") saw a recent price bubble, but over the last five years the vast majority of guns in their usable life have seen and maintained an increase in value. Guns past their "useful life" and in their "collectable life" have been largely gaining value for decades.

2.  Increasing Gun Values Exceed Other Market Increases

The examples we list below are only the beginning. While their values have increased, and done so at a handsome percentage, other genres of collecting make these look like small gains. Through research and careful selection, one stands to outperform even such vaunted standards at the S&P 500 and even gold! Haven't each of those investments vehicles been improving since 2008? Didn't the S&P 500 just experience a new record high this week? The answer to both questions is "yes," but the right guns readily show larger gains in leaps and bounds.

3.  You Can't Shoot Stocks

OK, so this may not be an apples to oranges comparison, but it's a huge plus to investing in guns. Firearms are useful beyond their investment value. You can display them, you can clean them, you can take them to shows, you can take them hunting with your old man, you can teach a youngster about them, and they're a lot easier to trade than stocks. Truth be told, you may not want to fire a high dollar firearm into which you've invested tens of thousands of dollars as you may harm the value, but many of the other activities still apply.

Guns can be enjoyed in ways other investments cannot. You may hear one collector excitedly telling another about a recent purchase that he has chased for years; you'll never hear that from a day trader. You might hear the pride in a collectors voice as he describes his collection; the only time you'll hear financial experts talk that way about a portfolio is if it makes money. In gun collecting, there's so much more than money, like history and the pursuit. Not only is investing in guns worthwhile financially, you can use them as tools as well as for recreation.

4.  Guns Are Tangible

This section isn't meant to be some "the sky is falling" message about our government or the stability of the world economy, etc. However, there is a lot of risk present to investors today: the Eurozone, a government shutdown, debt ceilings, recessions, defaults, and so on. It is in unstable climates that investors seek stability. One only has to look at the popularity of precious metal commodities in the last several years to know that people want finances that aren't just potentially vulnerable electronic numbers in a bank or on the stock market. People want things they can touch, things that they can hold on to and guarantee its security. Collecting firearms provides that opportunity. You can hold them, they're worth an increasing amount of money, and you don't have to worry about losing them if a bank or market collapses. 

Examples

Now, we're not licensed financial planners or sages of what the future may hold, but we can speak from the experience of selling over 22,000 firearms a year and evaluate some past information in an intelligent fashion. We are not licensed financial advisors.  Please due your own due diligence or contact a professional before making any and all financial decision.  We simply have the good fortune to possess loads of data and we're not afraid to use it. All data that we used to derive the information below was obtained in the following way:
  • We only used guns that are in 95-100% of their original condition
  • We attempted to eliminate as many "special" guns as possible (unique history, one-of-a-kinds, etc) since they can cause larger swings in value.
  • All dollar figures shown are a yearly average.
  • Values for gold, S&P 500, and Dow Jones are year end figures, except for 2013, which uses October 16 as its final day.
Keep in mind, the amount that you bought/sold a gun for may not match the figures that we provide below. Our figures are averages. They take into account many different finishes, barrel lengths, grips, calibers, serial number ranges, boxes, letters, and so on. These numbers are not published to a pricing guide of any sort, merely to indicate a rising trend in value for several of the most popular firearms that we have sold in the last 5 years.










 Last 3 years: 72.68%
 Last 6 years: 183.31%

There's more than a dozen Colt Pythons to choose from in our upcoming auction in varying barrel lengths and finishes.















 Last 3 years: 43.84%
 Last 6 years: 52.78%

This classic piece of American firepower, called "the greatest battle implement ever devised," has also enjoyed quite the rise in value over the last several years. Patton would be proud.















 Last 3 years: 123.52%
 Last 6 years: 107.93%

Colt 1911s have been a proven high riser for several years.  The numbers on the left don't even reflect the high dollar 1911s such as Singers, high condition first year production models, prototypes, and especially not the world record Singer than we sold in 2010 for $166,750.












 Last 3 years: 111.89%
 Last 6 years: 79.95%


There are over 15 different high end Model 12 shotguns to choose from in this auction!  They include two engraved and gold inlaid by Master Engraver Angelo Bee, several trap and skeet grade models, and of course some of the ever popular trench shotguns.








 Last 3 years: -9.39%
 Last 6 years: 52.24%

Despite gold's popularity and media coverage as a high performing investment, it still lacks the gain in value attached to many genres of firearms









 Last 3 years: 36.89%
 Last 6 years: 17.24%


The S&P is finally starting to look like its old self and is actually breaking some records as of late.  However, even considering that record breaking performance the returns still pale to that of numerous genres of guns.













Last 3 years: 32.79%
Last 6 years: 17.75%


Even at its historic highs, the mighty Dow Jones fails to match the growth of collectable firearms.






We could list guns, pictures, and charts for numerous pages, we could also spend an entire month comprising values and breaking them down and making them as specific as possible, but this is not a pricing guide.  What we are doing is drawing trends and averages by looking back at the data from hundreds of sales of the firearms selected.  As with any rise in value there may be a few segments left behind.  Even in a bull market, not every stock gains money or even gains every year.  However, by taking a step back and looking at those trends over a larger period, it becomes easy to see that guns have been a sound investment for quite some time.  This financial benefit comes almost as an aside to most people who buy guns simply to enjoy them, use them, and be a part of that community.  It's yet another added perk to do what you love.

Best of luck in your collecting, investing, and of course, your shooting.