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  #1  
Old 03-22-2010, 7:08 PM
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Default "Million Dollar Luger" goes for half-price

Search and didn't see this posted.

Crazy even at "half price", if you ask me.


http://www.latimes.com/news/local/la...,7573316.story


The corporate-takeover shark played by Michael Douglas in the movie "Wall Street" brandished a replica and bragged about it as "the rarest gun in the world." An Indonesian billionaire paid $1 million for the real thing, and it became known as "the million-dollar Luger."

That was in the late 1980s, when the Douglas line "greed is good" captured the spirit of the times.

On Sunday, under very different economic circumstances, the coveted .45-caliber Luger found a new owner for half that price at a public auction in Anaheim.

The gavel came down at $430,000 from an anonymous bidder. With the 15% buyer's premium, the 103-year-old weapon fetched $494,500.

"It's a great bargain; he'll be very happy," said Greg Martin, whose company, Greg Martin Auctions, ran the sale. "The mystery of the million-dollar Luger has been solved by the market. But it will always be known as the million-dollar Luger."

Proxy bidder Paul Cole, president of Gun World in Burbank, said he represented a celebrity who chose to remain anonymous.

"The buyer has a huge firearms collection," Cole said. "He wanted to make this the crowning jewel of his collection. He's really excited; he's in tears. And it's really hard to get him excited."

Martin had hoped for a higher price, noting that last year his firm auctioned the Colt Single-Action Army revolver, Serial No. 1, for $862,500, one of the highest prices ever paid at auction for a firearm.

"Greed may be a bad word now, but the gun market is reliably strong," he said.

At the Anaheim auction, a few hundred gun enthusiasts showed up or stood by online and via telephone, seduced by the assortment of antique pistols, rifles, daggers and other military paraphernalia, including a samurai armor ensemble from the 1800s.

Douglas Smith, 70, flew from Portsmouth, Ohio, just to see the Luger handgun, which has a special place in his heart because he held it when he was 19, at a gun show where he met one of its original owners.

"This is the holy grail of the collection," said Smith, who has collected Lugers for 55 years. "If you were to have one gun, that's the one to own."

Smith, who runs bowling alleys, said he would have to be content with a glimpse of the rare Luger. Preliminary Internet bidding had already driven the price to $300,000.

"I'd love to have it, but at my age it's just beyond my reach," he said. "I'd have to sell a lot of guns to come up with the money."

Even for those who don't collect Lugers, just being in the same room as this one was a thrill.

"It's kind of like being a custodian of American history," said Walt Hallstein, 73, a collector from Los Alamitos who covets Winchester firearms.

The 9-millimeter Luger was the standard firearm used by the Germans during World Wars I and II, according to the auctioneer. The Germans made the .45-caliber for the American market and tried unsuccessfully to sell it to the U.S. military in 1907.

Only three were made and two survived. The other is in a Louisiana museum.

In 1949, collector Sidney Aberman bought the Luger for $150 from a friend who paid the same price for it five years earlier. After Aberman died, the gun was acquired by a California dealer who sold it to the Indonesian billionaire, Yani Haryanto, for $1 million. The Luger was since sold privately several times. Sunday was the first time it had been available for public bidding, Martin said.

ching-ching.ni@

latimes.com
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  #2  
Old 03-22-2010, 7:25 PM
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Interesting.... I know where one of the pistols which was destructively tested by the US army wound up... but I thought it was a 9mm.... (Its a rusty chunk hanging on the wall of a little hole in the wall gunshop)

Next time I'm in that town I'll have to swing by and look to see if it was a 9 or a 45.... it would be awesome if it was the missing one.
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Old 03-22-2010, 7:31 PM
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Originally Posted by AJAX22 View Post
Interesting.... I know where one of the pistols which was destructively tested by the US army wound up... but I thought it was a 9mm.... (Its a rusty chunk hanging on the wall of a little hole in the wall gunshop)

Next time I'm in that town I'll have to swing by and look to see if it was a 9 or a 45.... it would be awesome if it was the missing one.
I might have to start following Ajax around to small gun shops, sounds like he has a line on some history!
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Old 03-22-2010, 7:32 PM
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Here's a fun fact; Greg Martin Auctions is located... in the heart of San Francisco. Hard to believe that on of the premier firearms auction houses is located in what is perceived as one of the most lefty anti-gun cities in America.
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Old 03-22-2010, 7:36 PM
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Originally Posted by choprzrul View Post
I might have to start following Ajax around to small gun shops, sounds like he has a line on some history!
Heh.... you have no idea.

I even know where William Randolph Hurst's double rifle is
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Old 03-22-2010, 8:09 PM
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who is the buyer? I'm curious.
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Old 03-22-2010, 8:16 PM
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Probably Sean Penn
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Old 03-22-2010, 8:47 PM
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Tom Selleck?
Ted Nugent?
Steven Spielberg?
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  #9  
Old 03-22-2010, 8:57 PM
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Quote:
Originally Posted by QuarterBoreGunner View Post
Here's a fun fact; Greg Martin Auctions is located... in the heart of San Francisco. Hard to believe that on of the premier firearms auction houses is located in what is perceived as one of the most lefty anti-gun cities in America.
They moved a couple of years ago to Irvine. I did buy a few shotguns from them when they were in SF.
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Old 03-23-2010, 7:20 AM
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That's weird... ah I see; they still have offices here is SF but they closed their 3rd Street auction house.
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  #11  
Old 03-23-2010, 7:26 AM
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Tom Selleck?
Ted Nugent?
Steven Spielberg?
My vote is for Spielberg, Selleck or Nugent wouldn't care if people knew but Speilberg is a closet gun guy and is never seem with a gun in America. Occasionally you'll see a photo of him with a O/U at some event in Europe but never here.
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Old 03-23-2010, 8:12 AM
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Pic's? anyone?
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Old 03-23-2010, 8:17 AM
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I still have the "Gun's and Ammo" magazine with it on the cover, it really is a nice piece.
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Old 03-23-2010, 8:21 AM
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Pic's? anyone?
http://www.gregmartinauctions.com/au...px?LotID=34167


Last edited by n2k; 03-23-2010 at 8:26 AM..
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Old 03-23-2010, 8:32 AM
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You'll never know who really bought it but if I had a guess it's Spielberg or George Lucas.
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Old 03-23-2010, 9:18 AM
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Man! I knew just from the title that this was either about the .45 luger. Thanks history channel! If any of you guys have not seen the Guns of the World episode on million dollar guns, I highly recommend it!
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Old 03-23-2010, 9:31 AM
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I previewed this auction last Sunday. I sw that Luger, a guy held it in the gun rug the entire time I was there.

TONS of lugers, walthers, browning HPS, Colts,

And an Automag that went for $1,100.00 Man, I wish I would have stayed for the auction.
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Old 03-23-2010, 10:34 AM
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Thanks history channel! If any of you guys have not seen the Guns of the World episode on million dollar guns, I highly recommend it!
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Old 03-23-2010, 12:03 PM
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So, if you did mag dumps with it, would it drop in value?
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Old 03-23-2010, 1:05 PM
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Quote:
Originally Posted by QuarterBoreGunner View Post
Here's a fun fact; Greg Martin Auctions is located... in the heart of San Francisco. Hard to believe that on of the premier firearms auction houses is located in what is perceived as one of the most lefty anti-gun cities in America.
They left SF due to City Hall pressure...surprise! A lot of sales tax left town with them. Same feel good attitude that feeds the deficit

Mr. Martin is a stand up gentleman....He would give the same ear to a high roller or a Ruger collector...I miss those auctions. Not the same on-line and not being abel to attend the preview. You folks have a nice jewel down south.

Last edited by Thefeeder; 03-23-2010 at 1:07 PM..
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Old 03-23-2010, 1:20 PM
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They left SF due to City Hall pressure...surprise! A lot of sales tax left town with them. Same feel good attitude that feeds the deficit

Mr. Martin is a stand up gentleman....He would give the same ear to a high roller or a Ruger collector...I miss those auctions. Not the same on-line and not being abel to attend the preview. You folks have a nice jewel down south.
Their office is located right next to a building a friend of mine owns...

Martin also has a nice Winery Estate.....guns and wine, the finer things.

http://www.martinestate.com
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  #22  
Old 03-23-2010, 6:45 PM
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who is the buyer? I'm curious.
I heard it was Plaxico Burress...
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