Gun auction rakes in $17.5 million

RIA

Firearms on display in the showroom at the Rock Island Auction Company before bidding started the weekend of April 29-May 1. (Photo: RIA)

Breaking a company record, the Illinois-based Rock Island Auction Company raked in $17.5 million during a recent gun auction.

“Never in our history have we had more live phone bidders, online attention, or more attendees, and it provided some very exciting moments throughout the weekend,” the company said in a statement about the event held April 29-May 1.

The company also set a world record for selling a single firearm. The rifle — a Winchester 1886 rifle that had been awarded to a U.S. solider for capturing the Apache warrior Geronimo and ending the Indian Wars — sold for a total of $1.265 million on day two of the auction.

Other high selling items include a 1931 Springfield prototype of the M1 Garand, which sold $172,500 — almost four times the original asking price. Another was a prototype Czechoslovakian rifle Model S that more than tripled in value, selling for $97,750.

Also, Mormon leader Brigham Young’s personal revolver was also up for auction at the estimated selling price between $550,000 and $850,000. It sold for $632,500.

The company’s next auction, which features more than 660 items, is scheduled for the end of May.