Colt firearms collection auctions for $2.2 million in Las Vegas

A collection of rare, antique Colt firearms fetched $2.2 million at an auction in Las Vegas last month.

Morphy’s Auctions said the event featured 94 guns from the private collection of Dr. Edward Michael Feldman, a renowned Colt enthusiast well-known within the community.

“We knew the sale was going to attract many of the Colt world’s heavy hitters, or their representatives, because Ed Feldman was known to acquire only the most exceptional, best-condition Colts,” said Dan Morphy, president of Morphy Auctions. “Everyone in the hobby knew this about Ed, so we expected there would be a high level of interest leading up to the sale – and we weren’t disappointed.”

Included among the offerings was the “finest known example of an 1886 factory-engraved, blue-finish Colt Lightning,” which sold after nearly 60 bids pushed the price to more than double its $70,000 estimate. A “Rosecrans Army” 1860 model — embellished “exactly like the pair” Colt presented to Union Army General George McClellan — sold for $156,000, more than 20 percent above its highest estimate.

“What this sale showed the hobby was that the best of the best and guns in top condition – which is precisely how I would describe Ed Feldman’s collection – will shine even during times when the market for antique guns isn’t at its highest point,” Morphy said. “The Colt Lightning that was estimated at $50,000-$70,000 but sold for $190,000 was the finest of its kind, so it sold accordingly.”

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