Mark I 1903s SOAR in Value!!!!!

Hello M1903 folks......would you take a look at this......? Springfield 1903 MK 1 w/Pedersen Slot-Excellent : Curios & Relics at GunBroker.com


Why are people asking such high prices for rebuilt 1903 Mark I rifles? I questioned this guy....who appears to be a dealer in California and he replied that Joe Poyer inspected the rifle and considering that the Pedersen Device goes for $30-$50K, that the price was not unreasonable. He also asked me to make an offer, which I will not do because I own a beautiful all CORRECT Mark I which I paid less that half of his $1,950 asking price. There are now a few MarkIs on GB with unusually high asking prices......Oh...he also mentioned that there is a law where he is regarding tha amount of time a dealer must hold a firearm....anyone ever hear of this.......Maybe these people are just waiting for a sucker to come along.....???

people with just enough information to be dangerous...and really without a clue.

The seller appears to be a California gun dealer who said that dealers have to hold onto guns for 30 days. He also pretty much told me to "STFU!"

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Originally Posted by Jason60chev

Hello M1903 folks......would you take a look at this......? Springfield 1903 MK 1 w/Pedersen Slot-Excellent : Curios & Relics at GunBroker.com


Why are people asking such high prices for rebuilt 1903 Mark I rifles? I questioned this guy....who appears to be a dealer in California and he replied that Joe Poyer inspected the rifle and considering that the Pedersen Device goes for $30-$50K, that the price was not unreasonable. He also asked me to make an offer, which I will not do because I own a beautiful all CORRECT Mark I which I paid less that half of his $1,950 asking price. There are now a few MarkIs on GB with unusually high asking prices......Oh...he also mentioned that there is a law where he is regarding tha amount of time a dealer must hold a firearm....anyone ever hear of this.......Maybe these people are just waiting for a sucker to come along.....???

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I live in California and have seen same firearms setting in the 3 or 4 different gun shops I look at for 6mo to 1yr plus. One of them had the 03 I just got at a crazy $1200 about 6 to 8 months later went in it had dropped to $500 so I bought it They also had a 03 Remington for $750, last time I was there so was the Remington.

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Originally Posted by Jason60chev

......Oh...he also mentioned that there is a law where he is regarding tha amount of time a dealer must hold a firearm....anyone ever hear of this.......Maybe these people are just waiting for a sucker to come along.....???

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See Para 478.125a Personal firearms collection.

in the US Fed Regs

A licensed dealer, importer or manufacturer transferring a firearms from his business inventory to a personal collection must hold the gun for at least year. (thats the short version read the regs for the whereas's and whosoevers :) )

Maybe that thats what this guy is talking about:dunno:

So a new gun shop has to wait a year before it can sell any guns?.......and then another year after new inventory is bought?

I not sure but I think if I sold my firearm to a gun dealer they would have to hold it for 30 days before they can put it up for sale in their shop maybe it has to pass a check I don't know. I'm just guessing as I've seen firearms setting in back at a gun shop asked about them was told they could'nt put them out yet I did'nt ask any futher.

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Originally Posted by Jason60chev

So a new gun shop has to wait a year before it can sell any guns?.......and then another year after new inventory is bought?

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No! reread the post. Only weapons transferred from the the DEALER'S (FFL01) Business Inventory to his own Personal Collection


regards,
Jim

No, he has to keep any gun from the shop for a minimum of one year if it becomes his personal gun.

Anyone can charge anything they like - but there is nothing special about a Mark I without a Pedersen Device. He is fishing for a sucker with his story. All matching with original finish and all proper marks might be worth close to that - but not a rebuild - then it's just another M1903.

You will notice the guns don't move well at silly prices unless someone equally silly (or gullible) walks into the shop..... CC

I would not want to say we have a trust issue here but???

Also on the transfer thing, I think that he may be referring to moving the gun from his personal collection and selling it in his business. If he previously took if from the business and put it in his personal collection, he can't put it back into the business inventory for a year.

Probably trying to tell you that while he is advertising to sell, he can't actually dispose of it for some longer period of time throught his business. That's my guess anyway, the only thing that makes sense???

I see this dealer at the big shows all of the time. Lots of fake stuff at crazy prices. He just waits for the one fool to come along. That gun has a HS barrel and a CC bolt. Nice $500.00 shooter.

I have a large collection of 03's including three Red Star 03's. I don't have even one Mk.1, because a Mk.1 without a Pederson device is just an 03 with a hole in the receiver. What's the point. I always figured that if I ever came into possession of a Pederson device I could find a Mk.1 no problem.

This dealer is an odd duck. A story: a buddy (another dealer) has a mint pre-war WWII, S&W model 10 revolver. This dealer happens to see it and buys it, gun is gone. About 6 months my buddy sees this dealer wiith a mint S&W with papers from a dead WWII General Officer. Gun is now in WWII shoulder holster and has the General's wife authenticating the revolver from an estate sale. Needless to say it now goes for big bucks. My buddy quickly jots down the serial number and then checks his books later. Sure enough it is the self-same revolver he had sold some 6 months before. Gotta watch everything from this dealer.

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Originally Posted by Calif-Steve

This dealer is an odd duck. A story: a buddy (another dealer) has a mint pre-war WWII, S&W model 10 revolver. This dealer happens to see it and buys it, gun is gone. About 6 months my buddy sees this dealer wiith a mint S&W with papers from a dead WWII General Officer. Gun is now in WWII shoulder holster and has the General's wife authenticating the revolver from an estate sale. Needless to say it now goes for big bucks. My buddy quickly jots down the serial number and then checks his books later. Sure enough it is the self-same revolver he had sold some 6 months before. Gotta watch everything from this dealer.

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LETS ALL BOYCOTT THE GUY, then he can sit on top of all his fakes and bogous bull until his kids inherit the stuff, likely they may not know enough about any of it to care, so they'll pawn it all. Then we can buy the stuff at normal prices without the bull !

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Originally Posted by Charlie

I have a large collection of 03's including three Red Star 03's. I don't have even one Mk.1, because a Mk.1 without a Pederson device is just an 03 with a hole in the receiver. What's the point. I always figured that if I ever came into possession of a Pederson device I could find a Mk.1 no problem.

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I have one correct/original Mark I (without the PD, of course). That's plenty for me.