What is the Market for Limited Edition Firearms?

There are those supporters of the Second Amendment who may not spend as much time at the range, and many may view firearms as works of art. There is much to be said of that, as Benjamin Tyler Henry and John Moses Browning weren’t just gun designers; they were artisans who were worthy and capable in their craft, like Leonardo da Vinci and Wolfgang Amadeus Mozart.

In the modern sense, there is a respectable market of limited edition firearms that include special factory configurations produced for a specific season, event, or even milestone. There are aftermarket companies that offer special engravings or patterns, but some are more collectible than others.

“Fully decorated, themed limited editions will always have a place in the market; it’s about knowing your target audience,” explained Simon Khiabani, founder of SK Guns. “True collectors have always known this. What we are seeing more of now is end-user buyers/new collectors are starting to understand the value of limited editions.”

Khiabani told Shooting Industry that it is important to remember that not all limited editions are the same, and that some companies upgrade a few parts and call that a limited edition.

For SK Guns, it is about more than individual pieces.

“Collectors/end users want matching numbers in the series to have a complete matching set; hence collectors of these full series sets can ask a premium,” Khiabani continued.

Failure to Launch

Some limited edition lines will be far more popular than others, a point noted by Hank Yacek, general manager of the Powder Room Shooting Range and Training Center in Panama City Beach, Florida. Having been in the industry for around 40 years, Yacek told Shooting Industry that he has seen an all-too-common theme play out as some of the limited editions aren’t really limited enough.

“In my years on the distribution side, I’ve seen some companies release lines that are too big,” said Yacek, where many sell quickly to those who really see the firearms as collectible, but then the rest sit and sit, only to be sold as clearance, eating into the profit.

To that end, Yacek said that the smaller runs of 50 or so firearms can sell out quickly, even with massive premiums.

“You can move 50 to 100 of anything, even with massive premiums, but those buyers aren’t likely to see the value go up as they may be the only ones who really wanted it,” Yacek continued.

Where there has been some real movement in value is with the factory in-house or special engraving editions. Those firearms can hold or even increase in value.

Honoring the Past

Recent years have seen no shortage of historical-themed firearms, which aim (no pun intended) to commemorate a key milestone or even to pay homage to a significant firearm. Even some manufacturers that have shied away from novelty offerings have released such limited-run firearms.

“Springfield Armory developed a very special, limited-edition M1A variant to commemorate the 50th anniversary of not only the rifle, but also the Geneseo-based company,” said Mike Humphries, media relations manager for Springfield Armory and editor-in-chief of The Armory Life. “The M1A 50th Anniversary rifle sports a high-end stock with a unique embedded commemorative coin, a military-style wooden crate, a classic OD green cotton sling and all the bells and whistles. It also includes a certificate of authenticity.”

Humphries told Shooting Industry that in recognition of the year of its release, there were only 1,974 copies of this bespoke rifle released to the public.

“That makes this M1A a truly rare and highly collectible version of this unceasingly popular rifle,” he added.

Montana Precision Rifles has also tapped into the market with limited editions that are tailored to the customer.

“One of the most popular calibers we’ve been seeing this year is the 22 Creedmoor. We’re building them in both our MPR Predator chassis version and our MPR-1400 rifle stock version, and both have been very popular with customers looking for a rifle that is truly built specifically for them and delivers extreme accuracy,” said Justin Rowling, CEO of Montana Precision Rifles. “That’s also what makes these custom rifles interesting from a collector standpoint. When a rifle is built specifically for an individual customer, with a unique configuration, caliber, stock, barrel and finish, it becomes much more of a personal signature piece. Some customers will certainly display them, but most of our customers are buying them because they intend to shoot and hunt with them.”

Firearms Appreciation

Limited edition firearms may be something the owner appreciates having in the gun safe or even displayed on the wall in the man cave or den; there is the question of whether such firearms can actually appreciate in value. The answer comes down to several points.

As Yacek stated, it may depend on how big of a run the “limited edition” was and who it was aimed at. There may be a mistaken belief that simply because the firearm was marketed as a limited edition, it will go up in value. That’s not always the case.

For collectors, getting in on the proverbial ground floor can be crucial to the value going up, but that’s still a gamble.

“An in-house engraver whose work gained in notoriety can mean those early pieces can appreciate,” said Yacek.

There was also a time when companies like Winchester and Colt did in-house production runs of their long guns, including those that were tied to the Old West. While Henry Repeating Arms still manages to maintain that market, for many companies there has been a shift to handguns – with the offerings from Springfield Armory and Montana Precision Rifles being exceptions to the rule.

Regardless of what type of firearm, some effort is required on the owner’s part to ensure that the value could increase. That includes keeping the commemorative or limited firearm in a completely unfired condition, with its original packaging and all of its factory documentation.

“As an unofficial financial advisor, collectors of our limited editions are keeping them as pristine as possible to ensure their values continue to increase,” added Khiabani. “I would say a mere 2% of our true end users are shooting them – to each is his own – but there is a distinctive difference when I say ‘collectors’ and ‘end users’ buying limited editions.”