GUN $287,500 shotgun

Discussion in 'On Topic' started by TL1000RSquid, Apr 29, 2007.

  1. TL1000RSquid

    TL1000RSquid ΜΟΛΩΝ ΛΑΒΕ

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    Duluth collector buys legendary shotgun
    4/28/2007 8:00:23 AM

    By Brandon Stahl

    Duluth News Tribune

    DULUTH -- To firearm collectors, it's known as the Holy Grail of guns, an almost mythical weapon. It was manufactured in 1914 and was meant for Czar Nicholas II of Russia. But the "Czar's Gun" was long thought to be lost or destroyed, while some believed it never existed in the first place.

    It did exist, and it now belongs to Duluth gun trader Jack Puglisi Sr., who bought it at an auction for $250,000 last month, thought to be a world record for a shotgun at auction.

    "I've been doing this for nearly 40 years," said Puglisi, who paid a 15 percent auction fee, bringing the price to $287,500. "This is one of the most exciting things I've ever experienced, to buy something that I never thought I'd own."

    Puglisi, 65, began buying and trading guns in 1961 when he was at Denfeld High School and went into the business full time in 1970. He owns Puglisi Gun Emporium in Gary-New Duluth and is considered one of the most well-known gun traders and historians in the country. He said his business has blossomed in the past 10 years and is visited by traders from all over the globe.

    "Over the years, we've developed the reputation that if you want to find something really good as an investment gun, we're a place to visit," Puglisi said.

    Puglisi knew all about the lore of the Czar's Gun, also known as the Czar's Parker, because it was handmade by Parker Bros., one of the top firearm manufacturers at the time. It was to be shipped to Czar Nicholas II, but David Trevallion, a firearms manufacturer and historian, said World War I broke out and the gun sat in a New York dock.

    It was shipped back to Parker Bros. and resold to a New York man, who owned it and later gave it to his son. From there it remained in obscurity for more than 90 years.

    Trevallion said the gun, the first gun thought to be built for European royalty, grew into legend because it disappeared so quickly. A few fakes even surfaced, Trevallion said, including one that sold for thousands of dollars.

    "It's mythical," Trevallion said. "It became: Where's the Czar's gun?"

    Eventually, an auction company located the gun in New York. Trevallion said he certified it using original documentation from Parker Bros.

    Puglisi knew if he wanted the gun he'd have to take an unusual strategy.

    "I knew there were people prepared to pay as much or more than I was," he said. "My competition was stout."

    He wanted to avoid the stair-stepping that can happen at an auction -- people bidding in small increments and building to higher and higher amounts, sometimes over what an item is valued.

    So Puglisi told the person bidding for him (he was in another state at the time) to do something dramatic. When the gun's description was about to be read, Puglisi wanted the bidder to scream, "a quarter of a million dollars!"

    "I wanted to shock the room into silence," he said.

    It worked.

    "It was expected to start at $100,000 and just creep up," said James Julia, who owns Julia's Auctions, which sold the gun. "All of a sudden some fool just bid a quarter of a million dollars. It was great."

    Julia asked for $275,000, then $265,000, then $255,000. Though Julia estimated there were at least six others who were after the gun, no one else bid.

    "They just didn't regroup in time," Julia said.

    "A guy called me up 10 minutes later," Puglisi said, "and said, 'Before I knew it, the gun was sold. I would have paid more. I'll pay more for it right now.'"

    But Puglisi plans to hold on to the gun. He had plans to go out and fire it and keep it in his collection at his store. But eventually, he said, he will sell it.

    "If somebody wanted to buy it today, it would take a half a million dollars to pry it out of my hands," he said. "But I'm very interested in owning it for a while. It's perhaps the best investment I've ever made. If it were a piece of artwork, it would be a Renoir."
     
  2. jonny427

    jonny427 Scooby Doo OT Supporter

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    thats baller
     
  3. TL1000RSquid

    TL1000RSquid ΜΟΛΩΝ ΛΑΒΕ

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    If he was a real baller he'd file the AOW paperwork and cut the stock and barrel :eek3:

    It looks nice but I dont know fancy shotguns dont do anything for me, even if it was the czar of russias.
     
  4. 7

    7 First comes smiles, then lies. Last is gunfire.

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    a Parker Invincible is worth more than that
     
  5. JaimeZX

    JaimeZX Formerly of :Sep 2001: fame - Also: Sprout Crew OT Supporter

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    Moar pics
     
  6. itchiban

    itchiban New Member

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    :bowrofl:

    And props for actually wanting to shoot it. I would have figured that most collectors wouldn't want to take the slim chance of it being damaged.
     
  7. reman

    reman New Member

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    Damn, and he still wants to shoot it. :)
     
  8. KIDRR

    KIDRR Duck dog>* OT Supporter

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    My grandpa has a parker double barrel from 18something but it's pretty beat up.
     
  9. Aequitas

    Aequitas If it keeps on raining, levee's going to break.

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    I didn't think anyone actually used "emporium" in their business name.
     
  10. kellyclan

    kellyclan She only loves you when she's drunk.

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    Hmmm, I've got a beat to shit Parker...maybe it was Stalin's. :eek3:
     
  11. Alphaeus

    Alphaeus New Member

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    Needs more folding stock.
     
  12. Small Block LSX

    Small Block LSX BMW | N54 | LSX | Gun | PS3 | Parent | Night CREW

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    Wow... it's a cool piece of history, but for $287,500.. there are lots of other things I'd like to own first.
     
  13. Wave

    Wave Carlos Spicy Weiner

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    Me too, but it is basically money in the bank. He can get rid of it any time he wants for a lot more than he paid. Also, he can right off the expense plus the traffic it will generate in his business/store is worth more than a few bucks.
     
  14. Gundam

    Gundam Tell Drama he's on my to do list, right after inse

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    Is that one of the guns from Lock Stock and Two Smoking Barrels?
     
  15. BigBadJohn

    BigBadJohn Pay-back time OT Supporter

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    If I had that much money I would NOT be spending it all on a shotgun. Id buy an okay house, not work while I go to college and work on my Camaro and finish it all with the money
     
  16. XR250rdr

    XR250rdr OT Supporter

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    Same here, but I have a feeling the guy probably already has a more than 'okay' house. :)
     
  17. BigBadJohn

    BigBadJohn Pay-back time OT Supporter

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    Gayness. My employer makes msore money at this one store (he owns 8) in a day than I make in a year
     
  18. TL1000RSquid

    TL1000RSquid ΜΟΛΩΝ ΛΑΒΕ

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    You could buy a real car :mamoru:
     
  19. spankaveli

    spankaveli OT Supporter

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    if he has that much to spend on a shotgun, he has alot more otherwise and thus, looks at it differently than you :o
     
  20. PanzerAce

    PanzerAce Active Member

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    If I had that kind of money, I would buy an 11-87 tac, E36 M3, and invest the rest
     

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