President Theodore Roosevelt’s ornately engraved Colt revolver sold for $1.4 million during the second day of Rock Island Auction Company’s (RIAC) three-day December event. The Colt Single Action Army revolver was ordered as a gift for Roosevelt’s 54th birthday. Factory engraved and silver-plated, it was shipped four days before his birthday, just more than a week prior to the election of 1912.
“What we’re seeing is the growing realization of the history and investment potential of these objects,” said RIAC President Kevin Hogan. “Year after year, these numbers increase and it’s no coincidence. People love holding history in their hands and have always wanted to possess what is beautiful. Collecting fine arms satisfies both.”
Despite 2020’s challenges, RIAC broke its own industry record by reaching $91.7 million in annual sales—and one auction total was still pending as this issue was going to press. The company’s December auction, now the largest firearms auction ever held, brought in more than $22 million.
