Released on: January 3, 2008, 3:24 pm

Press Release Author: Fred and Gail Taylor

Industry: Entertainment

Press Release Summary: Three world records result from sale of a collection by man
trying to buy a car for his elderly mother.

Press Release Body: Rock Island Auction Company in Moline, IL was a busy place in
September, 2007 following a major three day firearms sale and it would have been
very easy for the telephone receptionist to dust off another caller looking for a
free appraisal. However, the experienced receptionist knew a key phrase when she
heard it and she immediately transferred the call to Acquisitions. The phrase? Colt
Belt Paterson.

The caller just wanted to get an idea if the Colt was worth enough to buy his mother
a new car. Acquisitions asked if he could send a photo and inquired of the
condition. Yes he had a photo and the condition - new in the original box. Too good
to be true but the photo confirmed the identity and the condition - flared grip,
square back cylinder with all accessories in unpolished new condition in the
original case. And, as if that weren't enough, the original photo was accompanied by
the photo of a Volcanic lever operated pistol made by New Haven Arms in 1857. That
was all it took.

Auction owner Patrick Hogan was on the airplane on Monday morning to check out the
new finds in Pennsylvania. Over the kitchen table the owner told Hogan a local
collector had offered $8,000 for the entire collection that had belonged to his
stepfather. When his independent research turned up a possible value as high as
$75,000 he called Rock Island for confirmation. Hogan confirmed the estimate and
told him it could sell as high as $275,000. The Volcanic from the photo turned out
to be brand new and the owner asked Hogan if he was interested in the old box the
gun came in. "Did you want it? I was going to throw it out as it is battered, would
you like to see it?" Hogan's jaw dropped "You have the original box?" As of that
time there was only one original box known. This now makes two. The box itself could
bring $30,000 plus the $100,000 + value of the pistol. Did he have any more? During
this visit in the morning the son continued to bring out one fabulous piece after
another setting them before Hogan on the kitchen table, guns from the mid-1850's
through the 1860's cared for by the stepfather, a true collector.

The items were consigned to Rock Island and included in the December 8,9,10 catalog
and sale. Throughout the sale the auctioneers would mention as each piece of this
collection came up for sale "Here's another kitchen table gun," delighting the
attentive crowd who knew the story.

The Colt, circa 1837-1840, touted in the Rock Island sale catalog as "The Finest
Colt No. 3 Belt Model Paterson Known," bearing serial number 51, was the top lot of
the December Rock Island sale hammering down at a new world record of $414,000
including the buyer's premium. The Volcanic in the original box likewise set a new
record at $143,750 and a factory engraved Remington Double Derringer in the
original box brought home a third world record for the collection at $46,000.

In all the Pennsylvania collection from the kitchen table exceeded the original
collector's offer of $8,000 by over 100 times, grossing $850,00 for the woman who
merely wanted a new car. Now she has her pick. Rock Island also set some records in
December with the largest single sale in its history and the largest grossing year
in the history of firearms sales.



Web Site: http://rockislandauction.com

Contact Details: Rock Island Auction
Judy Voss
4507 49th Ave.
Moline, IL 61265
800-238-8022
info@rockisland.com