On May 3, most eyes were on the "running of the roses" for the 151st Kentucky Derby, but in the world of fine and historic arms collecting, they were watching a horse of a different color. A Colt Single Action Army revolver, well-known to collectors as "Black Beauty" realized $1.6 million during Rock Island Auction Company's (RIAC) May Premier Auction. It marks the second-highest price achieved for the model. Black Beauty served as flagship of the May 2-4 event that realized a total of $28 million.
What makes a revolver worth $1.6 million? Black Beauty has a combination of qualities that fine arms collectors find highly desirable. First, it's a Colt Single Action Army, a model internationally recognized for its role in the American Frontier, as well as countless Hollywood movies. The model is a perennial "blue chip" favorite among elite collectors. Second, is its artistry. The revolver was embellished by Master Engraver Louis D. Nimschke, perhaps the most celebrated 19th century American engraver. Considered the artist's masterpiece, it was created at the peak of his career. His lavish designs and generous gold inlays – a scarcely seen feature - made this revolver a suitable presentation piece in 1888 for Mexican President Manuel González Flores. Last, even after 130 years, the revolver's condition remains excellent. While real estate investors often tout "location," in the world of fine arms it's "Condition, condition, condition," and Black Beauty has it in abundance.
"If this was a painting, it would be hanging in the National Gallery," stated RIAC President Kevin Hogan. "Without question, it is the finest example of the most iconic, American-made firearm. They get no better. We've enjoyed Black Beauty immensely, and it's been an absolute pleasure to bring to auction. It's the kind you never forget."
The revolver is also indicative of the fine arms market at large. The auction was RIAC's third highest grossing sale, and also saw the highest average sale price per lot in the company's 30+ years in business.
Other highlights in the three-day auction included a pair of J. Purdey & Sons shotguns engraved by Master Philippe Grifnée which brought $411,250, and a silver plated, factory engraved Henry rifle from the Civil War era that realized the same price.