Rock Island Auction Company

May 30, 2018

Top 10 Most Expensive Colt Python Revolvers Ever Sold at Rock Island Auction Company

By Joel R Kolander

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If you follow the collector firearms market, you know Colt Python revolvers have undergone an explosive rise in price over the past few years. With a nickname like “The Rolls-Royce of Colt revolvers,” it’s easy to see why. Pythons are always a fan favorite because they are gorgeous and sure as hell fun to shoot.

We might have snake problems at Rock Island Auction Company.

If regular Colt Python revolvers fetch a high price, see what it takes to make the list of the 10 best Colt Python revolvers sold at Rock Island Auction Company. These are some of the finest, rarest, and most desirable Colt Pythons known to collectors.

10. Rare First Year Production Serial Number 105 Colt Python Double Action Revolver with Box: $20,700 (April 2018)

Colt Pythons are revolvers that immediately catch your attention. Whether you’re more interested in modern or contemporary pieces, nothing beats the clean and polished look that a Colt Python in good order can exude. Besides being an incredibly beautiful piece of weapons technology, the Colt Python is also extremely accurate.

colt-python-DAIn April of 2020, this rare first year production, serial No. 105 Colt Python sold for $20,700 at Rock Island Auction Company.

This stunning first year production (1955) Colt Python is also featured in the same video as shown in #8 and even came from the same collection. As the second of the first-year production Python collector firearms on this list, it is the second earliest at SN 105. Considering that only 299 were made in that first production year, finding and owning one is a real treat for snake gun aficionados. It sold in 2020 at the April Premier Firearms Auction for $20,700.

9. A.A. White Signed Master Factory Engraved Colt Python Double Action Revolver Inscribed to “The Father of Talk Radio” Barry Gray: $20,700 (April 2018)

…and now for something completely different. Kind of. This is still one of the gorgeous Colt Python collector firearms that sold in the previous sale as the last two, and is featured in the same video. However, in addition to its sterling condition, this Python has the honor of being engraved and signed by Master Engraver A. A. White before being presented to noted radio celebrity Barry Gray. Known as the “Father of Talk Radio,” Mr. Gray seldom skirted the controversial issues on his show, gun control being one of them.

colt-python-sold-at-RIACThis A.A. signed, master engraved Colt Python revolver sold in 2018 at Rock Island Auction Company's April Premier Auction for $20,700.

He would eventually become a Colt collector himself before his death in 1996. The New York Times obituary of Gray states that he was “radio’s longest-running, highest-paid, and most controversial interviewer, loathed and loved by his listeners.” The gun itself is kept tastefully simple with its near perfectly executed scrollwork. The opposite side features a gold inlaid “serial number” of BG-1, and the presentation inscription “To Barry Gray, With Compliments of Colt Firearms.”

crook-control-python-revolverSelling for $20,700, this beautiful Colt Python revolver was one of the most exciting items of the April 2018 Premier Auction.

Perhaps of more interest to collectors are the unique and smooth grips inset with the Colt Custom Shop medallions and the muzzle inscription that reads, “Crook control.” All of this was enough to earn this particular revolver a generous spread in the collector firearms book by R. L. Wilson’s The Art of the Gun: Magnificent Colts. It sold during the April 2018 Premier Firearms Auction at Rock Island Auction Company for $20,700.

8. Matched Set of Colt Python Snake Eyes Double Action Revolvers: $23,000 (September 2020)

Snake eyes! The gambling motif has long been attached to revolvers thanks to the Wild West days on the American frontier, and seldom is this more apparent than with this matched cased set of Colt Python double action revolvers found in the September 2020 Premier Auction at Rock Island Auction Company.

snake-eye-colt-pythonsThis matched set of Colt Python revolvers sold for $23,000 during the September 2020 Premier Auction.

Held within a gorgeous wood frame box, internally lined with bright green felt, the presentation of these guns is enough to energize even the staunchest of Colt critics to place bids. Manufactured in a limited run of 500 sets, the only thing missing are some good buddies to throw some cards with. Along with smooth grips featuring two dice scrimshawed on the left panel and playing cards on the right, this lot sold for $23,000 and is sure to make the next poker night something special.

7. Colt Python .22 Magnum Rimfire Double Action Revolver: $23,000 (May 2017)

If you watched our videos on the topic, you know that some folks think that all .22 caliber Colt Pythons are fake. We’ve shown that to be false, and this is the revolver that serves as proof. This particular Python, in its .22 magnum rimfire chambering, was pictured in the 1981 Colt catalog, though the caliber was never mass produced.

colt-python-magnum-22This extremely rare Colt Python revolver in .22 magnum rimfire that was used in the Colt 1981 Product Catalog sold for $23,000 in May of 2017 at Rock Island Auction Company.

The cylinder is chambered for .22, and the barrel is sleeved for .22, but the forcing cone is still that of a .357 magnum, making this gun unsafe to fire. To help ensure that it would never be used unsafely, the firing pin was also removed. At one point it was given to Colt District Manager Lewis B. Sharp for his work “to get the 8-inch barreled Python added to the product line in 1981,” by then Colt Vice President Dave Davis. It sold in May of 2017 for $23,000 at Rock Island Auction Company's Spring Premier Auction.

6. Rare Early First Year Production Two Digit Serial Number "61" Colt Python Double Action Revolver with Box: $25,875 (June 2020)

Colt Python revolvers are significantly desirable to many collectors because they are the perfect combination of history, mechanics, and beauty. Over the years, minor imperfections found in older models were phased out and worked out to improve each version year after year. Not only did this make an already impressive gun even more attractive, but it made older models something of a novelty.

low-digit-colt-pythonThis rare early first year production two-digit serial number "61" Colt Python Double Action revolver sold for $25,875 at the June 2020 Premier Firearms Auction at RIAC.

This rare early year production Colt Python has a two-digit serial number and was one of the earliest of the double actions to be produced. Manufactured in 1955, the first year of production, this revolver was one of only 299 made that year. Because of such a limited number produced, the value of these is extremely high. This model sold for $25,875 (more than twice its high estimate) in June of 2020 at Rock Island Auction.

5. Cased Pair of Colt Python Double Action Revolvers Documented to Famous Texas Ranger Captain "Jay" Banks with Holster Rig: $25,875 (June 2020)

These two Colt Python revolvers are documented as belonging to Texas Ranger Captain E. J. "Jay" Banks. Banks became a Texas Ranger in 1947 after previous work in local, county, and state law enforcement. In 1950 he, along with other Rangers, are credited with apprehending the notorious Los Angeles-based gangster Meyer Harris "Mickey" Cohen in the Kemp Hotel in Wichita Falls, Texas, "escorting" him to a plane out of Texas, and "advising" him to never return.

Texas-Ranger-Captain-Jay-BanksPhotograph of Texas Ranger Captain "Jay" Banks.

Banks was also involved in bringing the notorious killers Gene Paul Norris and Bill Humphrey to justice in 1957 after a high speed chase and shootout which ended in the deaths of both Norris and Humphrey.

texas-ranger-colt-python-revolversTexas Ranger, Captain "Jay" Banks' revolvers sold at Rock Island during the June 2020 Premier Firearms Auction for $25,875.

Both of these Colt Python revolvers were manufactured in 1982 and came complete with a a notarized letter signed by Banks listing the revolvers by serial number and stating that the revolvers belonged to him, and a Colt hardwood case that holds both revolvers with a presentation plaque on the lid to the Ranger, and a gun belt. They sold during the June 2020 Premier Firearms Auction for $25,875 at Rock Island Auction Company.

4. Desirable First Year Production Two Digit Serial Number “54” Abercrombie & Fitch Shipped Colt Python Double Action Revolver with Factory Letter and Box: $25,875 (September 2017)

Currently this is the lowest serial numbered Python that we have ever sold (though SN 14 is slated for our September 2018 Premiere Auction). Not only is it an extremely early production model, but was also shipped to retailer Abercrombie & Fitch on November 16, 1956. Back then, it would have retailed for a not-inexpensive $125 (over $1,100 in 2018 dollars).

Abercrombie-Fitch-Colt-PythonIn 2017, this beautiful Colt Python revolver for Abercrombie & Fitch sold at Rock Island Auction Company's September Premier Auction for $25,875.

A stunning piece of firearms technology, this gorgeous revolver is breathtaking, to say the least. The crisp checkering on the grips illuminates the golden Colt medallion located in the center. Along with its un-numbered replacement Colt Python box, this impressive lot sold for $25,875 during the September Premier Firearms Auction in 2017.

3. Documented Experimental Colt Python Double Action Collector Firearms in Extremely Rare. 256 Winchester Magnum: $40,250 (April 2018)

Please notice the sizable price increase from the previous Python on the list. This rare snake gun originally began life as a standard .357 Magnum Colt Python. However, with the introduction of the .256 Winchester Magnum round in 1960, Colt thought the Python was the perfect revolver to take advantage of the new cartridge, and so took this gun off the production line in March 1961 and sent it to the Colt Engineering Department for conversion into the new caliber. This is documented in R. L. Wilson’s The Book of Colt Firearms.

excellent-colt-python-for-saleAn extremely rare Colt Python in.256 magnum sold for $40,250 during Rock Island Auction Company's Spril 2018 Premier Auction.

Experimental calibers such as this are rare as hen’s teeth for Python collectors, and it showed in the sale price. It sold in April of 2018 at the Premier Firearms Auction for $40,250 at Rock Island Auction Company.

There are almost too many details to discuss them adequately. This phenomenal cased Python was engraved by Howard Dove, and the grips and grip cap work was done by Leonard Froncolini, each a master engraver. Patriotic gold inlays, superb engraving down to the hammer and trigger, silver scenes on the grips, the handsome rosewood case, and the stunning exclamation point of the grip cap all made this set an easy choice to feature on the cover of the 2017 Standard Catalog of Firearms.

engraved-colt-pythonThis cased and master engraved exhibition-quality gold inlaid Coly Python revolver sold for $54,625 in 2017 at the September Premier Firearms Auction at Rock Island Auction Company.

It originated as a private commission from Art Jewel Enterprises in Carol Stream, IL, for a California-based collector, and remains in near mint condition. Manufactured in 1978, this revolver is one of the finest known exhibition quality Colt Python collector firearms – a true piece of modern firearm art.

beautiful-colt-pythonThis beautiful Colt Python revolver engraved by Howard Dove sold for $54,625 at the September Premier Firearms Auction in 2017.

As the second most expensive Colt Python ever sold by Rock Island Auction Company, this gorgeous revolver is absolutely stunning and sold during the September 2017 Premier Auction for $54,625 at Rock Island Auction Company.

1. Historic Extremely Well-Documented Exhibition Quality Engraved, Inlaid and Carved Colt Python Double Action Revolver Presented by The King of Rock & Roll Elvis Presley to Employee Richard Grob: $172,500 (May 2017)

What other gun could be king of this list than one belonging to The King, Elvis Presley. This extraordinary Python came to Rock Island Auction Company along with a Smith & Wesson 19-2 he presented to then Vice President Spiro Agnew, a bejeweled sheriff’s badge, and numerous historical documents. Elvis gave this Colt Python to his director of security and close personal friend, Richard Grob. Its provenance is flawless and extensive establishing itself firmly as an exhibition quality revolver owned by an American icon.

Elvis Presley: Revolvers of the King

Notice the expertly executed scroll work, alternating gold and platinum inlays, beautifully scrimshawed grips, and the five North American wild animals wondrously depicted in gold. A sensational showcase of the gunmaker’s art combined with an iron clad provenance to a legendary performer added up to a world record price for a Colt Python. It sold during the May 2017 Premier Firearms Auction for $172,500 at Rock Island Auction Company.

Colt Python Excellence

There you have it firearms friends! Those are the top 10 Colt Pythons ever sold by Rock Island Auction Company, and frankly, it’s a pretty good list. Far from a list of firearms barely discernible from each other, the top Colt Pythons are a really neat variety of finishes, history, embellishment, and rarity.

elvis-colt-pythonA beautfully embellished Colt Python revolver belonging to Elvis Presley sold at Rock Island Auction Company for $172,500 in May of 2017.

It’s characteristics like that which help keep collecting fun and make for an interesting and visually attractive collection. Time will only tell how far these snake gun prices can go, but for the foreseeable future, they’re still on their way up.

Joel from Rock Island Auction Company explores some of the rare and unusual Colt Pythons that have sold at auction. 

As always, if there are any questions regarding consignment, registration, and future auctions, please contact Rock Island Auction Company. The standard for excellence is always growing here at Rock Island Auction Company, so be sure to check back for updates to this list throughout the year.

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