When No. 1's and No. 4's were common as cordwood, up until, oh, 15-20 years ago, the No. 5's would command a bit of a premium. Less of them made, generally in good condition (hadn't been dragged across the western front for a few years), and a handier rifle for bush hunting, even if they had a reputation for packing a kick and not being as accurate.
But as the supply of surplus No. 1 and No. 4's dried up, they saw a steep rise in value. I suspect a lot of No. 5 owners figured "Well, if a No 1 or a No 4 is worth X now, then my No.5 must still be worth a lot more."
But that isn't the way the collector market works. The No. 5's have a much more limited embedded history. They didn't see action, to any significant extent, in WWII. You don't see them in the movies. It isn't the rifle "Grampa carried on Juno Beach."
Scarcity doesn't always impart value. Even though there are a lot less No. 5's around, they also aren't as sought after for their historical significance. I'd pay more for a nice Longbranch No. 4 than I would for a mint No. 5, and I suspect most collector's feel the same.
Watching the price of all the Enfield's go a bit goofy, I'm just glad I already have 1 of each (which is all I want, a nice one of each of the 3 main varieties). Whether it's for collecting, investing, or shooting... Right now I'd say the market is hold it if you can, buy on a good deal if you can. I don't think we're anywhere near the top of the market on these. If you sell it now, you'll probably be kicking yourself in 5 years.
