P38 Values

joe n

joe n

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I have seen some really nice P38 pistols for sale on the EE lately. All of these are of course of wartime production. Is anyone else surprised they really have not increased in value and demand over the last few years, unlike many of the other German small arms?
Just curious, is the interest not there? Everyone wants a Luger, but here is a genuine wartime example of a dependable sidearm, restricted and not 12(6) and in a common calibre. Any thoughts?:)
 
I think some collectors go for the Mauser and Walther made examples whereas the cyq pieces are put on the back burner. I also think the values are affected by the fact that P38s are probably the most common vet bring back to Canada with WW2 Canadian troops coming home.

Lugers are all over the place but I think the WW1 examples bring in a premium compared to the WW2 examples that appear to be more common.

The P38, from my experience, is easy to take care of and forgiving not to forget being ergonomic for your hands. When taken care of, the P38 can be just as reliable as a newly made firearm.

Walther basically took the Luger design and modernized it with some of his changes and the design still prevails today with the action being copied, more or less, in modern side arms.
 
Joe

i have been wondering the same thing, although I believe they have increased somewhat, just not at the same pace as the general market of German firearms. Hey, maybe we have a sleeper collectable that we will see some nice increases over the next few years.

On one hand, considering the Luger is a prohib, one would expect to see more interest for the P38. On the other hand, most P38's just dont seem to have the quality of finish and machining that the Luger and many other German firearms have.

The new twist is the recent influx of post war P38s in near new condition. For those that just want to just have an example, they will buy these at the lower price than to have a genuine WW2 firearm.
 
Ive been very surprised by the lower prices of the P38s. It seems just a while back a nice wartime piece for 600-800 wasnt unheard of. Now I have seen a few excellent examples in the 500 range that havent been touched.
 
As to why the P38 hasnt caught up with collectors ?? I think it's on a long term basis that we'll see an real increase in value on these....(but there are some very serious Collectors of these in Canada !!)

You're right on when you say ''everyone wants a Luger'' ....but who's buying ?? Gone are the days (except for that lucky shot everyone dreams of) when you could buy an all-matching WWI / WWII Luger for $500.00. High grade specimens go in the 1K range nowadays so again ``who's buying ?? Not too many of those prospective buyers are ready to dish out that amount of cash for one....Plus the fact it's a 12-6 !! Holders of this classification are diminishing fast in the last few years !! I personally lost a few fellows last 2 years...

So when there's gonna be no one left to posess Lugers THE WWII German sidearm to have will be the P38. Long term I believe...

From a different perspective I'll say that real Canadian Collectors of both Luger & P38 pistols are only a handfull. I'm not talking about the ''guy that has one'' & says he's collecting, talking serious Collectors here...As I consider myself one of those I'll simply submit the following situation happening too often: should I buy this example which I already have in double in my collection ?? Do I need a triple specimen of this specific common variation ?? Clear answer is NO !! Sometimes this is the situation on hand for that collector considering a purchase on the EE....so the pistol gets ``btt'' a few weeks in a row...because that guy was the only possible buyer for this piece !! Common & average stuff will most often get passed by, high grade / rare pieces get snapped in a flash...

Case in point for all serious German WWII sidearms afectionados....How long do you thing this one would last on the EE ??

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I guess everyone has ID'd it properly as a German SVW 45 ''F'' block, WaA135 proofed produced in the first week of April 1945 (Mauser plant fell to the Allies third week of April 1945). This specific pistol is the only SVW 45 WaA135 proofed P38 I've encountered in many years of collecting...and there's already a lineup on it for the day I'll decide to part with it...(another case in point: collectors often trade pieces directly so these dont go on the open markets)

Lastly I'll talk about Spreewerk P38s...''the neglected child'' of the wartime P38s. Yup their fit & finish isnt on par with Mauser / Walther but they are very interesting pistols to collect !! 8th different variations, incredible differences on the various barrel bands produced (this alone makes them fun to collect), the ''broken die'' theory for the CVQ marked ones (how many have you seen ??) the last effort # 00 series.....etc. Someday they'll be recognized for what they are !!

In closing, dont forget the economy of the last few years. Flat, very flat on all counts everywhere....When it's gonna be back to standards, P38s values will get back up there where they were....

Mk
 
the turn in the economy is starting to show . P38's seem to be the first to take a hit with a $150-200 drop in price. P38's that were $550 last year are $350 now around here . most prohibs .32 $75 -$150 German or not.
 
I would buy a P38 for $350 any given Sunday. They used to be common for $550 or less, but I have seen them slowly sneaking up to the $700 mark.

CYQ are the least desirable (fit/finish) and there are always more rare examples that command higher prices.
 
Not many people buy wartime P38s as shooters nowadays. Based on what I saw as a kid there were a lot more P38s than Lugers brought home by WW2vets. I have my late uncle's byf 44 that he brought back from Europe. I used to shoot it as a young fellow and thought it was pretty cool. Not as cool as a neighbour's Broomhandle Mauser, but still pretty nifty, and with a story behind it. Funnily enough it came back in a Luger holster.

The late cyqs can be pretty crude looking with heavy milling marks and cog hammers, but they were a product of some desperate times and can't be expected to match the early Walthers in terms of finish. In later years we started seeing imports that bore re-work stamps and obliterated Nazi markings from E. Germany which made them less appealing. I got hold of a Walther HP which had the swastikas removed, but it's still a Heeres Pistole.

Like a lot of folks, I went through both a P38 and a Luger phase and still have a number of them. I still enjoy shooting a 1914 DWM Luger from time to time. It is one of the most accurate handguns I've ever handled.
 
What's this old beater worth?
P38-01.jpg

P38-02.jpg

I think it once had a swastika on the right side of the slide but appears that it was filed or scratched over.
 
Part of the issue is the proliferation of cheap post-war P38's and P1's - meaning the wartime guns are only sought by collectors and there is enough supply to meet that demand.

Guys who just want a representative blaster can get a "new" P1 for $300.
 
Anyone who was a Transformers fan as a kid should want one of these. Clearly there aren't enough of us out there to drive the prices up.

Quigs
 
Paatz said:
What's this old beater worth?
P38-01.jpg

P38-02.jpg

I think it once had a swastika on the right side of the slide but appears that it was filed or scratched over.
Click to expand...

It is at least worth the sum of parts. Grips look good and run for $100-150 alone. Mag $50-150

It is a mid-late war Mauser produced (1944) P38. Some pretty heavy surface pitting, but it looks like it is still shootable and functional.

At least $350 (parts gun - or a shooter), but someone might pay as high as $450-500. Often these pitted guns have stories behind them (found in a ditch etc.). To the owner, this may add intrinsic value (uncle, father or grandfathers bring back).

If I had a bringback even in that condition with family lineage, I wouldn't sell it for any price.

I am sure some of my German pistols are bring backs, but they are not documented, so there is no value added.
 
Claven2 said:
Part of the issue is the proliferation of cheap post-war P38's and P1's - meaning the wartime guns are only sought by collectors and there is enough supply to meet that demand.

Guys who just want a representative blaster can get a "new" P1 for $300.
Click to expand...

And that is, IMO the crux of the issue. There are lots of war time bring backs, and to top it off, there are lots of cheap post war examples as well... Although if supply dries up for the "new" P38's and P1's, and demand keeps growing, we will see a steady increase in the value of both pre and post war P38's.
 
Yup. I haven't read it yet, just picked up the Treasury edition today. It also has articles on the Enfield P14, rifles of the Franco Prussian wars and the BAR.
 
There is sure a lot of info available on the P38s today compared to when I started playing with them as a young fella. Back then we wouldn't have known a Mauser from a Spreewerke. One thing we used to wonder about was why some grips were black, when others were dark or light brown. The waffenampts always were a topic of discussion though; dirty nazis and stuff.
 
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