Thursday, October 9, 2008

Historic Colt pistol sells for $920,000 in Maine

FAIRFIELD, Maine (AP) — An auctioneer in Maine says the sale price of a historic Colt Walker pistol has broken a record for all guns made by the company.

The James D. Julia auction house says an anonymous bidder paid $920,000 on Tuesday for the .44-caliber revolver. It was made for U.S. marshals in the 1840s and its previous owner says he never fired it.

The price includes a buyer's fee of $120,000 charged by the auctioneer.

Julia was also the auctioneer for the previous Colt record of $480,000.

The gun was an heirloom passed down from John McBride's great-great-uncle. The 80-year-old from Montana says some of the money will be used to buy land in that state.

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