Winchester 32-20

Question
Doug, i have a neighbor who has a gun and i think he needs to get some insurance on it. It looks like the one you use to see in the western movies. He does not want to sell it and he doesn't know how much to insure it for. I would say it is probably 85-95% condition. Winchester 32-20, model 1892, serial number 100349, pat.date Oct 14, 1884. If you could give me a ballpark figure that he could insure it for i sure would appreciate it. He's had it over 50 years. Thanking you in advance for your help. Wade

Answer
Wade,

Your friend has a very nice gun if it exactly as you describe.  Overall, his Model 1892 is probably worth quite a bit.  In 80% condition, it would be worth right at $1700.  A specimen in 95% condition is easily worth $2600.  Since these numbers will probably just go up, particularly with the popularity of  'Cowboy Action Shooting', I would probably insure it at between $2500 and $3000.  I will let you know that at this level, the insurer is probably going to want an 'appraisal' from a knowledgeable firearms appraiser or dealer.  Make sure you find someone that knows their stuff and also make sure that you tell them it is for 'insurance purposes'.  If they think you might be trying to sell it to them, they may offer you less than it is actually worth...

Hope this gives you what you are looking for...

Doug