Model 12 had a lot of collector interest 23-30 years ago and prices were very high due to demand. Today those same buyers are "old fart" sellers as my wife calls us. Model 12 demand is soft. Very few younger shooters have any interest in learning how to operate a pump gun. It is all about Beneli SBE3 and other black guns or semi autos and as they get a bit older perhaps a O/U. Graded and upgraded model 12s, which too many graded guns are in fact, still command a good price but a plain barrel Model 12 has so many competing examples that they are cheap. The only field gun which still commands a good price is a 3' duck gun in solid condition.
37 owners have always been a more of a shooting interest, versus collecting interest, so they never went up that much in price. The shooters see no reason to dump their collections right now because they never over paid for them in the first place. Plus we like to shoot them and find them a hoot to shoot at sporting clay's and in the field. When I take my 28 or 20 dove shooting there is always someone who wants to look at it and marvels how smooth it pumps and fast it handles. People are so use to seven pound semi autos that a five to six pound gun is a magic wand to them. I like the solid rib versions and have several in 12, 16 and 20. The quality of wood Ithaca used puts Winchester wood to shame as well.
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