Ted,
Just curious about your comment on the really little gauges having no basis in reality. I'm not hacking on you, truly. I just don't see any difference in motivation of a buyer spending, say $5k for a 80 yr old 12ga sxs of note and $5k for a little gauge of similar vintage. We all know a Mossberg pump will do the same job. So it's not about utility.

My take is that it's all because the next guy is willing to pay more than $4k. I think collectables are all about perceived value and perception becomes reality when acted on.