An exceptional, rare and fine ivory-gripped Texas, or Holster Model No. 5, Paterson Revolver from the Al Cali Collection realized $977,500 as part of Greg Martin Auctions/Heritage Auctions Sept. 18 Signature® Arms & Armor Auction in Dallas, setting a world record price realized for a single Firearm sold at auction. All prices include 15% Buyer's premium.

It was purchased by an unidentified West Coast collector, who auction house officials will only identify as a Silicon Valley mogul.

"There are certain collectibles that transcend genre, period and form and exist simply as great works of art," said Greg Martin, President of Arms & Armor at Greg Martin Auctions/Heritage Auctions, "and clearly this supremely beautiful firearm is such a thing. The nearly seven figure final price realized proves just how great a piece this is, and well worthy of being the world record holder."

The auction, altogether, realized more than $8 million, with 583 bidders vying for 378 lots, translating into a 90% sell-through rate by lot value. Altogether, the top four lots of the Cali Collection brought more than $3.277 million.

"I'd say they got it pretty much perfect," said Martin. "It was a gilt-edged investment then, and it's a gilt-edged investment now."

Read more »

Heritage has been looking to increase our reach into Arms & Armor for quite some time, just waiting for the right opportunity. Our new association with Greg Martin allows us to expand our portfolio and product offerings in a key market segment with a leading company, further enhancing our presence in the marketplace and providing increased opportunities to collect and consign for our valued clients.

Greg Martin Auctions was founded in 2002 by Greg Martin, John Gallo and Bernard Osher, the same management team that built Butterfields & Butterfields' (now Bonhams & Butterfields) antique arms & armor department into the world's largest, a position it held for decades. Greg Martin and staff will continue to office in San Francisco, and Live firearms auctions will be conducted at the various Heritage offices in Dallas, New York and Beverly Hills.

Should you have Arms & Armor you are considering for auction, please contact Greg Martin Auctions at 214-409-1883.

Learn How

• Consign to auction or get a free auction evaluation today.
• Should you consign to a Heritage Auction?
• Everything you need to know about estate planning.
• See what other collectors have to say about Heritage.
• Meet our Consignment Director team.

Note: We offer special Profit Opportunities for dealers and collectors via joint venture and partner relationships. If you know of quality objects for sale, Heritage can finance the purchase (either 50-50 or fully funded basis) and split proceeds after costs. We also offer generous Finder's Fees on auction consignments.