Walther Forums banner

Prices on P5s

42K views 240 replies 32 participants last post by  Redcat94 
#1 ·
Hey guys, might try to pick one up.

Can anyone provide some guidance on what to expect to pay for the following:

P5 and P5C - Never fired, perfect. All boxes.

P5 and P5C - Great condition. Not perfect. Good for range use or carry.

P5 and P5C - Beat up but still save to shoot. Perhaps lots of wear and maybe even a candidate for restoration.

I know there are TONS of variants. Commercial guns vs police guns, UK bs Denmark etc....

So just looking for some general ideas.
 
#2 ·
P5 & P5C prices can fluctuate quite a bit over time.

P5 and P5C - Never fired, perfect. All boxes. P5 - $1,000 to $1,500. P5C - Add $500.

P5 and P5C - Great condition. Not perfect. Good for range use or carry. P5 - $750 to $1,000. P5C - Add $500.

P5 and P5C - Beat up but still save to shoot. Perhaps lots of wear and maybe even a candidate for restoration. P5 - $400 to $600. P5C - Add $500.

Those are just some wags.....but ballpark. Like anything else, it sometimes depends on luck and timing.
 
#3 ·
I only know what I deem acceptable.


For starters, there really are no BAD variations. I actually prefer the "stepped" mag release (early var) over the "flat". This change made inadvertent mag ejection for LEOs less likely. I think the stepped release is difficult enough.


Also, the later version firing pin dropping spring (easy to see, hole in top of slide near rear sight) is said to SLIGHTLY degrade trigger feel. I have 2 Var4s and 1 Var8, really slight difference.


The top of the prices is obviously NOS, these have NEVER been out of the supply chain or gun store hands, therefore, the best of the best. Expect around $1700/$1800 for the P5, $2100/$2200 for the P5C. Some well regarded firearm auction house attached to sale?? Add $500!!!


NIB, ONLY 1st owner can make this claim!!! He has had EXCLUSIVE access to firearm post purchase, and can attest to it NEVER being fired (or handled excessively, I've seen NIB firearms jacked from dry cycling/firing). Again MY impression of value, $1200/$1400 P5, $1600/$1700 P5C. Auction house? Add $500.


Appears NIB, no longer in first owners hands, looks unfired. My "bread and butter" sweet spot on getting unfired P5s at great prices. $1000/$1200 P5, $1400/$1500 P5C.


A well worn, somewhat dogged 60% shooter. $400/$500 P5


A clean, well maintained +90% shooter $700/$800 P5.


The Dutch destroyed around 50,000 P5s (all police turn ins) leaving slightly over 50,000.
 
#4 · (Edited)
OF seems to think along the same lines.


Edit: Wow, really close values between the two of us! You're will to pay a little more for the P5Cs.


Part of what drives acceptable prices? What the purchaser thinks availability of NOS/NIB/Appears NIB P5s & P5Cs will be in the future. I see the market thinning out some (why I'm grabbing all I can now). Also, the Political winds effect prices.


Part of what keeps my P5C value SLIGHTLY down is the Doll Factor, the loss of .5" makes it seem stunted to my eye.....
 

Attachments

#6 ·
Great guys! Just what I needed to know.

Ok...now dumb question time. A P5 can have the longer barrel or the short barrel and still not be a P5C right?

If I were to find 60% gun that is fully functionall, and restore it....all new bluing, new grips, what would happen to the value?

Let’s say I spend $400 on a gun....put another few hundred in it, will it still be a $400 gun or more like a $600 gun?
 
#7 · (Edited)
Great guys! Just what I needed to know.

Ok...now dumb question time. A P5 can have the longer barrel or the short barrel and still not be a P5C right?

If I were to find 60% gun that is fully functionall, and restore it....all new bluing, new grips, what would happen to the value?

Let’s say I spend $400 on a gun....put another few hundred in it, will it still be a $400 gun or more like a $600 gun?

All P5s are 3.5" barrel (unless you find a P5 Lang, if you do, buy a lottery ticket too, You'll win), all P5Cs are 3." barrel. The M2 mag release makes the P5C a viable carry choice is.


I would think a properly refurbished beater P5/P5C would see a 50% increase in value. I would be all over a Robar NP3 finished "well used" P5 for around $600/$700. Great shooting gun, with a great, super slick, wear resistant finish.
 
#8 ·
The $500 adder for the compact version cited above seems a bit low to me based on what I have seen over the years. I would place the premium on the compact at closer to $750, at least at the better end of condition. FWIIW, I have never seen a compact in poor cosmetic condition advertised for sale, unlike the full-size version, probably because of duty and carry uses for the P5.

I used to think the compact was much less attractive than the P5, but there are some smoothed edges and other touches on the compact that make it quite attractive in person. YMMV
 
  • Like
Reactions: ronin11
#9 ·
I agree, I personally undervalue the P5C at this time. Might be why I don't have one yet.


The south Austin gun store where I picked up my Var8 spotless P5 had five "appeared NIB" P5Cs, $1295 per, HK got the last one a few days before I grabbed the same consigners P5.


I would have grabbed all five P5Cs at that price.
 
#11 · (Edited)
I picked this one up yesterday, for 1k. Sold for 2k almost 4 yrs ago......
https://www.waltherforums.com/forum...-walther-p5-combo-extra-7-65-para-barrel.html
Odd how the purchaser of this new P5 states it came with a 7.65 Para "2nd" barrel. This P5 was PRODUCED with the 7.65 barrel (that is the serialized one in the "package", # matches frame and slide serial#), the 2nd barrel is the 9mmx19 Para un-serialized one.

Check out my "Finally a Classic Walther for Me" thread.


Look familiar?
 
  • Like
Reactions: HKaltwasser
#12 ·
I also keep an eye on auction P5s/P5Cs, to "trend" price/value shifting. If it goes the wrong way, I'll stop the purchasing.


For example, I know there's no P5/P5C "action" on Gun Broker until Tuesday PM, 3 will be timing out then. Will still look a few times a day, for the rare "Buy Now" deals.


I think I'm addicted. Gotta go look for my next "fix".
 
#13 · (Edited)
Here's my track on the P5:


Walther P5 Pistol in 9x19. Blue Book of Gun Values (39th Edition) indicates between $950 in 95% condition and $1500 in 100% condition for this gun. I have 64 recorded prices for this model gun from $505 to $2726 over a period of 3 Yrs 8 Mos ending March 15, 2018. The average price as of that date was $1046. No refurbs, no refinishes, regular sights. Adjusted to two magazines. All represented as 95% or better. No distinction for import location or engineering revision, if any, no special editions, no distinctions for box, papers, tools. Current or last MSRP is $1995. The last 10 prices I have for this model since 2/14/2018 range from $680 to $1499 averaging $1100.


Here's a video that gives a great overview of the P5 spectrum, including one–P5 Lang Sport– with a barrel longer than 3.5 inches.



Here's mine, ID date Code (stamped 9/83) $800 four years ago. Great pistol.


https://s26.postimg.cc/kiv0wm0nt/Walther_P5.jpg
 
#14 · (Edited)
One small detail for those looking for a "shooter" P5.


I made sure my shooter was a Var8 for one reason, the frame mounted trigger stop. If you want the adjustability (set screw in frame), this Var is the ONLY one.


If the "flat" mag release is an annoyance, I'll order the early Var "stepped" mag release from Numrich, cheap part, 5 minute swap.


The pics show the non-adjustable trigger stop P5 (with no "top of slide" hole), the schematic shows the adjustable stop P5 (and the "slide hole" firing pin drop spring). Some wonder when they see a hole in some slides that's not on other P5s.......


Historical Firearms - Walther P5 Developed in the mid 1970s with the...
 
#21 ·
I think I remember seeing the word 'appears' and LNIB. Those are two 'skeery' words....which means they look pretty nice...but they're NOT new, untouched, unfired (aside from test firing). What I want to see in an ad/description is NIB...and even THEN, I won't believe em' until I actually have the pistol in hand to inspect.

I recently took a chance and was pleasantly surprised.
 
#24 ·
The P5C was described as NIB but I don't quite see it. It might or might not be better than the one I actually bought NIB at retail. I have fired mine though so small marks are to be expected. Again, I think all that other junk helps drive up these auction prices. My P5 I purchased used for $600 plus shipping. It came with stippled wood grips and offhand I like mine a little better. Not sure why I follow these auctions. i don't dare register or I'll go broke.
 
#25 ·
OOPS, not so fast .... here's the description of the P5C:

Walther P5 Compact pistol in 9x19mm in like new condition. Comes with factory extra mag, manuals and hard case. The pistol incorporates many new design features, including a new aluminum alloy frame, trigger mechanism, dual-control mechanism,[citation needed] firing pin safety (US patent number 4313274 dated 1979, authored by Walter Ludwig). The Walther P5 is a recoil-operated, locked-breech, 9 mm semi-automatic pistol. It utilizes the same design principles as the Walther P38 pistol of World War II fame. The barrel does not tilt following firing in the way that Browning's system does, but rather moves straight back approximately 5 mm (0.20 in). This system results in a very accurate pistol since the barrel is kept parallel with the frame during/after firing. The trigger is a standard double action/single action trigger. The slide lock also doubles as the decocker and is found on the left side of the frame. Pressing it once will release the slide, pressing it a second time will drop the hammer without firing the gun. Manufactured in Ulm, West Germany, by Carl Walther Sportwaffen GmbH, the P5 was a further development of the famous Walther P38 and P1 series. Buyer responsibility to check state and local laws before bidding. Buyer responsibility to find local dealer for transfer.

I spent a few years in DC. I listened to lots of long winded BS'ers blabber. They'd sound wonderful....BUT in the end, they NEVER answered my question or committed to anything.

Just like the listing for the P5C above. He says its in like new condition. Ha, that's just his opinion...it was never his gun and he has no idea about its actual history....he just wants to sell it to the highest bidder.

He succeeded.

Here's P5 listing:

Penny start and no reserve! Up for auction is an extremely nice, still in the factory box Walther Model P5 semi automatic pistol. Chambered in 9MM, 3.5" barrel, blue finished, single/double action with de-cocker, exposed hammer, and factory fixed sights. Gun is in excellent condition with a perfect bore and action. Gun appears to be as-new and possibly unfired since the factory test fire (factory test target included). Gun also includes the original manuals, cleaning rod, and 2 factory 8 round capacity magazines. Super nice and highly collectable Walther!------------Shipping will be $25 for FedEx shipping service, local pickup is available. Additional charges for HI and Alaska shipments. Please know your local and state laws before bidding. California and C&R license holders okay to bid on approved items. 90 day Layaway available with 20% down at auction end. Texas residents must pay sales tax of 8.25%. Payments must be received within 10 days of auction end. Final price reflects a 3% cash, check, or money order discount. Credit cards are accepted but do not receive the discount and must add 3% to your purchase total. Immediate online credit card checkout is preferred but call in payments are also accepted at 4%. Returns are accepted but will have a 15% restocking fee and will only be accepted within 3 days of delivery confirmation. Return shipping is buyers responsibility. Please if you bid and win, PAY FOR YOUR ITEM!! We ship very fast with immediate tracking posted in your feedback section on Gunbroker. Thanks and good luck bidding!

More happy horsechit, and apparently, it worked.

I just want to see NIB. Not, appears................or LNIB.....
 
#27 ·
He drew them in with the NIB caption and kept it ambiguous. You are quite correct. Careful not to claim it for real. Buyer will probably be satisfied though. The more you pay the more you value it. Both of these guns are nice and most people don't buy these as real investments. They wanted one and now they have one.
 
#28 ·
The more you pay the more you value it. Both of these guns are nice and most people don't buy these as real investments.
An interesting observation on price paid correlating with how much one ‘values’ a particular gun. This might explain why I really, really ‘value’ a couple of mine.

As for an investment, I have come to the conclusion that many (most?) guns are a poor to middling investment when properly corrected for inflation and other conveniently-forgotten costs (e.g., FFL fee, shipping, taxes). For example, a $1200+ P88 that seems like a lot of money now is actually worth no more than it was 30 years ago in terms of buying power. Does somebody buying a Colt Python today for $2000 really think it will be a great investment when they cash out in 20 years? Well, that is rhetorical, they might think that it is... :D
 
#31 ·
Well i just got notice that i won a P5 shooter for 490.00 . This will be a refinish police gun to blast away. I will have this one refinished.

On another note, Ted Cruz for the win, down with Beto!

Nice grab.


I took delivery of my shooter on Monday. That P5 is a great deal at that price.


I'm currently high bidder on a 5th P5, spoke with the seller this morning.
 
Top