60 PORTFOLIO MAGAZINE quency that new world record sales are being set gives a clear indication that the value of fine arms is increasing substantially and continues to trend upwards .
Yet , despite this remarkable growth and strings of world records , the hobby of fine arms remains relatively accessible . Entering the peak of the art , collector car , and jewelry collecting fields requires Rockefeller-level bankrolls , but one can enter the field of fine arms collecting for substantially less . Only three offerings of fine arms have ever sold at auction for more than $ 2 million dollars , and all since August 2021 . Better evidence could scarcely be given that simultaneously affirms the low cost of entry at the very pinnacle of the hobby while also illustrating its recent uptick . To say it is an emerging category currently dwarfing their next six to seven competitors combined . Ten years ago the company was setting records with annual sales totals of $ 47 million , then a staggering sum for the industry that some said was unrepeatable . In 2021 , sales totaled $ 121 million .
In decades past , a million dollar gun was a pipe dream , thought to be so unattainable the value was only ascribed to guns so rare collectors weren ’ t even certain they still existed , like the “ Million Dollar Luger .” Compare that to the last several years , a period where RIAC has seen guns breach the seven-figure threshold annually , and often more frequently . The combination of the auction house ’ s annual totals , the growing number of guns breaking the million dollar mark , and the freof collecting is an understatement , and one not without its irony for a hobby that extends back centuries . Kings , members of nobility , and those with means have long exchanged arms as gifts , signs of alliance , or carried them as status symbols .
This combination of being undervalued , attractive , and tangible assets , plus a trending track record of appreciation , all point to fine arms continuing to make headlines for the foreseeable future . As the genre reaches more and more people , thanks to auction houses like Rock Island Auction , collectors and investors alike are along for the ride with an industry raring to reach new heights at the same time more traditional investors are seeking something stable and alluring for their portfolio .