Chairman’s Collection Colt Python Elite Stainless .357 Magnum Revolver 1998

SOLD FOR: $5812.99

LSB#: 230521CG003

Make: Colt

Model: Python Elite (Model #I3060CS)

Serial Number: PE00505

Date of Manufacture: 1998 (COLT Serial Number Lookup)

Caliber: .357 Magnum

Action Type: DA/SA Double and Single Action Revolver with 6-Shot Swing-Out Cylinder

Barrel Length: 6”

Sights/Optics: The front sight is a ramped blade with serrated orange insert pinned to the top of the rib. The rear sight is a white outlined square notch adjustable for windage and elevation that is pinned to the top strap. The top of the barrel rib and the topstrap have a matte finish to reduce glare.

Stock Configuration and Condition: The grips are two-piece checkered black rubber with silver-colored Colt medallions. The grips have some scattered scuffs and rub-marks with a spot of more notable wear at the top-rear. The checkering is well defined. There are no rips or tears. Overall, the grips are in about Fine condition.

Type of Finish: Stainless Steel

Finish Originality: Original

Bore Condition: The bore is bright and the rifling is sharp. There is no erosion in the bore. In this writer’s opinion, the bore rates 10 out of 10.

Overall Condition: This revolver retains about 97% of its metal finish. There are some scattered minor nicks, scuffs and small scratches. The action shows minor operational wear including a thin turn-line on the cylinder. The screw heads are sharp. The markings are clear. Overall, this revolver is in Fine-plus condition.

Mechanics: The action functions correctly. The lock-up on this revolver is solid, with no play when the trigger is depressed. The trigger is smooth in double action, and crisp in single action. We have not fired this revolver. As with all used firearms, thorough cleaning may be required to meet your maintenance standards.

Box, Paperwork, and Accessories: This revolver comes in a blue plastic Colt case with serial-matching label and a Colt Archives letter. The letter indicates that the revolver shipped August 19, 2016 to Newington Gun Exchange in Newington, Connecticut. More details from the letter are discussed in Our Assessment.

Our Assessment: In 1955, the United States launched the first nuclear-powered submarine, West Germany joined NATO, and Colt began shipping the finest precision combat and target revolver ever made. Each revolver was hand-tuned at the factory and this attention to detail is exemplified both cosmetically and in operation. With barrel lengths ranging from 2.5? to 8? (this example is 6”) and with some of the finest machining and finishing ever seen in the industry, the Python has earned its reputation and continues to be sought after to this day.

As successful and groundbreaking as Colt has been, it has also seen some financial troubles. In the early 1990s, Colt entered bankruptcy but Donald Zilkha, founder of Zilkha & Company, was able to raise funds to allow Colt’s to exit Chapter 11 in 1994. Zilkha would assume the title of Chairman of the Board, later serving as CEO, and left Colt’s in 2013. While Colt’s donated some firearms to the Connecticut State Library during his tenure, there were others retained in the ‘Chairman’s Collection’, and this is one such example. This Python Elite is from the Chairman’s Collection as noted in the included Colt Archives letter. It was shipped to Newington Gun Exchange in Connecticut in 2016, presumably when it entered private hands for the first time.

Any Python would be a great addition to a collection, especially a Python Elite. This example from the Chairman’s Collection will add to even advanced Colt collections and is an opportunity which will likely not be encountered often. If you are a dedicated Colt collector, don’t pass up this fantastic example of the Python Elite. Good luck and happy bidding!

Please forgive any typos, I was educated in California. -Bud

Chairman's Collection Colt Python Elite Stainless .357 Magnum Revolver 1998
Chairman’s Collection Colt Python Elite Stainless .357 Magnum Revolver 1998