Questions?
Do you want a 1911A1?
Would you willingly pay more than a similar non-commemorative 1911?
Would you give the man $500. and receive nothing in return?
There will probably be more commemoratives for sale NIB than NIB commercial sale 1911s from the same time period. You decide which is more desirable.
If you believe there is more desirability to the commemoratives, but you are going to shoot it, you will shoot that desirability off of it immediately.
None of this tells you what it's worth. It will only establish what your motivation is.
To establish what it's worth is fairly easy though the current market is a poor example of the long-term market. A lot of FFLs that deal in used guns have an account with GunBroker that allows them to pull up the previous year's sales of specific types of firearms. If you know an FFL well enough that he would pull the record it will tell you about as much anything.
Keep in mind that the internet auction results will reflect a consignor's fee, a shipping fee, a FFL's receiving fee, a transfer fee and the 1911 would "on the books". Many auctions also charge a buyer's premium. When you value the pistol you are looking at consider that your neighbor would be paying some of these fees and that you would be paying others if you bought off the net. There is currently a 1911 on GunBroker that is similar to what you are looking at. It is a pure sale item which simply means it starts at close to zero and sells to the highest bidder at the term of it's listing. Even then, keep in mind that it only takes two stupid buyers to take any item to stupid money.
Of course, nothing in this that reflects a possible valuation other than the reference to GB. So here goes and understand that this is a personal opinion. I am not a 1911 guru but I have been trading guns for over six decades and have bought, sold and traded hundreds of firearms which only makes me, only, a very small fish in a very large pond. First of all, I would not buy the commemorative at any figure other than stupid cheap. It simply would have no interest to me other than it is a JMB design. That figure would be around $700.00. At that figure, who cares, and it would be a disservice to your neighbor. The problem in all of this is that your neighbor is unlikely to go through all the crap that it takes to list and sell through one of the auction sites. If you tell him to list it he probably won't. He will most likely sell it to a local dealer and I'm guessing the offer to buy will be in the $700. neighborhood or less.
I would consider it a favor if you paid him $1000. for it. It doesn't sound like it is a favor but with another $500. you can buy a used DW 1911 which is a vastly superior 1911 platform. If this is actually about your respect for this man's service and your respect for him as a neighbor, I have a suggestion. I will qualify this suggestion with the caveat that I am a RVN vet. of 1yr. 6mos. and 11 days. I did not have a combat MOS but I respect any vet. who served during that time and I don't give a shit whether they spent their time in Germany or the RVN. The guys that served in RVN could not have done so without the guys that served in Germany in the time period. I would suggest, that while the old boy is still ambulatory, that you and your wife take he and his wife out to the very best dinner in your neighborhood. Tell him thar you appreciate his service and that you appreciate having him as a neighbor. It may, or may not, mean more to him than anything else you could do.
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