Watch this guy: if you can find ANY original Lugers with matching serial numbers for $1,200, buy it! An original DWM WWI-era Luger in presentable and matching shape goes for upwards of $2,000. Nazi-era stuff like the S/42 Luger go for about the same amount. Rarer stuff like K-date or G-date Lugers or prewar commercials go for even more.
I own a really rare 1906 American Eagle Luger in 9mm in pristine shape and it's worth North of $8,000.
$1,200 indeed...
“It screams “bad-boy gun” because of its Nazi past, and rarer Lugers such as the ones chambered for the 7.65-millimeter round sometimes sell in excess of $1,200.”
The 7.65 chambered lugers are quite common and tend to be valued a little less than the military 9mm copies. The rarer lugers in decent condition can sell for well over $2000 but a common 7.65 in very nice condition (which they often are because they didn’t get hard use in the military) will sell for about $1100 at this point in time. Lugers are rather common collectibles because there might have been 3 million of them made before 1945. There are a great many variations on the basic theme, though, and the values vary accordingly. Luger values have not been especially strong recently compared with 2-5 years ago.
Most lugers I see are considerably altered or worn since their manufacture and it is that small percentage that are in original and nice condition that get the high values. Lugers, by the way, are not a subject for inexperienced collectors—they are very challenging to value.