Historic Colt pistol sells for $920,000 in Maine

Previous owner from Montana says revolver passed down through family

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updated 1:27 p.m. ET Oct. 9, 2008

FAIRFIELD, Maine - The sale price of a historic Colt Walker pistol has broken a record for all guns made by the company, an auctioneer in Maine said.

An anonymous bidder paid $920,000 on Tuesday for the .44-caliber revolver, said officials from the James D. Julia auction house. It was made for U.S. marshals in the 1840s and its previous owner said he never fired it.

The price included a buyer's fee of $120,000 charged by the auctioneer.

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Julia was also the auctioneer for the previous Colt record of $480,000.

The gun was an heirloom passed down from John McBride's great-great-uncle. The 80-year-old from Montana said some of the money will be used to buy land in that state.