Guns of most kinds are like houses; buy a new one and it will lose value initially, but will hold it in real terms (if not damaged too much) after that. So, as an investment, it's best to buy s/h.

As with houses in good locations, some guns and rifles might give better returns than others. And while the London makers lift their prices with seeming impunity, their previously sold pieces will go along for the ride. So, joining the club may be costly but after that you can congratulate yourself whenever H&H put up their prices by 10 per cent.

Currency fluctuations should affect these things though and, since the pound has been down recently, it could be a good time to buy - if you can find a seller who will concede this point, that is.

- Paul