The new gun maintained the classic appearance of the Python but came with some major upgrades. The enhanced action was built with fewer components, making it easier and less expensive to produce.

The Illinois-based auction company has previously sold Elvis firearms for high prices. It sold the king's Coly Python revolver for $172,500 and his Smith & Wesson Model 19-2 for $195,500 in 2017.

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Could Colt’s Python Be World’s Best Revolver? Key point: The Colt Python was retired by Colt in 2005. The real reason why Colt gave up on such a desirable money maker is unknown, but the high ...

If the Python is the Cadillac of American revolvers, the S&W 586 & 686 revolvers are the Jeeps. For many years both were the most popular duty guns found in the holsters of American cops.

It sold the king's Coly Python revolver for $172,500 and his Smith & Wesson Model 19-2 for $195,500 in 2017. Read more from FOX Business Entertainment Money News ...