The Walther P38 replaced the iconic Luger as the standard German service pistol during WWII, prized for its double-action system and widespread battlefield use.
Curious about how much your P38 handgun is worth? Whether you’re looking to sell or simply understand current pricing, we’ll help you assess the market value of your firearm.
The P38 was produced by Walther, Mauser, and Spreewerke. Collectors focus on originality, correct finish, all-matching parts, and whether pistols include period holsters or spare magazines ('rigs'). Walther-marked examples are most desirable, followed by Mauser, with Spreewerke bringing the least.
Origin
Germany
Manufacturer(s)
Walther, Mauser, Spreewerke
Caliber
9mm Parabellum
Action
Double-action, recoil-operated
Service Years
1938–1945
Notable Features
Matching serial numbers, original finish, manufacturer codes (ac, byf, cyq), import marks, presence of rig (holster + mags)
P38 handguns are highly sought after by WWII collectors and enthusiasts. Values are highly influenced by originality, condition, variant type and any unique historical markings. Most examples on the market range from $500 to $1,500 depending on manufacturer and provenance.
Walther
Estimated Value: $500 – $1,500
Mauser
Estimated Value: $500 – $1,500
Spreewerke
Estimated Value: $500 – $1,500
Originality:
P38s with original parts, and factory markings typically command higher prices due to their authenticity and appeal to collectors.
Condition:
Clean, well-maintained P38 firearms in excellent mechanical and cosmetic condition will sell for significantly more than worn or modified examples.
Historical Markings / Provenance:
If there are markings or provenance that link your P38 to a specific military unit, wartime service, or historical event - collector interest and market value can greatly increase.
Restoration:
Whether your P38 has been refinished, restored or modified will significantly affect pricing. Original finishes are typically more desirable.
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