Some Old Lures Worth a Lot of Money

A year or two ago, my tourney partner, Rob, told me about a local estate sale of fishing tackle that had belonged to one of the area's noted anglers. I initially didn't think much about the event until it dawned on me there was no way of predicting exactly what you might find among the gentleman's collection. I decided to go have a look, with the distinct idea in the back of my head of keeping a close eye out for anything even remotely resembling a possible antique.

As luck would have it, I found nothing that appeared to fall in that category but did make one small purchase before leaving. I feel pretty certain that, generally speaking, the folks who are successful at finding anything of value at estate or garage sales are those who routinely attend these events. And I wouldn't doubt if they, too, don't frequently walk away with their hands and/or arms full, wondering to themselves, or perhaps out loud, "Is this stuff really worth anything?"

Given that background and the fact I, like probably a lot of others, am bored out of my mind as a result of having to stay indoors because of the weather, decided to do a little Internet research into what valuable old fishing lures some lucky people have come across over the years. Little did I know the kind of money we could be talking about when it comes to such relics.

Take, for instance, this 1853 Giant Haskell Minnow. In some circles, it's arguably the rarest antique lure of all time. There's only one known to exist, and in 2003, it sold at auction in Waterville, NY, for $101,200. The auction company referred to it as the "holy grail of fishing lures."

So what makes this 6-inch copper lure with two upward hooks on its revolving tail (making it the first animated lure to be sold in America) so valuable? Because it's the only lure of its size and type in existence. Gun-maker Riley Haskell patented the design (the first actually resembling a fish) in 1859. He also made some 4.5-inch versions of the lure, which have an auction value of $10,000 to $15,000.

Another rare find for collectors of antique fishing lures is this Chautauqua Minnow, which was advertised as America's first weedless lure. Only a handful ever were made. Produced by Krantz & Smith of Jamestown, NY, in 1908, it was pretty but wasn't well-received when first introduced. Why? Because the lure proved to be ineffective and generally had a reputation as having a low success rate for catching fish--a bad omen for any lure.

Low demand accounted for the limited production, which, in turn, made them especially rare to collectors. Any owner should count himself/herself lucky to have one of these lures because you just might be able to pay a chunk of your kid's college education if you should decide to sell it. According to some reports, a Chautauqua Minnow has sold for more than $37,000 at auction, even though its estimated value is only around $12,000.

Sharing the spotlight for rare and most sought-after antique fishing lures is the Heddon Frog Lure. In 1897, honey-maker James Heddon started hand-carving wooden frog lures to give to honey distributors as a way to persuade them to buy his honey.

Heddon went on to found the first artificial-lure company in 1902. His company made several other wooden lures, but none are more treasured than his first wooden frog. This crude bait is equipped with a hook on every leg and a large treble hook on its underside.

There are only eight Heddon Frog Lures known to be in existence today. Each one typically sells for $30,000 at auction.

Also invented by beekeeper and newspaperman James Heddon was the Dowagiac Expert. This turn-of-the-century lure was named after Dowagiac, MI, where Heddon worked. It originally was sold as the Dowagiac Casting Bait, but, in time, Heddon shortened the name of this blue-and-white lure to the Dowagiac Expert.

Very few copies of this lure remain today, and even fewer are in good condition. Demand still is so high, though, that the white cardboard box it came in can sell for as much as $1,000 by itself. The lure reportedly last was sold at auction for $17,600.

Then there's the Comstock Flying Hellgramite, which some collectors consider to be the first wooden lure ever made. It imitates a larvae-stage donsonfly, also called hellgrammites. Besides the wooden body, this lure has beady, red, glass eyes and copper parts.

Harry Comstock claimed to have designed the first Flying Hellgramite, and when rival lure-maker Pflueger released another version, he took them to court and won. However, Pflueger went ahead and also released their version.

Comstock's model is worth about $12,000, while Pflueger's knockoff model, also called the Flying Hellgramite, brings about $10,000.

This rare version of the Shakespeare Muskellunge Minnow is believed to be the first of its kind. Designed and produced in Michigan, it's part of the legacy left behind by lure-maker William Shakespeare, Jr.

The son of a banker, Shakespeare revolutionized the industry with introduction of his aptly named "Revolution" lure in the late 1890s. It had three treble hooks and a propeller and was one of the earliest wooden baits sold in America.

The Muskellunge Minnow represents a refinement of that original lure. To the surprise of auctioneers, it far surpassed the estimated price of $5,500 and has sold for $23,100.

This Heddon Night Radiant is the second rarest lure in the Heddon lineup. Designed for topwater use, it was released in 1912 but never made it into the pages of the company's cataglogs.

There are two models of the Heddon Night Radiaint: a 5-inch lure with four treble hooks and a 4-inch version with three treble hooks. Some were white with a painted black stripe down the back, while others were plain ivory color.

The Heddon Night Radiant reportedly is worth approximately $10,000.

Here is what some have described as the "single most historic and important wooden minnow ever to come to auction." It's believed to be the predecessor of all American wooden, underwater lures.

This mysterious lure first was found in an Ohio angler's tacklebox, along with a variety of other antique tackle. Although historians thus far haven't been able to trace the manufacturer of this rare and possibly one-of-a-kind lure, it's often compared to the early Trory minnows, which were nearly identical in appearance.

This lure has been described as "in very good condition," even though it dates all the way back to the late 1890s. What's it worth? A cool $42,560.

If, after reading about these old lures, you find you've suddenly developed an appetite for more of the same, here's the link to a 2008 Bassmaster article: http://www.bassmaster.com/news/35-most-valuable-antique-lures. Titled "The Thirty-Five Most Valuable Antique Lures," the article is authored by Tyler Wade, the social media and B.A.S.S. Nation editor for B.A.S.S. There are some duplicates from this article in that group, but you'll also find several different ones.

In the final analysis, the odds are pretty good that, at some point in your life, you may have picked up one of your dad's or granddad's old lures and wondered whether it, too, might be worth more than the car or boat you're driving. Thanks to that tool we know as the Internet, it nowadays can be easier than you might think at first to trace the manufacturers and designers of such old lures.

If you're really lucky, you might even stumble across some dude on eBay who unwittingly is selling one of these gems of bygone days for only slightly more than the price of breakfast at a fast-food restaurant. One author described such a valuable find as "just one step below beating George Perry's 1932 largemouth bass record... ."