Well, it is worth more than a new run of the mill, new AR15.
#1: It is pre-ban. Right now that still means something. Hopefully the AWB will sunset and pre-ban status won't mean a whole lot. Pre-bans sell for more than a new post-ban on average. Prior to this year, they sold for significantly more than a new post ban gun. As was mentioned, the prices on pre-ban guns are falling due to the anticipation of the ban sunsetting. However, until it sunsets, pre-bans will still be worth more: how much more depends on what it is worth to you.
#2: It is a Colt, which usually cost more than the others.
#3: The Colt SP1 was the original civilian AR15 and thus has some status.
I owned a Colt SP1 in the early eighties and later sold it. A few years ago, I got into AR15s in a big way. I came across an SP1 and decided to buy it for nostalgia. It is still a fine rifle. Later on I found a new Colt upper in the configuration of an M16A1 and I bought that and put it on my SP1 lower because I wanted a clone of the rifle I was issued in the military in the early 80s. So, it had more value to me than a new AR15 and others feel the same way.
