Lemme guess--you saw it on the Bowers NFA board?
The guy selling (if I remember right is Bryan Pritchard?) has an excellent reputation.
Colt 614's are NORMALLY marked AR-15 Model 614. They were the civilian/export version of the Airforce Contract 615 (I think). Basically, you are looking at an SP-1 that is FACTORY select fire. Looks like an M-16 A1, but normally without the M-16 marking. The M-16 marking should make it more valuable.
Basically, M-16's fall into several "price" ranges:
Converted semi-auto's (generally, the ones that started with Colt semi- guns are a little more expensive). A licensed manufacturer took a semi-auto and drilled the holes needed to install the full auto parts and registered it as a MG. Lately, they go for $4500-5000ish.
Colt 614's--as described above, a little more expensive $5000 to $5500. A real factory full auto.
Colt M-16's--$5500-6000
Colt M-16 A1's--figure on $500 more
Colt M-16 A2's--about $1000 to 1500 more (these were the last for civilian sale, and fewer were made).
Collectable guns--the Armalite marked 601's are C & R guns and run $9000+. A few other collectables in that price range.
The $5600 price is pretty good. I just saw a converted EA on sale on the Bowers board for $6000, but for that price, it came with a MAC 10, MAC 11 and 2 supressors!!! (the guy selling needs cash NOW).
If you cannot afford the $5600, and you can keep cash in hand, you can occasionally find a converted gun for the $4500. Almost any gun is good (kind of hard to mess up drilling two holes, and for that kind of money, a good gunsmith can fix any mistakes.
AFARR
PS--have you considered the FNC?
$2000 for the gun, $1600 for the sear $300 for the 3 rd. burst. Takes a while for the conversion, but an excellent gun. Or an UZI $3000?
Try here:
[url]http://www.sturmgewehr.com/webBBS/nfa4sale.cgi?read=11869[/url]