Here at the IWA show in Nurnberg, Germany, art is on display. This event is a firearms, shooting and hunting trade show, the European version of the SHOT Show, and it serves as a sharp reminder of the differences in the shooting sports between the Old and New Worlds.

Art is the primary difference or, ironically, a metaphor for the contrasting styles of the European and American gun markets. Here in Europe, gun ownership is a privilege, not a right. Hunting is a sport of, if not royalty, then at least the well-to-do.

The best selling hunting rifle in Germany, and all of Europe for that matter, is not Remington, Winchester, Weatherby or Ruger. It is Blaser.

Blaser is a niche brand in America, an odd-ball “bolt action” that’s really not a bolt-action at all in the conventional sense. Most Americans think of Blaser as that weird rifle, Euro-techy, with a straight-pull bolt, ambidextrous bolt-knob and switch-caliber barrels. A basic model starts at $3,500.

If Blaser has a 1 percent share of the American hunting rifle market, I’d be surprised. If they have less than 60 percent over here, I’d be equally open-mouthed.

Blaser comes into its own here at the IWA show. Their booth is ostentatious. It’s part of a gigantic Sauer booth where, one American exhibitor observed, “You can land a helicopter.” Elaborately engraved and gold inlaid models are on display with Turkish walnut stocks that give new meaning to the phrase “exhibition grade walnut.”

Krieghoff is not far behind. The German shotgun and riflemaker is displaying an over-under shotgun with sumptuous engraving in a “horse theme,” as they describe it. Art being art, I can’t really describe it other than it’s a modernistic design with Bolino style engraving of wild horses with flowing manes. Frankly, it’s a little feminine in my opinion, but I’m sure a Marquis or a Count will buy it.

The best guns are in Hall 3 where the gunmakers from the town of Ferlach, Austria display their wares. Ferlach is a throw-back to the Middle Ages, a town in which the guild system is still alive in the custom gun trade with traditional handcraftsmanship passed from master to apprentice.

The godfather of Ferlach is Peter Hofer. On a previous visit to IWA, I chanced by the Hofer booth and saw a transaction taking place. Peter was discussing a purchase with a customer I recognized. It was Ugo Beretta. I went to the Hofer booth earlier today and, while I didn’t see Mr. Beretta or any other magnates, I did see the world’s largest double rifle next to the world’s smallest—a 4 bore beside a .17 HMR.

Two of the rifles I was told not to photograph. One of them, a double rifle, had see-through side-plates with jewels inside the action. Another was stunningly engraved in the Bulino style that has made Hofer’s gun famous worldwide. Hofer guns start in the six-figures and go into the seven.

One gun that caught my eye on this tour of Hall 3 was the “Africa Tribute” by Karl Hauptmann, another Ferlach gunmaker. The gun was a .470 Nitro Express with chiseled deep-relief engraving of the Big Five. The safety was a carved crocodile and the action lever was a hippo’s head. I asked the price: 450,000 Euro (over $600,000).

So is the high-end of the gun market holding its own while the rest of the economy is sagging? No it’s not, according to Allan Utermark from the storied firm of Holland & Holland. “We’re keeping our head above water, but that’s about it,” he told me. Allan also allowed that a new Holland & Holland starts at 85,000 pounds. (That’s over $120,000, but the dollar is gaining on the pound, so hang in there.)

Needless to say, I didn’t buy anything at IWA today. And I won’t tomorrow either, at least not in Hall 3. I’ll look around for bargains tomorrow, so check back on my blog and see what I find.

View Industry Insider's IWA Photo Gallery of Guns.