The Orvis CFO III Limited Edition Fly Reel in Black with a serial number is a sought-after model among fly fishing enthusiasts, especially collectors. Here’s what you should know if you’re considering buying or selling a used one:

Key Features:
– Model: CFO III (CFO3) Limited Edition (likely a reissue or special run by Orvis).
– Color: Black (classic CFO reels were often silver, so black is rarer).
– Serial Number: Indicates authenticity and may help date the reel.
– Construction: Typically features a machined aluminum body, click-and-pawl drag, and a timeless design.
– Size: The CFO III is ideal for 3-5 weight fly rods, making it great for trout and small-stream fishing.

What to Check When Buying Used:
1. Condition: Look for scratches, dings, or corrosion. Minor wear is normal, but excessive damage affects value.
2. Functionality: Test the drag (should have a smooth, audible click). Ensure the spool spins freely.
3. Authenticity: Verify the serial number with Orvis if possible (some limited editions may have certificates).
4. Originality: Check if it comes with the original box, pouch, or paperwork (adds value).

Estimated Value (Used):
– Without Box/Papers: $200–$350, depending on condition.
– Mint with Box/Certificate: $400–$600+ (limited editions can command higher prices).
– Rarity Factor: Black CFO III reels are less common than silver, potentially increasing value.

Why It’s Special:
The CFO (C. F. Orvis) series has a cult following due to its classic design and association with Hardy Bros. reels (early models were made by Hardy for Orvis). Limited editions appeal to collectors.

Where to Sell/Buy:
– eBay (check sold listings for recent prices).
– Fly fishing forums (like Fiberglass Flyrodders or The Classic Fly Rod Forum).

Orvis CFO3 Limited Edition Fly Reel Black with Serial Number - Used

– Specialty tackle shops (for consignment).

If you have the serial number or photos, I can help further assess its rarity or market value!