As this thread indicates, there is quite a bit of liberty taken when "custom" is used to describe, not only firearms, but numerous other items(cars, motorcycles, kitchen cabinets, etc, etc.) as well. My own personal interpretation assigns the concept of "bespoke" as has been eluded to by some in this thread. I personally consider an item custom when it's "built" to the specifications of an "individual"....Not a market, company, or particular group. If it is sold by that individual, it is no longer custom/bespoke. While it's characteristics may be quite compatible or desirable with a new buyer, it was not originally specified by that buyer and, at least to my mind, no longer custom or bespoke....But it may very well have some exquisite features or components affecting its value. Semi-custom to me is akin to semi-pregnant. While I realize that many may disagree with this narrow interpretation, it has served me quite well in my assessing, observing, buying and selling firearms, and I have never felt any frustration concerning the matter. IMO.
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