I think you can get Pre-23s in OK condition in the $600-800 range if you keep your eyes open and are patient. $1200 for a 90% gun sounds excessive to me. I'd need to see pics, because one man's 90% is somebody else's 80% or maybe 95%.

What I picture in my mind's eye based on your description is not a $1200 gun.

I recently saw an auction house listing for a Pre-23 that anticipated a sale in the $600 range for a gun that looked used but cared for. If someone gets it for that it would be a good price. Can't remember which auction, though. Sorry. The auction may already have occurred.

EDITED TO ADD: The points below are well taken. I just assumed that we were talking about a short-action Pre-23 like the ones discussed above. If in fact we are talking about a transitional model, that is worth extra money.

Can you post the serial number? Or most of it?

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David Wilson