Yes, $400 is a fair price. You're the one judging condition and paying the money. But as a reference, almost all prewar M&Ps in nice condition are selling for more than that. It seems that over the last year the prices have just kept edging upward, and the supply of guns seems to be drying up. Remember, $400 only buys you 100 gallons of gasoline these days. Back when they were $150 guns, gasoline wasn't that expensive, either. Or anything else.

I would advise you to look again at the gun, very closely. If it shows no signs of refinishing, its worth that price. My best guess is the inflation of gun prices won't be stopping anytime soon. We're going to be looking back at the good old days, when you could pick up a nice keeper grade gun for only $400 or so.

__________________
Dick Burg