Welcome to the forum.
S&W made nearly half a million revolvers that chambered the .32 Long cartridge, but only a few were K-32 Masterpieces. A near-new K-32 Masterpiece could be a $2500-3000 gun, or even a little more. Is it just the gun by itself, or does it have the original box and accessories as well?
Please let us know the serial number, and include the K prefix that you see on the butt of the revolver. Based on the number, we might be able to tell you a little more, like the approximate ship date. Replace the last two digits with xx if you would like to preserve some confidentiality. When you swing the cylinder out, do you see a stamp MOD 16 on the frame? Also, please post photos if you can.
S&W sold as many K-22 and K-38 Masterpieces as they could make after WWII, but the K-32 Masterpiece was just not as popular. (Masterpiece was their designation for target-grade revolvers built on their mid-size frame.) Only 3600 or so K-32 Masterpieces were produced, and they are now in demand as rarely seen collectibles.
Do NOT sell that gun unless you desperately need the money. There may be minor fluctuations in price from year to year, but the long term value trend is up.
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David Wilson
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