The model 32 was a .38 S & W, so the seller probably thought the bore diameter was the model number? Who knows.

It is most likely a mid-1950s decade (pre-1958) .32 HE if a round butt frame (pre-model 30), or a Regulation Police with a square butt (pre-31). Both would have had a 4" barrel, some earlier ones had 4 1/4" barrels.

Probably not a $500 gun without original stocks, etc.

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Alan
SWCA LM 2023, SWHF 220