Its been my experience that the S&W made PPK/s is the least desirable of all the models due to the recall and other issues. Walther purist absolutely hate 'em. However, IMHO once the recall issue is settled, they are very good guns.
BTW: you need to check to see if that gun has had the recall done or needs it. If it does, send it to Walther Arms in Ft. Smith, ARK, NOT S&W.
Walther recalls
I have a stainless S&W made PPK/s-1 in the very scarce .32acp caliber that I bought three years ago for $475. I'd estimate that this gun being blue would sell in the $500-550 range today.