Stopped in my LGS yesterday on the way home from work, and found that they have a .38 M&P Model of 1905, second change that I want. It has a 6" barrel, and quite a bit of finish wear, however she does have the original numbered grips, and the action feels pretty good. Asking price is $775

I am not opposed to buying less than pristine guns, in fact to me the wear helps tell its story, so the finish condition is not a problem to me. Looking at the SCSW 4th edition, a model of 1905 second change in this condition would be worth anywhere between $250-$500 (fair to good condition) unless I am not grading the gun properly.

What say you all? Is my valuation too low, and/or has pricing fluctuated on these since the SCSW 4th edition was released? Has there been and increase in demand for the older .38 M&Ps lately? I want the gun, but certainly don't want to pay too much for it. Thanks!


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It's hard to give you a precise valuation without seeing the gun. But I'll tell you even if it were 99% it probably isn't worth $775. More likely it would probably sell in my area for less than $350.

Guy

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Guy
SWHF #474 SWCA LM#2629

I typically lean toward 6" blue wheel guns and have more than a few. Unless the gun comes with the box and tools I think that the asking price is too high. Sometimes folks assign a package price to the gun alone. If that gun was pristine with its box, papers and tools then I might be willing to stretch to the $600 or $700 range. In the condition that you describe and for just the gun I think $400 is more in line. Again this is based on not seeing the gun and going by your description. Price might go up or down a little with a hands on inspection. I was also taught to always check the timing on any of the S&W's that I bought.

So to sum it up, the other way of looking at it is; missing box (-$100), missing tools and papers (-$75) less that stellar condition (-$150-$200). $775 -$375 = $400

At least that's the way I do it.

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James Redfield
LM #497

Way high............ with 'quite a bit of finish wear"...doesn't sound "collectible".....6 inch barrel....... it would be a real slow mover in W. PA. market.........at $400...... would draw smirks at $775.

It all depends on what "quite a bit of finish wear" means to you? What would be helpful is a picture, a finish percentage estimate, and whether refinished? Frankly, I see these old 38 Model 1905s going for under $300 regularly. Remember that the factory made a quarter-million of these guns by 1915, so you can find many for sale online on any given day. I find that LGSs and gun shows price them way high, but $775 for a worn M&P is bordering on insanity . . . or maybe simple greed.

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Gary
SWCA 2515

Keep in mind also that M&P's are the most common of all S&W's. Common as in - they've been in continuous production since 1899. That generally means that only the ones in either the highest condition range or with the rarest features will command the highest prices.

That said, $775 doesn't sound like what I consider a "fair" price for the one you're describing.

Mark

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S&W Forum Member #721

Fair to whom?
Should be about half that.

No! Too much. My 2 cents.

Thanks to all, that is exactly what I thought. I may go make an offer on it, though I'm going to guess the store owner is not going to accept it. His prices tend to be a bit high, but perhaps armed with knowledge shown here I can persuade him to sell at a price that is fair to both of us.


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These are the valuations given in the Standard Catalog of S&W, 4th Edition.

As New Exc VG Good Fair
1500 ...700 500 400 250

(Page 162).

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Guy
SWHF #474 SWCA LM#2629

First some think they found gold price wise. It's good you asked here. It's condition, how bad you want it, is it rare to see one for sale. Is it too over priced? It's really your call the info above is pretty much correct.

Run forest run.

Your handle points to a connection with Maine. Do you live there?

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James Redfield
LM #497