So I am at a well established gun dealer's shop in Portland, OR today and he shows me a Model 29-2, 4 inch barrel,non fired in its original box. So it's as 'as new' as they come.
I have been looking for this exact combo as of late but the price has me , well, thrown off a little.

The asking price is $1500.00, he won't budge.

Does this seem high, and , if so where would one expect the price to be at?

I would say half that and maybe to 10 percent more. In that range.$1500 seems a bit proud.

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T. Johnson

New Old Stock (NOS) is hard to come by. I imagine, for a collector, this would be the pinnacle. However, can the dealer provide any provenance that the gun is actually unfired? I don't have a lot of experience with S&W revolvers, but I've seen other guns cleaned so well I'm not sure even an expert could tell. Does the cylinder exhibit any "ringing"? Is the vintage such that it may not have been test fired at the factory? Did S&W ever NOT test fire new guns?

What's the price difference between a used 29-2 in 100% condition and $1500. And, If in fact, the gun is unfired, the gun would have to become a safe queen to preserve the premium you paid for it. Counterfeiting in the gun world is not a new thing. You can put some trust in a reputable dealer, but not total trust. They can be duped too. Did the dealer buy the gun from a distributor? Can he prove it? Or did some person needing fast cash come in with it to sell. In that case, did the dealer just take their word for it? Or it may well be a good condition model that was restored to "as new". Then foisted off as brand new. Who knows? If a large premium is being paid, I'd want proof.

I watch a lot of the car shows and Antiques Roadshow and Pawn Stars. Folks make outrageous claims about some items authenticity expecting other folks just to take them at their word. Ya gotta have provenance or it's worth no more than the same item in the same condition without any special qualifications.

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NRA Benefactor

He's sooooo proud he thinks he's running a Cabela's store!!

He can keep it......

I work at a LGS here where I live, and we've had some of the used, nearly new Smith 629s in six inch come through...the highest we've ever had one of these like new without the internal lock is about $725.

I'd say half that price he gave you, maximum.

I will say that 4" M29-2's are bringing a premium now, but, nah, that is too steep! I would keep looking.

Is it new in the presentation case,or the blue,2-piece box? If it is really new in the presentation case,$900,or a little more,would not be out of line. I've seen a few sell for 1K,but $1500 is crazy money. If you are a gazillionaire though,it's a pittance. Buy it!
f.t.

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South Carolina-God's country

nah...too much...aside from that if you find one thats had 100 rounds thru it and well cared for....whats the differance?

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SWCA#2208
KK4EMO

I'm with the others - too high ! Pass it.

Larry

I had 2-3 of them in the high 90's with presentation case, tools etc that I sold for $750 ea. That was a couple of years ago. I would agree with Fat Tom that the $900 range to possibly $950 would be in the ball park. $1500 is way too high. If you are going to shoot it, look for one in high condition and remember that everything is shot from the factory!

Tom

Thanks everyone, for all the great input as it does give me a good perspective to go by.
I do shoot what I own and this gun would be no different so I will definately keep looking for something used but in good shape.

On a side not this fellow went off on quite a tangent about how ''anything S&W makes now is junk'' and that they ''haven't made anything worth anything in the last 20 years''. He furthered this line of thought by predicting that this same gun, the model 29, would be ''selling for $3000.00 in 10 years'' and that anything sold today would be worthless.
At this point I didn't bother mentioning to him that I have a 3inch 629 in route and that my wife's model 60 .357, purchased last year, has been a real joy to shoot and has operated flawlessly since we purchased it.
At this point I cut the visit short and, when time permitted, checked in here.

There is a high end to the pricing of guns that varies by location but this one is over the top by at least 5 to 6 hundred.

Maybe make him a reasonable offer then wait him out. That gun isn't going anywhere unless he's selling to inmates at the crazy farm.

.......Lol!

Dealers like that who come up with ripp-off prices, then wont budge on a fair offer often find themselves out of work.

Gun shop hyperbole.

What is being made now is certainly not junk, but it may not compare well with what was made in the '70s. Of course, there were people back in the '70s who would say that current production is junk when compared to what was made in the '50s. You could keep going and going with this till you get back to the Triple Lock.

You should have told him "in 10 years this M29-2 might be worth $1,500."

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You're shy a few manners.

Lol, that would have been great!
Now why can I never come up with something like that on the fly?

"$3000 in ten years". Why is he selling then,he should keep it for himself....Duh,he already made the decision that he's keeping it with the current price.I agree with the others-750-800,maybe 950 if cased.

Your dealer has tagged a 50% premium on his gun price hopping a collector with deep pockets and looking for a LNIB / possibly NIB 29-2 won't mind shelling out an extra $500/$600 over the normal price. Since you are planning on shooting the gun anyways, there is no good reason for you to spend (waste?) that kind of money as you should be able to find a nice one for about half of his asking price.

Now if you were in the market for a LNIB specimen and planned to keep it as a safe queen I would say the decision to buy or not should be made depending upon your income level. A person able to earn the $500 premium in a few work hours will be better off paying the premium than spending days tracking a cheaper gun in the same condition while someone earning $500 a week should definitely spend some time looking for a cheaper alternative. How much is your time worth is what it always comes down to.