Model 586 .38 4-1/4 Value

JimboS · #1 07-12-2018, 04:25 PM

I own a S&W .38 586 with a 4-1/4” barrel that I purchased new many years ago. I have had the gun lettered. Recently, I have had someone interested in purchasing it. I am not a S&W guy and have some reservations about it’s value. I’m Not sure if this is the place to ask such a question but would like to have some reference before entering into a negotiation. I would deeply appreciate an opinion if someone had the time. I did reach out to this blog a little less than 2 years ago when researching the gun and was given very good information.

Model 586
Caliber .38
Barrel 4 1/4
Serial No. BPY7876
Product Code 103498
Spec. Ord. 3300
Features BRAZIL

Coaltminer · #2 07-12-2018, 04:56 PM

Brazilian export overrun I suspect. Whatever, I'd pay extra for it, would love to have it. Lucky to have it. 38 is my thing!

njl · #3 07-12-2018, 05:13 PM

Pics would help. Condition makes a huge difference. To a collector, having the original box and accessories adds $.

JimboS · #4 07-12-2018, 05:37 PM

Here are some pics. Do have the box but no accessories.

daddio202 · #5 07-12-2018, 05:53 PM

I would not sell if I were you. You can always go out and make more money but they do not make those guns anymore and were fairly rare in this country back when they did. Just saying! I see way too many people on gun forums making statements that they wish they never sold such and such gun in the past.

Bajadoc · #6 07-12-2018, 07:06 PM

That is a beautiful uncommon revolver that many Smith and Wesson people would love to have. If you sell it, take your time and carefully consider its value and the chance you may miss it later. I also would pay "extra" for it but I am a Smith addict and can't have "just one more."

22hipower · #7 07-12-2018, 08:33 PM

I suppose there are collectors who would pay a premium to get it. Where I shop most folks wouldn't recognize it as anything special and I'd expect to see it priced in the $600-$800 range. And that's about what I'd be willing to pay for one. The S&W Standard Catalog 4th edition doesn't note a premium for them and lists NIB value as $725 for a 586. As I say, the scarcity factor may make it worth more to those who collect the unusual later models. Nice gun, whatever the value.

Jeff
SWCA #1457

Candrews86 · #8 07-12-2018, 08:37 PM

Worth about $13-1400 right now with a tough market, $1800 in a strong market. These were Brazilian exports and only around 23 were thought to have stayed in the states. They are rare, but not highly sought after for some reason. I wouldn’t sell it under $1200 if i were you

MJFlores · #9 07-12-2018, 08:39 PM

Dont sell it, just to sell it. I've never heard of a 586 that wasn't a .357 magnum. It's irreplaceable so consider that. It would be a shame if the buyer were only interested because it's "an old .38".

oysterer · #10 07-12-2018, 09:20 PM

very nice, I would totally love to own that gun, very sweet grain grips too. If you post of up here for $650 it will sell probably in 2 minutes, for $800 it may sell in a couple of days but may not, for $900 I would be out, anything above that would be outside my wheelhouse and I am not educated enough on the particular model.

Peak53 · #11 07-12-2018, 09:37 PM

I'd give that a status of "rare model that hasn't been discovered, yet." Know when to hold 'em. Know when to fold 'em. Hold.

gumpys · #12 07-13-2018, 06:00 AM

In strong market 1200 gun . probably bring 850-900 now days. Problem is not a lot of demand for them even though they are hard to come by especially being 38 only.

Eric

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JimboS · #13 07-13-2018, 08:14 AM

Wow! Thanks for the feedback. I’m the guy who usually buys something for $100, finds out that it’s really worth $50, and then has to pay $200 to have it hauled off. I Purchased this gun back in the mid 90’s at a shop in Athens, GA. I traded in a Rossi .357, first gun I every owned, that was so heavy that it pulled my pants off when I wore it. I can’t remember, but probably don’t have more than $250 in it. I’m at a place in life now where I don’t have to sell it and would not consider if others didn’t ask. I have only told folks at my local gun store about it. One guy there knows what it is and has shown interest. The problem for me is that neither I nor my kids have a lot of interest in it. I’ve only fired it a handful of times. Thanks for all the responses. It makes me think twice about letting it go.

CLASSIC12 · #14 07-13-2018, 09:06 AM

Wow that’s something else, I’d buy it too. Or I’d keep it if I were you, such a rare piece.

Is the cylinder shorter, or just the chambers cur shorter ?

HOUSTON RICK · #15 07-13-2018, 09:28 AM

As you have seen, you could sell that here pretty easily. It is almost a cash equivalent like a savings bond, only it goes up in value faster and does not have to be sold to be useful. I would keep it, but I like 586's. Good luck whatever you choose, by the way, I will gladly haul it off and not even charge you $200.

ken158 · #16 07-13-2018, 09:41 AM

A rare gun for sure but the rareness is in the chambering which can’t be seen by common observation... hard to show it off when it looks like all other 586’s. Having the box is a very big deal and will increase the value more then you can imagine. An advanced collector will have more interest then others. I’m thinking 1K top value and it will take a special buyer to get that.

Pizza Bob · #17 07-13-2018, 09:42 AM

OP: This is my opinion only - take it for what you paid for it.

These guns may be of interest to a collector, but for them to pay a premium the gun would have to be complete with box numbered to the gun and all accessories. You have the hard part, you just need the accessories. Even with, I don't think the interest is there yet to see some of the prices listed above. My guess would be + or - $1K.

If it does not meet the above criteria, it falls into the category of "shooter" - and people that want a 586 shooter want the capability of firing both .357 Mag and .38 Spl so may actually expect this for less than they'd pay for a normal shooter grade 586/686.

I bought mine about 5 years ago sans box/docs/access and gave $500 for it. It is a perfect IDPA gun and that is the role that it fulfills for me.

Given the BPY serial number prefix, yours would be a 586-5 and part of the first Brazil export shipment from 1993. There was a second series and these were 586-4 models with CCE prefixes shipped in 1997 - figure that one out.

Beautiful gun, I'd hold on to it if I were you - it certainly isn't going to go down in value - whatever that may be.

Adios,

Pizza Bob

JimboS · #18 07-13-2018, 10:07 AM

Just curious. Is it possible to find and purchase the accessories? I assume this would be the cleaning kit and S&W Revolver booklet? If so where would one find such a thing?

oysterer · #19 07-13-2018, 10:07 AM

Bob knows his Smiths...

Tom_R · #20 07-13-2018, 04:46 PM

Quote:

Originally Posted by JimboS

Just curious. Is it possible to find and purchase the accessories? I assume this would be the cleaning kit and S&W Revolver booklet? If so where would one find such a thing?

I got papers for a 629 on GunBroker a few years back.

daddio202 · #21 07-13-2018, 05:43 PM

Ebay would be a good spot to do an occassional search for the accessories and paperwork. You might have to wait awhile to find them and pay a handsome price but it would complete your package. Lot of older boxes and various small stuff li like that on Ebay.

gumpys · #22 07-13-2018, 06:42 PM

Also forgot to add definitely think the one of only 23 remaing in US is not correct number. I have seen too many over the years to be 1 of only 23. Hopefully some one can clear it up with letter but I am willing to bet at least few hundred or more were available in US.

Eric

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