A few very short years ago model 28's were considered pedestrian, work horses for daily holster carry and sold for 50% less most of the time than their highfalutin sisters, the 27's.
Then came the internet, the lock, MIM parts, and a sea change in the attitude about values on guns that are not produced any more and likely never will be again.
I think the price stated to the OP is high, even for Kalifornistan and places like that in the netherworld of regulatory paradises; but those who still buy decent serviceable N frames of any kind for less than $500 are either living in a time warp area of the country where folks just don't get out much or sleep on beds of four leaf clovers and ride their unicorns to work.
Yeah, we all groan at and envy the occasional poster who comes here to brag about the pre 29 he snagged for $300 bucks from his buddy at work, but those are well and truly the aberrations these days and certainly not indicative of the the skewed but current true market value of the old (pre-lock) N
frames. And to those who seem to think this is a 'bubble' and are waiting for those prices to come back down to "reasonable" levels . . . good luck with that . . . .