May I say what most of us already know?

[Art Doc]

Many, perhaps most of the threads on the forum ask "What is this gun worth?"

I think most of us understand that there is no definitive answer to this question. There are simply too many variables such as the condition of the gun, the presence of accessories, etc. Geographical location can sharply impact gun values. A gun that sells for $500 in Tennessee may only bring $350 in New Mexico... or $1,200 in California. Your friend buys a gun for $400 and you see the exact same gun sell on Gunbroker for $900. Is it worth $400 or $900? What is any gun really worth?

The last Smith I bought was a 25-5 with a 4" pinned barrel. I paid $550 for it. I'd call it 95% but it had incorrect post-1982 stocks on it. I sold those for $65 and put on a correct set of targets that I bought years ago for $15. I figure this makes the actual purchase price right at $500. To me a 4" 25-5 in 95% condition is therefore worth $500. But I bet if I posted a message asking what this particular gun is worth I would get a variety of responses. I bet the estimates would range from $400 (or less) to $1,000 (or more). Who would be right? Nobody. The gun is worth $500 because that's what I paid for it.

Any item is worth exactly what someone will pay for it. I can say my guns are worth a million bucks each but that don't make it so. Each individual considering a gun purchase has to decide how much any particular gun is worth TO HIM. Nobody's opinion matters other than the actual buyer. A truthful answer to the question regarding value would be a fairly wide range, like "In most cases a nice 25-5 will bring $400-$700 with adjustments for condition, location, the time of day, who is shopping, etc., etc., etc." But naming a specific value is virtually impossible.

So, the requests for the value on guns are fairly useless exercises... especially if one is asking about a gun one has already purchased (which happens all the time). My suggestion is, if you just bought it, it's worth exactly what you paid for it and it doesn't matter who may or may not agree with you. It was YOUR decision to make. Asking "Did I get a good deal?" may make more sense. But again, does the buyer really care if others think it was a good deal? The buyer was obviously comfortable with the price, and that is all that counts.

That's my thinking, anyway.

 

[blackdeuce]

I agree. It seems that I can almost always find a post where somebody bought a gun for less than me, but if I'm happy with my deal, that's o.k.

Plus, the enjoyment that I get from collecting these guns is worth something. Beats the heck out of the money that I wasted on my Harleys (boy do I wish I could get that back).

I hope that my three boys value these guns when they end up in their hands.

 

[Pointblank2U]

When I buy a gun on GunBroker it's because I WANT it! The price is secondary.

 

[xsexcess]

been said many times before. You can never pay too much...only too soon.

 

[Coldshooter]

Watching this forum the model 28 is a prime example of what you stated. Maybe some of the requests are a bit of buyers remorse and looking for affirmation. I have paid a bit much for things I have really wanted and sometimes it is hard to admit I didn't for a better deal. I work with a guy who if you told him you got a registered magnum for $100 he would have a story about someone who paid him a hundred to take one. Fortunately we don't have to suffer with that on this forum.

 

[PH-2]

And the "Spotlight-on-the-obvious" Award goes to...

Mike

 

[Goony]

"What is this gun worth?"

There are, in general, really only a few answers to this question.

If you're contemplating a purchase, then there's what the "Blue Book" or another pricing guide says it ought to be worth (retail), or what forum members have seen them going for in shops and at shows - provided it's not refinished, modified, missing parts, et cetera. And, as has been pointed out, there are regional variances in the marketplace that can make a difference in that valuation.

If you've already put your money down, then either you paid under that amount and folks here can say, "good deal," or on the other hand we say, "well, that seems a little high."

It's that part of the equation where a gun's not original but the buyer may not have the expertise to recognize that where we here can perform a service, assuming the gun's not already been bought.

 

[nipster]

What the OP says is truthful, but honestly, does it do anyone any good to tell a prospective seller that his gun is worth $200-400 less than gunbroker "SOLD" prices like I have seen lately. There have been some incidents where people throw out numbers that I dont think you can buy that gun anywhere in America for that unless you somehow come across a really uneducated pawn shop or jilted ex-wife selling off her husbands guns just to spite him.

 

[bettis1]

The points are well taken. I would offer one caveat, however.

When I see a "What's it worth" post, the first thing that I do is look on the upper right corner. If I see a poster with only a very few posts and a new member, I am inclined to cut them some slack.

I think just how confused I might be if I were the one who had just inherited or been given some item that might or might not have some collector value. It could be a stamp or coin, for instance. I know nothing about the collecting of either but I know enough to know that some of them are extremely valuable and some are worth less than their face value. If I had a question about it I would seek out information from the people who I would imagine would know the most about its value and, in today's age, those people are found on internet forums. If I asked about that stamp or coin and I was rudely chastised or my lack of knowledge was ridiculed, I would, most likely, form a pretty negative impression of stamp and coin collectors.

If our gun collecting hobby is to flourish we must continue to bring in new blood and one of the best ways is to encourage and educate someone who asks our advice on one of their new acquisitions.

As we progress in our own knowledge about our speciality, one of the soundest things that we can do is to resist the inclination to judge others through the prism of our own knowledge base.

Bob

 

[4506517]

Price is so subjective. If you want it and CAN AFFORD it, then pay what YOU fell it is worth. Guns are one thing that opinions are all over the road about. If it doesn't mean the lights are gonna get turned off or the mortgage wont get paid or the truck wont get repossessed, then go for it.

If you come here and ask, inevitably someone will say you paid too much. I think the OP hit the nail on the head precisely.

 

[hsguy]

SP, excellent and interesting post. However, I do see some value in valuation queries being posted here. You are quite correct in that there are many factors related to the value of a specific model, your notion that offering a wide range of value is a sound one and perhaps most useful.

However, I have seen some excellent advice given to inexperienced buyers that saved them from making poor decisions. About once a week I see a thread where a buyer has been offered a well worn Model 10, for example, for 2 to 3 times a reasonable price and they seem grateful when steered away from the purchase.

When I first started buying S&W's I found this forum I was aided by some of the more experienced members here such as R. Burg which really helped me out. I think when you are new to a hobby it is helpful to receive advice from experienced practitioners.

 

[DWFAN]

A few years ago I purchased an Illinois State Police 5 inch K 14 from the serial number range in the first shipment to them. Guns a tight 98%. Payed way to much for it then and you couldn't touch one for what I paid for it now. Got one from the second shipment, also a solid 98%, a year later. Someone miss identified it as a model 10 with very bad pictures. 5 inch barrels don't come on model 10's. I took the chance that it was what I thought it was and came out a winner. Some of use are willing to bet on a purchase and get lucky or not. If not get rid of the turkey and move on.
It's not very often I ask guidance when buying a gun but I can tell you that more than a few times it would have been a good idea.
Like Doc said, if you already bought it it's worth what you paid for it. If you're speculating a purchase I see no harm in asking. But the big question is. HOW BAD DO YOU WANT IT? Every time I let price get in the way of a gun I wanted really bad I regretted it later. "I don't have the money." Poor excuse. Eat Ramen noodles for a year. Live in your car for 6 months. Just kidding.
DW

 

[stmry]

I disagree with the original statement. There are always variables , and fluctuations, and periodic extremes, but I think most of us are on the same page as to current values.

 

[dirty gary]

It depends on your fancy. If I find a nice Model 27 or 25, I'll let book values help me decide how much I should pay. But if I find something I'm actively searching for - like a 4 inch nickel 29-2 - I won't mind paying top dollar for the right gun. I've never regretted any Smith purchased, I do regret passing on a 4 screw 29 5 inch barrel for $750 in 1989.

 

[Coldshooter]

Nice thing about guns is that unlike real estate it is hard to ever get upside down. Oddly I think 8 3/8 ths model 29 are very little more than they were in the late 70s. Then a pristine used gun sold for around $450 now looking will turn up some for $550 here. About five years ago a 6 in model 19 would never get a second glance here, but look what a web sale will bring now. So as said location and who wants it mean alot.

 

[Jack Flash]

I can't agree with the OP. I think when several people chime in from various parts of the contry, we wind up with a consensus on the value range, which to me anyways is interesting. If someone believes such threads are a waste of time, the obvious solution for him would be to move on to the next thread.

I'm a firm believer in letting people discuss what they want to discuss, within the Forum Rules, of course. I find a lot of topics boring so I skip over them, no problem. Let folks discuss boxes / belt buckles / etc all they want, and more power to them. Nobody ever said that every thread has to be written to please me.

I can't agree that stocks bought for $15 years ago are worth $15 in today's market. Besides, that contradicts the statement that "Any item is worth exactly what someone will pay for it." Actually, I do not agree with either sentiment, but I don't want to drone on any longer so ...

 

[Hexer]

I agree with Saxon, he covered it from A to Z. If you hang out here for a while and do a little research, you can ballpark it. That is the best any of us can do. If you collect for the joy of it, then be happy with what you do.

 

[kb5601]

Can I give a somewhat new guys view on the subject?
I joined the site in Feb. of this year. Already learned a lot, I have a long way to go!!!
Here's what I know: I've purchase six Smiths since joining, what I consider to be very nice pieces. Have I paid to much for a few of them, Some would say so... Have I had some good deals, on a few I have.
Bottom line, they all even out in my eyes.
I am very happy with the collection to date. I will continue to grow with the experience I gain from the forums and from the ones I overpay on. I can only think it was the same for anyone who has been bit by this bug. This site is and will be a valuable tool for us new guys and the old alike... Just an opinion
Thanks to all who help out the NEW GUYS
KB

 

[3Gunnah]

While I have not been a member here for very long. I personally enjoy posting and reading posts by others about possible gun purchases. I also agree that when people from all across the country chime in you do get a good broad spectrum of prices. Sometimes it's also just about letting people know that the good deals are still out there if someone has the time to look. Also we get to see a bunch of cool pictures of some really cool guns. That's just my cylinders worth.

 

[merl67]

I too agree with Saxon something is only worth what someone is willing to pay. Do your homework before you buy not after. all of us have bought a gun only to find a better deal on another one somewhere else I only have one rule and it doesn't matter if I am buying with the thought to resell at a later date or to add to my collection. I only buy guns that I like that way either way I am ok. Guns are always a good investment if you buy quality stuff. Saxon I always enjoy your post may not always agree but that's just normal.