Overpaying for what you want

[MN2944]

In my other recent thread, I noted that I've been unable to find the late 70s era revolvers I'm looking for. Several of you provided some helpful links. It appears that at least some of the models are, in fact, available. The question I am now faced with is how much to overpay. There are some NIB examples with factory sealed tools and papers that are "overpriced" according to book and comments on this website by several hundred dollars. I could end my quest right now and avoid haggling over condition by writing a check, with the full knowledge that I overpaid.

To put it in perspective, I bought my 29-2 in the height of the Dirty Harry craze and paid $500 for it. In inflation adjusted dollars, that would now equate to about $1500.

So, keep looking, or write the check?

 

[29-1]

Write the check so that you can get some sleep
Chuck

 

[Flint Ridge]

If you have money to burn and can't wait, then get it now.

Or, if you're like me without money to just "blow", then enjoy the hunt, it may take months. You get to haunt pawn shops, gun shops where ever you go and keep a diligent eye on GB - I've snagged plenty there that flew under the radar. You could spend 100 hours on this though, but to me the hunt is almost as rewarding as the victory.

 

[kwselke]

If it is something you have to have now I'd see nothing wrong with paying a 10% or 15% premium in the current environment. I'd keep looking if you're thinking of paying a larger premium. In a few months new gun law proposals may fail, store shelve will fill up with ammo, and folks that have been buying anything and everything firearms related could be sellers. Half the fun of collecting is in the hunt anyway.

 

[mkk41]

Like the old saying goes , It's only worth as much as someone is willing to pay for it!

 

[JNewell]

Only you can answer that...here's my two dollars, oops, overpaid, two cents.

When I was younger and had maybe a little less money and thought I had a lot of time, I treated this question a little bit as a competitive activity and didn't want to be on the losing side of a buy/sell transaction. These days, I'm aware that all we have is "now," we don't have "tomorrow." Since that's the case, if I want to enjoy something, I ask myself "is it worth the price to ME?" rather than "did I get a good deal that I can brag about on the forums?" (Of course, for some people it is the hunt itself that is enjoyable, not the successful conclusion - which is totally ok - and in that case you'd feel differently about the price.)

The other thing I remind myself is to keep things in perspective. Overpaying for a 9mm Shield (which I arguably did last week) isn't like overpaying for a truck or a house. In most cases we're talking $25-50 or a little more, not $2500-5000 or $25000-50000. I don't smoke or buy coffee in stores......it doesn't take too many cartons of cigarettes or stops at Starbucks or DD to come up with what I "overpaid" on the Shield, and in the meantime I have, can shoot it and can enjoy it.

YMMV, of course!

 

[Joe Kent]

What is overpaying? Several hundred dollars more than what is "accepted value" may be overpaying, $75.00 to $150. or $200. maybe just buying early depending on base cost of comparable guns. Remember, as long as we are talking guns up to the lock models, they are not making them anymore and it will be another generation before my grand children might sell the guns that their dad will inherit from me and then they from him. The upshot is ,if you want it and can afford it without taking money that is needed else where then buy it when you have the opportunity.

 

[DAinTX]

I'm in the camp of: "if it's worth it to you, then it's worth it." Forget about what others say, because their answers are generally relative to their financial station. Almost any classic gun...and especially those models no longer made by a well-known, desirable maker are going to appreciate in a few years, combining with increasing rarity, to make today's purchase "worth it" reasonably soon. I've been on an early M&P snubbie push lately. I pretty much buy any example I see that's in good condition, regardless of price, because it's getting so hard to find them. It make me happy to find them and buy them, and I don't really care what "the book" says.

 

[mr.jbk79]

You say "late 70s revolvers". Not being made anymore. If you're gonna buy at what you feel is "overpaying," just buy the best condition, most complete package for the money, and take care of it. It will always keep value. Just buying early as they say.

 

[Doug M.]

Book price may be wrong or out of date, and is probably low for current pricing. Decide what is a good use of discretionary money (it had better be discretionary) and then go from there.

 

[old bear]

I for one generally don't enjoy the search nearly as much as I enjoy the end results of the search. Keeping that in mind on more than one time I've paid more that the current market value of an item I REALLY wanted. As is so often said,"I did not overpay I just bought a little early."

 

[jsfricks]

NIB or ANIB with the old revolvers are going to get harder to find as time goes on due to people deciding to shoot them or its stuck away in grandpas closet and not being oiled properly, etc. If its something I'm looking for and it's in super nice condition I'm willing to pay a little extra. A year later you won't even notice the extra money and you'll have a nice gun that you might of had a hard time finding it that shape again.

 

[OFT II]

Someone said that money won't buy you happiness but it will buy you Smith & Wessons and if they make you happy......

 

[rockyrider]

I once paid $275 for a LNIB K-22. I had kicked myself for selling one back in the '70s when I bought it. Another guy was holding out for the dealer to drop to $250. I never lost any sleep over the difference. I won't be making the same mistake this time.

 

[Snake Plissken]

I am not rich by any means, I bought a nickel model 19 4" yesterday, pretty like new condition, I probably paid more that I should have for it but I wanted it , it was nice and I don't second guess myself. To me it's a little like gambling if you don't have the money to lose then don't do it and if you do don't feel bad / complain about later cause you lost or paid to much.Just enjoy it and move on, if you get a deal great if not no sweat.

 

[ken158]

If you are looking for something elusive and find it, are you willing to pay regardless? Factor in time and gas before you answer... Now, if the thrill of the hunt and endless gun show and gun shop searching is your thing, then finding "it" could be the apex of the thrill. Hard call to make on a safe queen but easier call to make on something you will carry daily. I know I have enjoyed my Shield even though I did not get a great price but did pay under MSRP.

 

[LimaCharlie]

I usually find what I am looking for and think I can get it for less. I think about it for a while until I talk myself in to buying it. I go back to buy it and it is gone.

I found one of my Holy Grail guns a couple of months ago and it was a couple of hundred below MSRP. I convinced myself I could get it for less and held off. The buying panic started and I called to reserve it until I got there. It was gone. Now they are selling for $500 to $1,000 more than MSRP. I will wait until it comes back under MSRP because it is something I want and not something I need.

 

[RON K.]

Buy what you like when you like and the heck with book's or friends saying you got ripped. also if when you are 20 or 30 you might search for awhile, But get into the age of 50 60 and 70 and you say "How much time i got left to look and save a few buck's.do what makes you happy.not what a book price or a friend says this is the cost.I recently spent $1,760.00 shipped for two current model 29's a Talo and a blued 29 both new in box. some will say i was crazy at that price.well i have the guns and they don't. and i'm done with it. now to find another model 645. enjoy the Smiths and have fun with it when it becomes a Job. then the thrill is taken out of it and it no longer becomes fun, or what we really wanted it to be.

RON K.

 

[mbliss57]

Pay what you can live with. I sold a 4" LNIB (unfired outside of factory) 29-2 last month for $1050 shipped . Presentation case, tools.. all the goodies. If that is the gun you are looking for I recommend you keep looking at $1500.00 That $1050 I got was top dollar. If it's an S prefix no dash or -1 or pre 29 then snag it as soon as you can.
I over pay when I want something that is hard to find but not by 30-45%.
Look at completed auctions on GB for a comparable item. Be careful of the exceptions where someone bids it way up. Throw out the highest and lowest sale prices and then use an average. Now use that as a base line. If you find something that averages $1K and you find what you want for $1100 or $1200 then go for it if you really want it. But I would not recommend paying way above average retail unless you just have a lot of $$ and it doesn't matter. You have to live with the decision. Good luck.

 

[semperfi71]

My purchase philosophy:

1. Is it cheaper, or equal in cost to a modern made version? If so it's definitely a better made version if older. Even if a little more costly than the new M686-whatever with a lock.

2. I'm 60, how much longer will my eyes hold up to shooting, or even me? If it's hard to find and I don't want to spend the time, I am willing to pay "more". I'll still get more back when selling it then I did on my last vacation.

3. Will the "War Deaprtment" allow it? If she does I'm good!!