Overpaying for what you want

[para82frame]

I don't worry about blue book, I don't buy to collect, I buy to shoot. Take today for example, I found a pretty nice model 28-2 in about 80% condition for 500 bucks, I looked it over and bought it without even looking at a blue book or the internet. To me, the model 28 I found is worth at least 500 dollars as a large frame .357 mag with adjustable sights and a good trigger. It will just be another trail/camping/range/(rarely) CCW gun that I will cherish like all my firearms.

...Of course getting home, looking it up online and finding out I got a pretty darn good deal on it doesn't hurt either.

 

[Timber Wolf]

I will straddle the fence on this one. I have missed buying guns I wish I had because they were a FEW bucks more than I wanted to spend. I am sorry about that and will not now let $50 or so stand between me and having something I want. But, I would not way over pay either, can not think of much I want that bad.

Everybody so far has danced around this but I will say it, $1000 for even a NIB 4" 19-4 is too much (IMHO). I over paid for my very good to excellent condition 4" 19-4 at $450 trade value back when I got it. I had maybe $350-$375 in what I traded for it but still the correct number to use was current market for what I traded, not what I had in it. I wanted the 19-4 worse then what I traded so made the deal.

I happen to like a lot of guns in addition to S&W. I have a general fondness for Ruger stuff and had been wanting a 4" stainless Security Six for several years. A friend sold me one, that he had bought new, at a fair price. Not long after that I walked up two, NIB at a gun show. I did not have the cash but the seller accepted my credit card and sold them to me OTD at what they were marked, $399 each (well, $800 for both). I asked online at the time and most that replied decided I had over paid. I ran an inflation calculator and based on what they cost new (mid-late 70s) till today I did in fact slightly over pay. But, go buy a brand new quality .357 Magnum for $400 OTD. And, they don't make the Security Six (or P&R Smiths) any more.

Yes, I know a Ruger Security Six is not a P&R S&W but, I'm a player at $400-$450, not at a $1000.

 

[gagunner 2]

timber wolf, I've got to agree with you on the security six.built like a tank.I have two in ss,a 6" and a 2 3/4 plus a blued 2 3/4.they can be smoothed up pretty easy.also added millet sights.their priced way below what you get.Bill Ruger said he lost money on them.

 

[Camster]

I agree with much of what has been written on this thread. There are two issues I haven't seen addressed that need to be taken into consideration from both a collector and a collector/investor standpoint...

1. We are about to see a future inflationary spiral unprecedented in our countries history. Items, like firearms, which are labor intensive, require specialized materials and specific engineering techniques are bound to go "through the roof" in price. Quality older guns are sure to reflect those increases and drive the price of used S&W's upward substantially. Buy those particular models you want now or you may soon be joining the "shoulda, woulda, coulda" crowd we see so often on this site.

2. Sad to say the political issues are 2nd. Little needs to be said here except we all have experienced the three major threats to our gun ownership and ammo supplies occurring during the last 4 years. The shortages are bound to continue caused by both panic buying and government initiated shortages. Simply consider the number of times you've heard the word "confiscation" by some politicians in recent statements. If we don't learn from these 2nd Amendment threats the price of new and used handguns won't matter much.... there won't be any, uh, permitted.

Just sayin'

I agree with much that you say,however rampant inflationary pressures do not always translate into higher prices for collectibles and other items considered non-essentials(though I reckon to most of us,Smths are essential!) In tough times,essentials take the lead. Bare in mind that tastes also change.We think Smiths are great,but do the 20 and 30 year olds of today agree? That's the future market.Remember,Model Ts appealed to our Dads,but today,few feel a connection to them.An item "that there not making anymore" but that doesn't mean that demand will go through the roof.( as a sidenote,I collected antique brass cash registers for years-that's now a collectable with a very thin market-the folks of today don't identify with them,don't want the clutter of antiques around the house-everyone that collected them is now in that 60-70 range like many of us here,and wants to downsize....doesn't matter about the craftsmanship,etc..it's become undesired stuff)

 

[arjay]

Which do you have more of,time or money? More time? Look for a better deal.More money? Buy em!

 

[BigBill]

Collectors condition, I try to find the best condition gun i can so i get the most bang for my dollar. For me the cost matters too.

Price wise Its how bad you want it. If you want it really bad you will pay any price. Is it more rare and hard to find it.

Then i see that my LGS has the new S&W N Frames with the loc for $599, $699 up to $750 for New S&W N Frames in nickel.
I find them very hard to pass up at that price thats under the list price by a few hundred dollars. Were talking a brand new S&W M57 w/6" barrel, new S&W M58 w/4" barrel and a new S&W M24 w/ 6 1/2" barrel all in nickel for way off the list price.

Then another LGS had a used unfired S&W M29-10 in 44mag with a 6 1/2" barrel with all the papers, blue case, wood presention case, looking brand new, again still unfired by the PO for $699 in blue how can we not pass that one up?

Getting Dirty Harry's gun finally means something after all these many years of waiting to find one at a decent price for some of us.

I know I see the used ones in the same price range too. But the older S&W revolvers in 22lr and in 38 special to bring a higher cost depending on condition.

I'm not a die hard collector but just a few will be ok. BB

BTW; Buyers remorse we must remember its only paper money were spending for a real piece of S&W history. We give paper and they give us a metal gun. I never have buyers remorse remember we can't take the money with us when we pass on.

make a bucket list and go for the gusto we only pass this way once.

 

[chud333]

You only live once !!!
If i see a revolver i've been wanting or hunting for awhile
i will also generally "over pay" according to todays experts.
If the condition and right barrel length etc. are all there
an extra hundred bucks won't matter in the long term.
Enjoy your hobby and don't lose sleep over the "One that
got away".

Chuck

 

[TACC1]

Time can be a factor on this issue. If you're running
out of time, you'd best make a move now. Waiting too
long for anything may mean the difference between being
capable of enjoying, or watching someone else enjoy that
which you no longer can. JMHO,
TACC1

 

[O2Guy]

If you find it and like it and have the money, buy it. If you are happy, you didn't pay too much.

And don't pay too much attention to what other people say. There is always someone on here that says that $600 is too much for a Model 66 no dash with the 2 1/2 inch barrel. He just bought one for $275.

 

[labworm]

I did buy my 66-3 2 1/2 for $300.00 brand new in the box in 1990.

If you fancy a certain firearm and have the opportunity to purchase it, don't worry about the price. Otherwise you may never end up owning it.

Let the current prices of Smiths be your guiding light.

 

[hotrod150]

"Over-priced" kind of depends on what you're gonna do with it. If there was a gun for sale that I KNEW I was gonna own for the rest of my life, I wouldn't let it being somewhat overpriced stop me from buying it. But I don't know if I'm gonna keep anything that long. I got into 38 revolvers in a big way about 10 months ago. Today I own 3 S&W Chiefs (two 36's & a 60). But in that 10 months I've bought and resold several guns: a 2" Taurus model 85, a 2" 12-2, two 3" 36's, a flat-latch 2" 36, a 2" 37, a 2" 442-2, and two Detective Specials. I didn't buy them to resell, I bought them to keep, but then decided (for various reasons) thatI didn't want them. If I hadn't gotten each of them for a good price, I would have had to sell for a loss or else be stuck with them.

 

[guzzi]

Wow, great post. I am 2 months away from 60 yrs, and my bucket list is suddenly very small. Purchased a model 58 from a forum member with few wear marks, been in the chase for almost 20 some years looking for the great buy on a 58 and having been outbid every time. Found it here and it looked great and sold by a solid forum member. Do I think I overpaid? considering the amount of time spent trying to make and keep a bid active, monitoring and still ending up empty handed, YES. I do not have "disposible income" but I have my S&W emergency sock chest set aside for such an event. This a great forum, I love you folks!~ jb

 

[beemerphile]

In my life, I find that I have been generally more regretful of my economies than my extravagances.

 

[geraldo]

IT only cost a nickle more to go first class !

In 1979 I purchased my first new truck, the dealer had 2 jeep trucks left on the lot before he was closing his business and was giving good deal on his left inventory,one was a base model with just the basics $6200, the other was a jeep Honcho the ultimate Jeep truck loaded with every option and more, $8500, I bought the cheapiest. when I would be driving down the road and see another Honcho going down the road ,boom it hit me I could have been driving one for a nickle more. Since then I always buy what I want if you dont you will never be satisified with your purchase! now when I see a NIB Smith or COLT if I like it I buy it, there are no guns in my safe that I wish I had'nt purchase. ( IT only cost a nickle more to go first class)

 

[brokenprism]

I don't think twice about overpaying. My problem is underselling. At Christmas I bought a NIB nickel 29-2 with everything including shipping carton. Paid $1495. Then I sold it here, I think, for $900 or something. I realized I couldn't shoot it in it's pristine condition, and I hate bumping WTS, and waiting generally, so I priced it to sell, and man did it sell. Did the same thing with a $1k Commander I put $300 more into, then sold here unfired for $850. Buyers love me. Sellers do too. So if you can hold on to stuff, buy it, screw it, you live now and it will be worth what you pay evntually -- if you can keep it long enough to hit the price you agree to.

 

[BJoe]

"OVERPAY" is kind of a subjective thing. If you are one of those that carry a Blue Book to gun shows you got the wrong hobby. I pay what I feel is fair, and sell for as much as I can get.

 

[gatchelguy]

I gladly 'overpaid' for a gun this week; $300 for a nice M10 2". I remember when that gun was $65 brand new. But I didn't HAVE $65 back then.

 

[Road Rat]

If I see a firearm that I really want and I have the money I'll haggle as much as I can but I'll buy it anyway.

I would spend more time worrying about not getting it or spend more money running around trying to find another one a few dollars less...............not worth the hassle.............just pay the two dollars and go home!

 

[repawn]

I gladly 'overpaid' for a gun this week; $300 for a nice M10 2". I remember when that gun was $65 brand new. But I didn't HAVE $65 back then.

Dud you happen to buy that on gunbroker? I was following one just like that - decided I wanted a 4" model instead. The 2" looked really nice.

 

[WardenRoss]

FWIW

CIRCA 1989 - purchased a 3" model 66 for $180 and thought i overpaid.

CIRCA 1990 - purchased a 6" model 19, w/target trigger/hammer for $220 and thought i overpaid.


now look what they are worth now!


glad i didn't pass them by! hey, it's only money!