Pricing and sources: Yes, they are going up on the national level. I purchased (the last?) 4566TSW on GB last fall (for under $500) and haven't seen (m)any listed for a minimum bid under that yet. The going rate has crept up another $100. I do understand how that factors in for some.
But - what are you buying? Comparing to a polymer is apples and oranges. I compared material and caliber - the majority of stainless guns in .45 meant I was comparing one I paid $470 shipped. against guns retailing for over $1100. And about the only choice in stainless was 1911 or Beretta. In that regard the 4566 was a steal.
It being an LEO trade in it appeared to have typical holster carry, a look under the slide and it was very low mileage. Cops often only familiarize with their firearms once or twice a year, and most don't even shoot their service gun once a month. Since the TSW line came out in the 90's these guns haven't done much in the field or the range until the department replaced them. And some departments exclusively purchase only S&W 3Gen, like the CHP, Canadian Mounted Police, etc. NIB guns come out of the woodwork because of that as production overruns. There was one listed at a Cabela's reported on the shelf just last week - and it's apparently been there awhile as younger gun buyers aren't knowledgeable about what they are.
There is where you find them - in stores with low traffic for older guns, they sit long enough to find. National level auctions sites are no longer a good deal as the energetic collectors are hitting those pages more than once a day and as described above, its a matter of minutes before the other guy gets there first. The real bargains are now in gun stores as trade ins where nobody much looks. It takes ready cash and repeat visits to catch them.
If you can barter well or find a buyer who just wants to dump one, gun shows could provide another source. I'm going today to one and see what magazine pricing and availability is like. I don't expect much but then again - you never know.
Price compare to other stainless guns and you get a better grasp of why the buyers in this market are justifying the $550 prices. And finding a NIB model on the shelf for $675 to $800 in a rare model is why those keep moving. It's no longer a commodity market in used stainless autos - polymer has taken over so much there are few models to choose from. Consider how Colt Pythons or HK P7's have accelerated - what we are dealing with today is the same thing just past the bottom. It's all up from here and won't get cheaper.
I got mine.
