What’s up with the cost of 28’s lately

The only problem with a 28 is they don’t make them with a 5” barrel. My opinion only I’m sure others will disagree.
Not true, S&W did make the Model 28 with a 5 inch barrel. They are known to have made 25 with that barrel length, all were finished in nickel plating, all went the Florida Highway Patrol. There may have been just a few more like those for the FHP made as salesman samples. There are likely more fakes out there than there are original 5 inch Model 28's.
 
The value of a Highway Patrolman/ M28 to a S&W enthusiast can vary widely depending on vintage, condition and barrel length. Generally, the 4" guns bring a higher price than 6" guns, and the older the gun, the higher the price. High condition guns bring premiums because, as stated earlier in the thread these were working guns, and most of them show it.

Many sellers see the high prices on high condition early guns, and think their 1980 example is worth just as much, so it gets priced high. Too many people look at listed prices on auction sites, instead of looking at what guns actually sell for.

I got lucky and got my first year HP at an LGS that priced it like "just a 28"...

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Way cooler name too!

Here’s my S263xxx 28-2 that shipped in May 1963. I picked it up about a year and a half ago for $750. I had another 28-2, N-prefix from the ‘70s that was in a little worse shape and I sold it at the Lakeland show a year ago for $700. I think I paid $600 for that one back in 2020.

I’ll have to check my sn later, I believe mine is 1963 as well, 550 about 3 years ago.
Actually, it was 5 years ago looking back at posts on the other forum, it’s 61-62 and was 450. No rust, no pitting, numbered diamond magnas in great shape.
 
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I’ll have to check my sn later, I believe mine is 1963 as well, 550 about 3 years ago.
Actually, it was 5 years ago looking back at posts on the other forum, it’s 61-62 and was 450. No rust, no pitting, numbered diamond magnas in great shape.

Ohhhh…if that’s ‘61, it would be a birth year revolver for me!

Need pictures!
 
M28's

I got this Model 28-2 for $550 about two years ago. The gun was borderline unfired, but it had ugly aftermarket grips which I sold on Ebay.

I then lucked into a M27 parts kit that had been laying in water in a Nevada police armory. I completely refinished the grips myself and they are solid as a rock. Beautiful gun really, especially with Model 27 N frame targets.

I have a large hand so the target grips are perfect for me. After using the N targets from the kit, I sold the remainder of the Model 27 kit on Ebay for the same price I paid, which gave me the grips for free.

From this demilled Model 27 parts kit:

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To my model 28-2:

melvinwalker-albums-tg-s-picture28578-m28-2-2-a.jpg


melvinwalker-albums-tg-s-picture28577-m28-2-1-a.jpg
 
I'm a big fan and owner of both Model 27s and 28s, and I agree that the Highway Patrolman and Model 28 revolvers have long been undervalued...but that's worked to my advantage! I have a few HPs, including a first year (and my birth year) from July 1954. I do think that 3-1/2" and 5" versions would have been popular with LEOs and civilians, alas, it never happened. I thought that four HPs might be enough for my modest collection (first picture), but then a couple of weeks ago my good friend insisted that I buy an ANIB 6" 28-2 from his recently inherited collection. He would only take $600 so how could I refuse! In the box I found the original sales receipt from 1974...$145.52! That equates to about $950 in 2025 dollars. I guess that I got a pretty good deal all around. Enjoy!
 

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I had a 28-2 that my late father in law carried as a duty gun redone by Fords. They did a great job on a great gun. It will be passed down to one of his grandsons at some point.

How does your side plate seam look? They did my 14-1 for me and did a beautiful job on the finish, but when they buffed out the side plate, I wasn’t too happy with the gap that was left.
 

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Just married and newly enrolled in seminary, I came down with a extreme case of gunitus! It was so serious that immediate attention was required. As soon as money could be saved, my brother took me to Arvins Pawn and Jewelry in Macon, Ga. $174 later I walked out the door with a brand new gorgeous six inch Model 28-2. With that handgun I considered I was well capable to shooting anything that needed shooting! It is now 45 years later. That original 28 is long gone. My brother replaced it in 2000 when he gave me a six inch 28-2. A four inch 28-2 joined it a few years later. My brother died in 2004. The revolver he gave me is an elegant reminder of our shared love of S&W N-frame revolvers, especially the 28-2. I much prefer its narrow trigger/hammer and the ramp front sight. The six inch is carried in a El-Paso Tom Threepersons basketweave holster. The four inch is carried in a Bianchi 111 Cyclone or else a Bianchi 10L Outdoorsman. I consider these two revolvers to be ideal for shooting any and all .357 S&W Mag. loads, up to and including the very optimistic loud and boomers that I cooked up in the days when I took the data in loading manuals as mainly a guide rather than actually the standard. One day I will have to let my handguns go. No matter what, one will be kept. Want to guess which one it will be? Sincerely. bruce.
 
I only have two model 28s left, both 4” and both 90%+. I may be wrong but it seems the top shelf models of S&W revolvers have reached a stagnation of price. The lesser models which are mostly service and self defense types are on the increase. This includes only the prelock models.
True collector items will always hold their value. The trend away from revolvers has much to do with ammo prices. There were millions of 38 & 357 revolvers manufactured. Why is a box of standard 38s two to three times as much as a box of 9mm?
 
I only have two model 28s left, both 4” and both 90%+. I may be wrong but it seems the top shelf models of S&W revolvers have reached a stagnation of price. The lesser models which are mostly service and self defense types are on the increase. This includes only the prelock models.
True collector items will always hold their value. The trend away from revolvers has much to do with ammo prices. There were millions of 38 & 357 revolvers manufactured. Why is a box of standard 38s two to three times as much as a box of 9mm?

I agree with this...There is only so expensive a price and limited demand for collectors for a Registered Magnum, or Schofield, etc.

However, IMO, guns like very nice condition 15-3's, Model 64's, 67's, 28's will tend to increase percentage wise versus their wildly rarer counterparts.

Much like a Shelby GT500 versus a small block 1967 coupe...The GT 500 has a much smaller buying component and the price makes it a glass looker for most buyers. Many buyers can see theirself in a nice classic, no-rust V8 Mustang coupe
 
I can say my 2 28s combined cost 2/3 of my 1 27, purchased all in the last 6 months. I’d say there is still value to be had, the matte is pure modern class.
 
Perusing some local ads, I found a S-serial 6” no box or tools for $700 and a 4” early N-serial from ‘69 with box, tools, and paperwork for $850. Both seem like pretty good bargains to me.
 
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