I have a friend that wants to sell a M66-3, 3", full underlug, serial number prefix BBN, no original grips or box, just the M66-3. I want to keep him as a friend, and I know he will take pretty much what I offer him. My question, what is a fair price for this piece? I do not have any pictures. Thanks.

Generally speaking, this is a highly sought after model. Not as many were made compared to its 4" and 2.5" siblings. The three inch barrel is thought to be an ideal compromise between sight radius and concealability, and allows for a full ejector rod that clears .357 cases better than shorter snubby set-ups. (Technically speaking, the 66 doesn't have an underlug, but a shroud; underlugs run the full length of the barrel, as in the model 686s.)

Impossible to say what a fair price is without more information as to the mechanical and cosmetic condition. Suffice to say that minus the original grips, box and other accoutrement, it's probably closer to shooter condition than collector.

On that assumption, it's still an uncommon and desirable piece. If used but overall mechanically and cosmetically sound, say NRA standards "very good", $650's probably on the low end of average market value, with $700 to $725 nearer the mark.

If it's in exceptional shape, push that closer to$750 to $800, the way Smithies are selling at present; a collector's grade of a 3" 66 with all the trimmings (box, paperwork and tools) could easily fetch upwards of $1000 on the auction sites.

Thank you Hapworth. I should not have used underlug, full lug would have been more appropriate since that is what S&W calls it. I really appreicate the response. The conditon is in good to excellent condition, but no box, no original grips, just a set of Goodyears on it.

Dealing with a good friend.

Google the firearm at different sources for going rates.

Pass the info to your friend, then let him know what you are willing to offer.

He will either accept or decline, both of you will remain good friends. Be truthful and up front, the best approach as I see it.

Good luck and let us know when you become the new owner

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Doesn't hasta call me Johnson

This is good advice, to which I'll add that if and when you research the auctions, make sure you note what similar guns are selling for, not what's being asked for them. There is often worlds of difference, and the selling price more accurately reflects market value.