1903 hand ejector .32 - value increase?

[Mobilman44]

Hi,
I inherited a 1903 S&W .32 hand ejector revolver w/ 4 1/4 inch barrel, blued, with all parts fitting beautifully and all numbers match. It is serial # 10x...........

I have the 27th Blue Book of Gun Values (2007) and the estimated value of the piece was about $300.

Today I got the 2012 Blue Book and it looks like the values for this piece have more than tripled!

Can anyone shed some light on this ?
Thank you,
Mobilman44

 

[DCWilson]

The Blue Book is pretty much a joke among serious S&W collectors. They may not be far wrong on the values and prices of models produced in the last 20-30 years, but they are just flat out terrible in their reported valuations of guns produced before WWII.

Just confirming: your gun has a six digit serial number beginning 10? If so, it was manufactured and shipped around 1910. Depending on the state of preservation of the original finish, it would be worth between $275 and $375 in today's market. If it rates as a 98-99% gun, value might go to $400 or a little over depending on buyer interest.

If the gun has been refinished, collector value has been eliminated and the gun should be valued only as a shooter -- say $200-300.

Search the completed sales on Gunbroker for comparables. There are always a few .32 Hand Ejectors for sale there. Some never sell because the opening bid or reserve is set too high, but the completed sales will tell you how the market actually values these guns.

I don't know why the Blue Book doesn't check out Gunbroker or other auction sites before bringing out their next edition.

 

[Mobilman44]

Hi,
The revolver is # 104. It is from the "first batch". My Dad had in in his dresser for a good 50 years, and in our grocery store before then. It has not been fired since perhaps 1960. It is in excellent condition and has been validated as such by the local gunsmith.
My "wonder" is if it really increased in value 3 fold in 6 years?
Thanks,
Mobilman44

 

[Wiregrassguy]

Can't tell without pictures.

 

[DCWilson]

Hi,
The revolver is # 104. It is from the "first batch". My Dad had in in his dresser for a good 50 years, and in our grocery store before then. It has not been fired since perhaps 1960. It is in excellent condition and has been validated as such by the local gunsmith.
My "wonder" is if it really increased in value 3 fold in 6 years?
Thanks,
Mobilman44

Thanks for the clarification on the serial number. Low-number guns get a value kick in the eyes of a lot of collectors, so that could push its value up a Grant or two.

Do not be misled by the blue book. That gun's value undoubtedly went up some in the last several years, but it did not triple. We would still need to see photos to help you grade and price it.