5" M&P Price Check

[clang444]

I need it like I need an extra hole in my head, but I've come across a pre-war M&P .38 special with 5" barrel and original service grips with medallians for $300. Overall codition is excellent - the gun doesn't look like it has been shot or holstered much, but there is some old blueing wear aroung the grips. No box, etc.

As all my M&Ps are post war, this gun is calling to me. What do you guys think?

 

[clang444]

I need it like I need an extra hole in my head, but I've come across a pre-war M&P .38 special with 5" barrel and original service grips with medallians for $300. Overall codition is excellent - the gun doesn't look like it has been shot or holstered much, but there is some old blueing wear aroung the grips. No box, etc.

As all my M&Ps are post war, this gun is calling to me. What do you guys think?

 

[dopplebok]

c444, For what it's worth, if it's that nice, I'd go for it. Unfortunately, someone let the cat out of the bag about M&P's and thier price is going up. If you like and want it @ $300, go for it. They don't make them like that anymore !!!!! Just be sure it's late enough serial # wise if you want to shoot it much (without going to light loads) Hard to beat a 5" M&P. Dopplebok

 

[mikepriwer]

All together, the factory made near 1,000,000 pre-WW2 .38 K-frames.
If this one is calling you, what are you going to do when the rest of them
start yelling and screaming ? Take it from me - you do not need this gun.

$300 is tops, given its near-zero collectibility. Offer $250, and see
what happens .

Later, Mike Priwer

 

[Gary]

Mike, I don't know. I believe that you could put together a pretty interesting collection of M&Ps without a big cash outlay. A lot of variations + prewar S&W quality + fairly low cost for decent examples. It sounds like a nice way to start a collection to me.

 

[mikepriwer]

Gary

Yep - a guy could do that. Four barrel lengths, two finishes, two calibers, two
sight configurations, and nine model variations. Lets see - why thats only 288 guns.
If he stuck with M&P's only, no targets, well thats only 144 guns. Say you had to pay
$300 a gun - its just a bit over $42,000 .

After a while, he'd probably get tired of looking at what is basically the same gun
in 144 variations, so off to an auction to sell them. Maybe do it in two lots ?
He'd lose at least 50% of the money.

This is the problem with guns that don't have much going for them, collectibility-
wise. As nice as they might be, at that price, they are just shooters. I'd be very
hard-pressed to recommend that someone start a collection like this !

Later, Mike Priwer

 

[km371]

I've been looking at the same type of gun for years now. I'm STILL not bored-I like 'em.
Maybe he can't afford some of the real expensive S&W's.

 

[clang444]

Thanks for the comments Gentlemen - I was stuck between your different lines of thinking before I posted, and I guess I still am.

I'm not really planning on starting a collection of pre-war M&Ps - I guess I'm really more an accumulator than anything. I do like to shoot what I own, and I thought this one would make a great shooter.

If I remember correctly - SN was about 550,000, making it a 4th change. I assume it would be safe to shoot modern ammo.

I might have to see if he'll take $250...

 

[paul s]

Thats what they use to say about Colt SAA"s, 1911A1's and bunch of other stuff that a few years ago was "boring" I am old enuff to remember GI 1911's all day long for $250.00!

Originally posted by mikepriwer:
Gary

Yep - a guy could do that. Four barrel lengths, two finishes, two calibers, two
sight configurations, and nine model variations. Lets see - why thats only 288 guns.
If he stuck with M&P's only, no targets, well thats only 144 guns. Say you had to pay
$300 a gun - its just a bit over $42,000 .

After a while, he'd probably get tired of looking at what is basically the same gun
in 144 variations, so off to an auction to sell them. Maybe do it in two lots ?
He'd lose at least 50% of the money.

This is the problem with guns that don't have much going for them, collectibility-
wise. As nice as they might be, at that price, they are just shooters. I'd be very
hard-pressed to recommend that someone start a collection like this !

Later, Mike Priwer

 

[mikepriwer]

Paul

I'm not arguing that prices haven't gone up, and they probably will continue
to go up. Even so, there are tons of beater GI 1911's around, and I don't hear
anyone saying that they are/were/will-be a good hedge against inflation !

I was trying to address the issue of collectibility, and whether these
particularly guns make a good foundation for a collection. As it turns out,
that wasn't the case anyway. In response to your comment, my point was that
it's all to easy to buy the many variations of these guns, but after all is
said and done, one comes to the realization that the variations are not all
that different, but in the process a lot of guns have been accumulated, and
a fair amount of money can be involved.

I would much rather see a person by one collectable $2000 gun, that 10
$200 run-of-the mill guns.

Later, Mike Priwer

 

[popgun]

I don't know where Mike see all of these Pre war MP at $200-250 because I can't find them. If you see a one in excellent condition for $300 or less snap it up, as they are rising in price as we speak. Mike if you buy a gun for $300 and sell it for $350 later how do you lose 50%?
popgun out

 

[Kamerer]

If the condition of this gun is truly excellent, that is a fine price. I purchased a 5" M&P 99% with no wear or turn line, with original magnas, and hand made bullet-loop tooled belt/holser for $325 this fall. I just couldn't repeat that deal again if I tried. Finding 70 year old guns in 99% original condition is pretty hard, even for M&P. if you can get 250, wonderful, but If I did not have one, I would not let it get away for $300.

I and a few others distinctly feel the 5" is the best looking and handling barrel on this frame.

 

[mikepriwer]

Pg

My point was that, if one put together a collection of M&P's variations, they
would wind up with lots of guns. I went on to presume that, at some point, they
would have learned all that they could, and would want to sell that collection, probably
moving on to something else.

A sizeable collection of M&P's - and I had suggested more than 100 - would have to
be sold at an auction, perhaps more than one. Putting that many guns back on the
market is not going to be profitable. $300 guns are going to sell for $200 or so,
just because too many of them are coming back onto the market at one time. By the
time sales commissions are factored in, along with all the other miscellaneous fees
associated with buying and selling guns, you wind up with about a 50% loss - give or
take a few percentage points.

This is very different from buying one or two $300 guns, and then selling them
individually a few years later. My comments were specifically referring to a large
collection of M&P's - which because of their large numbers, are very common guns.

Later, Mike Priwer

 

[popgun]

Point well taken Mike. I understand.
thanks
popgun

 

[pace40]

Unless you are specifically investing for a future sale, the gun is worth,exactly what you're willing to pay for it. The thing that's great about buying old Smiths,is you can buy em, shoot em, and as long as they're maintained and not abused, turn around in a few years and sell em for what you bought em for or maybe a little more. Kinda like free rentals

Personally, I have bought M&P's as part of collecting...why? Cause I like em. Not because I plan to retire on the investment. I like their simple lines. I like their variations. I like to take em out every now and then and wipe em down. Have I paid too much for some? Maybe in others eyes, but in mine, they were worth exactly what I paid at the time. And the ones without original boxes and docs and stocks? I shoot em...a lot.