What you are giving as a model number would appear to be an assemby number and is irrelevant to identifying your revolver. If your gun is as I suspect a Military & Police model, from the serial number you have given it would date to the mid-1930's. It is difficult to be more precise for S&W products from that era without obtaining the information directly from the company.
Value depends hugely on condition. How about a photo?
The gun is about 1931, maybe 1932. Without a picture, you should
tell us the barrel length, the finish, the amount of original finish
remaining, and the type of sights ( adjustable or fixed ).
It's a 5" .38 Military & Police from the time frame Mike mentioned. If the (apparent) holster wear at the muzzle is the only worn finish, I'd guess $275-300, but many of these have the "resting the hand on the gun" wear on the grip frame that would reduce its value. Hope this is helpful.
Looks like an honest and unmolested piece. I'd buy every one I saw like that at $275-300. Although, as it's been pointed out, you can't see all the possible wear, I still think nowadays it'd be unusual for one in this shape to turn up at a show or in a shop with an asking price of less than $400.