I've been collecting S&W's and firearms in general for almost 40 years. I've been fortunate to have acquired many nice pieces. At present I have in the safe somewhere around 50 - 60 Smith's. Of those approximately 20 are NIB 'Safe Queens' the remainder are higher end examples with a few 'woods guns' in the mix. I don't own any truely fine examples of Registered Mag's or 5 screw 29's like a couple of our Experts (but do enjoy looking at thier pictures!), but the ones I have span a time frame from an early .32 Wcf 4th model to models made in the mid/late '90's. Many P&R models and pinned examples, I've tried to buy the best condition that I could both afford and find.
I do not nor would I own a 'lock' model gun. To me they are just about the most hideous thing out there, why S&W could not have integrated the lock into the cylinder release (if they had to put one on at all) where it would be much less noticable, is beyond me. It would have been easy to drill that hole dead center in the cylinder release and accomplish the same thing.
I'm digresseing from my point tho', that being that the price of higher grade S&W's is, I believe, somewhat undervalued. When you look at the MSRP of new 'lock' models, hovering around $900 or so and then look at a pristine or NIB models that are 'pre-lock' and realize that you can still find one for around 60% or so, it puts things into perspective. No serious collector likes the Lock, but many bemoan the fact that an excellent example without it is commanding the prices they are.
I don't like paying the current rate for high grade guns anymore than the next man, and sure miss the days when $300 would buy you a very nice .44 mag, but those days are gone and aren't coming back. Sooner or later folks will realize that, then where are we going?
I have a 97% Model 57, when I bought it the price was $275 OTD, what would that gun bring now? What is the price of a 'Classic' lock model? See where I'm going with this? If I were to offer this gun at $750, which when compared with what is out there now, people would howl that I'm asking too much, but compare the new 'Classic' with this one and ask yourself would you pay the $900 if it were the same gun? Yes, you would. You wouldn't like it but you'd pay it if it were pinned and recessed and made with the quality of the old ones.
I'm glad I was able to get into the hobby when I did and look forward to continueing in it, but there will come a time when the supply/demand chickens come home to roost, and I'm not happy with that, but don't know what to do about it other than pony up a little more now, for what will look like not so much then.
RD