How to value my stolen handgun for insurance

[sting4321]

My handgun was stolen, and I am trying to find the value for my insurance company. All I have is a serial number, N5 22349, for my S&W Highway Patrol .357 magnum, with an oversized cylinder, and a 4 inch barrel. Can someone help me figure out how to determine the value for my insurance company?

 

[jagular]

Visit your local gun shop. They usually have a value book since they take in trades. If not, look up 2-3 on gunbroker and average them out.

 

[Targets Guy]

Go to gunbroker.com and look at the sold guns (your type specifically). That will give you a going price.

Also check out your style at Gunsinternational.com

 

[robertrwalsh]

Not sure what an oversize cylinder would be on this weapon. You might check sources like GunBroker for actual sold prices on a similar weapon. Also, depending on where you live, a local gun store might be able to give you or direct you to an honest-to-god appraiser of such things, though appraising a gun after the fact is little more than educated guesswork. I am sure others on this forum can give you a reasonable estimate, whether or not your insurance company would accept it is another issue. The actual HIGHWAY PATROLMAN is often known as the Model 28, a plain-Jane version of the more high end Model 27. That matches up with your serial number.

 

[Targets Guy]

Here is a link to 448 sold Highway Patrolman

http://www.gunbroker.com/Firearms/Completed/BCI.aspx?Keywords=highway+patrolman&Timeframe=1&Sort=13

 

[Qc Pistolero]

Sorry for the loss.Hope the insurance will solve that quickly.
You've scratched my curiosity;what do you mean by ''oversize cylinder''?
Qc

 

[Class III]

Go to Gunbroker.com and do an advanced search on completed auctions using the search term "Smith Wesson Highway Patrolman" and "Smith Wesson 28". You will see a lot of auctions. You want to look at the ones that actually sold (Received a bid).


I just did a search using the term "Smith Wesson Highway Patrolman". It returned 463 matches. On the front page of the search there are six 4" barreled versions that have sold between 25 July 2017 and 18 August 2017. The lowest winning bid was $450. Highest winning bid was $800. Average auction sale price of those six revolvers was $634.17. Condition on these six varied from about 85% to NNIB. Some had replacement stocks, some had factory wood. Only you know the condition of your revolver that was stolen.


I'll leave it up to you to do the search for "Smith Wesson 28" and look for the auctions that resulted in a sale.


Class III

 

[andy52]

I'm thinking he's talking about the difference between a N frame and a K frame when saying oversized cylinder but I can't be sure.

 

[montezumaz]

Standard Catalog of SMITH & WESSON 4th Edition page 230:
ANIB: $900, Exc: $700, VG: $575, Good: $450, Fair: $350
"30% premium for no-dash Model 28."

 

[StakeOut]

Can you share the manner and location in which the theft occurred?

I'm always curious as to how peoples guns are stollen.

 

[MichiganScott]

Helps to be able to prove ownership. I keep a file on each gun purchased with pictures and add any receipts from repairs, custom work, etc.

 

[Tyrod]

It really doesn't matter what value you put on it, the insurance company is gonna beat the snot outta you on it. You'll actually be lucky to get 1/3 of actual value. If the remainder of the claim is satisfactory, what cha gonna do? Sue 'em for few hundred dollars?

 

[riverrat38]

It really doesn't matter what value you put on it, the insurance company is gonna beat the snot outta you on it. You'll actually be lucky to get 1/3 of actual value. If the remainder of the claim is satisfactory, what cha gonna do? Sue 'em for few hundred dollars?

Insure lightly and buy a heavy safe!

Best,
Rick

 

[Dale53]

I am a retired Insurance major case claims rep. Your particular policy may have replacement cost (that means you get a new revolver less your deductible). If you were happy with your old revolver, just let them buy you a new one.

If you are an NRA member, you may have coverage with them (a simple phone call to the NRA will confirm one way or the other).

The Blue Book of gun values may also be helpful to you in establishing the value.

Good Luck and keep us posted.

Dale53

 

[Ron M.]

Go to Gunbroker.com and do an advanced search on completed auctions using the search term "Smith Wesson Highway Patrolman" and "Smith Wesson 28". You will see a lot of auctions. You want to look at the ones that actually sold (Received a bid).


I just did a search using the term "Smith Wesson Highway Patrolman". It returned 463 matches. On the front page of the search there are six 4" barreled versions that have sold between 25 July 2017 and 18 August 2017. The lowest winning bid was $450. Highest winning bid was $800. Average auction sale price of those six revolvers was $634.17. Condition on these six varied from about 85% to NNIB. Some had replacement stocks, some had factory wood. Only you know the condition of your revolver that was stolen.


I'll leave it up to you to do the search for "Smith Wesson 28" and look for the auctions that resulted in a sale.


Class III

Thanks for this info, I had never gone to advanced searches on GB before...learned the last three Ruger GP100 .327 revolvers listed in the last year sold for almost twice what I paid for mine...will now use it to price my collection in the event I lose any.