Model 28-2 Thoughts and Current Values?

[C3Ranger]

LGS just acquired a 28-2 4-inch, blued. It's an N518XXX serial number that based on a member's earlier post would date it to 1978. Looks to be original, no alterations or refinishing and is in very nice condition. No holster wear or other indications that is has been carried or fired significantly. No box or papers.

Problem is, it is on consignment and (like all of us) the owner wants top dollar.

Looking at GB and other web sites like True Gun Values, prices are all over the place.

Stocks could be original. Asking is $1500!

Unfortunately, I have no photos at this time.

Any thoughts or other feedback will be appreciated!

 

[Jack Flash]

You did not mention if it has the original stocks. I imagine it has, based on the description. As you say, asking prices are all over the map. It sounds like a nice gun indeed. Realistically, I would guess he's asking in the range of $800 to $1,200, and he will probably get it.

 

[lihpster]

I just purchased a 28-2 6". Still waiting for the BGC to clear. Mine has some wear and the stocks are either not original or originals that someone butchered. It comes with a beat up belt holster and a nice pistol rug. I feel I overpaid slightly at $1000, but it's the only one I've seen local, even on Armslist. When I get it home, I will put on a set of elk stags and maybe a new holster. Even overpaying slightly, I still feel good about this deal. Others might not feel the same way.

 

[mod29]

How much are they asking?

ETA: I see you have added the asking price to your original post, thanks.
They're asking at least $500 too much for that gun, especially since there's no box, etc.

Nice gun, though.

 

[m4user]

I purchased a M28-2, 6" bbl which I would rate at 95% in the original box w/papers in late 2019 for $750. Somewhere along the line someone put a target trigger on it as the box indicates it was shipped with a standard trigger. As others have pointed out, prices are all over the map these days so make a reasonable offer on the low side and be prepared to pay a little more if you really want it. If you are just looking for a shooter, the Highway Patrolman is an economical option to the Model 27.

 

[Vtgw938]

The good thing with 28's are even over priced they aren't that crazy. I would gladly pay more for a gun I can put in my hand before I buy it, and it keeps you in the good graces of the gun shop for the next one. I personally would want one older, but that is me. I want guns older than the first one I got, simple as that. Your only going to find so many that are that nice. If you like it and it isn't crazy buy it and never think about the price again.

 

[PeteC]

I would examine it with a bright LED flashlight before making a decision, that flat finish can hide a lot of flaws under indoor lights.

By coincidence I just pulled out my notes on a couple I bought recently (in pic below), and one I did not.

• Model 28-2, 6", s/n S251xxx, with much later target stocks, ~1965, $650 plus FFL fees.
• Model 28, 4" , s/n S190xxx, with correct but not original diamond magnas, ~1959, $600 from a private seller, with some freckles, couple scratches and blemishes, and rear sight blade that needs replaced
• Model 28-2, 4", s/n Nxxxxx, with correct grips and numbered box, no turn ring, one small flaw on side plate, $1050 on consignment at a local gun show, unsold at end of show.

I feel like $600~700 for one in Good-to-VG condition is about the bottom of the range, and ~$1,100 is the top of the range for one in Excellent condition with grips and box (maybe more on Gunbroker).

 

[Chukar60]

Was at a gun show this weekend.
I expect most everything there, including the jerky to be over priced.
I saw 3, 4" 28-2's that did not disappoint. None were under $1K. IMO condition did not warrant the price tags

 

[Fishinfool]

Over priced, I think, considering no box, tools, paperwork, and the stock issue (should be non diamond magnas, serial numbered to the gun).

My guess at a fair price? Maybe $650 to $750.

If it were in 98% condition, with original grips, box, tools, and paperwork, and with the earlier "S" prefix serial number, then a collector might be interested at $1500.00.

Couple of years back, I paid $550.00 for a 4 inch 28-2, 1963 manufacture, all original, with a little blueing wear. Just the gun.

Larry

 

[S&W-Keeper]

Wow! Thy are proud of it. That is over priced by about $500.

 

[Grayfox]

Honestly, I'm not up on current market values. But for me, that gun in that condition would be $800 max. And then only if I was in a good mood.

 

[Vtgw938]

Don't recall seeing the price earlier, yes $1500 is way over priced.

 

[stansdds]

No box, no papers, excellent condition Model 28-2 for $1500? That would be a firm "no", even in today's over-inflated market. If it was NIB, maybe, but even still too high. $1000 tops in today's market for what amounts to an excellent condition shooter.

 

[Narragansett]

900 to 1K is where it should be, but I understand the price. Seller wants 1K, and LGS wants 1/3 for selling it. That adds up to 1500. All the consignment guns I run across seem to be on the high side.

My suggestion is to place and ad in the Want To Buy (WTB) section of this forum, with a description off what you want and condition. Tell the potential seller pics will be required. Tell seller you want original. You can even ask for an N or S prefix.

For 1500, I would find a M27. Since most of these guns are not in the collectors circle, so I would not make a big deal about no box. Back in the day, we bought the gun, and threw the box away. None of mine have a box

 

[gfors]

As others have said, prices are all over the board. A check of closed sales on GB shows some really nice guns with all the goodies (box, dox, paper work original grips) for $800-1200. There are guns with non-original grips and no box for $500-900. As a real world example, I just bought a barely used 6", with non-original grips, for $763, OTD, locally.

 

[sodacan]

The revolvers in the left photo are both 1st year (1954) Highway Patrolman. I felt fortunate to get the 6" with a bid of $900 on GB a few months ago. No extra stuff, but all matching numbers. I had previous dealings with the seller, so I knew I would be getting a solid deal. The gun is in amazing condition, but I would not have paid $1500 for it. The 4" was bought a couple of years ago, and I paid a lot less for it. Great condition, but not as good as the 6". The 1967 28-2 is shooter grade, and one of my favorite revolvers, but certainly not worth $1500.

 

[cmansguns]

I just sold an honest one at an honest price on this Forum!

I just completed my selling of my S & W Magnums during the last couple months. I agree with Pete (Naragansett) that this Forum is the BEST place to buy OR sell quality Smith & Wessons.

You can list at any price you want, and take it from me, the Members will let you know if you are way out of line (no offers). If you are close to reality, you'll get offers of a tad less by PM, if you real close based on quality pictures condition...you'll get an "I'll take it" real soon.

I also agree that the Want to Buy is good sub-section too as sellers like me look often and depending on exactly what you want to buy...will respond. Example: IF you are looking for a nice 28-2, but don't care about box or docs, then say so. IF you must have collector grade with box and docs, say so.

My 28-2, 4" in my opinion 95% NRA, all original, no box, no docs, but with Factory Letter, and including shipping and full value insurance, just sold for $750 on June 30, 2021 to another Member here on the Forum. Both parties satisfied so the "true definition" of Fair Market Value.

If I were you I would pass the $1,500 one and look to this Forum or elsewhere. 100% higher than fair market value just to satisfy a LGS is way too much in my opinion.

Best of luck with whatever you decide.

 

[.38SuperMan]

I don't know your age or your finances but there are no more 28's being manufactured and none of the existing ones are going to be in better condition than they are today. Fewer and fewer will be available in near new condition every day. And what is the value of anything, it's what someone is willing to pay.

I've worked as a commercial and documentary photographer for 54 years (loved my work) and finally (99%) retired this year. I used Leica M series cameras through my career. In 1968 I bought my first for $250. They were discontinued about that time and today they'll bring upward of $2000+. Another a Leica M I bought 6 years ago and paid $700 for used now going for $3000. Quality guns are the same way. I bought my 28-2 4" new in 1978 and still have it with the box and paid $177 for it.

Guns aren't going down in price and nothing else is either.

I'm a cheapskate too and love a bargain but what a bargain is today changes by the day. When I'm considering something like this I ask myself, why did I work for 54 years? It's so I could have the things I want. I can't take that money with me when I'm gone.

Saying all that, I never go into debt. I never have deprived my family of things they need or want and I always paid my bills first. Then how badly do I want it and how likely will I find another this nice at a better price? What will the price be in a year or two?

I do have my limits though and have lived to regret passing on a few purchases someone on the forum said once and I don't know if he came up with this but " You never pay to much, you only buy to early".

 

[cmj8591]

I bought my first new handgun in 1975. It was a model 28, 6 inch. I paid $125 hard earned cash for it. ($642 adjusted to today's value) Around me, that gun would go in the LGS case for about $750 and would sit there for a long time watching all the M&P 9mm's go out the door.

 

[C3Ranger]

As always, great feedback and info from all who replied. I learn more every time I use the forum. Thanks to all!

By the way, this one is an easy no purchase for me.