Discussing a S&W in this price range is like discussing whether a Bugatti Veyron is worth $2.5MM. For the vast majority, it is a vicarious experience. We enjoy talking about it just as we enjoy the "what if-" of the PowerBall lottery. Obviously, there are some who can realistically purchase both the Smith and the Bugatti or they wouldn't sell.
In the case of the Veyron, a good number seem to end up being wrapped around a sign post by a teenage rock star or a rapper. Sure hope that isn't the fate of this beauty but I doubt that any of us will see it lying on the concrete table at the gun range.
Bob
I accept your analysis as being basically true. But I'm not sure it is. I agree with you because we read on a weekly basis about some poster who just can't bring himself to lay down the coins to buy a $600 beauty. In most cases its a general production firearm, one of thousands almost identical to it. I have no idea if its poverty, or maybe common sense and the desire to buy his wife a new dining room instead. Maybe the guilt if he spent that money on "himself".
We don't all view things with those glasses. Buying a gun that you could shoot but honestly don't plan on is a different matter. None of us have much of a clue about the next guys finances. Well, except we see some outstanding examples time after time by the same guys.
Another view. In todays mail we received a monthly statement from Stan Morgan and Barney Smith. And I looked at the portfolio total and the monthly change. Pretty sorry. Just like its been this entire year. If I draw any out of that account, I'll be relegated to paying the IRS a big chunk of it because it was pre tax dollars. And from that one account, I could have bought 8 of those fine revolvers. I know, IRAs generally can't own handguns. But there is little doubt in my mind that had we been able to when we made the initial contributions to it, the handguns would have been worth a bunch more today.
And it wouldn't require all the financial expertise of their experts to make the decisions. My bet being that if 8 or 10 years ago I'd just bought the highest priced S&Ws that David Carroll or Lee had on their tables, oiled them real good and salted them away (you salt pork bellies, not blue guns), the value today would be significantly higher than the stock market prices we're seeing.
I still read the WSJ and all the articles about the FED pumping the economy and printing money as fast as they can. It comes to mind that just maybe they aren't printing Pintos or engraved examples of RMs these days.
I know I'd be wrong to say everyone here could buy that gun if they really wanted to. But I'm guessing a huge number could if they put their mind to it. They're just too conservative or beaten down to do it. Many of us purchase a new car or truck every so often for at least that much. Yet because its a luxury we hesitate. And knowing good and well the car or truck will be worth just a tiny fraction of what we paid a decade into the future. Might be because we drive the car or truck and put the gun away.
Then I think I'm not going to live forever. I can hold a nice gun in my hand. The brokerage statement is just ink on paper, mostly fiction.
Then to add to the confusion, a question. Jim Fisher, have you fired your short barrelled 3rd model target? Yours is much nicer than mine, but I've fired mine (yes, I cleaned it as best as an old man can.)

Guns that nice cry to be taken outside one time, just so you can say you did. And laugh at those who don't believe you.
I'm going to guess the difference we're talking about is the reason we purchase and investment grade gun. Those guns almost always increase in value, usually well beyond the rate of inflation. Surely well beyond a shooter grade gun can be expected to do.