Thats probably a fair price for a scarce 586 variant. Especially when you consider the asking prices of the current production revolvers.
I paid $650 a short while back for the matte black 686-3 with no box or docs. A similar scarce, short production run revolver.
Should I come across a 4 inch matte black 586-3 I would have no problem ponying up $700 to obtain it. Hope this helps. Regards 18DAI