S&W reg 357 magnum 1938 value

[SRYSandan]

My father in law just passed away and I am trying to help with a ball park figure on his revolver.
I have a S&W factory letter from Roy Jinks. The gun was shipped in December of 1938.
6.5” barrel
King 1/8 inch red ramp on reflector base front sight
King No. 111 rear sight
Hump back hammer
Blue finish
I am just looking for a ball park number before my mother in law takes an offer from a dealer. Not trying to sell it or hold anyone responsible for their info or opinion.

I am a shooter not a collector but would hate to see this leave the family or for mom to loose out.

Thanks in advance

 

[kryten67]

RM on Gunbroker

Hello SRYSandan, I recently witnessed a Gunbroker auction result around 5,000.00 Condition was a little better than yours but it will give you an idea. I Like your Revolver and wish you the best on getting it sold. You will get lots of responses.S&W .357 REGISTERED MAGNUM # 1493 HISTORY LETTER PICTURE BOX 49619 - Revolvers at GunBroker.com : 878550654

Everett Briggs

 

[DWalt]

Best that you publish some pictures first to show its condition for a good value assessment. Would also be good to publish the letter. That is an extremely desirable handgun, and its selling price could go well into 4 digits. You might consider listing it on this forum, or one of the online gun auction sites rather than selling to a dealer. You will realize much more.

 

[Babysitr]

If it were mine, I'd let a couple dealers make offers on it as a baseline...then post a bunch of pictures here, and you'll find what its really worth....then let mom sell it to you, for a price she decides upon...

 

[andy52]

Sounds like a nice RM but as stated we'd need to see some photos to ascertain condition. Trying to sell it to a dealer probably won't get you the best price.

 

[tlawler]

Best that you publish some pictures first to show its condition for a good value assessment. Would also be good to publish the letter. That is an extremely desirable handgun, and its selling price could go well into 4 digits. You might consider listing it on this forum, or one of the online gun auction sites rather than selling to a dealer. You will realize much more.

I echo Dwalt’s assessment. Do not take it to a dealer. Post pictures of the gun, all accessories, and the letter and let some real experts(not me) give their knowledgeable opinion. This is one of the most desirable and collectible S&W’s out there and with all accessories and pristine condition, given as a best case scenario, it could be worth in the $5K range, I think. It’s good you had the wherewithal to seek out this forum and ask about it before any regrettable decision was made.

Oh, and welcome to the forum. First post inquiring about a RM is a sure fire way to get our attention!

 

[Wiregrassguy]

Welcome to the forums from the Wiregrass. Yes, please post some pictures. Also pictures of the box or any accessories that you have. All those add to the value. If it's a shooter it might only be worth $5,000 but if it's collectible oh, well let's just say the sky could be the limit.

Guy

 

[mrcvs]

Your Registered Magnum revolver, if it is in the 95% range, is likely worth about $5000 to $6000, probably closer to $6000 than $5000. If it has an original box, add a grand. If THE original box, paperwork such as the registration certificate, the card to register the revolver, the original shipping box, or other unusual features, add even more.

Registered Magnum revolvers have certainly not lost any value recently, but the valuation has been flat the last 2 or 3 years. The decade prior to this, they were quite the blue chip investment. Some years, a 10 to 20% increase was not at all unusual.

Should you elect to sell it, I would post in the Classifieds section of the forum. I, and several others, will surely be interested.

 

[mrcvs]

I did not see this similar but almost identical thread. The Woodlawn Boys Registered Magnum with box sold for $5744. Woodlawn Boys tends to get top dollar, and this sale price seems curiously low, especially with LEO history. As I said, add a grand for the box, so this suggests that the revolver itself is worth $4500 to $4750. Curiously low, unless valuation, unbeknownst to me, has dropped 10 to 20%. Seems highly unusual in these preelection days with uncertainty as to the victor and where, everywhe else, anything with a trigger is selling like hotcakes.

 

[mrcvs]

Reassessing the Woodlawn Boys listing, maybe NOT curiously low, bit right where it should be. Was described as EXCELLENT, but finish is frosted at end of barrel, turn line evident, wear to butt, etc. A nice gun, but certainly not EXCELLENT. That little distinction, as described, is a 1 or 2k difference.

 

[mrcvs]

And here is my Registered Magnum revolver. It has a very rare feature, that being the lanyard ring. Rare, yes, but what value, if any, it adds is debatable.

 

[Art Doc]

Sorry for your loss. Must have been a cool guy to have a revolver like this one.

No original box? Adds a lot.

Just need a number I'd say $6,000. Might bring more, might bring less. Things get funny with RMs at times. Looks really good but 6.5" is the most common barrel I think. Rare ones bring big bucks.

 

[Art Doc]

Get real guys. 99% of dealers would have no idea what that is and call it a Model 28. Offer would be $200.

 

[Kinman]

Welcome aboard...Beautiful revolver. It would depend on your relationship with your MIL, if she needs the money and you want to help follow the sage advice of this forum. There are few dealers that will give you a truly fair price, those that know what you have will usually try to take advantage of you. I trust very few dealers and feel fortunate to count the few I do as friends.
If your MIL does not "need" the money and your relationship is not all that great, take it to just about any dealer or two, get an offer...take it back to your MIL and offer her a schosche more than the dealer and keep it for yourself. It appears to be a very nice "shooter grade" piece with a common length barrel, you will not likely ever come across a better shooter. I like shooting quality stuff, can't beat a reg. magnum for quality.
Part of the reason so many were sold to "common" folk during hard times was the fact that many people believe in paying a bit more for quality. You can buy quality once or replace cheap more often. I'm in the process of trying to wear out a couple quality Smith and Wesson firearms, haven't succeeded yet.

 

[DWalt]

Even considering the slim possibility that a dealer knows what it is and what it's worth, he wouldn't offer any more than about 50% of that for it.

 

[Thinnes]

You’re right. Keep it in the family if you can. How long did he own it? Based on the pics, which aren’t too clear, I would say $4000 to $5000. I also noted weak selling prices for the last couple RMs. Many of us here would love to have it if MIL needs to sell. Dave

 

[mh51]

Welcome aboard...Beautiful revolver. It would depend on your relationship with your MIL, if she needs the money and you want to help follow the sage advice of this forum. There are few dealers that will give you a truly fair price, those that know what you have will usually try to take advantage of you. I trust very few dealers and feel fortunate to count the few I do as friends.
If your MIL does not "need" the money and your relationship is not all that great, take it to just about any dealer or two, get an offer...take it back to your MIL and offer her a schosche more than the dealer and keep it for yourself. It appears to be a very nice "shooter grade" piece with a common length barrel, you will not likely ever come across a better shooter. I like shooting quality stuff, can't beat a reg. magnum for quality.
Part of the reason so many were sold to "common" folk during hard times was the fact that many people believe in paying a bit more for quality. You can buy quality once or replace cheap more often. I'm in the process of trying to wear out a couple quality Smith and Wesson firearms, haven't succeeded yet.

Can't agree with you on that!! Either be honest with the MIL and get her a fair price (no matter what you think of her), or stay out of it completely.

 

[mh51]

Based on your 2 pics (and with no box, tools, or other documents other than the letter) I'd have to guess in the $3500-4000 range. Hope you can keep it in the family, but good luck no matter what you decide.

 

[clang444]

very nice.

How many PMs do you have with offers to buy it?

 

[Thinnes]

Under the right grip, you will find a Serial number inside the grip. Is it the same number that appears on the butt of the grip, on the rear of the cylinder by the chambers, under the ejector star, inside the shrouded extractor rod housing (under the barrel), and on the back of the yoke arm (you’ll have to look thru a chamber hole with a magnifying glass) ?. In other words, is it numbers-matching? That detail is very important in deciding value.
It’s ok if the grips don’t match, but my guess is they do. Big loss in value if the cylinder or barrel don’t match.