fair value for a S&W 64-1 snub

I think the -1 means unpinned barrel. That makes it a bit less desirable. I, personally, would not pay that much. But I'm not looking for one. You have to decide what it's worth to you.
 
$500 may be a bit high, or it may not. Prices for the older S&W's are all over the place....and seem to vary A LOT in the different regions of the country. However, values of these guns are steadily climbing, over time.

One thing that can be said definitively. The 2" barrel version of the model 64 is more rare than the (common) 4" heavy-barrel version (most of which were police issue guns at some point). Not truly rare in the overall sense, but more rare than the average. So, the 2" version would probably tend to command a bit of a premium anyway.

I would offer $400.....but, if the gun in question is in perfect mechanical shape and very good to excellent cosmetic shape, I wouldn't balk at paying $500 - if I really wanted it.
 
Seems a little high, but a K-frame snubby is a sweet gun to shoot. I paid $310 and $360 for my two (both shooters, not lookers) a little over 5 years ago. If you don't have one already and it's in good shape, I say go for it.
 
Deaf,
I think it's probably a bit too high. I bought this -2 at an outdoor swap fest for $325 about 6 months ago. I see them for around $400 at the local gun shows.

Leftside64-2withT-Grips_zpscaa8d65b.jpg
 
In the circles I travel, if you were actively looking for a 2-inch Model 64 in fantastic shape, that price is not a steal but simply not out of line.

10's, 15's, 64's and 67's (and to a lesser extent, 13's and 65's) have been hitting the market in bulk over the last five years, all formerly issued duty guns. So their prices are softer than personally owned "normal" revolvers... But that does NOT include snubs, 2" and less. Even a 3" brings a premium over a 4-inch.

If you want that and you could get out the door for $475 after tax, I think you would have to call it a genuine win.
 
In upstate NY they seem to run in the $450 - $550 range, depending on the barrel and condition, So, $500 is about the ballpark.
 
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