I think that at that price, it's not a TREMENDOUS risk simply because it's just not a lot of money for a handgun. But it has also been my (admittedly limited) experience that old Colt revolvers are designed in such a way that the cylinder timing simply wears or retards and these guns seem to be far, far more likely to be somewhat out of time - or go out of time. Sometimes it's merely a bit, and a timing snob like me gets bothered by it, but for most functional purposes, it's not "dangerous" or unshootable.
When you pull the trigger double action in any normal or swift manner, the inertia of the cylinder makes up for slight variances or slight failures in the timing. Cocking it abruptly with the hammer to shoot single action does the same thing. It either masks a slight timing issue or it simply "automatically corrects" the slight issue, but it doesn't change that there is an issue.
You have just no way whatsoever to know how well the timing works in this one and the seller stating that it's a consignment is kind of his way of saying he knows just as much as you do.
Very little.
It sure looks nice to have a price like that. There are people who can adjust the timing on Colt revolvers... you may be one of those people in fact, and you simply haven't learned it yet.
I do think that if you walked in to a gun store or gun show and found that one, and it looked that nice (although the pics aren't telling the whole story)
and the gun was functionally perfect with perfect timing?!
No way would it be tagged for the first $275 thrown at the dealer.
I think if you've been thinking about wanting to own one of these and you've got the guts to buy an old gun that you can't personally inspect, this would be a decent chance to try doing exactly that without spending a huge pile of dough. I certainly hope you update this thread if you do it!