S&W Model 15 - What's it worth?

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Nick_C_S

New member
Hi, I was at my LGS today looking for a Smith .38 for IDPA work. I darkened their doorstep with a new Model 67 in mind. But they didn't have any (last time I was there, they had two). But they did have a used Model 15 (like a model 10, but with adjustable sights).

It's a pinned, tapered barrel, and didn't have recessed cylinder charge holes (maybe S&W only did that with 357's?). I don't know how old it is, and the store owner didn't know either (it's on consignment).

Finish looked fairly good with no scratches that I noticed. There was considerable holster wear at the muzzle (which is fine by me). It had Pachmayr finger style grips, circa mid-80's.

I'm pretty sure the gun has been fired quite a bit. Cylinder lockup was fair. Trigger was smooth - very smooth, actually. Bore was very good, but not excellent. Single action worked great and would stay cocked when the hammer was pushed on by hand.

So what's it worth?
Thanks :)
 
[It]... didn't have recessed cylinder charge holes (maybe S&W only did that with 357's?).
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The only standard-production S&W revolvers with recessed (or counterbored) chambers are pre-1982 centerfire Magnums, and almost all 1935 and later rimfires; the latter includes today's production.

Recessed chambers were not normally used on non-Magnum centerfire guns. (I say "not normally" because the only hard-and-fast rule regarding older S&W revolvers is that there are no hard-and-fast rules. :) One learns not to use the word "never". ;))
There was considerable holster wear at the muzzle (which is fine by me). It had Pachmayr finger style grips, circa mid-80's... I'm pretty sure the gun has been fired quite a bit. Cylinder lockup was fair... Bore was very good, but not excellent.
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Re: the lockup- do you have much experience with older Smiths? They'll usually shoot very well with rotational cylinder play that would be alarming to a Colt owner. :) However, if the axial cylinder play is great enough that you can visibly see the cylinder move- i.e. it's more than just a hair- this is a red flag. The gun is probably fixable, but it will need the attention of a gunsmith before you put many rounds through it.

The "very good" bore worries me. Define "very good". :D

This is sounding like a ~$250-$275 gun to me, but M15 values are highly regional; some people report being unable to touch any decent example for less than $400 in their area, so YMMV.

Also, two caveats:
  • I assume it has the common 4" barrel. 2" guns command a 25-40% premium; other lengths are rare, and may demand a 50%-200% premium, depending on what it is.
  • I assume it's a M15-3 or later. The -3 and -4 are far and away the most common versions. OTOH the no-dash through -2 are significantly less common, and have climbed in value during the last few years.
 
Yes, "counterbored" was the term that escaped me. I had a hunch it was a magnum thing. They also had a model 19 (4") in there today that was counterbored.

Axial cylinder play was zero. The term in gearhead hotrodder lore it's called "thrust." ;)

The "very good" bore means it wasn't super shiny - it was mostly shiny, but some of the grooves weren't. But then, it may not have been super clean.

It is a 4" barrel - sorry, I failed to mention that :p

Yes, gun values are highly regional - especially in California. Older guns in Ca can only be sold on consignment. In the world of supply and demand, the market here is tilted toward demand - big time, especially regarding Smith revolvers. I chose not to mention that in my OP because I decided to factor that in for myself. I also chose not to mention the asking price as to not skew the responses.

The example M15 on GB is indeed in better shape. But - but - it's not in California; and can not be sold in California. So it's an interesting reference (thank you), but in a sense, it's an apples-n-oranges comparison.
 
In the world of supply and demand, the market here is tilted toward demand - big time, especially regarding Smith revolvers. I chose not to mention that in my OP because I decided to factor that in for myself. I also chose not to mention the asking price as to not skew the responses.
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I couldn't possibly agree more. There's just no way that most folks in this ballgame (if they don't also hang out in, live in, or deal with folks in California) would really have a clear picture of what that market is like.
 
I think a Model 15 is about the peak of S&W K frame development (along with Model 14 6" K38.)

It should make you a good IDPA SSR. All you would need to do is paint the front sight blade a contrasting color and get some grips that would fill the hand but still pass a speedloader.

If you wanted more refinement, the ramp could be machined to take a fibre optic sight, the chambers chamfered for faster reloads, and the action refined more than just well broken in.
 
If you wanted more refinement, the ramp could be machined to take a fibre optic sight, the chambers chamfered for faster reloads, and the action refined more than just well broken in.
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All of the above is my intention. That's why I'm looking for a non-classic, "expendable" gun, so to speak.

For instance, they had a M19 4" there too. And it was in better shape than the M15. But I feel it would be a sin to do the above things to a M19. I hold the M19 in reverence and couldn't possibly butcher one just so I can shoot IDPA. I wish I had the $'s, I would have bought it for "just because."

Back to the M15: The plan is to have the trigger worked. But it's already really nice. I have a hunch it's already been worked. Whatever the case, if I buy it, I may not have it worked - it's that smooth.
 
I just picked up a pre 15 and a pre 10 - both very nice. The pre 15 was made in 1955, the Pre 10 in 1952. The Pre 15 had a beautiful set of cocobolo contoured target grips on it - it melts in your hand. I'm loving it.

I am sometimes a little confused when somebody says I wouldn't pay more than X amount of dollars for a used 15 or 10 or whatever. I'm not opposed to them thinking that . . . but it certainly depends on where you are at. I am on the look out for Smiths all the time as I love 'em. If there are $200 or $250 Smiths out there, I'm sure not seeing them. With the horse trading I did on the re 15 and re 10, I have a tad under $350.00 in each of them. Both are nice and I'm sure there would be many who would balk at paying that - but i was tickled to death to get them. With all of the recent hoopla on guns, it sure seems to me like the values of used ones have shot up. I don't like it anymore than anybody else but that's the way it is and it doesn't look like it is going to go down much when everything shakes out.

I passed on a 10 - ? last winter that was pristine - looked like it was never shot. I've kicked myself ever since. They were firm on $350 and to me, it was more than what I thought it should be. Looking now and seeing what I've run across, I should have snatched it up in a heartbeat. I buy Smiths to shoot. Some of what I've run across have been rode hard and put away wet and they still want high $ for 'em.

I may have paid too much for the Pre 15 but it's worth every penny to me I like it so much. It's had very little rounds through it and when I'm no longer able to shoot, it will be passed on to someone who will ejoy it as much as I do I guess it all comes down to what it's worth to you.
 
You ask the value? It was for sale in a shop, right? How much was the asking price? I see them tagged at $350-$600. No idea what they actually sell for, though.
 
I wanted to wait for a few responses before I mentioned the asking price.

It was $525.

In order for it to be punching holes in cardboard silhouettes with me, the seller is going to have to be a little less proud of it. I can tell you that. That said, if you don't live in California, you have to know that whatever you think it's worth - add at least $100 to that figure. Old Smiths can't be brought into the state any more, and they are in high demand.
 
The nearest alternative would be a new S&W Model 67 stainless version of the old Combat Masterpiece. $622 at Bud's and importable into CA.
 
Being in CA prices on used guns will be inflated due to the importation restriction. Of course one 50 years old is C&R and exempt from the law, no?
 
In the condition you state, I would not consider paying $525 for a M15. The key item you mentioned was the lock up as "fair". I'd go with a new gun in your case.
 
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