Smith and Wesson model 28-2 value going up?

M

more_bullets

New member
A few years ago I bought a 28-2 highway patrolman for $550 out the door. I love it so much that I thought I'd find another just like it! But it appears now a model 28 goes for 700-900 bucks! Is this the going rate now? Or are these people out of line?
 
I bought one two years ago with original box and tool for $500. That was to replace the one I sold for $200 years before.

Demand is up for all guns last few years, but $700 seems OK, lots of $800 revolvers around here.
 
Yikes, I paid $425 for mine 4 years ago. Glad I got it when I did!

$800 is starting to push it, because for a little more S&W Model 27s can be found.
 
On gunbroker.com they have been trending a couple hundred higher for the past year or so, while model 27s have been down a bit. Not sure what's caused the flip-flop but hang in there and keep watching.
 
The value of all first quality revolvers (Colt, S&W, Ruger) has gone up dramatically over the last 10-15 years. I paid $250 for my M28-2 at a pawn shop 10-11 years ago and, after a roughly $350 trip back to Springfield (trigger stud replacement, recutting the forcing cone, and refinishing the revolver), I figure I've still got about the same as current market price in the gun.

I first noticed the upward trend in revolver prices with my 2 1/2" M66-2, for which I paid $360 and felt I paid a fair, though not incredible, price. Just a couple years later, I noticed that comparable revolvers were selling for $600 and up :eek: My theory is that the price of revolvers was artificially depressed for many years by the flood of police trade-in wheelguns. Those started drying up 10-15 years ago and, ever since, revolver prices have been creeping up. The oft-repeated advantage that a revolver costs less than a comparable quality semi-auto, in my experience, no longer holds true.
 
In my area ....the model 28's are up / and what you're seeing seems about right..../ model 27's in my area are up significantly more than the model 28's..especially in Nickel.

But condition is everything !
 
I believe part of the reason for the Highway Patrolman's (Model 28) popularity is its ability to be converted into a nice .44 Special or .45 ACP. The Model 28 is sought after as a project gun.

Bob Wright
 
My theory is that the price of revolvers was artificially depressed for many years by the flood of police trade-in wheelguns. Those started drying up 10-15 years ago and, ever since, revolver prices have been creeping up. The oft-repeated advantage that a revolver costs less than a comparable quality semi-auto, in my experience, no longer holds true.
Click to expand...

Excellent theory. And I was thinking the same thing about quality and price for revolvers and autos. 8 years ago you could get an excellent quality revolver like a Ruger Six for $250. Today, something like the S&W SD9VE at as little as $280 seems to be the best value.
 
I got my s&w 28-2 w/ the original box and grips for 500 otd, gun is lnib.. I bought it to shoot the hell outta it, I'm not really worried about degrading the value. If it was a registered magnum, then I'd think twice.
 
700-900 bucks! Is this the going rate now? Or are these people out of line?
Click to expand...

In a word NO.

Smith and Wesson made the model 28 to be the working mans .357 Magnum revolver, and they succeeded with that one. Now everyone who likes N frame .357's wants one or more of them. So the demand is out stripping the supply. Remember if you buy a 95+% condition for $700.00 today in 12 - 18 months you will glad that you did.
 
I've noticed M28 prices going up as well. I saw an unfired M28 in the box go for $900 recently in the classified section of the S&W forum. I assume it's because their not making anymore, new buyers coming to the market looking for older guns to "invest" in, etc.. Just like old cars, as the popular stuff gets priced out of sight people start buying other years and models that nobody paid any attention to before and it's not too long before prices on them are going up, too.
 
Value depends on the point of view of the buyer, and demand varies in different areas. In my neck of the woods, the ASKING price has gone up a lot, lately.

I sold two in the last couple years, for about $550-600 each. Guns at the same show, priced $700+ were still on the tables at the end of the show...

They don't make them anymore, so price is what the seller wants, but if you look around, you can still find some below "stupidly" high prices.
 
Quality revolvers are increasing in value. Every S&W I own is now worth more than what I originally paid for it. Problem is, most can not be replaced for what I originally paid.
 
Yeah, everything is worth whatever a buyer is willing to pay for it, hell, I gave $1250 for my Krebs Custom M28 a couple of years ago but when I saw it I had to have it, it was just a matter of what I was going to pay. I'm guessing that's probably as much as has ever been paid for a M28 (a dubious distinction if ever there was one), however, it looks like it won't be long before that price is eclipsed by somebody buying an original.
 
You must log in or register to reply here.
Back
Top