How to value an Altered firearm.

[Dpmsman]

I had a friend approach me interested in selling a Smith and Wesson triple lock 44 special a while back. The price he was asking seemed reasonable at $3500. He sent for a letter from Smith and Wesson for it and When it came it was found that the rear drift adjustable sight and grips are not original. The revolver is in very nice shape but has a few alterations to it. A nice triple lock is one of my bucket list guns. But not sure if I want to spend this much money on a gun that is not original. As to value what is something like this worth? Any help would be appreciated thanks.

 

[Dpmsman]

Copy of the letter.

 

[Bret4207]

That's a toughie. It's altered, missing the original grips, box, etc. I'd research what a factory correct model in similar shape is going for at the auction sites. That would give you better idea of value. I wouldn't use the Blue Book for a price.

 

[RicinYakima]

Then figure out what a restoration company, like Turnbull, would charge to make it "right". The difference is what it is worth, other than a shooter.

 

[Brad]

A couple things to ponder.

Are you a shooter or a collector?

Never forget that an item is worth whatever someone is willing to pay for it.

 

[Ian]

Never forget that an item is worth whatever someone is willing to pay for it.

My late FIL left behind quite a collection of guns that he bought for "investment". Most all of them were either in relatively poor condition or had been altered/refinished/bubba'd, so only really valuable from a user's standpoint. I just about cried when I looked up the Winchester model 42 he had....would have been worth about $4500 except he had Briley thread it for chokes and Speedbump put an adjustable buttplate on it. Now it's more useful
.....but worth about $300 or whatever someone will give for an old 90% pump .410.

 

[358156 hp]

A friend of mine has a Colt Official Police .22 Target Model. With a Kings Conversion. Kind of a rare base gun to start with, and a full Kings Conversion with the exception of the cock-eyed hammer. I believe it has everything else. So he carefully cleaned it up and took it to auction at Rock Island who were unimpressed with it, and told him the base OP 22 Target would have been worth more. Now this gun is beautiful, but they wanted to start it out low, so he brought it back home instead. It's now in the dead pool. The last survivor of our group gets it. Bummer! I'm the oldest of the group by far. In the right group, this revolver would have considerable value.

 

[Dpmsman]

The strange thing is that he believes it is all original. Am I miss reading the letter from Smith and Wesson? It says that the revolver was shipped with gold monogram grips and the rear sight was added later. I know there was a few revolvers made for the Bisley target shoots in England that had a drift adjustable rear sight like the one on this gun. But where they put on later or on at the factory? I would assume at the factory right?

As far as being a shooter or a collector I guess I try to be both. I do like to shoot my guns but generally I buy firearms with the intention that they would go up in value someday.

Also it’s a little hard to research this revolver because there aren’t that many around. It’s not like looking up a 686. Which is some of the appeal to me.

 

[RicinYakima]

That is not a 1904 -1915 S&W adjustable sight. It is a piece of metal cut into the frame and the forward part cut away. I'm sorry, it isn't collectable the way it is.

 

[Pistolero]

Collector value is generally very seriously reduced by ANY modification that cannot be instantly,
invisibly reversed, such as changing back grips.
Refinishing is generally a huge loss in value unless the gun was near junker status to begin with.

And Brad nails it perfectly, "an item is worth exactly what a buyer will pay for it".

Bill

 

[Bret4207]

It all comes down to what the buyer wants. I would balk at the price, but maybe it's worth while to you. What do YOU want to do? Thats the question. If you are going to shoot it, that's one thing. If you're buying an investment, that's another.

 

[Wiresguy]

That’s a pretty nice old shooter. The fellow who had the sight work done was likely a serious pistolero. I can imagine that gun with a set of Roper grips and it would be a pleasure to shoot.

I do like S&W’s but have not paid much attention to the Triple Locks, preferring newer guns (Post WWII to 1980). My guess as to value as it sits is in the $1500 to $2000 range, but that is only my opinion.

Here is a link that discusses the windage-adjustable rear sight style:

Stationay leaf blade rear sight. Big effecct on collector value?

I have been running across quite a few older 1905s, regulation police, even a 44 H.E. lately with service sights that have a thin leaf placed in a miled slot on rear of standard service sights. I beli

smith-wessonforum.com

 

[Dpmsman]

Thanks for all the replies! Wiresguy, thanks for the link that was very helpful. Based on what he told me Originally I said I was going to take the revolver. But after reading the factory letter I think I might have to back out. Something I don’t care to do since I consider my word my bond. Unfortunately I guess I jumped the gun punn intended.

 

[Bret4207]

Talk him down in price?

 

[Ian]

I'm with Bret, if you still want it as a shooter. You may have done him a favor having researched value further, unless he's just looking for a sucker.

 

[Charles Graff]

Sooner or later, you can pick up the right grips, but the lack thereof should know the price down several hundred dollars. It's value as a prime collectors piece is destroyed by the rear sight. Even if Trurnbull or Tyler restored it, it would still be a restoration and not an original. As a shooter, I should think the value would be knocked in half. If you want it as a collector's piece, you should not touch it.

 

[Charles Graff]

If you just want an old 44 to shoot, there are other ways to go. I picked up a 1933 2nd. Model HE a few years back for $225.00. It has been over bench at Micro and had their front and rear sight, checkered wide spur hammer and checkered trigger. All the parts were marked Micro and the backstrap was also checkered.

 

[Dpmsman]

Charles, that’s a neat revolver. Did you have the work done or did you buy it like that? I’m going to call him and see what he says on price but I doubt he will go down to far. I guess a person has to look at it this way. There’s always another one!

 

[Charles Graff]

Charles, that’s a neat revolver. Did you have the work done or did you buy it like that? I’m going to call him and see what he says on price but I doubt he will go down to far. I guess a person has to look at it this way. There’s always another one!

I bought it that way at Nagel's Gun Shop in San Antonio. The work was done by Micro, now long dead.

To be honest, I have never believed the hype about the New Century/Tripple Lock revolvers. They are just another pre-war 44 Special, certainly not worth (to me) the prices they bring. I am a shooter and not a collector. The 2nd. Model Hand Ejectors are much more common and much cheaper and shoot just as well.

 

[Bret4207]

The Triple Locks represent a different time and different values to me. It's sort of like the old cast bench levels and some old metal planes. They could have just made then plain jane and they would have worked just as good for a lot less money. But they added decorative touches that made them nice to look at too. Smith and Colt didn't need that "mile deep" blue to sell, it was just the right way to do things. Same with the idea behind the Triple Lock. Quality all the way. I've only ever held one in my life and it wasn't anything special as far as condition. I still wanted it.