Price check: Colt Mustang Mk IV Government

I have the opportunity to buy a Colt Mustang Mk IV Series 80 Government and I'm wondering if I should. It's in excellent condition with very little wear to the bluing but the grips have been replaced with what appears to be Pachmayr Sure Grips.

The asking price is $550, is this a good price? It comes with a holster and I believe one extra mag.

I just did a quick, unscientific search on Gunbrokers closed auctions for the gun you are referring to. There are several examples to choose from, and it appears (again from a quick glance) that many/most of these sold somewhere between 450-550. NIB examples, bi-tone finishes, etc seem to sell for more. If you log on to GB you can do a similar search which may help you determine if it is a good deal. The holster and extra mag are a nice plus, depending on what the holster is (is it a 75 Bianchi or a 15 dollar Uncle Mikes, etc).

I'd say it's a good price. Just a couple years ago people were getting $800 for these. The Sig P238 and now the new Colt Mustang (not quite on the market yet) have dropped the prices. They are no longer collectors items, but still good shooters at that price.