I hate this: Python found at Pawn shop

[bikemutt]

I stopped into a well known local pawn shop today just to look around, I had 30 minutes to kill between appointments.

There under the glass is a blue 6" Python. I just about croaked.

They want $1200 for it and it was just put out today, they said.

I would rate the finish 96%. The action, lockup, timing and bore 98%. No evidence of flame-cutting. Judging by the slight amount of crud in cylinder chamber ends, I'd say more .38 special than .357 mags have been fired. It's got the plain black Colt grips, more like a hard plastic than the rubbery kind.

I've been pretty hard pressed to find any Pythons online for under $1200. There is a local one I looked at for $1000 but it had been refinished and had the snot shot out of it.

I'd never handled a Python before, it was simply, heavenly.

Any thoughts on whether this is a decent deal, a pass, a steal?

If it's still there and I go for it, I probably would have to sell/trade my very mint 29-2 8-3/8" barrel to make room in the bank account. I don't shoot the 29-2 much owing to high ammo price, it's more a safe pet that I hope will be worth something more someday.

 

[earplug]

Reload for the M-29-2

Buy a simple reloading set up and have fun with the M-29

 

[rcmodel]

They want $1200 for it

Then they have less then $600 in it on the pawn loan default.

Go back with a handful of $100 bills and lay 8 or 9 on the counter and see what develops.

rc

 

[highpower]

When was it made? Earlier Pythons had wood stocks and the later guns had rubber grips. If it turns out to have the wrong grips on it plan on another $200+ to buy the correct ones. So the question you have to ask is: is a 96% python worth $1200 (or maybe even $1400 if the grips are wrong)?

I personally don't think so. To me it would be more of a $900 gun. However, prices in your are might very well be higher and it could be worth more in your local area.

I just purchased a 98% Python a few months ago from a local gun store for $875 OTD. It is missing the correct stocks so I will have to put another couple hundred into it. I will easily have $1100 or so into it before I'm done.

1964 Python (the "marks" on the barrel are dust)

 

[rehorne]

+1 On what RCModel said. $600.00 is probably pushing it on the pawn to loan default.

 

[bikemutt]

Education moment please: what is a Pawn Loan Default?

I'm sorry to be ignorant of the term, I've only ever bought stuff at pawn shops, so far at least.

 

[rcmodel]

You take a gun, or watch, or diamond ring, or skill saw to a pawn shop and pawn it.

That means the pawn shop loans you some money and they keep your stuff as collateral for a set period of time.

Then when you come back with the money they loaned + Mafia rate interest?
You get your stuff back, and they get more money then they loaned you.

If you don't come back with the money + interest in the set amount of time agreed to?
They keep your stuff and sell it to get the money they loaned you, and a whole bunch more.
That is what a defaulted pawn loan is..

That basically is what a pawn shop does to stay in business.

As I said, if they want to sell an item for $1,200?
They probably only loaned the guy 1/4, 1/3, or at the very most, 1/2 of that.

rc

 

[skidder]

rcmodel-- has some good advice about the Franklins. Slap down 8 or 9 Benjamens and see if the pawn fishes start jumping.

 

[vicdotcom]

Education moment please: what is a Pawn Loan Default?

I'm sorry to be ignorant of the term, I've only ever bought stuff at pawn shops, so far at least.

Pawn loan default is the amount of money that the Pawnshop loaned out on that firearm. So lets say someone pawns (takes a loan out on) that Python, the pawnshop will only loan out enough where they can still sell the item and make a profit. So they did not loan out 1200$ on that python but about 600$. Then if the person doesn't pay the loan back, they default on the loan and the shop keeps the item.

But at the same time, it is highly unlikely (unless you are known to the pawnshop owner) that they will drop the price much if the item just hit the showcase. Usually it needs to "sit" at full price for a few months in case someone does want to pay full asking price for it. The longer the item sits unsold, the more willing pawnshops are willing to drop the price. But hey it is worth asking LOL

 

[rcmodel]

The other thing is, times are tough all over.

Many pawn shops are loaning out more money then they are raking in on default loan sales.
In other words, a cash flow problem.

Like I said, maybe that Python is burning a hole in the owners pocket and he would rather have some quick money to pay the rent this month?

You never know until you try it.
All he can do is laugh at you, or take it.
One or the other.

rc

 

[DC Plumber]

DON'T DO IT!

I used to be infatuated with Pythons. A 29-2 8-3/8" is more gun than that python could ever dream of being, in my opinion.

If you want a .357 that will hold up to shooting and look and feel good, get yourself a beautiful 586 for 1/2 the money.

Just my opinion though.

 

[vicdotcom]

The other thing is, times are tough all over.

Many pawn shops are loaning out more money then they are raking in on default loan sales.
In other words, a cash flow problem.

Like I said, maybe that Python is burning a hole in the owners pocket and he would rather have some quick money to pay the rent this month?

You never know until you try it.
All he can do is laugh at you, or take it.
One or the other.

rc

Very very true. Can't get a good deal without asking! Worst they can say is no.

 

[bikemutt]

I tried 'em on a 27-2, turns out it's on consignment, they wouldn't budge, fair enough.

Thanks for the lesson BTW, now that I have my pawn shop diploma in hand, I may just lay down a few green ones to see if I can shake 'em loose on the Python.

I'm so glad I asked here, thank you all.

 

[gamestalker]

+1 on getting a basic reloading set up and keeping the M29. I would like to say I have nothing against Colts, but that wouldn't be the truth. That 29 will out live that Colt, even if you shot nothing but full house magnums through it. S&W's have just as sweet actions as a Colt does.

 

[shiftyer1]

With luck they have 6 or 7 in it, alot of pawn shop employees are ignorant when it comes to guns and you can get upside down pretty quick. Also if it's a mom and pop shop you'll have better luck dickering, corporate shops have very strict discounting guidelines. If I had a python in my shop i'd probably sit on it for a little while, maybe a month or 2. If you don't want to pay 1200 and they don't take your offer decide what you want to pay and leave your name and # with the employee. Odds are he works on commission and would sell it to you for whatever u offer but he has a boss to answer to. Good luck

I've never shot a python but have handeled several and I love the bluing on them.

Just read your post saying it's a consignment, nothing I said applies except leaveing you contact info with your offer.

 

[bikemutt]

Just read your post saying it's a consignment, nothing I said applies except leaveing you contact info with your offer.

shiftyer1, they own the Colt, it's a Smith 27-2 they have on consignment.

He flat out told me today I was dreaming about a deal on the Colt.

How I see it is I have time, cash and patience on my side

 

[shiftyer1]

Patience is the key, I wanted a marlin .357 carbine and a ruger security six and several others REAL bad. I waited until I found one at MY price. I wasn't so patient to find the first 4 guns I felt I needed. Once you fill what you feel you NEED, the wants fall into your lap if your patient.

 

[CajunBass]

He flat out told me today I was dreaming about a deal on the Colt.

That's because he knows that sooner, rather than later, someone will come along who won't mind "paying too much" for it (I personally like to think of it as "buying too soon"). They don't turn up every day, at least not around here.

There was a time when I said I'd never pay $1000.00 for a gun, any gun, but once that barrier was broken (and it was), it's not as hard the next time.

It's really just a matter of how bad do you want it.

BTW. That would be a good price for a Python around here. I'd try to dicker as best I could but I don't know if I'd let it get away or not.

 

[GP100man]

I`m for getting the reloading set up for the 29

I feel that the 44mag is the most versitale cartridge that there is , down load it to hunt squerrils, load up to shoot grizzlies, it`s been in handguns of all sorts ,in rifles ,carbines to long barreled bolts.

 

[whalerman]

If you pay too much for it, you can wait another year and simply make up the money you lost when the gun appreciates. If you nickel and dime 'em, you'll lose the deal. Takes your pick. Do you want the gun or not?

All this hagglin' crap makes no sense to me on a gun that just keeps going up and up and up in value. What do you think they're going to sell for in a couple years? Sheeesh.

I have 5 Pythons. None are for sale. I paid too much for three of them. 15 years ago. Ha.

 

[Geneseo1911]

I think I'd rather have the 29 in all honesty. It'll blow your head clean off.

 

[jspence]

The Pyton

Try this - ask what comes with the pistol. Does it have the original box? Does it have the original paperwork and tools? Does it have the original grips?

If any answers are 'no', then tell them each 'no' reduces your interest in the pistol and their $1200 price.

Tell them your are really looking for a different barrel length anyway.

Take some GB or GI ads in to show them what's available elsewhere.

Be nice during all of this haggling .... if still at an impasse, thank them and
leave your name and number and ask them to call you if anything changes.

Maybe you don't get this one, but there are a lot of fish (pythons) in the sea.

AND they may call when ANOTHER python comes in ...

 

[tuckerdog1]

I have a friend with a beautiful Python. It's buttery smooth to shoot. But I've owned 2 early model 29s ( wish I still had both ). I'd keep the 29,no question.

Tuckerdog1

 

[Guillermo]

as one that owns several "snakes" including a python and well as several smiths (2 686's live at my house).

The goal of owning a python is a good one. VERY GOOD. Ignore all of the "don't ever shoot it or it will break" bullsqueeze. I shoot full power .357s every time I go to the range. ColtPythonElite does the same. It is best to get an early model. By the late 70's the wheels were falling off the bus and the guns became a crap shoot.

1200 bucks is, in my opinion, a premium. Yes...I know it is "market" but the market is inflated right now. If you are patient, you can find a deal. Keep some cash handy and wait for someone who needs it fast.

And BTW...once upon a time Smith & Wesson made fine revolvers. An early 27 is a joy to behold. While a heavy, this ultra premium N-frame is also truly amazing. Many learned people consider it the finest revolver ever made.

Also note that early 686s are fine revolvers. But it is analogous to a Toyota Camry. Dependable, well built and reasonably priced. It was built for patrolmen and security guards to be able to afford. Nice guns but not a "Lexus".

 

[cyclopsshooter]

[QUOTEThen they have less then $600 in it on the pawn loan default.

Go back with a handful of $100 bills and lay 8 or 9 on the counter and see what develops.

rc][/QUOTE]

not always.. pawnshops buy guns outright too. if they did they might have as much as 8 or 9 in it