Assuming the piece was in excellent condition cosmetically, there were no timing or lock-up issues ... I would pay that -- for my region, that would be a reasonable price as the nickel finish was discontinued in 1991, so you'd have a nice pre-lock, pre-MIM revolver.
Fjestad lists the 586 at 650 in 100% condition, add 5-10% for nickel and $4 for the WO rear sight.