How much for a 1905 S&W 38 spl NRA Fair?

[KodeFore]

I know someplace with a great deal on a 1905 S&W. The finish is mostly gone, hence the low price tag, but the gun appears to be in otherwise good mechanical shape. The shop owner ( a certified gunsmith ) says the gun would be safe for shooting standard 38 sp with cowboy loads working best and NO +P ammo which seems reasonable

How much would such a gun be worth, and does it have collector value?
Would a do it yourself bluing Job affect any future Value?

Also has a colt police positive he is asking around 350 for this gun has a nice finish and he says its from a Hong Kong Police dept Is this a good price, or just average, would this gun have potential collector value?

Thank you for any information

 

[Old Fuff]

Smith & Wesson .38 1905 Hand Ejectors (Military & Police) revolvers were made frpm 1905 until 1946. That covers a lot of ground and a lot of differnt values. They are not rare nor scarce guns, and from a collector's point of view original finish is important. So far as shooting is concerned, a fine finish doesn't make for any better shooting, but it may indicate the gun didn't have an easy life. That said, little original finish on a revolver made during the early days of the 20th century is a lot different then a similar loss on one made during the late 1930's or 40's. In any case they usually make great shooters if you're willing to stick to the lighter loads your gunsmith recommended, and the lockwork is fited like a fine watch - something you don't see today. For better information you need to post a serial number (found on the gun's butt, and include any letters as well as numbers that might be there).

So given the gun's condition I wouldn't worry about collector's value nor refinishing it. It could turn out to be something special, but I doubt it. Buy it as a shooter and example of gunmaking we won't ever see again - if you buy it at all. Keep in mind that people buy older guns on the basis of how they look, and the seller will have to put a low price on this gun to move it.

The Colt is also a good one - as a shooter, but not so much as a collectable one. I expect collector interest will increase now that the model is discontinued, but increases will come slowly. $350.00 seems to me to be at the top end of the price scale, but if he'd come down to $300.00, and the gun is truely in mint/like new condition, it might be interesting. Otherwise no.

 

[Will5A1]

The above two revolvers are both ex Royal Hong Kong Police, note the markings on the backstrap (RHKP followed by a 4 digit rack or badge number).
The Colt, if RHKP, will be in .38 S&W as opposed to .38 Special - if you are buying it as a shooter keep in mind that .38 S&W ammo can get pricey if you don't reload. To second and add to what Old Fluff said, that is too high a price, the top revolver in the above picture, a well used example Colt Positive, cost me $200 at the OGCA show a couple months ago.

 

[KodeFore]

Thankyou for the info, I appreciate it. The old Smith sounds all the more tempting I currently reload for 38 and I am hoping the the plinkers I load up will do fine ( 125 magtech SJSP pushed by 3.5 IMR700x)

I am keeping a lookout for a good deal on 38sw dies for the IverJohnson safety hammerless I shoot once in a great while. ( I really wish LEE made one of thier classic loaders for that one )
For now I can get reloaded 38S&W at gun shows pretty reasonably for when I want to scratch that itch