If this is your first 1911 I would steer you away from these and towards a full size Government model or Colt Commander, much better chances of a reliable pistol out of the box.
If you really need a pocket 1911, the prices you quoted seem to be good, depending upon the condition of the firearms. I am not sure about a Colt with the name "Compact", but that is certainly Springfield's name for their small 1911's. Colt has had two 1911 pattern guns with 3-1/2 inch barrels. The Officer's ACP and a version of the CCO. The Officer's ACP has a shortened grip frame and a six round mag, the version of the CCO with the 3-1/2 inch barrel had the Government model size grip (bad combo if you ask me, the grip is the hardest part to conceal). Colt no longer makes the Officer's ACP, at least as far as I know, but did bring out a 3 inch version of the Officer's ACP called the Defender. They also made the Defender plus, which was the 3 inch top with a Government model size grip and magazine.
At any rate, the 1911 is most reliable with a barrel of 4 inches or more. 4-1/4 inches if using the traditional barrel bushing. You can search this board and find that most compact 1911's are pretty reliable, the unreliable can usually be made reliable if you take the time and have the patience. The compact 1911's do eat recoil and magazine springs quickly, so plan on changing them every 1000 rounds or less, frequently it is more like every 500 to 700 rounds.