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I'd tend to purchase an older Model 27 too. You will get a gun with a better finish, and no lock or MIM parts. I suspect over the long haul it will increase in value while the new revolver takes a dive.
If you can find a sweet used 27 at a reasonable price, grab it; I've had no luck on that score and have been looking for a while. I actually would consider buying a "new" classic. These aren't museum pieces, lovely though they are. Just a great shooting gun whose looks can't be beaten.
I agree with everyone else... Buy yourself a REAL classic 27-2 and you'll never look back. One of the best revolvers ever produced. Not the shadow of a gun with a lock they call Classic now.
It will cost you just about the same for a New Old Stock gun as you would one of the NEW Classics. I know where I'd put my money.
Good luck on your decision.
The recent production "classics" I have examined have been well made, both the 27 and the 29. The street prices I have seen are about $750/$800, sometimes specials for less. The nickel models were exceptionally well finished.
You may be able to find an older one in high condition for a little less. You should be able to buy one with confidence as they are almost always nice form the factory, though some lemons did get through.
A new gun will offer that "new guns smell" (satisfaction), lifetime warranty, and box/etc.
Keep in mind if you want a 4" model, these on the used market bring a premium (and they were 3.5" up until 1980 or so, then 4"). Those will cost you as much or more than a new gun. Here's a fairly typical example of a used sale, and would have run $875/900 to get it home:
I saw this one while browsing Bud's earlier today. Haven't seen any new "Classics" at the LGS, but have seen a nice nickel 27-2 for about the same price.
I saw an as-new 29 Classic in the wooden box, 6.5" for $650 or so at a LGS this past spring/summer. I had just bought a mint Colt Series '70 or else I might well have picked it up. I have a boxed 6.5" 29 so it would have been redundant.
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