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Asking the pros for help with pricing my old .38

Mr. Kaiser
Hello,

New to the site, looks like this is a great place to get info on guns!

I have a Colt .38 Police Positive, labeled "Railway express"

I'm wanting to put it up for sale but am having trouble putting a price to it. How much do you think it's worth?

Please note that the gun is in exellent condition, the trigger is nice and tight, the bore is flawless, 90%+ of the original blueing is intact, the gun has not been used in ages.

Here are some pictures:

http://photos.imageevent.com/bikeguy/38/websize/PIC00014.JPG
http://photos.imageevent.com/bikeguy/38/websize/PIC00012.JPG
http://photos.imageevent.com/bikeguy/38/websize/PIC00010.JPG
http://photos.imageevent.com/bikeguy/38/websize/PIC00018.JPG
http://photos.imageevent.com/bikeguy/38/websize/PIC00013.JPG

I was thinking about $750. But I'm really not sure, I'm no expert when it comes to guns.

Thanks!

Kai
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Comments

3 comments

Date Votes
  • Contender Man
    Welcome to the Forum.

    You have what is known as a Police Positive Second Issue.

    In 90% condition the Blue Book is $300 and the RR Express markings would only have value to a specific group of collectors that are into RR items. In fact if you do decide to sell make the holster and keys a part of the package.

    In my opinion you won't get the kind of money that your talking about, but you may see as much as $500-550 with holster, keys, etc.

    Value is really what a buyer is willing to pay, the BB and other collector's references only offer what I think of as a generic approximation of known "recent" sales across the country. The market varries from one area to another.

    Unless someone else can provide rationale for another pricing alternative I suggest that you set your asking price at no more than $650 and be prepared to negotiate downward.

    2470099-S.jpg
    If you only have time to do two things so-so, or one thing well ... do the one thing!
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  • nmyers
    There is great value to auction sites such as Gunbroker.

    First, you can find the real market value of your gun by doing a Smart Search on Completed Auctions. This allows you to see what similar items have actually sold for (don't bother looking at the asking price of items that didn't sell).

    Then, you can list your item at a low starting price, & let the market forces determine exactly how much your gun is worth. While the "books" are helpful, the prices are often out of date, & may be misleading.

    It took me only a minute to find a gun similar to yours that sold for $250. Maybe the REA markings & holster will help a little, but I think it unlikely that you will get much more than that.

    Neal
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  • Mr. Kaiser
    Thanks for the input, it's greatly appreciated.

    I'm going to put it up and start it low, see what happens. I have seen one for sale with additional items for $1300, don't know if it sold... But I have seen one sell for $800. Those are the only two I have been able to find on the net.

    Crossing fingers for RR collectors. [:)]

    Thanks again

    Kai
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