Jack, antique firearms come in two conditions; stock and collectable, or modified (refinished) and a shooter. I'd not consider a third gen Colt as a collectable unless it was a limited edition model. So although I'd be dissapointed that the finish was not the beautiful one that the factory puts on it, it would make a fine shooter. Some cowboy shooters will 'age' their guns to make them look 100 years old. Some like that, some do not. I think that price is a bit high for one that you would likely want to refinish, but still not a bad price for a nice condition Colt (other than the finish). I receintly bought a 2nd gen Colt that needed work for $475, I put another couple of hundred into it and now have a nice shooter Colt for a decent price. So it's up to you if you want that gun or not, but it can make you a fun shooter Colt. I'd recomment checking on a refinish job and then offering him what ever that would cost off of $1000 (the price of a nice, used Colt SAA). Good luck. 44 Man