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Bill
Bill, Gunsmith
Category: Firearms
Satisfied Customers: 2247
Experience:  40 yrs. experience as master machinist/tool and die maker and gunsmith. I own and operate a tool and die shop and custom gunsmithing/gunmaking shop.
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Value of Ithaca model 500 12 gauge o/u in pristine condition

Customer Question

Value of Ithaca model 500 12 gauge o/u in pristine condition purchased about 30-35 years ago.
Submitted: 2 years ago.
Category: Firearms
Expert:  Bill replied 2 years ago.
Hi, I would be glad to help you any way that I can by answering your question to the best of my ability.
Here is some info and the current Blue Book values:
MODEL 500 - 12, 20, 28 ga., or .410 bore, field grade, selective ejectors, VR, SST, 26 in. imp. cyl. and mod., 28 in. full and mod., and 30 in. full and mod. barrels, checkered stock. Prices below assume 50% engraving coverage and gold SST. Mfg. in Japan by SKB 1966-1979, imported by Ithaca.
Current Values:
100%: $1000
98%: $875
98% is considered as mint condition, however if it is "like new", shot maybe a few times, with no scratches anywhere, it would be worth between $900 and $950. Add 10%-15% for fully engraved frame with pheasant, or duck/quail and dog game scene if in 98%+ condition.
Here is some info to help you grade it properly:
PHOTO PERCENTAGE GRADING SYSTEM CONVERSION GUIDELINES -
New/Perfect – 100% condition with or without box. 100% on currently manufactured firearms assumes NIB (New In Box) condition and not sold previously at retail.
Mint – typically 98%-99% condition with almost no observable wear. Probably sold previously at retail, and may have been shot occasionally.
Excellent – 95%+ - 98% condition.
Very Good – 80% - 95% condition (all parts/finish should be original).
Good - 60% – 80% condition (all parts/finish should be original).
Fair – 20% - 60% condition (all parts/finish may or may not be original, but must function properly and shoot).
Poor – under 20% condition (shooting not a factor).
NRA MODERN CONDITION DESCRIPTIONS -
New – not previously sold at retail, in same condition as current factory production.
Perfect – in new condition in every respect, may have previously been sold at retail.
Excellent – near new condition, used but little, no noticeable marring of wood or metal, bluing near perfect (except at muzzle or sharp edges).
Very Good – in perfect working condition, no appreciable wear on working surfaces, no corrosion or pitting, only minor surface dents or scratches.
Good – in safe working condition, minor wear on working surfaces, no broken parts, no corrosion or pitting that will interfere with proper functioning.
Fair – in safe working condition, but well worn, perhaps requiring replacement of minor parts or adjustments which should be indicated in advertisement, no rust, but may have corrosion pits which do not render article unsafe or inoperable.

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