Can't help you with police department stuff.
Need allot more info. S&W reused the same serial numbers many times on different models so I have to figure out what model gun you have first.
What is the caliber. How many rounds does it hold. Is it a modern swing-out cylinder revolver or an earlier tilting barrel type.
The only "registered" guns from S&W were the original 357 magnums from the 1930's.
Book only covers up to 2004. Yours is recent. S&W customer service can give you the DOB over the phone for free.
Depending on which model of 1911 you have the price can vary allot.
$700 with 6 mags is a fair price for even the base model.