Well part of the reason it would be as valuable or even more valuable than the above estimates, is because of how rare such a gun is in stated condition. Occasionally a gun in such condition is refinished, and possibly very well, to where it fools some people. No refinished 1892 is worth the above estimates.
Another question here is what type of features does the gun have? Special order features such as non-standard barrel lengths, rear sights, half magazine, half round/half octagon barrel, all effect the value. Some 1892s were "trapper" models meaning 18 in barrel or shorter, which are more sought after and more valuable but may be subject to NFA rules. Occasionally an 1892 and the like will have a cut down barrel which severely decreases the value. Antique (before 1899 production) 1892s are also generally worth more. Occasionally such a gun will be re-chambered to 44wcf because it was a popular caliber at the time. Model 1892s were also in 32wcf, 38wcf and 25-20. A 38-40 could use AFAIK all of the same parts except barrel. Original chambering would need verified before any serious value estimate can be given.
In short, much more info is needed. Considering the info given, a value estimate is premature and ambiguous.
Winchester 73, the TFL user that won the west
Last edited by Winchester_73; December 19, 2012 at 08:30 PM.