Probably because it is "one of 196 assembled in 1957 from left-over parts."

Smith & Wesson .32 Regulation Police TARGET (4-inch) @ GunBroker

JMO, but I would say this one is somewhat 'greater than the sum of said parts.'

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Very nice. the local store has several older K frames mostly 38 spl but a few 32 Longs and one 32-30... Kit Guns!

--
Of the Troops & For the Troops

...doing things like that to my heart! Wow!!!

The seller is a friend of mine. You would not believe the stuff she has been selling for the last several months.
You would probably not believe who some of the buyers have been either

Go back and look at some of her past auctions.

NOT.

Smith & Wesson 2nd Model Hand Ejector .44 Special (5-inch)

I've actually seen ONE of these before (and it was rare even way back then...when.)

PS: Note this one's from the same seller...

That seller is a bona fide Purveyor Of Dreams Come True.

That is all.

This old dawg, too.

Smith & Wesson 2nd Model Hand Ejector .44 Special TARGET (6½-inch)

Yup, same seller...

Whole lotta nice stuff there.

I MUST NOT LOOK AT THIS THREAD I MUST NOT LOOK AT THIS THREAD I MUST NOT LOOK

-- for the sight of it causes an unfulfilled longing that haunts my day. Why is so dang hard for modern makers to make a simple machine like that, merely because there's just a tiny market for it? Even a re-introduce Model 63 .32 Magnum would be sorta OK, if not so handsome.

A repro of the old 38-44 Heavy Duty , in stainless, .357 Magnum, with a 5" skinny barrel would find plenty of market, I'd bet. Of course, they couldn't make it without that accursed lock in the side, so never mind.....