My local shop has a 6" Official Police in .22 LR. Condition is 98% - looks unfired. Also has original box and factory test target fired at 15 yards, with 5-shot group of a little over 1/2" (!).
Welcome to the Forum,shuter. This sounds like a fair price to me,in the condition you describe,and a good price if the gun was made prior to World War Two. Folks looking for a "shooter",tend to stay away from fixed sighted .22s like the O.P. But the sights can be "adjusted" by trying different brands of ammo,as .22s can be "fussy" as to where they will shoot. I have two of these fine guns,1 is a 4",the other the more common 6". I fire several thousand rounds a year out of them,and as that test target shows,they are very accurate. You also won't find the smooth action and crisp trigger pull on any gun being produced today. Go for it! Bud
The Official Police-even in .22-has the smooth Python type action which makes for an extremely fun and satisfying gun to shoot and own. Any collectible Colt that still has the original box is worth buying if the price is near right. (If that box with the target is in good shape it's easily worth $50-$75.) I'd be buying that .22 as quickly as possible if'n I were you. -Asa
shuter- I think you got a heckuva deal. Look around and see what is available for that price for guns that automatically lose 30% of their value when you walk out the door. Plus you got a collectible Colt! If you ever decide to dispense of the pistol, please pm me. -Asa