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Lock Stock & Barrel Auctions, Live Auction #7 - Cody, Wyoming

Fri, Oct 23, 2026 11:00AM EDT
  2026-10-23 11:00:00 2026-10-23 11:00:00 America/New_York Lock, Stock and Barrel Lock, Stock and Barrel : Lock Stock & Barrel Auctions, Live Auction #7 - Cody, Wyoming https://bid.lsbauctions.com/auctions/lock-stock-and-barrel/lock-stock-barrel-auctions-live-auction-7---cody-wyoming-24995
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Lot 2238

Smith & Wesson S&W Model 15-4 Combat Masterpiece .38 Spl. 4" DA/SA Revolver MFD 1981

Estimate: $600 - $1,200
Starting Bid
$10

Bid Increments

Price Bid Increment
$0 $10
$100 $25
$500 $50
$1,000 $100
$2,000 $200
$5,000 $500
$10,000 $1,000
$25,000 $2,500
$50,000 $5,000

Make: Smith & Wesson

Model: Model 15-4 Combat Masterpiece

Serial Number: 99K6215

Year of Manufacture: 1981 / Modern

Caliber: .38 Special

Action Type: Single and Double Action Revolver with Swing-Out Cylinder

Barrel Length: 4"

Sights / Optics: The front sight is a serrated ramped blade integral to the barrel rib. The rear sight is a rectangular notch sight micrometer-click adjustable for elevation and windage.

Stock Configuration & Condition: The grips are two piece magna stocks with S&W medallions at their tops. The right grip is numbered to the gun with a matching serial number. The checkering is defined with light peak wear. There are scattered nicks and compressions, primarily on the bottoms of the grips. There are no chips or cracks. Overall, the grips are in about Fine condition.

Type of Finish: Blue, Case Colored hammer and trigger

Finish Originality: Original

Bore Condition: The bore is mirror bright and the rifling is sharp. There is no erosion in the bore. In this writer's opinion the bore rates 9.75/10.

Overall Condition: This handgun retains about 98% of its metal finish. The balance of the finish shows thinning on the leading edges and finish loss mainly on the muzzle. The turn line is faint and thin. The case color on the hammer and trigger is strong. There is light intermittent oxidation. The condition of the screw heads range from sharp to tool marked but retain strong slots. The markings are clear. Overall, this handgun rates in about Excellent condition.

Mechanics: The action functions correctly. The cylinder locks up with light play on each chamber when the trigger is depressed. The double-action trigger is smooth and the single action is light and crisp. We did not fire this handgun. As with all used firearms, a thorough cleaning may be necessary to meet your maintenance standards.

Box, Paperwork & Accessories: None.

Our Assessment: Smith & Wesson introduced the K-38 Combat Masterpiece in 1949 as a compact, service-oriented counterpart to its longer-barreled target revolvers. Renamed the Model 15 when numerical model designations were adopted in 1957, it combined the medium K-frame, .38 Special chambering, a 4" barrel, and fully adjustable sights in a revolver suited to both duty carry and precision shooting. The 15-4 engineering variation appeared in 1977 and continued the Combat Masterpiece tradition into the final years of Smith & Wesson’s classic pinned-and-recessed-era styling, although the Model 15 itself used an unshrouded, non-recessed cylinder.

This 1981 Model 15-4 retains about 98% of its original blue finish, with only light muzzle and edge wear, faint oxidation, and a thin cylinder turn line. Its matching-numbered walnut Magna stocks remain in Fine condition, while the mirror-bright 9.75/10 bore, strong case colors, excellent markings, and smooth double-action and crisp single-action operation indicate limited use and careful ownership. Combining excellent preservation with the balance, accuracy, and handling that earned the Combat Masterpiece its name, this is a particularly attractive example of Smith & Wesson’s classic adjustable-sight K-frame.

Lock Stock & Barrel Investments Inc.

2301 Lt. Childers St.

Cody, WY 82414

United States

 www.LSBauctions.com

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