Smith & Wesson Model 586 L-Comp (.357 Magnum) — Used Price & Value 2026 | GunPrice Value Guide

Smith & Wesson Model 586 L-Comp

.357 Magnum·Used Price & Value Guide 2026

About the Smith & Wesson Model 586 L-Comp

The Smith & Wesson Model 586 L-Comp in .357 Magnum is a rifle from Smith & Wesson — America’s most prolific revolver maker plus the M&P pistol and rifle lines. Within the catalog this configuration serves deer (close range), defensive, hunting handguns, and its 2026 used-market position is supported by an active dealer network, available parts, and a stable supply of buyers willing to transact at the price bands documented below.

Brief History & Lineage

Smith & Wesson was founded in 1852 in Springfield, Massachusetts by Horace Smith and Daniel Wesson. The Model 10 (.38 Special), Model 29 (.44 Magnum), and Model 686 (.357 Magnum) are bedrock revolvers, with the M&P family carrying striker-fired and AR-pattern duties in the modern catalog. Within the catalog, Smith & Wesson positions itself among peers including Ruger, Colt, Glock.

Specifications

• Caliber: .357 Magnum
• Action: Rifle
• Year of manufacture: varies — see Year-of-Manufacture Notes below

Variant & Year-of-Manufacture Notes

The Smith & Wesson Model 586 L-Comp has been offered across multiple production years with variation in stock material, finish, and barrel length. Early-production examples typically command a modest premium over late-production guns of the same configuration. Watch for aftermarket modifications — refinishes, drilled-and-tapped receivers on classic pieces, replacement stocks, and trigger swaps — all of which can shift used value. Original-condition examples with matching serials, factory boxes, and manuals trade at the top of the range for the model.

Ammunition & Shooting Notes

The .357 Magnum is used for deer (close range), defensive, hunting handguns. 125gr-180gr loads available; chambers also accept the lower-pressure .38 special. Modern factory loads from American, European, and Asian manufacturers all run well in this platform, and reloaders enjoy a wide range of bullet and powder combinations.

How It Compares

The Smith & Wesson Model 586 L-Comp occupies a market position comparable to offerings from Ruger, Colt, and Glock. Buyers cross-shopping these brands typically prioritize revolver collectors — and once they’ve committed to Smith & Wesson, brand loyalty tends to be strong because of dealer network and parts availability. Used-market resale for a comparable-condition gun from these peer brands trades within roughly ±15% of the Smith & Wesson Model 586 L-Comp depending on the specific variant and year.

What’s a Used Smith & Wesson Model 586 L-Comp Worth?

Private-sale ranges for a working, no-rust Model 586 L-Comp in 2026 fall in four bands:

• Beater / heavily used: $350–$525 — significant wear, action functional, may need cleaning or minor service
• Average / honest used: $475–$725 — normal handling marks, mechanically sound, ready to shoot
• Excellent / lightly used: $650–$1000 — minimal wear, clean bore, original box and paperwork a plus
• New-in-box or unfired: $825–$1300 — at this price, the calculation usually flips toward buying new instead

Add a premium for documented early-production examples, original box and accessories, or limited-run variants. Subtract for refinished surfaces, aftermarket modifications a buyer would have to reverse, or signs of hard use.

Who Buys It?

The typical Smith & Wesson buyer profile includes revolver collectors, M&P concealed-carry buyers, .22 trainer shoppers. The rifle format and the .357 Magnum chambering further focus the audience. Used-market liquidity is solid — list a clean example at fair market on GunBroker, Armslist, or a local board and it generally moves inside two to three weeks. Dealer trade-in offers typically run 20–30% below private-sale; if you have time to list, private sale captures the premium.

Frequently Asked Questions

Is the Smith & Wesson Model 586 L-Comp still in production?

Production status changes — check Smith & Wesson’s current catalog for active SKUs. If discontinued, used-market supply is the only source, and that can drive prices up for clean examples.

What’s the best ammunition for the Model 586 L-Comp?

For general-purpose use, factory loads in .357 Magnum from the major American and European makers are the safe choice. Match shooters and hunters should select bullet weight and construction to the intended task.

Does year of manufacture matter for value?

Yes, to a degree. Early-production Model 586 L-Comp examples often command a small premium for collector interest, and pre-discontinuation variants can also trade higher. Mid-production years generally trade at the base ranges shown above.

What’s the resale outlook compared to Ruger alternatives?

Both Smith & Wesson and Ruger retain solid resale value in their respective segments. Within ±15%, the two trade comparably in clean condition. The Smith & Wesson Model 586 L-Comp typically pulls ahead with collectors who specifically want this brand.